Getting your FAE results? So what now?
19th November 2015
After 3 years of Exams, late nights of study and countless weekends of classes, there is light at the end of the tunnel.
So what’s next for you once you get your results and become a newly Qualified Chartered Accountant?Rise up the ladder in practice
An Accountant once said to me that he felt the 2 years PQE he gained in practice left him in a stronger position than those who moved directly to industry. Many candidates remain in the firm they trained in so they can Senior again on more of the projects that they’ve already worked on and gain more client-facing exposure. Others will look to make the move from a mid-tier firm to a Top 10 or Big 4 Practice to gain exposure to larger clients, different accountancy principals such as US GAAP, and benefit from a structured career path to Management Level.
Make the move across to Industry
The more popular route for many. With the economy set to grow by between 6-10% in the New Year, both indigenous Irish companies and Multinationals are recruiting in large numbers. At the moment, we regularly see the areas of Internal Audit, Financial Accounting, Finance Management and Financial Reporting Roles as a top priority for clients, with many targeting the newly qualified market as a their candidate pool of choice. While some companies are keen on Big 4 Exposure, many are more flexible and will consider candidates with backgrounds from Top 10 or medium sized practices. If you are in a small practice then there is nothing to stop you moving directly into industry. However, you may have to be a little more patient to get a role which will suit your background.
Travel
Some people see this as the perfect opportunity to take a year out and relax after the 3 and a half years you have put in. There are a couple of options here, you can head straight off when you get your results, or take a contract or temporary role to gain some extra cash and industry experience. There are also plenty of opportunities to take up temporary roles in Australia and Canada – and come back in six months or a year time feeling refreshed and ready to take on your career.
While if things don’t go your way
If the results aren’t what you had hoped for, all is not lost and it’s not the end of the world. There are plenty of opportunities for Part Qualified Accountants both within Industry and Practice. Many choose to give the exams another bash in a year if the current employer will allow it. Practices are always looking for candidates with the hands on experience that your training contract will give you so a move within practice is also an option. While we are seeing more and more industrial clients looking at candidates who have completed their training contract.
We are always here for advice
No matter what happens tomorrow, there are plenty of opportunities available to you – whether the heart be set on industry or practice as a part or newly Qualified Accountant. If you would like to have a chat about opportunities in the market or where your current options lie, feel free to drop me or any of the team a line or give me a call.