As you head towards qualification as a Chartered Accountant it is time to start to planning your new career as a professional and so here are some key actions you might consider for 2024. Start now and don’t leave it too late since it could be hard to predict what the jobs market will look like next year.    As a ‘newly qualified’ facing into the market in 2024 you will need to be proactive, agile, career focused and very attuned to what the market is doing so you don’t miss the boat. Hopefully the market remains strong for ACA’s in 2024 but to give you an edge we have put together this checklist that you can incorporate into your activities in the months ahead : LINKEDIN : Tick the ‘open to new opportunities’ check box in my LinkedIn settings Get my LinkedIn profile up to 100% completion  Follow companies of interest on LI  Send a polite connection request with message to 10 targeted profiles in LinkedIn each day. Review the profiles of my peers and predecessors on LinkedIn to see what steps their career paths have taken. Join groups on LinkedIn like Chartered Accountants Ireland and sector/skillset relevant groups MARKET MAPPING : Market map the sectors that appeal to you Set up job alerts messages on relevant job websites such as Irishjobs and LinkedIn Open a spreadsheet to track your applications and to facilitate following up on them Check the Irish times 1000 list of companies and examine each sector Research the companies and sectors that are of interest to you Make a list of sectors that interest you and are currently offering job opportunities Consider contract and interim roles Send 5 speculative applications per week to organisations of interest. NETWORKING : Review back issues of Accountancy Ireland or other business publications as research and for networking suggestions Reconnect with the practice where you trained; partners may have clients with requirements now Brainstorm a personal network list of contacts to go through and reconnect with in the weeks ahead Create a spreadsheet of potential contacts to keep track of your progress Analyse closely the organisations and business parks your locality to see what organisations might be recruiting Check the websites of IDA and Enterprise Ireland, Chamber of commerce and others Are the Big 4 firms doing Breakfast networking meetings online now that you could attend? List out the top 10 Buoyant sectors in the current market and research employment opportunities CV : Create a few different versions of my CV. Short / long, sector-specific etc Tweak my CV each week and save new version as I research specs. Seek feedback on my CV from a number of professional sources RECRUITERS : Research 3 reputable recruiters to partner with and build relationships Seek recommendations of recruiters to approach and get a warm introduction where possible Check in with your recruiter regularly for an update either by mail or brief call PERSONAL DEVELOPMENT: Use the Chartered Accountants Ireland Career Pathway tool to clarify your development needs Select a CPD or upskill course to start soon. Speak to my mentor and discuss plan / Get an independent experienced mentor. Review the Chartered Accountants Ireland website for articles and webinars Use the time to get devise a clear plan that reflects what is important to me in terms of a career roadmap and preferences in relation to: salary / location / work life balance / benefits / bonus / hours flexibility / WFH / promotion prospects. INTERVIEW PREPARATION : Start practicing your interview technique F Build a one page bulleted ‘strengths and weaknesses’ skill-set list Develop a bank of examples that you can outline in interview that will showcase your skills and competencies (use the STAR format) SELF -CARE AND WELLBEING :  Allocate time to connect with family and friends F Build exercise and relaxation into your weekly schedule Try to make some time for your own hobbies and interests each week. As always your Careers Team is here for you now that you are embarking on qualification so get in touch with me for CV advice, Interview prep, Career Consultation or any of the above info. Dave Riordan (ACA)  [ dave.riordan@charteredaccountants.ie ] Recruitment Specialist & Career Coach | Careers Team – Chartered Accountants Ireland Chartered Accountants House | 47 Pearse St, Dublin 2, Ireland Phone: +353 1 637 7251 | Mobile: +353 87 9674285                 

Donal Bourke began his career as an ACA, and now works in FinOps in Leeds, UK. He has also launched a YouTube channel advising others who might be considering a move into FinOps. Did you fall into finops or was it by design the you moved into the area. A keen interest in IT perhaps? My path to FinOps was a combination of luck and design. While working as an accountant, I enjoyed the people engagement side but was frustrated by the fact that we were often reporting figures after the fact – closing the gate after the horse had bolted so to speak. This prompted my first career pivot into analytics. My accounting qualification gave me a great understanding of how businesses work and a comfort with numbers. I took this base and built on it through acquiring skills manipulating large data volumes (ETL – Extract transform and Load) and developing data visualisation skills. These skills lead to my first career pivot into sourcing analytics. In this role I built data workflows to allow sourcing managers make better buying decisions based on what we had purchased in the past and planned to purchase in the future.  One of the categories I supported was IT Infrastructure with our largest spend being on public cloud. Given the size of the spend, this area began to focus more and more of my time. The more I learned about the public cloud the more opportunity I saw for someone who can wrangle large data sets, make sense of numbers, and communicate these to the business. I gained my FinOps certification and was approached about a FinOps consulting role in another company which is where I am now. What skills, intrinsic to an ACA, make you an effective proponent in the FinOps area? Growth mindset and continuing professional development is a key characteristic when working in the FinOps area. The cloud providers offerings are changing constantly as well as customers' IT infrastructure. All these changes need to be considered and appropriate actions taken to deliver the greatest value to our customers. What additional training did you have to do? If I was starting on the learning journey again the key steps I would take are as follows: Understand the basic concepts of cloud computing. I found this podcast (Cloudcast Basics) very useful AWS provide some free training material which would bring you through the various services in more detail Understand the kind of activities FinOps involves and get used to some terminology. Another podcast I found useful was Cloud Cost Optimization Take the FinOps certification course and exam to get accredited (the course is about $600 and the exam is about $300) Once certified you will have access to the FinOps community to show how to apply what you have learned. What is your take on the growing convergence between IT and finance/accounting? The rise of cloud raises a new challenge for finance. Previously, companies had on-premises data centres (private clouds) for which they would raise a Capex request which would go through the various levels of approval before the purchase is made. In the world of cloud, engineers are creating cloud resources with every line of code they write. The developer's priority is to make the system run while cost may be lower down their list. All these charges build on each other in opex leading to a growing cloud bill which may contain a rising level of technical debt. This is where FinOps comes in: to bridge the gap between the technical architecture and financial accountability. What advantage or differing insights do you have versus your IT professional counterparts in your current team? Being able to layer business context to the numbers and architecture is a major advantage. For example if a customer's cloud bill jumps all of a sudden, this may be due to a sale or promotion being run by the business. By understanding this context we can make better decisions. How do you see the area of FinOps evolving in the years ahead ? Is AI a threat to it or a boost? FinOps as a discipline has only been around since 2019 with earlier incarnations of cloud cost management only being a few years earlier. Given the early stages, the growth and foundational frameworks are still being put in place so it’s very hard to see where it will end. Given the volume of data being generated from cloud providers, data literacy will become more and more important. I can see AI having two major impacts in the FinOps space: AI being used a s a co-pilot to sift through vast data sets to find the anomalies that require action and optimisation All these AI models run on the cloud, guess who needs to monitor the efficiency of these cloud environments?… FinOps practitioners! I would liken it to being a shovel salesperson in California during the gold rush. A FinOps practitioner may not necessarily build the models, but they will be needed now more than ever. What does a typical month or quarter look like in the FinOps space? Daily monitoring of the customer's environment to optimise their cloud commitment mix to maximise savings Building data models to improve data points to allow better decisions be made for the above commitments Monthly/quarterly customer meetings where architecture changes are discussed to understand future optimisation opportunities No month end!! What career "stepping stones" would you recommend to a newly qualified ACA keen to get into this area? Much like my own additional learning I mentioned earlier, I'd try to grasp and learn the basic concepts involved in cloud computing; things like the Cloudcast Basics podcasts were helpful to me; The AWS training material can help boost knowledge of the services in a more detailed way; get your head around the terminology and get certified. That's really the key, as it can give you greater access to the community and opportunities within the industry. Donal Bourke is a Cloud Optimisation Consultant with NetApp Donal's YouTube channel, FinOps for Finance, gives an overview of FinOps, how it relates to finance, and how to pivot into a career in the growing space of cloud optimization.                                                 

Wednesday 6 September 2023 – Earning potential for Chartered Accountants working in Leinster remains strong, with an average salary package this year of €118,578. The results of a new survey published today shows a notable increase in the average salary package of newly qualified Chartered Accountants, rising 6.6% to €62,866 compared to last year. The survey of approximately 1,000 Chartered Accountants, launched today by Chartered Accountants Ireland Leinster Society in partnership with Barden, Ireland’s leading accounting and tax talent advisory and recruitment firm, provides the most up-to-date guide to Chartered Accountant salaries and employment prospects in the Leinster region.   Strong remuneration packages The research, conducted by Coyne, shows earning potential across the profession remains strong, with €118,578 the average salary package for Chartered Accountants working across all sectors. This figure includes base salary, car or car allowance, and bonus. The remuneration package of members who qualified in the past two years increased by 6.6% from €58,967 in 2022 to €62,866 in 2023. Almost 9 in 10 (89%) of respondents overall say their total remuneration has increased in the past three years, compared to 86% in 2022. Two in five (39%) said their salary had increased by more than 25% this year. And four in five claim their total remuneration is expected to increase within the next 12 months. As part of the remuneration package, over 60% expect to receive a bonus in 2023.   The vast majority (87%) of members have a pension, with employers contributing an average 9% of their salary. After basic salary, this pension contribution is the most valued part of their package for 50% of respondents.      High job satisfaction and flexibility  Job satisfaction was high across all the metrics amongst those surveyed, with 76% of members satisfied with their work environment (73% in 2022); 68% happy with the salary they receive (62% in 2022); and 64% happy with work/life balance (unchanged on 2022). Half of respondents have been promoted in the last three years, with promotion highest amongst those working in practice at 77%.  Flexibility has become embedded as a feature of working life, with 75% of respondents employing a hybrid working model, up 2% on 2022. Only 1 in 10 respondents express concern that time spent working remotely will impact on their career progression. 7 in 10 value location flexibility, and over half of all members value flexibility in the shape of their working day (compressed hours, core hours, flexitime).  Automation and productivity The survey also shows the accounting profession is benefiting from technological advances, with 70% believing automation will have a positive impact on their career and almost half believing AI and big data will free up capacity to focus on higher-value parts of the job.  Des Gibney, Chairperson of Chartered Accountants Ireland Leinster Society, said:   “This year’s survey points to continued strong earning prospects for Chartered Accountants in Leinster. I’m particularly pleased to note the increase at the newly qualified level. This increase will play a crucial part in ensuring our profession remains attractive to the next generation – and will help us retain our top young talent in a very competitive market.   “I am also really pleased to see automation being so strongly embraced by respondents. Almost half agree that it will allow us to move further up the value chain in terms of the work that we do. This is already happening, with the work of Chartered Accountants transformed in recent years. It is really important that we communicate the breadth of opportunity in our profession to the next generation.”   Elaine Brady, Managing Partner at Barden, said: “Despite the backdrop of almost constant uncertainty over the past 12 months, the demand for accounting talent seen in 2022 continued almost unabated. Standing out from the crowd and attracting this much sought after talent is a key challenge for companies throughout Ireland. Accurate data on reward can create competitive advantage for those who choose to use it, especially in times such as these. These insights can also help businesses and hiring managers to craft competitive reward structures to aid talent retention and to understand what is required when looking to attract talent externally.  “It is also extremely interesting to see that 10% of members are working fully remotely, while 75% of members have hybrid working arrangements. Companies that mandate five days in the office have been, and will continue to be, at a significant competitive disadvantage when trying to attract accounting talent. To mandate five days in the office is to effectively reduce the talent pool available to you by 85%.” ENDS    Note to editors  The survey was conducted by Coyne Research on behalf of Chartered Accountants Ireland Leinster Society, in partnership with Barden, between 19 July and 14 August 2023.   About Chartered Accountants Ireland Leinster Society   Chartered Accountants Ireland Leinster Society is a district society of Chartered Accountants Ireland, representing over 16,000 Chartered Accountants throughout Leinster.     Chartered Accountants Ireland is Ireland’s leading professional accountancy body, representing over 32,000 members around the world and educating 7,000 students. The Institute aims to create opportunities for members and students, and ethical, sustainable prosperity for society. An all-island body, Chartered Accountants Ireland was established by Royal Charter in 1888 and now has members in more than 90 countries.     It is a founding member of Chartered Accountants Worldwide, the international network of over one million chartered accountants. It also plays key roles in the Global Accounting Alliance, Accountancy Europe and the International Federation of Accountants.     Chartered Accountants Ireland members provide leadership in business, the public sector and professional practice, bringing experience, expertise and strict standards to their work for, and with, businesses in every sector. Chartered Accountants Ireland engages with governments, policy makers and regulators on key issues affecting the profession and the wider economy.   About Barden Barden is a partner led talent advisory and recruitment firm consumed with supporting companies that really know the value of their people. Barden’s expertise covers Accounting, & Tax, Business Support, Financial Services, Legal, Life Sciences, Supply Chain and Technology talent advisory and recruitment. Chartered Accountants specifically choose to join Barden in order to use their qualification in a different way.   Barden has proudly partnered with the Chartered Accountants Ireland Leinster Society, for the last seven years, to bring you the annual salary survey. Barden also works closely with Chartered Accountants Student Society of Ireland (CASSI) and Young Professionals to make sure their members get access to the right information, at the right time in order to make more informed decisions about their professional future.  

What is a non-executive director? A non-executive director (NED) is a member of the board and is not involved in the daily operations or management of an organisation. Instead, their focus is on advising the CEO and management team whilst providing an independent perspective during the decision-making process. A non-executive director can come from a range of backgrounds and will typically require diverse experience at a senior level. There are some skills however that are essential when it comes to being an effective non-executive director. Examples of these skills are as follows: Independent mindset, objectivity and integrity. Diplomacy, tact, and negotiation skills. Commercial and business understanding and insight. High level interpersonal, communication and listening skills. Strategic thinking and analytical capabilities. Curiosity with the ability to challenge and seek clarity. Governance and regulatory knowledge. Obtaining a role on a board The market for non-executive directors can be quite competitive and it can be particularly challenging to land your first non-executive director role. Once you have secured your first board role and have developed relevant experience, subsequent appointments will become easier to obtain. For many non-executive directors their initial experience is gained on the board of a charity or not for profit organisation where they join in a voluntary capacity. This can also often take the form of joining the board of your local sports club or school and utilising this opportunity to build on your experience, which you can later leverage to secure a board role in other commercial or larger organisations. Importance of your network Board roles are very often secured through contacts, so an important part of the process of sourcing a board role and building your portfolio is to ensure that you have a strong network of contacts that you can tap into. In many instances a personal recommendation or introduction is the first step to successfully securing a board role. If you are planning to build a career as a non-executive director, it is essential that you start investing in your network as early as you can. Tailor your CV specifically to board roles As with all application processes it is important to have a CV ready to circulate should you be asked to apply for an opportunity or if you come across details of a role that you are interested in. It is advisable to have a tailored version of your CV that specifically highlights and showcases your experience and skills from the perspective of the requirements for a board role. In other words, your CV is specifically crafted and written with board roles in mind. Upskilling/staying up to date There is a strong onus on non-executive directors to remain up to date in their area of expertise, as well as from a governance, legal and regulatory perspective. This can be achieved through the exposure you gain or have gained within your own full-time role, attending courses and indeed by reading material available through a wide range of resources, many of which are available online. Find a mentor A mentor can be a valuable resource when it comes to getting advice and guidance either in relation to securing your first board role or indeed as you navigate the intricacies of the board room. Leveraging the skills, knowledge and experience of another professional who has extensive experience in this area can be hugely beneficial. Institute support The Careers Advisory and Recruitment team are available to provide guidance and advice. Email careers@charteredaccountants.ie to arrange a confidential consultation. Relevant links: https://www.charteredaccountants.ie/professional-development/Career-Development/Careers-Advisory https://www.charteredaccountants.ie/professional-development/Career-Development/Careers-Advisory/Mentoring https://www.charteredaccountants.ie/professional-development/cpd-courses-and-networking-events

When it comes to attracting and retaining top talent, we know that this can be challenging. To help with this, Chartered Accountants Ireland offers a wide range of trainee recruitment supports to Registered Training Organisations (RTOs). Trainee Recruitment Support As a Registered Training Organisation (RTO), we strive to offer you practical talent management supports to help, including: •            Free online listing for live training vacancies; •            Social media profiling and showcase opportunity; •            Promotion of the profession at 2nd and 3rd level; and •            A relationship team who can provide more tailored assistance. Summer marks the opening of our enrolment season in advance of the annual trainee intake each Autumn – this year the registration deadline for the 22/23 academic cycle is 12 September. There is a high level of engagement from quality candidates seeking to explore Chartered Accountancy training opportunities. The Institute engages with these prospective students through a variety of initiatives, including a series of Virtual Open Days, and dedicated social media channels. Should you wish to have your organisation profiled across our social media channels, please reach out to a Relationship Manager (contact information below). We have a ‘Training Vacancies’ webpage, where employers can create their vacancy listing directly. This listing is one of the most highly trafficked pages on our website and is a go-to reference point for prospective students. Simply upload your vacancies on the Institute website. If you experience any difficulties, please get in touch. Incentive Scheme In addition to the assistance outlined abvove, we are also able to support employers with a monetary offering. The 2022/23 Incentive Scheme is currently available which rewards RTO employers for taking on incremental Training Contract students over and above those recruited in 2021/22. This offering provides a credit of £900/€1,000 for each additional trainee recruited for the 2022/23 intake (up to a maximum of four additional trainees). Your organisation could benefit from up to a £3,600/€4,000 credit. Funds are limited and available strictly on a first-come-first-served basis. So, registering early is vital. Please do this by emailing incentive@charteredaccountants.ie, stating your organisation’s name, and the number of trainees you plan to recruit. Alternatively, you can liaise with your local Relationship Manager. Note: The credit will be applied to your account before the end of Q1 2023, after the trainee has enrolled and registered their Training Contract. Education fees are payable on invoice but the incentive credit, once applied, can be used on any further charges raised on your organisations account. Full incentive details are available on our website, along with a summary of employer supports available. We appreciate your ongoing support and very much value our relationship with you – we look forward to continuing to work together. Should you need assistance with outstanding recruitment or wish to discuss further the various offerings available (or indeed any other matters) please reach out to your region’s Relationship Manager – we would be pleased to engage and help. Relationship Management Team Chartered Accountants Ireland Robert Crosbie - Dublin & regions south of Dublin +353 86 0487899 / robert.crosbie@charteredaccountants.ie Sinead Fox-Hamilton FCA - Dublin & regions north of Dublin (inc NI) +44 7719 531 735 / sinead.fox-hamilton@charteredaccountants.ie

As a newly qualified Chartered Accountant, Paul Barron ACA was offered a position in Costa Rica. He packed his bags for Central America and now reflects on his experience - with some insights and advice for others in the same position. I trained as a Chartered Accountant with KPMG, qualifying in 2014. Shortly after finishing my training position, I took up a position with Fyffes (the banana people!) as an internal audit manager. This position involved travelling to the various Fyffes locations worldwide, performing controls testing as well as inquiring and then reporting back to the Board of Directors with my findings. After nine months in this role, I was offered a longer-term position as Financial Controller in Costa Rica. It seemed like a great opportunity to have a new experience and progress my career, so I went for it. I was nervous of course, but I spent three years in this role before returning to Head office in Dublin in March 2020.  Overall it was a great experience and I am very glad I did it, and here are my thoughts on the benefits and challenges of working abroad as a Chartered Accountant. Benefits and opportunities Excellent work opportunity – I managed a team of 12 people and was a central part of our operations in Central America. My willingness to relocate afforded me the chance to have a very stimulating and dynamic job which I don’t think I would have been considered for, at that stage of my career (1-year PQE), in companies of a similar size had I remained in Ireland. I got valuable management experience and really had to hit the ground running, which has stood to me since. Experience and exposure to interesting, varied work. I think I might have been exposed to some of these in a standard setting but going abroad to Costa Rica meant I was doing standard work in a non-standard (for me) environment like a large-scale farming operation or getting to see the tangible links between the finance team and the operation itself. During my three years in Costa Rica, I: got hands-on FC experience reviewing a large farming operation had the opportunity to manage a cross-cultural team was exposed to and given the opportunity to manage large capital projects interacted with most of the departments within the business and learned more about how they work Experience of a new culture and a new language Spanish was the language in the office and the operation, so I took classes and worked extremely hard on getting to a conversational level in my first six months working in Costa Rica. I like languages and have French in my primary and master’s degrees, so this was very enjoyable but also tiring and a big challenge I lived and worked in an area of the world about which I knew very little before relocating – it was enjoyable getting to know about a new culture, food, people and traditions and I’ll always have a nice connection with Costa Rica and  friends made along the way. Challenges The first nine months were exhausting with getting to grips with a new job that entailed a lot of responsibility; learning a new language; settling into a new home and trying to make new friends. I’d recommend a long holiday after about six months if you are considering relocating.  It takes some time to adjust to working within a cross-cultural team. I enjoyed the different outlook as time went on, but at times different approaches to tackling problems surprised and sometimes frustrated me. It was definitely a learning curve I was lucky that I had some Irish colleagues in the Costa Rican office. This certainly helped but integrating into a very different culture was tough and isolating at times and should be considered before relocating.  In summary Overall, I am really glad to have done it. I feel privileged to have been offered the opportunity to experience working in Costa Rica. Going to a different language, culture and climate all give rise to moments of culture shock and homesickness, but also moments of real enjoyment. You do need to be realistic about the pros and cons but also resilient and somewhat brave.  Having the comfort of my ACA qualification and Institute membership, my Irish colleagues in Costa Rica and my company support both there and at home all made the move much more accessible. I could have come up with as many reasons to not go as to go, so I have no regrets but am happy to be home! The experience in Costa Rica did definitely help me to establish and progress within my career and I know will continue to stand to me. I may still keep my eyes and ears open for other international opportunities. Institute supports I found the Career service very helpful throughout. I spoke with Karin Lanigan on average three or four times a year and still do on my career development. It has been extremely useful to help me plan my career and also have a sounding board when decisions have to be made. It is a great and unbiased service which has been a real help to me. In particular, it helped me plan my move home - which can be as challenging a transition as the initial move.

This article is part of a package of events and resources forming the Young Professionals careers week running 14-18 February 2022, kindly sponsored by PeopleSource. You can see all that is planned for the week here. Given the hard work and determination required to become a Chartered Accountant, it is gratifying and reassuring to know that your qualification truly is an international passport that will open up career opportunities for you right across the globe. This is evident from our member data that tells us that of our over 30,000 members just under 5,000 are based overseas in locations dotted all around the globe. Almost 70% are based in the UK, US and Australia with more based across Europe and others in Hong Kong, Malaysia and New Zealand. Chartered Accountants can end up in many interesting places.   Your qualification will open doors for you globally - International recognition  Chartered Accountants Ireland has established mutual recognition agreements with many other Chartered Accountancy bodies worldwide to support the global mobility of the qualification.  As a Chartered Accountant, you are also automatically members of Chartered Accountants Worldwide, Chartered Accountants Worldwide Network USA. Chartered Accountants Ireland is part of the Global Accounting Alliance.   Profile of our members working abroad From our member data it is evident that our members overseas are benefiting from the opportunities that their qualification has provided. We can see that they are working across a range of sectors and industries with over 70% working in business and a high proportion of members are in senior level roles.  We know from our engagement with members overseas that they are enjoying successful careers and making the most of the opportunities both professionally and personally. It is really interesting to see the diverse range of career paths they have followed and to hear about their lived experiences abroad. We constantly receive feedback from members telling us how much they like to hear about the career paths and experiences of other members, so we have started building a library of members profiles. Click here to learn more. Maybe your story can feature soon?  Leveraging the Chartered Network Chartered Accountants Ireland has a growing number of network groups globally and in recent years this network has seen a fourfold increase. For example, we now have active District societies and network groups in London, Europe, USA, Australia, UAE with the most recent groups being set up in Wellington, Switzerland and San Francisco. If you are planning to travel you can access a network of other Chartered Accountants in a wide range of locations.  See international networking in action: coffee roulette Australia has always had great appeal for Irish Chartered Accountants, and there is a thriving network there always eager to help newcomers to settle in. If you are considering the move “down under", you may be interested to see how these networks work in practice. The Australian society are hosting a coffee roulette on 24 February at 8am (Irish Time). The topic this time is "The Career Landscape in Australia” and you can join the conversation here. The format is an informal yet focused 30-minute chat over coffee. Barry Dempsey, CEO Chartered Accountants Ireland will join the chat on the day and would be delighted to meet you.  You can register for free for this event here. Benefits of the virtual world In recent years it has become easier than ever to source a role overseas. It is now even possible to secure a role before you travel thanks to the prevalence of virtual interviews. Employers are now much more open to making hiring decisions following a virtual interview. You can also gain access to a wide network of Chartered Accountants via our networks and LinkedIn before travelling. Through the virtual delivery of our CPD and diploma programmes you can keep up to date with your CPD requirements easily too. You can also subscribe to a regular newsletter specifically for members living overseas from us keeping you up to date on recent developments and upcoming events.   Supporting you at every stage of your career The Institute’s career development and recruitment team can help you to prepare in advance of seeking a role abroad. They will provide you with advice and guidance on the steps involved and can help with your CV and interview preparation. Through our mentor programme you will also be able to speak with other members living and working abroad.  The world is your oyster If you are interested in travelling and working overseas your qualification offers you the opportunity to do just that, whether it is a short term or indeed a long-term move. You have the potential to explore a world of opportunity and we will be here to support you as you do so.  Resources available:  Overseas Members News   Chartered Accountants Worldwide (CAW)  CAW Network USA   GAA  Career Development and Recruitment Service 

This article is part of a package of events and resources forming the Young Professionals careers week running 14-18 February 2022, kindly sponsored by PeopleSource. You can see all that is planned for the week here.   Off to a positive start  From a job market perspective, we are kicking off 2022 on a positive note. There have indeed been challenging times over the last two years as result of the global pandemic. When the pandemic surfaced in February/March 2020 there was an initial significant slowing down in the market for a few months which was followed by a gradual return of recruitment activity later in 2020. Then throughout 2021 the market bounced back, and we saw a considerable increase in the demand for talent.   All the indications now are that this bounce back is set to continue into 2022 and beyond as we appear to be moving out of the pandemic and the economy rebounds. Rachel Tubridy, MD of Finance recruitment firm PeopleSource, feels ‘2022 has had one of the busiest starts to a year in the last 10 years’, which means the good news is that as young professionals you will have a range of opportunities open to you.  The Institute Careers team has put together the following market information and insights to help you make the right career decisions and to ensure that you are fully aware of the developments and trends in the job market so you can maximise the opportunities and avoid any pitfalls.  Overall salary trends  Salary levels are on an upward trajectory which has been driven by demand for talent, a shortage of strong accounting and finance talent and higher costs of living and rising inflation. The Central Bank recently hiked its inflation forecast for 2022 to 4.5%.  This will obviously continue to have a knock-on impact on salaries. Many organisations are beginning to offer salary increases in the range of 5%, with some even offering between 10 and 20% to entice new talent into their organisations.  PeopleSource would caution here not to make a career move for money alone.  Company culture, role content, career progression and benefits should all be considered.       Benefits packages  In an effort to retain and recruit top talent organisations have been focussing on building out their benefits packages. This includes not only adding further benefits but also looking at ways in which they can be creative when doing so and putting more thought into what it is exactly that employees are looking for. This can range from more traditional benefits such as health insurance and pension contributions to Deliveroo vouchers and more flexible working arrangements.  Focus on career progression and development  Organisations have also now become much more attentive to the employee’s desire to progress, particularly those at an early stage of their career who wish to advance. This is good news for newly and recently qualified Chartered Accountants who are seeking to move their career forward. Employers are increasing their learning and development budgets and investing in leadership development programmes, coaching and mentoring as well as building out training to support the development and growth of new skills in technology, IT, data analytics, sustainability and health and well-being.  PeopleSouce said ‘employers understand candidates are not looking for a job for life, but they should aim to give and get the most out of their time with the company. Companies also hope one day you might even return, there has been an increase in ‘boomerang’ employees who have gone elsewhere, gained further experience and then returned.’   Hybrid and remote working  Unsurprisingly, the big topic of conversation between employers and employees at the moment relates to working from home and agreeing hybrid working arrangements. For many organisations this is still being worked through in response to the very dynamic public health situation. Over the coming weeks and months their approach will become clearer and may need to adapt to outside circumstances. However, the overall sense in the market currently is that the vast majority of organisations will land on a hybrid model where employees are typically in the office two or three days a week with the remainder of their time spent at home. PeopleSource mentions, it is worth noting many employers feel a ‘new starter’ with a company would benefit from more time in the office to begin with to learn the ropes and build relationships.  This can be tricky for candidates based a long way from the office, trying to find short-term accommodation.  The more flexible you are the more opportunities you will be able to avail of.  Naturally this goes for employers too, those who do not embrace a flexible approach will run the risk of losing talent to other organisations as employees seek to avail of this more flexible approach to the logistics of work.   Sectoral review  The sectors where we have observed growth include:  Practice, audit, tax, advisory, corporate finance  Pharmaceutical and healthcare  Technology and fintech  Financial services/Insurance  FMCG and transport  Energy  Sectors that have been challenged but are bouncing back already:  Hospitality, hotel and leisure  Retail  Travel  Practice   The practice market is experiencing significant growth and there is strong demand for talent in practices of all sizes, in cities, regionally and in Northern Ireland. There are opportunities to develop your experience across all areas of practice from audit, advisory, tax and other emerging areas too. There are attractive salary and benefits packages on offer combined with a focus on career development initiatives and progression. Similarly, many firms are embracing flexible working arrangements and work-life balance initiatives.   Industry and commerce  There has been a strong demand for Chartered Accountants at all levels across a wide range of sectors in the cities, regionally and in Northern Ireland.  However, where demand is strongest is at the recently qualified level, with members with up to five years post-qualification experience being most in demand. This has placed upward pressure on salary levels, and we have seen salaries increase as a result. Typically, increases have been in the region of 5%, however in some cases we have seen double digit increments.  Financial services and banking As a result of Brexit, we have seen and will continue to see growth in fund management, insurance and institutional banking. Similarly, the fund administration market has been resilient and is set to grow further in 2022. There has also been an increase in risk and compliance roles in this sector and this is likely to continue. We also anticipate new opportunities arising as a result of a focus on environmental, social and governance (ESG) initiatives.    International opportunities – Increased levels of mobility  With the lifting of travel restrictions across the globe we have already experienced new opportunities arising for young professionals. Organisations in the UK, US and Australia are seeking to recruit Chartered Accountants and are offering attractive packages for those willing to travel. The ACA qualification is well regarded and is your international travel passport. As the world continues to emerge from the pandemic, we can expect to see the pent-up demand to recruit leading to further excellent opportunities internationally and many Chartered Accountants will be looking to travel now that many countries are opening up again. Overall, we can expect greater levels of mobility across the profession.  Contract roles  There is a constant demand for Chartered Accountants who are interested in contract roles, and this is the case in practice, industry and financial services. A contract role can be beneficial if you are looking for a stopgap between roles or before or just after you travel. They are an excellent way to gain additional experience, potentially in a new area and can often lead to a more permanent role too. There are interesting contract roles available in the area of projects, business transformation as well as in more mainstream finance roles. These roles can often tend to attract a premium in terms of salary.  Some examples of the roles we have recruited for recently:  Financial accountant & Group Reporting Accountant   Financial Analyst & Finance Business Partner, Financial Planning and Analysis Accountant  Management Accountant & Commercial Accountant  Project Accountant/Systems Accountant  Internal Auditor and Internal Controls Accountant/Analyst, Risk Analyst  Client Accountant  Finance Manager and Financial Controller  Audit Senior and Audit Manager  Tax Senior and Tax Manager  Corporate Finance Executive/Manager  New and emerging areas to watch out for As you plan your career and consider how best to futureproof your progression, it is worth noting the emerging areas of opportunity. Currently these relate to data analytics, technology, cyber security, risk and internal controls, business partnering and of course, sustainability. New opportunities and roles are increasing in these areas and Chartered Accountants are ideally positioned to drive their careers forward as they continue to grow and evolve.  Outlook for the rest of the year The outlook for 2022 is positive and this projection is supported by recent economic projections for the economy. The likelihood is that recruiting and retaining talent will continue to be a challenge for organisations as the economy continues to rebound. When considering your next career move there are many factors to reflect on. Salary and benefits are obviously a significant part of that process, but you should also think about career progression and development opportunities, job satisfaction and fulfilment and work-life balance.   Thank you to PeopleSource for their support of Young Professionals Careers Week.

This article is part of a package of events and resources forming the Young Professionals careers week running 14-18 February 2022, kindly sponsored by PeopleSource. You can see all that is planned for the week here.   Organisations and individuals alike are increasingly recognising the value that comes from engaging with a mentor. According to Wikipedia ‘a mentor is someone who teaches or gives help and advice to a less experienced and often younger person’. In an organizational setting, a mentor influences the personal and professional growth of a mentee. In recent years there has been a growing recognition of mentoring and the positive impact it can have both from a personal and professional development perspective, including how engaging with a mentor or indeed being a mentor can help to enhance your career success. Many organisations have developed their own mentor programmes to support the development of their talent, and in a market where talent attraction and retention are a major focus for employers, this approach makes sense and as you will see, has proven successful and had tangible benefits.  The benefits of mentoring  The benefits of mentoring are extensive both for the mentor and mentee. A snapshot of those benefits include:  Benefits for the mentee  Access to an independent sounding-board and feedback who understands you or your situation  Improved confidence and clarity in relation to identifying goals and how to achieve them  Feeling supported and more motivated to achieve goals  The opportunity to gain new perspectives, ideas and insights  The platform to develop relationship management skills and build on your network  Benefits for the mentor  Potential to develop your listening skills and encourage you to provide constructive feedback  The opportunity to give back to your organisation and profession and to develop talent   Provides a sense of fulfilment and purpose and can be motivational  Obtain new perspectives and insights from the mentee   Developments in mentoring  Group mentoring  Group mentoring is where mentors and mentees meet in a group, rather than in pairs. It has become more widely used in recent years as it can be an effective way in which to scale the benefits of mentoring. Not only that, the group dynamic can help to accelerate the sharing of insights, guidance, advice and ultimately the learning obtained. Group mentoring can provide enhanced exposure to various levels of expertise and knowledge as each mentee brings and shares their own skills and lived experiences with the group. Another important benefit of group mentoring is the potential to widen and deepen your professional network. The move to the virtual world in recent years has certainly accelerated the growth in group mentor programmes, many of which are being run by international organisations, representative bodies, networking groups and employers.  Reverse mentoring  In a rapidly changing workplace reverse mentoring has also proven to be beneficial. The concept behind reverse mentoring is that younger members of the workforce act as mentors to their more senior colleagues and provide insights into such areas as technology, the future of work, engaging with and being relevant to younger generations. This approach has proven to be beneficial to organisations as they seek to be relevant to and connect with the younger generations. It can also assist in terms of developing strategies and initiatives to recruit and retaining younger talent. As with all mentoring, reverse mentoring can be beneficial for both the mentor and mentee. In this instance it provides the mentee with valuable insights from a younger generation and the mentor also benefits as the experience can boost their confidence and help them to feel they are influencing key decisions both for the mentee personally and for the organisation. Reverse mentoring can also prove beneficial when it comes to raising awareness and the understanding relating to diversity and inclusion topics and other contemporary issues. For example, it can help to improve senior leadership’s understanding of minority issues, including LGBTQ+ and ethnic minorities.  Positive feedback from the Institute mentor programme  The Institute offers a Career Mentor Programme to all members, which provides access to over 150 experienced Chartered Accountants with a diverse range of experience across a wide cross section of industry sectors both in Ireland and overseas.  From our interactions with members who have availed of the Institute Career Mentor Programme, we have seen first-hand the benefits of mentoring. The feedback from mentees consistently speaks to such benefits as having the opportunity to gain an independent perspective, clarity in relation to career goals and the support, confidence and motivation to maximise their potential. One member explained that ‘it helped me to get clarity in relation to my career goals and what I need to do to achieve these goals’.   Institute Career Mentor Programme  The Institute operates a Career Mentor Programme with a database of over 150 mentors in Ireland and overseas. The mentors have vast experience across a wide cross section of industries, sectors, disciplines and locations. They have agreed to make themselves available to other Chartered Accountants to provide guidance and support as they develop their career.  To avail of a mentor or to volunteer as a mentor  The Career Mentor Programme is available to all members as part of a wider range of careers supports. Likewise, if you would like to volunteer as a mentor, contact us via email to our careers team. For more information click about mentoring, click here. Resources available  Link to a webinar on mentoring  Mentoring article 

Dave Riordan ACA, Recruitment Specialist & Career Coach, Chartered Accountants Ireland Careers Team, writes: Recruitment into practices, large and small, is a challenge in the current climate. We know this. So what can we do to make our recruitment processes easier and more effective? Here are some tips that I deem essential to attracting and onboarding suitable additions to your team: The senior management team should incorporate into their Practice Strategy some core objectives and KPI’s on the firm’s candidate attraction (and retention) approach. This needs to be a permanent fixture in quarterly management meetings for the firm and constantly updated. Conduct one comprehensive, all encompassing, interview that allows you make a quick decision about the candidate – no second interview needed. This way you have a time advantage and first mover advantage versus competing practices. As well as traditional jobs boards, use social media channels to get the word out LinkedIn, Instagram, Facebook, Twitter etc. Align your message across each and post simultaneously to each platform for full reach to your audience on the same day. Develop your Practice Brand as an employer of choice in the practice-sphere. This will mean differentiating your firm to increase attractiveness. Train your own – take the longer term view and hire trainees to grow them in your culture. Hire Part-time/ flexible workers – the world is shifting towards the ‘gig-economy’ mindset, so why not employ FCAs who are seeking part-time roles? This way, you can benefit from the vast experience they can bring to the role, and they benefit too as they can balance their role with wider family needs. Many members are now very focused on work-life balance and, even if they are nearing retirement, they could be in a position to contribute some of their best years to your firm. Many FCA’s with 30 years+ experience would be delighted to contribute a wealth of experience to a role in practice for a few days a week, and it doesn’t necessarily need to be at a senior level. Flexible core hours or work to facilitate school drops and pickups are another obvious element in this. Consider ‘Returners’ (members who have been off work travelling or developing home life for a few years). They may often be a ‘little’ flexible on salary to get a foot back on the ladder that then enables them to restart their career. Returners not only have a wealth of experience to bring to a role, but they also have maturity and life experience that can be hugely beneficial. If it’s hard to find the Audit and Tax people you are seeking, why not start to build a branded presence on LinkedIn. Raise the profile of your firm so that ACA’s are aware of it and how good your practice is to work for from an early stage in their career. This will ensure you tap into a pool of passive candidates and attract interest over a period of time. Offer different elements in your remuneration package: e.g. gym membership, social Fridays each month, pension, commission structure, phone paid etc. Often a well run internal candidate-referral reward scheme can be a highly effective way of incentivising current employees to bring in ACA’s that they feel would be a fit for your firm. Done well, this can extend your reach into the market for candidates significantly and also help maintain a consistent culture. Use a highly regarded recruitment agency. Partnering with an agency closely can be very advantageous in the market if you do it right! Some tips on this: Meet the consultant you are working with; Have a regular scheduled update call (e.g. weekly); Accept speculative CVs from the agent; Be flexible on the fee rate. If you get an exceptional candidate they can be worth it and remember it’s contingency based, so no fee is applicable if the process is incomplete; Keep updating the agent about the news in your firm; Offer to work exclusively with the recruitment firm, but ask what steps they will go through to find/headhunt the right candidate for you; Make sure you have created an excellent job spec and offer to assist with the advert text; Recruiter fees can appear high on the face of it, but a good recruiter can allow you get on with the day job of billing clients while they streamline the candidate selection process saving you time and money; Make the partnership a positive one where you share background (but always confidential) information with the recruiter, ensuring you are on the same page & wavelength regarding the person and role; If you trust your recruiter to know what you are looking for and he/she recommends a candidate that does not look like an obvious fit on paper, give the recruiter the benefit and trust their judgement and meet them. I would also be generally open minded on applications. For example, if a candidate is not a right fit for your current active role, consider whether they might be suited to your firm in a different role where they will add value, or perhaps consider them as a short-term contract addition to the team if that could alleviate a work backlog for you. Candidates in the practice market in 2021/22 are savvy and have built shortlists of their preferred employers that match their career pathway. You need to be on their shortlists as an employer of choice. As an interviewer, be clear and well-practiced in the selling points and differentiators of your firm and communicate them warmly during the meeting. Refine your interview techniques and get honest feedback on them to ensure the interview experience for the candidate is a positive professional reflection of the organisation. As an additional guide I can highly recommend a Chartered Accountants publication by Mary E Collins – “Recruiting Talented People”if you are looking for additional detail. I always recommend looking for opportunities each quarter/year to stay close to the Institute, and so partnering with the Careers Team in Chartered Accountants Ireland for your recruitment needs is a good idea to ensure you are attuned to the market, and first in line for ACA candidates who prefer to tentatively explore a practice career move with the confidentiality and assurance of their own Institute. If you would like to speak to the Chartered Accountants Ireland Careers Team, please email us at careers@charteredaccountants.ie.  

As a newly qualified ACA, you may look to decide whether to stay with your training practice or make a move into industry, financial services or even move to another firm.  Largely, the state of the employment market has a bearing on this decision and must be taken into consideration. In normal times, traveling or spending a year away would be another option. Currently however the choice facing most 2020/2021 newly qualified ACAs is whether to remain on a practice career path or make the move into and industry role. Here are a few points to consider in this regard:PracticeBeing invited to stay in your training practice is a positive endorsement of your track record and calibre With exams finished, staying in your firm will allow you the time to focus on client relationships and to  add new softer skills to your repertoire, like people management or delivering senior level presentationsPractice can sometimes be regarded as slightly more insulated from harsh market forces, but it is important to note that the professional services sector is impacted by any economic dips too The path is clear in practice. There is a hierarchical ladder to climb with regular increments and you know what your next step entails. If your plan is to achieve partnership, the path is clearly defined  If you enjoy interacting with clients, the practice model of client relationship management is very rewarding Working with multiple clients and evolving varied projects in practice provides nice variety and many ACAs enjoy this new monthly change. Moving to a new firm can give you an exciting new client portfolio to representIndustryThe earlier you move into industry after qualification the easier the move will be and the more options you will have Remaining in practice to senior management or director level can make it slightly more difficult to take that step into industry although far from impossible  A move into industry can introduce you to business and strategic decision making. Involvement in the commerciality of the business itself can become a feature of a move to industry  There is greater variety and flavours of roles and titles in industry and financial services Moving into industry, you can find a company or organisation with a culture and energy that really fits your personality and strengths You can forge a new career path towards FD, CFO or head of finance positions. It may allow you use your qualification in a very different way ultimately ending up as CEO of a  charity for example or even leading a semi-state body as is the case with FCA Imelda Hurley Pay in industry and particularly financial services is usually a little better than practice equivalent roles There is no right answer in deciding whether to stay in practice or to move to industry. Both have their merits and it really depends on the person. It is worth noting that once you make the leap into industry it can be a little more difficult to go back in to practice. As always your Careers Team is here to advise and discuss decisions like this and any other career related issues so don’t hesitate to contact us upon qualification. Dave Riordan (ACA) Recruitment Specialist & Career Coach