Contract rates rise for accountants across Insurance sector
UK, 23/07/2010 - Recruitment steady as firms look for hybrid skill sets- Financial planning, financial analysis, management information and Solvency II experience all in demand
Contract rates for most accounting professionals in the insurance sector rose in sector two, according to the latest update from recruitment specialists Robert Walters.
Professionals with financial planning, financial analysis, management information and Solvency II experience were in demand. Historically, firms used contractors to fill these project-type roles but they were increasingly looking to permanent hires during the quarter.
In the contract market, firms looked for a more hybrid skill set in quarter two – where previously they would have hired a financial accountant and a project specialist, they were recruiting professionals with experience in both areas. Contract back-office accounting hiring also rose, with more junior part-qualified candidates recruited to these positions.
Richard Caccioppolli of Robert Walters’ Insurance recruitment division, comments:
“Pay rates rose slightly in most cases during quarter two, which is typical as the insurance sector gets busier at this time of year. A qualified financial controller within the sector now commands £400 per day. An influx of newly-qualified accounting candidates from New Zealand, Australia and South Africa - following market recovery - has driven some rates down. These professionals would historically earn a rate of £28-30ph, but we saw this fall to £25-28 in quarter two. Newly-qualified accountants seeking permanent positions began to consider investment banks again as recruitment picked up in this sector.”
For more information please contact Andrew Smith or telephone +44 (0) 207 379 3333.