Recruiting Market Report - May 2023

Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the May 2023 edition of The ASP Team Market Report:

Quinn Finnigan - Recruiting Services Leader

Joss Stokke - Recruiting Practice Leader

​What are we hearing from candidates?
Benefits: In addition to annual salary, candidates seem very focused on benefits. This is likely due to the sharply rising cost of healthcare and inflation over the past few years. Any time we ask a candidate about their salary expectations, they seem to reply with “What are the benefits?” Because of the high expense of insurance, candidates want to know upfront what it will cost them. Additionally, candidates are interested in knowing details, including waiting periods, of retirement contributions/matches, bonuses, and PTO up front versus as a part of the offer as has been more of the normal course in years past. It is important for clients to make detailed benefits information available at the beginning of the hiring process to ascertain the total package is in line with a candidate’s expectation. Some candidates are willing to lower their salary requirements if the benefits are strong.
 
What are we hearing from clients?
Multiple job changes: “Why do candidates seem to move companies so much? I want someone with good, long tenure.” There are many reasons for candidates to move around. It could be a step up in position, better pay, a different size company or industry, culture or management changes, ability to work remotely – the list goes on. Additionally, Covid caused some folks to make a temporary change. Looking more at what the overall progression of the candidate is versus individual job changes may cause a different reflection on their career path. Switching jobs has been a windfall for many workers over the past year: Roughly 49% of job-switchers saw their real hourly wage increase faster than inflation last year, compared with just 42% of workers who stayed in the same job.
 
What am I feeling about the hiring market?
Demand continues: The demand for accounting and finance professionals continues. The accounting career field is expected to grow by 6% from 2021 to 2031. Many of those openings are to replace retirements and workers who transfer to different occupations. Additionally, globalization, a growing economy, and a complex tax and regulatory environment are expected to continue leading the strong demand. Although technology change from cloud computing, artificial intelligence (AI), and blockchain may automate some routine accounting tasks, this change is not expected to reduce overall demand and is expected to make accountants’ advisory and analytical duties more prominent.

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ASP Hiring Statistics - 2023
24 - Days to Place (avg.)
$177,406 - Avg. Placed Controller Salary
42% - Percent of Diversity Hires
86% - Percent of time we get interviews for our clients

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Recent Placements
Controller - Distributor - Lynnwood, WA
Controller - Large nonprofit - Seattle
Controller - Construction - Seattle

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