Following our Autumn 2025 and early-2026 updates, the first quarter of 2026 reinforced a picture many local employers already recognise: the recruitment market remains cautious, but structural skills shortages continue to shape hiring decisions.
Across Norfolk and Suffolk, hiring volumes remain below the post-pandemic surge seen in 2022–2023. However, strong candidates — particularly commercially minded finance professionals — continue to move quickly when the right opportunity appears.
National Backdrop
The March 2026 Spring Statement confirmed a softer UK economic outlook. The OBR forecast real GDP growth of 1.1% in 2026, down from its previous 1.4% forecast, citing weaker late-2025 data, a looser labour market and subdued business surveys. It also forecast unemployment peaking at 5.3% in 2026.
Sources: OBR, House of Commons Library
Global uncertainty has added to the caution. The IMF has highlighted energy prices, supply chains and financial markets as the main ways the Middle East conflict could affect economies. For SMEs in Norfolk and Suffolk, the immediate issue is less about demand disappearing and more about cost pressure, uncertainty and slower sign-off on hiring.
Source: IMF
What We’re Seeing Locally
Local hiring has not stopped, but it has become more deliberate. Employers are taking longer to commit, shortlists are often larger than they were 18 months ago, and additional internal approval is becoming more common.
“The biggest change compared with the strongest post-pandemic hiring period is confidence — not underlying need.”
Norfolk Chambers’ Q1 survey also points to pressure on local firms, with subdued confidence, reduced investment among some businesses and labour costs remaining a major concern.
Source: Norfolk Chambers
Where Finance Hiring Is Coming From
The strongest local finance hiring demand continues to come from four areas:
- Engineering and manufacturing: South Norfolk, Norwich and the wider manufacturing base continue to need Management Accountants and Finance Managers who can work closely with operations.
- Construction, infrastructure and energy supply chains: Large projects across the East of England are sustaining demand for project accountants, cost controllers and commercial finance specialists.
- Accountancy practices: Local firms continue to recruit across audit, tax, payroll and advisory, particularly where candidates can support SME clients beyond compliance.
- Growing SMEs: Owner-managed businesses reaching the £10m–£25m turnover stage are often strengthening internal finance capability through Finance Manager or Financial Controller hires.
Norfolk Finance Salary Reality Check
Salary inflation has cooled from the sharp increases seen in 2022–2024, but strong candidates still command a premium. Current public salary indicators suggest:
Management Accountant, Norwich
Around £40k – 45k average, with stronger or more commercial roles often reaching £50k-£50k+.
Sources: Indeed, Glassdoor
Finance Manager, Norwich
Around £50k – £65k range
Source: Glassdoor
Financial Controller, SME
Often £60k–£75k locally, with higher packages more likely where candidates bring ERP, multi-entity reporting, team leadership or strong commercial partnering experience.
FD/CFO
A wide range from £80-£130k+ depending on size of business and responsibility, to include £10-15k car allowance, bonuses, profit share and sometimes equity.
A Market Correction After 2022–2024
One noticeable trend is the after-effect of rapid salary inflation during the post-pandemic hiring surge. Some candidates moved quickly and secured significant salary increases, but the current market is now putting more weight back onto capability, leadership exposure and commercial impact.
For candidates, this means the next move may require clear evidence of broader business partnering, systems capability, team leadership and measurable business improvement.
For employers, it means salary history alone is a weaker benchmark than the candidate’s actual scope, impact and readiness for the next step.
Practical Takeaways for Q2 2026
For employers
- Expect longer hiring timelines, but move decisively when a strong candidate appears.
- Be clear early on salary, hybrid expectations and decision process.
- Consider interim support where long-term visibility is still limited.
For candidates
- Lead with commercial impact, not just reporting responsibilities.
- Show evidence of systems, data and process improvement experience.
- Prepare for more structured, multi-stage interview processes.
Overall, the Norfolk and Suffolk finance market is slower and more selective than it was two years ago, but it remains active. The best opportunities are still going to candidates who can demonstrate not just technical finance skill, but commercial judgement and the ability to help businesses navigate uncertainty.