Would you trade salary over career development opportunities?

The results from our LinkedIn poll highlighted most accountancy professionals would select a new role that offered them a wealth of career development opportunities over a significant salary increase.

It is refreshing to see that accountants have a focus on their long-term career strategy, developing both professionally and personally over seeking immediate financial reward. Naturally as you move up the career ladder financial remuneration will grow but firstly, you need to develop the required skills to progress.

Why can salary be detrimental to your career?

The current recruitment market has seen significant increases to salaries as well as signing on bonuses (at all levels). Money is an obvious draw to a new job but there is a honeymoon period that will ultimately come to an end. You then have the realisation of what life is really like in your new role.

A salary will encourage you to select one firm over another. What it doesn’t do is provide you with an insight into what life is like to work in that business, the culture and nature of work.

This may sway you in the wrong direction with regard to achieving your long-term career ambitions.

The current market conditions heighten the risk of over inflated packages at certain levels and tiers within the accountancy industry. This could lead you to be unattractive to firms when you look to make a move in the future.

Firstly, your salary expectations won’t be in line with the market in years to come. You risk pricing yourself out of a move and become.

Secondly, you lack the skills and experience required to make the next step up. You have chosen a firm based on the financial reward and not invested in your career development that will pay dividends in the future. You don’t have a skill set that is attractive to the market.

Future proof for success

Focusing your attention on what a role and firm will offer you which will enable you to achieve your ultimate career ambitions is important when looking to make a move.

Planning 2 or even 3 moves ahead, 5 – 10 years in the future, will sharpen your focus on the present situation, helping you to select an opportunity that will help you get the next role.

It is important to remember, you need to be attractive to a prospective employer, this boils down to skills, experience, and network. You need to be at the right firm that will allow you to develop in all of these areas.

As a result, salary and financial rewards become a by-product of growing as a professional and scaling the ladder toward your goal.