Public Practice: 10 reasons to stay

Public Practice: 10 reasons to stay CANDIDATE SUPPORT

July 2017

FINANCIAL SECTOR RECRUITMENT

Public Practice: 10 reasons to stay Deciding which career path to take after you have qualified as a chartered accountant can be difficult.

A move away from public practice firms is at its highest at the newly qualified level.

However, the benefits of continuing your career in public practice are plentiful and sometimes undervalued.

Johanna Strachan Associate Consultant Accounting & Finance

Here are our top 10 reasons why progressing within public practice could be the best career choice for you.

1. Progression Accountancy has many career paths you can follow. There are different aspirations to work towards, with many aiming for partnership in the long run and the rewards it brings along the way.

Promotions and salary increases can be numerous as you work your way up the corporate ladder.

2. Accelerated responsibilities If you elect to stay in public practice, you may attain managerial posts faster than those leaving the sector.

Often you can step into more senior responsibilities with two or three years’ experience, leading junior recruits to sharpen your management skills.

3. Senior stakeholder engagement Roles within public practice are client facing, allowing you to develop your network as well as enhance your relationship building skills.

Potential clients could be an FTSE 100 listed company or a high network individual, giving you the chance to interact with a variety of senior people in the business community.

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Public Practice: 10 reasons to stay

4. Continuous development Public practice firms have a vested interest in keeping you at the forefront of changing business models, keen to develop your regulatory knowledge in tandem with your business acumen.

To ensure they are giving their clients the best possible service, regular training and support is provided to you - improving soft skills in management, training on the latest technology changes, and staying at the forefront of accountancy through the latest updates are just a few examples.

5. Lifelong network Public practice enables you to make a large and long-term network for yourself. The sector allows you to build relationships with people internally and across your client base, that opens doors for you as your career progresses.

6. Collegiate environment Being surrounded by ambitious and driven people helps improve not just your network, but can also inspire you in your career.

The unique public practice model of working across multiple clients with different partners and senior management gives you exposure to a wealth of mentors and colleagues you can learn from.

7. Job security Public practice firms are resilient when it comes to economically hard times. Working in a specialised business when the sector is hit by a recession can make your job vulnerable, with a high potential of being made redundant.

Aberdeen’s oil and gas sector is a high-profile example. Such a risk is mitigated by the diverse client base characterising public practice firms.

8. Competitive salary Accountants in public practice are well remunerated. The CA 2016 Magazine Pay Poll revealed that the average salary of a manager in public practice was over ÂŁ50k, with ÂŁ64k available among the big four practices.

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Public Practice: 10 reasons to stay

This can be achieved after an estimated five or six years in public practice.

Of course, you can always aim for the six-figure salary of making partner.

9. Mobility There is a lot of choice in terms of location, with practices operating in every country and across rural areas, small towns, and large cities.

As such, you can often move to suit your personal life throughout your career.

You have the chance to be in a big city, live and work abroad, or return to a location suited for a family, as many do later in their careers.

10. Future career options Public practice experience offers you the chance to transition into new business sectors - such as asset management, fast moving consumer goods, banking, fintech, or charities.

Or you might enter a new discipline - risk, tax, corporate finance, or IT audit.

Embrace the choices Post qualification is a natural juncture to take stock of what career options are worthwhile. The options offered by your present firm or the wider public practice is worth serious consideration and will add to the choices available to you in the future.

You are at an exciting time in your career, with a world of opportunity ahead of you. Don’t be afraid of the vast array of choices; embrace them.

Johanna Strachan Associate Consultant Core-Asset Consulting t: 0131 718 4600 e: johanna@core-asset.co.uk

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About Core-Asset Consulting We are an independent recruitment company dedicated to asset management, accounting & finance, asset servicing, legal and the wider financial services sector in Scotland.

A specialist recruiter, our expertise extends across permanent, interim, temporary and contract positions, as well as preemployment vetting and on-boarding services.

Working in close partnership with clients to tailor the most effective recruitment strategies, we have the resources to target exceptional candidates - at home or overseas - and match them to roles that encourage them to excel.

To do so, we put people before profit, service before sales and ethics above all.

High expertise, engagement and value Initially we made our reputation within Scotland’s asset management sector. But the success of our model has allowed us to expand rapidly.

We have developed into the wider financial services market, built an accounting and finance team, established an interim, temporary and contract division, launched a vetting and onboarding service, and expanded into the legal sector.

Helping your business grow Whether you’re wishing to fill a specific position, keen to find out about the latest market trends or just looking for advice, we’re here to help.

For more information about the services we offer, please get in touch: +44 (0) 131 718 4600 edinburgh@core-asset.co.uk www.core-asset.co.uk

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CORE-ASSET CONSULTING 37 Melville Street Edinburgh EH3 7JF t: +44 (0)131 718 4600 w: core-asset.co.uk