Sydney Accounting and Finance Market Update – December 2024

Market Overview: Recovery Gains Momentum, But Strategic Planning Is Key

As 2024 concludes, Sydney’s accounting and finance market is building on recovery trends, even as challenges like skill shortages and cautious hiring persist. Businesses poised to adapt will be well-positioned to thrive in 2025.

The Australian Bureau of Statistics (ABS) reports inflation fell to 2.8% in the September quarter, well within the Reserve Bank of Australia’s (RBA) target of 2-3%. With interest rates steady at 4.1%, the outlook for next year is cautiously optimistic.

Key Market Trends in December 2024

1. Ongoing Talent Shortages

With unemployment at 4.1%, the war for talent continues. According to CPA Australia, 65% of finance employers struggle to fill roles, particularly in areas like compliance, financial reporting, and governance.

2. Hybrid Work Is the Norm

Hybrid work remains a dominant preference, with 49% of finance professionals favouring flexible arrangements, though 35% are now seeking more in-office collaboration to boost innovation and mentorship.

3. Upskilling Drives Retention

Companies investing in professional development, especially in digital finance and compliance training, report lower turnover rates and stronger team engagement.

4. Economic Optimism Grows

Projected GDP growth of 2.4% in 2025 signals opportunities for companies willing to invest in their workforce now, particularly as demand for finance expertise in transformation and technology continues to grow.

What Does This Mean for Senior Finance Professionals?

For Employers:

• Career progression and competitive salaries are critical to keeping top talent engaged.
• Equip your workforce with the skills needed for regulatory and technological shifts.
• Start planning now to align with anticipated 2025 opportunities.

Are your team going to stay? Check out our team planning document here - Team Plan 2025

For Job Seekers:

• Reach out to former colleagues, mentors, and industry contacts.
• Attend finance networking events. 
• Tailor your CV and LinkedIn profile to emphasise achievements, not just responsibilities.
• Highlight how you’ve driven business growth, improved processes, or managed transformations. Companies hire results, not just experience.
• Job hunting is a marathon, not a sprint—don’t let rejection define your worth.
• Celebrate small wins, like landing an interview or updating your resume.
• Confidence is key; employers want leaders who remain optimistic under pressure.

The Sydney finance market is tough right now, but persistence, focus, and a clear strategy will pay off. Your next opportunity might be closer than you think!

HPR Consulting: Your Partner in Navigating the Finance Market

With decades of experience in Sydney's finance sector, HPR Consulting is your go-to expert for recruitment insights and solutions. Whether you’re looking to hire or elevate your career, we’re here to help you succeed in 2025.

Reach out today to schedule a quick chat or explore how we can support you.