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Finance. The number of vacancies grows constantly

Olga Ivanova, Manager of Antal Russia Finance Recruitment department

We are seeing the largest significant growth of the number of vacancies in the finance discipline since the end of 2009, especially in such sectors as Pharmaceutical and FMCG. Last year companies generally looked for fairly junior and inexpensive professionals (with the salary between 100 000 – 150 000 RUR per month), whereas now they have started to open vacancies to more senior candidates. Now the general number of finance vacancies are in the salary bracket of between 100 000 RUR to over 180 000 RUR per month. Employers are more actively looking for high profile candidates for senior manager and finance director positions to replace ineffective employees or to fill new vacancies. Also we are supporting a number of start-ups where senior finance professionals are needed.

Average salaries in finance are still below the level it used to be before the downturn, but this gap gradually decreases. Employers now more often ask us to estimate the realistic budget for position in order to follow the market trend. But often companies need to decrease the role requirements to fit the limited budget for recruitment they have. 

The supply of quality candidates in the market has shortened in the first months of 2010.
Now people are not so active in regarding job opportunities, because they are waiting their bonuses for 2009. Finance professionals involved in tax and financial audit simply have no time to update their CVs and start looking for a new job.

Now is the perfect time to change jobs – the hardest times have passed, people are less afraid to lose their jobs because of meetings with recruiters and potential new employees. Now the vacancies are generally opened in stable companies targeting future growth, which open the opportunity for a quick career promotion for finance professionals. Also the seasonal lack of active job seekers on the market gives an advantage in competitive race.

Accountancy. A good season to change jobs

Natalia Yaklushina, principle consultant of Antal Russia Accountancy Recruitment department

The beginning of the year is traditionally a slow time in the accountancy recruitment market. The active migration of accountancy professionals from one company to others will start at the end of the March after the year-end reporting.

But even now we can say that this year is marked with the growth of accountancy recruitment activity. New vacancies appear in start-up companies more often especially in trade, FMCG and cosmetics companies as well as in production sector.

Now chief accountants and deputy chief accountants ask us to show them candidates to form the pull of professionals and are planning to return to discussing all the details with them when they have more time after close of financial year.

Some companies started looking for candidates to replace their chief accountants with whom they are not satisfied in advance. Usually if the company is looking forward to replacing such professionals they do it this time of the year as the most appropriate season. More opportunities are now available for deputy chief accountants to be promoted if the chief accountant leaves the company.

The popularity of such positions as Chief Accountant/Finance Manager (one role) is growing. It is the person who deals with Russian and international financial reporting (including budgeting and planning). A number of businesses are entering the Russian market and they are interested to hire professionals who will be totally responsible for accountancy and who in 2-3 years (if the company continues to develop) can grow a team of finance professionals and accountants and become Finance Director. Such vacancies can be interesting to chief accountants aimed to grow to Finance Director as a middle step on this way.

Banking

Employers in Retail banking are looking for strong professionals in such fields as risk management and bad debts restructuring and collateral. “Strong market players are looking for managers to develop new products. Banks targeted at development, hire personnel to open new branches. Some banks which fired too many of front-of-office personnel now fill these gaps with new people”, comments Tatiana Bartiouk, Senior Consultant on the Antal Russia banking team.

Elvira Chekmareva, Principle Consultant on the Antal Russian IB team tells: “The demand in professionals in the field of deals structuring returned at the end of 2009 in Commercial and Investment banking. A number of Russian banks are developing Corporate and Investment banking departments as well as some Western banks restructuring theirs. Therefore strong managers, able to build up a team and implement new products are in demand. Investment Banks need professionals with strong sales skills, the ability to develop new business with an entrepreneurial and creative approach. The number of vacancies is growing in back and middle office (risk, control). Small companies entering Russian Investment Banking market open new vacancies. The growth of recruitment activity in Private Equity Funds is expected by the middle of 2010”.

This entry was posted on March 3, 2010 at 7:08 am and is filed under Our News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.