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ACA in a small firm or Graduate Pension Audit Assistant with ACCA at big FIRM?

I have been offered two different roles and both has its own pros and cons. One is a trainee position at small accountancy firm and the other is a Pension Audit Assistant role in a big accountancy firm (TOP 10) which is offering me a full ACCA study support. The pros and cons weigh out the same from my perspective so I am finding it very difficult to make a decision. I hope I can get some help here.
Reply 1
Original post by SKS17
I have been offered two different roles and both has its own pros and cons. One is a trainee position at small accountancy firm and the other is a Pension Audit Assistant role in a big accountancy firm (TOP 10) which is offering me a full ACCA study support. The pros and cons weigh out the same from my perspective so I am finding it very difficult to make a decision. I hope I can get some help here.


I don't think you've given enough details for anyone to assist much:

- what are you doing now? Student? Graduate?
- what have you studied previously? Any exemptions from professional exams?
- are the jobs in the same city? Do you have a preference for location?
- Why do you want to be an accountant? Do you have future aspirations?
Reply 2
Original post by ajj2000
I don't think you've given enough details for anyone to assist much:

- what are you doing now? Student? Graduate?
- what have you studied previously? Any exemptions from professional exams?
- are the jobs in the same city? Do you have a preference for location?
- Why do you want to be an accountant? Do you have future aspirations?


I am an accounting and finance graduate with First Class Honours. I started my career as an Accounts Payable and made my way up to becoming a Financial Analyst in the same company but I though that I haven't had enough chance to showcase my skills and knowledge and felt as if I could do more than what I was doing so I started applying for graduate roles. My aim is to become a successful accountant and study towards a professional qualification (ACCA, ACA or CIMA).
If I end up doing ACCA, I can get 9 exemptions where as with ACA I will get 3.
Location is not big of an issue to be as both jobs are located in the same area.
Reply 3
Original post by SKS17
I am an accounting and finance graduate with First Class Honours. I started my career as an Accounts Payable and made my way up to becoming a Financial Analyst in the same company but I though that I haven't had enough chance to showcase my skills and knowledge and felt as if I could do more than what I was doing so I started applying for graduate roles. My aim is to become a successful accountant and study towards a professional qualification (ACCA, ACA or CIMA).
If I end up doing ACCA, I can get 9 exemptions where as with ACA I will get 3.
Location is not big of an issue to be as both jobs are located in the same area.


You sound like you are in a great position! What training do the jobs offer (I mean do they pay for courses and give any time off to study? Home study or block release?) Is there a tie in where you have to repay costs of studying if you don't stay for a length of time?
Original post by SKS17
I am an accounting and finance graduate with First Class Honours. I started my career as an Accounts Payable and made my way up to becoming a Financial Analyst in the same company but I though that I haven't had enough chance to showcase my skills and knowledge and felt as if I could do more than what I was doing so I started applying for graduate roles. My aim is to become a successful accountant and study towards a professional qualification (ACCA, ACA or CIMA).
If I end up doing ACCA, I can get 9 exemptions where as with ACA I will get 3.
Location is not big of an issue to be as both jobs are located in the same area.


Hi would you mind sharing the Uni you graduated from and your A-Level subjects(if you did them)?
Tysm & congrats on your job offers :smile:
Reply 5
Original post by ajj2000
You sound like you are in a great position! What training do the jobs offer (I mean do they pay for courses and give any time off to study? Home study or block release?) Is there a tie in where you have to repay costs of studying if you don't stay for a length of time?


Well, both firms are offering me a full study support. With the smaller firm once I pass my probation I will be signing a 3 years contract and I will be studying towards ACA. With the big firm, I am in a permanent contract plus a training contract for my study which will end once I am qualified. Both firms will give me time off when sitting a paper but I am getting more day with the bigger firm.
Reply 6
Original post by SKS17
Well, both firms are offering me a full study support. With the smaller firm once I pass my probation I will be signing a 3 years contract and I will be studying towards ACA. With the big firm, I am in a permanent contract plus a training contract for my study which will end once I am qualified. Both firms will give me time off when sitting a paper but I am getting more day with the bigger firm.


These would be my thoughts - from the school of hard knocks!

Big firm:

Pros:

- Brand name on your CV - don't underestimate this.

- Work in an office with lots of youngish graduates. You will likely make great friends and have a network which lasts for years. Lots of positive ambitious people. Generally an attractive office environment.

- Good to have people around you who are also studying who can offer encouragement and emotional support.

- with 9 exemptions ACCA shouldn't screw your life up too much. You'll only have 4/5 exams to sit (the exams for P stage are changing at the moment. You could finish this in a year then no more wasted weekends! Also good opportunity to do the MSc at UCL as part of the ACCA qualification. This could be very useful in the future.

- ACCA is more flexible if you want to leave before completing the qualification.

- Social skills - good experience in the corporate world. Very good training in dealing with clients and larger companies.

Cons:

- Pension auditing sounds pretty specific (however I've googled and there are lots of job ads for this speciality)

- Pensions schemes are closing down - probably not a long term career, although there will be lots of advisory and change type work for a few years. Thats assuming that you focus on company final salary schemes. If its major pensions firms investment products thats a really valuable technical skill to have.

- Not a very clear exit route to industry

Small firm:

Pros:

- ACA might be useful for some jobs. I'm a bit dubious about this - I think the distinction is over-estimated.

- You learn a lot about small businesses, and the accounting skills to work with them. Good opportunities to progress in the small business sector and move to partnership/ start your own firm should you wish to. I've seen colleagues in industry with such a background who kept a portfolio of clients so they always had a second income they could expand if they needed to.

- Very good if you'd like to start your own accounting / tax business. IME this really suits people from a small business background eg - family owned a cafe/ dad was a plumber.

- very good understanding of which sort of business make money and how.

- Soft skills - great for dealing with owner managers

Cons:

- 3 exemptions (I'd guess from pretty easy papers) is not much. Its pretty horrible studying and living with the uncertainty of exams.

- The sort of businesses you deal with are not generally the sort which employ qualified accountants - not always useful experience if you wish to move into industry, and not much opportunity to see the types of jobs available when you qualify.

- a small office? not many trainees?

- not straightforward to leave part way through ACA if you fancy a change or more money after a couple of years.


Personally I would go the ACCA route on the basis of exemptions gained to date - a year or so of sitting exams (if all goes to plan) is no big deal. Any more is painful.
Reply 7
Original post by ajj2000
These would be my thoughts - from the school of hard knocks!

Big firm:

Pros:

- Brand name on your CV - don't underestimate this.

- Work in an office with lots of youngish graduates. You will likely make great friends and have a network which lasts for years. Lots of positive ambitious people. Generally an attractive office environment.

- Good to have people around you who are also studying who can offer encouragement and emotional support.

- with 9 exemptions ACCA shouldn't screw your life up too much. You'll only have 4/5 exams to sit (the exams for P stage are changing at the moment. You could finish this in a year then no more wasted weekends! Also good opportunity to do the MSc at UCL as part of the ACCA qualification. This could be very useful in the future.

- ACCA is more flexible if you want to leave before completing the qualification.

- Social skills - good experience in the corporate world. Very good training in dealing with clients and larger companies.

Cons:

- Pension auditing sounds pretty specific (however I've googled and there are lots of job ads for this speciality)

- Pensions schemes are closing down - probably not a long term career, although there will be lots of advisory and change type work for a few years. Thats assuming that you focus on company final salary schemes. If its major pensions firms investment products thats a really valuable technical skill to have.

- Not a very clear exit route to industry

Small firm:

Pros:

- ACA might be useful for some jobs. I'm a bit dubious about this - I think the distinction is over-estimated.

- You learn a lot about small businesses, and the accounting skills to work with them. Good opportunities to progress in the small business sector and move to partnership/ start your own firm should you wish to. I've seen colleagues in industry with such a background who kept a portfolio of clients so they always had a second income they could expand if they needed to.

- Very good if you'd like to start your own accounting / tax business. IME this really suits people from a small business background eg - family owned a cafe/ dad was a plumber.

- very good understanding of which sort of business make money and how.

- Soft skills - great for dealing with owner managers

Cons:

- 3 exemptions (I'd guess from pretty easy papers) is not much. Its pretty horrible studying and living with the uncertainty of exams.

- The sort of businesses you deal with are not generally the sort which employ qualified accountants - not always useful experience if you wish to move into industry, and not much opportunity to see the types of jobs available when you qualify.

- a small office? not many trainees?

- not straightforward to leave part way through ACA if you fancy a change or more money after a couple of years.


Personally I would go the ACCA route on the basis of exemptions gained to date - a year or so of sitting exams (if all goes to plan) is no big deal. Any more is painful.


Thank you for your detailed feedback. I will definitely take these points into consideration.

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