Calling all accountants!

Hi guys,

I am a part-qualified ACCA (4 more to go) working in a big 4. I've got a very generous offer from a well known bank which I find quite attractive financially and work-wise. If I don't finish my qualification in practice and move now (the bank will support my study all the way), will it be disadvantageous to my long-term career prospect? Considering I want to be in banking industry after I become qualified?

Is there anyone who moved out of practice on the way and is doing well in industry? Is 3-4 years' experience in practice definitely worth it long-term?
(Basically partners in the firm are not letting me go as they believe I am making a mistake.)

Please share your views with me..Thank you so much!

It's a tough one. I found my 3 year experience to be worthwhile, but hey, if you are going to qualify anyway and see yourself working in a bank, I would go for it.

How do you think your firm will react? Do they have to 'release' you from your training contract or anything like that?

CCOVICH said:

How do you think your firm will react? Do they have to 'release' you from your training contract or anything like that?

Click to expand...

No, it's up to me really. I already handed in notice but was given some time to reconsider. I've had a couple of meetings with partners/managers and now I am feeling v. confused. They all are trying to make me believe this is a wrong decision.

Why are they saying it is the wrong decision?

You have the benefit of 2(?) years experience in a Big 4.

What role are you moving into in the bank? Does it have pension and profit sharing benefits?

They think once I am qualified in practice I will be in a much better position to choose / demand what I want.
(In their words, I am underselling myself.)

My role will be a financial accounting officer reporting to FC. The bank has pension, medical insurance and 20%+ (gross) bonus.

Your chances of qualifying as an accountant are much higher in practice. They are geared up to study leave and there are others in the same boat as you. There are also more senior people whom you can discuss issues with.

Some employers outside practice have extremely long hours and are much less flexible when it comes to exams and study leave.

However, if want to work in banking, go for it now. 2 years in practice followed by 2 years in banking is more attractive to a future banking employer than 4 years in practice.

Brendan

Thanks for your advice, Brendan.

That's true though - the firm provides 5 days' study leave per paper but the bank 2 days'. However I will be given more holidays that I can top up the study leave and other possible external courses.

Maybe make it a condition of your new job that you will get X days of leave to finish your exams?

I think that is going to be a bit difficult...In the bank, December is the busiest time so I was thinking of taking some time off in the late November or even starting studying v early as the bank provides a distance-learning course for exams...I reckon I can manage?