The market for newly qualified accountants is the busiest it has been in my five years working in recruitment and you will certainly have some good options available to you should you decide to leave practice. The first job you take outside of practice is an important decision to make, and it is a choice that you should put some serious thought and consideration in to.
What kind of job would I like to do?
As a newly qualified ACA accountant the experience will be attractive to a variety of different employers. Rather than just having the mind-set to take any job that is not external audit, decide what kind of jobyou would genuinely like to do. There is the option to move into financial accounting/financial reporting/financial analysis/internal audit etc. jobs. The first job you move into outside of practice may shape your career for the next 3-5 years. Given the amount of time you have spent studying, working long hours etc. in external audit, it is important that you move into a job type that you will genuinely enjoy and hopefully stay in for a number of years.
What kind of industry would I like to work in?
If you have spent 3-4 years working in audit you will have first-hand knowledge of companies in a variety of industries. Think about companies that you have audited that you would actually like to work for yourself and then target a job in a similar organisation. If you decide to continue your career in Dublin you are lucky in that there are a number of large employers in most industry sectors including Banking, Insurance, Funds and Multinationals. Even Irish owned SMEs and start-up companies are starting to hire again. It will be easier to secure a job in the industry sector that you audited but some companies will see that your skills are transferable and will offer you an opportunity to change sectors. Speak to your recruiter about which companies will give you this option.
Should I stay working in practice beyond my training contract?
Whilst a significant percentage of accountants working in audit will want to leave practice as soon as their training contract expires a lot will want to stay working in practice. This can be a good option for some candidates. You can progress to managerial level, manage larger teams and be exposed to more senior stakeholders in a variety of different companies. This will be advantageous to some candidates in the long term. However if you are not going to be exposed to anything new by staying on in your current role then it may be better to move on.
There is also the option to move to a different accountancy practice on completion of your training contract. Big 4/Top 7 audit firms are always looking to hire good auditor seniors. Changing accountancy practices may give you exposure to new clients and may give you an opportunity to audit clients in a different sector than you are used to. If you qualified in a Top 20 practice it may be a good idea to get a year experience in a Big 4 audit firm if the ultimate aim is to get a role in one of the big multinational/financial service organisations.
What is most important to you in a new job?
All candidates will have different motives for leaving practice. For some they will want to join an organisation big enough whereby they can constantly progress and develop over the next 5-10 years. Others will prefer to go into a role that will offer more variety and more of a mental challenge. For some newly qualified accountants after spending three years working 60 hours a week they will just want a job that will allow them to finish work every day at 5pm. Whatever your motivation, there will be different options available.
If using a recruiter be honest with them and this will result in you interviewing with the most appropriate companies for your skill set. Also speak to colleagues in years above you in practice who have left to join companies in industry as they will be able to give you first-hand information as to whate roles outside of practice really are like.
Get your CV updated
Until you interview your CV is the only document you have to describe your skills and experience. Despite all the resources available to candidates (CV templates, CV advice online etc.) some qualified accountants still cannot prepare good CVs. Your CV should do you justice and describe all relevant experience you have built up over your training contract. If you are unsure about CV layout or what to include then speak to a recruiter directly and they can help you with this process. In general your CV should be clear, concise, easy to read and very informative (facts and figures). If you have trained in audit list the different clients you have audited and describe their size (turnover, number of employees etc.) and industry sector. Recruiters see hundreds of CVs from Big 4 candidates every year and most CVs look very similar – what distinguishes one from the other is the different clients that you have worked on. Your audit clients will also be the first thing employers will look at when reviewing your application along with your educational record.
In certain cases your recruiter may get you to tailor your CV for an application to a specific role – this will significantly increase your chance of securing an interview.
Meet with a recruiter
Meeting with a recruiter in person will be much more beneficial that just having a phone call with them. At an initial meeting you can have an open and honest conversation around what kind of job you actually want. This should result in you only being put forward to jobs you would be genuinely interested in rather than being submitted to ten different jobs just because your skill set is desired by the client. Applying to jobs of no appeal to you is a waste of the recruiter’s and the client’s time and does not reflect well on you either. By meeting with the recruiter at the beginning of your job search you will also distinguish yourself from the other hundred candidates coming out of training contracts at the same time. A good recruiter will also be able to match you to a company environment that will suit your personality as well as your skill set.
Don’t wait for someone to approach you – be proactive and contact a recruitment consultant yourself. It is nice to be approached about a job and feel as though you are being headhunted for a specific role, however often the recruiters with the most jobs for you will not have the time to search through LinkedIn for hours to find suitable candidates. By registering your details with a good recruitment consultant you will ensure that you are kept aware of all suitable job opportunities that may arise. Even if you are not looking for a role immediately the best way to find out about good jobs is by having a relationship with the recruiter that will be speaking to these companies. Also, recruiters that have worked with companies for a number of years tend to be able to influence clients into meeting candidates that they have met and can personally recommend.
By applying to a job through an agency you should be able to gain a competitive advantage over applicants that apply directly. Your recruiter will be able to give you advice about the company, the work environment, the hiring manager and also be able to conduct interview preparation with you. They will also be able to keep you better informed of the timelines involved in the process and will be able to ensure the hiring manager makes a quick decision if you are interviewing with a couple of different companies.
What salary can I get?
Naturally the salary you attain in a new job is an important factor when making your decision about what company to join. Luckily as a qualified ACA accountant in Dublin you can expect to receive a good salary in the current market. Companies in different industries pay different various salaries so have a look at salary guides for an idea of what you may be eligible for. Sometimes companies will offer lower salaries at first but with a view to increasing your remuneration and benefits as you progress whereas other companies will offer a higher salary initially but will offer no salary increase or no room for career progression over the next three years. Be open minded regarding salary and listen to the advice of your recruitment consultant as well as from fellow colleagues, managers etc. The first job you take outside of practice is an important decision and taking a short term view in terms of salary expectations may not be the best move in the longer term. Also, in reality a couple of grand difference in salary is going to make little difference to your monthly take home pay.
Should I take a contract job?
A lot of candidates will only consider permanent jobs when looking to change. Whilst this is understandable in some circumstances (mortgage application etc.), ruling out contract roles can seriously limit your options. The majority of large multinational or financial services companies in Dublin tend to offer contract roles initially. In general these tend to be permanent in all but name and will be extended beyond the initial fixed term contract. Again your recruiter will be able to offer you advice around which companies will make you permanent and which ones won’t.
I plan on going travelling after my training contract ends
On completion of a training contract or within a year of qualifying, a large percentage of accountants will go abroad to travel or to work. Depending on your personal circumstances you may be better off staying in your current practice for six months before going away whereas in the majority of cases it may be good to try and get 6-12 months industry experience before going away as this will make your CV look more marketable when you decide to return to Ireland. Of course this is dependent on individual circumstance and jobs on offer.
If I fail my FAEs?
If you fail your exams you will still have a significant number of options available to you. The first thing you should consider is whether you plan on repeating your ACA exams the following year. If this is the case, the best option will likely be to stay working in practice as no company in industry will offer you the amount of study leave that you will get in practice. If you are unhappy in your role maybe consider joining another audit firm that will offer a new environment and new clients to work with.
A good option for a lot of candidates is to change to ACCA. This is still a prestigious qualification that will be hugely beneficial to you over the course of your career. You will be exempt from most exams and should be able to qualify within a year. The exam format is much friendlier to people in full time jobs than ACA exams are. The majority of accountants that train in industry will undertake ACCA exams rather than ACA ones. If you want to stay doing ACA maybe consider taking a contract role until next summer and then take a couple of months off to study for your FAEs once again.
You will still have lots of options available to you to move into industry. You have the same amount of work experience as those that are qualified and your skillset will still be in demand to employers. You may not command the same salary that qualified accountants can but you will still get a good package. You will also have a year’s experience in industry (rather than another twelve months in practice) and when you qualify next year you should be able to command the same salary as your work colleagues who pass the exams this year.
If you have any questions on your present position or are interested in roles that Sigmar has on offer please contact our team – firstname.lastname@example.org or call 01-4744600.
Posted by Recruitment Consultant, Sigmar on 4 December 2017
Guide to Irish Immigration Stamps and Permissions
Guide to Irish Immigration Stamps and Permissions
This content is copied from The Department of Justice and Equality. There are several types of stamp with different names, eg Stamp 0, Stamp 1, etc. Each one indicates a type of permission, including the activities you can and cannot do in Ireland and the time period you are allowed to stay. You must be familiar with your stamp and the conditions that apply to it. If you break these conditions, you may have to leave the country. The time you accumulate on certain stamps may be used to calculate your 'reckonable residence' (subject to conditions) if you apply for citizenship by naturalisation. Stamp 0 indicates permission to stay in Ireland for a temporary period, subject to conditions. Summary of conditions You must be of independent means, ie fully financially self-sufficient. Alternatively, your sponsor in Ireland must be of independent means and can support you fully. You cannot receive any benefits or use publicly funded services, eg be treated at a public hospital. You must have private medical insurance. You must not work or engage in any business, trade or profession unless specified in a letter of permission from INIS. Examples when used You may be given Stamp 0 if you have permission to: Retire to or live in Ireland as a person of independent means Be a visiting academic at an Irish university or college Live in Ireland as the elderly, dependent relative of a non-EU/EEA or Swiss citizen Extend a short term visit here due to exceptional humanitarian circumstances Work here for an overseas company to carry out a specific task for a limited time Other Register or renew Register for the first time or renew based on Stamp 0 Stamp 1 indicates permission to work or operate a business in Ireland, subject to conditions. Stamp 1 is reckonable as residence when applying for citizenship by naturalisation. Summary of conditions You must not start a job or enter employment unless you or your employer has obtained an employment permit for you. If you do not have an employment permit you must not engage in any business, trade or profession unless specified in a letter of permission from INIS. If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 1 if you have permission to: Work here based on an employment permit Operate a business here Work here based on a Working Holiday Authorisation Other Register or renew Register for the first time or renew based on Stamp 1 The Immigration Rules for non-EEA Stamp 1A Trainee Accountants of 1 June 2017 are currently under review. Until this review is completed the following conditions apply in order to qualify for a Stamp 1A. Stamp 1A description Stamp 1A indicates permission in full time, paid accountancy training (with a named organisation such as CPA Ireland, ICAI or regulated by the IAASA and with a training contract with a company based in Ireland) for a specified period, subject to conditions. Summary of conditions You must not engage in any other business, trade or profession unless specified in a letter of permission from INIS. If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 1A if you have permission to: Study accountancy as a trainee & be employed as a trainee accountant Register or renew Register for the first time or renew based on Stamp 1A 1) Graduate Student who currently holds a Stamp 2 or 2A permission Stamp 1G indicates you have finished your studies in Ireland and have permission to look for employment here under the Third Level Graduate Programme, subject to conditions. Summary of employment conditions for graduates You can work for a maximum of 40 hours per week. If you wish to continue working after Stamp 1G expires, you must find a job that requires an employment permit and then follow the usual application process. While on a Stamp 1G, your other permissions and conditions remain the same as for Stamp 2/2A. Examples when used You may be given Stamp 1G if you have permission to: Look for work as part of the Third Level Graduate Programme 2) Spouse/de facto partner of a Critical Skills Employment Permit holder or a Spouse/de facto partner of Researchers in the State on Hosting Agreements From the 6 March 2019 the Stamp 1G will also provide for the change in policy to both visa and non-visa required non-EEA nationals, who are Spouses and de facto partners of persons who are currently resident in this State, on Stamp 3 conditions, as the family member of a person resident in the State on the basis of a Critical Skills Employment Permit or a Researcher in the State on a Hosting Agreement. The requirement to obtain a DPSEP has been removed for this group by DBEI. INIS will grant eligible de facto partners of CSEP holders and researchers on a Hosting Agreement permission, to reside in this State on Stamp 1G Conditions without the need to obtain a DPSEP from DBEI. This will allow access to the labour market without an Employment Permit. Summary of employment conditions for spouses and de facto partners of CSEP holders and researchers on a Hosting Agreement permission Permitted to work in the State without the requirement to obtain a work permit Not permitted to establish or operate a Business Not permitted to be Self- Employed Renewal of the Stamp 1G registration should be applied for annually, and after 5years on a Stamp 1G, you may apply for a Stamp 4 Periods spent on Stamp 1G are considered as reckonable residence for the purpose of making an application for Citizenship/Naturalisation Stamp 2 indicates permission to study a full time course on the official Interim List of Eligible Programmes (ILEP) for a specified period, subject to conditions. Stamp 2 is not reckonable as residence when applying for citizenship by naturalisation. Summary of conditions You cannot receive any benefits or use publicly funded services (e.g. public hospitals) unless you have an entitlement via other means. You can work in casual employment for a maximum of 20 hours per week during school term and 40 hours per week during holidays. You must not engage in any other business or trade. If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 2 if you have permission to study the following: English language Higher national diploma Degree (undergraduate) Master's degree (postgraduate) PhD Other Register or renew Register for the first time or renew based on Stamp 2 Stamp 2A indicates permission for full time study in Ireland for a course that is not on the official Interim List of Eligible Programmes (ILEP), for a specified period. Stamp 2A is not reckonable as residence when applying for citizenship by naturalisation. Summary of conditions You cannot receive any benefits or use publicly funded services, eg public hospitals. You must have private medical insurance. You must not work or engage in any business, trade or profession. If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 2A in the following circumstances: Semester abroad (ie at an Irish university/college) Study at a private secondary school in Ireland Register or renew Register for the first time or renew based on Stamp 2A Stamp 3 indicates permission to stay in Ireland for a specified period, subject to conditions. Stamp 3 is reckonable as residence when applying for citizenship by naturalisation. Summary of conditions Recently revised to: http://www.inis.gov.ie/en/INIS/Pages/revised-immigration-arrangements-for-the-spouses-and-de-facto-partners-of-critical-skills-employment-permit-holders If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 3 if you have permission to: Volunteer, eg with a charity or non-profit Be a minister of religion Join your non-EEA/EU/Swiss spouse/civil partner or family member who is here based on a work permit Other Register or renew Register for the first time or renew based on Stamp 3 Stamp 4 indicates permission to stay in Ireland for a specified period, subject to conditions. Stamp 4 is reckonable as residence when applying for citizenship by naturalisation. Summary of conditions You can take up employment and are not required to hold an Employment Permit. You can work in a profession, subject to conditions of the relevant professional or other bodies. You can establish and operate a business. You may access state funds and services as determined by Government departments or agencies. If you wish to stay in Ireland past the expiry date of your immigration permission, you must apply to renew your permission and registration before they expire. Examples when used You may be given Stamp 4 if you have had permission to work in Ireland: With a valid Critical Skills employment permit for 2 years With a valid employment permit for 5 years As a researcher (ie with a valid Hosting Agreement) for 2 years You may be given Stamp 4 if you are granted permission: To join your Irish spouse, civil partner or de-facto partner To join your EU/EEA or Swiss family member based on EU Treaty Rights To join a family member who has immigration permission based on Stamp 4EUFAM (ie EU Treaty Rights) To join your family member who is a recognised refugee or has been granted subsidiary protection To remain with your child who is an Irish citizen Under the Investor and Entrepreneur Programme (including spouse/partner & family) For Long Term Residence As a convention or programme refugee, or based on subsidiary protection Register or renew Register for the first time or renew based on Stamp 4 Stamp 5 indicates permission to stay in Ireland without limits on the time you can remain here, subject to other conditions. Stamp 5 is reckonable as residence when applying for citizenship by naturalisation. The stamp will be valid up to the expiry date on your passport. You may be given Stamp 5 if you have permission to: Remain in Ireland 'Without condition as to time' (WCATT) Stamp 6 indicates you are an Irish citizen with dual-citizenship. You may be given Stamp 6 in your non-Irish passport if you have applied for permission to: Remain in Ireland 'Without condition'
Our Staff Share Their Experience & Give Advice To Anyone Disappointed With Their Leaving Cert Results
Our Staff Share Their Experience & Give Advice To Anyone Disappointed With Their Leaving Cert Results
Are you feeling disappointed about your Leaving Cert results or do you know someone who wasn't happy with the points they got? Don't worry! A lot of people aren't happy when they receive their results, including our staff. We asked around, and it turns out loads of us in Sigmar weren't pleased with the results they received. We decided to do a video series asking 5 members of staff what advice they would give to anyone feeling disappointed about your Leaving Cert results. Video 1: Adam Dunne, Marketing Executive Adam didn't get his first, second, third, fourth or fifth choice in his CAO form. He got his very last choice. As you can imagine, he was devastated especially competing with his twin brother who got what he was looking for. It all worked out in the end though and his course ended up giving him the best experiences of his life. Video 2: Ryan Tobin, Apprentice Recruitment Consultant Ryan started in Sigmar this Summer after completing his leaving cert without needing any points. This is the advice he would like to give to those who got their results with him in August Video 3: Dee Sweeney, Recruitment & Development Manager This is what Dee had to say to leaving cert students who weren't happy with the points they received. Sometimes work experience can be more valuble than exam results. Video 4: Fiona Halliday, Receptionist & Office Administrator Fiona is passionate about following her dreams. She has changed her career a number of times and her advice to any leaving cert students who weren't happy about their results is you can make a success of yourself no matter what! Video 5: Tom Deane, Team Account Manager Much like many Leaving Cert students, Tom was disappointed with his results, but it all worked out in the end. This is the advice he would like to share with leaving cert students who weren't happy with their results Photo Credit: The Irish Times
Future Jobs For Irish Youths
Future Jobs For Irish Youths
While the future is uncertain, what is certain is that by 2025, Irish workers and enterprises will be operating in a completely changed economy. Technology continues to herald new ways of doing business and new economic opportunities. This will present us with challenges, but also new possibilities. Lots of job roles will disappear or be redefined and emerging job roles will require new and different skillsets. In this blog we look at the sectors that hold the best chances for economic and job growth in the near future. Broadly the global economic performance and Ireland’s position are positive for the foreseeable future. With unemployment now at 4.8% and decreasing quarterly, all signals point towards continued, sustainable improvement. ICT Sector Ireland has become the global technology hub of choice when it comes to attracting the strategic business activities of ICT companies. This has earned Ireland the reputation for being the heart of ICT in Europe. The industry employs over 37,000 people and generates €35 billion in exports annually. With Ireland being the second largest exporter of computer and IT services in the world. With a highly creative and talented workforce, an open economy and a competitive corporate tax environment, Ireland has successfully attracted eight of the top 10 global information technology companies to establish a significant presence here. Some facts about the ICT sector: Ireland is the second largest exporter of computer and IT services in the world. Global leaders such as Intel, HP, IBM, Microsoft and Apple have long-established operations in Ireland. They have been joined by newer leading-edge giants such as Google, Facebook, LinkedIn, Amazon, PayPal, eBay and Twitter. Dublin is Europe's leading hub of innovative games companies with Big Fish, EA, Havok, DemonWare, PopCap, Zynga, Riot Games and Jolt all having a significant presence here. Pharmaceutical and Biotechnology Industry “Ireland is now operating in the same ballpark as major science-funding countries around the world” - Professor Mark Ferguson, SFI Director Already one of Ireland’s best performing industries, the pharmaceutical and biotechnology industry is set to grow even further in the future. With a growing and ageing population worldwide, the number and degree of health-related issues is continuously on the rise. People will always need medical care ensuring a continued demand for research, development and production of new drugs. There are now over 30,000 people employed in the industry. This trend looks set to continue into 2020 with major expansions of many of the big pharma players across the country. The IDA reports the biopharmaceutical industry has made a capital investment of approximately €10 billion in new facilities in Ireland, in the last 10 years. This represents one of the largest investments in new biotech facilities anywhere in the world. As a result of the growth in pharmaceuticals, biotechnology and medical device industries in Ireland, it is very likely that a student about to graduate with a third level qualification in science will find interesting employment in one of the following areas; research, manufacturing, regulation or sales and marketing. Some relevant facts about pharmaceutical and biotechnology sector: No. 10 of the top 10 world's pharmaceutical companies 7th largest exporter of medical and pharmaceutical products in the world in 2014 €39 billion in annual exports of pharma, bio and chemistry produce 75 pharmaceutical companies operate in Ireland 40 FDA approved pharma and biopharma plants Financial Sector The financial services jobs market for accountancy and finance professionals continued its upwards growth trend last year. Even without the added benefit of companies relocating to Ireland post Brexit, the confidence of both employer and employee alike has produced a healthy landscape with more opportunity for those who wish to change jobs. There is no doubt Brexit has been a major contributor to the growth in the financial services jobs market. We have seen major international companies relocate operations to Dublin and others who already have a presence here have laid out plans to significantly increase their headcount. This is all positive news for students studying in this area. Not only does this create opportunities that would not have existed without Brexit, it also increases churn in the market involving more established financial services companies in Ireland who subsequently end up with more vacancies themselves. Particularly for accountants, regulatory reporting accountants and in funds if you specialised in fund accounting, risk & control, depository, compliance and AML you will find interesting and worthwhile employment when you graduate. 42,000 people employed in the Financial Services Sector in Ireland 4th Largest Exporter of Financial Services in EU No. 1 location worldwide for Alternative Investment Funds All stats referneced from Future Jobs Ireland2019 Goverenment Doc and IDA.ie
Famous People Who Failed Before Succeeding
Famous People Who Failed Before Succeeding
Not happy with your leaving cert results? Don’t worry, have a look at these famous people who received some painful rejections before they accomplished some amazing things. Walt Disney The man whose cartoon characters have given so much to generations of students and are still a huge part of peoples’ lives today. Walt Disney was fired from the Kansas City Star in 1919 because he “lacked imagination and had no good ideas”, according to his editor. And his bad luck didn’t end there, when he finally managed to get his own production company he had to file for bankruptcy because he couldn’t manage his money correctly. Luckily, he didn’t give up, moved to Hollywood and went on to become one of the greatest animators in the world. His creations have gone on to touch the lives of many and as well as being a successful production company, Disney also operates theme parks, a streaming service and stores worldwide. JK Rowling People know JK Rowling as one of the most successful female authors in the world. What people aren’t aware of, is the tremendous struggles she faced before Harry Potter was published. In 1990, Rowling first had the idea for Harry Potter but that same year her mother passed away and writing was put on hold. In 1992 she moved to Portugal to teach English where she met her husband and had a daughter. Sadly, in 1993 her marriage ended and she moved to Scotland to be close to her sister. At this time Rowling saw herself as a failure, she was divorced, jobless and broke. Rowling then began to focus her attention on Harry Potter. When her manuscript was completed, she sent it to 12 publishers and was rejected by all 12 before it was accepted by a small publishing company, Bloomsbury and the rest as they say is history. Photo: Daniel Ogren Flickr Oprah Winfrey Oprah Winfrey had an extremely difficult start in life, she was raised in rough conditions and was the victim of sexual abuse from the age of 9. When she was 14 however, she was given the opportunity to live with her father who encouraged her to pursue her education and later she went on to university to study communications. Her difficulty didn’t stop there, as after gaining a job as an evening news reporter, she was fired because she couldn’t sever her emotions from her stories. Her boss told her she was “unfit for television news”. Oprah laughs about this now and even admits she wasn’t cut out for news reporting because she became too emotionally invested in the people and the stories. She was then given a talk show slot on the same television network and the rest is history. Photo: Ian Evenstar Flickr Katy Perry Most people know the name Katy Perry but few know of the struggle she went through to be the success she is today. In 2001, Katy Perry who was then Katy Hudson released an unsuccessful Christian album that only sold 200 copies and was subsequently dropped from her label. She then went on to sign with Island Def Jam in 2003 where she was also dropped. Then she was set to be the front woman of a band called The Matrix and that contract was also terminated before they released any music. It wasn’t until she signed with Capitol Music Group and released, I Kissed a Girl that her music career really took off. Photo: Joella Marano Stephen King One of the world’s most famous authors, Stephen King has written over 50 novels and has had many of his novels produced as films. However, King didn’t always have it easy. In fact, before his first novel Carrie was published, he threw it in the bin. It had been rejected 30 times and King decided he’d had enough. It was his wife that retrieved it from the trash and told him to keep trying, which is a good thing considering how successful that book became and his other books to follow. Photo: Rogelio A. Galaviz C.