It's not about the money, money, money...

Salary increases are usually one of the first considerations when an Accountant thinks of moving from practice into industry.  However, as we spend so much of our lives at work, it is important to take a well-rounded view of the situation before making that move.

You’re not alone
You won’t be alone if you’re currently considering making a move from a practice environment into commerce or industry.  Last year, specialist recruiters, Careers in Audit, conducted a global survey with 1,701 Chartered Accountant and Auditor candidates responding:

• 48.2% preferred industry to practice
• 33.3% preferred practice
• 8.6% wanted to set up their own business
• 9.9% wanted a complete change of career

Look before you leap
Before making the leap, especially if your main motivation is the salary on offer, here are some things that you should consider - because there really are some things that money can’t buy.  As well as the salary and benefits package on offer you need to think about any pros, cons and what will ultimately serve your long terms plans, and personality, best

Where to start before succumbing to the lure of shiny offices and bigger pay packets:

• Industry and commerce can often be less a collegiate and supportive environment - are you the type of person who works well without the support of similarly qualified, educated and experienced people around you?
• Will you miss the variety of dealing with multiple clients or would you prefer a role where you can focus on core areas of a business and have more continuity?
• Do you enjoy the technical aspects of your role or would you prefer more elements of an operational role?
• Is short-term income level more important than your long term salary level?
• Are stability and security major deciding factors for you?  While it is not unknown for Chartered practices to make redundancies, it is a far rarer occurrence than within the commercial world.
• How risk averse are you?  Other than the stability and security factor it can be difficult to return to a practice environment once you’ve worked in industry for any length of time.

Should I stay or should I go
If you still think you need a move, answering these questions should allow you to gain some insight into whether you actually want a move away from your current firm and practice completely, or into industry or commerce.

Whatever the case, if you’re still considering a move, call us now to see how we might be able to help you with the transition.  Ask for Jon on 01902 717581.

Read previous blog - Exclusively Yours: how to get the best out of your recruiter

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