If you have arrived here, you will see that we have recently created a new website. This, combined with the blog will allow me a new and better medium to share information about the market in Audit and GRC, as well as Career Management and Hiring strategies.
2014 marks my 20th year recruiting in the Audit and GRC niche, and even more meaningful for me, January marked the five year anniversary of starting The Weinman Group! It has been a great journey, and I feel grateful for the relationships and friendships that have sustained me along the way.
For our first post, we take a quick look at current market conditions:
2014 Market Outlook (Part 1):
What has been a very healthy job market for Audit and GRC professionals for the past three years has reached yet another level of intensity in 2014. We are now in the most competitive market since the heyday of Sarbanes-Oxley. Some characteristics of current market conditions are:
- Increased number and variety of openings
- Mid-to-large size departments often down 3-4 (or more) open reqs at a time
- Public Accounting firms facing critical shortages of personnel
- Increased opportunities for Auditors to move out into the Business, IT or Operations
- Heightened competition for Audit and GRC skill sets from “sexy” start-up companies
- Increasing frequency of candidates receiving multiple offers
- Counter-offers, particularly in public accounting, have become common place
- Significant compensation escalation
Not a time for Complacency:
While this market represents a great opportunity to advance one’s career in a variety of ways, it is also not the time to relax or become causal about your career development. I am a firm believer that what you do during the good times will determine how you fare in the difficult times. Over the course of my career, I have witnessed professionals become sloppy and complacent with their careers during the dot.com and SOX booms, only to be punished harshly during the ensuing downturns. This is the time to double down on the investment in yourself and your career.
Over the course of the next few posts, I will address how to make the most of this period of time, including: when is the right time to transition out of Big 4; how this hot market presents opportunities to advance your marketability and position yourself for the future; as well as strategies and techniques for those trying to hire Audit and GRC professionals in this very competitive market.