The Great Escape: Newly Qualified and Thinking of a Move Overseas?

Are you about to finish your training contract and are considering your options overseas?

Here Siobhán Sexton ACA, Business Lead and expert in recently qualified accounting careers and recruitment, gives a market update about the current landscape and opportunities for those about to come out of training contract.

2020 and 2021 were undeniably challenging, as the pandemic changed the professional landscape for everyone, including newly qualified accountants. By March 2020, most newly qualified accountants had to look at local options, often working remotely.

2024 – A More Open and Dynamic Market

Fast forward to 2024, and the landscape has evolved significantly. The pent-up desire among accountants who qualified during the pandemic years to move abroad has been well and truly followed through, with up to 60% of newly qualified accountants across Ireland taking the leap, exploring opportunities in traditional hotspots like Australia, London, and Canada, but also expanding to emerging markets like the Middle East and Asia.

For those coming out of contract in 2024, the number of options has stabilised compared to 2022/2023. Industries that are hiring are varied, if not at the same level. Additionally, new sectors such as fintech are offering roles that didn’t exist just a few years ago. This opens up new possibilities for newly qualified accountants to diversify their career paths.

However, we have also seen accountants moving abroad find it a little trickier to secure a longer-term role, as companies abroad have a strong supply of similar profiles.

What This Means for You as a Newly Qualified Accountant in 2024

Here are some key trends for newly qualified accountants this year:

1. Supply and Demand: While many newly qualified accountants have ventured overseas in 2023 and 2024, demand remains high for talent in Ireland. Companies are increasingly competing to attract and retain talent. For those who choose to stay in Ireland, this means more leverage when negotiating salary packages and benefits, particularly for those seeking roles in Dublin, Cork, and Galway.
2. Global Opportunities: If you’re considering moving abroad, key markets like Australia, New Zealand, the UK, and Canada have seen a huge influx of newly qualified Irish accountants. This has resulted in accountants moving abroad finding it a little trickier to secure a longer-term role, as companies abroad have a strong supply of newly qualified accountant profiles. The Middle East, particularly Dubai, continues to be a popular destination, with attractive tax-free salary packages and opportunities in multinational corporations.
3. Remote Working: Post-pandemic, remote working has become a lasting trend, with most companies offering some kind of hybrid working option. However, more and more companies are asking people to work onsite for a minimum of 3 or 4 days per week, with fully remote roles becoming less common. Working onsite offers valuable opportunities for newly qualified accountants, as it allows you to learn directly from experienced colleagues and benefit from a collaborative environment, which can greatly enhance your professional development.
4. Return of Overseas Talent: Another trend to watch for is the return of Irish accountants who have spent time abroad. Many professionals who moved overseas in the past few years are now returning, often bringing with them international experience that further enriches the local talent pool. This could create more competition for roles at the senior level but also give businesses access to top-tier talent, keeping Ireland a vibrant market.

We have also seen people returning home from abroad sooner than originally planned in 2024, given the difficulty of finding longer-term opportunities abroad.

Conclusion

For newly qualified accountants in Ireland in 2024 there are opportunities both domestically and internationally. Companies across a range of sectors are seeking strong talent, offering attractive packages, flexible working arrangements, and the chance to work in dynamic and growing industries.

If you need advice, feel free to connect with our teams in Leinster and Munster. We have a wealth of experience, both in placing accountants across Ireland and helping professionals make the move abroad, through our trusted network of global recruitment partners. Whether it’s Australia, London, Canada, UAE, or further afield, we’re here to guide you every step of the way.

Coming out of your training contract in 2024? Do you want to make sure you make the very best first step after qualifying? Do you want a coffee meeting with an expert talent advisor; someone who is a qualified accountant, just like you (meet our Leinster team here>>> and our  Munster team here>>>)?  Do you want a little help to create your very own best financial future? No problem. Just drop us a line today on hello@barden.ie and we will take it from there. Simple.