Well, it’s finally springtime, our tax returns are filed, or extended, and the hot job market seems to be getting hotter. It’s about time don’t you think. The job market started to cool in the summer of 2008, then went into an “ice age” for about two years, and now it’s starting to feel like the Market is Back. Not like the pre-dot com bust days, or the housing-bubble boom days, but the market seems to be returning to a normal “we need people now” mode. California’s unemployment picture is still pretty bleak, and there is still a large group of unemployed people in the Bay Area. But, in our market areas, finance and accounting and I.T. and engineering, the demand for talent is strong.
I mentioned in an earlier blog that we added I.T. and engineering placement as a new practice area in the first quarter of this year. This new practice is doing well. All of our new recruiters know how to get to the office now, and they know most of their colleagues names as well! They are even making placements! Both on the contract side and regular full-time. In fact, we need to add a sixth recruiter to the team as the volume of search assignments continues to increase.
Our finance and accounting placement practice has also seen an up-tick in demand. Many of our long-time clients have made it through the recession and are growing again. Plus, we have added a few dozen new clients already this year, ranging from pre-IPO to large-cap public companies. The demand for revenue accounting professionals and SEC reporting people has increased significantly since last year, and, a surprise to me, cost and inventory accounting positions have made a rebound as well. I thought cost accounting was pretty much dead in the Valley, but the green energy industry has helped bring these jobs back from the endangered species list. IPO’s seem to be making a comeback as well, as has an increase in VC funding. It’s a good time to be an accounting/finance professional!
It’s also a good time to be a Big 4 CPA looking to make a move from “reviewing” to “doing”. Big 4 CPA’s with three to ten years experience will be in big demand this year, especially for those with strong revenue accounting, technical accounting and SEC reporting expertise. My advice to those thinking about a move to “industry” is to not wait for your annual review. Just get in the market. You will make more money; get off the partner or die track; and have a better work/life balance in a corporate accounting/finance department than you would spending another six months to a year at a Big 4 firm. If you have decided (or the Firm has decided for you) that “making partner” is no longer your life goal, then take your technical expertise and work ethic to “industry” opportunities. Why put off moving up the corporate career ladder?
Once again, the job market is strong for finance/accounting and I.T. and engineering professionals. Lots of companies are hiring and there is still a shortage of strong candidates for these openings. I think it has to do with “the math” thing. You need to be good at math to make it in I.T. and engineering, and be good with arithmetic (adding and subtracting) to be good at accounting. Not many people in the USA are good at the math-thing. Kula needs to add, however. We need two additional finance and accounting recruiters and one new I.T. recruiter to meet our expected demand for the remainder of 2011. After all, even recruiters need a work/life balance! If you know anyone who would be a good add to our team, please let me know. If we hire anyone you refer to us, I treat you to a weekend in Vegas!
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