Chartered accountant : Career development

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1. Job description
2. Salary and conditions
3. Entry requirements
4. Training
5. Career development
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• Chartered accountant: Kate Baker

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The majority of chartered accountants train in public practice and the first three years are devoted to achieving the CA or ACA qualification. During this time they build up experience and take on additional responsibilities, including supervising junior staff and liaising more directly with clients. In some cases, there may be the opportunity for a secondment to another area of the practice to broaden experience. Trainees normally remain with the same employer throughout the training contract.

The CA or ACA qualification provides a foundation for many different career routes, and opportunities for post-qualification progression are numerous and varied. Staying in public practice offers the opportunity for secondments or transfers to different areas of practice (e.g. tax, corporate finance or management consultancy) or, alternatively, a move to a different-sized firm. In the large international firms, overseas secondments are possible.

Progression is often structured, and an accountant may become a manager two years after qualification and a senior manager three years after that. Progress to partnership is competitive but is achievable between 8 and 15 years after qualification. In small firms, progression may be more rapid.

Around half of all qualified chartered accountants work outside public practice, in commerce, industry, financial services, banking and the public and not-for-profit sector. Typical roles at the newly qualified stage include internal auditor, financial accountant and business analyst. Career progression in this setting varies, depending on individual aspirations and abilities, but it is possible to progress to finance director of a major company within 10 to 15 years of qualification.

The qualification also opens doors to general business management careers or creates the opportunity to set up independently as a sole practitioner.