April 2024 Phoenix Accounting & Finance Job Market Report
Welcome to the Greater Phoenix Accounting and Finance Job Market Report for April 2024. In this report, we’ll provide insights into the current state of the local job market, shedding light on hiring trends and the experiences of both job seekers and employers. Whether you’re actively looking for a job, curious about the market, or involved in hiring, this report will provide valuable information.
Overall Greater Phoenix Job Market
2 Unexpected changes include:
- CFO/Director of Finance roles saw a 50% year-over-year decline in job postings.
- Companies are getting creative with job titles like “Accounting Manager” and “Assistant Controller” for senior accountant roles without direct reports to attract candidates looking for career progression titles.
By the Numbers
- The unemployment rate for degreed professionals was just 2.1% in March 2024, indicating an exceptionally tight labor market.
- The following chart shows the unemployment rate for degreed individuals going back to 2000.
Compensation Trends:
- Regarding compensation, ADP reports for March 2024 show a 5.1% increase in annual pay for employees who stayed with their current company. This amount was flat after a steady decline in recent months.
- People who changed jobs saw a 10% increase in year-over-year pay.
Local Compensation Trends:
- There are some exceptions, but Phoenix companies have done a good job bringing salaries up to market over the last year.
- However, we are not seeing a 10% increase in pay for those who change jobs.
- We have a few companies in the Valley paying VERY high salaries, but the higher salary is aligned with having a more ‘interesting’ environment and more overtime.
Unique job postings in the Greater Phoenix Area over the last 30 days:
The Conference Board−Lightcast Help Wanted OnLine® (HWOL) Index rose
Conclusion
“The Phoenix accounting and finance market remains incredibly competitive,” said Bernadette Grattan of The Resource Link. “Companies need to do more than post their positions online. They need to give someone a reason to respond. If you need advice, our blog post Writing a Job Posting: What You Need to Know to attract the right Accounting or Finance Candidate is a great resource for you.”
If you have any questions or are facing hiring challenges, please don’t hesitate to reach out.
While you are here, check out the positions we are recruiting for on our Jobs page.
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About The Resource Link
For almost two decades, The Resource Link has strategically placed Accounting, Finance, & Human Resource talent with some of the best companies in Arizona! We consult with our hiring managers and candidates to dive into the best solutions and outcomes and we provide advice and feedback along the way. Don’t hesitate to reach out to us with any questions or just pick up the phone! We would love to hear from you to help you build the best team or find the best career.
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