Accountancy & Finance Job Market H1 2025
What a funny old H1 it’s been.
The accountancy and finance job market / candidate market and general recruitment landscape over the past 5 years has been weird!
Very changeable, red hot then suddenly a damp squib then back to brutal heatwaves – – if you were a weather forecaster it would be a challenging time to be stood in front of the camera placing bets!
H1 2025 has been no different. If it were a relationship, you would be calling it an On/Off.
Most of the clients and candidates we speak to we would describe as reasonably optimistic but nigglingly cautious.
In the main the UK job market has been slowing for the past 36 months – the ONS has collated data which shows that month on month the vacancy number in the UK has declined from 1.3million to 700,000 (last week)
The finance market has tracked this holistic market – it’s slowed – and there has definitely been a lower volume of vacancies for qualified accountants through H2 2024 and H1 2025 versus 2022 & 2023.
With that said – there has still been very solid demand for good people – especially across management accounting, financial reporting, business partnering, financial management and financial control levels.
Some recruiters might be finding it hard – but in real money 700k vacancies is about the median if we track the data over the past 15 years or so – so although the decline has been consistent we have actually re-rated to a historic norm rather than a “jobs recession”.
It’s been mad busy and now it’s back to normal (or perhaps slightly slower than normal) – depending what day it is and how glass half full you feel as you look at the data…
A major change which has made it difficult for employers to recruit talent into their accounts function in 2025 has been the level of candidate caution and a decline in candidate appetite to explore change.
Many accountants / finance professionals have viewed a move with increased uncertainty.
“If I’m going to mover it has to be perfect – if not better the devil I know!”
There is a sense that a job hop currently carries more risk than in the 1-2 years post covid (where sentiment was extremely positive).
So, you are likely fishing in a smaller candidate pond – particularly when it comes to accessing the ‘passive job seeker market’.
If we look at our placements in the past 18 months – only 20% came from a response to advertising.
Almost 80% came from direct headhunting or referral from our network.
Jobs have to be taken to market if you want optimise your chances of finding and securing the very best talent. They need to be presented attractively, described fully and proactively sourced rather than slung on a hook in the hope a hungry passing fish will bite.
Interestingly the drivers for a move are also shifting – salary is still a major consideration (the average move across our placements last year was accompanied by a 10%+ payrise).
But current polling shows that job security, progression opportunity, strong benefits including pension and hybrid working are all more important in considering a move that when we ran the same poll in 2023 (when salary, bonuses and LTIPs were far and away the main consideration behind hybrid).
In short – the market feels quieter but is probably closer to ‘normal’…
To get good people you need to be proactively headhunting and the people sat in front of you at interview are likely to be very keen to know that the business is secure, there is ideally some flexible working / hybrid where possible and also that you see their role progressing.
If your current recruitment process is ‘post an advert and pick the best CVs that come in” you are building your finance team with one hand tied behind your back in this type of cautious market. Thanks as always for reading, have a great week
