Hi all,
I am in need of some advice.
I am currently working for a small independent firm doing mainly accounts prep as well as assisting on a number of audits.
Upon qualification I would like to move to a bigger firm ideally with an international network and with opportunities of international exposure.
Having spoken to fellow trainees at college I am concerned that my experience will not prepare myself for a move to a bigger firm. Qualified accountants are expected to lead audits at the bigger firms which is something I won't be able to do as all my limited audit experience has been restricted to junior work. Also their audit work is completed using "paperless" audit software which I have had no experience of.
My accounts prep work is not very challenging and as my current firm has not recruited for a number of years I am still the most junior member of the team after two years.
I am almost part qualified (ACA) having completed all my professional exams at first attempt. I have enjoyed my studies but am concerned that I am not getting the corresponding experience.
Will staying at my current firm hinder my career progression?
Do top tier firms recruit part-qualified accountants? In my experience they only recruit at school leaver or graduate level and then fully qualified accountants.
Any advice will be greatly appreciated.
Related resources
Replies (8)
Please login or register to join the discussion.
Good luck
I see no-one has answered yet - so hopefully this may start things off.
However, I trained in industry (CIMA) so haven't direct experience of your situation,
However (again) with the benefit if hindsight I can say that things usually have a way of sorting themselves out in the end - and also that the divisions you imagine exist as 'concrete' within the profession do not end up being so solid - but become more permeable.
Good luck with your endevours. Large firms may actually like your broader experience.
Hope things work out.
Experience
However, I trained in industry (CIMA) so haven't direct experience of your situation,
I am the same as tom123.
However, I would say that every trainee/part qualified accountant I have ever met (including myself) has worried about their experience and log book.
Please do not worry, keep on working and learning and I am sure that it will all work out (you are not expected to know everything about everything the moment you pass your exams, in fact that is when the learning really starts !).
Also, with regards to your college mates who work for bigger firms and their whizzo "paperless" systems - from my experience (Big 4 Auditors - the trainees do a lot of ticking and bashing and do not really see the full audit) it is likely that you would adapt better to their environment than they would to yours.
Please do not underestimate what you may see as "manual" work at the moment as this knowledge will stand you in good stead for the future.
.
you dont say what age you are, which is an issue.
in my experience big 4 firms will not hire someone with a background, solely from a small firm. Unless you excelled academically and are in the running for prizes at exams your CV simply wont stack up.
if you are young and you want to move into big 4, I'd suggest that you strategically start to pick larger firms than yours and try and get jobs there, working up to a job in a top 20 firm, before approaching big 4. You need to take small steps. This will broaden your exeprience. Remember, it is theoretically easier to trade down to a smaller firm than it is to trade up to a larger firm.
A mistake I made in hindsight, was to stay too long at a smaller 8 partner firm. Whilst the experience was great and better initially, than you would get from a big 4 (IMO) I levelled out after year 3 or 4 and got into a rut.
If you are older than 25, I'd guess that you may have missed the boat. Some other may disagree, but that is my opinion.
I also would try and differentiate yourself from the other accountants in practice. Whether that be tax or corporate finance or a particular sector. Unfortunately, the industry appears awash with general practice accountants where, with the greatest respect it is difficult to tell a lot of them apart.
Alternatively you might just get lucky.
Best of luck.
over the hill!
Blok,
At 27 I am actually over the hill in trainee terms! I am a actually a career changer prior to accountancy I worked in sales and customer service as well as spending over a year abroad.
After finding it harder to knuckle down when I was younger, I got a 2:2 at uni, I am now coming into my own and have scored consistently high marks in my professional exams.
Although it would look nice on my CV I am not too concerned about working for a big four firm. What I am looking for is international exposure which I think would be possible with a top ten firm.
Thanks for your advice I will be sure to take it on board.
My thoughts
First I am assuming that with you studying ACA you have a training contract. Therefore should you leave before your training contract ends will you be liable to repay your employer x amount for your training? This is certainly standard practice in the firms I have worked at.
By moving to bigger firm you will certainly have to specialise from the outset and I assume because you mention audit several times in your post you want to specialise in audit. If this is the case then I suggest you take small steps to your ultimate goal and be prepared to move firms on a regular basis to get the experience you want.
For example look to moving to a large indpendent in your local area where you can get more audit exposure (if thats the area for you). Stay for a couple of years then look to moving onto a top 100 firm again repeat the process and look for a top 10/big 4 within 2 years.
It can be done if you are determined.
My own personal experience is I went from industry to practice via a micro practice before trading up to a large regional 6 partner independent before being offered a job with a top 100 firm. I personally decided against moving up again and instead moved to a smaller practice to take a management role.
"Do top tier firms recruit
"Do top tier firms recruit part-qualified accountants? In my experience they only recruit at school leaver or graduate level and then fully qualified accountants."
Why don't you do some continuing education to get the preferred qualification for your dream job? See, you have nothing to lose in your current company, get some education and go ahead. - Software Engineer Resume Example
In my view, if you are financially good enough, then there is no problem of quitting this small company and trying for the big companies. Many big companies don’t need experience of previous works. They have their own strategy and own system of doing the job like you’ve said they are doing all paperless. Even if you’ve learn these things, you are supposed to undergo with a rigorous training procedure according to their work culture and system. There you will learn a lot of things and will have a greater prosperity in your career.
http://www.aptiplus.in/