CareerCoach
Planning your next step
Elliot Jackson, director of Robert Walters London, outlines the key stages AAT professionals should consider as they seek career progression
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Each accounting professional plays a pivotal role in the finance department of any organisation, with responsibilities including the preparation of financial statements, monitoring expenses, considering risk and ensuring tax compliance.
Those who are contemplating taking the next step in their career will be met with numerous choices and potential paths to take. For this reason, it is critical that they make an informed decision that suits their desired career trajectory.
Here is an eight-step guide outlining the key phases of decision-making to assist accounting professionals in navigating the process.
Those who are contemplating taking the next step in their career will be met with numerous choices and potential paths to take.
Self-assessment
This is the first and most crucial stage. Accounting technicians must evaluate their current skills, knowledge and competencies. This means identifying strengths as well as areas that need improvement. It is also important to assess personal goals and aspirations at this stage. You should be asking yourself questions like, ‘Do I enjoy leadership roles?’ or ‘Am I comfortable taking on more responsibilities?’
Market research
Understanding the job market is vital. This includes being aware of the qualifications and skills required for higher positions, but also researching salary expectations and job availability. You should also consider trends in the accounting field such as the increasing importance of data analysis or the rise of automation and AI adoption.
Educational requirements
Higher positions also often require advanced degrees or certifications. For example, becoming a certified public accountant (CPA) or a chartered accountant (CA) may be a prerequisite for certain roles. You should assess whether you are willing or even able to invest your time (and sometimes earnings) in these qualifications to ensure you have the appropriate educational background.
Skills development
In the self-assessment and market research stage, you may identify skills that require further development. These could include technical skills such as mastering a new accounting software, or soft skills like leadership or communication. You should then consider the ways you can acquire these skills, whether through on-the-job training, online courses or further education.
Networking
Building professional relationships can open doors to new opportunities. To do this, you should prioritise attending industry events, joining professional associations or leveraging platforms like LinkedIn to connect with peers and potential mentors.
Calling on the knowledge of a recruitment expert presents yet another avenue of advice. They can talk you through potential career pathways, orientate you towards relevant opportunities, and even tip you off to local industry events and meet-ups.
Work-life balance
Moving up the career ladder often involves taking on more responsibilities, which can impact work-life balance. You should bear in mind how career advancement could affect your personal life and whether you are prepared for this change. This is also why it’s a good idea to fully analyse each aspect of every potential new position, as those that seem attractive initially may have some major drawbacks such as considerable overtime or weekend work.
Financial implications
If you do need to take on further education or a certification, it comes at a cost. Before starting any additional courses or certifications, you should weigh these costs against the potential increase in income from the higher position you could achieve on completion. Another thing worth considering is any potential financial assistance your employer could offer towards your professional development. While this could help with additional costs, it could also open you up to new avenues or more senior positions internally.
Making the decision
After evaluating all these factors, you can feel safe in the knowledge that you are making an informed decision. It’s important you don’t feel alone or ill-advised in making any choice on your career. When you feel sure of your decision, it could be worth running it past a colleague, manager or mentor. That way they can raise any additional points you may not have considered.
Planning your next career move is no small feat and it can seem like even more of a mammoth task to take on alone. Considering these eight steps can go a long way in helping you successfully navigate the process, but the decision is ultimately yours. And while it can seem intimidating at first, taking the next steps in your career can also be an extremely exciting and fulfilling pursuit.
Planning your next step
Elliot Jackson, director of Robert Walters London, outlines the key stages AAT professionals should consider as they seek career progression
