Can you control a first impression?

By Georgina Gilbert

Georgina Gilbert is a Recruitment Consultant recruiting Interim Finance and Accounting professionals across the South East. 

Our previous article discussed the importance of research in your preparation for interviews; your training for the big race. However, all that preparation is wasted if you don’t make a good first impression.

If you’re a senior accounting professional, you know how important that initial first impression is. Aside from the times you have been the candidate over the course of your career there may have been occasions where you’ve been on the other side of the interviewing table; and you understand its magnitude in the decision making process.

Get your pension the easy way - from your employer

If you are of working age and you haven’t got round to starting a pension, now is the time to act. Pension enrolment doesn’t have to be hard. The government has introduced a new law designed to help people save more for their retirement. It now requires all employers to enrol their workers into a workplace pension scheme if they’re not already in one.

 

You can choose to opt out but the sooner you start saving for retirement the better because your pension pot builds up over time. What’s more, if you stay in, your employer will contribute to your pension as will the government through tax relief[1]. This means more money goes into your pension pot than just what you put in. 

  

To find out what pension enrolment means for you, and the benefits of staying enrolled, click here

Online calculators:

Future wallet

An online tool that helps you work out how much money you may need in later life. It lets you compare this to your present situation.

State Pension calculator

The State Pension profiler uses information provided to quickly estimate how much basic State Pension you may get. It's based on National Insurance contributions to date. It will also tell you the earliest you may get it. 

Pension calculator

Pension Calculator from the Money Advice Service and Association of British Insurers.

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[1] The government takes tax off your income. You can see this on your payslip.  Tax relief means some of the money that would have gone to the government in the form of tax now goes into your pension pot instead.  

 

 

 

CV Top Tips from AAT's James Price

AAT's James Price share his top tips on how to make your CV look sharp....

Your CV is the most powerful tool you have as a candidate, to sell your skills in order to get your foot through the door. With employers being sent hundreds of CVs for every job, it’s important that yours is tailored smart. James Price, Benefits and Services Manager at AAT www.aat.org.uk gives five top tips to ensure yours stands out from the rest. 

• Showcase your skills. Job titles differ from organisation to organisation so make sure you market the true nature of your job. This will show employers you meet the skill set they are looking for. 

• Design your CV. Put the most recent and important information first. It is unlikely a potential employer will dig around to find information so make sure you highlight it to them. 

• Demonstrate your achievements. Employers don’t want your current job description. They want to know what you can actually do. 

• Match your CV to the level of job you want. If you want a management position, make sure you include all your relevant experience. A word of caution though, don’t be tempted to fib as employers can spot them right away. 

• Sell the benefits of your skills. What do they mean in the real world? If you have saved your employer money, make sure you write this on your CV. Tell them how you’ve made a difference so they know what you can do for them 

For further information on how to build your skills and experience, please click here

 

To find a new accountancy opportunity, search and apply on GAAPweb.

Can the apprentice rival the master?

By Adeel Ahmed

Adeel Ahmed joined the Marks Sattin Thames Valley office in 2011¸ after graduating with a degree in Law. Adeel specialises in Public Practice and recruits into a variety of areas including Audit & Accounts, Transactional Services, Corporate Finance, Insolvency, Forensics and Tax. Since joining Marks Sattin, Adeel has developed solid client relationships with some of the biggest names in the accountancy industry as well some of the small to mid-tier firms.

The ‘Big Smoke’ has traditionally been the centre for growth and business in the UK, but times have changed, and the phrase ‘too big to fail’ no longer packs the same punch.

New powers are always rising and the Thames Valley region, home to a number of the top ten Practice firms and many others outside, has stood up to be noticed by accountants, progressing in their career, who dismiss exploring opportunities outside of the City.

On the record with PQ Personality of the Year

Now in their 10th year, the PQ Magazine Awards are the UK's premier accountancy awards with a range of categories including our favourite 'PQ Personality of the Year'. 

The winner was chosen by an indepedent panel which included Kate Martin, head of public relations at the AAT; Professor Prem Sikka, Professor of Accounting at the University of Essex and Lisa Dendle, MD of top recruitment consultancy Walker Dendle....

....who were on the lookout for....

...'An accountant with real charisma, a go-getting attitude, and the ability to make colleagues laugh. Someone with the ability to create a positive vibe in their workplace and within the profession.'

Garin Bisschoff, Anton Colella, Arti Dattani, Ken Frost, Mad-Andreas Holmsen, Luke Steenson and Peter Stewart made it to the shortlist but...

...the WINNER was Peter Stewart and in addition to his trophy he also  received a standing ovation from his fellow tutors.

The judges were impressed with his tireless work behind the scenes to improve accountancy student's lot. "He isn't one to seek the limelight, but if he is in it 'he shines". said his entry.

We speak to him about what he describes as an 'atypical' career.... 

Q1: How long have you been Director of CIMA at LSBF?

It will be 3 years this summer.

Q2: Tell us more about your role as Director of CIMA.

Being Director of CIMA involves ensuring that LSBF’s CIMA courses give students the best chance possible of passing the exams.

It involves making sure that the courses are focused on the exams, with superior quality material and good quality tutors. I also have regular dialogue with CIMA’s exams department to ensure that we are up to date with everything we deliver.

Q3: What were doing before LSBF and how did you come to take on this role there?

I went into accountancy exam training as soon as I qualified as a chartered accountant. I’d always been interested in teaching and doing a job where I could influence people’s prospects. It is a very rewarding job – one of the few in accountancy where your “clients” thank you!

Q4: What advice do you usually give to accountancy and finance students at the start of their course?

The qualification they are entering is one with many opportunities for an exciting and varied career. If they put in the effort for the relatively short 2 to 3 years now, they will have a long time to reap the rewards.

Q5: What do you think is a good career progression path in accountancy and finance?

Accountancy and finance is a far wider field than professionals on the ‘outside’ might appreciate. Firstly, there is no “standard” career or career progression path. The CIMA qualification opens up many doors in big business, and ACMAs (or CGMAs as they can now call themselves) operate at high levels in business beyond a purely financial role. I would advise students and trainees to seek roles which give them exposure to a variety of business areas; even to actively plan to switch employers and gain experience working in different business sectors so that they have a taste of the options available to them once they have the letters after their name.

Q6: What are some of the key skills and attributes that you think are most important to be a successful accountancy professional?

People mistakenly assume that accountancy is a career for those who are good with numbers. Whilst numerical aptitude can make you a better accountant, it is far from being the key skill. Accountants have to work in teams; they have to deal with people up and down the management of a business; they have to communicate ideas; they have to identify problems and weigh up the potential solutions to those problems from a number of different perspectives.

Q7: What are some of your personality traits that you feel have helped you in your career?

Mine is not a ‘typical’ accountancy career in that it has been a very long time since I prepared or looked at a real set of financial statements in any detail. My career involves communication and explanation of difficult topics to people who are learning. I also identify and anticipate issues that arise in the way that students are expected to take their exams which gives me an opportunity to exercise my problem solving skills. Finally, I work in a competitive environment and, in LSBF, in a college that is at the front of product development so an ability to think imaginatively and innovatively is often called upon.

Q8: What is it about your personality that you think led you to win the PQ Accountancy Personality of the Year?

I’ve been involved with PQ Magazine since its very first edition and have always seen it as a valuable tool for students striving to pass their exams. It provides a useful link between the examining bodies, the colleges, the students and the employers. So, from the very start, I have been active in contributing to the magazine with articles and interviews that help students and tackle, or explain, issues that are thrown up by the examining bodies, such as changes in examination rules. I think the judging panel were impressed by my commitment to ensuring a fair deal for all students, regardless of whether or not they come to my courses, and my efforts to ensure that things are done well by the examining bodies.

 

To find a new accountancy opportunity, search and apply on GAAPweb.

 

The Value of PQs - Myth busters from Marks Sattin

What value do part-qualified accountants add to the financial services sector?

An exercise in myth-busting....

By Lloyd Butterworth

Lloyd joined Marks Sattin’s Part-Qualified Financial Services team in 2011 after graduating from UCL. Recruiting across banking, investment and asset management, venture capital, private equity and insurance, Lloyd has helped establish Marks Sattin’s presence in the market, working on a range of positions from core finance to analytical roles. Lloyd works closely with a number of boutique and SME businesses as well as larger multinationals.

 

The fast-paced world of financial services requires the best people to deliver quality every day. Because these institutions have such high expectations, it may be assumed that employers would seek to take on only qualified accountants, or, at the very least, finalists in their professional qualification. Such an assumption would, however, be misconstrued. Part-qualified accountants at even the most junior level have the opportunity to embark on rewarding careers within financial services as organisations look to train and grow new talent within the business.

Another industry myth is that prior experience within financial services is the pre-requisite to any career in the sector. It is now recognised that diligent part-qualified accountants can accrue transferable skills in a variety of sectors that can be readily applied to the realm of financial services. Indeed, those with a keen interest in the area and a rounded knowledge of its complexities are likely to prosper at interview and beyond.

One strategy seen in recent years amongst businesses in financial services has been to outsource accountancy functions to practice firms, both in the UK and further a field. However, misinformation and mistakes have been known to wipe out efficiency savings.

Clients of financial services organisations are error-averse and expect a premium level of functionality from those organisations they decide to do business with. Instances where this is compromised can be far more costly to finance organisations than the short-term gain of cheaper, outsourced accounting. In fact, while some back-office functions are still outsourced, the new growing trend is to bring finance functions back in-house. Consequently, those heading up financial services are again beginning to realise the inherent worth of part-qualified in-house staff.

Marks Sattin has typically recruited junior accountants, revenue accountants, assistant management and financial accountants into financial services from a variety of commercial backgrounds. Part-qualified accountants have the opportunity to become specialists within their chosen area, and as their experience grows, they can deploy their knowledge and expertise to contribute to the business strategy, having a tangible impact upon the development of their organisation, both in the application of new ideas and the resolution of existing problems.

The value added by part-qualified accountants can be of reliable, loyal service as individuals grow attached to organisations of which they see themselves an important component part. As their professional, and often academic skills progress, so too do their intrinsic worth to financial services organisations, as their industry knowledge builds. The same organisations will look to build on individuals’ potential, not just recruit developed talent, as the organic growth and promotion of individuals from junior to senior level often prevails over inorganic acquisition.

 

To find a new PQ Accountancy or any other finance and accountancy role, click here 

Look before you leap to find an Accountancy job that's right for you

 

By Stuart Kerslake

Stuart Kerslake is a CIMA qualified accountant, and after working for 25 years “in industry”, and 10 years “in practice” running both a final accounts/tax return business and a part-time/virtual FD business, Stuart now helps other accountants who want to make a change in their working lives.   

If you’re one of those who often begrudgingly returns to work after a long weekend, a holiday or even a weekend, do any of the following ring true?

• You come into work every day, feeling disgruntled, frustrated or undervalued?
• You no longer enjoy what you do for a living?
• You’re less effective at work, and grumpy with your colleagues and family? 

Female accountants feel gender prevents success – but salary gap is shrinking

According to research by accountancy and finance recruiter Marks Sattin, more than half of women (51%) feel their gender is a barrier to career success. This compares to just 12% of men who feel their gender restricts their ability to achieve promotion and receive salary increases. 

But the disparity between male and female salary in the accountancy industry appears to be shrinking. According to the ONS’ Annual Survey of hours and earnings, female accountants earned an average salary of £32,080 last year, while men received £38,500[i], meaning women were paid on average 81% of the male average salary. In 2010, female accountants were paid £32,120, which represents just over three quarters (77%) of the average salary of £41,700 paid to men. 

Dave Way, managing director of Marks Sattin said: “The accountancy industry must be proud that the gender pay gap is being narrowed, but the fact that women working full-time are still receiving a fifth less than their male peers reminds us all of the vital work that needs to be done to ensure female accountants operate on a level playing field. 

“Received wisdom has been that pay disparities have been because female employees are generally less willing to demand pay rises from their employer. But the narrowing of the pay gap over the last year demonstrates women are increasingly aware they shouldn’t settle for smaller salaries. The lesson for those who think their gender is preventing them from enjoying career success is to consider the opportunities available elsewhere”.

 Reaching the top

While the narrowing of the pay divide is an encouraging sign of a more level playing field for women in the accountancy industry, Marks Sattin’s analysis of the proportion of women in senior positions among the Big 4 accounting firms provides less positive news. Less than 14% of the European and UK boards of the Big 4 accounting firms are currently made up by women, suggesting that reaching the highest positions in major firms remains significantly more difficult for women than men[ii]. 

The findings indicate a number of the major accountancy employers may struggle to meet Lord Davies’ recommendation that at least 25% of board positions in the FTSE 350 should be occupied by women by 2015. The CBI has reported 14.5% of board positions in the FTSE 100 are currently held by women, well short of Lord Davies’ voluntary target. 

Dave Way continues: “True gender equality can’t be achieved through pay parity alone. While employers in the accountancy industry are bringing in roughly equal numbers of men and women at graduate level, only a very small proportion of women seem to be able to reach the top. 

“One of the biggest drivers of the conspicuous absence of women in top positions is a sense of disenfranchisement among female employees from the tops of companies. The fact that so many more women than men consider themselves at a disadvantage in terms of career development is testament to this. It’s essential employers work hard to encourage and develop female talent for the top roles, but also that women actively push themselves forward for senior roles and don’t allow the historical precedent to determine the future composition of board rooms”. 

Marks Sattin 

 Founded in 1988, Marks Sattin Ireland is an accountancy and finance and recruiter and a key member of the FiveTen Group.

FiveTen Group 

Backed by the private equity firm, Bregal Capital, FiveTen Group is a leading specialist recruitment business with significant operations in Europe, the UK, Asia – Pacific, USA and Russia.  It now has a portfolio of recruitment brands, including Greythorn in IT and Telecoms, Laurence Simons in legal, EMR in marketing and Ortus in human resources.  Its most recent acquisition was Antal Russia, the market leader in professional recruitment in the region.

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[i] According to ONS Annual survey of house and earnings 2011

[ii] Calculated using figures from KPMG’s European board, PWC’s UK financial team, Ernst & Young’s European leadership and management committee and Deloitte’s UK executive group

 

To find a new accountancy opportunity, search and apply on GAAPweb

Market insights from Finance’s leading professionals

 

 

As two of the leading names in financial recruitment, GAAPweb and Michael Page Finance have recently joined forces to conduct a market trends survey across their highest-level industry contacts. 

On May 3^rd, we’ll be hosting a webinar to present our findings and offer a detailed overview of the current finance market in the UK.

Led by Richard Vickers (regional managing director, Michael Page Finance) and Paul Halliwell (managing director of GAAPweb), the webinar will be a unique opportunity to get comprehensive market insight from some of the UK’s most prominent financial professionals.

We hope you’ll join us on 3 May 2012, from 12.30pm - 1.00pm BST but in the meantime, here’s a quick run-down of some of the areas that will be covered:

Market trends and key challenges

We asked our financial professionals what they consider to be the top challenges facing the market this year, along with the solutions/strategies they will be adopting to help ensure stability and growth.

As the economic outlook shows some signs of improvement, we expect to witness more movement in the market and subsequently the need for more robust retention measures. In addition, our survey has revealed that increased reporting demands are a putting pressure on resources in many finance departments and the implementation of new systems and processes continues to be a challenge across teams.

Skills in demand

Which roles will be the most important within finance teams over the coming months and what skills and experience are in demand? With some budget restrictions still at large, we look at the common requirements of businesses in the industry and what specific skills are most sought-after. As hiring managers continue to approach recruitment with caution, their hiring choices must demonstrate immediate, significant impact to the bottom line.

The international market

How many of these high-level financial figures would consider moving internationally? Our webinar reveals the international intentions and global aspirations of the UK marketplace. For example, there’s evidently a healthy appetite for international mobility, with 46% of ambitious professionals potentially looking to other global financial centres for rapid career progression.

For a detailed and statistical analysis of today’s financial market, you can register for our webinar here:

 

Will you be attending? Have you got a question you'd like answered? Feel free to leave your queries and comments below

To find a new accountancy or finance opportunity with Michael Page Finance, click here

Chris Daems' Top Tips for Accountancy Success

By Chris Daems

Chris Daems is the director of Principal Financial Solutions, a small financial planning practice based in the city of London.  During his career, Chris worked for a number of large financial institutions before setting up his own business.  Chris’s experience is working with both medium sized businesses and high net worth individual clients.

According to recent analysis by company formations firm Duport, there has been a record number of accountancy and bookkeeping start-up business in March 2012.  

The research also indicates that more individuals are moving away from a corporate environment and seting up their own businesses, especially in the financial services sector. Having have set up and continuing to run a financial services business, I wanted to share with you what I've learned over the past few years about setting up and running my firm but lessons that also apply to every accountancy professional.