Although jobs in the financial sector may be taking a hit, a very specific type of accountant is claimed to be very sought after.
According to Morgan McKinley’s UK 2019 Accounting and Finance salary guide, banks and investment firms are seeking to hire technical accountants with the highly regarded ACA qualification from the Institute of Chartered Accountants in England and Wales (ICAEW).
It seems that the uncertainty caused by Brexit means that businesses require accountants with more experience in budgeting and forecasting. This leaves more room for strong technical ACA accountants.
The uncertainty in Brexit is also causing investors to have less trust in the UK’s economy. Chief Executive Officer David Solomon claimed “Our headcount in the UK over the last couple of years has not gone down but it hasn’t gone up either – we have added head count you know on the continent” he went on to say “But I would say that, over time, if this is resolved in a difficult way or a hard way, it’ll have an impact on where we invest and where we put people.” This reluctancy to invest in Britain could have detrimental effects on our economy.
Quote from Nigel Holland:
“The implications on the UK’s economy after Brexit is uncertain. However, with top investors claiming that they may not put as much money into Britain it seems that those implications are negative. Technical ACA qualified accountants being sought after is not a surprise, at Holland & Co we have both fully qualified chartered ACA accountants and apprentices who look forward to becoming chartered ACA accountants in the future.”