New York Staffing Guide: Accounting & Finance
For much of the world, finance begins and ends in New York. For that reason, you may have too many highly qualified candidates banging down your door for an opportunity at your firm. Or, the opposite is true, too: you may not attract the right type of talent for your role because any applicants are aiming for the big finance or accounting companies. To navigate that, an accounting/finance staffing agency or recruiting firm in New York can tap into their pipeline for the best talent. They will also help you minimize hiring risks, while maximizing the returns you get from top-notch finance minds. If you feel that you are not qualified to evaluate finance professionals or just need extra, short-term help during a busy season, then consider contracting with an NYC finance staffing agency.
Business Climate In NYC For Finance & Accounting
Finance in New York City begins with Wall Street, of course.
New York City is home to a long list of large corporations, many of them the top financial service companies in the world. Among the most lucrative financial corporations in New York City are J.P. Morgan Chase, Citigroup, Goldman Sachs, American Express, and Morgan Stanley. That is not even considering the number of investors, hedge funds, private equity, and smaller (but sizable!) investment banks in New York City.
Two of the largest employers in New York--J.P. Morgan Chase and Citigroup--are both financial firms employing hundreds of thousands of people. The closely aligned insurance companies also are huge employers. Those include MetLife, AIG, and New York Life.
The finance industry also provides a significant portion of New York City resident’s earnings, up to 30 percent according to a CUNY study.
The finance workers also earn huge salaries compared to the population at large. The average salary (including bonuses) was $388,000 in 2015 and the average bonus was $146,200.
The growth of this industry could be slowing, as the economy slows, and not as many mergers/acquisitions or IPOs (initial public offerings) are made.
There is lots of talent, but also that finance talent could be expensive. Expect to pay top dollar for the best talent, or find less experienced accountants and finance professionals. A finance recruiter or accounting staffing agency can help you sort through and match the right talent with your business needs.
How To Choose A Finance & Accounting Staffing Agency In New York City
It takes time to filter through resume and LinkedIn profiles. You may get bombarded with candidates actively searching for finance and accounting careers. To help, consider partnering with finance recruiters and account staffing agencies. They will dig into their talent pipeline and connect you with well-qualified candidates who could help as permanent, part-time, or contract-to-hire employees.
An accounting and finance staffing agency in New York City will help you:
Discover candidates with financial experience for accounting, finance, and long-term financial planning
Conduct executive searches, executive recruiting, and interviews
Screen a candidate’s experience and skills
Manage salary and benefits
Employment staffing agencies can provide full-time, permanent, or contract positions on an as-needed basis, which will work if you have seasonal accounting needs.
Key Points When Using An Accounting & Finance Staffing Agency
Consider these points when you are researching with finance staffing agencies to understand how their business operates, and their hiring processes.
Ask about their talent pool and how they staff for candidates
Skill evaluation process and how they use pre-employment assessments
The number of locations near your office
Remote work and work from home options for their employees, especially after the coronavirus
Conclusion: Accounting & Finance Staffing Agencies Can Help You
Thoroughly research any staffing or recruiting agency that you are interested in. Ask about past clients and seek references, especially since New York City will have several agencies to choose from. When you partner with an accounting and finance staffing agency, they may be able to help with your other employment needs as well.
With a large mix of staffing agencies in the New York area, the number of options could be crushing. Use Best Staffing Agencies as the site to help you make a good choice.