Accounting and Finance Market Update - H1 2024

In the first half of 2024, the demand for qualified accountants at all levels in Ireland has remained steady. Several sectors, including funds, payments, insurance, Aircraft Leasing, and banking, are experiencing consistent growth, which is contributing to this steady demand. Additionally, many internal organisations are launching projects and system improvements, creating a need for financial analysts, financial business partners, and FP&A analysts. Overall, demand across all sectors has been strong throughout the year.

Insurance

In the first half of 2024, the insurance market has shown a steady demand for qualified accountants across various levels, from Newly Qualified to a number of C-Level suite roles also. The primary area of focus is around bedding in IFRS 17 reporting into a BAU position however some companies are experiencing some difficulties with legacy systems etc. While salary increases remain somewhat stagnant, the overall demand is relatively stable. Many businesses are currently cost-conscious, leading to a steady flow of role openings either due to gradual growth or replacement of existing positions. Notably, around 70% of Coopman’s placements in the insurance sector have been for replacement hires, with the remaining 30% driven by company expansion. Looking ahead to the rest of the year, we anticipate continued steady demand for qualified accountants at all levels within the insurance industry.

Aircraft Leasing

In the aircraft leasing sector in Ireland, we’ve observed a steady demand for qualified accountants at all levels in the first half of the year. This hiring influx is driven by new entrants to the market and several aircraft lessors expanding their operations, leading to a stable and steady local market in Ireland.

The trends and outlook for the remainder of the year suggest that this consistent growth will continue, with an increasing focus on hires within the sustainability space, particularly in group functions. This area is expected to see significant growth within the aircraft leasing sector as it becomes more prominent. For financial accountant roles, the emphasis will be on financial reporting, FP&A work, and risk profiles.

Asset and Investment Management

In H1, we’ve observed a steady demand for qualified accountants at all levels within the asset and investment management sector, from heads of financial planning to newly qualified accountants. This demand is largely driven by new entrants to the market and the rapid scaling of these companies, including several newly established hedge funds and asset management firms.

Additionally, companies are strategically expanding their operations in Ireland due to a shortage of accountants on the eastern coast of America and in mainland Europe.

Looking ahead, we expect this trend to continue, with a sustained demand for accountants throughout the remainder of the year. We also anticipate an increase in salaries within this sector, driven by the high demand for qualified professionals. Understanding the salary ranges for these roles will be crucial to align with market expectations.

If you are concerned about how the current market may affect your position, or to discuss how we can support your hiring processes in the current market, please get in touch with Director and Co-Founder Mark Fallon at [email protected], or at +353 833609333.