What does career progression within an accountancy firm look like?
Career progression in an accountancy firm typically follows a structured path with clear milestones and titles. Here’s a typical progression, though it can vary slightly depending on the firm and region:
Trainee
Role: Entry-level position where individuals, often students or recent graduates, gain work experience. They usually work while studying for professional qualifications (e.g. AAT, ACCA, ACA, CTA etc).
Responsibilities: Basic accounting tasks, data entry, assisting with audits, and learning firm processes.
Duration: 1-3 years depending on the firm and qualification progress.
Senior Accountant/Senior Associate
Role: After completing professional qualifications or gaining some experience, individuals move to a Senior role. More responsibility in terms of managing clients, handling complex financial tasks, and leading junior staff.
Responsibilities: Preparing financial statements, performing audits, tax filings and ad hoc tax advisory work, and working under the guidance of Managers.
Duration: 2-5 years.
Assistant Manager/Manager
Role: Management of teams and overseeing client projects. Managers also begin to take on more leadership and client-facing responsibilities.
Responsibilities: Leading audit or consulting teams, managing multiple clients, ensuring the timely delivery of services, and acting as the point of contact for key clients. They also begin contributing to business development.
Duration: 3-5 years.
Senior Manager
Role: At this stage, individuals have a significant leadership role within the firm, managing large accounts or leading multiple projects. Senior managers are also responsible for client retention and business development.
Responsibilities: Overseeing large-scale audits, tax advisory services, consulting, managing larger teams, and often having P&L (profit and loss) responsibility for a department or client group.
Duration: 3-7 years.
Director/Associate Partner
Role: Directors are just below the partner level and are heavily involved in the strategic management of the firm. They may not have equity in the firm but are highly influential in decision-making.
Responsibilities: Developing new business, managing the firm’s largest clients, contributing to the firm’s strategy, and mentoring senior managers and managers.
Duration: Variable (some stay at this level without progressing to partner).
Partner
Role: Partners are equity holders in the firm and have a significant say in its overall direction. They are also responsible for bringing in new business and maintaining the firm’s client base.
Responsibilities: High-level strategic decisions, growing the firm’s client portfolio, representing the firm, and ensuring profitability. Partners are typically the public face of the firm in client relationships.
Duration: It takes around 10-15 years from the entry level to reach partner, though it varies by firm and individual.
Additional Considerations:
Specialisation: At any stage, accountants may choose to specialise in areas like audit, tax, forensic accounting, advisory, or corporate finance.
Professional Certifications: Throughout this progression, professional qualifications (like CTA, ACCA, ACA etc) are crucial for advancement.
Lateral Moves: Depending on the firm, career progression may also involve lateral moves into different service lines or roles (e.g., moving from audit to consulting).
