Career Planning Tips for Chartered Accountants
Author:
Seamas Farrelly
There are practical things you can do to help yourself throughout your career as a Chartered Accountant. Above all it is important to manage your career from the outset, advises Seamas Farrelly.
THE GOOD
On the face of it the announcement of a Financial Services operation setting up in Waterford is great for the whole of the South East of the country. Chartered Accountants, born in the area who, having gone away to college and later trained and qualified in Dublin or Cork, now see this as a golden opportunity to return home and acquire a quality of life not available to them in the bigger cities.
THE BAD
The announcement of the closure of the manufacturer in Donegal with the subsequent loss of 560 jobs shows the vulnerability of the people looking for that same quality of life. The lack of alternatives in the locality must be a concern to all in the North West.
THE UGLY
Unemployment can be hard to accept at anytime but it is particularly bad outside the Greater Dublin area where the vast majority of jobs are to be found. Decisions have to be made as to whether people now have to forsake the concept of quality of life.
MANAGE YOUR CAREER
Chartered Accountants, like everyone else, have realised that there are no jobs for life. The Chartered Accountant of 2005 cannot move to a position in industry and in particular outside of the Greater Dublin area without a career plan. You must assume responsibility for your career at the outset and not expect to stay with any one firm - even at the most senior level - until retirement .
FIVE KEY FACTORS
Amongst the factors you need to consider are:
- Location
It is a cliché but location is very important. And it is not just a question of looking for a suitable job in a particular locality or region. You need to be looking for a career. There are too many instances of Chartered Accountants returning to locations in rural Ireland for a particular job and then having to move back to Dublin within 2 years because there were no careers in
the area.
- Networking
Networking is the key word to consider as the you progress your career. Keep in contact with colleagues, managers and partners from your training firm. In the past many Chartered Accountants moved out of practice to take up positions as Financial Controllers in industry. Over the years they lost contact with their peers in the profession. Then, when the company closed down or merged and the (by then middle aged) Financial Controllers lost their jobs, they found themselves isolated, perhaps with outdated skills, and poorly placed to find new positions. Proper management of your career can go a long way towards preventing this outcome.
- Skills, Options
CAs must continue to assess their options, skills and achievements and remain up to date with current requirements. With mandatory CPD, there is really no excuse for avoiding life long learning. Internet and Broadband facilities have opened up new options and make it possible to do a lot of work from home - an attractive option for many commuters. Increasingly, part time work for one, two or more firms, is another option. Your broad training combined with continuous updating of your skills and knowledge and a flexible approach to work, will help make it possible for you to move from one industry to another and avoid ‘pigeon holing’ yourself.
- Marketing
Learn how to promote yourself effectively. Don’t be afraid to take professional advice when it comes to preparing your CV, brushing up your interview skills and so on.
- CA Qualification
You have the best business qualification there is so remember to remain confident about your qualifications and experience.