Newly Qualified In Practice - What’s Next?

First off, congratulations! Passing your ACA is no small feat. You’ve completed 15 exams, logged 450+ days of practical work experience, and balanced work with study for 3+ years. That’s a huge achievement and a real game-changer for your career. You should be extremely proud of this achievement. First and foremost – treat yourself! You deserve it!

Now comes the big question: what’s next?

Firstly - Talk to People!

It sounds basic BUT before you make any decisions, start conversations:

• Colleagues and peers who’ve already made the move

• Specialist finance recruiters (yes, like me!)

• Your network - LinkedIn is full of people willing to share their experiences

Real stories beat assumptions every time. Ask:

• What did they do after qualifying?

• What worked well?

• What would they do differently?

Your Options: Practice vs Industry

Staying in Practice

If you have the practice bug and you want stay, expect:

• Promotion - Assistant Manager → Manager → Senior Manager

• Specialisation - Tax, Audit Quality, Advisory, Risk, Forensics

• Niche areas - Sustainability reporting, technical accounting

Salary guide:

• Mid-tier firms: £42k - £48k

• Big 4: £48k - £55k

Fact: Around 40% of newly qualified ACAs stay in practice for at least 12 months post-qualification, often to secure a promotion before moving.

Moving into Industry

If you are looking at pastures new, here’s where it gets exciting, but a little more complex. Decide - Are you taking a Technical route or a Commercial route?

Example Technical Route

• Financial Accountant

• Group Accountant

• Technical Accounting Specialist

• Financial Controller

• Head of Finance → FD/CFO

Example Commercial Route

• FP&A Analyst

• Senior FP&A Analyst

• FP&A Manager

• Commercial Finance Manager

• Head of FP&A

Fact: Around 60% of ACAs move into industry within 6 months of qualifying, with Financial Accountant being the most common first step. Taking a Financial Accountant role as your first move is the most natural step - using the technical knowledge you have spent years perfecting.

Salary Expectations - The Reality

Industry roles for newly qualified ACAs typically range £45k - £60k, depending on sector and size.

• Big 4 background? Highly desirable but stay realistic with your expectations.

• Big 10 background? Very desirable.

NB - Just because your mate Joe landed £63k + car + bonus on his move out of PwC doesn’t mean that’s the norm. If you secure a high salary initially you will struggle to match or increase this if you move again within the first couple of years. There is no shame in salary being your top priority but don’t lose your head. Stay grounded.

Fact: The average salary uplift when moving from practice to industry is 20 - 30%, but benefits and flexibility often matter more than headline numbers.

Think About Sectors

Numbers are numbers, but wouldn’t you rather work somewhere you feel passionate? Tech, retail, manufacturing, charity - the sector matters for your job satisfaction.

Tip: Larger businesses often offer structured development programs, while SMEs can give you broader exposure and faster progression.

Benefits Matter

Salary isn’t everything (even though it may sometimes feel like it). Consider:

• Bonus - this is a great to have but remember it’s not guaranteed.

• Flexibility - this could be hours you work or hybrid options, are you happy to be in office full time?

• Maternity pay - Are you thinking about planning a family? Don’t be afraid to ask about this because it matters! Companies are only required to offer statutory maternity pay, some incredible business I have worked with offer 12 months FULL PAY - again this is not the norm so be realistic.

• Pension, healthcare, study support for further quals - these might be lower down on your list of priorities but again, get curios and ask the questions!

Fact: Over 70% of finance professionals rank flexible working as a top priority when choosing their next role.

Long-Term Goals

If you want to be an FD or CFO, you’ll need to move through roles like:

• Financial Accountant → Finance Manager → Financial Controller → Head of Finance → FD/CFO

If FP&A is your dream:

• Management Accountant → FP&A Analyst → FP&A Manager → Head of FP&A

Corporate Finance? One of the hardest areas to break into - networking and timing are everything.

Fact: The average time from ACA qualification to FD/CFO is 10 - 15 years, depending on sector and progression speed.

Polish Your CV

• Never pay someone to write it for you - recruiters can help for free.

• Highlight achievements, not just responsibilities.

• Keep it clean, concise, and tailored to your target role.

Get Visible

LinkedIn is your most valuable asset right now. If I can’t see you, businesses can’t either.

• Post about your achievement

• Engage with content

• Connect with people in your target roles

Fact: Candidates who actively engage on LinkedIn are 40% more likely to be approached by employers. So get active!!

Checklist: Next Steps

Celebrate your achievement Take a well-earned break and treat yourself Talk to people - colleagues, recruiters, mentors Decide: Practice or Industry Choose your route: Technical or Commercial Research sectors and roles Set long-term goals Polish your CV Get active on LinkedIn Make informed, smart moves

Bottom line: This is the start of something amazing. Keep your head, stay grounded, and make decisions that align with where you want to be in 5 - 10 years.

Final Thought

This is just a snapshot of what you need to be thinking about right now. Don’t let it overwhelm you - break it down into manageable steps.

And most importantly, don’t feel pressured into anything by anyone (including recruiters!) If something doesn’t feel right now, it’s unlikely to feel right once you start your new role.

I’m here to support you through the entire process - from exploring options to landing your next role and everything in between. Think of me as your career cheerleader.

The key is clarity from the start. Once you enter a recruitment process, things move quickly, competition ramps up, and you need to be prepared, confident, and committed.

If you’re thinking about your next steps, get in touch and let’s make it happen!