5,000 Graduates Major In Accounting Achieve Permanent Residency Last Year

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Although recruitment companies forecast that the accounting profession in the next few years will be an oversupply in some areas and local accounting graduates in Australia will find it difficult to find jobs. However, among the population of Australian technical immigrants, accountants occupy the largest proportion.

According to data from INS (Immigration and Naturalization Service), among the 17,529 technical migrants that were endowed with permanent residence permit in the 2009-2010 fiscal year, 4,944 majored in accounting. The amount is far more than the number of people major in engineering, computer and other professions on the list of technical career.

Recent Graduate Destination Survey (GDS) shows that, in 2010, about 21% of the local accounting graduates in Australia cannot find a job four months after graduation.

Recruiters said, the demand for accountants has disharmony. According to Geoff Balmer, director of the professional accounting recruitment company Richard Lloyd's, accountants in the fields of high-tech financial management are in high demand currently in the market. But these accountants ...
... should have an experience of 3 to 5 years and the annual salary will be at between 80,000 to 110,000 yuan. He explained, “Of course, this is limited to certain areas and those accounts with experiences. For fresh graduates, the situation they face is not easy and many

Balmer also said that although some of the major accounting firms are willing to guarantee for overseas employees, most companies are reluctant to do so, which are more willing to recruit in local places. Most of the immigrants working as accountants in Australia came to Australia through the holiday visa or the identification of independent technical immigrants.

Director Grahame Doyle in New Jersey division of Hays Recruitment Company said, the market relatively demands more accountants in the fields of audit, tax and public sectors, while fields of financial services especially in retail banking service demand fewer accountants.

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