Recently Qualified, What next?
Author:
Karin Lanigan
It is a great achievement to have qualified as a Chartered Accountant and to have reached this first major milestone in your career. You can be very proud of your progress to date. However, there is no room for complacency in a highly competitive market. You need to take control of your own career and future now. You must be strategic and entrepreneurial and plan each step with foresight and vision.
Your first job move following qualification is critical as it can define the direction of your entire career. The decisions you make now can impact on your future for many years to come. It is vital that you invest time in assessing your options. Do not rush any major decisions.
Take Stock
You need to conduct a critical appraisal of your skillset. Analyse and assess your experience, your likes and dislikes, your strengths and weaknesses as well as your achievements to date. Identify any common trends running through these details. You should then use this information to help you to build an overview of which areas are most suited to you and which you are most likely to enjoy. Job satisfaction is essential to us all as we spend so much of our lives in work. It will also drive and motivate you to achieve further and to excel in your career.
To Change Or Not To Change?
Before you decide to move jobs you must first confirm that a change is warranted. If you really enjoy your current role you may not need to change. In this instance it is advisable to explore the options with your current employer to assess what future career plans they have in mind for you. Researching the career path travelled by others in the organisation will give you a sound understanding of your possible options. Be clear on what you want and discuss this with your manager to map out your future career path. This should be done before you look outside the organisation to ensure that you are making an informed decision. This approach will also stand to you as your current employer will see you are willing to learn and want to advance. It will demonstrate your commitment to your career and the company.
Your Future CV
Taking time to envisage where you would like to be and what achievements you would like to have made within a certain timeframe of one, three or five years can help you to decide between the options available. Try to imagine how you would like your future CV to read. This will help you to formulate a plan to achieving this goal. If you have a particular direction or role in mind speak to a colleague, friend, acquaintance or fellow ICAI member who may be currently in a similar role. Seek their advice and direction as to how best to approach the career ladder in this area. They will have the experience and track record to act as your mentor.
Career Sustainability
The path that you choose has to make sense and must be capable of providing you with a sustainable career. With this in mind you should consider the current and potential future job and employment opportunities. You should be aware of the emerging sectors of the economy both in Ireland and internationally and those that are in decline. You should use your commercial and business acumen to help you decide where the long term opportunities will be. A general awareness of initiatives such as those supported by the government, semi state or large corporates can help you to identify potential growth sectors and locations for the future.
Location, Location,Location
Location can be an important factor when deciding on the direction of your career. You must consider that your chosen career path may dictate where you will be based. Research the jobs market in your chosen location to ensure that you can sustain your role and chosen career in this area. If you are not sure where you would ultimately like to be based, keeping your experience as broad and general as possible is your best option. This will provide you with the mobility you may require at a later stage.
Earning Potential
As part of your decision-making process you will also need to consider the earning potential and the impact your decisions will have on your financial wellbeing. Research the market and review reliable and recognised sources for salary survey information. Be aware of the general level of bonus payments and benefits packages including the value attaching to health insurance, pension contributions and additional training or educational support. Do not base your decision purely on salary but consider the long-term career potential.
Upskilling andDevelopment
This is also an opportune time to identify what further training and education you may require to help you to achieve your overall career goals. You may need assistance to up-skill in certain areas such as communication skills, business writing or negotiation skills. The CPD/Life Long Learning function within ICAI can provide you with direction in this area. They can help you choose the courses that best suit your individual needs.
The International Option
An option that many newly qualified ACAs consider is travelling to Australia. It can be very rewarding both in terms of satiating your appetite for travel as well as serving to enhance your CV by gaining international experience. The jobs market in Australia is vast with accountants currently in strong demand across all sectors in the major cities. The ICAI Careers Advisory and Placement Service has developed strategic links with recruitment partners in Australia and can provide you with the advice and contacts you need in advance of travelling. A recent change in the visa regulations means that you can work for a period of six months in a contract role rather than for just three months, as was previously the case. This will allow you to gain more consistent experience. Travelling will also help you to gain a new perspective and to broaden your horizons. It will also help you when deciding the ultimate direction of your career.
Entering The Jobs Market
The jobs market can be very confusing with a large volume of opportunities currently on offer. It can be challenging to identify what the best options are for you. To make a strategic decision you need first to have gathered all the facts. With this in mind ICAI Young Professionals group will host a careers evening in November to facilitate the exchange of information and advice. This will provide you with invaluable information during this transitional time, in a completely non intrusive manner.
Your Route To Market
Preparing your strategy for presenting your details to the market is crucial. Your approach should be targeted and structured. Do not flood the market with your CV as it will be difficult to track and can make you appear unfocused and lacking in professionalism. The ICAI Careers Advisory and Placement Service is there to help you with impartial advice to navigate the market. It will also provide you with access to some of the best opportunities available.
Presenting Yourself To The Market
Present yourself in the most professional manner possible. This process will start with your CV. Your CV should be written in a clear and concise manner with the purpose of securing an interview. It should be tailored to suit the role for which you are applying and should sell the relevance of your experience for that role. Always run a spell-check (select British English) to ensure there are no errors as these could eliminate you from the process immediately. Watch out for words with different meanings, e.g. complement/compliment, asspell-check will not pick up on the misuse of these.
Track all your applications to ensure you know where your CV has been submitted. Follow up on all outstanding applications. Always know where your CV has been sent, especially when third parties are submitting applications on your behalf.
Online applications can prove to be a challenge. Take your time when submitting your CV online and be sure to complete all stages of the process. Only submit your application once to a role as numerous applications will make you appear unprofessional.
Your cover letter will be your introduction to a potential employer. Ensure that it is professional, concise and interesting. It should be a summary of your suitability for the role and should also express your interest in the position.
Interview Advice
The secret to performing well in an interview is preparation. This will help to alleviate any nerves and ensure that you perform to the best of your ability. Seeking a willing volunteer to conduct a role play in advance of the interview can help enormously. Prepare answers to likely questions prior to the interview and rehearse these. Know about the company and be familiar with the job specification. You should be able to establish links between it and your experience.
You should have an intimate knowledge of your CV and be able to articulate all aspects of your experience. Be prepared to give examples to elaborate further when necessary.
Have relevant questions ready in advance that demonstrate your interest in the company and the role. The inter ¬view is a two way process. You need to learn about the role and company too so that you can make an informed decision should you be successful.
Do not forget the fundamentals such as professional appearance, a strong handshake, and eye contact.
Job Offers
The ability to analyse job offers is crucial. Do not base your decision purely on the financial elements of the offer. Although this is obviously important you also need to consider the role and the experience you are likely to gain, the company, the training provided and the potential career prospects with the role. An effective method to use when comparing numerous offers is to write down the pros and cons of each. This will help you to think through each one clearly and draw comparisons. Seek the advice of other professionals, colleagues, friends and family. Take your time and do not feel pressurised. Be mindful of what your instincts and gut feeling are telling you.
Making what could be the most crucial decision of your career is certainly a challenge. However, by using commonsense, a defined strategy and by calling on the resources at your disposal you can make the process a more effective and rewarding one. Armed with a well recognised qualification and experience, in a robust employment market there are unprecedented opportunities waiting for you. You can look forward to an exciting, dynamic and rewarding career whatever route you choose.