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Is going to industry the end of the line after getting ACA? Watch

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    Hi guys I read in a lot of different places that for one reason or another, a percentage of people move into industry after getting the ACA.

    I understand why they want to do that because of the better and more stable hours and the higher pay especially if you just qualified. From my research, people usually go to financial controller roles in companies and they get paid in the region of 50-60k which is amazing compared to the 30-40k region when you first qualify.

    However my question is whether this is the end of the line for your career if you move into industry? I know there are levels on top of you where you can promote to such as CFO and CEO etc but is the thinking that you will reach that level even classed as dreaming? I mean usually big companies only one person reaches this level, so does everyone else pretty much get stuck in the FC role?

    Whereas in a firm the salary package of 50-60k is reached at manager level which is 1-3 years after qualification and on top of that there is senior manager (60-80k) then director (80-100k) then partner (100+k) etc. So to an extent the scope of promotion and the money involved seems a lot more promising than the moving into industry route because there is a number of positions available as opposed to industry. But I am not saying that it is an easy route...

    So in essence am I wrong in thinking that moving into industry is a short term decision compared to staying in a firm as long as you can hack the hours/pressure etc? Or is there some truth in this?

    I may be wrong to think that there is limited promotion scope in terms of moving into industry, if I am, please tell me as I want more insight into the issue.
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    I don't think this is very accurate. All companies will have a certain heirachy thus there will be equivalent positions to your manager, sm & director positions, and with comparable salaries too (depending on the company). Also bear in mind the size of the finance function in a large company - if a company only has 100 finance staff the odds of reaching a top position aren't so remote are they? I do agree you will struggle to ever make hte kind of money as a partner at the big 4, but it's not right to say your career is at the end of the line!

    Also in a lot of companies your financial controller would be equivalent to your senior manager position i.e. you won't just walk in as a newly qualified!
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    (Original post by P-K)
    I don't think this is very accurate. All companies will have a certain heirachy thus there will be equivalent positions to your manager, sm & director positions, and with comparable salaries too (depending on the company). Also bear in mind the size of the finance function in a large company - if a company only has 100 finance staff the odds of reaching a top position aren't so remote are they? I do agree you will struggle to ever make hte kind of money as a partner at the big 4, but it's not right to say your career is at the end of the line!

    Also in a lot of companies your financial controller would be equivalent to your senior manager position i.e. you won't just walk in as a newly qualified!
    Thanks! This thread was made because I wasn't too sure on the promotions available to people who went from ACA qualified in firm to the industry. Its nice to know that moving into industry also consists of several promotions as well like within a firm. My understanding was that when you go into a financial controller position for example, that is quite high up the chain already and so the scope for promotion was a lot less than if you were within a firm!

    Thanks for clearing this up.
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    I have seen people go to start ups, rise quickly within the ranks and then use the experience to leverage a similar level position elsewhere.

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