Every student focuses on her or his studying and exams. After sleepless nights and stressful examinations, a newly qualified professional starts to seek how to progress professionally.
We are on 28000 days on the planet on average and work for 10000 of these days. Thus, it is the crucial thing to decide where you want to be?
If you think about Practice, there are some aspects to consider: the variety of tasks (corporate finance, tax, foreingsic accounting, internal audit, business advisory services etc.), client interaction, team work and an organisational culture where many people are young and in training. The Practice has the working culture which is open to the learning and development.
Financial services are offered by the investment banks, hedge funds, private equity houses, insurance companies, etc. They all have the team-based cultures. New ideas and improvements are always welcome there. The extensive clients relationships are in demand due to complexity of transactions.
Jobs in Pubic sector can provide ideal environment with flexible time scheme. It is beneficial to employees with parental responsibilities or those who want to make the best for their spare time. In addition to life-work balance benefit, Public sector provides the study support, CPD and Prince2 sponsorship in the UK. It makes this sector more attractive for financial professionals.
As a financial professional, you should to assess yourself as an asset. Your fair value depends on education and qualification, performance, perception, experience, responsibility, geographical location and industry. Be aware of the latest salary surveys which provide the information you can use as the basis for your own assessment.
To increase your worth, take some steps:
1. Focus on your performance and have a clear development plan.
2. Be aware of the perception of you in the company. Fix any bits which hurted your personal brand. Ask about the feedback on your work.
3. Consider the relocation option to increase your worth.
4. Be an industry expert. It increases your chances to be in a short list of candidates.
5. Develop your business skills (step #4 above), especially communication skills.
Continuing professional development (CPD) includes:
- workplace development (discussion groups, mentoring and coaching, briefings from auditors)
- completing futher study or qualifications
- e-Learning
- attending courses, seminars or conferences.
Thus, there are seven steps towards your career development. When you decided what do you want and how to get there, which knowledge and competencies do you need, which organization do you prefer and how much is your cost, and maintain permanent development of your value, you do all possible from your side to be successful. Keep regular relationship with recruitment consultants. Therefore, they can help you to reach your targets from their sides.
We are on 28000 days on the planet on average and work for 10000 of these days. Thus, it is the crucial thing to decide where you want to be?
Step #1 Establish the reasons for your move
Consider if you have exhausted all avenues with your current employer before you move?
Be honest and ask yourself why do you want to leave your current role?
What are the chances that this reason being a problem in new role?
Is what you want realistic? Is it achievable?
Are you leaving for positive or negative reasons? Are you seeking a challenge or running from a problem?
Step #2 Indentify what you want
You need establish your preferences to sharp your future.
Would you prefer to work in a public or private sector?
Do you envisage to work in a global organisation?
What is your preferred culture?
How much travel would you be prepared to do?
How much customers contact do you want?
What is more important for you money or the status?
Do you envisage managing the people?
Would you consider taking MBA?
No job is 100% perfect 100% of the time. Thus, all your desires cannot be achievable in one career. Prioritise your wants and determine which factors are you ready to compromise over.
Step #3 How to get there
You have establish the environment and role which you are looking for. Next step is to define where you are and where you want to be. Usually there are some gaps between them which should be eliminated by:
- gaining the skills and competencies required;
- additional qualification demanded;
- practical experience which is needed to build;
- personal attributes demonstrated.
Shaping yourself is a long-term game. So, start your journey as soon as possible in the right direction. It saves time later on.
Step #4 Competencies to develop
There are many various qualities required for career progression. The main competencies to develop for a successful career include excellent communication skills, teamwork, commercial awareness and leadership.
The corporations usually have the complex internal infrastructure. The ability to influence people internally is crucial, especially non-finance professionals.
Financial professionals should communicate with both internal and external stakeholders. Investors and bankers became more demanding and have auditors.
Teamwork becomes appreciated. The employers seek for individuals who are technically competent. In addition, they look for someone who works effectively as a part of team. Be sure to have a story or two about your team experience at work & study, in sports or social projects.
Not only auditors need to get understanding of business and environment of their clients. Every financial professional needs to be aware of the business they work for and macroeconomic factors influence it.
Leadership is a social process. It is about the delivering through others, by leading people, not machines. Finance professionals have a tendency to be task-oriented. This makes them great technicians, but not necessary the leaders. Motivate your colleagues, truly connect with people and demonstrate your entrepreneural vision. These are intangible assets in your personal balance sheet which help you to reach the top.
Step #5 Preferred working culture
Culturies depend on the type of organisation. It may even change between departments within the company. There are four main sectors which recruit financial professionals: public practice, financial services, commerce and the public sector.
The private sector is most diverse in terms of working culture. Organizations range from oil giants to small retailers, from airlines to IT companies.
Smaller organizations are more responsive to change and foster the innovations while the big corporations may provide clear reporting lines and career development with the resistance to innovations and changes.
Financial services are offered by the investment banks, hedge funds, private equity houses, insurance companies, etc. They all have the team-based cultures. New ideas and improvements are always welcome there. The extensive clients relationships are in demand due to complexity of transactions.
Jobs in Pubic sector can provide ideal environment with flexible time scheme. It is beneficial to employees with parental responsibilities or those who want to make the best for their spare time. In addition to life-work balance benefit, Public sector provides the study support, CPD and Prince2 sponsorship in the UK. It makes this sector more attractive for financial professionals.
Step #6 Your market value
As a financial professional, you should to assess yourself as an asset. Your fair value depends on education and qualification, performance, perception, experience, responsibility, geographical location and industry. Be aware of the latest salary surveys which provide the information you can use as the basis for your own assessment.
To increase your worth, take some steps:
1. Focus on your performance and have a clear development plan.
2. Be aware of the perception of you in the company. Fix any bits which hurted your personal brand. Ask about the feedback on your work.
3. Consider the relocation option to increase your worth.
4. Be an industry expert. It increases your chances to be in a short list of candidates.
5. Develop your business skills (step #4 above), especially communication skills.
Step #7 Professional development
Professional development is endless life process for every truly professional. Most of my friends consider to continue their development after ACCA qualification. They plan to complete other financial qualifications as CPA, CFA, CGA or MBA. ACCA, CPA, CFA, CGA, CIMA, ICAEW and other professional institutions require from their members to continue their professional development. ACCA requires at least 40 hours of learning activities from their members.Continuing professional development (CPD) includes:
- workplace development (discussion groups, mentoring and coaching, briefings from auditors)
- completing futher study or qualifications
- e-Learning
- attending courses, seminars or conferences.
Thus, there are seven steps towards your career development. When you decided what do you want and how to get there, which knowledge and competencies do you need, which organization do you prefer and how much is your cost, and maintain permanent development of your value, you do all possible from your side to be successful. Keep regular relationship with recruitment consultants. Therefore, they can help you to reach your targets from their sides.
Your writing style is engaging and informative. Looking forward to more posts
ReplyDeleteCareer development coaching