Ever since the AI revolution started in earnest, there have been many milestones and more than a few scares.
With the increasing ability of AI to execute tasks with superhuman precision and even learn how to perform better, it’s no longer a question whether AI will take away some jobs. The bigger question is: whose jobs are on the line?
Analysts predict that modern technology will result in the loss of more than800 million jobs. Everyone, from doctors to accountants and even truck drivers, seems to have a target on their backs.
Will the same trends affect the market for finance jobs in Finland? How well is the market coping with the increasing rise of technology? What skills do you need to do well in this market?
Come along and we’ll answer all these questions with data we have drawn from the MeetFrank app. Here’s all you need to know about the trends for finance jobs in Finland over the first 6 months of 2019.
Technology and AI in finance jobs in Finland
The finance and accounting industry has always seemed a prime candidate for an AI takeover. It involves a lot of repetitive tasks that have to be performed with perfect or near perfect precision using large amounts of data.
Due to this, the industry has been a fertile ground for the introduction of advanced tech and AI. For instance,Robotic Process Automation has been implemented in the industry. It reduces audit and contract processing time from months to mere weeks.
But will these trends lead to a decrease in finance and accounting jobs around the world? Has it negatively impacted the market for finance jobs in Finland?
The experts say No. Rather than take away finance and accounting jobs, they predict instead that technologywill transform jobs in the industry. It will help accountants and finance professionals perform their jobs better, leading to higher productivity and greater efficiency. In fact, many arguethat is already the case today.
In Finland, for example, technology already enjoys a peaceful co-existence with finance. The country is a world leader inelectronic financial management. It has developed online services and software that enable “paperless, real-time e-bookkeeping and e-accounting”.
Far from clashing with opportunities for finance jobs in Finland, these solutions have helped the industry grow, introducing cost savings and flexible financial management.
MeetFrank data indicates that offers on the app for finance jobs in Finland grew by an astonishing 280% in the first 6 months of 2019. Instead of a market with dwindling job openings, there are more companies hiring on MeetFrank and better opportunities for talent to get the jobs they desire.
What skills do you need to succeed in this market?
This is pivotal, because the increasing prominence of technology in the industry will necessitate the acquisition of new and vital skills.
Currently, the top skill required by employers for finance jobs in Finland is accounting, a requirement in 21% of job offers. Bookkeeping follows in second with 19%, while financial management, financial consultation and financial planning make up the rest of the top 5.
It is noteworthy that three out of the top 5 skills require qualities that have much more to do with human capabilities than technological input. This reinforces the fact that while AI may take away repetitive jobs, it will free professionals to concentrate more on high-level tasks.
It however makes sense for talent to add some adeptness with accounting tech to their skillset. Forbes reports that labor intensive processes like payroll management, auditing and tax remittance will befully automated by 2020. Prudence dictates being ready for that future.
Hiring trends for finance jobs in Finland
According to MeetFrank data, the hiring trends for finance jobs in Finland indicated greater demand for candidates in mid-level and senior positions. They commanded far and away the most offers from employers in the first 6 months of 2019.
Offers for lead and junior positions were quite a way off, with offers for entry finance positions bringing up the rear.
The hiring trends indicate a greater demand for better skilled and more experienced candidates during the period. This emphasises the need for talent to obtain vital skills and experience before entering the market.
The top 10 companies that led in hiring for finance jobs in Finland during the period include Azets Insight Oy, one of the biggest accounting services companies in Finland, and Efima Oy.
Others in the top 10 are Kuori Oy, Leinolift Oy, Singa, Nightingale Health Ltd., Digia Oyj, ParkMan, Loiston and Tilitoimisto Lemon Tree Oy.
How well do finance jobs in Finland pay?
Our figures for average salaries in Finland indicated that the minimum average pay earned in the first 6 months of 2019 was €2,450. The overall maximum average earned during the period was €4,105 and the highest salary offer received was €7,000.
On salaries per seniority, employees in lead finance positions were highest paid with average monthly salaries of €4,400. Seniors earned an average of €4,230 while entry level employees earned €3,333 on average.
The average salaries for entry level employees were similar to the monthly averages per month for the period. January started out at €3,275 and salaries peaked at €3,563 in May.
Interested in earning much higher than this? We found just the perfect combination of skill you need to earn more than €4,000 every month. According to MeetFrank data, competence in accounting, financial management and financial planning will set you up for the payday you desire.
Work preferences for talent in Finland
Where do our Finnish users want to work? Mostly for Startups, Fintech and The Next Big Thing.
MeetFrank is an app that makes job hunting and recruitment easy. It provides a handy resource for the latest trends and information on employment in every sector you can think of.
From finance, to software development and designing, you can find all the info on the jobs that are close to your heart here.Download our app for Apple and Android to get started.
MeetFrank also helps companies overhaul and streamline their recruitment process. Have some specific type of candidate in mind? You don’t have to entertain hundreds of applications just find the right one.
With MeetFrank, companies can connect effortlessly with talent that ticks all the right boxes. Get in touch with us andschedule a demo call to see how the app works.
There’s a reason why accounting and finance experts are some of the most valuable employees in businesses around the world.
Apart from the fact that, half the time, no one really understands what they’re doing apart from other accountants (ever tried reading through an accountant’s files? Candid advice: don’t), they’re the superheroes every business’ books need.
One expert describes them as carrying out the absolutely crucial function of providing “the conditions of trust in a modern market economy”. They occupy massive roles indeed, and the same is true for finance jobs in Estonia.
Companies also recognise the role that accounting and finance experts play in giving their business legitimacy.
Have you wondered how this interest plays out? Or are you interested in how the hiring activities of companies has shaped the market for finance jobs in Estonia in 2019?
You don’t have to wonder for much longer, as drawing on data from the MeetFrank app, we’ll show you the latest trends to keep in mind.
What’s business like in the Estonian accounting and finance sector?
The market for finance jobs in Estonia constitutes a part of the larger Services sector, which is quite large indeed. The sector employs around 60% of Estonia’s 1.3 million population.
The global accounting services industry is much larger, employing more than 6 million people. About 1.2 million of that number are employed in the US, making it one of the largest markets for accountants in the world.
The global industry enjoyed total revenue of $507 billion in 2018. This represents an annual growth rate of 3.5% between 2013-2018 and the industry is projected to grow even further between 2018 and 2023.
Accounting and IT enjoy a very peaceful and mutually beneficial existence in Estonia. This is unlike many other countries where there is a real concern that IT will soon encroach materially into the job description of accountants.
Due to the fact that Estonia has incorporated IT into the very fabric of its society since the 90’s, every industry has evolved along with the country’s IT capabilities.
According to MeetFrank data, yes there are. We tracked the offers made for finance jobs in Estonia over the first six months of 2019, on our app. And we found that offers for these jobs grew by 146% compared to the period between July to December 2018.
Massive growth indeed. The figures signal the increased hiring activity of companies on the MeetFrank platform. They also show the higher opportunities for talent to secure the jobs they want.
We also mined our data to find out what companies are leading the charge in this hiring spurt. The top 10 companies currently hiring for finance jobs in Estonia this year include Eesti Energia, Estonia’s largest energy producer, SEB and Inbank.
Others in the top 10 are Grant Thornton Baltic, Alliance for Recruitment, Dynodesk, Monese, Mobinner, NoCry and COBALT Legal Eesti.
Where do the interests of these companies lie? MeetFrank data indicates that the highest hiring demand in the first 6 months of 2019 was for mid-level and senior finance positions.
The demand was reasonably fair for junior and lead positions while there was much less demand for entry roles.
The data indicates that the focus of companies for the first half of the year was on better experienced and higher skilled finance positions.
What’s the average pay for finance jobs in Estonia?
Finance jobs in Estonia pay reasonably well. The overall average minimum salary offered in the first 6 months of 2019 was €1,413 while the average maximum was €2,242 per month.
The overall highest salary offered during the period was €5,500. Not a bad sum to take home for a month’s work.
January saw the highest monthly average for salaries in finance jobs. It started the year on a bright note with an average of €1,810. The lowest figures were registered in February posting an average of €1,225.
The decline may be explained by the usual reduction in recruitment activities during the summer. Things rebounded nicely in May though, as the monthly average surged back to €1,950 and peaking at €2,150 in July.
Based on the figures for the first half of the year, candidates for entry finance positions can expect to start with €1,560 per month or thereabouts. Juniors earned €1,888 on average during the period while senior and lead executives earned highest, commanding €2,573 and €2,770 per month, respectively.
Top skills for success in the Estonian accounting and finance sector
The Estonian accounting and finance sector adds an interesting element to the traditional skillset that would ordinarily be required for finance positions: IT. While AI and smart accounting software are becoming important for businesses around the world, this is doubly so in Estonia.
Our data indicates that out of 12 tracked skills, employers for finance jobs in Estonia were most interested in talent with strong accounting skills. Book keeping skills were next preferred in 14% of offers.
Financial planning, financial auditing and financial consultation skills rounded off the top five with almost similar demand of 11%, 10% and 10% respectively.
To get a chance at earning salaries over €2,500, you would need a combination of competencies in compliance & regulation, financial auditing and financial planning.
It would be wise for you to add some accounting software skills to your portfolio as well.
According to the Sage Practice of Now 2019 report, 90% of accountants now feel there is a cultural shift that favours a leaning towards technological adoption in accountancy. They feel traditional accounting skills may no longer be enough to remain competitive.
49% of accounting firms have now reviewed their business practices and 58% of firms have had to invest in accounting software to satisfy client expectations. This is one trend that only looks to increase in the foreseeable future.
Where do you want to work?
At MeetFrank, our data is never complete until it takes the feelings and perspectives of talent into consideration as well. We asked our users in Estonia where they want to work and their preferences are to work in Fintech, startups and from remote locations.
There are several companies that perfectly fit the bill. They include Monese, Mobinner, Inbank, NoCry and Grant Thornton. Others are Adcash, COMODULE and Playtech.
MeetFrank makes the job market more open and transparent. You can find all the data you want on finance jobs in Estonia and all other jobs you’re interested in on our app. Download it on the Apple or Android stores to find all you need today.
We also help companies streamline their recruitment process, making it straightforward and cost-effective. Schedule a demo call with us to see how the app works.
The accounting and finance profession, like many other professional occupations, is very reliant on skill. More than this, professionals rise or fall by the currency of their skills and how well they are able to stay with trends.
For instance, 85% of accountants believe that gaining an edge internationally depends on keeping up with the pace of technological adoption. Another 83% of accountants say that understanding tech is just as vital to their roles, as understanding accountancy.
Considering this, it makes sense that you are interested in learning what skills set candidates apart for success in the market for finance jobs in Lithuania.
Should your focus be on brushing up your bookkeeping skills? Or are you better off going deeper in financial consulting and management?
In this article, we’ll unravel the trends behind finance jobs in Lithuania and what skills you need to add to your portfolio in 2019.
Top 5 in-demand skills for finance jobs in Lithuania
From our data on offers for finance jobs in Lithuania in the first 6 months of 2019, the most in-demand skill for the period was accounting, being required in 15% of offers.
Financial management, financial consultation, financial planning and other skills made up the rest of the top five. They were required in 12%, 12%, 10% and 9% of offers respectively.
Importantly, it must be noted that technology has found a place in the accounting and finance industry. According to the Journal of Accountancy, 79% of business owners now say that accounting AI is the key to increasing their company’s productivity.
80% of executives believe this tech will give them a business edge and due to this, 49% of accounting firms will be reviewing their business practices in line with tech.
To make the best of the industry, it makes sense to add good competencies in accounting tech to one’s skillset. Despite this, McKinsey reports that most accounting professionals do not have the skills to operate accounting and automation tools.
Candidates that are truly interested in making the most of the industry will ensure that they have the necessary AI and tech skills locked down.
Hiring trends and preferences for companies
MeetFrank data indicates that offers for finance jobs in Lithuania increased by 67% in 2019. This was an appreciable increase over the first 6 months of 2019, compared to the last 6 months of 2018.
All stats point to the fact that the MeetFrank platform is growing and more companies are now hiring through the platform. It becomes easier by the day for talent to find the companies they want, and for companies to find the right candidates.
Our data on hiring trends showed that companies were most interested in filling mid-level finance positions. The most offers were made to candidates in these positions, followed by candidates in junior finance positions.
Offers for seniors followed, with offers for executive positions bringing up the rear. What the data indicates is that the market for finance jobs in Lithuania is very balanced.
There is no real distinction between the demand for entry level employees and more experienced roles. It looks to be a good market to start out a career.
Salary averages for finance jobs in Lithuania
Our data on average salaries for finance jobs in Lithuania is based on overall average during the period, averages per month and average per seniority.
On overall average, MeetFrank data indicates that the average minimum salary recorded during the first 6 months of 2019 was €995, while the average maximum was €1,996. The highest pay recorded to a candidate during the period was €5,290. Not a bad payday overall.
Monthly salaries started out in January at an average of €1,800 but they dropped to €1,541 in February. The lowest average was recorded in May with an average of €900 while incidentally, the second highest was recorded in the next month, June, with an average of 1,750.
Per seniority, employees in entry level positions started out at €1,353, way above the national average. Juniors earned €1,578 on average while mid-level employees earned €1,950.
Executives were once again the highest paid, earning €2,975, with employees in lead finance positions following close behind with an average salary of €2,813.
To earn as much as this, what skills do you need to focus on? Well, according to our data, you need to have a combination of accounting, financial consultation and compliance & regulation skills to earn that much.
Where do users in Lithuania want to work?
Our MeetFrank users in Lithuania want to work for the hippest companies including Startups, those that have the Coolest Offices and those that offer Remote work.
Companies that fit this description perfectly and that are also currently hiring for finance jobs in Lithuania include Baltic Amadeus, ORCA Alliance, Kilo.Health and CoinGate.
There are several companies already at the forefront of hiring for finance jobs in Lithuania. We compiled the top 10 from our data on offers for these jobs.
They include UAB PricewaterhouseCoopers, Intrum Global Business Services and CoinGate.
PricewaterhouseCoopers is one of the largest accounting firms in the world. It is considered one of the “Big Four” accounting firms, and is regarded as possibly the second largest of the four.
Others in the top 10 are International Fintech UAB, Avia Solutions Group (CY) Plc, Credital, Finolita Unio, Kilo.Health, METAWOOD, and Cognizant Technology Solutions Lithuania.
To see more about these companies, the terms they offer and their hiring activities, download the MeetFrank app for Android and Apple here.
Try out MeetFrank today
MeetFrank is an app that is made for both talent and recruiters. We provide all the information that allows talent make informed decisions about offers in the job market, making job hunting stress-free and even fun.
If there’s anything you want to know about your preferred workplace, you can find it all here on MeetFrank. Download the app for Android and Apple to get started today.
Our app also provides a recruitment solution that caters to the recruitment needs of companies. Through MeetFrank, companies can conduct their recruitment in a swift, simple and cost-efficient process. We are trusted by some of the biggest companies in the world. We’d love to help your business too. Schedule a call with us to see how MeetFrank works.
