Career path planning is nothing new in the finance and accounting world. This is where term contracts and professional designation funding are the norm, providing a clear picture of the road ahead. Companies looking to net strong candidates can expect to field questions about their professional development offering.
Ever-present factors in finance and accounting are mergers and acquisitions. “I’ve seen it happen frequently, says Epp. ”Companies are bought by larger companies and find their finance and accounting departments eliminated. Despite the USA’s recent trend towards economic protectionism and globalism, we haven’t seen a great slow-down in cross-border buyouts — so the threat of elimination is something that accountants and finance professionals continue to deal with.
While it’s understandable that parent companies would want central control over monetary functions, it’s disappointing when individuals lose jobs as a result.”
Despite this, rewards are still strong in the industry. According to the 2019 Hays Canada Salary Guide, 28% of finance and accounting professionals expected salary increases of more than 3%, while only 24% of the general workforce had such expectations. [1] Among the factors contributing to this optimistic expectation are a strong economy, a shortage of skilled finance professionals and a shifting of roles within the department.
1 “Accounting, Finance Employers Will Lead Salary Increases in 2019.” Canadian Accountant – Accounting News, Business & Finance. Accessed December 11, 2019. http://www.canadian-accountant.com/content/business/accounting-finance-employers-will-lead-salary-increases-in-2019.
Read more about our insider’s look at projected trends in the 2020 Labour Market:
