Grace Caraher, senior consultant with Brightwater’s Financial Services division, talks through the opportunities for newly-qualified accountants.

Over the coming weeks and months, newly qualified accountants will begin to look for employment opportunities in the industry. We in Brightwater have already noticed an increase in the number of recent graduates reaching out to us for guidance on their next move. So, for those who have received their parchment and are now finished graduation celebrations, what can they expect as they embark on their professional careers?

The positive news for newly qualified accountants, is that the market is incredibly buoyant right now and can offer a broad range of roles within industry, practice and financial services. Brightwater has continued to see a steady demand for those in audit, financial reporting, management accounting, compliance, internal audit, financial analysis and group consolidation.

Financial services is one sector that offers plenty of career potential for accountants. A recent survey from Brightwater showed that nearly 50% of financial services firms expected growth across their firms in 2018 and we have certainly seen an increase in the number of jobs registered with us.

Growth sectors within financial services include aircraft leasing, insurance, fintech (Dublin is a major hub for this) and asset management. Roles at the newly qualified level are mainly financial accounting, financial analysis and internal audit, all of which offer great career development paths.

Benefit Packages

Benefit packages are hugely important across the industry with many firms looking to create novel or unique incentives to make them more attractive than their competition. Standard benefits include pension (typically 5 – 8% employee contribution), health care (typically fully paid), income protection, death in service benefits, education support, professional membership fees and 22 – 26 days annual leave.

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Additional benefits include medical checks, dry cleaning, lunch allowances, subsidised canteens, ability to purchase further annual level, flexi time (working from home options) and gym subscriptions.

Bonuses are also typical across the industry, 2 – 8% at junior levels (0 – 3 years’ experience), 5 – 10% at mid-levels (3 – 6 years’ experience) and 10 – 15% at more senior levels (6 – 10 years’ experience).

The opportunities that will open up for these newly qualified accountants this year will also see their earning potential increase. The 2018 Brightwater Salary Survey, based on responses from 3,500 employers and employees, found that newly qualified accountants working in financial services in Dublin are currently earning anywhere from €45,000 to €52,000 a year, which could represent a salary increase of up to 37% when compared with the salary of a part-qualified accountant.

If you are interested in moving, remember to update both your CV and your LinkedIn profile to reflect your new status as a qualified accountant. You’ve worked hard to get it so don’t be afraid to shout it from the roof-tops.