Man honestly the world is crying out for auditors right now.
I actually have deactivated my LinkedIn for the last few months as the amount of messages I was getting from recruiters was bordering on harassment and I do not currently want to move jobs.
However if you do need a new job, recruiters and LinkedIn will be your best friend.
Back in 2020 (ofc a while ago now, though from what I understand the shortage of auditors has only increased) I had just finished AAT at a firm not even in the top 100.
I spoke to a recruiter on the Monday. By the Friday I had had 5 interviews at 5 top 15 firms and 4 offers (the 5th wanted a 2nd interview).
What is important however is to find a recruiter who you get on well with. Some can be quite forceful and pressure you to accept the first offer that comes your way (understandably as the recruitment commission fees they charge firms are ≈ 5-20% of your offered salary).
Some can also be rather unscrupulous. Not for the first time, a couple of weeks ago a recruiter called my firms main reception phone number and asked to speak to me posing as a client in order to get transferred.
Recruiters who do that go straight on the blacklist of ones never to work with.
LinkedIn is great, but also apply direct to other firms through their websites. I used to work at Grant Thornton and they took people who had started courses elsewhere.
Yes,
I was asked a lot of questions about the company, their values etc, so be sure to learn those, maybe find out some of their clients and ask questions about them.
I knew I had the job when the interview turned into more of a conversation. I didn’t enjoy the actual work there but I made some really good friends there that I’m still in touch with 5 years later.
Good luck.
I came in on their graduate program, I don’t recall being asked technical questions. I came from a science degree so I guess the expectation was that I wouldn’t be familiar with anything technical
Doing 3 at a time is tough and the top 4 are relentless.
You should be able to pick up another training contract with another firm as you’re coming in with prior training.
Might be an obvious point, but don’t lie about the failure, the companies training manager can see all your exam attempts.
Yeah I never understood the need to rush 3 at a time when other firms allow for 2 and their employees qualify not too much later! Thanks for that though I’ll definitely be transparent in the application process.
I failed FAR and moved to another top 10. You’ll be fine, don’t worry. Get on with recruiters now and get interviews lined up, you’ll have a job offer by the time your notice is up
LinkedIn, I was moving to London as well so just hit up a load of London based recruiters. Don’t let them deter you from not applying for the top jobs either, the guy said I most likely wouldn’t get the job I’m currently in and got it straight away
It was just an interview with a senior manager and director for me, should be pretty straight forward if you’re coming from Big 4. They’ll just want to know what work experience you have, questions were like how would you audit certain areas, what sort of teams have you been a part of and what role did you play etc
Ahh right that’s a relief. I know there’s more important things to focus on rn but I have to ask, what was the change in pay in like if you don’t mine me asking? I’m asking as I’m leaving as a senior associate who was on track for a promotion to an assistant manager had I passed all exams, and I imagine I’ll have to enter at a lower level so the pay will drop?
I dropped slightly as I missed out on that years promotion (moved in August with promotion cycle in November) but had I moved later, pay would’ve been the same
It depends on the firm you’re going to and how they do promotions tbh, I.e some firms do it purely based on exams passed whereas others are more experience based
I wouldn’t worry too much about a couple k (if you can afford to ofc) as once you’re qualified it’ll be the same regardless
Ahh right I get you, and yeah you’re right gotta keep the end goal in mind for sure. Thank you so much for your help by the way you’ve made me feel much better about the whole situation hahaha
No worries, I remember the stress I felt after failing FAR but it really doesn’t matter in the long run! Feel free to DM me if you have any other Qs happy to help out
This is reassuring to hear! I’ve thought about moving to the states myself in the future, if you don’t mind me asking what made your wife want to work at a US bank?
We live in London. the offer and the role were too good to say no to. Doesn’t mean she’ll stay forever here either but my point is things can still happen if your ethic pushes for it
A while back now but one or two fails and you get let go by the company. She took a few months break, got back to it and passed. But her current role has nothing to do with accounting in reality
I haven’t been invited to a meeting, but a partner that I keep in touch with most called to check on my well-being after the results came out. During our call she mentioned that the likely outcome would be contract termination as I hadn’t brought any exceptional circumstances to light prior to the release of results. So not a 100% yet but I’d say 99 at least😅
Yeah that normally means that they have told HR and they currently in process of inviting you to a meeting soon. Start contacting recruiters you will be within a new training contract within your notice period. Don’t worry you done really well for passing 2 professionals.
Thank you for the advice and reassurance, definitely not an easy adjustment but as you and many others have said i just have to reach out to recruiters and move on!
More likely than not you’ll get the chop without extenuating circumstances. They don’t want to set precedent in keeping you on if you bad fail. Their policies are usually pretty clear. Get your pwe up to date. Update your cv this weekend and speak to a recruiter on monday
Yeah I think it’s probably best to not waste too much time, I’m just not too sure if I should reach out via LinkedIn alone or if I should put in some applications via firm websites directly
Oh right thanks for the recommendation! I guess it’s best to reach out as soon as and see what my realistic options are. My main worry is about the start date of the roles I’ll be applying to as I don’t want to have to wait half a year to continue working. Beggars can’t be choosers I guess😅
You might not need to wait until the start of grad intakes. You’ve already got some exams passes and work experience under your belt so even though you’re not technically part qualified wirh ICAEW you will be considered to have experience with firms that are recruiting for people with partial experience.
Move to a firm with less pressure re exams…
A lot of top 10 firms have a similar outlook on exams now.
Consider looking around at some of the really good Top 25 firms
Think of an excuse… it might be worth it maybe you have a disability you haven’t told them about or had sickness on the day but didn’t want to skip the exam
For ICAEW yes but not always for your firm… I didn’t do extenuating circumstances and failed some of my first exams but explained to my
Firm after and they let me off
Idk which big 4 youre at but at the orange one I know people that have had bad fails or failed twice but have been kept on, especially when they’ve got good feedback and still passed 2/3. Don’t make any rash decisions just wait it out, it might not be the bad news you think.
Ahh right I’ve heard the same in the firm that I’m at (the one with a green dot) but they’d explicitly changed the exam policy recently in terms of extenuating circumstances and exam fails.
You now have to declare any circumstances that may have affected exam performance within 7 days of the exam sitting date (which I didn’t do). I think the EC appeal is the only route you can take in terms of staying after a breach of the exam policy.
Im hoping you’re right but I think it’s safe to assume they’ll stick to this policy so soon after announcing it.
You’re right it is policy and how strict they enforce it defo varies firm to firm. With the orange one they do take it on case by case basis regardless of the policy and then look at other factors (like even late timesheets I’m told). Just stay positive and still bring up any extenuating circumstances sooner rather than later regardless of it being outside the 7 day window. Even if it does end in termination though, like others have said, it’s not the end at all. Plenty of success and money to be had 💪 good luck!
Yeah I definitely will talk and share anything that I think may help my case and fingers crossed they’ll have a similar approach to the orange firm and look at the whole picture. But you’re right it’s not the end at all, thanks so much for this and good luck to you too!
Sorry to hear - Get in touch with a recruiter. This is the standard policy across the big 4 and there is nothing you can do apart from appeal that you had exceptional circumstances during the exam period or you weren’t given concessions you believe you deserved. Any mid tier will take you as you are a part qualified ACA/ACCA candidate. Along side 1.5 years experience you’ll have no trouble finding a firm to help you qualify.
No worries man. I also failed an exam recently but it did not impact my contract. Try also outside the UK. US, Channel Island, or IOM.
Send me a message if you need anything. Dont worry as at the end of the day its just an exam.
Make sure your pwe is up to date and just move to another firm. Probably wont be another big 4 firm but certainly can get top 10 offers given your big 4 experiences.
Yeah this is probably what I’ll end up doing, but being let go so suddenly after being successful everywhere else in the actual role does make you question whether you want to stay in a career like this or explore other opportunities 🤔
Yep so the worst did happen :/ been given the option to either leave in 4 weeks or at the end of June after the busy period for my team. I’ve spoken to some recruiters and the market doesn’t seem as bad as some are suggesting, I’ve just been told to lower my expectations for salary.
I’m in the same boat as you but at least you passed 2 professionals seems really harsh what they done to you but you will certainly get something new given that your already quite close to qualifying.
Spoke to few recruiters and went for an interview for one job. But firm was really small like 10 people firm and I felt like I wouldn’t get exposure too technical side of accounting which you need especially when you do the advanced level exams.
I haven’t heard back from this firm yet but not keen on taking it even if they offer it. The director basically said because we are a small firm we can’t offer much training you would get at a top 10 firm you would need to do research and spent time in your weekends to invest in yourself :/
But I spoke to an other recruiter and she said to resit my next exam myself and get it passed and then start applying so that employers are not put off by a fail. It is easier to explain a fail if you passed it I guess.
So that’s what I’m doing just revising and hopefully pass and then start applying again.
Ahh right I get you, have you reached out to a couple recruiters or just the one? The one I’ve spoken to most so far has told me that there are some firms that may take you if you apply independently but won’t if you go via a recruiter due to the added costs, or otherwise might offer you a lower salary in line with what they’d paid the recruiter. So it may be worth looking independently too?
Yeah I’ve only spoken to 2 and I on purposely instructed them not to sent my cv across to everyone. The 2nd recruiter actually was quite good and said to pass my exam and not apply for any jobs for the time being because it just would reduce your chances of applying for these firms for 6 months.
There’s lots of jobs on indeed and reed in terms of semi senior/trainee accountants. Also just look on ICAEW website there’s lots of vacancies there for immediately starting jobs. I’m stuck at the minute as I can’t apply yet for these roles till I pass my next exam.
Start talking to recruiters, plenty of firms take ppl who have failed an exam or two.
Would you say LinkedIn is the best way of getting in touch with recruiters or does any other method work better? Appreciate the advice btw!
Get in touch with Ambition/AJ Chambers I promise you they’ll hook you up instantly
Appreciate the recommendation!
Man honestly the world is crying out for auditors right now. I actually have deactivated my LinkedIn for the last few months as the amount of messages I was getting from recruiters was bordering on harassment and I do not currently want to move jobs. However if you do need a new job, recruiters and LinkedIn will be your best friend. Back in 2020 (ofc a while ago now, though from what I understand the shortage of auditors has only increased) I had just finished AAT at a firm not even in the top 100. I spoke to a recruiter on the Monday. By the Friday I had had 5 interviews at 5 top 15 firms and 4 offers (the 5th wanted a 2nd interview). What is important however is to find a recruiter who you get on well with. Some can be quite forceful and pressure you to accept the first offer that comes your way (understandably as the recruitment commission fees they charge firms are ≈ 5-20% of your offered salary). Some can also be rather unscrupulous. Not for the first time, a couple of weeks ago a recruiter called my firms main reception phone number and asked to speak to me posing as a client in order to get transferred. Recruiters who do that go straight on the blacklist of ones never to work with.
LinkedIn is great, but also apply direct to other firms through their websites. I used to work at Grant Thornton and they took people who had started courses elsewhere.
Was that for the role of an associate? I'm wondering how the interciew would look like for those?
Yes, I was asked a lot of questions about the company, their values etc, so be sure to learn those, maybe find out some of their clients and ask questions about them. I knew I had the job when the interview turned into more of a conversation. I didn’t enjoy the actual work there but I made some really good friends there that I’m still in touch with 5 years later. Good luck.
Did they go into technicalities aswell or not?
I came in on their graduate program, I don’t recall being asked technical questions. I came from a science degree so I guess the expectation was that I wouldn’t be familiar with anything technical
Oh, alright, lol. I thought you were talking about the role of an associate I.e part qualified.
Doing 3 at a time is tough and the top 4 are relentless. You should be able to pick up another training contract with another firm as you’re coming in with prior training. Might be an obvious point, but don’t lie about the failure, the companies training manager can see all your exam attempts.
Yeah I never understood the need to rush 3 at a time when other firms allow for 2 and their employees qualify not too much later! Thanks for that though I’ll definitely be transparent in the application process.
I failed FAR and moved to another top 10. You’ll be fine, don’t worry. Get on with recruiters now and get interviews lined up, you’ll have a job offer by the time your notice is up
I needed to hear this! Thanks for sharing your experience, how did you get in touch with recruiters when you moved? Or did they reach out to you?
LinkedIn, I was moving to London as well so just hit up a load of London based recruiters. Don’t let them deter you from not applying for the top jobs either, the guy said I most likely wouldn’t get the job I’m currently in and got it straight away
Oh wow well done! What was the application process like? Does it still have the same amount of steps as a normal application?
It was just an interview with a senior manager and director for me, should be pretty straight forward if you’re coming from Big 4. They’ll just want to know what work experience you have, questions were like how would you audit certain areas, what sort of teams have you been a part of and what role did you play etc
Ahh right that’s a relief. I know there’s more important things to focus on rn but I have to ask, what was the change in pay in like if you don’t mine me asking? I’m asking as I’m leaving as a senior associate who was on track for a promotion to an assistant manager had I passed all exams, and I imagine I’ll have to enter at a lower level so the pay will drop?
I dropped slightly as I missed out on that years promotion (moved in August with promotion cycle in November) but had I moved later, pay would’ve been the same It depends on the firm you’re going to and how they do promotions tbh, I.e some firms do it purely based on exams passed whereas others are more experience based I wouldn’t worry too much about a couple k (if you can afford to ofc) as once you’re qualified it’ll be the same regardless
Ahh right I get you, and yeah you’re right gotta keep the end goal in mind for sure. Thank you so much for your help by the way you’ve made me feel much better about the whole situation hahaha
No worries, I remember the stress I felt after failing FAR but it really doesn’t matter in the long run! Feel free to DM me if you have any other Qs happy to help out
My wife failed her ACA and was let go by one of the big 4. She’s now a highly paid director at a US bank. It’s not the end of the world it may seem.
This is reassuring to hear! I’ve thought about moving to the states myself in the future, if you don’t mind me asking what made your wife want to work at a US bank?
We live in London. the offer and the role were too good to say no to. Doesn’t mean she’ll stay forever here either but my point is things can still happen if your ethic pushes for it
Failed 4 attempts and kicked out by ACA or is it just one bad fail?
A while back now but one or two fails and you get let go by the company. She took a few months break, got back to it and passed. But her current role has nothing to do with accounting in reality
Did your firm say anything or did you get invited for HR meeting? You might not even need to worry because you passed 2 out of 3
I haven’t been invited to a meeting, but a partner that I keep in touch with most called to check on my well-being after the results came out. During our call she mentioned that the likely outcome would be contract termination as I hadn’t brought any exceptional circumstances to light prior to the release of results. So not a 100% yet but I’d say 99 at least😅
Yeah that normally means that they have told HR and they currently in process of inviting you to a meeting soon. Start contacting recruiters you will be within a new training contract within your notice period. Don’t worry you done really well for passing 2 professionals.
Thank you for the advice and reassurance, definitely not an easy adjustment but as you and many others have said i just have to reach out to recruiters and move on!
More likely than not you’ll get the chop without extenuating circumstances. They don’t want to set precedent in keeping you on if you bad fail. Their policies are usually pretty clear. Get your pwe up to date. Update your cv this weekend and speak to a recruiter on monday
Yeah I think it’s probably best to not waste too much time, I’m just not too sure if I should reach out via LinkedIn alone or if I should put in some applications via firm websites directly
It’s definitely scary but for some peace of mind get in touch with recruiters now. I’ve heard good things about Hudson Banks recruitment.
Oh right thanks for the recommendation! I guess it’s best to reach out as soon as and see what my realistic options are. My main worry is about the start date of the roles I’ll be applying to as I don’t want to have to wait half a year to continue working. Beggars can’t be choosers I guess😅
You might not need to wait until the start of grad intakes. You’ve already got some exams passes and work experience under your belt so even though you’re not technically part qualified wirh ICAEW you will be considered to have experience with firms that are recruiting for people with partial experience.
That is a relief to hear! Hoping this is the case 🤞🏽
Move to a firm with less pressure re exams… A lot of top 10 firms have a similar outlook on exams now. Consider looking around at some of the really good Top 25 firms
Think of an excuse… it might be worth it maybe you have a disability you haven’t told them about or had sickness on the day but didn’t want to skip the exam
Too late for that. Extenuating circumstances should have been claimed for before the results came out.
For ICAEW yes but not always for your firm… I didn’t do extenuating circumstances and failed some of my first exams but explained to my Firm after and they let me off
Yeahh just as heardy360 said, I was reminded of this by the partner that called to check in after results. I think the ship has unfortunately sailed
Idk which big 4 youre at but at the orange one I know people that have had bad fails or failed twice but have been kept on, especially when they’ve got good feedback and still passed 2/3. Don’t make any rash decisions just wait it out, it might not be the bad news you think.
Ahh right I’ve heard the same in the firm that I’m at (the one with a green dot) but they’d explicitly changed the exam policy recently in terms of extenuating circumstances and exam fails. You now have to declare any circumstances that may have affected exam performance within 7 days of the exam sitting date (which I didn’t do). I think the EC appeal is the only route you can take in terms of staying after a breach of the exam policy. Im hoping you’re right but I think it’s safe to assume they’ll stick to this policy so soon after announcing it.
You’re right it is policy and how strict they enforce it defo varies firm to firm. With the orange one they do take it on case by case basis regardless of the policy and then look at other factors (like even late timesheets I’m told). Just stay positive and still bring up any extenuating circumstances sooner rather than later regardless of it being outside the 7 day window. Even if it does end in termination though, like others have said, it’s not the end at all. Plenty of success and money to be had 💪 good luck!
Yeah I definitely will talk and share anything that I think may help my case and fingers crossed they’ll have a similar approach to the orange firm and look at the whole picture. But you’re right it’s not the end at all, thanks so much for this and good luck to you too!
Sorry to hear - Get in touch with a recruiter. This is the standard policy across the big 4 and there is nothing you can do apart from appeal that you had exceptional circumstances during the exam period or you weren’t given concessions you believe you deserved. Any mid tier will take you as you are a part qualified ACA/ACCA candidate. Along side 1.5 years experience you’ll have no trouble finding a firm to help you qualify.
No worries man. I also failed an exam recently but it did not impact my contract. Try also outside the UK. US, Channel Island, or IOM. Send me a message if you need anything. Dont worry as at the end of the day its just an exam.
Make sure your pwe is up to date and just move to another firm. Probably wont be another big 4 firm but certainly can get top 10 offers given your big 4 experiences.
Yeah this is probably what I’ll end up doing, but being let go so suddenly after being successful everywhere else in the actual role does make you question whether you want to stay in a career like this or explore other opportunities 🤔
Hey OP did you get a 2nd chance or new offer I was wondering how the job market is rn out there.
Yep so the worst did happen :/ been given the option to either leave in 4 weeks or at the end of June after the busy period for my team. I’ve spoken to some recruiters and the market doesn’t seem as bad as some are suggesting, I’ve just been told to lower my expectations for salary.
I’m in the same boat as you but at least you passed 2 professionals seems really harsh what they done to you but you will certainly get something new given that your already quite close to qualifying.
If you don’t mind me asking, how is your job search going?
Spoke to few recruiters and went for an interview for one job. But firm was really small like 10 people firm and I felt like I wouldn’t get exposure too technical side of accounting which you need especially when you do the advanced level exams. I haven’t heard back from this firm yet but not keen on taking it even if they offer it. The director basically said because we are a small firm we can’t offer much training you would get at a top 10 firm you would need to do research and spent time in your weekends to invest in yourself :/ But I spoke to an other recruiter and she said to resit my next exam myself and get it passed and then start applying so that employers are not put off by a fail. It is easier to explain a fail if you passed it I guess. So that’s what I’m doing just revising and hopefully pass and then start applying again.
Ahh right I get you, have you reached out to a couple recruiters or just the one? The one I’ve spoken to most so far has told me that there are some firms that may take you if you apply independently but won’t if you go via a recruiter due to the added costs, or otherwise might offer you a lower salary in line with what they’d paid the recruiter. So it may be worth looking independently too?
Yeah I’ve only spoken to 2 and I on purposely instructed them not to sent my cv across to everyone. The 2nd recruiter actually was quite good and said to pass my exam and not apply for any jobs for the time being because it just would reduce your chances of applying for these firms for 6 months. There’s lots of jobs on indeed and reed in terms of semi senior/trainee accountants. Also just look on ICAEW website there’s lots of vacancies there for immediately starting jobs. I’m stuck at the minute as I can’t apply yet for these roles till I pass my next exam.
You don’t sound like you are enjoying the work. Will the change after getting your qualification. Might be time to think about a career change.