Accounting Partners View On Employment Market

In terms of the employment market, I wanted to share what we have seen so far.

Overall, as a company, we saw a very difficult 2009, culminating with a low point in demand during the middle part of the year. This was followed by a slight pick up, at the very end of Q3 which didn't materialize into a significant recovery. Q4 has been fairly flat with some signs of improvement and with many employers still pushing off hiring into 2010.

While history has taught my firm that simply changing the numbers on a calendar from one year to the next doesn't translate into a recovery, there are many signs pointing towards a 2010 recovery.

Specifically, three items stand out: Job Losses -- In November, employers trimmed the fewest jobs since the beginning of the recession and the unemployment rate posted the bigget one-month decline in more than 3 years. In October the average work week increased to 33.2 hours versus 33 hours. While this doesn't sound like much, it is important because it is a sign that employers that cut the hours of their workers were starting to restore these hours. This is the biggest jump in 3 years. Temporary worker increase -- There was a monthly increase of 52,000 temporary workers, which is the biggest jump in 5 years. Employers will hire temporary workers back first before hiring full time employees. While 200,000 - 300,000 added monthly temporary workers are needed for a real improvement, we need to walk before we can run. According to the CEO of Adecco ( world’s largest staffing firm), these levels should be reached in Q2 2010.

Click here for a poll that shows what others are thinking about 2010. http://polls.linkedin.com/p/68967/ydftb

Salary Guide Accounting Silicon Valley

Real Time Salary Survey. We are in the process of compiling a salary survey . One of the ways that we thought we could be different was by taking several of our recent placements and providing compensation information. Our thought is that it would be invaluable to our clients and prospects as well as to candidates, to see real-time salary information rather than data that is sometimes a year or more old. Let me know your thoughts. See below for the last five placeement we completed in May in Silicon Valley.


Salary $180,000.00
Bonus 8-15%
Stock 70,000 shares
Size of Firm 50M
Job title Controller
Years of experience required 10-15 years

Salary $ 78,000.00
Bonus discretionary
Stock 2,500 shares
Size of Firm 1B
Job title IT Auditor
Years of experience required 2-4 years

Salary $ 150,000.00
Bonus 20%
Stock 90,000
Size of Firm 20M
Job title Corporate Controller
Years of experience required 8-10 years


Salary $ 90,000.00
Bonus 10%
Stock 2500
Size of Firm 900M
Job title Sr. Financial Analyst
Years of experience required 5-7 years

Salary $ 55,000.00
Bonus 5-7%
Stock 0
Size of Firm 25M
Job title Staff Accountant
Years of experience required 3-7 years