Things may start looking up by the end of the year for those in the finance and accounting profession, according to a survey by Morgan McKinley, a global professional recruitment consultancy firm.

Fifty-three percent of employers in Singapore believe that financial and accountancy recruitment will start to increase before year-end, the survey found.

Conducted in March this year, it polled 120 senior human resources and hiring managers in financial services and other commercial organizations.

According to Jeremy Canning, managing director of Morgan McKinley Singapore, there is still some demand within the wealth management space, as well as, in risk and technology from both financial institutions and industry.

The survey also said that despite the increased competition in the market for fewer jobs, basic salaries are likely to remain as they are. Seventy-three percent of employers polled expect basic salaries offered to new recruits to remain the same in 2009. This is because 81 percent of these employers believe that it is just as difficult (47 percent), if not more difficult (34 percent) to find the right candidate for a job than it was a year ago.