I just stumbled across an article which said that nearly half of all those in the industry would happily give up their accountancy jobs in the next five years! Apparently it’s due to “increasingly onerous regulations, concerns over inflation, and discord with HMRC”.
Does this mean that there will be more jobs for us?
Wow I wonder what, if that happens it means for the industry in general though?
I mean if all the regulations etc are going to become tougher then who would want in anyways?
Maybe its just a load of hype? I mean HMRC can’t get so tough that no one can do the work otherwise who are they going to get to do it all? It seems a bit of an unrealistic situation! Don’t you think?
I’m sure that some of it is hype, but it certainly seems as if jobs in finance, banking and accountancy are going to be affected by some serious restrictions this year as Britain tries to prevent another financial crisis. It’s not only going to put people off pursuing careers in financial services, but also dissuade foreign firms from investing here!
That is a very interesting article and very true to form I think - I mean without continued investment why would multinational companies want to invest in the UK? Especially with rising taxes and so on! There is no incentive to be here for them! Something needs to be done!
Education is a very important factor in this as well, without incentives to study in finance and accounting there will no longer be the highly skilled work force that people are used to in the UK. Again taking away investors… Who knows!
It’s a catch-22 situation really. If the financial system isn’t properly regulated, then there’s a chance of another crisis, but if it’s too heavily regulated, then professionals will leave the UK and no-one will want to invest here. It seems as if we need a global solution to the problem - do you think that’s possible?
A global solution is definately what is required to get the ball rolling positively again!
But the thing is, the UK was one of the big players in this industry and maybe now some of these other countries are looking to step in and therefore a global solution will be harder to come to?
I mean perhaps these companies will get better investment opportunities and so on elsewhere?
Well, it certainly seems as if they’ll encounter less red tape in some countries compared to the UK, but the last thing we need is for the City to collapse! Interestingly enough, I read that banking jobsare picking up again - one recruitment firm said it was being asked to find twice as many bankers as a year ago. I hope accountancy jobs go the same way
one recruitment firm said it was being asked to find twice as many bankers as a year ago. I hope accountancy jobs go the same way
Yeah, but two times almost zero is still almost zero.
There do seem to be more and more jobs out there. Not a lot, but they’re coming back. The trouble is that the sort of jobs I (we?) would be going for- the part-qualified/trainee roles- are being filled by fully-qualified’s who have been unemployed for a few months or a year and are willing to take the pay cut just to get back to work.
Yeah, but two times almost zero is still almost zero.
hehe Jamie that made me laugh! Still totally true though!
Your totally right about most of the jobs in accountancy that are out there right now though - it is very hard to get into any junior/trainee role as people who have been out of work for a while are more than willing to step into these shoes and companies are more than willing to hire these people knowing full well that they are unlikely to disappear to greener pastures anytime soon due to the current economic climate!
You have both made a really valid point about the fact that there is such competition for accountancy jobs these days that all the positions are going to more senior people.
I can totally understand why an employer would prefer to hire someone that they don’t have to train, but surely this is going to turn around and impact them negatively in the future? Employees who are trained on the job are often much more loyal to the company that trained them. Firms can also shape them into the types of employees they want - whereas more senior staff will have already picked up bad habits along the way. I don’t know, just a thought
I agree with you Jerushah there are negative points to this but these will not matter until later on - by later on I mean in a few years as i do not see the jobs market returning to normal anytime soon really do you?
So right now if an employer can get experienced staff on a junior salary then why not? Its not like the staff will be running off anytime soon really is it? There are definately more candidates out there than jobs right now so the employers totally have the upper hand with all of this!
I know, it must feel pretty good to be an employer right now, cherry picking only the best candidates! But as sure as the job market turns around - all those overqualified and overexperienced staff members are going to look for greener pastures. But I guess that’s normal after five years anyway, isn’t it? Still, it’s a pity for our generation. Do you really believe we’ll become the “Lost generation” or is that a load of media hype?
I honestly have no idea and hope that it does not happen! But looking at the job market and seeing hoe hard it is to get into work and progress right now, I can honestly see why there might be issues! Don’t you think?
There may indeed be a lost generation in amongst all of this! It would be a shame to see but is an unfortunate reality of recession!
Well, I am just hoping that the market for accountancy jobs grows from strength to strength this year as we slowly pull out of recession. I know we are facing a massive budget defecit, but thankfully our industry doen’t rely as heavily on government support as other industries such as construction and healthcare do.
