Job Hunting Woes

[Akmeeda]

or perhaps not so logical if you missed the boat and didn't get one one - why not study for and take some exams regardless and get some from of trainee accountant role without the need for it to also be labelled a 'grad scheme'?

Given that plenty of grads get hired then subsequently fail exams and drop out of or get thrown out of grad schemes then getting some passes under your belt ought to be a good way to land a job.

I still think it has been a logical choice. I've enjoyed my time at uni and would go this route again. Last year, when the recruitment for 2016 schemes was in full swing, I was going through some health issues. Mix that with the workload I had at uni meant I wasn't able to apply to as many jobs as I would have liked.

I'd have to pay for the ICAS exams myself if I decide to sit the exams without being on a training contract. I'll look into it if there is any other way though.

Failing exams and getting kicked out of the grad scheme is a risk yeah. The workload for CA exams is very tough. My friends starting at Big 4 this year are already complaining!

Got a couple of interviews coming up soon though. I've gotten further for some jobs than I did last year but the whole recruitment process is so drawn out and it's long waits between each stage so far.

Also got a couple interviews for some part time customer service roles in branch for some banks. I'll be happy with a role like that till I can start on a grad scheme. Maybe it would be beneficial to take an easy year of part-time work before the hell that is CA training and full-time work?

If anyone sees a flaw with my plan or has any better suggestion then please do mention it.

EDIT: Oh yeah, my degree is an ICAS accredited degree and I have the relevant grades to be exempt from 5 of the exams I believe.

 

[dowie]

I still think it has been a logical choice. I've enjoyed my time at uni and would go this route again.

What route? You're not on a grad scheme, I'm not criticisng the degree (Edinburgh is a great uni to have studied at) I'm just pointing out that, once you've graduated, you don't *have* to join a 'grad scheme' to become a chartered accountant (or many other professions/vocations for that matter).

If anyone sees a flaw with my plan or has any better suggestion then please do mention it.

The flaw is that you're not doing anything to further your goal surely? Being a bank cashier for a year might pay the bills but it isn't doing anything for you career wise. Next year you'll be competing for the same jobs again, only with your CV slightly diminished and with another bunch of competitors in the form of a new batch of grads quite similar to the batch you were competing with before.

I dunno, I'm not an accountant so maybe some others who are can correct me but surely passing some exams would be helpful here and/or looking for roles in some local accountancy firms that don't run 'grad schemes' per say but might be willing to take you on as a trainee.

 

[Akmeeda]

What route? You're not on a grad scheme, I'm not criticisng the degree (Edinburgh is a great uni to have studied at) I'm just pointing out that, once you've graduated, you don't *have* to join a 'grad scheme' to become a chartered accountant (or many other professions/vocations for that matter).

I get what you are saying but to study for ICAS through the graduate route, I *have* to be employed with an authorized ICAS employer. From what I have seen, these authorized employers all have a similar structure, i.e. 3 year training contract. The grad schemes are 3 year training contracts as well, but just worded as a 'grad scheme'. The contracts are 3 years as you need 3 years work experience alongside passing the exams to become fully qualified. I should mention that I am applying for auditor roles.

From ICAS' website:

There are different routes to becoming a CA which include:

Direct entry route for school-leavers
Graduate entry route for university graduates
Professional entry route for experienced finance professionals
Pathways entry route for Chartered professionals

Looking at this, there is only one option for me and that is the graduate entry route which requires a 3-year training contract. Some firms call this their graduate scheme and others just call it a training contract. So either way it is basically the same thing. I have been applying to both.

The flaw is that you're not doing anything to further your goal surely? Being a bank cashier for a year might pay the bills but it isn't doing anything for you career wise. Next year you'll be competing for the same jobs again, only with your CV slightly diminished and with another bunch of competitors in the form of a new batch of grads quite similar to the batch you were competing with before.

I am actively applying for ICAS training contracts so I don't see how that is not furthering my goal. The thing is, the way most firms work is that they recruit now for start-date of next September so even if I get a job now I still have to wait till next September to start. So in that regard, I don't think there is anything wrong with working part-time till then. It is my hope that I can secure a training contract over the next month or two and then work part-time till that role starts, which again will most likely be September next year.

I dunno, I'm not an accountant so maybe some others who are can correct me but surely passing some exams would be helpful here and/or looking for roles in some local accountancy firms that don't run 'grad schemes' per say but might be willing to take you on as a trainee.

The authorized local accountancy firms all have a similar structure to the big firms. I.e. 3 year training contract (which is basically what the grad schemes are offering) for start date of September 2017 (even if I apply now).

If I could sit exams now then I would. But I have to pay for it myself and I just don't have the finances to do that right now.

 

[dowie]

I am actively applying for ICAS training contracts so I don't see how that is not furthering my goal.

I was referring to working as a bank cashier.

Surely some sort of accounting related role, even if not on a training contract, would be preferable to that? Like the finance dept of some company or other, after all you're going to be auditing them in future so why not get some work experience from the other side? Does it have to be ICAS, why not ACCA? Could you complete some ACCA exams over the next year and then have a stronger application next time around? If you completed some ACCA exams can you then use them towards further ICAS exemptions if you land a grad scheme/training contract next year?

Obviously you're applying for jobs, that is a given. My point was that you're surely going to be in the same position next year (or slightly worse) and relying on playing the numbers game re: applications. Instead of wasting a year why not try to take some steps to put yourself in a better position with some more relevant work experience and some more exam passes/exemptions?

 

[MichaelAwkward]

I agree, you should expand your horizons beyond just the ICAS route.

I had little luck over the past two months getting in directly with an accountancy firm or grad schemes, without any formal accounts experience whatsoever. My degree was non-finance, but heavily statistical. Instead I've ended up getting a job at a private school as an accounts clerk, and they're funding me to do AAT up to level 4, after which I'll move onto getting chartered status either with them, another employer, or on my own. My work experience now will count towards the professional requirements for that too.

I could've gone straight into ACCA/ICAEW/CIMA/etc with just my degree on my own, but almost every employer I spoke to said they wouldn't even consider somebody who had just completed one of those qualifications with no real experience. One didn't rate those who come off grad schemes too highly either, but then I guess it depends on where you want to end up.

The money is a bit less than a grad scheme sure, but I think it's a sensible alternative route and will give me a good grounding in day-to-day accounting. You should explore other options like that.

 

[Akmeeda]

The reason I'm so focused on ICAS is because my degree is ICAS accredited and I specifically picked certain modules during uni in order to get the maximum amount of exam exemptions for ICAS. It's actually not a massive deal by any means but that's primarily why I'm focused on ICAS.

And yeah I am worried about the lack of experience but I thought working as a bank clerk would be beneficial for a number of reasons.

- Customer facing and I see this as an important skill especially when dealing with lots of clients in an audit role. Learning to deal with people and ensuring I go above and beyond for customers/clients at all times. I figured they would look on this favorably.

- Working with sensitive information. Yeah it's just working in a bank but still requires a certain level of trust and confidentiality and if I can demonstrate that in this type of job then hopefully it puts me in good light for audit roles.

- Working with numbers. Yeah it would just be to a basic level but still.

Saying all that however, I've been thinking about the points that Dowie raised and he's right in that I should put my effort in trainee accountant roles rather than work around in customer service for a year. So that's what I'm gonna do, hunt down as many trainee roles as possible, even if there is no training for ICAS or anything provided, at least it's giving me some real world experience.

Thanks guys