We were delighted to sponsor and attend the YCAG Careers Evening “After Qualification: Career Paths in and out of Accountancy”.

Nik Pratap was on a panel of speakers who all had their own interesting perspectives and gave the thirty attendees a balanced insight into what the future holds – from starting your own Digital Accountancy Form, Corporate Finance, Audit, Digital Change and moving away from accountancy.

In the 25 years since Nik started his career in accountancy with PwC in Sheffield, so much has changed and it is a brilliant time to plan your career in accountancy. Some of the points from his overview;

• There has never been a better time to be a young accountant. There are so many options in practice, industry, public sector or even using your qualification to move into a different career. Even the Prime Minister is an accountant today!
• There has also probably never been a more confusing time to be an accountant.  Employers and recruiters vying for the attention of the candidates, many job adverts and lots of advice online – little of which is balanced. Candidate confidence is high but there are many tough decisions to make.
• There are currently 33,956 live job openings for ACA or ACCA accountants in the UK – according to the REC Labour Market Tracker – the formative guide on this information. We believe that is the highest that this has been and opportunities are growing at a faster rate than every discipline, other than engineering over recent weeks.
• There are 219 live jobs for NQ accountants in South Yorkshire, according to one national website – There is no way that this number is true! Many are old and even more are duplicated. A major obstacle for candidates to overcome
• The range of newly-qualified salaries is now £38,000 to £51,000 with offers at £50,000 happening more frequently ….but not always being accepted. The salary alone is not the only consideration.
• There are so many other material factors that are swinging the decision to move or stay with your employer – hybrid working, flexibility, L&D, Sustainability strategies, wellbeing…the list goes on.

The advice for all newly-qualified is;

1. Take your time to look at your options and look at the future. We are in a candidate-lead market and you have the power. Do not let anyone dictate your timescales
2. Consider staying where you are. Moving is sometimes the wrong choice. Most employees feel uncomfortable discussing a potential move with their line manager, but not always for good reasons
3. Pick one recruiter to build your relationship with. Make sure that they want to meet you and that they are open to give you the right advice about research, setting your expectations, writing your CV and telling you about the right jobs (and not only the ones that they are representing
4. Enjoy the time. You have been through so much to get to where you are now!

It is no coincidence that there are so many job openings for accountants. They are needed more and more – whether that is to manage risk, strengthen governance or make the most adventurous business plans happen, accountants will play a major role in almost every business. You have picked a great career. Now that you are qualified, go on and make even more of a difference.

For a friendly chat and advice about your career in Accountancy please don't hesitate to give us a call on 01924 679841 or email info@pratappartnership.com.