Commerce & Industry Accountancy Hiring Set to Rise 13% as Financial Services Contracts
- Financial Services accountant vacancies are forecast to fall by nearly 5% in 2026.
- Commerce & Industry accountancy vacancies are forecast to rise by almost 13% in 2026.
- London's share of Financial Services accountant hiring is expected to reach 57% of all UK vacancies.
- Energy & Utilities is forecast to be the fastest-growing accountancy sector, with vacancies rising by almost 75%.
The UK Accounting & Finance recruitment market is becoming increasingly divided between Financial Services and Commerce & Industry, according to new research from Morgan McKinley and Vacancysoft.
While Financial Services hiring is forecast to decline for a third consecutive year, Commerce & Industry demand continues to accelerate, driven by infrastructure investment, digital transformation and the growing need for finance professionals with commercial and technology expertise.
Richard Speight, Associate Director, Accounting & Finance at Morgan McKinley, commented: “The UK Accounting & Finance recruitment market is increasingly operating as a two-speed economy. While hiring in Financial Services remains constrained by cost pressures and selective investment, Commerce & Industry is benefiting from infrastructure spending, digital transformation programmes and growing demand for finance professionals who can support business performance and strategic decision-making.
What we're seeing is a clear shift away from volume hiring towards capability-driven hiring. Employers are prioritising candidates with a blend of technical accounting expertise, commercial acumen and technology skills, particularly in areas such as data analytics, automation and finance transformation. As investment in energy, engineering and operational transformation continues, we expect Commerce & Industry to remain the primary driver of accountancy recruitment growth through 2026."
Financial Services Contracts Further
Accountancy vacancies within Financial Services are forecast to fall by nearly 5% in 2026, although the rate of contraction has eased compared with the previous year but still the third consecutive annual contraction. London is expected to remain relatively resilient, with vacancies forecast to rise by just over 1%, while hiring across the rest of the UK is expected to fall by almost 12%.
As a result, London's share of Financial Services accountancy demand is forecast to reach 57%, reflecting the focus on cost control while investing in Banking, Investment Finance and Asset Management functions.
Investment Finance Leads Demand
Despite broader market slowdown, Investment Finance remains the largest Financial Services segment, with forecast to remain broadly stable in 2026 after a sharp decline the previous year.
Commercial Banking is expected to contract by around 8% but represents more than a quarter of all Financial Service vacancies. Together, the two segments account for almost 58% of all vacancies. Insurance and Consumer Finance remain weaker areas of the market, while Asset Management is expected to record growth.
Commerce & Industry Drives Recruitment Growth
Commerce & Industry continues to outperform Financial Services recruitment, with accountancy vacancies forecast to rise by almost 13% in 2026. Growth is strongest outside London, with Yorkshire and the Humber forecast to lead regional expansion at 40%, followed by the East Midlands and South West.
While London is still expected to record growth close to 10%, regional markets are driving overall demand. The first five months of 2026 have already generated more than three times as many Commerce & Industry vacancies as Financial Services, underlining the scale of the shift in hiring activity.
Energy and Major Employers Expand
Energy & Utilities is forecast to be the strongest-performing accountancy hiring sector in 2026, with vacancies rising by almost 75% as investment linked to the UK's energy transition continues. Support Services vacancies are expected to increase by 49%, while Industrials & Engineering to grow by more than 20% for a second consecutive year.
Among employers, JPMorgan Chase remains the largest Financial Services recruiter, while Barclays, BNY Mellon and Legal & General are all expected to increase hiring activity. Within Commerce & Industry, Sainsbury's, Sodexo and Entain are forecast to lead recruitment demand, while National Grid, SSE and Babcock continue expanding their finance teams.
Top Companies: Accountant, FS, 2024-2026* , UK
| 2024 | 2025 | 2026* (Est) | YoY% 26*/25 | |
|---|---|---|---|---|
| JPMorgan Chase | 130 | 148 | 175 | 18.4% |
| Barclays | 55 | 90 | 96 | 6.7% |
| Lloyds Banking Group | 140 | 116 | 94 | -19.3% |
| Legal & General | 122 | 80 | 91 | 14.0% |
| BNY Mellon | 37 | 42 | 77 | 82.9% |
Top Companies: Accountant, C&I, 2024-2026* , UK
| 2024 | 2025 | 2026* (Est) | YoY% 26*/25 | |
|---|---|---|---|---|
| Sainsbury’s | 66 | 54 | 113 | 108.9% |
| Sodexo | 39 | 25 | 91 | 264.8% |
| Entain | 18 | 44 | 91 | 107.3% |
| National Grid | 50 | 38 | 89 | 133.7% |
| BAE Systems | 85 | 95 | 86 | -9.1% |
For more information, contact Sharmee Mavadia on smavadia@morganmckinley.co.uk or Anastasiia Bohush on anastasiia.bohush@vacancysoft.com.
The full report, produced by Morgan McKinley and Vacancysoft, is available to download [here].
NOTES TO EDITORS
To download this report by Morgan Mckinley and Vacancysoft please click here.
- The data contained within the report is gathered solely and specifically from the career pages of company websites, not job boards.
- Before publication, job postings are de-duplicated and verified as unique. Every vacancy is assigned up to 20 data points through Vacancysoft’s proprietary algorithm, which is double-checked for validity by a data quality control team.
About Morgan McKinley
Morgan McKinley is a global talent services expert, offering the full spectrum of solutions to meet employers’ and jobseekers’ needs. With 19 offices in 10 countries and nearly 1000 employees, it provides three distinct solutions for customers:
- Morgan McKinley Recruitment Solutions encompasses deep expertise across 10 professional disciplines, offering temporary, contract and permanent recruitment
- Morgan McKinley Executive Search targets C-Suite talent searches
- Morgan McKinley Talent Solutions includes RPO, MSP, project recruitment and more
Morgan McKinley is part of Org Group, a professional services firm focused on reshaping how work gets done through technology and talent.
About Vacancysoft
Vacancysoft is the UK's leading provider of labour market data and analytics. We provide high-grade lead generation, client intelligence and market analysis solutions for Britain's top recruitment industry firms and others.
For more information, visit vacancysoft.com.
