Oct 2023

The Accounting & Finance Market in Wellington

Wednesday, October 4, 2023

Julian Greaves

Accounting recruitment in Wellington is standing up well considering the current economic factors that are at play nationwide.

We’re seeing that salaries at the Financial Controller/Head of Finance tier have stayed stagnant and could have even topped out after a period of growth. Although we did see a slight pause in the number of jobs at this level between April and July, we have seen this start to increase again as the election draws near.

There has been a significant skills shortage gap at the Management Accountant/Analyst Level, and client expectations vs candidate skills and experience has made it tricky to match. In the $90-$120k mid-tier accountant level is where we see the highest demand right now with the number of jobs on advertising platforms in Wellington surpassing over 20! Professional Practice also sees the highest need in Wellington right now, as many have moved overseas on their OE or moved to the commercial sector.

We’re seeing this trend still ongoing, although we’re optimistic it may curtail soon! The OE shift is undoubtedly due to the visa requirements having changed for young working-visa holders, alongside a significant lure this year from the other side of the ditch, getting people to look at careers in Australia.

The CA firms did some great work in retaining staff 18 months ago by offering retention bonuses and early promotions (to name a few), however, moving into Government or commercial from professional practice has been an attractive draw card for candidates. The Election factor has had some expected changes, including a slow-down in contracting across government agencies, as we wait to see what the outcome will be. This is reflected across the private sector also. However, with a number of changes in commercial businesses nationwide as they realign and repurpose their models to stay relevant in the current market, we have witnessed a significant need for the accounting function more than ever.

Clients have been open to hiring candidates from overseas but with the caveat they are here on the ground in Wellington. Fortunately, changing laws from Immigration NZ have made it easier for employers to hire candidates from overseas which has helped the alleviate some of this strain and burden on the market.

Looking for more insights?

Download our latest State of the Market at the link below!

State of the Market Q1 2024

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