Job markets, opportunities and salaries vary from location to location. Tina Alexander, Senior Regional Director of Hays Accountancy & Finance, examines the job market in Brisbane, Australia.
Brisbane's history is full and vibrant, and so too is its current accountancy market. While traditionally the majority of the job opportunities were in the CBD, today there are plenty of opportunities in the Northside and Southside across the board. Yet with property prices more affordable outside the city and candidates increasingly after a better work/life balance, there is greater competition for these roles.
Within the CBD, the major industry movements have been in construction and property, mining and resources and professional services.
Full-time positions
The key job opportunities are for business analyst and management accounting roles, as businesses focus on their bottom line. For this reason, employers are primarily seeking candidates with strong commercial skills. Advanced Microsoft Excel and strong IT literacy are also making candidates more competitive.
Long-term, financial accountant roles will continue to be in demand due to the introduction of International Accounting Standards. There is however a huge shortage of CPA-qualified candidates at the $50,000 to $55,000 level with two to three years post-qualification experience. Candidates from overseas, who traditionally would not have been considered without Australian experience, are helping to fill this gap.
With strong economic growth in Brisbane, many organisations are focusing on bringing systems and procedures up-to-date, identifying areas of risk, evaluating their business standing and where they want to go. This focus has created a need for senior-level candidates with change management and business process re-engineering experience, particularly on the contract side.
Contracts
Contracts are more readily available compared to this time last year and there has been an increase in employers requesting contractors with a view to employing them on a permanent basis at a later time. There has also been a steady increase in the amount of project work available, with employers keen to take on contractors to fulfil immediate needs. These positions require highly experienced candidates with strong industry skills supported by qualifications.
Remuneration
Looking at salaries, a gap between employer and candidate salary expectations has emerged. Candidate expectations have risen over the last six to 12 months, driven by candidates returning from overseas or relocating from interstate where salaries are traditionally higher. However most employer expectations have remained unchanged, although growth in the Brisbane economy has created slight increases across the board.
Employers are offering larger benefit packages, which commonly include bonuses related to key performance indicators, flexible hours to accommodate child care and extra superannuation payments.
In Brisbane, Hays Accountancy & Finance have had several recent successes in sourcing senior roles for CPA accountants. The demand for skill sets does vary depending on the company. Generally, roles in the CBD require specific industry experience related to the organisation while outside the CBD employers are more flexible and are more interested in the candidate's diversity of post-qualification experience.
Salaries vary, but generally candidates with up to three years post-qualification experience would command a salary of $55,000 to $60,000 plus super. With five to 10 years post-qualification experience salaries move forward to $80,000 and beyond, depending on the specific role requirements.
With improved infrastructure, business growth and a confident market, financial executive and accounting support opportunities will continue to develop in Brisbane. With the economy growing and business confidence high, there will be many opportunities in the market.
