Is It Time for a Career Move? A Guide for Accounting Professionals
In today's accounting industry, staying with the same firm for your entire career doesn’t always guarantee long-term success. Even if your current employer is stable, remaining in the same role could limit your growth, earning potential, and career satisfaction.
With ongoing skill shortages, accounting professionals have more choices than ever when it comes to their career paths. Moving to a new firm could provide access to better workplace culture, increased flexibility, and enhanced professional development opportunities.
Additionally, switching firms can significantly impact your earning potential. Research suggests that while staying with the same employer may result in a modest salary increase, moving to a new organisation could offer raises of 9% or more. However, making a career move should be a strategic decision rather than a reactive one.
In this article, we’ll guide you through the key factors to consider before making a transition in your accounting career and help you assess whether now is the right time to explore new opportunities.
Market Analysis: The Accounting Job Market in 2025
If you’re considering a move in 2025, the outlook for accounting professionals is promising. The job market is currently candidate-driven, particularly in accounting firms looking to attract top talent. Employers are investing in specialists who can navigate technological advancements, regulatory changes, and evolving client expectations.
Accounting practices are increasingly seeking professionals skilled in advisory services, strong technical compliance skills and the ability to lead a team and develop strong relationships with clients. Additionally, firms are competing to retain top talent by offering improved salary packages, flexible work arrangements, and clearer career progression paths.
However, while demand is strong, firms are also becoming more selective. Many employers are prioritising candidates with CA/CPA professional qualifications and technical skills that can deliver immediate value to their client base. This means that ongoing learning and development will be critical to staying competitive in the job market.
Is It Time for a Career Move? Making the Right Choice
Deciding whether to stay with your current firm or explore new opportunities is a major career step. It’s important to assess not only financial incentives but also your career goals, the accounting job market, and your long-term aspirations.
Here are three key steps to help you make an informed decision:
Step 1: Assessing Your Current Situation
Start by evaluating your satisfaction with your current role and employer:
Are you aligned with the firm's values and mission?
Do you feel your work has purpose, and are you engaged in your role?
Is your firm supporting your career development and offering progression opportunities?
Does your firm have a structured succession planning strategy that aligns with your long-term goals?
Are you being compensated fairly for your skills and contributions? If unsure, conduct salary benchmarking to compare your earnings to market rates.
Additionally, consider whether your skills are being utilised effectively. If you have expertise in areas like tax advisory, corporate finance or CFO advisory but aren’t using them fully, a move could help you realise your potential.
Step 2: Identifying Your Priorities
Understanding your career priorities will help determine whether a move makes sense. Consider:
Salary & Benefits: Are you being paid competitively? If your firm isn’t willing to negotiate a salary increase despite strong market demand, it may be time to look elsewhere.
Professional Development: Are there opportunities for upskilling, mentorship, or training in your current role? Many firms now offer CPD programs, but if yours doesn’t, a move may help you stay ahead.
Work-Life Balance: Would you benefit from a more flexible work environment, such as hybrid or remote work options?
Technology & Innovation: Does your firm invest in modern accounting software and automation tools, or are you working with outdated systems?
Firm Culture & Values: Are you satisfied with the leadership, management style, and overall work environment? If your firm lacks a positive culture, another company may provide a better fit.
Step 3: Examining the Potential for Change
Before making a move, consider the broader job market and your financial security:
Job Market Trends: Is your sector growing, or are firms cutting back on hiring? If many firms are expanding their advisory services, for example, specialists in this area may find more opportunities.
Stability of Your Current Role: If your firm is undergoing restructuring or losing key clients, it may be time to explore alternatives before stability becomes an issue.
Your Skills & Marketability: Conduct a skills gap analysis to determine whether you need additional qualifications, such as a CPA or CA certification, before making a move.
Preparing for a Career Move in Accounting
If you’ve decided it’s time for a change, a structured action plan will help you transition successfully. Here’s how to ensure you’re prepared:
Conduct a Skills Gap Analysis
Identify key skills in demand within accounting practices by reviewing job descriptions and industry reports. Consider enrolling in CPD courses or gaining additional certifications in high-demand areas like tax advisory.
Leverage Your Professional Network
Your network can be a valuable resource for job referrals and industry insights. Engage with professional associations such as CPA Australia, CA ANZ, or networking events. Connect with recruiters who specialise in accounting placements to gain insights into the best opportunities available.
Update Your Resume & LinkedIn Profile
Ensure your resume highlights your most relevant skills, experience, and achievements. Tailor it to emphasise the value you bring to potential employers. Updating your LinkedIn profile can also help attract the attention of accounting recruiters and hiring managers.
Develop an Application & Interview Strategy
Rather than applying to every available role, focus on firms that align with your career aspirations. Customise each application and cover letter to reflect the firm’s values and expectations. Additionally, refine your interview skills by preparing answers to common accounting-specific questions and case studies.
Be Ready to Negotiate
When you receive a job offer, research industry salary benchmarks to ensure you’re getting a fair deal. Consider the full compensation package, including bonuses, professional development funding, and flexible work arrangements.
Final Thoughts: Is Now the Right Time for a Change?
Making a career move in accounting is a significant decision, but it can also be an opportunity to enhance your professional growth, increase your earning potential, and improve your job satisfaction.
By carefully assessing your current situation, understanding the job market, and strategically planning your transition, you can position yourself for long-term success. If you’re considering a move, working with a specialist accounting recruiter can help you navigate the job market and find opportunities that align with your goals.
Are you ready to explore new career opportunities in accounting? Book a complimentary career discovery call here.