Financial Additions Releases 2nd Quarter Job Market Survey

DALLAS/FORT WORTH, Texas - April 24, 2013 - PRLog -- Financial Additions, headquartered in Dallas, Texas, announces the release of it's 2nd Quarter Job Market Survey.  The survey is available for free at the company's website, http://financialadditions.com.  

Since 1999, Financial Additions, with additional offices in Fort Worth, Los Angeles, and San Diego, California, has striven to be a preferred source of highly qualified accounting and finance professionals as well as an accurate resource of current financial job market information. Recently, Financial Additions invited over 25,000 hiring managers and HR professionals to participate in a current jobs market survey from national, regional, as well as local market perspectives. Those responses are included in the survey.

As long time veterans of the accounting search and staff augmentation market, Financial Additions continues to be surprised by the trends and swings in the hiring market. "Even in our specialty of accounting and finance, it seems that we never spend too much time in the sweet spot of the market where the number of positions and the number of quality active candidates are in equilibrium," said Doug Hall, Managing Partner.  "In the last year, some of our clients, who hadn’t added additional headcount in 2-3 years, went into a hyper drive expansion. The result has been that demand for highly qualified accountants has never been higher while the supply of candidates has not been able to keep up with demand."

The survey also identified some unique insights to the future of hiring candidates. "We want to add a note about the supply side," Hall continued. "During the last 14 years, Financial Additions has interviewed over 40,000 candidates. This high volume has given us a great grasp on the fluctuation in the supply of accountants. Our experience has taught us that demographics are our hiring future. Just as there are a finite number of grapes grown and made into wine in a certain year, the same is true of the demographic of a skill set. For example, the downturn of 2008-2010 caused the Big 4 and regional accounting firms to scale back their starting classes in response to market conditions. The result is that we have lost a generation of accountants who didn’t spend much or any time in public accounting before going into industry. As a result, there will continue to be a shortage of candidates in the 3-5 year experience bracket. Next year the shortage will be in the 4-6 year experienced candidates. The survey responses reflected the low supply of quality candidates in this demographic group."

Overall the 2nd quarter results were as expected from what the company actually views on a daily basis. The sample of results is drawn from: 48% Accountants, 17% Finance Managers, 18% Human Resources, 7% Tax and 5% Audit Managers. The respondents are the managers who are in charge of hiring in the accounting and finance space. Hall added, "The great news from this sample is that more than 65% of respondents saw the overall financial job market improving. Over 40% of them thought that their organizations would be hiring this year. These numbers were only in the 20% range just a couple of years ago."

Financial Additions wishes to extend its gratitude to all the hiring managers who responded to the survey and hope that this quarterly information helps them navigate the ever changing employment market.  If you would like a free copy of the 2nd Quarter Job Market Survey, visit http://financialadditions.com.