Despite an uncertain economic outlook, a stubborn skills shortage in the UK means demand for ACCA members and future members remains broadly elevated.
Hays even suggests the skills gap has widened. According to the recruiter’s 2025 UK salary and recruiting trends guide, 92% of employers struggled to access the skills they needed in 2024, an increase of four percentage points on 2023.
Finance employers are widely expected to hire new staff in 2025. The Hays data shows 69% will increase headcount, a significant uptick from 60% in 2024, while Robert Half puts the figure at 52%.
‘A person’s willingness to learn is more important than their existing skills’
Employers looking to plug specific skills gaps and seeking people with a willingness to learn will come to the fore in 2025, with more organisations focusing on potential and not just skills, says Lee Owen, director at Hays specialising in accounting and finance. ‘Our research illustrates that 75% of finance employers are confident a person’s willingness to learn is more important than their existing skills, and a further 77% would hire someone who does not have all the required skills, with the intention of upskilling.’
In demand
Hot hires in 2025 include financial controllers, finance directors and positions in FP&A, financial and data analysis, payroll, accounts receivable, regulatory and compliance, sustainability and ESG, and management accounting, as well as contract and interim roles.
Gareth Cowan, founder of accountancy recruitment specialist Trace Recruit, says technically minded accountants will be the winners in 2025. ‘People are less and less interested in doing roles that require a high degree of technical knowledge, so quite simply, there is a higher demand for that knowledge. If you enjoy financial reporting, consolidations, IFRS/GAAP, regulatory reporting and the more technical “control” side of finance, I think the demand for your skills will increase.’
‘Those who are commercially minded and can display the ability to communicate will always be in demand’
Plugging the gap
Attitude and soft skills, though, remain important. ‘Nothing can replace passion, enthusiasm and willingness to go the extra mile,’ Cowan says, ‘and the candidates with the brightest attitude towards work will always triumph over those that don’t show these attributes.
‘Relationship building and engagement are an essential part of an accountant’s toolkit these days and this will not change, so those who are commercially minded and can display the ability to communicate will always be in demand. Skilling yourself up in AI tools is going to be essential, as is finding ways to communicate complex financial messages simply. An ability to use Power BI, Anaplan, VBA and advanced modelling is essential.’
Indeed, while traditional skills will undoubtedly remain valuable, hiring managers are increasingly looking for professionals with holistic skillsets. ‘Individuals who have a combination of digital literacy and the ability to act as a true business partner will be in high demand,’ says Lorraine Twist, director at Hays specialising in accounting and finance.
As ever, soft skills are just as essential as technical and technological. Hays salary guide identifies the five core skills that are most in demand across the finance sector.
Hays research revealed that 35% of finance employers are recommending the use of artificial intelligence in the workplace, yet only 24% currently have access to the skills needed to tap AI’s potential.
‘Disappointingly, 90% of finance professionals haven’t received training or support from their employer when it comes to utilising AI tools in their role, whereas 78% say they are keen to develop these skills,’ says Twist.
Promisingly, Steve Sully, regional director at Robert Half, says: ‘67% of firms are encouraging their staff to explore generative AI tools, half are planning to introduce upskilling programmes, and 34% are creating mentorship programmes to boost their workforce’s expertise in this area.’
2025 may see a flattening of salary increases given the uncertain economic backdrop
With the introduction of new financial legislation in 2025, Sully also expects employers to seek compliance, regulatory and governance specialists to manage anticipated workload increases.
‘Professionals in technical areas including risk and financial analysis and cloud also remain valuable commodities for businesses across all finance markets,’ he says.
Salary movements
The past few years have seen some of the highest salary increases of recent times for part-qualified and newly qualified accountants, but 2025 may see a flattening, given the uncertain economic backdrop.
‘Newly qualified salaries have stabilised – the same is true for manager and senior manager roles – and, in some cases, they’ve gone too high, which can have an adverse effect on an individual’s ability to move roles,’ Cowan says. ‘FD and CFO salaries have seen a significant uptick, particularly for female leaders, and it’s great to see that levelling up is well and truly a thing.’
According to Hays, salaries increased by an average of 3.6% in 2024. Areas with above-average rises included part-qualified professionals (5.8%), accountancy support roles (5.3%) and accounts receivable professionals (5.1%).
‘87% of finance employers expect to raise salaries this year’
‘Part-qualified accountants received larger increases due to a strong demand, alongside a shortage of applicants, while higher demand for accountancy support professionals in SMEs certainly helped to improve salaries here,’ Owen says. ‘Over the past 12 months, 88% of finance employers increased salaries, and 87% expect to increase salaries over the coming year. That said, implications from the budget may reshape the topic.’
Sully expects salary negotiations to be constrained at the beginning of the year, though an improvement in economic conditions may see the trend reversed. ‘This could cause challenges for employers, with almost half of professionals expecting salary growth in 2025, and one in five set to quit their roles if they don’t receive one,’ he says.
According to Hays research, finance professionals consider flexible working (34%), additional annual leave (30%) and private medical cover (28%) as top benefits. Robert Half cites the emergence of relatively new benefits such as 13-month salaries, fuel and tuition allowances, and meal vouchers.
