You’ve passed your exams, your CA diary is nearly complete, and the finish line for your training contract is finally in sight. But now comes the big question: what’s next?
Do you stay in practice, or is it time to move into industry?
The right choice depends on your career goals, ambitions, and personal preferences.
For the purposes of this article, I will mainly focus on accountants who trained in audit. If you’re in tax, advisory, or another specialist area, your decision may look a little different. (Feel free to reach out if you would like to discuss)
Does Staying in Practice Make You More Desirable to Industry?
I’ve often been asked by newly qualified accountants if it’s true that the longer they stay in practice, the better their chances of securing a great industry role.
In reality, the answer isn’t always clear cut.
Staying on for an extra year after your training contract may be useful, especially if you have progressed to Assistant Manager level.
However, staying too long can lead to challenges when the time comes to make the move to industry:
- Industry employers may see you as too “Audit-Focused” – If you’ve spent too many years in practice, businesses may assume you lack commercial experience.
- Challenges finding a role at the same or higher level – You’ve reached Senior Manager level but are now finding it difficult to secure a role outside of practice. This usually links back to the fact that you have in-depth audit experience but lack “practical” experience in a company. The exception may be specialised technical or internal audit roles, but if you are looking for something in FP&A or Commercial Accounting the gap becomes wider.
- Salary Adjustments May Be Necessary – Linking back to the point above, once you reach a more senior level in practice you have a higher salary. Making the move to industry AND getting a salary increase can be a challenge. Sometimes compromising on salary may be necessary.
What are the pros of staying on in practice?
Staying in practice can still bring a lot of benefits to your career, particularly if you are looking to specialise further or eventually progress into partnership.
- Structured career progression – Moving up to assistant manager, manager, and beyond tends to follow a clear, predictable path.
- Exposure to a variety of clients – While this can help build expertise, keep in mind that many auditors work within a single sector (e.g., financial services, manufacturing).
- Strong technical development – If you enjoy technical accounting and want to specialise in audit, tax, or advisory, staying in practice can deepen your expertise.
You are sure you want to move to industry!
For many newly qualified accountants, industry is the natural next step. I regularly hear people say they are keen to be “part of a business” rather than working as an external advisor and they want to see the impact of the numbers not just review them.
Several people have also mentioned they want to work in a role where people are happy to see them come in. It’s not always easy being an auditor!
What are the pros of making the transition to industry early in your career?
- More opportunity at this stage– Generally tends to be more available roles at this level so there are more options available.
- Sector transitions can be easier – if you trained in Financial Services but know you want to work in a different industry the transition can be significantly smoother at this level.
- Instead of auditing financial statements, you’ll get toprepare them andsee the real-world impact of financial decisions.
- Greater perceived career variety – Industry roles can lead to positions like Financial Controller, FP&A Manager, Commercial Finance Lead, or even CFO.
- Better Work-Life Balance – Generally, fewer late nights and weekend work compared to practice.
What’s the Right Choice?
There’s no one-size-fits-all answer. If you enjoy the structure and specialisation of practice and see yourself progressing towards partnership, staying on could be a smart move.
But if you’re drawn to commercial decision-making, business strategy, and working within a company, transitioning to industry sooner rather than later is often the best choice.
Key Takeaway
Don’t stay in practice longer than necessary if your long-term goal is to move into industry. The longer you wait, the harder the transition may become.
Whichever path you choose, make sure it aligns with your career goals and personal aspirations. If you need help navigating your next career move, feel free to reach out—I’d be happy to offer guidance!
