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03/05/2016
Quarterly Market Update and views from the team
Quarterly Market Update and views from the team Welcome to our latest Legal Accounts Quarterly Market Update, covering January to March 2016. The first quarter of 2016 got off to a record start for the team here at Balance Recruitment, with a new company record quarter, indicating both our exceptional recruiting prowess (ahem!), and also reflective of a surge in hiring activity within the Legal Accounts niche during the first quarter of the year, as also evidenced last year. We may now see a slight slowdown in the Q2 period with the possible Brexit looming, followed by a spike in hiring activity if Remain wins the vote. We will soon be publishing our 2016 Legal Accounts Salary Survey. Many thanks to all of you who participated in contributing data for the survey. We’ve already crunched some of the numbers, which show a slight increase in the number of overall participants receiving a pay rise in the 12 months previous, rising from 66% to 67% (broken down here by firm size). Large firm (50+ Partners) = 75%Medium firm (15-49 Partners) = 81%Small firm (1-14 Partners) = 59%Areas in highest demand:Financial/Group AccountantsFinance Systems AnalystsRevenue ControllersLegal CashiersAccounts AssistantsAreas in short supply:Financial/Group AccountantsFinance Systems AnalystsPartnership AccountantsLegal BillersYear on Year growth in number of vacancy instructions received during Q1 period: 6% increaseKey highlights from the APSCo produced ‘Professional Recruitment Trends’ survey (March 2016):Placement and demand for staff continue to outstrip 2015 levels with salaries up +5% overallDemand for Finance staff was the strongest (by discipline) with +13% y/y increase, followed by Marketing at +10% y/ySalaries for accountancy staff saw a +3.4% y/y increaseSuccessful appointments we have made during the Q1 period include:Group Finance Projects ManagerFinancial ControllerUK AccountantSenior Interim AccountFinance ManagerPartnership AccountantSenior Credit ControllerRevenue ControllerAccounting CoordinatorFinance Systems AnalystClient CashierLegal Biller+ many more“It’s been great to get 2016 off to such a strong start, with each member of our legal accounts team successful managing a wide variety of client requirements across all seniority levels. We have seen further development of our client base outside of London, and are now working with long term clients across a wider range of disciplines with vacancies covering Risk & Compliance, Marketing & BD, Knowledge Management and HR. Q2 may see a dip in activity due to uncertainty over the EU referendum vote, but we hope that will be short term and only marginal. Forgive us for being opportunistic, but this could be a great window of opportunity to take advantage of if you do have requirements to fill!”-Richard Hooper“Whilst we enjoy being kept on our toes, and responding quickly to our clients, we have experienced a few firms who are not making the best use of the time available when hiring recently. An urgency has been placed on receiving ...
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