Hire Point Recruiting's Q2 Newsletter

Market Insights from HPR

We are excited to share some insights into the current market trends we're observing at Hire Point Recruiting. Despite the ongoing shifts, the demand remains robust, especially in the Accounting and Finance sectors within the tri-state area. However, we've noticed some changes in the hiring process that we want to keep you informed about.

Evolving Hiring Processes:

• Longer Interview Processes: Clients are taking more time in their interview processes, being meticulous about the profiles they target for specific roles.
• Raising the Bar: Previously, candidates who met 80% of the job requirements had a strong chance of landing interviews and roles. Now, clients are seeking candidates who meet all the criteria, both hard and soft skills.
• Patience for Perfection: It's becoming common for roles to remain open for extended periods, as companies are willing to wait for the perfect candidate who checks every box.

Shifts in Talent Demand:

• Specific Profiles: Regardless of the position level, companies are steadfast in their pursuit of specific profiles. The approach has shifted from finding the "Best Athlete" to seeking "plug and play" candidates who can seamlessly fit into roles.
• Backfill Positions Dominant: Most of the roles we are working on are backfill positions, with fewer opportunities related to transformational projects or newly created teams.

Market Hesitancy:

With the upcoming election, both companies and candidates are exercising caution. The outcome of the election could influence the job market in several ways, including:

• Economic Policies: Potential changes in policies, such as ESG (Environmental, Social, and Governance) regulations.
• Sectoral Factors: Varying impacts across different industry sectors.
• Technological Changes: Advancements and innovations affecting job requirements.
• Global Economic Changes: Shifts in the global economy influencing local markets.
• Labor Market Dynamics: Changes in the supply and demand of talent.

We will continue to monitor these trends closely and keep you updated on any significant developments.

Life after Public Accounting?

Are you thinking about leaving public accounting but unsure about your next steps? The exciting news is that your experience in public accounting opens a wealth of career opportunities, allowing you to choose a path that aligns with your interests and goals:

• Partner Track: Stay at your firm and work towards becoming a Partner, continuing to grow and advance within public accounting.
• SEC Reporting: Join a publicly traded company and contribute to the preparation of 10K/10Q reports, ensuring accurate and compliant financial disclosures.
• Technical Accounting: Engage in research and write memos on the financial impact of technical accounting issues such as revenue recognition, leases, and M&A transactions.
• GL Accounting/Operational Accounting: Focus on general ledger or operational accounting, playing a key role in the financial management of an organization.
• FP&A: Participate in financial planning and analysis, helping organizations with budgeting, forecasting, and strategic planning.
• Internal Audit: Conduct internal audits to ensure compliance and improve operational efficiency within companies.
• Consulting: Use your expertise to advise businesses on financial strategies, operational improvements, and navigating complex financial landscapes.
• Government Roles: Consider roles with agencies such as the IRS or FBI, where you can apply your accounting skills in a regulatory or investigative capacity.

Each of these paths offers distinct opportunities and challenges, enabling you to shape your career based on your unique skills and aspirations. Embrace the potential to explore new horizons and find the path that best suits you.

Watch our Testimonial Video Highlighting Client & Candidate Feedback!

Thank you for being a part of our journey! Here's to many more years of growth and success.

HPR to Release 2025 Salary Guide in October '24

We are excited to announce that HPR will be releasing our highly anticipated 2025 Salary Guide this coming October 2024. One of the most frequent questions we receive from our clients is about the accuracy of salary claims made by candidates. The short answer is, "Yes, they are making as much as they say!"

A recent announcement by EY confirms this trend, as they have increased their incoming first-year salaries by 10%. You can read more about it here.

Here are a few reasons behind this salary increase:

• Shortage of Accountants: There is a significant shortage of candidates entering the accounting field, creating a high demand for qualified professionals.
• Cost of College/CPA: Achieving a CPA certification requires 150 credit hours, which is also a requirement to join a public accounting firm. For instance, Big 4 firms frequently recruit from universities like Lehigh University, where annual tuition is approximately $78K. The total cost of education can reach around $390K.

Stay tuned for our comprehensive 2025 Salary Guide, which will provide detailed insights and data to help you navigate the evolving salary landscape.

HPR Announcements

We are excited to announce a few updates since the last Hire Point Recruiting Newsletter.?

Welcome Billy Marchant to Our Team!

We are thrilled to announce the newest member of our team, Billy Marchant! With over a decade of expertise in recruiting, Billy has a proven track record of supporting clients across a wide range of positions, from Analyst to CFO. His dedication and comprehensive understanding of the industry make him a valuable asset to our organization.

Please join us in welcoming Billy Marchant to our team! Connect with him on LinkedIn: Billy Marchant. We are confident that his contributions will significantly enhance our services and help us continue to excel in our recruiting efforts.

Celebrating Hire Point’s Milestone!

We are thrilled to announce that Hire Point has officially surpassed two years in business! Over these past two years, we have experienced remarkable growth both personally and professionally.

Here are some of our key achievements:

Team Expansion: We've expanded our team by an impressive 600% and are excited to welcome three more hires next year.

Employee Benefits: We successfully implemented a 401k program for our team members.

Service Development: Our interim/temporary practice is now fully established.

Onboarding Excellence: We developed comprehensive onboarding and training processes for new hires.

Technological Advancements: We've adopted cutting-edge technologies to stay competitive in the market.

Office Expansion: We've built a new office and are already planning to move to a larger space.

Client Partnerships: We've secured over 80 contracts, collaborating with startups to Fortune 500 companies.

Candidate Support: We've assisted over 5,000 candidates with their job searches, offering resume assistance, coaching, and interview preparation.

HPR Referral Program

HPR is thrilled to introduce our referral program! Refer a candidate or client to us and receive a $1,000 Amazon gift card as a token of our appreciation. Let’s achieve success together!

How should I refer someone?

Reach out to [email protected] directly or feel free to submit the information as follows:

https://www.hirepointrecruiting.com/contact/

Terms and Conditions: To qualify for the referral fee, HPR must first generate revenue from the referred candidate or client and meet all contractual obligations before processing the payment.

Leadership Team

[email protected] → Kate Donato , Managing Partner

[email protected] → Anthony Carrea , Managing Partner