After a long wait, the FAE results are almost upon us. For those awaiting their FAE results this Friday 22nd November, most are thinking, what now?
There are a number of options available but a lot will depend on your results. Here are 4 options to consider!
Congratulations, you've come through one of the hardest parts of your journey and it's time to plan for the next stage of your career:
1. Stay within practice
Some people will remain with their current firm and there can be a strong structured career path to manager level and above for those who choose this route. Another option is to move firms. Moving as a qualified accountant can give you automatic credibility you don't always get if remaining with the firm you trained with. There are currently opportunities with a lot of the Big 4, Top 10, Top 20 and mid-tier firms in audit, corporate recovery and risk advisory and a stint in a larger firm can open doors for the rest of your career if you trained in small practice
2. Move to industry
This is the route that a lot of people will pursue. There are some great opportunities out there for people within industry in roles such as financial accounting, internal audit and financial analysis. The jobs are predominantly within multi-nationals and larger businesses though and experience within Big 4/Top 10 practice is a requirement for a lot of these vacancies.
For those coming from smaller firms breaking into industry can prove more difficult but there are encouraging signs that domestic SME's are starting to hire staff again and the broad knowledge gained in small practice is normally highly prized in this sector.
Although failing your FAE's seems like a big set-back there are options available also:
3. Move to industry
Gaining experience at accounts assistant or assistant accountant level in industry prior to completing your exams is a good option to consider. Targeting your job search within the client base you've worked is probably your best option. If you've strong exposure to clients within financial services area then banks will be interested in your experience. Likewise, exposure to clients in the manufacturing sector during your training should increase your attractiveness to firms in this sector
4. Stay within practice
If you decide to stick with practice the most likely scenario is to remain with your current firm. Moving to another firm is possible but a lot of the larger firms have an exam policy in place where they won't consider people if they've fallen down in the exams.