Trainee contract with small/medium accountancy firms

martinstacks

Hi all,

I'm a final year commerce student hoping to get a trainee contract with some firm for next year. I didn't get my applications in to the big 4 in time but got a few applications in to the next lot like mazars, RSM, grant thornton. I haven't heard anything from them as yet and was wondering if there is a massive difference as regards salary, study leave etc between all these companies.
Also, if in the event I don't get called for any firm, whats the story with the small small practices? Is it worth holding out and hopefully re-applying after christmas to the bigger companies when my results are out? I expect to get a good 1.1 in taxation, management accounting and financial. Does the fact that i'm a mature student and only got 330 in LC in 2001 make a big difference?

Like what I really want is a bit of piece of mind. I'm imagining the scenario of waking up in september of 2012 with nothing whatsoever. Would there be a contract out there for someone with good university grades, advanced I.T skills and fluent spanish!?

Sorry for the plethora of questions. If ye can answer one or all would be much appreciated.

Cheers!!
:pac:

kennyb3

Hi Martin,

I trained and qualified in a small practice so im biased but to me you ll get a broader base of experience in a small/medium place. However after that it can be hard to work your way up into a big 4/top 10 place (thankfully i never wanted to). A lot of my friends qualified in big 4 places and teh hours they had to do were crazy and the min they all qualified they were off elsewhere. In saying that some people are suited to a bigger organisation and like to work up through them - others are not.

Do you want to do ACCA/ACA or what ?Also have you considered qualifying in industry? I know its hard to do now but you ve got to think about where you see yourself going forward.

Anyway getting back to your prediciment - if you get a 1.1 or 2.1 you ll be more employable. Fluent spanish is a massive asset - this country seriously lacks people with languages - hence i ve no doubt you could get something in industry.

Your LC shouldnt make much odds really as long as your degree is good - employers understand that everybody isnt suited to some of the subjects on the LC. If they see good grades in accounting this will definitely override them.

If you don't get anything from the top 10 or so, around April (or maybe later) you ll see all the small/medium places advertising. I'm ACA so can only speak of these - if you use CARB's website you ll find a pretty much every chartered firm listed and you can check out all their sites for job adverts.

Also if you typr top 20 accountancy firms into google there is an old Bizplus (i think) magazine that gives a list of these firms (quite outdated but it gives a good contact list) and it also gives about 50 firms not far behind these. Might be of use if you arent familiar with the firms.

Anyway its hard to give more advice without more info.

HcksawJimDuggan

Martin,

You'll find a list of contacts for some of the smaller/medium training firms who are taking on trainees at the following link:

http://www.charteredaccountants.ie/Students/Student-Services/Courses/Useful-Downloads/

Excel sheet - training vacancies

martinstacks

Cheers guys thanks. I'm just gonna put my head down now and try and do really well in the christmas exams. I'll be aiming to take the CAI exams as I'll have exemptions from CAP1's with my degree. With ACCA i'd have a few to do of the first set.

I think I would prefer to try and find a firm around galway city due to its proximity to the university as what i've heard the real exams(cap2) will start next year with a circa 30% pass rate!!

Also, do you know if the pay rates between firms, both big and small, vary much? A friend here in uni says that they all pay the same as a difference between them would push all graduates towards one in particular. However, this extract from http://www.charteredaccountants.ie/PageFiles/82556/training%20package%202011.pdf
has me spooked!
-"The Council of the Institute no longer makes recommendations regarding the minimum payment rates for students enrolling with the Institute or increments for exam success. It suggests that the training firms consider local market conditions in order to make their own decisions relating to basic allowances."

I would find it very difficult to be killing myself working and studying just to be earning less than I do working in a pub for the summer!!

Sound

Emperor1989

Be very careful what sort of small practice you try to get work from. Some of them will treat you like a Secretary and even worse from what I have heard.

Be extremely careful, these small place will pay you **** and work you to the bone!