Making a career out of being a part qualified accountant
The natural inclination of any trainee is to become qualified. Simply put, the propensity to put study behind the seeming promise of higher salaries, greater respect and further opportunities once qualified mean many accountants have a one-track focus on qualifying quickly.
However there are a growing band of part-qualified accountants who are choosing to remain just that - part-qualified. The reason is not that they are incapable of passing, but many and varied.
Naturally there are work-life balance issues; part-qualified accountants with families struggling at exam time. However it is not career suicide remain part-qualified; moreover it is just one of many routes you can choose.
As with the majority of decisions to hire or promote, the differentiator is experience and quality of work. The fact that there is no qualification makes very little difference once ability is demonstrated by beginning studies.
Key to whether you can become a lifelong part-qualified is the experience you gain throughout your career. A part-qualified hell-bent on getting those letters after their name may well be academically strong, but unless they have experience of different working environments, responsibilities and demonstrable competencies at overcoming hurdles, they will often fall down against the part-qualified who has.
There is an unwritten rule within accountancy that after a certain period the part-qualified accountant becomes qualified by experience (QBE). Whilst the new Age Discrimination legislation is unclear in this area, the concept on which it is based is simple - experience and talent are greater than qualification letters.
Above all, organisations now look for a level of commercial awareness and non-technical skill which perhaps they have traditionally neglected. While your primary function within any company will be the accounts, the other elements to your skill set are just as important. Consequently higher salaries and progression do not necessarily follow on from qualification – they are earned in a similar way whatever your qualification status.
Moreover many part-qualified accountants cite a more relaxed expectation from their employers and a better work-life balance. Conversely, employers like part-qualified accountants because they show greater loyalty to the organisation.
There are naturally environments where a blinkered approach will mean qualifications are looked upon solely, but these are countered by forward thinking organisations who judge on experience and ability. It may take a little longer to get to where you want to be, but the tide is turning. Consequently, you can have a long and successful career as a part-qualified accountant.