As a specialist recruiter with over 11 years experience of working with accountants, we have had many a conversation with accounting professionals at all levels and across different disciplines about their careers and plans for the future.

During this time, we have always found that the biggest crossroads tend to be when people are approaching qualification to become a newly qualified chartered accountant. Having entered the profession as a graduate, trainee accountants tend to be on what could be classed as a pretty straightforward path for the first 3-4 years of their career. Within the larger firms, they generally tend to specialise within a specific accountancy discipline such as audit and as the year’s progress and they pass further exams, the level of responsibility they take on increases.

We have found that during this time there is a real split in how people approach and think about their future careers. Whilst some have very set plans beyond qualification, the majority tend to focus on what they are doing now as the workload and exam pressure can become quite consuming. Once they have a chance to lift their head and look to the future, the natural tendency when thinking about career progression and change is to move away from what they are currently doing with a ‘the grass is always greener on the other side’ approach rather than trying to embrace what they have achieved and where it can take them internally or within another accountancy practice firm in the same discipline.

As a specialist recruiter and career consultant, it is key for us to understand not just what skills they have obtained but to dig deeper and try to gain a better understanding of their personality, what motivates them and where they would like to progress in their career. This then allows us to offer advice and assist them to plan effectively to achieve their short, medium and long term objectives.

“I want to be more commercial!”

Most conversations and meetings we have with potential candidates normally start with:

Candidate: “I want to get out of audit” or “I’m not sure what I want to do but it needs to be something more commercial”

Levitate Recruitment: “OK, why do you feel you need to move away from audit and what would you class as more commercial?”

At this point, we normally receive a blank stare before a few job titles are thrown at us such as, corporate finance executive or working in industry as an analyst or a Financial accountant. When asked why they feel those areas would be more commercial? We have received some great answers but more than often, an answer that hasn’t been considered and one that has no real evidence of why it would be the right move for them in seeking out something ‘more commercial’

We can see why people may initially believe these disciplines are more commercial, they are certainly different to audit but it’s fundamental that people research both areas to gain knowledge of the different types of opportunities that are available, what the day to day duties will be and how the move will improve their CV and develop their skillset further. Once you have done this then you will have a better idea if it really is more commercial than a progressive audit role and if it is in fact the right move for you.

It is also important to understand if a certain move is available at this stage of your career and if not, what do you need to do to improve your chances. This is one of the many reasons why experienced consultants that have worked in accountancy recruitment can be invaluable when people are looking to take the next step. Many newly qualified accountants choose to apply for lots of roles directly and whilst this can be a good way to secure a new role, there is no harm in at least having a conversation with an experienced recruiter that understands the current market as this can not only provide useful insight but also remove the risk of you applying for roles that you will not be considered for at this stage. If it turns out that the move isn’t possible just now then they will be able to assist you in working towards this move within your current role or providing a stepping stone move that will get you closer.

“I made a mistake!”

Whilst many jump ship into industry to get an extra few thousand pounds and a move out of audit, we regularly receive calls from the same people 6 months later to state that the move wasn’t all they thought it would be and whilst they are working for an industry company, the role is anything but commercial. Some will move as analysts and find themselves looking at spreadsheets with no real communication with business leaders and some will move as management or financial accountants and find themselves working on the same accounts every month in a role that has very little impact on business strategy.

Another key factor for people coming back to us to reconsider a career in practice is that they miss the client interaction they were once accustomed to and they often miss the opportunity to work across different sectors and with a whole range of different business sizes that operate in a totally different way. We frequently hear “I didn’t think that working in audit was that commercial or interesting, but I now realise that I learned so much more about different businesses when I was working on-site and interacting with my clients”

This is of course not the same for everyone and many people do make immediate moves into industry that work for them. Below we have provided a few points to consider that may assist you to make the decision to further your career within practice first.

Legacy & Time invested within your current firm

You have worked long hours and developed goodwill within your current firm – Try to take advantage of this and sit down with your managers and directors to discuss a career plan that will take you further – They will more likely be open to investing in you than a new person joining and as someone that is more senior, they can hopefully educate on the different options that will also work for the firm. One of the hardest parts of running a successful business is to attract and retain good staff that are motivated to assist the business to move forward. Why not try to utilise your commitment and loyalty as a strength to either push on within your current specialism or move across to another area of the business to gain further skills.

Change Specialism

There is the obvious choice to push on within your current specialism but if this is something you really don’t wish to do then why not ask about other areas of the firm that you can work in. It is important to do your research first. This should include looking at all areas of the business and taking the opportunity to speak with people in these departments to understand what they do and what they enjoy about their roles. Once you have done this then ask the question! If it isn’t available then perhaps another great accountancy practice down the road can make it available?

Further training and a structured career path

It is well known that accountancy firms can offer further training and a structured career path. This is not often the case when moving into industry as many firms do not embrace or feel there is a need for further training. Depending on the size of the firm, there may only also be a few steps up that you can take and you, therefore, see yourself sitting in the same role for quite a long time which means you then need to make another move to push forward. Accountancy departments are just one part of their business and as a cost to the business, rather than a revenue generator, it is often the area that receives less investment in training and development. We also find that there can be a big gap between the newly qualified roles and FC/FD roles which normally means they recruit someone more experienced into the business above you.

Same firm – New Opportunity 

Working as a newly qualified accountant within practice also means that you have now dropped the exam pressure that was hanging over your head. You are most likely about to receive a promotion and pay rise where your role will gradually begin to change and your responsibilities will give you more feeling of importance and value to the firm. Try to embrace this chance as a new start in the business where you can build on your knowledge and focus on the next step. Setting timelines and objectives for promotion is certainly more manageable within a practice structure and most firms will provide 2 years programmes for you to take the next step up. You can make slightly more money stepping into industry at a newly qualified level but the rise in salary and opportunity to push to manager will generally happen quicker in a practice firm due to the structure and 2 yearly promotion cycles. Once this does happen, you will see the salary level jump up much quicker each time. We also find that those that have had further training and decided to move into industry at manager level are more than likely going in at a higher level than their peers that may have left at NQ level.

Candidate Pool & Competition for jobs

As external audit is a specialist area, accountancy firms are unable to hire just any qualified accountant. They need people that have relevant experience in audit within certain sectors and people that have years of experience in working with a range of reporting standards. Since the day I started recruiting in practice (over 10 years ago) there has always been a shortage of experienced auditors both in the UK & overseas, which means there is a great opportunity for you to capitalise on this and push on into a more senior role.

Within industry, this is a totally different scenario! Yes, there are roles available for NQs to secure but the competition for these roles is extremely high. You will be up against people from all different backgrounds that have worked in different firm environments and within different sectors. Many of the larger FTSE firms will have some criteria based on the career path they have followed and will generally seek out Big 4 trained professionals or those with a specific sector background.

You will also find you are not only up against newly qualified individuals from practice but a much larger candidate pool of people that have either trained in industry or those that have already made the move and now have industry experience. As an employer looking to make the best hire, it is much easier to take a safer bet and employ someone that already has industry experience and is settled in that environment rather than a practice first-time mover who hasn’t had this experience and may require some further on the job training.

Touching on the point above: Remaining with your current employer where you have built a legacy and proven loyalty will generally be respected and rewarded. If you are making a move into industry with a new employer then building loyalty and trust is back to the start.

Moving to another practice firm

For some of the people we speak with about their next step, it needs to be totally different. They need a change as they really do not enjoy the area of accountancy they are working in. Some leave accountancy altogether as they realised early on that it wasn’t for them but didn’t wish to lose the time they had invested in working towards the qualification. Others that need a change will often work out that it’s not the work that is making them unhappy and clambering for change but the environment they are working in or the people they are surrounded by. Some are unable to work this out for themselves so you must take time to consider the pros and cons of your role so that you can understand what it is that makes you unsettled. If you are struggling with this then speak with a specialist recruiter who can assist you to break down what you do and don’t enjoy.

A move to a new firm and role provides a new start and is often viewed as an opportunity for you to shine and progress. As an experienced consultant, We will always advise everyone we speak with to sit down and speak with their current firm about their career path and what is on offer as it’s impossible to make an educated decision if this hasn’t been explored. If we are being totally honest, it’s also a way of protecting our time as firms do not wish to lose employees and 9 times out of 10 will sit down with their employees after they have tendered resignation to work out what they can do to keep them before providing a counteroffer to keep them. It is always the first place to start when considering options but we will also advise people to at least consider speaking with other firms at the same time so that they can get a better view of what else is on offer and how this compares to what is available within their current firm. Those that do this can then confidently move forward in their career knowing they have researched and considered all options before making a commitment.

Working Overseas

Achieving ACA or ACCA status means you can literally work anywhere in the world that recruit’s accountants. Most of the major International cities will have the same Top accountancy firms you would expect to see in the UK. If they don’t then there will most certainly be some kind of affiliation to one that you know. As in the UK, qualified accountants from a practice background are always in high demand and there is no better time to make an international move than at the newly qualified stage as this is when you are viewed as being ‘the most flexible’. Moving at a later stage in your career is still possible but there will always be fewer opportunities to consider. We also find that the older someone gets then the less likely an International move will be as their situation changes and can sometimes dictate available options.

Making an International move in industry is possible but is less likely if you do not have prior industry experience. As a recruiter that has assisted people to move all over the world to places such as Australia, New Zealand, The Caribbean, Canada, Luxembourg, Switzerland and South Africa, we have never once spoken with a newly qualified accountant from practice that has successfully made this international move without travelling over to work in a practice firm first. My advice is to make a move for a minimum of 12 months in a similar practice role and then make the move into industry. This way, you will have more locations & opportunities to consider, the move will be smoother as you are doing something you know and you will also have a chance to gain an understanding of any differences there are in accounting rules and processes whilst working with a wide range of specialist accountants.

As a specialist recruiter for accountancy practice roles, we will of course lean towards remaining in practice as a great option. We have seen the benefits of further training and career progression and witnessed people progress from newly qualified to Director and Partner level. Whilst this is the case, Industry also offers people great opportunities and we have also seen many people make great moves where they have progressed to FD and even CEO.

If you are unsure about your next step then we are always here to assist and provide advice. It may be that you want to consider both options and if this is the case then the best option is to also speak with recruiters that specialise in industry roles and try to meet with several firms that can offer you a different outlook on how your career can progress and develop. If you do your research and take your time then hopefully whichever way you go will be the right direction for you.

Career decisions are some of the most important life changes you will ever make. Let us help.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

Within this post, we will talk about our experience of working with candidates before interviews and how important it is to define your goals and objectives when meeting with a potential employer.

Moving jobs can be a stressful time for most people as they are heading into the unknown. You will be stepping away from your comfort zone of walking into your current office where you are respected by colleagues (hopefully) and you know your job and what is expected of you. Suddenly you are putting your name out there and are now in a position where you will need to sell your skills, experience and personality to someone you have never met. Often this uncomfortable feeling will lead to nerves and it can often change the mindset of how someone approaches their search and how well they perform at an interview.

When speaking with candidates in preparation for interviews, we often find that 2 out of 3 candidates are unable to define their key objectives. Most people are good at explaining what they need to get across in the meeting and what they want to learn about the company but they are unable to clearly define what they want this to lead to.

The main answers we receive when asking ‘What do you feel are the 2 key objectives for you when attending an interview?” are as follows:

Category 1

• To sell my skills & experience
• To show them I am the right person for the role
• To get my personality across
• To demonstrate to them that I work well in a team and with clients
• To get on well with the interviewer

Category 2

• To find out more about the role and the client base.
• To see if I would be more suited to working in a smaller/larger work environment/firm
• To make sure the location of the office or clients work for me
• To see if they are a better firm to work for than my firm
• To see if the opportunity is better than another one I have been offered – It will give me a good comparison
• I have heard mixed reviews about the firm from people that have previously worked there but I would like to decide for myself

There are many more (some too ridiculous to mention), but the above are the main ones. As you will see, the responses have been split into 2 categories; the first is about impressing the interviewer and the second set are aligned to finding out more information on the company.

We often hear: “The interview is a two-way process. The company need to sell themselves to me so that I want to work for them”

It’s hard to disagree with this and we always speak with our clients before an interview and recommend that they do sell the opportunity as we are working in what many would class as a ‘candidate led market’ where there are often more opportunities being advertised than readily available candidates that are looking to make a move. In this case, candidates have more than one option to consider so clients should be selling the opportunity, whilst also trying to gain an understanding of the person’s skills and experience and suitability for the role.

From a candidate perspective, the client selling the role to you is important and it’s great for you to feel the love but it is also a Two-way process for the client so it is more important that you identify and align your objectives in the correct order to ensure you get the best out of the interview.

Main Objectives:

Objective Number 1 – GET THE JOB!

Objective Number 2 – Decide if you want it! – Gather enough information about the opportunity to decide if it is for you.

Obvious, right? In plain sight, it is but it’s very rare that people come to this conclusion straight away and will often order them in the wrong way. We sometimes hear, “what’s the point in being offered a role I don’t particularly want”  This is a fair point but unfortunately, it is very difficult to come to this decision until you have met with the firm and it can, unfortunately, lead to an unsuccessful and disappointing outcome.

Prioritising them in the right order will hopefully leave you in a position of control. If you lose this control, then ultimately you could lose it as an option. It is much better to be in control and have more than one offer of employment on the table. Once a firm has made the decision that you will add value to their business and they want to employ you, we now have more leverage to go back and ask further questions to assist you in determining, is this role right for me!

Candidates should also consider how much time they spend in an interview asking questions. This could be your only chance to sell yourself to the firm and they may have other candidates under consideration. There is nothing worse than not being offered a role purely because you were unable to tell them about something they needed to know to make a positive decision. Asking good quality questions about the role, the firm and the overall opportunity is a key part of the interview but most of your time should focus on providing reasons as to why you are the best candidate for the position, rather than, are you the best company for me. You will have the option to ask any further questions at the end of the meeting and again, greater leverage to ask further questions once an employer has offered you a position and want you to join the team.

Preconceived ideas and order of preference

It is also very natural for people to have preconceived ideas about firms and often candidates will start to rank opportunities in order of preference before they have even met with a firm. Reasons behind this can be any of the following:

• Size of the firm and where they rank compared to others in the Top 100
• Location of the business
• The number of offices they have
• Opportunity to work overseas -Do they have an international presence
• Company brand and how they represent themselves online
• Other people opinions of the firm and what they have heard
• The job specification
• What other service lines do they have
• The interview process – Do they have testing and how many interviews will there be

It is very difficult to move away from preconceived ideas and preferences as we are all human and whilst they can sometimes be positive, the problem of holding preconceived notions as being true is that they can also lead us to very negative and critical beliefs that can also affect behaviours and how well you perform in an interview.

This is something that we discuss with every candidate we work with and it’s amazing how many times people will change their mind about a firm and where it sits in their order of preference once they have met with them.

Put yourself in the position of this happening to you. You have met with a firm that has shown interest in you joining and you have now decided that you really want to work for them, this is the job you have been dreaming about – If you knew this before the interview, what order would your objectives have been in? Are you now worried that you won’t be offered the job? Have you done enough to be offered the job?

By clearly defining your objectives and putting them in the right order, you should have prepared extremely well for this interview and done everything you can to achieve an offer. If an offer comes then you have hopefully reached both of your objectives successfully – WELL DONE TO YOU. If an offer doesn’t come, you have only successfully met one objective of deciding that the firm is right for you but unfortunately, you have not done enough to be offered the dream role and Objective Number 2 now becomes irrelevant!

It is so important that you do your best to remain in control so again your focus and Number 1 objective of going to an interview should always be:

GET THE JOB and then decide afterwards if you want it!

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.