Regional hot spots across the UK are attracting more job seekers than ever as the fallout from the recession and ever-increasing property prices in London encourage professionals to look further afield when it comes to career opportunities. The job market in Bristol and the South West region of England in particular has come out on top as one of the healthiest in the country, with salaries reflecting that the harm inflicted by the recession of 2008 is finally easing away.
The city’s reliance on professional and financial services firms during the recession saw severe job cuts, however now Bristol is leading the way with a healthy supply of internal audit job opportunities on the market and a generous appetite for acquisition from firms in the city and across the South West. Candidates applying for internal audit jobs in Bristol and the South West, from newly qualified and junior roles to senior management positions, are finding themselves in high demand due to the ongoing skills shortage in this area and need for individuals within the financial services sector.
Cost-cutting and efficiency, while a valuable strategy, has been relegated in the priority agenda for the majority of businesses who are placing greater emphasis on the systems they have in place and the people operating them. Investing in their second and third lines of defence by building strong internal audit teams, companies are recognising the imperative need to curate their workforce in line with ever-evolving business needs and in order to maximise growth opportunities.
With the graduate job market more buoyant than ever post-recession, newly-qualified accountants, toting ACA, CIMA and ACCA qualifications, are highly sought after for junior roles, with salaries for internal audit jobs in Bristol and the South West ranging between £45,000-£55,000. Businesses are certainly benefiting from this new wave of skilled professionals motivated to find employment due to the higher university fees indebting graduates, who are more inclined to search for job opportunities in cities including Bristol and its regional peers.
Opportunities for internal auditors in Bristol have largely been impacted by the increasing trend for both businesses and individuals to move away from the Capital in search of respectively cost-efficient work premises and better work-life balance. Salaries as a result have been driven up by an average of 5% as skilled candidates entertain multiple offers and the power of negotiation lies firmly in their hands. While the junior internal auditor roles average a £50,000 base, those looking to move into more senior internal audit positions can expect to earn between £75,000-£150,000.
Companies are looking for individuals with in-depth knowledge of governance, risk and controls for internal audit jobs in Bristol, as well as excellent report writing and strong communication skills in order to interact with key stakeholders. Strong analytical skills are also a desirable trait, as is having a commercial focus in the current market as hiring managers look for individuals who are forward thinking and driven in terms of looking at ways to help companies mitigate potential risk.