Sam Jeffrey
Consultant
Queens Court, 24 Queen Street, Manchester, M2 5HX
- Specialism: Finance & Accountancy
- Sector: Commerce & Industry
- Roles: Interim, temporary, contract and permanent
- Location: North West
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Insight in Finance & Accountancy
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Your guide to building a successful Finance & Accountancy career within the public sector
Are you interested in a Finance & Accountancy career within the public sector but not sure what opportunities are out there? Many Finance & Accountancy professionals like you are the same and are often surprised to hear that the sector has a wealth of opportunities. In this blog, Liam Cox, one of our expert Finance & Accountancy Recruitment Consultants talks through some of the questions he regularly gets asked by candidates, and offers his advice for achieving a successful career within the public sector. Careers within the Finance & Accountancy sector can vary considerably, with jobs both in the private and the public sector. At Sellick Partnership we have a wealth of experience placing Finance & Accountancy graduates and highly skilled finance professionals into public sector organisations and are regularly asked about the career opportunities within the sector. In this blog, I wanted to go through some of the questions I often get asked by candidates, and showcase the public sector as a rewarding career choice for Finance & Accountancy professionals of all levels of seniority and experience. What is the best way a junior candidate or recent graduate can get a Finance & Accountancy role within the public sector? There are various ways a candidate can begin their Finance & Accountancy career within the public sector, ranging from apprenticeships straight through to university degrees. Here is some advice on a few of the most common routes into the profession. Straight from school: as the Finance & Accountancy jobs market becomes increasingly more competitive, more-and-more public sector organisations are choosing to recruit candidates straight from school, offering school leavers an early career opportunity within the sector. This is beneficial for two reasons. Firstly, school leavers will generally demand a lower salary than an experienced candidate and secondly, businesses have the ability to train these candidates as they see fit. This is a great opportunity for any candidates currently in school that may not be interested in further education. Opportunities like this are coming around fairly often, particularly within local authorities who are very keen due to the financial pressures they have with regards to recruitment, but also because the apprenticeship levy dictates that a certain amount of apprentices must be employed in the finance function. The best way to find out about opportunities like this are to contact the Council directly (normally HR), or have a look on apprenticeship websites/job boards or the government website. From college: this is one of the more common routes for candidates that are looking to begin their career within Finance & Accountancy. Some colleges will offer candidates the opportunity to study for an entry level finance qualification (such as AAT, Association of Accounting Technicians). These courses generally require candidates to learn on the job within a workplace via an apprenticeship. Candidates that decide to go to college can also choose to study study A Levels or BTECs in Finance & Accountancy, giving them an in-depth and thorough knowledge before entry level roles. This is a relatively common occurrence on most entry level candidate CVs and candidates with qualifications like this are highly sought after. From university: there is no written rule to say candidates interested in a Finance & Accountancy career must attend college or university but it will definitely add some value to a CV. Public sector employers are looking for candidates that are academic and can do the role advertised, so a decent degree in maths (or a related subject) will help. If you are thinking about a career in finance and have recently graduated, you may be interested in reading this blog looking at whether a graduate scheme or a graduate job is right for you. How can a senior Finance & Accountancy candidate secure a role within the public sector? A senior candidate looking to secure a role in the public sector would need to put some real thought into a couple of things. First of all, the kind of organisation and individual sector they would like to go into (as each presents different challenges, be that financial pressures or the different kinds of stakeholders they would need to get involved with). Candidates also need to consider the size of the organisation they want to work for and the value they could add to ensure they choose the right workplace for them. A well-written CV highlighting duties and responsibilities as well as key achievements will really make candidates stand out from the crowd. A well-written cover letter that is to the point is also beneficial to compliment a candidate’s application. It is important that candidates explain why this role takes their interest, what value they could add and why previous achievements confirm this. It really shows commitment to the recruiter or hiring manager reading the CV and proves that the applicant has applied for relevant roles and has not just sent their CV out randomly. For more help on finessing your CV, check out our handy CV guide and downloadable CV template here. Senior candidates seeking a move into the public sector can find many opportunities to break in, more so now than ever. Plenty of organisations are seeing the benefit of bringing in a commercial mindset and approach to the finance function, particularly within housing associations and the not-for-profit sector, where the approach differs slightly from other public sector organisations. Do Finance & Accountancy candidates in the public sector have to be ACA, ACCA, CIPFA or CIMA qualified? As with all career paths within Finance & Accountancy, the more senior the candidate, the greater the need for them to be qualified, and the public sector is no exception. There is currently a lack of highly skilled qualified candidates in the public sector, which offers candidates that are committed and willing to take this route a great opportunity. At the junior end however there are plenty of roles that candidates that are not qualified can thrive in, including Assistant Accountants, Finance Officer, Assistant Management/Financial Accountants, or general clerical roles. Good organisations also know it is crucial to ‘grow from within’, so we are finding a lot of development roles where organisations are offering candidates funding or study time towards exams. How can Finance & Accountancy candidates get qualified? Candidates can qualify by studying with a relevant exam body (ACCA, ACA, CIMA for example) and then sitting a series of exams. It is a fairly lengthy and rigorous process to become a fully qualified accountant with a number of different levels which will have different exams throughout the process, each of which can be expensive. More-and-more public sector businesses are offering study packages as they know it is crucial to ‘grow from within’. This is beneficial for obvious reasons (it allows businesses to mould employees to their way of working), but by investing in the candidate it often means they have a greater degree of commitment. This way also allows candidates to learn from highly experienced professionals, whilst studying, a win-win situation. The best way to find opportunities like this is to keep an eye out on job boards for ‘assistant’ or ‘trainee’ roles. Candidates should also let recruiters work on their behalf which can often speed up the process. The most common qualifications within the sector are CIMA (Chartered Institute of Management Accountants), ACA (Association of Chartered Accountants) and ACCA (Association of Certified Chartered Accountants). A CIMA qualification will likely lead to a Management Accountant/Business Partner/Finance Manager role, ACA is likely to lead to an Auditing role while ACCA has a couple of opportunities including roles such as Management Accountant, Finance Manager, Financial or Business Analyst, Financial Consultant etc. Typical Finance & Accountancy roles within the public sector Careers in finance are varied, and the job roles and titles within the public sector are largely the same as in other sectors across the profession. Generally junior candidates will start out as an Accounts Assistant, Finance Assistant, Assistant Accountant or Junior Accountant, similar to the private sector. Within the public sector however, candidates may be exposed to a wider remit and of course face different challenges and obstacles that may not present themselves in the private sector. Within the public sector, candidates can aspire to levels such as a Management/Financial Accountant, Finance Business Partner, Finance Team Leader, etc. These roles are definitely achievable with hard work and determination, but candidates need to have the drive to learn and soak information from more experienced colleagues. There are always growing organisations or restructures that will present opportunities, so it is about making the most of them if and when possible. What career progression is there in public sector finance? Is it suitable for an ambitious candidate looking to get to the top? As in any industry, some organisations will be better than others in regards to career progression, however most organisations I work with offer great opportunities for candidates. For example, larger public sector organisations will generally have a set path for progression, and this will usually be discussed at interview and candidates will be given all the resources they need to progress. This route may be a better choice for ambitious candidates looking to progress quickly. For candidates working within smaller organisations progression may not be as quick. However, a huge benefit to this is that candidates will be exposed to a wider remit, feel more valued, and perhaps most importantly, experience a more hands-on approach. This could involve having a greater focus on training, or simply working closely with an experienced colleague. It is rare to get this type of exposure with a senior professional within a large organisation, and this can often give candidates with SME experience the edge later in their career. I have however experienced situations with some of my SME candidates where the top role in their organisation is occupied, causing them to seek employment elsewhere. For that reason, SME businesses may be better suited to candidates that are happy working at a slightly slower pace. It is therefore essential that candidates hoping to secure a Finance & Accountancy career within the public sector assess their progression options thoroughly. Whatever the business size, most Finance & Accountancy professionals I recruit generally work their way up from junior levels within the same organisation and only choose to leave when they have reached the highest level available to them. I hope this blog has alleviated some concerns candidates may have around working within the public sector. As with any job, there are positives and negatives, and it is for each individual candidate to decide whether the public sector is right for them, and what route to take. If you would like help securing your first Finance & Accountancy job within the public sector, or are an experienced professional looking to move I would be more than happy to help. You can contact me, or a member of our Finance & Accountancy recruitment team in your area today. Alternatively, for more career advice or tips on securing your next role, check out our candidate resources section.
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A guide to being a Finance & Accountancy contractor
Have you wondered what it would be like to work as a contractor within Finance & Accountancy but not sure how to go about it or what the benefits might be? In this guide, Consultant Rebecca Douglas looks at why more-and-more candidates are considering Finance & Accountancy contract jobs, why she thinks more Finance & Accountancy professionals should consider it as a viable career move and offers her advice as to how you can become a success within the contracting market. The Finance & Accountancy contract market is incredibly buoyant, and with roles ranging from Financial Controller and Finance Manger to Cost Accountant and Auditor it is more varied than ever before. This is because organisations are relying more-and-more on interim help to deliver key projects, cover extended periods of leave or to ensure productivity is not lost whilst looking for a permanent member of staff. I speak with Finance & Accountancy candidates that are thinking about moving into the contractor market every day. We have therefore created this guide to relieve some of the concerns we regularly face and help more candidates that may be considering the move. What are the main benefits of working as a Finance & Accountancy contractor? One of the biggest benefits of being a contractor within the Finance & Accountancy sector is the speed in which candidates can find roles, and the flexibility it offers. When interviewing for a permanent position within the sector, candidates can often expect a lengthy process, which can leave job seekers without work for some time. Most of my contractors within the sector very rarely have this issue. Skilled Finance & Accountancy contractors can generally be interviewed, hired and start work within a matter of days, making the transition between jobs quick and relatively easy. This makes finding work much easier for contractors in my opinion. Candidates in the contract market that have a varied CV with no unexplained gaps are very desirable in the market. Moving between roles so quickly also helps candidates stay on top of current trends, giving them knowledge and experiences that other, permanent staff may not have, giving them the upper hand should they decide on pursuing a permanent role again. Working as a contractor also gives Finance & Accountancy candidates the chance to work on a huge variety of projects, allowing them to learn and utilise different skills. This offers contracting candidates an unrivalled opportunity to develop different niche skillsets, making them even more desirable in the market. Finance & Accountancy contractors also have the opportunity to try our different markets and organisations, allowing them to pick and choose the type of work they do, whilst continuing to develop new skills from each assignment they take. Finally, the financial benefits are usually much greater for Finance & Accountancy contractors than that of full time permanent staff. An average contractor rate can easily earn more than a full-time employee. For example; A highly skilled Financial Controller can earn between £276 and £368 per day which equates to an annual salary of between £50,000 and £65,000. Financial Planner & Analysis Manager contracting candidates can expect to earn between £276 and £322 per day, or an annual salary of around £46,000 to £60,000. An Auditor in the contract market should earn between £184 and £230 per day which would amount to an annual salary of between £36,000 and £42,000. What are the main challenges of working as a Finance & Accountancy contractor? Finance & Accountancy contractors are paid a premium because of their skills and flexible nature, as such contractors are expected to start a role and hit the ground running straight away. This can sometimes be a daunting experience, especially if the business has a different way of working that a new hire has to get used to very quickly. Employers will expect a Finance & Accountancy contractor to work with minimal to no supervision depending on the size of the business, so it may not be a good career choice for candidates that would find this difficult to manage. Finance & Accountancy contractors also need to be aware that they are very rarely entitled to the same benefits as full time permanent members of staff. Generally sick and holiday pay are bundled into the hourly rate that is offered, so if a contractor were to fall ill they would not receive anything extra for the period they are off work. This can have a negative impact on finances if not managed correctly, however most experienced contractors are aware of this and usually keep money aside in a separate savings account and look into health and life insurance for extra peace of mind. How can a candidate get into contracting within Finance & Accountancy? Before deciding to move into the contract market, Finance & Accountancy candidates need to thoroughly research the market to make sure there is demand for their skillset. Whilst doing this it is important to keep in mind the rates that are currently being offered and location to ensure a move would be financially beneficial. I would therefore advise candidates considering a move to discuss any concerns or questions they have with a recruitment professional or someone that is already contracting within the sector. Specialised Recruitment agencies will be able to offer up-to-date market knowledge and guidance, and can help with finding roles that are geographically viable and in line with a candidate’s skills and experience. A common misconception about contracting is that candidates must be unemployed before finding a temporary position, however this is not the case. The flexibility of contracting means that contractors are free to move roles at any time, so it is important to constantly keep on top of the Finance & Accountancy contract jobs market. This is where a recruitment agency like Sellick Partnership could help! We can keep on top of the market for candidates, and always keep our contractors up-to-date with any roles that may be relevant to them. It is however important to remember that reputation is everything as a contractor, so leaving an assignment early may impact a candidate’s chances of gaining employment elsewhere. That is why we always ensure that we time a candidate’s move correctly, so contractors are able to fully complete an assignment before moving on to the next. How do Finance & Accountancy contractors get paid and how much can they earn? There are two main ways Finance & Accountancy contractors can get paid, the first being through an Umbrella provider. Once a Finance & Accountancy contractor has signed up to an umbrella provider the process is simple. Candidates are required to submit a weekly timesheet that details the hours they have worked, which is then signed off by a representative at the employer. Sellick Partnership then pay the Umbrella provider who then pays the candidate directly. Whatever goes into the candidate’s bank account each week is entirely theirs as all taxes and national insurance deductions are sorted by the umbrella company. The second option is to be paid on a PAYE basis through our payroll team. This in essence makes a contractor an employee of Sellick Partnership and means they will be paid through us. Contracting through your own limited company is also another option and can be the most tax efficient way possible. Contractors will however need to understand IR35 in order to work successfully. Contractors that are working inside IR35 will need to pay income tax and NI like a regular employee. Candidates that land outside IR35 will be deemed as self-employed and will be able to enjoy the tax advantages of being self-employed. A contractor’s IR35 status will vary from contract-to-contract. What are the career opportunities like as a Finance & Accountancy contractor? As with permanent Finance & Accountancy positions, the career opportunities are endless for candidates that have the drive and determination to succeed. The sector is vast, so there are countless routes that candidates can take, and choosing the right one is essential. This is something a specialist Finance & Accountancy recruiter can help with. As a contractor, candidates also have the option to move sectors, and try different routes out, which can be hugely beneficial for someone that may not know what route they want to take. Our Finance & Accountancy contractors regularly contact us to say how much they enjoy their job. If you are interested, or want to discuss what Finance & Accountancy jobs we currently have available, feel free to contact me directly or visit our jobs page to view our current vacancies. Alternatively, you can keep up-to-date with all of our latest news and resources for Finance & Accountancy candidates on Twitter, Facebook, LinkedIn or the Insights section of our website.
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Twitter accounts all Finance & Accountancy professionals should follow in 2019
Finance & Accountancy professionals need to have their finger on the pulse and remain up-to-date with relevant industry news in order to stay ahead of the pack. This is especially important if you are currently looking for a new Finance & Accountancy job or are thinking about a career move. Take a look at our list of what we think are the top Finance & Accountancy Twitter feeds that will keep your knowledge current and up-to-date, and help you secure your next Finance & Accountancy job opportunity. If you are looking to get ahead in your next career move, then it is important not to overlook one key element of your interview preparation, an up-to-date knowledge of current affairs. Most employers, particularly in the Finance & Accountancy sector, expect their candidates to be aware of the latest trends, topical news and expert analysis of issues that are affecting the industry. Without this awareness, job seekers could be doing themselves a disservice when compared to others competing for the same role. With over 270 million users, Twitter brings together some of the leading thinkers, writers, and doers in the Finance & Accountancy sector and is the perfect platform to network, share ideas, swap stories and read the latest news and goings on in the sector. To help you tap quickly into the Twitter pulse, we have listed the top Finance & Accountancy Twitter accounts you should follow in 2019. If there is a key account that you think we have missed, get in touch and let us know! 1. @AccountingWEBuk – AccountingWEB features the latest accountancy news, features and industry and community insights. An excellent account to quickly see the headlines and keep in the know. 2. @CIMA_News – CIMA is the world's largest professional body of management accountants that also offers business finance qualifications. Its feed shares news about events and training opportunities, articles and inspirational quotes. 3. @paullewismoney – Paul Lewis is a financial journalist, broadcaster and public speaker. He shares news articles and commentary, as well as his own views on current events. 4. @cheapaccounting – Expect lots of conversation, finance news and information from prolific tweeter Elaine Clark, managing director of CheapAccounting.co.uk. 5. @ICAEW – The official Twitter account from global membership body ICAEW provides insights, industry news and in-house updates about events, training and issues affecting the Finance & Accountancy profession. 6. @RichardJMurphy – Richard is an author, Chartered Accountant and professor of Practice in International Political Economy at the University of London. He writes and tweets about taxation and accounting issues, offering commentary and insights. 7. @ACCA_UK – The official Twitter feed of the Association of Chartered Certified Accountants (ACCA)'s UK National Office shares upcoming events and training opportunities, as well as tweeting articles from the official ACCA magazine. 8. @economiamag – The economia magazine’s Twitter feed covers news and analysis on the essential issues in the world of business, Finance and Accountancy. 9. @TheEconomist – Global news and analysis on business, finance and politics and more from The Economist magazine. 10. @FinancialTimes – The Twitter feed from the Financial Times posts breaking news and shares the latest articles from the publication. Expect news, insights and commentary on finance, business, politics, banking and more. 11. @CityAM – As the physical copy of the City AM newspaper is only available in London, those interested in finance and business news can use the publication’s Twitter feed to keep up-to-date with the latest goings-on in the sector. 12. @EdConwaySky – Ed Conway is the economics editor of Sky News and a columnist for The Times, and his impressive following of nearly 100k followers shows he is an excellent source of commentary and insight. 13. @thefintechtimes – For those looking for more in-depth articles about the world of financial technology, then the Fintech Times is a great source of news and commentary. 14. @YahooFinanceUK – The official Twitter page for Yahoo UK & Ireland, this feed shares breaking news, updates and articles. A must-follow for a quick round-up of the day’s headlines. 15. @D_Blanchflower – If you are interested in financial and political news from the United States then Danny Blanchflower, former member of the Bank of England’s Monetary Policy Committee, is a great account to follow for insights and commentary. 16. @SellickGroup – Of course, we could not complete our Twitter list without including our very own account! Follow us to find out the latest Finance & Accountancy news, events and jobs! We have been placing experienced Finance & Accountancy professionals into roles since 2002, so if you are looking for a new opportunity, or eager to kick-start your career in finance then we will be able to help. Get in touch with one of our expert Finance & Accountancy Consultants today. Or, if you are interested to find out how else you can use social media to your advantage as you search for your next role, visit our resources page for candidates here.
