Moving from Practice to Industry part qualified

Pelvis

Hi guys, posting this on behalf of my gf. She's working on the ACCA, hoping to finish the F exams in the next 6 months or so.

Her dilemma is, she currently works for a large practice in Dublin, it's a highly demanding and stressful job but it's not an accounting role.

She has been offered a position in industry. There's a bit of a pay cut but it's a simple 9-5, much shorter commute, less stress and generally greater quality of life as a result. Another reason for moving into industry is gaining experience in an accounting role, she's concerned about qualifying in practice without any first hand experience.

On the other hand, she's concerned moving from practice to industry part qualified will negatively effect her CV in the long term.

Her current employer have spoken about moving her into a more suitable role in maybe 6-12 months (though nothing concrete has been agreed yet), but it would mean continuing on as she is right now, and (imo) there's nothing to stop them reneging on any agreements made now. However by staying she may gain greater experience in the long run with greater scope for advancement. As an added bonus the practice is far more generous with regards to study leave compared to the new position.

I was hoping those here with more experience might be able to give some insight that may help her make a final decision.

Thanks!

jonnybravo

Pelvis wrote: »

Hi guys, posting this on behalf of my gf. She's working on the ACCA, hoping to finish the F exams in the next 6 months or so.

Her dilemma is, she currently works for a large practice in Dublin, it's a highly demanding and stressful job but it's not an accounting role.

She has been offered a position in industry. There's a bit of a pay cut but it's a simple 9-5, much shorter commute, less stress and generally greater quality of life as a result. Another reason for moving into industry is gaining experience in an accounting role, she's concerned about qualifying in practice without any first hand experience.

On the other hand, she's concerned moving from practice to industry part qualified will negatively effect her CV in the long term.

Her current employer have spoken about moving her into a more suitable role in maybe 6-12 months (though nothing concrete has been agreed yet), but it would mean continuing on as she is right now, and (imo) there's nothing to stop them reneging on any agreements made now. However by staying she may gain greater experience in the long run with greater scope for advancement. As an added bonus the practice is far more generous with regards to study leave compared to the new position.

I was hoping those here with more experience might be able to give some insight that may help her make a final decision.

Thanks!

It should be a positive if she's moving to industry and getting accounting experience. As long as she passes her exams and has good experience in industry she'll be sorted career wise.

Also if she's able to finish at 5 she'd have more time to study in the evening.

ACADasltiv

One of the main reasons for training in practice is the study leave, if that's not an issue then industry should be fine.

I'm surprised to hear that she needs to take a pay cut jumping to industry, it's usually the opposite. I know several who've made the jump while part qualified and it hasn't hindered them. Part of the reason for them jumping was the substantial pay increase, so if she does decide to jump I'd definitely have a look at a few other places before accepting the new job.

Timbo1987

Pelvis wrote: »

Hi guys, posting this on behalf of my gf. She's working on the ACCA, hoping to finish the F exams in the next 6 months or so.

Her dilemma is, she currently works for a large practice in Dublin, it's a highly demanding and stressful job but it's not an accounting role.

She has been offered a position in industry. There's a bit of a pay cut but it's a simple 9-5, much shorter commute, less stress and generally greater quality of life as a result. Another reason for moving into industry is gaining experience in an accounting role, she's concerned about qualifying in practice without any first hand experience.

On the other hand, she's concerned moving from practice to industry part qualified will negatively effect her CV in the long term.

Her current employer have spoken about moving her into a more suitable role in maybe 6-12 months (though nothing concrete has been agreed yet), but it would mean continuing on as she is right now, and (imo) there's nothing to stop them reneging on any agreements made now. However by staying she may gain greater experience in the long run with greater scope for advancement. As an added bonus the practice is far more generous with regards to study leave compared to the new position.

I was hoping those here with more experience might be able to give some insight that may help her make a final decision.

Thanks!

Firstly have a good read of her contract. Some firms make you pay back exam courses and fees if you leave in a training contract.

If thats all clear then she should have no fear. Industry roles are generally more structured and actually have to abide by labour laws (no 80 hour weeks)

A lot of people leave when they pass their exams anyway, its part of the accountancy merry go round.

Im also surprised about the pay cut in industry. Usually the other way around.

Practice can be a bit vague for growth as they are not sure what client they want you on in 12 months time.

Tell her to think of what the new opportunity is in. Is there many other opportunities to grow either internally or other employers in the same industry.

Best of luck

heretothere

I agree with Timbo, make sure she won't be made to repay her fees!

Regards experience, if she isn't in an accountancy role in her current practice is it likely she ever will be? Where does she see her career going? I think it would be very hard to be towards the end of your training/ exams and move into a more traditional practice role. I completed my 'time' in a mid sized practice and we had to do a very wide variety of work - company accounts, audit, payroll, book keeping, monthly taxes, IT, CT, company accounts. A third year would be expected to know how to all that.

With moving to industry she'd want to know what sort of support she is going to be getting, I moved to industry this year and it was a lot more work than I thought it would be! But they hadn't had a proper accountant in the office for about 2 years so no training was provided and no systems were in place.

Hope it all goes well

The CCAinsider

She can't move on in her career until she gets the exams - that has to be her first priority - and if she is working all the hours in practice then she will not have time to study. If she has a non-relevant position in practice then she is also wasting her time - at the early stages of your career the most important things are experience and getting the exams. And if you get good experience the exams are easier!

I agree that she needs to check her contract for claw backs, but if she simply has a hard talk with her manager - "I am leaving if I don't get better experience", then she is likely to be offered better experience (if they have it to offer). There is a huge shortage of accountants and the practice may roll over just to keep her.

industry can offer great experience - my advise is to go for it if the industry job will provide you with good varied and relevant work experience Try and keep the job changes to less than 1 in every 2 years (but it is not fatal to a career to occasionally break this rule) and don't worry about the money, worry about the experience and exposure you will get. At this stage if you can live on the salary - then salary is not relevant. A bit of pain now for better prospects later on.