Career coach | Career navigator
Which path should I follow?
A career in accounting and finance can take you in a multitude of directions, so weighing up your chosen route involves careful consideration
Words Marianne Curphey
AT A GLANCE
1
The decision between a career in practice, business or the public sector involves balancing your own personal interests and skills
2
Each sector has its own culture and opportunities
3
You can move between sectors as your AAT skills are valuable and transferable
An AAT qualification opens up a range of exciting opportunities, from working in practice with individual clients and businesses, to pursuing a career in industry or the public sector. As a student looking for an apprenticeship or your first job, how do you choose which sector to work in?
Working in practice
What does a career in accounting practice look like?
A career in practice typically involves working in accounting firms, ranging from small offices serving the interests of local people and businesses, to organisations with large international networks that offer auditing, corporate finance and legal advice – such as the accounting ‘Big Four’ of Deloitte, PwC, EY and KPMG).
In smaller firms, you will have a lot of direct contact with clients and learn skills around supporting small and medium-sized enterprises (SMEs), helping them plan and manage their businesses, and personal tax. Often these relationships are long-lasting and you have the satisfaction of watching their business grow. Larger firms tend to provide a fast-paced, dynamic environment that demands technical expertise and a deep understanding of specialist aspects of accounting.
What skills do I need?
You will need strong technical skills, attention to detail and the ability to build excellent client relationships. You will explain changes to tax and legislation to non-financial people and build strong networking and communication skills.
“Working in a small private practice means you are helping local businesses and individuals with their tax and accountancy affairs,” explains Mike Sole FMAAT, partner in Batchelor Coop Chartered Accountants in Canterbury, deputy leader of Canterbury City Council – where he is cabinet member for finance – and Kent County councillor.
“In today’s more complicated world, people really need that help. You are providing a genuine service and you can build lasting relationships with clients. I’ve seen businesses grow from a single person with one piece of equipment to multi-million-pound companies – and it’s just as satisfying to help someone like a local window cleaner who needs advice at year-end. It’s about being part of the community.”
Mike Sole FMAAT
What are the prospects?
You can develop a specialism, become a partner or set up your own practice. Large accounting firms have structured training programmes that enable you to spend time in different departments to find out in which aspects of accounting you are most interested. You can also work on the business development and strategy side of practice, helping it to grow.
Nive Raj, finance manager at accountant striveX, has just passed her AAT Level 4 and is in charge of internal operations and business development at the accountancy start-up.
“I produce monthly board reports to look at how we can improve the business and make strategic decisions,” she says. “I analyse where we could cut costs, or where we need to invest more.”
Industry and the corporate sector
What does a career in industry and the corporate sector look like?
Working in the business or corporate sector means joining the finance team of a company. This environment tends to be more structured around reporting dates and regulations, and offers the opportunity to become a specialist in areas such as management accounting, financial planning or internal auditing.
Chris Argent MAAT
What skills do I need?
You will learn how the finance team plays a key role in business strategy, decision-making, budgeting and risk management. As well as working on payroll, cash flow, credit control, supplier accounts and annual reports, corporate accountants need to be able to communicate complex financial information to non-financial colleagues and articulate their recommendations for strategic business decisions. You will play a key role in guiding decision-making processes through financial analysis and budgeting. Key skills include analytical thinking, problem-solving and managing your time well.
Before becoming founder and managing director of Generation CFO, a community dedicated to the digitalisation of the finance function, Chris Argent MAAT worked as a management accountant, divisional chief financial officer (CFO) and then moved into finance transformation at Amazon, John Lewis and Vodafone.
“A traditional finance role was process-oriented, siloed, repetitive, focused on standardised tasks, but with digital transformation and AI the role has changed,” he says. “Now, the business wants granular, specific insights and relevant analysis that helps it grow. That’s business partnering and value adding, and those strategic and analytical skills are already core to accountants.”
What are the prospects?
It is possible to develop skills and experience that mean you rise to become CFO. Other opportunities include working more closely with the commercial team or specialising in business development.
Public sector
What does a career in accounting practice look like?
The public sector offers opportunities in government bodies, regulatory agencies and public institutions such as hospital trusts, emergency services, education, local government, waste management and law enforcement. Working in this sector requires a different focus, as accountants need to be accountable, transparent and provide value for money for the public purse. Since these organisations are not primarily profit-driven, this sector often appeals to people who are interested in providing a service to the community.
Andy Murray FMAAT AATQB
What skills do I need?
A key difference is that you will need to be able to navigate complex regulatory frameworks and make decisions based on industry standards and specific tendering requirements. You will need to have strong organisational skills and be committed to high standards of integrity.
“In my experience at Canterbury City Council, public finance roles come with good staff support and training opportunities,” says Sole. “Budgets are tight and people work hard, but there is a real local connection. You are doing something that helps your community, whether it’s calculating council tax, paying bills or managing the budget. That sense of public service means a lot to people in the sector.”
Andy Murray FMAAT AATQB is a management accountant at Livestock Information Ltd, a company owned by the Department for Environment, Food and Rural Affairs (Defra) and the Agriculture and Horticulture Development Board (AHDB) that provides livestock traceability.
“We are a limited company within our own right, so we have our own rules to follow, but we also have policies and procedures from the Treasury, we are audited by the National Audit Office and we are funded fully by the government,” he explains. “We are building technology, not raising invoices for products or dealing with inventory. Teamwork is so important, as is communication. Relationships matter and respecting people’s experience, being open-minded and collaborating are just as important as technical skills.”
What are the prospects?
There are a range of career paths in the public sector, which could include rising as high as director of finance in bodies such as local councils, NHS trusts, regional police forces, central government departments and much more.
TOP TIPS
How to choose your career path in any sector
The most important aspect of your first job is the opportunity to put your AAT studies into practice. As you gain more experience, you will find out whether you enjoy working with clients, growing a business, contributing to public welfare or taking on a more commercial role. Early on, focus on developing your professional skills, which are readily transferable across sectors.
“As long as you get a foot in the door, you can start to put into practice the theory you have been studying at college,” says Ben Mortiboy AATQB, client accountant apprentice at Savills and an AAT Level 3 student.
“Don’t be afraid to change sectors later if you are interested in trying something new,” he says. “Once you practise your AAT knowledge in a business environment, it starts to sink in. Make the most of every opportunity. Accountancy is such a varied career and the apprenticeship route is great because you are learning and getting paid at the same time.”
The Association of Accounting Technicians. 30 Churchill Place, London E14 5RE. Registered charity no.1050724. A company limited by guarantee (No. 1518983).
