breaking into accounting (1 Viewer)

[VIPPER]

a friend of a friend of mine graduated bcom double majoring in acc + finance with HD average but has yet to find a job because he has no work experience (and possibly aiming too high).. but another friend that has completed 1st year of bcom at sydney uni has found an admin job.

do people usually settle for less when trying to break into the industry and work their way up?
e.g. working in data entry -> admin -> accounts -> accounting ?


and maybe this might be a fairly broad question, but what would you guys say the current employment market is looking like with respect to the accounting industry (entry/graduate roles)?

 

[Omnipotence]

I find it hard to believe that a HD student couldn't get an accounting job (mid-tier or Big 4 for that matter). Which university did he graduated from?

 

[VIPPER]

I find it hard to believe that a HD student couldn't get an accounting job (mid-tier or Big 4 for that matter). Which university did he graduated from?

UNSW

 

[bladeys]

is he a basement nerd/socially retarded?

 

[seremify007]

I find it hard to believe that a HD student couldn't get an accounting job (mid-tier or Big 4 for that matter). Which university did he graduated from?

This.

I'd say there's a lot more at play than this. Unless he only applied for very few roles (e.g. Big 4) but failed to meet any of the other criteria we set.

 

[seremify007]

do people usually settle for less when trying to break into the industry and work their way up?
e.g. working in data entry -> admin -> accounts -> accounting ?

I think it varies largely depending on who you talk to. Most of my friends (AFAIK) went through either cadetships or vacation work in large firms/banks/companies and then were offered graduate positions. For those who didn't, they entered as graduates through the grad programs or went back to uni. Only one person I know didn't do this and joined a small company as their accountant for under $40k p/a (pretty shoddy pay) because they needed experience- but I've heard worse stories of people working for free just to get experience (and this is definitely not supported by the Institute). Whilst in some roles you can work your way up from admin/accounts clerk, it would be quite rare as professional accounting is very different to book keeping. You'd still need a degree as a minimum if it was a medium to large organisation, and most would require some kind of post-graduate qualification if you wanted to move up the ranks further.

and maybe this might be a fairly broad question, but what would you guys say the current employment market is looking like with respect to the accounting industry (entry/graduate roles)?

It's still reasonably good and most firms are hiring as many people as they have in years gone by but there hasn't been a huge amount of growth. Firms are trying to make the most of their grads and keep them agile.

 

[prazo94]

how much do chartered accountants earn when they start off?

 

[seremify007]

how much do chartered accountants earn when they start off?

It varies significantly and also depends when you mean by 'start off'? The CA program is done after you've worked a bit after finishing uni so what you're really asking is "how much does a CA earn" to which I reply it varies significantly since being a CA is not a job. It's a qualification.

 

[VIPPER]

I think it varies largely depending on who you talk to. Most of my friends (AFAIK) went through either cadetships or vacation work in large firms/banks/companies and then were offered graduate positions. For those who didn't, they entered as graduates through the grad programs or went back to uni. Only one person I know didn't do this and joined a small company as their accountant for under $40k p/a (pretty shoddy pay) because they needed experience- but I've heard worse stories of people working for free just to get experience (and this is definitely not supported by the Institute). Whilst in some roles you can work your way up from admin/accounts clerk, it would be quite rare as professional accounting is very different to book keeping. You'd still need a degree as a minimum if it was a medium to large organisation, and most would require some kind of post-graduate qualification if you wanted to move up the ranks further.

thanks so much for the reply seremify

i was also thinking of getting my foot in the door by starting off in an accounts assistant/accounts clerk position (to get into financial accounting/tax advisory/auditing), but would this be a bad idea? it appears so from your post but i could be wrong.. i lack extracurriculars and work experience so i was thinking this route would at least help me secure a job once i've completed uni (although i do realise that the most optimal way to get into professional accounting would be through vac/grad programs).

thanks again and i appreciate your informative posts!

 

[immabee]

a friend of a friend of mine graduated bcom double majoring in acc + finance with HD average but has yet to find a job because he has no work experience (and possibly aiming too high).. but another friend that has completed 1st year of bcom at sydney uni has found an admin job.

do people usually settle for less when trying to break into the industry and work their way up?
e.g. working in data entry -> admin -> accounts -> accounting ?

and maybe this might be a fairly broad question, but what would you guys say the current employment market is looking like with respect to the accounting industry (entry/graduate roles)?

Very very competitive. In WA itself, to be an admin or accounts assistant requires 1-2 years of experience and knowledge on certain accounting/administrative software.

Am afraid I will miss my chance for grad programs as I am an international student where we can't get cadetships and vacation work under student visa. Most accounting firms do not take graduates holding Temporary Graduate visa either. Have 2 upcoming casual employment and accumulated some volunteering experiences. Hopefully that add's up a bit of value to potential employers.

 

[seremify007]

thanks so much for the reply seremify

i was also thinking of getting my foot in the door by starting off in an accounts assistant/accounts clerk position (to get into financial accounting/tax advisory/auditing), but would this be a bad idea? it appears so from your post but i could be wrong.. i lack extracurriculars and work experience so i was thinking this route would at least help me secure a job once i've completed uni (although i do realise that the most optimal way to get into professional accounting would be through vac/grad programs).

thanks again and i appreciate your informative posts!

It's not a bad idea but TBH you'd probably get more from doing extra curricular activities and jobs which involve working in teams/coaching others. The main benefit of working in accounting beforehand is either to a) already learn stuff to minimise the amount of training/upskilling needed to get you ready and b) to show you're dedicated to the career path. The reality is an AP clerk role isn't going to get you that much of the first one (relative to any other casual/part time job e.g. Maccas, Coles, etc) and there are plenty of other ways to do the latter (e.g. being involved in EC activities, attending lots of functions hosted by the industry body, etc...). I'm not saying not to do it because any experience is helpful since it shows you have an idea of how to work, but the reality is that those roles you listed are more administrative or book keeping than professional accounting so I wouldn't focus on them to the detriment of other opportunities which might be more relevant and offer more things to help you stand out from the rest.

 

[seremify007]

Am afraid I will miss my chance for grad programs as I am an international student where we can't get cadetships and vacation work under student visa. Most accounting firms do not take graduates holding Temporary Graduate visa either. Have 2 upcoming casual employment and accumulated some volunteering experiences. Hopefully that add's up a bit of value to potential employers.

There was a time in the past two or three years where firms were more open to taking people on with certain visas/etc (i.e. international students) but the reality is if you aren't local or PR, the firm essentially needs to sponsor you and hence they will expect you to be that much better than the other candidates. There are obviously exceptions to this such as where a local firm is recruiting for an overseas firm but you start off in the local office, but this isn't the norm. It also helps if you have a kickass IELTS score and perform better than the locals in each stage of the process.

 

[chewy123]

do people usually settle for less when trying to break into the industry and work their way up?
e.g. working in data entry -> admin -> accounts -> accounting ?

Not sure what sort of answer you are looking for? I mean if you can't be top at the beginning, then obviously you will settle for less unless you want to sit around at home. There are other things you can do like taking a gap year or doing post-grad. Some people do that, some don't.

and maybe this might be a fairly broad question, but what would you guys say the current employment market is looking like with respect to the accounting industry (entry/graduate roles)?

Not at its best moments. My observation is that people who have mid to high credit average can generally get into at least mid-tier accounting firms or some other reputable firms. It's certainly not at a state where HD students would struggle to get a job. I think your friend is an exception rather than the rule and I am sure there are more to the story.