Dear Job Doctor,

I am a qualified ACCA for 17 yrs and have been working for an accountancy firm for over 10 years in a tax role. I would like to change job to broaden my experience. I am thinking of moving to industry. Would it be difficult for me to move after all these years or is it better to stick with public practice?

Thanks

Dear Job Doctor,

I previously posted on your forum about 2 years ago. At the time I was not yet ACA qualified and stuck in the assurance division. Fast forward to now, I am now ACA qualified and have moved into the corporate finance (valuations) team at a big 4. I undertook the CFA level 1 exam last year but unfortunately did not pass. I am currently considering my future career paths. What options are available?I have looked at moving into the M&A sector but the hours appear long despite the lure of high payI have also considered pursuing an equity analyst role with a view to becoming a funds manager a fair way down the trackTraditionally where would a big 4 valuations person go? Would it be an easier transition to move into M&A or down the funds path?

Thanks,

Ben

Gaining experience after graduation

Anonymous wrote:

Dear Job Doctor,

I am a business studies student at the university of kent. Currently I am on a gap year from uni and about to undertake some unpaid work experience with a small accountancy firm. I wanted some advice about what exams I should take after I graduate to became an accountant, what would be the best route for me?


Adam Wheeler, a Consultant from WH Marks Sattin replied:

Depending which route you want to take, there are a couple of options open to you.
First of all there is the ACA (ICAEW or ICAS accredited) qualification. This is by far and way the most prestigious accounting and general business qualification available in the UK. Then there is the ACCA route which is another accounting qualification available to study for. You can study this anywhere in the world and although the ACA is seen as superior in the UK, other countries recognise the ACCA as well. Or if you are looking to specialise in tax, the ATT and CTA route is the way forward for you. These qualifications are tax specific and should be sought after if tax is the career you are looking for.

If you would like some additional information or a chat, please do not hesitate to contact Adam Wheeler on 0207 321 5000

How can I get support to study for CFA?

Anonymous wrote:

"Hi,

I am on the verge of finishing my CIMA exams with only my case study remaining. I am keen to study CFA after finishing my CIMA studies. However, I have had two years of experience within retail. I am intending to gain another years of experience to sign off my experince but then shortly change industry. Is it still possible for me to be able to transfer industries inorder to be given study support for CFA? Would it be more appropriate to attain an accountancy position within an investment bank/fund investment company and then transfer internally? What could my difference in career path look like in 3 years time if I was to remain as an accountant as oppossed to pursuing with CFA? Do you think adding CFA to my existing CIMA qualification could enhance my future career? "

Elan Diamond a Manager from WH Marks Sattin replied:

"You are unlikely to receive study support for CFA unless your role is directly relevent to it. If you move as a "newly qualified CIMA", you might be able to negotiate it as part of your package (again, if relevent to your role). The career path you follow depends extensively on the experience that you have gained - As you can probably appreciate there are a number of specific questions that can only be answered when I have a better understanding of your background etc. I am happy to be specific and discuss this in more detail if appropriate - please give me a call on 0207 321 5000

All the best

WH Marks Sattin"

How do I make myself appealing for Investment Banking roles?

Dear Job Doctor,

I am a newly qualified CA and CTA frmo a Big4 firm. I have been based in a tax function for a little under 4yrs but am now looking to move into an IB. The roles I have been shown so far are predominantly PC and BA roles. My question is this: is it possible for someone with my qualifications and experience to get into trading/sales within an IB? If not, how would I go about making myself more appealing for such roles?

Many thanks.


Elan Diamond, a Manager from WH Marks Sattin replied:

Is it possible? Yes. However, you may find it a considerably harder to secure a position as this is incredibly popular and competitive area to get into. You will find that the main concern of many employers' is your commitment to this field. They will see that you have spent 3 years obtaining an accounting qualification , and question why you didn't join a training scheme with a bank within sales and trading when you first graduated. You will also need to think about your current salary expectations, as you will probably need to take a cut in salary to compete with the graduates all vying for similar sales and trading roles.

If you do have any additional questions,or would just like an informal chat please give me a call on 020 7321 5000

The value of a professional qualification (ACCA/CIMA) combined with experience

Dear Job Doctor,

I am 42 and and I have been working for an oil producing company in Middle East for the last 18 years. I started at clerical level and presently work as Senior Accounts Officer. I have reached the glass ceiling and further career progress in this company is not possible due to political/demographic reasons. I completed an MBA (Finance) program last year. I want to attain higher positions and responsibilities. Is my education and experience sufficient to get me to managerial level positions in oil industry? Should i try to attain other professional qualification like ACCA? Would it add enough value to my career prospects at this stage?

Thanks



A consultant in WH Marks Sattin's Commerce & Industry team replied:

A professional qualification (ACCA/CIMA) would add value to your CV - especially if you're looking for UK opportunities. 18 years experience within the oil industry is invaluable - so naturally your knowledge will be very attractive to this industry. With the market still so competitive, a professional accountancy qualification will undoubtedly make you more marketable as a candidate. This combined with your industry knowledge will definitely make your CV stronger.

All the best,
WH Marks Sattin

Click here for the latest Commerce & Industry jobs

At which level would a newly qualified ACA slot in within investment banking?

Anonymous wrote

Dear Job Doctor,

You mentioned in an earlier blog that the best time to move across to banking as a newly qualified ACA is pretty much directly upon qualification. At which level would a newly qualified ACA slot in within investment banking? As an analyst or an associate?

Thanks for all your help.


A senior consultant in WH Marks Sattin's Financial Services team replied

The level a newly qualified ACA comes into an investment banking team at can vary somewhat between banks, whilst the perceived strength of the candidate can also be taken into account. Generally most will come in at either a senior analyst or first year associate level. Some banks prefer to offer an analyst position with promotion to associate after 12 months to allow time to 'bed in' to their new surroundings in investment banking, others prefer to bring the ACAs on at an associate level with a 'sink or swim' mentality to push them to excel in their first year. Either way, it's a big change from accountancy so the best advice is to only move to a bank where you think there is a good chance you will excel in your first 12 months.

All the best

WH Marks Sattin


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Best time to move from accounancy practice to banking/private equity

Anonymous wrote

When is the best time to make the career move from accountancy practice to banking/private equity?

Is it immediately after qualifying or after promotion to manager?

Many thanks


A consultant in WH Marks Sattin's Private Equity team replied

I would suggest immediately after qualifying, as more companies look for a newly qualified accountant who they can mould themselves, rather than an experienced manager. If you are set on a career move into banking or private equity you need to be ready to move as soon as you qualify if you want to pick up the best roles.

All the best

WH Marks Sattin


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Pursuing a career in practice with a CIMA qualification

Anonymous wrote

Hi,

I am a newly qualified CIMA member and have gained 5 years pre qualified experience working in the Pharmaceutical industry. I would really like to pursue a career in practice with a long term view to run my own practice.

How likely am i to be able to get a job working in an accountancy firm if i am CIMA qualified and not ACA or ACCA qualified?

Thank you


A consultant in WH Marks Sattin's Practice Division replied

Thank you for your enquiry.

The market is very competitive at the moment and it is client driven. Clients are looking for perfect matches for their roles and for candidates with strong transferable skills or who have worked in similar environments. It is difficult for candidates to get roles in practice if they have worked in industry for 2 years or more. I think you will find it difficult but it is definitely worth a try.

If you want advice on how best to put together your CV please give me a call on 0207 747 9754.

Regards

Ewa
WH Marks Sattin


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Completing ACA qualification with the Big 4

Anonymous wrote

Hi,

I currently work in audit for a top 20 accountancy firm and have recently become part qualified. Is there any chance for me to find a role in audit in one of the Big 4 and complete my ACA qualification there?


A Consultant at WH Marks Sattin responded

Congratulations on becoming Part Qualified. Unfortunately at the moment it is really hard to move from a top 20 to a Big 4 at that level. The Big 4 have had a recruitment freeze on for most of their departments for the last year. If you are really interested I would recommend giving the recruitment team a call direct and discussing your chances. I would not submit your CV as it could hinder your chances of getting a role once the market picks up.

If you have any questions please call me on 0207 747 9754 or email me on ewa.stefanska@whmarkssattin.com

Best of luck

WH Marks Sattin


Click to see the latest Practice jobs

ACA qualified Big 4 candidate to private equity / fund management role?

Anonymous wrote

What career options would a transaction services ACA qualified Big 4 candidate have in the job market? Is a move to private equity/fund management a possibility?


A senior consultant at WH Marks Sattin replied

In previous years there were a number of possibilities for newly qualified ACAs within Corporate Finance and Private Equity. In fact, many years ago our Front Office team here at WH Marks Sattin was started to do just that - moving the best ACAs into M&A, Equity Research and Private Equity roles. Unfortunately, during the past 18 months similar opportunities for ACAs have all but dried up due to there being fewer roles and more available candidates with experience in these areas in the market.

However, over the past month or so, we've seen requests for ACA qualified candidates from some of the corporate finance boutiques but these are only open for the very best ACAs. Clients know it's still a buyer's market so are only asking to see the strongest ACA candidates meaning that exceptional academics first time passes and experience in corporate finance (preferably) or transaction services teams at the top firms are a must to even secure an interview.

Having qualified in Transaction Services in the Big 4 you certainly stand a chance of securing interviews for these roles, but we would need to review your full background before giving more detailed feedback as competition is extremely tough. We've found that roles in Private Equity or Fund Management are currently not open to newly qualified ACAs but a move into a good corporate finance boutique or one of the banks would give you a better chance of moving to the buy side once hiring in these areas picks up.

All the best

WH Marks Sattin


If you are an exam qualified, about to qualify, or a recently qualified CA or ACA exploring your career options and need some frank advice, why not come along to our ACA career evening in October ? Contact us at acacareerevening.uk@whmarkssattin.com for more information.

Click here to visit our ACA accounting jobs mini site

Accounting opportunities in commerce & industry

Anonymous wrote

Hi

I currently work in the Transactions advisory/services arm of one of the Big 4, having previously been Big 4 ACA qualified with good academics supporting these. I am now not at all keen to pursue a career further into the M&A/IB side of things. I was wondering what realistic options would be open to me in Commerce & industry that would not let the financial analytical skills and acumen developed in Transaction Services go to waste?


A consultant at WH Marks Sattin replied

There are a number of avenues open to you within commerce & industry which would enable you to draw upon the more analytical skills developed post-qualifying. There are a few in-house corporate finance roles within large FTSE businesses but these are often very rare and highly competitive. Financial Analyst roles are more likely to become available to you but are probably the most sought after roles we deal with. These roles often work in commercial finance teams separate of core finance involving a large amount of financial modelling and the building of business cases. If you would like to hear what current opportunities may be open to you please send your CV to richard.swain@whmarkssattin.com.

Best of luck

WH Marks Sattin


Click for accounting jobs in commerce & industry

Should I turn down a job offer or wait to interview for another role?

Anonymous wrote:

Hi,

I have recently been offered an ACA training contract at a top 50 accountancy firm, and will be working on not-for-profit audit where this firm is pretty specialist and have clients ranging from large, well-known, international aid agencies down to smaller religious orders. At the same time I also have a final interview for an ACA trainee role at a top 5 accountancy firm based regionally (unlike the previous role which is based in London).

My problem is that I have decide whether or not to take the first role before I have the opportunity to go to the latter final interview. First of all do you think its sensible in this current economic climate to turn down the first role for the interview at the latter role, even though it is possible I may not get the job, and I would be quite happy training at the first firm. My only fear in taking the first role is for the longevity of my CV; or is this thought ridiculous. And secondly given that I get 1st time passes in my ACA, and with my current academics of having a 2:1 undergraduate masters of science in a physical science subject from a top 5 UK university, A-levels of 320 UCAS points, and non-financial work experience at a FTSE 100 company; would my work experience in not-for-profit audit hinder one of my possible aspirations of moving into a commercial/industry role as a business analyst/financial controller after qualification. I was thinking specifically on the latter note, that a move to the big 4 after qualification might help with these objectives, are upwards moves like this feasible with work experience from the first role.

Many Thanks


A consultant at WH Marks Sattin replied:

I think in the current market it is not advisable to turn jobs down. If at all possible try and drag out the process a little bit with the first firm and inform the Big 4 company about your situation and see if they can bring the meeting forward. Until the contract is signed you can still change your mind.

Normally it is quite easy as long as you have first time passes to move from a smaller firm to a Big 4 environment or even a top 7 firm will still give you access to the larger firms. At the moment it is a bit tough but in three years time these moves should be easy to do again.

All the best regardless of which decision you make

WH Marks Sattin


Click to see our latest practice accountancy jobs

Part qualified to Big 4

Anonymous wrote:

Hi Job Doctor,

I'm currently a part qualified ACA, with the view of qualifying by the end of 2009. Unfortunately, I do not have first time passes, with 2 retakes in professional stage and obtained a 2:2 at university.

I'm training with a small local 6 partner firm, and would like to move on to one of the Big 4 (Advisory - Corporate Finance/Forensic/Restructuring) in London once I qualify. What are my chances of potentially getting a job with them, especially with the current economic climate?

Would my experience in a small firm hinder my chances, would I increase my chances if I opt for other areas i.e. Audit instead?

Thank you!


An Associate Director at WH Marks Sattin replied:

In a word this will be a tough. The main reasons is that, in the current climate, the Big 4 are making redundancies rather than hiring at your level . Their grad schemes are still firing but at the newly qualified level the number of vacancies are down.

You mentioned that you would like to get into corporate recovery and Forensics however if you do not currently work in this area this will be really hard to get into as, while firms are recruiting in this area, they are looking for people with this experience, exceptional academics or looking to move people internally/from other top 4 firms.

There is good news though, when the economic climate improves the Big 4 will need to look outside the current parameters and start interviewing people from smaller practices. For this reason your logical next step will be to move up the food chain somewhat. After qualification you should look at some larger firms, 20 partners plus, to gain experience in dealing with bigger clients and different issues that will act as stepping stones towards your ultimate goal.

All the best

WH Marks Sattin


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ACCA relocating to Britain

Anonymous wrote:

Hello, I am ACCA since 1999, and have completed my MBA at INSEAD in December 2008. I am eligible for the UK work permit under Tier 1 scheme, even without a job offer.

I have over 12 years of experience in finance and accounting in Former Soviet Union countries in top international industrial companies. I would like to relocate to Britain - what do you recommend me in terms of job search? Who should I contact and should I first move to Britain and then start a job search?

Thank you.


A director in WH Marks Sattin's Commerce and Industry division replied

There are currently opportunities in London for candidates with your experience. The opportunities are generally within the oil & gas sector, many of which are with Russian businesses based in London. There could also be interest from FTSE 250 companies who have operations in the same region.

The best thing to do is send your CV through to us so that we can see exactly what sort of experience you have and therefore provide you with the best advice. We generally advise candidates to find out as much information as possible about potential opportunities prior to relocating to another country.

To contact us or send your CV, email commerce.uk@whmarkssattin.com or call +44 207 321 5000

Best of luck

WH Marks Sattin


Click for current commerce and industry accounting jobs

Getting into financial services

Anonymous wrote:

I have recently been made redundant from my post in a 4 partner firm of accountants. I have 18 months of management accounting exposure in my first major accountancy role (NHS foundation trust) as well as 18 months of audit, accounts preparation, group accounts, sole practitioner and parnership accounts, as well as book-keeping from my most recent role.

Clients I have worked on have had turnovers up to £26m. From working with a variety of clients I had exposure to a wide range of accountancy/reporting packages.I am now trying to break into financial services as an analyst, management accountant or financial accountant. I am also 2 exams away from being ACCA part qualified, and have a 2.1 Bsc in Economics.

Simply, how do i get into this industry given my experience to date?


A senior manager in WH Marks Sattin's financial services team replied:

Breaking into financial services at a part qualified level is usually possible and most companies will be quite open to background, so long as you display the right personable qualities and can demonstrate tangible reasons for wanting to move into financial services. Roles vary but we often place a lot of part qualified people into financial or fund accounting roles with a range of companies from banks to small private equity firms and fund administrators.

At the moment the volume of part qualified roles has dropped off considerably as budgets have tightened and financial markets have contracted. The best advice we can give is to keep checking our website for opportunities but your background is not uncommon and provided you are determined enough and can present well at interview, moving into financial services without direct industry experience isn't as difficult as you might think.

Best of luck

WH Marks Sattin


Click for current financial services jobs

Getting a job in corporate finance

Anonymous wrote:

Hi

I am currently working for wholesale insurance brokerage where i am a Business Development Manager. My qualifications include a Degree in Informatics and am currently studying towards the SII Diploma in CF.

My intentions are to join an insurer/bank working within FIG. Would i be able to land a position in CF given my current profile?


An associate director at WH Marks Sattin replied

Firstly you are doing all the right things in equipping yourself with the best skill set to try and make the transition to a CF role. Also you are in a strong position in the current role you have, which although not a direct hunting ground for corporate financiers, is somewhat deal led and you also have the security of continuing professional development. However, would you be able to get a FIG CF position with your current profile? - most likely not in this market. The key reason for this is the pure volume of experienced FIG M&A bankers from the investment banks that are currently on the market. You would need to find an employer that would see the potential in you rather than take the simple option of hiring a proven banker.

Most likely if options were presented you may need to come in at a more junior level. I would suggest you send a full version of your CV to corporatefinace.uk@whmarkssattin.com for our team to review in more detail and come back to you.

Best of luck

WH Marks Sattin


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A career change into accounting

Anonymous wrote

Hi

I am currently working in Retail banking, more of customer service and sales oriented role. I am looking for a career change to accounting. Infact I am planning to under take ACCA course. However, one of my friend have advised to find a job with some accounting firm as it will help me. I have tried with couple of accounting firm but all reponses are negative. What should i do, What positions should I apply.

Please help.

Regards


An Associate Director at WH Marks Sattin replied

Your friend has indeed offered you the best advice. If you are planning to make a career change then joining an accounting firm whilst training would be the best route. There is no alternative at the moment other than to continue applying to all the different firms - do not limit yourself to just the Big 4 there are plenty of smaller accounting firms out there. Alternatively many financial services and industry employers would possibly take you on as a junior book keeper/trainee accountant and support your studies. However in the current market with only sales skills and no accounting background so far you really will need to go in at the entry level. Good luck in securing a new role that will support your training and qualification, under taking the ACCA off your own back in the meantime will show commitment.

Best of luck

WH Marks Sattin

Concerned about poor A-Level results

Anonymous wrote

Hi

I am currently working for one of the big 4 accounting firms in Financial services audit. I have completed all my ACCA exams with first time passes and will time qualify in the next few months. I also have a first class honours degree in accounting and finance. However my A levels are poor and thats what I am worried about. After qualification, my next aim is to get into a back office position in something like the hedge fund industry. Do you think having poor A levels will mean that I have no chance for such positions and in general do employers look at A levels once you have a professional qualification.

Any advice would be much appreciated.


An Associate Director at WH Marks Sattin replied

From the sounds of your proactively in assessing your career options now and the clear focus you've applied to your academics and career post A-level, most employers will be re-assured and satisfied by this. As a qualified accountant with ambitions for a career in the back office then you should be reassured that you sound like you have all the qualities needed to make this move as an ACCA. However, the hedge fund industry is notoriously competitive, and this sector more than most do place emphasis on continuous academic excellence or industry experience of the buy side in your audit clients. Equally there is the additional challenge of the general market conditions, and if you are competing against a number of candidates then this could be a deciding factor in the current economy. My advice would be to pursue your ambitions, however remain flexible. A career in the back office is well within your grasp, however make sure that you are also considering all financial services and accounting options and not just limiting yourself to the world of hedge funds.

Best of luck

WH Marks Sattin


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Financial roles in the Middle East

Kamran wrote

With reference to the current economic conditions specifically in UK, I am looking to expand my search to the Persian Gulf countries. I speak both English & Farsi (Persian) fluently and have some understanding of Arabic with commitment and ability to learn further. With 23 years experience in the Financial Services industry and more specifically in sales and sales management, I am looking for a reputable organisation with solid back ground.

My experience covers areas such as; Daily sales activity & management, Dealing with Clients of all different financial and ethnic back ground, Compliance and delivering regulatory requirements, Setting targets on personal and cooperate objectives, Delivering training meetings and seminars, Ability to communicate with people at both local and cooperate level, etc.I would be most grateful, if you could advise on the best way forward in achieving my objective.With that in mind, I look forward to hearing from you and if I can provide you with any further information, please don’t hesitate to contact me.

The Regional Manager of WH Marks Sattin Dubai replied

Economic conditions in the Arabian Gulf are also alot poorer than last year, albeit more due to an uncertainty on trading conditions and a lack of transparency in eg the banking market, rather than a lack of potential for the Gulf economies. GCC economies are forecast to grow at around 3.5% this year, about the same growth rate as the UK at the height of the 2006 boom, so there is potential.

We are not placed to advise on sales related roles in financial services as we focus on technical skills in accountancy, corporate finance, research and private equity, but my own belief is that your chances in the short term are not good. Sales people in particular will be selected for prior Gulf experience, and there are plenty on the market in the short term. In the medium term there is a large pipeline of IPO and sukuk (Islamic Bond) issues waiting for the markets to stabilise before they are launched on the markets and these will all happen at once. Demand for ECM and DCM sales may grow rapidly in circa June - September, and if you have specific product experience you may stand a good chance of getting a decent role, though not through us sadly.


Accountancy jobs in the Middle East