Australia’s finance hiring market at a crossroads

Australia’s accounting and finance sector is facing fierce talent competition. Skills shortages, rising salaries, and demands for flexibility are shaking up the market. Eliza Kirkby, managing director of corporate and professional recruitment in ANZ at Hays, says the market is evolving fast, and pay alone no longer guarantees employee satisfaction.

The numbers behind the talent squeeze

The newly released Hays Salary Guide FY25/26 highlights key employer and job seeker trends. Drawing on responses from over 12,000 professionals and hiring managers across Australia and New Zealand, it gives a detailed snapshot of the current market. 

AI tools have driven up job applications, yet suitability has fallen. Kirkby says, “The rise of AI-generated CVs is making job searches more challenging by increasing competition but reducing role fit.” Job mobility is high, with 61% of professionals open to moving in the next year. For candidates, this means increased opportunity but also fiercer competition for top jobs.

What employees want and get

Flexibility remains the most valued benefit (58%) in a post-COVID world. This is followed by additional annual leave (45%) and health insurance or private medical cover (18%). For today’s professionals, flexibility is no longer seen as a perk but as a baseline requirement.

Kirkby says, “Many employers continue to offer perks that don’t align with employee expectations.” Fewer than a quarter of employees (21%) receive extra annual leave, despite nearly half valuing it. Employers still focus on legacy perks, like mobile phones, that few employees care about (18% receive vs. 5% value). While a third of employees (33%) value career development, employers rate development higher at 41%. Location also plays a key role in career decisions, with 25% citing it as a deciding factor in taking a job. 

The skills that lift your salary bracket

Skills shortages remain widespread, affecting 84% of employers. This is due to gaps in ‘human skills’ such as communication, teamwork, and adaptability, rather than technical expertise. Candidates who have these skills alongside technical expertise are viewed as the most competitive hires. Kirkby says, “With soft skills being important in value add for finance positions, organisations are looking for accountants who can engage with the broader business in a non-financial way.” She maintains that CA and CPA qualifications remain highly regarded in hiring processes. 

Accounting and Finance salaries 

Salary dissatisfaction remains high, with 60% of professionals feeling underpaid, including those earning over $250k. 

Kirkby explains, “Satisfaction levels vary widely across different salary bands, indicating that pay alone does not guarantee contentment. Small pay rises, especially under 2.5%, are often seen as meaningless, and increases of 10 to 20% don’t always shift perceptions.

In Accounting and Finance, Kirkby notes, “Salary gaps persist between public practice and industry roles, pushing boutique firms to focus on standout benefits and career development to attract and retain talent.

Why technical roles command higher pay

Accountants and practice managers typically earn significantly more than administrative staff, highlighting the premium placed on technical expertise and client-facing responsibilities. While administrative roles are essential to operations, they tend to attract lower salary bands, even in high-demand regions. 

Location matters: How it can boost, or limit, your salary

Sydney continues to dominate the salary landscape. Professionals working in major metropolitan hubs tend to command higher salaries than their regional counterparts.For example, senior Sydney tax professionals earn AU$85,000 to AU$115,000 depending on experience. The disparity between metropolitan and regional areas is stark: regional NSW salaries lag by up to AU$30,000, a trend mirrored across other states. This disparity reflects the cost of living differences and the concentration of larger firms and more complex client portfolios in cities. 

New Zealand comparison

Meanwhile, New Zealand  trails Australia, with Auckland’s senior professionals earning less than their Australian peers. Interestingly, under-24s earn more than Australians in the same bracket, earning on average $10k more. In Sydney, financial controllers in companies with turnover over $100m typically earn AU$200,000, while Auckland’s equivalent tops out at NZ$160,000. Team Assistants in Sydney command AU$75,000, compared to NZ$48,000 in Auckland.

Economic outlook & hiring confidence

Ongoing cost-of-living pressures are shaping both expectations and career moves. Despite economic 

challenges, demand remains strong for accounting & finance professionals, especially in roles like finance managers, auditors, and analysts. According to the report, accounting and finance professionals are among the most optimistic about the economy in which they work. “Accountants and auditors are often securing roles with fewer applications than other professions,” says Kirkby. 

Candidate advice

More finance professionals report needing to apply for more roles to secure a position. Candidates need to stay competitive and show technical and soft skills. Kirkby says job seekers should strengthen soft skills, highlight them in CVs and interviews, and tailor applications to each role, emphasising achievements and cultural fit. “Continuing professional development, especially in data skills, and being able to clearly demonstrate commercial impact is essential.”

She also suggests upskilling in digital and analytical tools like financial modelling, data analytics, and automation, and showing a continuous learning mindset. Kirkby adds, “Changing jobs remains the most effective way to boost earnings, with one in four movers securing raises of over 20%.” 

Final insights for finance professionals

Australia’s accounting and finance sector is in flux. Skills shortages, high job mobility, and flexibility as a non-negotiable are reshaping careers. To stay ahead, the most successful professionals upskill, prove their commercial value and harness mobility to gain an edge. With 61% of professionals planning to change roles in the next 12 months, it underscores a competitive and dynamic market.

Kirkby says, “Many remain open to changing jobs, largely driven by salary expectations and career progression - highlighting the competitive hiring market currently playing out across Australia.”

Thinking about your next move? 

The Hays Salary Guide contains the latest salary benchmarks, skills insights, and hiring trends for finance professionals in Australia and New Zealand. Download your free salary guide here: https://www.hays.com.au/salary-guide