The benefits of working in an accountancy practice
Accounting has long been perceived as a stable career choice for many. After all, there will always be a need for such services, whether from self-employed individuals right through to large multi-national corporations.
There’s often a clear career path and great opportunities for speedy role progression, while salaries are very competitive according to 2018 statistics from payscale.com.
The problem we are finding currently, however, is that job seekers in the sector tend to want roles in industry rather than practices. There are, of course, pros and cons to both, but having recruited for Accounting & Finance roles for over 30 years, I wanted to share my 6 reasons why working in an accountancy firm is a good choice for both trainees and newly qualified accountants.
Regardless of whether a practice specialises in a certain industry or accounting field, you are more likely to be working on different accounts and across a range of accounting disciplines.
It’s a great way of injecting some variety and diversity into what can sometimes be seen as a mundane role. More often than not, you’ll also have the choice to move around departments.
Working in industry rarely gives you the opportunity to interact and work with other people. You’re often dealing with the same key stakeholders or members of your team, whereas within accounting firms, you’ll be in constant communication with clients.
Study support is key for those just starting out in accounting and working within firms can be one of the fastest routes to role progression.
But, experienced professionals should not disregard the added benefits of being surrounded by other accounting professionals too. Everyone has different skillsets and ways of crunching the numbers or carrying out audits, for example, so you’ll always be in good company.
Your impact is two-fold
Not only are you working to save your client money, but you’re also playing a key role in generating the firm revenue. This can really enhance your job satisfaction and give you a real sense of achievement that is hard to come by in industry.
With experience and variety, you can very quickly work your way up to Partner level in an accountancy practice and earn a very generous salary and potentially a percentage of the profits.
Work life balance
It’s not always guaranteed, but being part of an accountancy firm rather than working in industry alone or in a small team means there’s always the option to spread the workload and share the pressure. So while salaries may seem more attractive in industry, that may not be the case when you calculate how many late nights you could be working.