21
UNITED STATES TAX & ACCOUNTING 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers Sponsored by: Brought to you by Monster Intelligence

2011 Tax & Accounting Job Market

  • Upload
    monster

  • View
    2.376

  • Download
    1

Embed Size (px)

DESCRIPTION

The Tax & Accounting Job Conditions Report offers a comprehensive view of the Accounting job market. This study highlights online job postings and candidate resume activity across the United States and focuses on Tax & Accounting professionals and recruiters looking to hire Accounting talent.Gain insight on online recruitment trends, supply and demand conditions, and how job seeker characteristics mesh against employer needs. Plus, see what Tax & Accounting professionals reveal about their careers in Accounting, job search obstacles, and most valued skills and qualifications.This report provides: * An overall look at Accounting supply and demand, together with a comparison of job seeker characteristics and employer requirements * A look at recruiters and hiring managers and their plans for acquiring Accounting talent in 2011 * Insight on Tax & Accounting professionals and their careers, job search obstacles and valued qualifications and skills

Citation preview

UNITED STATES

TAX & ACCOUNTING 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers

Sponsored by:

Brought to you by Monster Intelligence

2

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

TAX & ACCOUNTING – 2011 JOB CANDIDATES At a time of high unemployment and low hopes, jobs in the accounting and auditing fields are expected to grow. Accountants and auditors should enjoy much faster than average employment growth from 2008 through 2018, according to the Occupational Outlook Handbook 2010-2011. The predicted growth of 22 percent, or 279,400 new jobs, the handbook said, will result from “an increase in the number of businesses, changing financial laws, and regulations, and greater scrutiny of company finance.” Employers will remain cautious and believe the recovery will be slow; they are wary about plans for expansion and hiring. Still, hiring trends are looking more positive and employers with strong capital will be looking to expand in 2011. The best prospects await those with professional licenses, such as the CPA credential, according to the U.S. Department of Labor‟s Bureau of Labor Statistics, which releases the Occupational Outlook Handbook every other year. Monster leveraged more than 1.2 million Tax & Accounting resumes coupled with online job postings for talent across the United States in order to gain insight into candidates and employers. Data is current through December 2010 unless otherwise noted. Additionally, Monster surveyed active Tax & Accounting (referred to in this report as simply Accounting) professionals, HR professionals and hiring managers to present a snapshot of activity within the United States on Monster. The surveys were conducted between November and December 2010. About the Sponsor:

Ajilon Finance - Ajilon Finance is a leader in specialized financial staffing and recruitment. We place premier accounting, financial and bookkeeping professionals in temporary and direct-hire positions. In addition, we also provide a wide range of finance consulting solutions to companies on a project or interim basis, including senior-level financial and operations expertise. Please visit www.ajilonfinance.com for more information.

Accounting Principals - Accounting Principals is a leader in the recruitment and placement of accounting and finance professionals. Accounting Principals offers a complete range of workforce solutions in accounting, finance, mortgage and banking through our nationwide branch network and team of experienced professionals. For more information, please visit www.accountingprincipals.com.

TABLE OF CONTENTS

Hiring Talent in 2011 3

Accounting Talent 3

Career Talent 5

Education Talent 5

Experienced Talent 5

Job Search Conditions 6

Market Conditions 7

Market Overview 7

Online Recruitment Trends 9

Recruitment Activity 10

Hiring Conditions 11

Supply and Demand Analysis 12

Labor Performance Matrix 14

Career Level Requirements 16

Education Level Requirements 16

Experience Requirements 16

Job Type Requirements 17

Job Status Requirements 17

Qualifications and Benefits 18

Compensation 19

Conclusion 20

Monster Intelligence 20

3

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

HIRING TALENT IN 2011 Accounting Talent The following data analyzes the supply (resumes) of tax and accounting professionals on Monster nationwide. It provides a current picture of key Accounting job seeker availability in the United States. Listed among the nine Accounting occupations reviewed, the top two occupations in supply across the nation accounted for more than one-half (59 percent) of the candidates.

Skills Listed in the chart below are the top skills made available by accounting candidates on their Monster accounts. The list is full of technical skills, including computer skills, software packages, and accounting-related terms. The most popular soft skills include Communications and Leadership, mentioned in over 8 percent of accounts, as well as Problem Solving.

Financial Analysts - 31%

Accountants and Auditors - 28%

Bookkeeping, Accounting, and Auditing Clerks -19%

Bill and Account Collectors - 7%

Accounting/Tax Managers - 5%

Loan Officers - 4%

Cost Estimators - 3%

Tax Examiners/Revenue Agents - 2%

Budget Analysts - 1%

4

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

In a recent Monster survey of more than 600 Accounting professionals and 140 employers, respondents were asked “Which of the following "hard" skills are most in supply/demand when looking for the ideal accounting job/candidate?” Hard skills are technical requirements of a job or activity that are teachable, often requiring on-the-job training or more formal education such as that provided by a college or university. Key Accounting hard skills referenced by more than 40 percent of employer respondents included Microsoft products, GAAP, and CPA. More than 40 percent of professional respondents cited the same skills as critical to their career.

Similarily, Accounting professionals and employers were asked “Which of the following “soft” skills are most in supply/demand when looking for the ideal accounting job/candidate?” Accounting professionals and employers agree that Problem Solving is a key success factor (more than 50 percent of respondents) however, employers also view Work Ethic, Dependability, Self-Confidence, Communication, Ability to Work Under Pressure, Teamwork, and Initiative skills as critical as well, whereas employees find these skills less imperative to the job (fewer than 50 percent of respondents).

5

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

The charts below give a detailed profile of Accounting job seekers found on Monster including career experience, education level and work experience. Accounting candidates found on Monster are typically mid-career with at least a bachelor‟s degree and more than five years of experience.

Career Talent Forty-nine percent of Accounting job seekers in 2011 are mid-career. Twenty-five percent are managers or above while 26 percent are emerging into today‟s workforce.

Education Talent Sixty-three percent of Accounting job seekers in 2011 have at least a bachelor‟s degree. Twenty-four percent have an Associate degree or some-college.

Experienced Talent The majority (59 percent) of Accounting job seekers have more than five years of work experience. The second largest group has two to five years of experience (22 percent).

Executive3%

Manager22%

Mid Career49%

Entry Level17%

Student9%

Career Level

Masters or Above18%

Bachelors45%

Associate/Some-College

24%

High School9%

Certification-Vocational

4%

Education Level

More than 15 Years

10+ to 15 Years

7+ to 10 Years

5+ to 7 Years

2+ to 5 Years

1+ to 2 Years

Less than 1 Year

0% 5% 10% 15% 20% 25%

Years of Work Experience

6

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Job Search Conditions The primary reason Accounting professionals are looking for a job is due to layoffs, which shows that despite

improvements in the economy, uncertainly still exists. The second most popular response was re-entry into the

workforce. With the uncertainty of the economy many stay at home mom‟s, retired individuals, and those unemployed

for extended periods of time are seeking re-entry into the workforce.

The top four reasons Accounting professionals are searching for a job include:

1. Layoffs occurring/occurred (29 percent)

2. Re-entering the workforce (16 percent)

3. Salary is not as desired (15 percent)

4. Limited or no potential for upward mobility (12 percent)

Factors less likely to drive candidates to look for a job were „relationship with a peer/manager‟.

Accounting professionals report that they are

somewhat finding success in meeting their

expectations and requirements. Forty-one percent are

finding „Good‟ to „Excellent‟ conditions, which is

slightly encouraging news in this rebounding sector.

Those respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it challenging

looking for a job”. The two primary reasons job

seekers had a difficult time finding accounting

positions were „getting an employer or recruiter to

contact them‟, „too few jobs‟ and „finding a job that

matches what they want (e.g., salary, locations, etc.)‟.

From Monster‟s recent survey to Accounting

professionals, the majority of respondents (65

percent) are most comfortable with going to online job

boards to search for opportunities and post their

resume.

7

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Market Conditions After experiencing a dip the past couple of years, Accounting professions have reported encouraging signs of expansion as well as a greater balance in its talent demand versus talent supply.

Market Overview Following the corporate scandals in the 1990s, the Tax and Accounting profession flourished as accountants were in

demand to audit firms, uncover discrepancies, and help companies adhere to the rush of new regulations. In some

occupations, demand exceeded supply. The economic downturn over the past few years has stabilized the equation as

accounting firms were forced to cut costs and downsize.

A recent report of the top 100 Tax and Accounting firms confirms the ill effects of the weak economy. Total revenue of

the top 100 companies dropped 2.85%, the first ever decline in the 23 years that this report has been compiled. Not only

did revenues decline, but employees as well. As seen in the chart below, total employees in the top 100 fell by 2.3%,

while the smaller firms reported modest expansion. On a positive note, the number of employed partners increased

4.9% to 16,945.1

2009 Employment

% of Total % Change 2008-09

Top 6 Tax and Accounting firms 135,777 72% -3.0%

Firms over $100 million in revenue 30,707 16% -1.4%

Firms under $100 million in revenue 22,000 12% +0.9%

TOTAL Top 100 Tax and Accounting firms 188,484 100% -2.3%

Seeing further signs of hope, a majority of smaller regional firms have expanded their accounting operations. These

firms typically focused on niches likely to do well in tough times, helped with bankruptcies, and assisted clients in

surviving the recession.

Going forward, accounting firms are gearing up for a slow recovery by creating new practice units, improving

communication and client retention, and increasing marketing and sales efforts.

The Bureau of Labor Statistics predicts the top two accounting roles, as seen on the next page, will increase by 15%

over the next decade. Both roles rank in the top twenty U.S. occupations adding the most new jobs by 2018;

Bookkeeping, Accounting and Auditing Clerks are estimated to grow by 212,400 while Accountants and Auditors are

forecasted to rise by 279,400.

1 Accounting Today‟s “Top 100 Firms 2010”

8

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

The top two Accounting roles are listed below.

Occupation (Employment in thousands) 2008 Projected 2018

% Change 2008-18

Bookkeeping, Accounting, and Auditing Clerks

2,063.8 2,276.2 +10%

Accountants and Auditors 1,290.6 1,570.0 +22%

TOTAL 3,354.4 3,846.2 +15%

Factors leading to the need for more bookkeepers and accountants include the continued expansion of the number of

businesses, further globalization, evolving tax standards (including the International Financial Reporting Standards), and

stricter financial laws and regulations.

In order to meet recruiters growing demand, the Accounting sector will need to continue to recruit a strong pipeline of

candidates as well as successfully develop senior accounting teachers, which has been a challenge in the past, in order

to train the rising professionals. Recovery will be slow and employers will remain cautious.

In fact, a recent survey of more than 150 Accounting recruiters and hiring managers at Monster were asked “How many

accounting positions do they intend to fill in the next six months” and “What percent of the accounting positions they

expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling a

limited numbers of roles (84 percent plan to hire less than ten positions) and very limited new roles (52 percent plan that

less than ten percent of positions will be new).

9

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Online Recruitment Trends The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity by location, occupation, and industry. As seen below, each of the three indices noted here (National, Business & Financial Operations, and Office & Administrative) have reported relatively stable trends in 2010.

The Business & Financial Operations MEI follows job postings for occupations such as accountants, budget analysts, loan officers, and tax examiners. The index has gained 34 percent (+39 points) since its low point in July 2009.

The Business & Financial Operations trends are more positive than the National, as the U.S. MEI fell 3 percent (+4) in December while Business & Financial Operations rose 3% (+5) compared to a year ago.

The Office & Administrative MEI is another occupation metric, trending jobs for financial clerks as well as for non-accounting roles such as customer service representatives, desktop publishers, and file clerks. The index has historically trailed both the U.S. and Business & Financial Operations indices. Most recent results have been slightly down, the December index dropped 9 percent (-9) from November and decreased 2 percent (-2) year-over-year. The index also hit its low point in July 2009.

The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.

10

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Accounting-like occupations within both the Accounting & Tax Preparation segments across all major online job boards have reported positive expansion following two difficult years.

2 Job postings in 2008 fell 13 percent and in 2009

dropped a steep 51 percent. Postings were negative in January, February, and July of 2010, but were positive the rest of the year resulting in a 13 percent gain for the year.

Recruitment Activity On Monster, the vast majority (99 percent) of job postings from Accounting and Tax employers are provided by Accounting, Auditing, and Bookkeeping firms. Tax Return Services accounted for fewer than 1 percent of all Accounting job postings. The types of roles Accounting companies posted over the past year include roles primarily for Business/Strategic Management (35 percent), Accounting/Finance/Insurance (14 percent), and Medical/Health (13 percent).

Financial Services Job Postings by Category % Total Job Postings

Business/Strategic Management 35%

Accounting/Finance/Insurance 14%

Medical/Health 13%

IT/Software Development 7%

Human Resources 6%

Engineering 4%

Security/Protective Services 3%

Logistics/Transportation) 2%

Administrative/Clerical 2%

Sales/Retail/Business Development 2%

All Other 11%

2 Wanted Technologies, New Online Ads, Dec ‟08-Dec‟10

11

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Hiring Conditions Monster recruiters surveyed predict filling Accounting roles will move fairly quickly. Nearly half (44 percent) of

respondents expect opportunities to take less than 30 days to fill a position and 43 percent predict each opportunity will

take an average of 31 to 60 days. 13 percent plan for more than 60 days.

With the excess of candidates looking for work, it is no

surprise that recruiters are having a relatively easy time

finding qualified candidates. 75 percent of respondents

said their ability to find Accounting candidates was

“Good” to “Excellent”.

Those few respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it hard to find

candidates”. The primary reason recruiters and hiring

managers had a difficult time recruiting for accounting

positions was „an increased workload‟.

When looking at the challenges of the candidates

themselves, responses were few, but some hirers did

note there were „under qualified candidates‟, „not

enough candidates‟, and „overqualified candidates‟.

Recruiters noted the top five Accounting areas with planned hiring include:

1. Accounts Receivable/Payable (55 percent)

2. Reporting (44 percent)

3. Audit (34 percent)

4. Tax (33 percent)

5. Compliance (32 percent)

From Monster‟s recent survey to Accounting recruiters and hiring managers, most respondents (79 percent) are most

comfortable with going to online job boards to source candidates.

12

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Supply and Demand Analysis A comparison of Monster Job Seekers seeking employment in the Accounting and Auditing segment compared to the volume of job postings from Accounting and Tax companies reveals higher supplies of candidates than in other U.S. states in areas such as Montana, Idaho, and South Carolina denoted by the darker green areas in the map below. Recruitment for candidates in lighter green areas such as Vermont, Virginia, and Connecticut may be more competitive where the ratio of resumes per job posting is lower than in other areas nationwide.

The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting Accounting/Finance/Insurance opportunities followed closely by Administrative/Clerical.

Financial Services Job Seekers by Category % Total Job Postings

Accounting/Finance/Insurance 30%

Administrative/Clerical 20%

Customer Support/Client Care 7%

Human Resources 5%

Banking/Real Estate/Mortgage Professionals 5%

Business/Strategic Management 4%

Sales/Retail/Business Development 4%

IT/Software Development 3%

Medical/Health 2%

Project/Program Management 2%

All Other 18%

13

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

The remainder of this report will focus on key Accounting professions and how supply and demand measures up when recruiting for this multifaceted talent pool.

The supply and demand for Financial Analysts and Accountants/Auditors lead activity for this sector with more than half of job seeker and recruiter activity for this segment. Thirty-one percent of the talent pool and 20 percent of opportunities are for Financial Analysts. Twenty-eight percent of the talent pool and 33 percent of opportunities are for Accountants and Auditors. There may be a slight advantage towards hiring Financial Analysts.

Listed below are the top 20 out of over 140 Accounting job titles in which job seekers are interested. These 20 job titles

accounted for 74 percent of the Accounting talent.

# Job Titles (1-10) # Job Titles (11-20)

1 Financial Analyst 11 Accounting Manager

2 Accountant 12 Financial Analyst - Operations

3 Staff Accountant 13 Sr. Financial Analyst

4 Call Center Representative - Financial Services 14 Accounting Clerk III

5 Accounting Clerk 15 Finance Manager

6 Bookkeeper 16 Accounts Receivable Clerk

7 Medical Billing Clerk 17 Investment Specialist

8 Sr. Accountant 18 Budget Accounting Clerk

9 Accounts Payable Clerk 19 Cost Accountant

10 Reserves Analyst 20 Bill Collector

Job S

eekers

Em

plo

yers 1. Accountants and Auditors, 33%

2. Financial Analysts, 20%

3. Bookkeeping, Accounting, and

Auditing Clerks, 14%

4. Accounting/Tax Managers, 9%

5. Bill and Account Collectors,8%

6. Loan Officers, 5%

7. Cost Estimators, 5%

8. Tax Examiners/Revenue Agents, 5%

9. Budget Analysts, 1%

● ● ●

1. Financial Analysts, 31%

2. Accountants and Auditors, 28%

3. Bookkeeping, Accounting, and

Auditing Clerks, 19%

4. Bill and Account Collectors, 7%

5. Accounting/Tax Managers, 5%

6. Loan Officers, 4%

7. Cost Estimators, 3%

8. Tax Examiners/Revenue Agents, 2%

9. Budget Analysts, 1%

● ● ●

14

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

In reviewing the top 20 (out of more than 140 titles) Accounting job titles posted on Monster.com from January 2010 to December 2010, the first three (Senior Accountant, Financial Analyst, and Staff Accountant) each accounted for a seven percent share of all job postings. The top 20 specific Accounting job titles are listed below and account for 65 percent of the Accounting opportunities.

# Job Titles (1-10) # Job Titles (11-20)

1 Sr. Accountant 11 Medical Billing Clerk

2 Financial Analyst 12 Accounts Receivable Clerk

3 Staff Accountant 13 Tax Manager

4 Accounts Payable Clerk 14 Auditor

5 Accountant 15 Finance Manager

6 Sr. Financial Analyst 16 Assistant Controller

7 Cost Accountant 17 Sr. Tax Accountant

8 Accounting Manager 18 Credit Card Collections Specialist

9 Accounting Clerk 19 Investment Specialist

10 Bookkeeper 20 Bill Collector

Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the Accounting occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the supply.

How to Read the Matrix: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High growth in jobs and talent Focus on keeping talent Talent Shortage Not enough talent to meet demand At risk for competition

15

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Talent Surplus

Bookkeeping, Accounting, and Auditing Clerks is the only occupation in the Talent Surplus quadrant when compared to

other Accounting occupations, showing less job opportunities to meet job seeker needs. Recruiters need to plan for

additional time and resources to help screen increased volumes of candidates and could consider retraining or other

workplace development programs to ensure the surplus of candidates are put to work.

Incubator Opportunities (Growth Areas)

The growth occupations span a wide range of Accounting occupations. These areas are prime for candidate and/or job

opportunity expansion.

High Performance

There are two occupations in the high performance quadrant: Financial Analysts, and Accountants and Auditors. There

is an ample supply of both job postings and seeker resumes for these occupations.

Talent Shortage

There are no occupations in the Talent Shortage area, showing the current surplus of talent – and lack of job

opportunities - in the Accounting sector.

The matrix below summarizes occupational supply and demand from January 2010 through December 2010.

Talent Surplus High Performance Zone

Talent Shortage Incubator Zone

16

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

In the following analysis, we compare talent demand (job postings) with talent supply (resumes) across a range of characteristics for key Accounting occupations. The comparisons reveal the similarities and disparities between the available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas.

Career Level A steep 92 percent of job postings are for mid-career talent compared with 49 percent of new resumes. Due to this imbalance, recruiters may need to be flexible in their career requirement, either finding under or over-qualified candidates. .

Education Level Accounting recruiters are concentrated in searching for

candidates with at most a Bachelor‟s Degree (76 percent).

Though the talent supply pool is a fairly educated group,

as 63 percent have at least a Bachelor‟s Degree, recruiters

could be challenged to fill roles as many seekers are either

under or over-qualified.

Experience level Similar to the other metrics, candidates are spread among the categories while job postings are relatively concentrated. A high 41 percent of job opportunities are for candidates with 2 to 5 years of experience compared to the 22 percent of available seekers. Some recruiters will need to settle on candidates with more years of experience than desired which may lead to higher compensation for talent.

17

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Job Type Requirements While Accounting job opportunities are primarily for permanent roles (67 percent), a much larger share (80 percent) of job seekers desire this type of work. The remaining 33 percent of job postings are for temporary/contract work; this relatively high percentage indicates companies are hiring cautiously as the industry and economy recover. Recruiters will most likely be encouraging candidates to settle for temporary/contract roles rather than their desired permanent role.

Job Status Requirements Ninety-nine percent of job postings are for full-time employment and only 1 percent for part-time, while 83 percent of candidates are open to full-time employment and 16 percent for either. Employers should have an ample pool of talent to meet their needs within these criteria.

18

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Qualifications and Benefits As employers look through reams of resumes, the most important qualifications Accounting professionals place the greatest importance on when applying for opportunities is years of work experience (77 percent) and type(s) of work experience (70 percent) followed by soft skills/business knowledge (47 percent). Recruiters on the other hand value education when filtering through Accounting candidates. When asked “What were the most important qualifications in recruiting accounting talent”, hirers responded education (58 percent) and advanced degree (55 percent) followed closely by examples of work (54 percent) and soft skills/business knowledge (45 percent). Listed below are the most important factors Accounting professionals consider when evaluating a job opportunity. Note that these characteristics have been influenced by the recessionary economy and corporate scandals over the past few years, as „stability of position‟ and „company‟s reputation‟ rank in first and third, respectively. Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent. The top three items were the same, though ordered: salary, stability of position, and company‟s reputation.

19

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Compensation Compensation expectations for recruiters and candidates are in fairly close alignment giving encouragement that recruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $63,000 and the median salary candidates were seeking was $50,000. (Please note these salary requirements may represent total compensation for some job seekers and only a base salary for others.) The majority (fifty-four percent) of Accounting job postings on Monster offer a salary ranging from $40-80,000 (twenty-five percent, $40-60,000; twenty-nine percent, $60-80,000). On the other hand, most (sixty-six percent) job seekers expect to earn between $20-60,000 (thirty-two percent, $20-40,000; thirty-four percent, $40-60,000). The most significant disparity is at $60,000, where a higher percentage of employers offer greater salaries than candidates are requiring. Sixty-eight percent of Accounting job seekers expect to earn less than $60,000 though only fifty-three percent of employers plan to offer less than $60,000.

20

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

Diversify Your Recruitment Strategy in 2011

As the nation emerges Recruiters should keep in mind the following points when planning for the next 12-months.

Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence

and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the

applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals

access advice from industry experts and keep on top of trends. These communities also offer employers access to a

pool of targeted candidates.

Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate

frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and

eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search

application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters

save time and money sourcing candidates that precisely match their positions.

Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and

retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging

Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports

and webinars covering the most current issues facing not only job seekers, but recruiters as well.

Monster intelligence As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and driving innovative products and services to champion digital recruitment. We see tremendous value in providing our clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors, as well as general employment market trends. In direct response to our customers‟ needs for strategic human capital intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders and HR Executives real-time insight into market trends that will guide them in future recruitment planning. As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate Executives and Hiring Managers. These tools provide our customers with views into the labor market and comprehensive information to further their employment strategy. More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We welcome your insight and comments on the monster intelligence reports and encourage you to let us know your thoughts by providing feedback at [email protected] Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on Monster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologies by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather than intended behavior. Data is current through December, 2010 unless otherwise indicated.

21

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.