What should trainee accountants consider when planning the next stage of their career?

Steph Mersh, Accounts & Business Advisory Supervisor at RSM UK and BCASS Chairman, shares her insight into what trainee accountants should consider when approaching qualification and planning the next stages of their career.

First and foremost, do not rush to make a decision as you approach the end of your training contract.

Don’t panic move!

Beginning your career planning as early as possible is the key to gathering all of the relevant information to make an informed decision. Ideally begin planning 6 to 12 months before your exams, allowing you enough time to consider options available to you before the exam stress really kicks in.

It is important to spend time to think about your long terms plans as well as what you would like to do once you have qualified.

Consider what you enjoy about your current role?

It is important to not run off at the first sight of another opportunity that appears to be more exciting and have a nice salary. I suggest that all trainees approaching qualification consider more than their remuneration and the excitement of working somewhere else.

For example, there were 3 people who were in my intake that handed in their notice on results day who are happy in their roles but said that they had experienced a culture shock when they moved and had not considered things like travelling.

I would urge all NQ accountants that are considering a move away from their current firm to weigh up staying against moving. When moving to another accountancy firm or into industry, you have to remember you are moving to a new culture, atmosphere and team.

What are the options?

After reviewing all of my options, I decided to stay with RSM and move service lines from audit to the accounts preparation team.

There are a number of options available to those coming to the end of their training contract –
1. Remain in service line with current firm
2. Change service line within current firm
3. Remain in service line and move to a new firm
4. Change service line and move to a new firm
5. Move to industry
6. Changing location

Everyone should consider the pros and cons of each of the options in order to make an informed decision.

Getting a flavour of what life would be like after completing your training could serve you well. Look to pick up responsibilities and ask for work to be passed down to you rather waiting for it to be handed down will demonstrate that you are committed as well as challenging yourself. This will allow you to see what the future may hold.

It could be worth seeking the opinion of a colleague who is a couple of years ahead of you or if you are considering a move to another service line, seek out someone from that service line for a chat, this will provide you with an impartial account of what you could expect elsewhere in the business.

Another idea could be to speak to friends or contacts who have qualified and now work in industry so that you can see what it is like outside of an accountancy firm.

Get to know a recruitment consultant

For me, one of the most crucial things you can do is to have a conversation with a recruiter with a view towards understanding the market and getting valuable career advice – not simply with a view to be placed. Building a relationship at this stage of your career could be useful for the future too.

Make the most of BCASS

Birmingham Chartered Accountants Student Society represents trainee chartered accountants and is a great source of information and help when it comes to looking at life after qualification.

My advice, as BCASS Chair, is to get as much out of the society as possible during your training contract. It has helped me to develop and learn new skills whilst building a network of contacts outside of my firm.

We provide social and networking events for members to interact with young professionals as well as revision sessions during the lead up to exams. BCASS can help those approaching qualification with building their network of contacts which will benefit you in your future career planning.

It is important for trainee accountants to know what else is out there in terms of help after qualification such as ICAEW West Midlands and BANG.

In Summary

I would urge all trainee accountants approaching qualification to begin looking at their career plan as early as possible, consider all options available and build a relationship with a recruitment consultant that you trust in order to get a full picture of the opportunities around you.