Exclusive Insights: Atlanta's Accounting & Finance Job Market in 2023

As we near the end of 2023, let's take a focused look at the current trends in both the national and the Atlanta accounting and finance job market, offering you tailored insights and exciting opportunities.

National Market Recap:

• Hybrid Work Preference: A significant trend in the job market is the preference for hybrid roles. A striking 63% of finance and accounting professionals now favor hybrid positions, reflecting a shift in work-life balance priorities.

• Salary Trends: Competitive salaries are more crucial than ever. With the growing demand for skilled professionals, offering higher salaries is a key strategy for attracting and retaining top talent in the finance and accounting sectors. The focus is not just on the base salary but also on comprehensive benefits packages that include health benefits, retirement plans, and performance incentives.

• Hiring Challenges: Despite optimism in the job market, 95% of hiring managers in finance and accounting face challenges in recruiting, underscoring the need for strategic hiring approaches.

• Finding Skilled Talent: A major challenge is locating skilled talent available for hire. With the vast majority of hiring managers facing this issue, there's a clear gap between the demand for qualified professionals and the available talent pool.

• Retention and Attraction: Both public and private company hiring managers report significant challenges in retaining (68.9%) and attracting (73.7%) finance and accounting talent. This indicates a competitive market where professionals have multiple opportunities to consider.

• Adapting to Technological Advancements: The surge in technological advancements, particularly in AI and automation, requires candidates with new skill sets. This shift is redefining the landscape of accounting recruitment.

• Employee Retention: Over 80% of finance and accounting company hiring managers agree that employee retention is a major challenge, indicating the need for better engagement and career development strategies.

• Contract Professional Hiring: There's an increasing trend of hiring contract professionals in finance and accounting, with many managers planning to hire more contract workers. This reflects a shift towards more flexible staffing solutions.

Atlanta Market Snapshot:

• Hybrid Work Preference: We're seeing similar trends locally in Atlanta, with a growing demand for flexible work arrangements and a competitive landscape for hiring top talent. The demand for hybrid roles has significantly increased. A study shows that most finance and accounting professionals now prefer hybrid positions, reflecting a shift towards more flexible work arrangements. This trend is indicative of a broader shift in employee priorities, where work-life balance is becoming as important as salary and job security.

• Salary Trends: In line with national trends, Atlanta's finance professionals are seeing competitive salary offers, with a noticeable uptick in benefits packages that include comprehensive health plans and performance incentives. Salaries in Atlanta have been increasing more rapidly than the national average, with wages growing by 2.2% last year.

• Hiring Challenges: The challenges in hiring for finance and accounting on a national level and in Atlanta specifically share similarities but also have unique aspects:

• Talent Shortage: Nationally, there is a significant difficulty in finding suitable finance and accounting candidates. This challenge is mirrored in Atlanta, given its status as a major business hub, which intensifies competition for skilled professionals.

• Increased Use of Contract Professionals: Nationally, there's a trend towards hiring more contract professionals in accounting and finance. Atlanta, with its dynamic business environment, is also experiencing this trend, as companies seek flexible staffing solutions to adapt to market changes.

• Growth in Employment: The projected growth in employment for accountants and auditors is about 4% from 2022 to 2032. Atlanta, being a significant economic center, contributes to and reflects this growth, with a steady demand for finance and accounting professionals.

• Finding Qualified Talent: A common challenge is finding qualified talent, which is a significant issue in 2023. Atlanta, with its large pool of businesses, faces this challenge more acutely, especially in specialized roles within finance and accounting.

• Overall Hiring Challenges: Nationally, and overwhelming number of hiring managers report challenges in finding and hiring skilled talent. Atlanta's competitive business environment, coupled with its growing economy, exacerbates these challenges, making the hiring landscape in Atlanta particularly competitive.

• The Great Resignation: Following the national wave of the Great Resignation, Atlanta's job market has seen a surge in job openings, particularly in senior-level positions.

These trends reflect a dynamic shift in the accounting and finance sectors, where companies are adapting to new employee expectations and market demands to attract and retain the best talent. The hiring challenges underscore the need for strategic hiring approaches, including enhancing employer branding, offering competitive compensation, and investing in training and development to attract and retain top talent.  

While Atlanta faces similar challenges to the national trends in hiring for finance and accounting, its status as a major economic hub amplifies issues like talent shortage and competition for qualified professionals.

Do you have an opening or project coming up where we can assist? Email shanamarr@myidealrecruiter.com to set up a time to discuss how we can help.

Below is a list of our current ASAP openings. If any of these opportunities are calling your name, or if you know someone perfect for one of these roles, just email our recruiter at shanamarr@myidealrecruiter.com. And don't forget - we offer referral fees!

My Ideal Recruiter - Hot Job Opportunities:

• Senior Accountant (Direct Hire, Sandy Springs - Hybrid)

• Senior Accountant (Temp to Hire, Alpharetta - Hybrid)

• Senior Financial Analyst (Direct Hire, Sandy Springs - Hybrid)

• Controller (Temp to Hire, Remote)

• AP Professional (Temp, Smyrna - In Person)

• Entry Level Project Specialist (Direct Hire, Smyrna - In Person)

Looking forward to helping you navigate these exciting times.