What to do after qualifying: Career advice for newly qualified ACA and ICAS Accountants

Deciding what to do after becoming a newly qualified ICAS or ACA Accountant can be daunting. With a number of businesses and options to choose from, making the right decision for your future career within the Finance & Accountancy sector can be overwhelming. 

Here are some of the questions newly qualified Accountants regularly ask us, and our advice for starting on your journey as a Chartered Accountant. 

Being a newly qualified ACA or ICAS Chartered Accountant opens up a substantial number of opportunities across practice, industry, or the public sector - so you need to seek out the best career advice at this crucial time. Businesses of all shapes and sizes are already seeking and employing the best talent on the market, which means it is important that you are well informed and not left behind.

At different periods of the year, we are often inundated with questions seeking advice on market conditions, accounting job opportunities, and guidance on short, medium and long-term career paths, as well as interview techniques offering suggestions on how to secure the right finance job and career of choice. 

With that in mind, we spoke at length to our knowledgeable Finance & Accountancy recruitment team and have compiled the most frequently asked questions, which should help in your decision-making process when it comes to your career options.

I’m a newly qualified Accountant/I'm about to qualify as an Accountant, but I’m worried about making the wrong career choices.

Every year we meet with newly qualified Chartered Accountants who are concerned that their first move post qualification will dictate where their career takes them, but this is simply not the case. Your first few years are all about getting as much experience under your belt as possible until you have a clearer idea of the direction you want to take, broadening the accounting career opportunities available to you in the process.

We would, therefore, advise you to try and get as much post-qualified experience in the first few years as you possibly can. This experience will make your transition as a newly qualified Accountant easier and will make you more attractive to employers for both practice and industry roles.

During this time, you may also want to seek out some specialist sector career advice. There will be finance professionals that work at your firm, or sector experts that will be happy to discuss different career paths and offer you advice on what route might be best suited to you. Soak up all of the information offered to you, it will no doubt prove valuable in the near future. 

I recently qualified as a Chartered Accountant in a practice firm, should I move to industry straight away or bide my time and gain some more experience?

The truth is, there’s no one-size-fits-all answer - it really depends on your career goals and what you want from your next role.

Staying in practice for a bit longer can be a smart move if you’re looking to progress quickly within the firm, build deeper technical expertise, or develop your leadership skills in a structured environment. You’ll likely have the chance to work with a wide variety of clients and take on more responsibility post-qualification, which can strengthen your CV.

On the other hand, moving into industry straight away can offer broader commercial exposure and help you develop a more strategic view of how businesses operate. It’s ideal if you’re interested in roles like FP&A, commercial finance, or business partnering, and want to start building your career in a particular sector.

Ultimately, it comes down to what excites you most. If you’re unsure, speaking with a specialist recruiter can help you weigh up your options based on your skills, interests, and the current market - giving you the clarity to make the right decision at the right time.

However, if you do feel that you have made the wrong decision, it is important not to panic. The crucial thing is to ensure that you get as much experience as possible and try to make the right decision moving forward. Newly qualified Accountants are sought after in the market and, with a reasonable explanation, clients should understand, but you need to be sure that the move is right for you.

The firm I qualified as an Accountant with wasn’t a 'Big Four' firm. How will this affect my job prospects?

Qualifying outside of the Big Four absolutely doesn’t limit your career potential - in fact, it can often be a strength depending on the role or sector you're targeting.

Many employers value the broader exposure and hands-on experience that often comes from training in a smaller or mid-tier firm. You may have worked across a wider client base, had more direct responsibility earlier on, and developed stronger client relationship skills, all of which are highly attractive to hiring managers.

While some roles, particularly in large corporate finance teams or certain advisory positions, may lean towards Big Four backgrounds, the majority of employers care more about your capabilities, attitude, and ability to add value than just the name on your training contract.

If you can demonstrate strong technical knowledge, commercial awareness, and a willingness to learn, your opportunities will be just as strong - if not stronger - in many cases.

What kind of salary can I expect as a newly qualified Accountant?

Your expected salary can vary based on factors such as location, sector, and the size of the organisation. Here's an overview:

London:

• Industry roles: £55,000 to £65,000 per year.

• Practice roles: £55,000 to £68,000 per year.

Regional cities (e.g., Manchester, Birmingham):

• Industry roles: £50,000 to £60,000 per year.

• Practice roles: £50,000 to £60,000 per year.

Smaller towns and rural areas:

• Industry and practice roles: Salaries may be slightly lower, typically ranging from £45,000 to £55,000 per year.

Public sector:

• Salaries for newly qualified Accountants in the public sector generally range from £42,000 to £50,000 per year, often accompanied by benefits such as generous pension schemes and enhanced work-life balance.

Factors influencing salary:

• Location: Major cities, especially London, tend to offer higher salaries due to the increased cost of living.

• Sector: Specialised industries or high-demand sectors may offer premium salaries to attract top talent.

• Experience and skills: Additional certifications, specialised skills, or relevant experience can position you at the higher end of these salary ranges.

It's advisable to consult with a recruitment specialist or refer to detailed salary guides to obtain the most accurate and up-to-date information tailored to your specific circumstances.

Are ACA/ICAS qualified Accountants in short supply?

The UK is currently experiencing a notable shortage of skilled Accountants, including those qualified as ACA (Associate Chartered Accountant) and ICAS (Institute of Chartered Accountants of Scotland). Several factors contribute to this shortfall:

• Increased demand across sectors: The growing complexity of financial regulations and the expanding scope of financial services have heightened the need for qualified accounting professionals in various industries.

• Decline in new entrants: There has been a decrease in the number of students pursuing accounting qualifications. For instance, the Financial Reporting Council reported a 2.2% decline in student numbers from 2016 to 2020, leading to fewer newly qualified accountants entering the profession.

• Career transitions and retirements: A significant number of experienced Accountants have left their roles in recent years, either transitioning to other careers or retiring. 

• Regional disparities: Certain areas, such as Manchester and Nottingham, are experiencing more acute shortages. Research highlighted by the ICAEW revealed that these cities have a particularly low ratio of applicants to accounting roles, intensifying recruitment challenges in these regions.

This shortage presents both challenges and opportunities. For employers, it underscores the importance of developing strategies to attract and retain talent, such as offering competitive salaries, flexible working arrangements, and clear career progression paths. For professionals, particularly newly qualified accountants, the current landscape offers a favourable environment to negotiate roles that align with their career aspirations and personal needs.

If you are unsure of how to go about securing a role, or have any questions around securing a job in a particular sector or business, please feel free to get in touch for a confidential chat with one of our specialist Finance & Accountancy Consultants.

I’ve only ever had one interview and I haven’t updated my CV, can Sellick Partnership help me prepare?

Absolutely we can, in fact it's what we're here for! Interviews can be daunting for everyone, regardless of how much practice you have had. But rest assured, we have been working with accountancy candidates and clients for many years and, as a result, know exactly what organisations are looking for on your CV as a newly qualified Accountant. 

Businesses want to get a feeling for why you are right for the role, so while writing your CV it is important to think about why you are including every bit of information.

Ask yourself whether what you are writing adds value to your application, and be ready to explain why it makes you the right candidate for the job. If you do not think something is relevant, leave it out.

We can also offer you specialist knowledge on tailoring your CV for a particular sector or business. Beyond your CV, we can help with interview tips and preparation, and even handing in your notice to your current employer. 

Our goal is to make the process feel less overwhelming and more empowering — so you can make the move that’s right for you, with support from people who understand your industry inside out.

Practice or industry… what should I choose?

There is no right or wrong answer to this question. This is totally dependent on where you see yourself working in the future or the type of work you want to be doing. For example, if you are looking for a purely technical role, staying in practice at an accounting firm can increase your knowledge of technical reporting such as the International Financial Reporting Standards (IFRS), local Generally Accepted Accounting Principles (GAAPS) and the Sarbanes-Oxley Act (SOX).

Practice also offers the ability to work with multiple clients and become a specialist within certain areas, including tax, audit, and insolvency.

If you are looking to help one business and see the results of the work you put in, industry may be a good choice for you. Taking on an industry role allows you to work on on-going projects and really help to grow a business.

Here is a very brief summary of both paths that may help you with making your decision.

Practice: within practice you will likely follow a very specific career path with a tailored training and development programme. Generally, you will get to choose from a number of areas including audit, tax, corporate finance, outsourced accounts, forensics or insolvency for a range of clients, dependant on the type of practice firm you work for.

Working within a 'Big Four' accountancy practice firm will give you exposure to working with a variety of clients including large multinational companies and PLCs, whereas working for a top 10 or 15 firm will give you more varied experience working for a mix of SMEs alongside the odd multinational firm.

Practice also allows you to work with like-minded individuals who can keep you up-to-date with new legislation and develop your advisory skills, allowing you to continually improve your knowledge and skills throughout your career.

Industry: if you decide to go into industry you will enjoy a varied career, which can offer you exposure to multiple areas of finance and accountancy with the opportunity to explore different roles and add real value to a specific business.

You would manage the company’s finances and be responsible for things like budgeting, cost control, and accounting systems. You could also end up forming part of the management team.

This route is especially suited to candidates who want to work within a singular business and progress quickly. Industry gives you the choice of which size of business you work with from SMEs, large blue-chip and Listed Businesses to Private Equity backed firms and Financial Times Stock Exchange (FTSE) 100 businesses.

Within industry there is no set career progression, so you will get out of the role what you put in. This gives you a real opportunity to parachute through the ranks, but could also mean that you stagnate if you are not career-hungry and put the work in. Some of the roles you will be able to choose from include Commercial Analyst, Financial Accountant, and Management Accountant.

If you are still struggling to choose between practice and industry, you can check out our blog on the different career options for a Chartered Accountant. 

I recently made the move to industry but it’s not what I was expecting. Can I move back to practice without looking bad?

Absolutely - changing your mind early in your career is more common than you might think, and it won’t reflect badly on you if handled in the right way. Employers understand that the transition from practice to industry can sometimes be different from what you expected. What’s important is how you talk about the experience - if you can clearly explain what you learned, why it wasn’t the right fit, and why you're motivated to return to practice, most firms will respect your honesty and self-awareness.

If you have made the move and want to go back to practice, we advise that you talk to a specialist Consultant who will be able to speak with their clients and make introductions on your behalf.

You should start to think of how you can leverage the experience you have built up when it comes to making the transition. For example, you might develop a deeper understanding of business ‘know-how’, have a higher appreciation of quality service, or be able to grasp clients’ needs easier. 

At Sellick Partnership, we can help position your experience in the best possible light, tailoring your CV and supporting you through the interview process to give you the best chance of making a smooth return.

I am ACA/ICAS qualified and from overseas/want to work overseas, what are my options?

As a Chartered Accountant you have the recognised skills to work worldwide, which opens up so many doors, but it is important to know what to expect. Organisations are taking on global approaches and geographical borders aren’t the barrier they once were, however, each country has its own Visa process, as does the UK, so it is vitally important to look into the specific requirements for the country you are hoping to work within prior to applying for any vacancies.

For example, it is hard to find a role in industry that will offer sponsorship, but practice firms are able to fund international candidates looking to secure a role here in the UK.

Experience of working internationally can sometimes be seen as critical career experience for reaching the senior management levels, which is something to take into consideration when weighing up your career options.

Where should I be looking for a job now I am qualified?

The best advice we can give to any newly qualified Accountants is to speak to an experienced recruiter who knows the market well. At Sellick Partnership we get to know both our clients and candidates on a professional and personal level and can offer career advice on the best companies to move to both in terms of team fit as well as professional development.

We would also advise you to use your Recruitment Consultant to talk through career options and don’t just rely on them to find you a new job. Most recruiters will be experts in their field and will have unrivalled market knowledge when it comes to accounting career opportunities, so keeping in touch with them and asking for advice will be hugely beneficial.

Recruiters can help you with everything from developing your online brand and interview preparation right through to advice on career paths, the training and development you should be receiving, and average salaries.

What next?

Qualifying is a huge step – but the real journey is just beginning. Whether you’re set on staying in practice, exploring commercial roles in industry, or open to interim opportunities, there’s no one-size-fits-all answer. The key is knowing your options, understanding what you want, and getting the right guidance.

With a combined experience of over 30 years, our Finance & Accountancy Consultants have a wealth of knowledge when it comes to placing newly qualified ACA accountancy candidates with a range of businesses across the UK. If you would like their help feel free to get in touch today for some tailored career advice.

Alternatively, you can check out more tips on securing your next role in our Candidate section or browse our latest finance and accounting jobs.