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2011 Tax & Accounting Job Market

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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 …

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


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  • 1. UNITED STATESTAX &ACCOUNTING2011 JOB CANDIDATESInsights and Analysis from Professionals,Recruiters and Hiring ManagersSponsored by:Brought to you by Monster Intelligence
  • 2. 2TAX & ACCOUNTING – 2011 JOB CANDIDATESAt a time of high unemployment and low hopes, jobs in the accountingand auditing fields are expected to grow. Accountants and auditorsshould enjoy much faster than average employment growth from 2008through 2018, according to the Occupational Outlook Handbook 2010-2011. The predicted growth of 22 percent, or 279,400 new jobs, thehandbook said, will result from “an increase in the number ofbusinesses, changing financial laws, and regulations, and greaterscrutiny 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 TABLE OF CONTENTSare looking more positive and employers with strong capital will belooking to expand in 2011. Hiring Talent in 2011 3 Accounting Talent 3The best prospects await those with professional licenses, such as the Career Talent 5CPA credential, according to the U.S. Department of Labor‟s Bureau of Education Talent 5Labor Statistics, which releases the Occupational Outlook Handbook Experienced Talent 5every other year. Job Search Conditions 6Monster leveraged more than 1.2 million Tax & Accounting resumes Market Conditions 7coupled with online job postings for talent across the United States in Market Overview 7order to gain insight into candidates and employers. Data is current Online Recruitment Trends 9through December 2010 unless otherwise noted. Additionally, Monster Recruitment Activity 10surveyed active Tax & Accounting (referred to in this report as simply Hiring Conditions 11Accounting) professionals, HR professionals and hiring managers topresent a snapshot of activity within the United States on Monster. Thesurveys were conducted between November and December 2010. Supply and Demand Analysis 12 Labor Performance Matrix 14 Career Level Requirements 16About the Sponsor: Education Level Requirements 16 Experience Requirements 16 Job Type Requirements 17 Job Status Requirements 17 Qualifications and Benefits 18Ajilon Finance - Ajilon Finance is a leader in specialized financial Compensation 19staffing and recruitment. We place premier accounting, financial andbookkeeping professionals in temporary and direct-hire positions. In Conclusion 20addition, we also provide a wide range of finance consulting solutionsto companies on a project or interim basis, including senior-level Monster Intelligence 20financial and operations expertise. Please visit www.ajilonfinance.comfor more information.Accounting Principals - Accounting Principals is a leader in therecruitment and placement of accounting and finance professionals.Accounting Principals offers a complete range of workforce solutions inaccounting, finance, mortgage and banking through our nationwidebranch network and team of experienced professionals. For moreinformation, please visit www.accountingprincipals.com.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 3. 3HIRING TALENT IN 2011Accounting Talent SkillsThe following data analyzes the supply (resumes) of tax Listed in the chart below are the top skills madeand accounting professionals on Monster nationwide. It available by accounting candidates on theirprovides a current picture of key Accounting job seeker Monster accounts. The list is full of technical skills,availability in the United States. including computer skills, software packages, and accounting-related terms. The most popular softListed among the nine Accounting occupations skills include Communications and Leadership,reviewed, the top two occupations in supply across the mentioned in over 8 percent of accounts, as well asnation accounted for more than one-half (59 percent) of Problem Solving.the candidates. 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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 4. 4In 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 moreformal 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 insupply/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 ofrespondents) however, employers also view Work Ethic, Dependability, Self-Confidence, Communication, Ability toWork Under Pressure, Teamwork, and Initiative skills as critical as well, whereas employees find these skills lessimperative to the job (fewer than 50 percent of respondents).Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 5. 5The 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 abachelor‟s degree and more than five years of experience.Career TalentForty-nine percent of Accounting job seekers in 2011 are mid- Career Levelcareer. Twenty-five percent are managers or above while 26 Student Executivepercent are emerging into today‟s workforce. 9% 3% Manager Entry Level 22% 17% Mid Career 49%Education TalentSixty-three percent of Accounting job seekers in 2011 have at Education Levelleast a bachelor‟s degree. Twenty-four percent have an CertificationAssociate degree or some-college. -Vocational Masters or High School 4% Above 9% 18% Associate/ Some- College 24% Bachelors 45%Experienced TalentThe majority (59 percent) of Accounting job seekers have Years of Work Experiencemore than five years of work experience. The second largestgroup has two to five years of experience (22 percent). 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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 6. 6Job Search ConditionsThe primary reason Accounting professionals are looking for a job is due to layoffs, which shows that despiteimprovements in the economy, uncertainly still exists. The second most popular response was re-entry into theworkforce. With the uncertainty of the economy many stay at home mom‟s, retired individuals, and those unemployedfor 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 aresomewhat finding success in meeting theirexpectations and requirements. Forty-one percent arefinding „Good‟ to „Excellent‟ conditions, which isslightly encouraging news in this rebounding sector.Those respondents that reported „Average‟ to „Poor‟conditions were asked “What makes it challenginglooking for a job”. The two primary reasons jobseekers had a difficult time finding accountingpositions were „getting an employer or recruiter tocontact them‟, „too few jobs‟ and „finding a job thatmatches what they want (e.g., salary, locations, etc.)‟.From Monster‟s recent survey to Accountingprofessionals, the majority of respondents (65percent) are most comfortable with going to online jobboards to search for opportunities and post theirresume.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 7. 7Market ConditionsAfter experiencing a dip the past couple of years, Accounting professions have reported encouraging signs of expansionas well as a greater balance in its talent demand versus talent supply.Market OverviewFollowing the corporate scandals in the 1990s, the Tax and Accounting profession flourished as accountants were indemand to audit firms, uncover discrepancies, and help companies adhere to the rush of new regulations. In someoccupations, demand exceeded supply. The economic downturn over the past few years has stabilized the equation asaccounting 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 ofthe top 100 companies dropped 2.85%, the first ever decline in the 23 years that this report has been compiled. Not onlydid 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 14.9% to 16,945. 2009 % of Total % Change Employment 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. Thesefirms typically focused on niches likely to do well in tough times, helped with bankruptcies, and assisted clients insurviving the recession.Going forward, accounting firms are gearing up for a slow recovery by creating new practice units, improvingcommunication 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 areforecasted to rise by 279,400.1 Accounting Today‟s “Top 100 Firms 2010”Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 8. 8The top two Accounting roles are listed below. Occupation (Employment in thousands) 2008 Projected % Change 2018 2008-18 Bookkeeping, Accounting, and Auditing 2,063.8 2,276.2 +10% Clerks 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 ofbusinesses, further globalization, evolving tax standards (including the International Financial Reporting Standards), andstricter financial laws and regulations.In order to meet recruiters growing demand, the Accounting sector will need to continue to recruit a strong pipeline ofcandidates as well as successfully develop senior accounting teachers, which has been a challenge in the past, in orderto 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 manyaccounting positions do they intend to fill in the next six months” and “What percent of the accounting positions theyexpect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling alimited numbers of roles (84 percent plan to hire less than ten positions) and very limited new roles (52 percent plan thatless than ten percent of positions will be new).Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 9. 9Online Recruitment TrendsThe Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activityby 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.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 10. 10Accounting-like occupations within both the Accounting & Tax Preparation segments across all major online job boards 2have reported positive expansion following two difficult years. Job postings in 2008 fell 13 percent and in 2009dropped a steep 51 percent. Postings were negative in January, February, and July of 2010, but were positive the restof the year resulting in a 13 percent gain for the year.Recruitment ActivityOn Monster, the vast majority (99 percent) of job postings from Accounting and Tax employers are provided byAccounting, Auditing, and Bookkeeping firms. Tax Return Services accounted for fewer than 1 percent of all Accountingjob postings.The types of roles Accounting companies posted over the past year include roles primarily for Business/StrategicManagement (35 percent), Accounting/Finance/Insurance (14 percent), and Medical/Health (13 percent).Financial Services Job Postings by Category % Total Job PostingsBusiness/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‟10Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 11. 11Hiring ConditionsMonster recruiters surveyed predict filling Accounting roles will move fairly quickly. Nearly half (44 percent) ofrespondents expect opportunities to take less than 30 days to fill a position and 43 percent predict each opportunity willtake 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 nosurprise that recruiters are having a relatively easy timefinding qualified candidates. 75 percent of respondentssaid 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 findcandidates”. The primary reason recruiters and hiringmanagers had a difficult time recruiting for accountingpositions was „an increased workload‟.When looking at the challenges of the candidatesthemselves, responses were few, but some hirers didnote there were „under qualified candidates‟, „notenough 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 mostcomfortable with going to online job boards to source candidates.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 12. 12Supply and Demand AnalysisA comparison of Monster Job Seekers seeking employment in the Accounting and Auditing segment compared to thevolume 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 competitivewhere 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 targetingAccounting/Finance/Insurance opportunities followed closely by Administrative/Clerical.Financial Services Job Seekers by Category % Total Job PostingsAccounting/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%Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 13. 13The remainder of this report will focus on key Accounting professions and how supply and demand measures up whenrecruiting for this multifaceted talent pool. 1. Financial Analysts, 31% 1. Accountants and Auditors, 33% Employers Job Seekers 2. Accountants and Auditors, 28% 2. Financial Analysts, 20% 3. Bookkeeping, Accounting, and 3. Bookkeeping, Accounting, and Auditing Clerks, 19% Auditing Clerks, 14% 4. Bill and Account Collectors, 7% 4. Accounting/Tax Managers, 9% 5. Accounting/Tax Managers, 5% 5. Bill and Account Collectors,8% 6. Loan Officers, 4% 6. Loan Officers, 5% 7. Cost Estimators, 3% 7. Cost Estimators, 5% 8. Tax Examiners/Revenue Agents, 2% 8. Tax Examiners/Revenue Agents, 5% 9. Budget Analysts, 1% 9. Budget Analysts, 1% ● ● ● ● ● ●The supply and demand for Financial Analysts and Accountants/Auditors lead activity for this sector with more than halfof job seeker and recruiter activity for this segment. Thirty-one percent of the talent pool and 20 percent of opportunitiesare for Financial Analysts. Twenty-eight percent of the talent pool and 33 percent of opportunities are for Accountantsand 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 titlesaccounted 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 CollectorCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 14. 14In reviewing the top 20 (out of more than 140 titles) Accounting job titles posted on Monster.com from January 2010 toDecember 2010, the first three (Senior Accountant, Financial Analyst, and Staff Accountant) each accounted for aseven percent share of all job postings. The top 20 specific Accounting job titles are listed below and account for 65percent 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 competitionCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 15. 15Talent SurplusBookkeeping, Accounting, and Auditing Clerks is the only occupation in the Talent Surplus quadrant when compared toother Accounting occupations, showing less job opportunities to meet job seeker needs. Recruiters need to plan foradditional time and resources to help screen increased volumes of candidates and could consider retraining or otherworkplace 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 jobopportunity expansion.High PerformanceThere are two occupations in the high performance quadrant: Financial Analysts, and Accountants and Auditors. Thereis an ample supply of both job postings and seeker resumes for these occupations.Talent ShortageThere are no occupations in the Talent Shortage area, showing the current surplus of talent – and lack of jobopportunities - in the Accounting sector.The matrix below summarizes occupational supply and demand from January 2010 through December 2010. Talent Surplus High Performance Zone Incubator Zone Talent ShortageCopyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 16. 16In the following analysis, we compare talent demand (job postings) with talent supply (resumes) across a range ofcharacteristics for key Accounting occupations. The comparisons reveal the similarities and disparities between theavailable jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting theirexpectations and development areas.Career LevelA steep 92 percent of job postings are for mid-careertalent compared with 49 percent of new resumes. Due tothis imbalance, recruiters may need to be flexible in theircareer requirement, either finding under or over-qualifiedcandidates..Education LevelAccounting recruiters are concentrated in searching forcandidates 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, recruiterscould be challenged to fill roles as many seekers are eitherunder or over-qualified.Experience levelSimilar to the other metrics, candidates are spread amongthe categories while job postings are relativelyconcentrated. A high 41 percent of job opportunities arefor candidates with 2 to 5 years of experience compared tothe 22 percent of available seekers. Some recruiters willneed to settle on candidates with more years ofexperience than desired which may lead to highercompensation for talent.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 17. 17Job Type RequirementsWhile Accounting job opportunities are primarily for permanent roles (67 percent), a much larger share (80 percent) ofjob seekers desire this type of work. The remaining 33 percent of job postings are for temporary/contract work; thisrelatively high percentage indicates companies are hiring cautiously as the industry and economy recover. Recruiterswill most likely be encouraging candidates to settle for temporary/contract roles rather than their desired permanent role.Job Status RequirementsNinety-nine percent of job postings are for full-time employment and only 1 percent for part-time, while 83 percent ofcandidates are open to full-time employment and 16 percent for either. Employers should have an ample pool of talentto meet their needs within these criteria.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 18. 18Qualifications and BenefitsAs employers look through reams of resumes, the most important qualifications Accounting professionals place thegreatest importance on when applying for opportunities is years of work experience (77 percent) and type(s) of workexperience (70 percent) followed by soft skills/business knowledge (47 percent). Recruiters on the other hand valueeducation when filtering through Accounting candidates. When asked “What were the most important qualifications inrecruiting accounting talent”, hirers responded education (58 percent) and advanced degree (55 percent) followedclosely 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. Notethat these characteristics have been influenced by the recessionary economy and corporate scandals over the past fewyears, 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.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 19. 19CompensationCompensation expectations for recruiters and candidates are in fairly close alignment giving encouragement thatrecruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $63,000and the median salary candidates were seeking was $50,000. (Please note these salary requirements may representtotal 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 seekersexpect 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 thancandidates are requiring. Sixty-eight percent of Accounting job seekers expect to earn less than $60,000 though onlyfifty-three percent of employers plan to offer less than $60,000.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 20. 20Diversify Your Recruitment Strategy in 2011As 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 presenceand sourcing candidates. Todays recruiters must actively network across the Internet to get a more holistic view of theapplicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individualsaccess advice from industry experts and keep on top of trends. These communities also offer employers access to apool of targeted candidates.Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicatefrequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs andeliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Searchapplication, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiterssave 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 andretain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveragingMonster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reportsand webinars covering the most current issues facing not only job seekers, but recruiters as well.Monster intelligenceAs the premier digital employment solution, Monster has consistently maintained a leadership position in defining anddriving innovative products and services to champion digital recruitment. We see tremendous value in providing ourclients, 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 capitalintelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leadersand 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 CorporateExecutives and Hiring Managers. These tools provide our customers with views into the labor market andcomprehensive 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. Wewelcome your insight and comments on the monster intelligence reports and encourage you to let us know yourthoughts by providing feedback at Intelligence@monster.comMonster is the primary source of information for this report; it should only be interpreted as a definitive activity report onMonster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologiesby dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior ratherthan intended behavior. Data is current through December, 2010 unless otherwise indicated.Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.
  • 21. 21Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission ofMonster, Inc.