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The market for senior qualified accounting and finance professionals has been marked by significant shifts. From sectoral redundancies to changing job flow patterns, the talent landscape has been anything but static.
#1 State of Play in the Market for Senior Qualified Accounting & Finance Talent
1.1 Redundancies and Restructuring
2024 brought a notable uptick in redundancies across multiple sectors, impacting the availability of talent. The technology sector in Ireland was significantly struck by redundancies, with Meta reducing its workforce by 2.9%, TikTok by 7.4%, and PayPal by 9.9%. Other sectors like renewable energy, biotech, and FMCG have also witnessed layoffs, stemming from finance functions being consolidated into shared services centres, often outside of Ireland.
1.2 Increased Talent Availability
In addition to redundancies increasing the availability of senior talent, there has been a slight increase in talent returning to Ireland, particularly from countries like the United Kingdom and Australia. This trend aligns with data showing that many newly and recently qualified accounting and finance professionals leave Ireland in their early post-qualification years but return after gaining international experience. This repatriation trend provides Irish companies with access to highly skilled finance professionals who bring valuable international expertise.
1.3 Job Flow Patterns
The flow of job opportunities in 2024 followed a distinct pattern, with hiring activities significantly slowing during the summer months. However, there was a noticeable uptick in October as companies began preparing for year-end planning.
On the contract side, companies displayed greater flexibility by hiring finance talent from practice backgrounds and showing a willingness to wait up to three months for the right talent. There has also been a notable increase in companies hiring on a contract basis. In 2024, 34% of all roles at the senior qualified level were contract roles. This marks a significant jump of 14% from 2023, where contract roles represented only 20% of hires at this level.
#2 Advice for Hiring Managers: Preparing Your 2025 Talent Strategy
With 2024 presenting its fair share of challenges, it’s imperative for hiring managers to shape their talent strategies for 2025 with these key considerations in mind:
2.1 Expect Increased Competition for Talent
Global policy uncertainties, such as potential shifts in US foreign direct investment (FDI) or trade restrictions under the Trump administration, may slow decision-making in sectors like pharma and food and beverage exports. This perception of risk is reducing the demand for talent in the short-term. In spite of increased talent availability, job flow is expected to pick up in 2025, which will likely intensify competition for top talent in the senior qualified accounting and finance market.
2.2 Salary Stability
While salaries have remained steady overall, there are nuances to consider. Contract rates have increased due to tighter availability in the market, reflecting strong demand for experienced professionals in temporary roles. Although salaries haven’t increased broadly, it’s crucial to remain competitive. To benchmark effectively, check out our latest Talent Monitor here>>> for the most up-to-date insights.
2.3 Flexibility & Hybrid Working
Flexibility has become a defining factor in attracting and retaining senior-level talent. The shift toward remote and hybrid working during the COVID era has set new expectations, with the majority of professionals now preferring to limit office time to no more than two days per week. Organisations that offer greater flexibility in work arrangements are better positioned to secure top talent in today’s competitive market.
#3 Advice for Senior Finance Professionals Considering a Career Change this Year
As a senior qualified professional navigating the current market, here’s what you need to know:
3.1 Senior-Level Job Search Challenges
Job searches for senior roles now take 6–12 months, a significant increase compared to previous years. Planning ahead is essential. If you’re considering a career move in 2025, it’s wise to connect with your talent advisor sooner rather than later to get a head start on the process.
3.2 Consider Contract Roles
Contract roles can also be a valuable strategic option to consider. They offer the opportunity to gain experience in new industries or roles, pivot your career into a different sector or type of organisation, and navigate a challenging job market while continuing to build valuable skills. For many, these roles serve as a practical stepping stone toward long-term career goals. As companies rebuild confidence, they often hire on a contract basis first, with many of these roles transitioning into permanent positions over time.
3.3 Returning to Ireland
Returning talent often face challenges in adjusting to the Irish job market, particularly around salary expectations and understanding job availability. If you’re planning a move back to Ireland in 2025, engaging with a talent advisor early can make the transition much smoother by providing tailored advice and insights into the evolving market.
For more insights, salary benchmarking, or advice on navigating the current market, reach out to Ornaith at ornaith.giblin@barden.ie