As always, accountants and auditors are in high demand for accounting firms.
From speaking with a number of accountants who have or have nearly qualified within an accounting firm, I have found that the majority of them are looking to move straight into industry as soon as they are able.
This is becoming a problem as practice firms are losing their young hires who could have grown within the company and headed towards the partner title.
If you are you still in two minds if you want to leave or stay, here are some points to consider.
Why should you choose practice?
One of the main reasons the accountants wish to leave practice is the work-life balance and the hours expected of them to complete their demanding workload.
If you are a newly qualified accountant, before making the decision to move into industry you might want to consider whether practice really is the problem here or whether it’s your current firm that’s putting you off staying.
After qualifying in a practice firm, moving into industry is always appealing as you will earn more with the potential for an improved benefits package and reduced working hours. However, while the move to industry may better you in the short-term, if you remain in practice you have the potential to work your way up to partner level within a few years and be rewarded with as much as a 6 figure sum salary.
Maybe it’s time to speak to some recruiters and see what other options there are for you within practice? After all, not all practices are run the same!
Why should you choose industry?
If you are a Big Four professional no doubt you are getting inundated with messages about roles in industry as clients are always on the lookout for qualified accountants from the Big Four.
I have spoken with candidates who have made the move from practice to industry and here are some of the top reasons why they moved:
- Your work-life balance will improve
- There are lots of opportunities in industry in a range of sectors
- Everyone is trying to speak with you so you are constantly hearing about new jobs in the market
- You won’t have to manage a large amount of clients so you will be able to spend more time devoted to one client
If you are still undecided and would like more information on the practice vs industry debate, feel free to contact one of our consultants at Hewitson Walker.