In 2024, multinational corporations (MNCs) and Thai companies took differing approaches to hiring and workforce planning in 2024.

In recent years, more MNCs have moved their regional hubs from Singapore to Thailand, which has led to an increase in      headcounts for finance business partnering and regional roles. Despite Thailand’s lower operating costs, cost-effectiveness remained a top priority. Kanruthai Somchitrmool, Manager at Robert Walters Thailand, states that many senior finance positions were made redundant as MNCs consolidated positions to create a leaner workforce, leaving demand for senior roles subdued. Mid-level finance professionals, however, were highly sought after.

Meanwhile, both mid-level and senior level finance professionals were in demand among Thai companies, especially in family businesses led by second or third generation leaders. “We saw more requests for CFOs and heads of accounting, particularly in agriculture and food manufacturing, as these businesses seek expertise to transform from family-run operations to professional managed companies,” shares Kanruthai. However, demand for business development and investment positions saw a marked decline compared to previous years.

Read on to find out more about Kanruthai’s expectations of the labour market and hiring trends for Thailand’s Accounting & Finance professionals in 2025.

Counteroffers with a twist

While many finance professionals express concerns about the rise of automation and artificial intelligence (AI), these technologies can provide new opportunities for career advancement.

“As businesses incorporate AI and automation, demand will grow for finance professionals who can use these technologies to enhance efficiency and pick out valuable insights,” Kanruthai points out.

“Moreover, soft skills remain crucial in hiring for accounting and finance, underscoring the need for professionals who combine technical proficiency with strong interpersonal abilities.”

Companies are already putting out competitive counteroffers to retain top talent, and Kanruthai expects this to continue, but with some slight changes. Instead of pay increments, companies will offer an expansion in role and responsibilities to keep talent engaged.

Business partners and changemakers stand out

Talent with FP&A and ERP literacy are highly sought after. Across roles, companies are also looking for professionals with strong business partnering skills, expertise in transformation, or those who can act as change agents.

The most popular roles in the year ahead are CFOs and heads of finance and accounting, financial controllers, accounting managers, and talents specialising in FP&A or finance business partnering.

Help employees find job satisfaction

Accounting and finance professionals are generally open to new opportunities, yet they approach each job change with great caution. Kanruthai notes that most are compelled to move for roles that offer better progression and higher pay, or if they are seeking an out from a poor cultural fit.

The market has always been candidate-driven, so companies will do well to pay attention to candidates’ expectations for compensation and benefits. At minimum, candidates expect insurance coverage and provident funds, viewing these benefits as indications of a company’s stability and financial strength. For strategic finance positions like CFOs and directors, the bar is even higher, with expectations for stock options and share plans.

“Always think ahead to attract and retain talent in this space, as these professionals have no shortage of opportunities and can move anywhere. On top of rewarding salary packages, keep them fulfilled and engaged by providing challenging assignments that allow them to grow their expertise,” Kanruthai urges.

Rise in salaries and counteroffers

Salaries are expected to go up at the same rates as before, with most companies providing increments to match the rate of inflation. Job movers can expect 15 – 20 %   increments in new contracts or counteroffers, or even more for mid-level finance business partners, who are in great demand.

Find out more

Request access to our 2025 Salary Survey to benchmark salaries and to find out more about key hiring trends in the Accounting & Finance industry in Thailand.