Career path advice - newly qualified

whatawaster

Hey,

I am qualified ACA, trained in a small practice in Dublin (around 10 staff, 1 partner) with almost 5 years experience in that practice.

I'd say it was about:
35% accounts prep
35% audit
10% tax
20% misc (dealing with liquidations of clients, takeovers, company sec compliance etc)

So I had quite a varied training, which I am grateful for, but it got very stale and monotonous towards the end.

Now, back back from 5 months travels, I am at a complete loss about what to do careerwise

I am 100% certain I do not see a future for myself in audit, however, since big 4 experience seems to be so sought after I am thinking I should try and maybe do a year with one of them, just for my CV.

That's fine, but realistically would I have to go into audit if I were to go down the big 4 route? It interests me very little, and I'd much prefer to experience something different, but the problem is that the majority of my training was in audit & accounts preparation.

Things like consulting and in particular corporate finance / transaction services really interest me, but I have only a little experience in these areas.
Would a big 4 firm even look twice at me for such a role? If not, how, besides training with them in the first place, does one break into these other departments?

To summarise, my thoughts on my options are as follows:

1) Audit Big 4 - I would be confident in my ability to get a job here, but it doesn't excite me, in fact the thought bores the hell out of me, but the money would be decent and it would improve my CV.

2) Small/Medium practice - Would be the most familiar role to me, though I'd probably be looking for a role with more responsibilities. I know it's a job I would be good at, and would come easy to me, but I know I have no future in this area, so this would be a last resort.

3) Job in industry as a financial accountant or management accountant - again, I know it's a job I'd be suited to as I had to basically fulfill these duties for clients in the past and my technical accounting knowledge is usually very sound, but it would have to be the right company or, again, the job would bore the hell out me.

4) Fund accounting - there seems to be jobs in this area, but I've no fund accounting experience, I suppose I'd enter at quite a low level and on a fairly low salary. Plus, I HATE fund accounting.

5) Big 4/6/10 - Anything besides audit - would interest me, but do I have enough experience for such roles. How could I really enter, say, PWC, as a senior in Transaction Services, when I'd have less experience in that area than any of the trainees below me?

6) Finance/Financial Services - this is an area I have no experience in, but have a great interest in - Equities/Bonds/Markets etc. I have little knowledge of the jobs market in finance, so I definitely need to do more research.


So my preference is really to break away from auditing, though if it really helped me I suppose I'd suck it up for a year in a big 4 audit department.

What should I do? See a recruitment agent? Consult my magic-8-ball?

Any advice would be gratefully accepted - I really am muddled at the moment.

mikemac

Well done on qualifying, now for a break from your studies

If you want to go down the financial services role have a look at the CFA

Too late now for December exams but they are on again next June

jonnybravo

Hi,

Congrats on passing your exams. I'm just after returning from travelling too after qualifying as an ACA accountant (Big 4). I am starting work soon as a Financial Accountant. For me the reason I'm going down the route as a Financial Accountant is that working in industry is the area I want to be in long term and if I get a year or two working in a general financial accounting role it'll give me a broad experience and there would be a number of options from there.

If I was in your situation I would probably go into the Big 4 audit department for a year to get it onto your CV. Its amazing the amount of Industry jobs that require Big 4 experience and I think long term it would be a good career move for you. I personally wish I had done my training in a small / medium type practice and then gone to Big 4 for a year as I think you get better accounting experience in a small / medium size practice. Of course you would probably get a job straight away in industry but you'd be up against people coming out of the Big 4 so could be difficult depending on what the company is looking for.

In PwC Transaction Services only take Qualified people into the department and there used to be high demand for people trained internally in PwC to transfer so I think it might be difficult to get a job straight away. It might be easier if you had done a year in PwC to then transfer. I'm not sure about other Big 4 firms.

Don't really know anything about FS / Funds except I didn't like it in college so I'm avoiding it. There is a lot of jobs in the area though especially in Banking.

Best of luck with whatever you do!

Mfor

Hi
I would have same advice as last poster. I have 8 yrs PQE and trained in medium sized practice. Have worked in industry since but in small-medium companies. Find it v difficult 2 get in2 larger companies w-o big 4 exp. Also have keen interest in Corp finance but again hard 2 get in2. In hindsight a year in big 4 would have bn good move. Best of luck with ur decision