Finance Graduate Scheme Vs. Accountancy in practice
A lot of the discussion on here seems to be centred around the large accountancy firms...
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Original post by EconGrad_1
A lot of the discussion on here seems to be centred around the large accountancy firms...
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Look up the differences between management and chartered accountancy and most of your questions should be answered.
You'd not be surprised to see that a number of prestigious companies prefer chartered accountants with Big 4 backgrounds when they seeking Finance professionals, which is because of:
1 the second-to-none exposure to a diverse range of huge clients including the leading firms in the industry, like J.P.Morgan, HSBC in Financial Services (KPMG's clients). I bet you are unlikely able to expect to build up relationship with such industry giants, who will cultivate you with a global view, in other small companies;
2 the cutting-edge technical methodologies and the excellent staffs which you can progress your industry expertise quickly with and from;
3 the distinct culture which will shape you a charming professional personality.
In the aspect of qualification, I didn't know much about CIMA. But I found most banks would require ACA for their Finance Manager positions. So I guess it's reasonable to imply that ACA could be more industry-respected.
1 the second-to-none exposure to a diverse range of huge clients including the leading firms in the industry, like J.P.Morgan, HSBC in Financial Services (KPMG's clients). I bet you are unlikely able to expect to build up relationship with such industry giants, who will cultivate you with a global view, in other small companies;
2 the cutting-edge technical methodologies and the excellent staffs which you can progress your industry expertise quickly with and from;
3 the distinct culture which will shape you a charming professional personality.
In the aspect of qualification, I didn't know much about CIMA. But I found most banks would require ACA for their Finance Manager positions. So I guess it's reasonable to imply that ACA could be more industry-respected.
Having worked for both a Big 4 in consulting and in an investment bank, it ultimately boils down to working in a fairly process driven environment at the same desk every day against working for a number of clients on various projects. Having said that, salaries in industry will be higher, plus not everyone might want to travel as much as consultants do.
Also, another issue which may get overlooked, is that unless you work in a front office position in an investment bank there will always be a gap between the traders/bankers and finance ("middle office") people, whereas if you work in a Big 4 in an audit role or as a consultant, effectively you are the "front office" (as you provide services directly to the client), though then again no client likes auditors ;p Therefore if you do decide to do a finance/risk/compliance role in a bank, you will occasionally feel like sh*t around front office people as they look down at you; it can be quite evident in their attitudes.
Also, another issue which may get overlooked, is that unless you work in a front office position in an investment bank there will always be a gap between the traders/bankers and finance ("middle office") people, whereas if you work in a Big 4 in an audit role or as a consultant, effectively you are the "front office" (as you provide services directly to the client), though then again no client likes auditors ;p Therefore if you do decide to do a finance/risk/compliance role in a bank, you will occasionally feel like sh*t around front office people as they look down at you; it can be quite evident in their attitudes.
(edited 11 years ago)
Original post by EconGrad_1
A lot of the discussion on here seems to be centred around the large accountancy firms...
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Would I be right in guessing that most people on here would prefer to get on to a graduate programme at one of the large accountancy firms, as opposed to say joining a finance grad scheme at a large organisation? - whether that be an insurance company, or a supermarket, or whatever..
Is this because the big4 are such huge employers?
Or are large accountancy firms offering a broader foundation of skills careers wise?
Some finance grad schemes use the CIMA qualification as opposed to ACA in practice...would you say ACA is better? Why?
Overall, I'm just wondering what people think the pros and cons are of each!?
Thanks!
Yeah as above, it's the exposure to a huge range of clients in different industries, the hands on experience you get and the huge range of skills you can develop talking face to face constantly with colleagues and client staff and having to work hard and to deadlines.
This also applies to the top mid-tier firms as well as Big 4; though the Big 4 is the creme-de-la-creme if you like of the Accountancy profession, but you can train for the ACA at a large number of smaller firms.
It's hard to say which of CIMA or ACA is better, as it is aimed at two different 'markets' really, it depends if you want to do Management Accounting or Financial Accounting. If you ever want to work in practice then obviously ACA is what you want to be aiming for. I would say that ACA is much more transferrable into industry than CIMA is transferring into practice.
I wish people will only give advice when they have relevant experience at the field.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
Original post by poony
I wish people will only give advice when they have relevant experience at the field.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
3 of the 4 people who've replied do have relevant experience.
Original post by poony
I wish people will only give advice when they have relevant experience at the field.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
What's difficult about getting good UCAS points and a minimum 2.1? Additionally you say people without relevant experience shouldn't give advice, but unless you've done CIMA and ACA how do you know which one is the easier route of the 2? Best to follow your own advice to be honest.
Original post by Brotherhood
3 of the 4 people who've replied do have relevant experience.
I have too, as I am part-qualified ACA
Original post by poony
I wish people will only give advice when they have relevant experience at the field.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
ACA is definitely more prestigious as most people suggested.
If you want to become ACA, you will need to join accountancy firm big or small, higher salary range is the reason why most graduates applied for large firms.
You cannot practice with CIMA qualification but it's a easier route. It's rather difficult to get ACA training contract without good UCAS points & min. of 2.1 classification.
This is a complete myth; the ACA qualification is not just offered by the accountancy firms.
There's no better way of putting it than in the words of the ICAEW itself:
To set the record straight, we can tell you that you can take our ACA qualification in MANY other areas and sectors. You can take the ACA in practice, financial services, public sector and in industry. Within these sectors, you can specialise in corporate finance, financial reporting, risk consulting, taxation, assurance, forensic accounting, information technology and the list goes on!
Original post by dudleyian
This is a complete myth; the ACA qualification is not just offered by the accountancy firms.
There's no better way of putting it than in the words of the ICAEW itself:
There's no better way of putting it than in the words of the ICAEW itself:
Vast majority of the time firms do ACA and industry does ACCA.
It is sometimes possible to do ACA in industry, obviously a lot of multinationals will have internal audit functions.
Ultimately it depends on what you'd prefer. Would you rather be in a client facing role, being treated like crap at times or would you prefer to be chained to a desk reporting to a limited number or internal stakeholders?
This was posted from The Student Room's Android App
Ultimately it depends on what you'd prefer. Would you rather be in a client facing role, being treated like crap at times or would you prefer to be chained to a desk reporting to a limited number or internal stakeholders?
This was posted from The Student Room's Android App
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