Melbourne Accounting & Finance Recruitment Market Outlook: A Personal Journey

Since joining TwoScots Recruitment in 2019 to lead the Qualified Accounting division, my experience in Melbourne’s accounting and finance recruitment market has been both challenging and rewarding. Although I was new to Melbourne, I brought with me a strong background in accounting and finance recruitment. One of the first differences I noticed was the emphasis Melbourne clients placed on candidates having relevant industry experience - whether in healthcare, retail, or other sectors.?

Navigating the Early Challenges: Pre-Pandemic to COVID-19

By early 2020, after 12 months of familiarising myself with the Melbourne market, I was beginning to establish a strong client and candidate base. I had just taken on a new team at TwoScots, Accounting Support, and the future looked promising. However, as COVID-19 struck, the landscape shifted dramatically. The recruitment market slowed down significantly—candidates were being made redundant, companies paused hiring, and uncertainty loomed.

Despite these challenges, there was a silver lining. Our strong client base within the education, healthcare, and not-for-profit sectors continued to recruit, providing a steady flow of opportunities during an otherwise quiet period. These sectors became our lifeline, demonstrating the importance of diversifying our client base.

Post-Lockdown Boom: The Great Resignation and Market Recovery

As Melbourne emerged from its multiple lockdowns, the accounting and finance market rebounded swiftly. The phenomenon known as the "Great Resignation" was real—suddenly, there were more jobs available than candidates to fill them. This shift gave candidates unprecedented bargaining power, with flexible working arrangements becoming a top priority. Companies had to adapt quickly to this new reality, offering more than just competitive salaries to attract top talent.

At TwoScots, we responded to these market changes by expanding our vision. We grew our headcount across established teams, ventured into the Senior Finance market, and even extended our reach to interstate recruitment. The demand for accounting and finance professionals surged, and we were well-positioned to meet the needs of both clients and candidates.

Looking Ahead: A More Considered Approach

As we enter the 2025 financial year, the market appears to be returning to pre-pandemic levels. There are opportunities at all levels, and confidence is gradually being restored. However, there is a noticeable shift in how organisations approach hiring. Companies and hiring managers are now taking a more considered approach, prioritising the right fit over filling positions quickly.

Flexible working remains a critical factor for candidates, and companies that insist on a full five-day office presence often struggle to attract the best talent. The market has evolved, and so too have the expectations of candidates and clients alike.

In summary, my journey in Melbourne’s accounting and finance recruitment sector over the past five years has been one of adaptation, growth, and resilience. The market continues to evolve, and at TwoScots, we remain committed to navigating these changes with a focus on delivering exceptional results for our clients and candidates.?