For 2008/2009 recruitment will be down by 19 p.c., and average staff pay will rise in line with inflation (+4.2 p.c.)
For the year in prospect, projected recruitment is put at 1,878, down from 1082 in 2007/2008, a fall of 18.8 p.c.. The brunt of the decline will be in professional recruitment, down from 527 last year to to 317 this year and non professional graduate recruitment, down from 226 last year to 127 this year. At the trainee level recruitment will be broadly maintained, with PWC holding its quota at 280 for the coming year, compared with a slight decline for KPMG, from 357 in 2007/2008 to 326 in 2008/2009. Productivity, as measured by fee income levels per staff member in Ireland's top twenty accountancy firms has slowed considerably, in line with the slow down in fee income, with fee income per chargeable staff member rising in low single digit figures on average last year. Productivity lagged nominal fee growth in most cases, indicating that recruitment continued at a faster pace than income.