Moving From Practice? - SME vs Larger Corporations
Newly qualified accountants looking for their first move into the industry often find themselves comparing the pros and cons of a smaller-sized enterprise versus the pull of a larger potentially well-known corporate brand. So which is the right move for you?
Personality Type
The single biggest factor is the individual themselves and this is something that often doesn't get the consideration it should. What are you looking to achieve, how set on that goal are you and what time frames are you associating with those goals. One thing that is often overlooked though is where that person would be most comfortable. A large business where you might share an open floor plan with other departments with varying personalities and volumes might sound OK to some but for others, it would be a huge concern. What is the price of not giving this enough consideration?
Mentorship
According to government statistics, 61% of employees work in the SME sector. You might feel a smaller team would give you more direct access to your manager and mentor. You often hear terms like close-knit, approachable, and supportive when discussing an SME business and their accounting structure. That isn't to say you can't find similar within larger organisations but it would be fair to say that on average there is slightly less in the way of time pressures within SME business and that can affect the relationship you are able to build with both senior managers and peers alike.
Opportunity to Progress
This is where most people focus their time and attention when planning out their next career move. In almost all cases you will find yourself a broader finance role with an SME business which for many is a huge pull. But where will that role lead to? A progressive or acquisitive SME will often have a succession plan but sometimes the answer is nowhere unless your manager vacates their role, and this is the single biggest reason many opt for a first move out of practice and into the large glossy offices of the FTSE 250. Another reason is those specifically looking for more commercial roles. The opportunity to move into various departments within a larger organisation across commercial finance is hugely appealing.
Hybrid Working
Most job seekers are keen to secure flexible working arrangements these days and most employers are happy to oblige but this can come at a cost. It is difficult to forge relationships and understand a company culture when a hybrid working model is in place that doesn't require much time in the office. If it is a big company, you can sometimes feel that you don't settle or belong, whereas smaller companies have a more 'family' feel and often lead to people settling a bit quicker. There are fewer names to learn for starters.
Demand is strong across both markets at present. Articles and case studies provide very good research and points of discussion but if you are considering a move into the industry reach out and talk to us.
