Accounting Practice Vs Industry

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
Is it a reality that in medium to large accounting practices a level of "snootiness" occurs?

Im trying to get a summer placement and the rejections i've had so far, i've tried to take on the chin, but have almost been gloatingly snobby.

Previously working in industry I never found this but often heard rumours about whats it like in practice.

Anyone have any comments? Maybe im just hacked off at the rejections but upon completing my degree I need to make the industry/practice choice.

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry

    I am employed in industry and spoke to our firm of Accountants who i deal with alot and asked what they would pay someone with my qualifications and they said about £11k, which is much less than my salary in industry. It does seem very hard to get a good salary in practice with the AAT qualification...or is that just me!!
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry
    Jodie wrote:
    I am employed in industry and spoke to our firm of Accountants who i deal with alot and asked what they would pay someone with my qualifications and they said about £11k, which is much less than my salary in industry. It does seem very hard to get a good salary in practice with the AAT qualification...or is that just me!!

    I'm an ACMA as well as an MAAT and have had some very senior roles but am now looking to move in to practice. When I tell the agencies my current salary they straight away tell me that I will not get that in practice. It seems true to say that practice are nowhere near as well paid as industry unless you specialise - I'm thinking of specialising in Tax.....
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry

    Well just your two comments have decided it for me then industry it is. I know I like working it industry, and if its better paid, it seems an obvious choice.

    Thanks alot and any more comments appreciated.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry


    I work in practice part time as well as for myself. I sub contract in a small practice (there are 3 of us and we are a friendly bunch. However I have been for interviews at larger practices prior to getting this job and there was definately an overdose of snobbery.
    I have to say I am better paid now working part time on a sub contract basis than I was working full time in industry.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry

    Hi

    Having seen various vacanices, the 'trainee' or PQ vacancies in practice seem to offer lower salaries than an equivalent positon in industry but the qualified salaries seem quite good however. Although practice salaries for trainees and PQs seems lower, practices do often have a better training ethos.

    If you are looking to move from practice to industry, this seems a normal thing to do. But industry to practice seems less common. Since the work of the two can be quite different, going from industry to practice may mean virtually starting over and therfore a pay drop.

    Neil
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Accounting Practice Vs Industry

    Hi Lincs,

    I work in practice and was one of those that made the move to practice from industry - a move which I don't regret (though I know I'm in the minority saying that!)

    It is renowned, however, that practice does pay substantially lower wages for trainees than industry. However, practice does tend to offer better study packages, hence the lower salary.

    Trainee salaries in practice are pretty paltry but once you are qualified there is a substantial jump!

    There are firms which do offer temporary positions, though these are not particularly abundant these days as most firms take on trainees by virtue of training contracts.

    Regards
    Steve

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