Recruiting Market Report - July 2024

Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the July 2024 edition of The ASP Team Market Report:

Quinn Finnigan - Recruiting Services Leader

Joss Stokke - Recruiting Practice Leader

What are we hearing from candidates?
"I am willing to take a lateral in position and pay for opportunity" – Salaries in accounting and finance increased significantly during Covid. Candidates seem to realize that those hikes in compensation have cooled down. They are more open to looking at new opportunities that are a lateral to their current position and pay. They aren't demanding as big of a jump in salary to make a change as long there is some growth potential. 

What are we hearing from clients?
"Let’s have them prove themselves" – A few of our clients have been hiring candidates into a role one peg below where they really need someone. They want that candidate to prove themselves before getting the title and position the company is actually wanting to fill. This is primarily happening when clients are replacing an outgoing CFO and hiring in at the Director of Finance or Controller level. It’s an interesting approach especially given the shortage in up-and-coming CFOs due to the lack of accounting graduates in the late 90's through early 2000's. Companies are willing to train and develop a candidate for the position and are looking to promote when they feel the person is ready. Part of it is likely driven by cost reduction efforts and part of it relates to wanting to really get to know someone and gain trust and confidence before making the commitment to them as their organization’s true CFO. This approach would only work if the company has leeway for training and someone available to provide guidance and coaching. 

What am I feeling about the hiring market?
Still going strong – The economy is doing well and jobs continue to be added but not at the same rate as recent quarters. Additionally, unemployment increased slightly to 4.1% in June. It is the first time the rate has been above 4% in two years. Forecasts for hiring are optimistic for the second half of the year. An Express Employment Professionals-Harris Poll survey released on July 24, 2024 has 81% of hiring managers expressing a positive outlook for their company’s hiring opportunities for the reminder of 2024. 

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ASP Hiring Statistics - 2024
44 - Days to Place (avg.)
$164,394 - Avg. Placed Controller Salary
36% - Percent of Diversity Hires
93% - Percent of time we get interviews for our clients

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Recent Placements
Controller - Manufacturing - Hood River, OR
Accounting Manager - Construction - Seattle, WA
Controller - Manufacturing - Kent, WA

View Our Current Openings

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Top Candidates
Take a look at some examples of accounting and finance candidates we are working with currently.

View Our Top Candidates

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Hiring Smarter with The ASP Team
Check out the latest episode of our accounting and finance recruiting podcast!

Episode 5 – The Value of Hiring Late-Career Professionals