The beginning of the recession in 2008 caused many individuals in the financial sector concern that the financial sector would dramatically struggle or be incapable to rebuild itself after many financial institutions filed for bankruptcy and thousands were laid off within the sector. However new reports are finding that financial positions, such as accounting jobs, could see a spike in average salary over the coming months.
The 2011 Salary Guide suggests that in the next year accounting and financial positions could see an increase in compensation by an average of 3.1%. The positions that appeared to receive the most notable increase included business analysts, tax accountants and financial analysts. Senior business analysts will see the greatest pay increase of 5%. Financial analysts will see a growth of 4.8% in starting salaries.
Companies are complaining that they are struggling to find professionals with experience and precise talent, who are able to improve efficiencies, facilitate business growth and manage rising business volume. These increases in starting salaries for financial analysts and a notable growth in accounting and other financial jobs salaries will hopefully attract the best candidates for the roles with specific talent. The promising growth in starting salaries in the financial sector suggests those training for financial qualifications should consider pursuing a career in their specific sector.
A further report from an international job site states it has seen a significant increase in the number of UK recruiters in accountancy and finance advertising their job vacancies on its site. Further to this there has been an increase seen in the demand for IT, Legal and HR specialists to work in these same financial sectors.
With the number and variety of jobs increasing within the financial sector and increases in pay, the financial sector looks like it is making a steady recovery, providing confidence for those concerned that the financial sector would struggle with recovery.