Finding Your Next Career Opportunity 

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Finding Your Next Career Opportunity

How to make the most of today’s favourable employment conditions.

FROM: JAN-FEB 2008 ISSUE | BY MINDY ABRAMOWITZ

The news for CGAs and students entering the employment market is good. Thanks to the shortage of skilled personnel and the valuable competencies they bring to the workplace, accounting professionals are sought after in every industry and at every level.

Employment Trends

A recent survey conducted by David Aplin Recruiting, where 1,000 firms were interviewed, 68 per cent of respondents indicated that they intend to increase staff in the current year. Barry Milne, CGA, and senior consultant at the recruiting firm, ranked the employment market in Alberta first in terms of growth. “It’s great for candidates,” he says with enthusiasm. Employment trends are so favourable for accounting professionals that he sees increased compensation, more opportunities, and retention prizes for the applicants he places in medium and large firms. Milne says the hottest employment markets are Edmonton, Calgary, Vancouver, and the greater Toronto area.

Milne cites turnover rates of up to 20 per cent as an important incentive for employers to find ways to keep their employees challenged and committed. Employees surveyed by David Aplin Recruiting listed what they consider indispensable to their job satisfaction: recognition of excellence, opportunities for growth, and a sense that they make a difference. Surprisingly, compensation ranked fourth after these other factors.

Employers are addressing the scarcity of suitable staff with flexibility and creative scheduling. Retired employees are returning to work part-time, job-sharing positions are increasingly common, and recruitment firms are working with the association to recognize the credentials of accounting professionals new to Canada to fast track their entry into the employment market.

Make a Plan

Milne stresses the importance of documenting and updating your career plan. He suggests you think about what you hope to achieve in your current position and in the ones that follow and ask yourself the key questions that will help you to map your path. What job do you want to do? What size company would be ideal to you? What industry interests you the most? Also consider compensation and work culture.

The next step is to identify the experience and skills you will require to reach your goals. A recruiter can give you some guidance on what to develop next and how to acquire the necessary experience – through your current employment, by enrolling in relevant professional development programs, or through volunteer work – and help you establish career milestones along the way to your dream job. Your recruiter can help you fine-tune your resume to highlight your achievements.

Choose a Path

After working out a detailed career plan, most candidates find more than one viable course open to them. “There are usually two or three paths for them,” Milne says, “especially the more recent graduates with up to five years’ experience.”

Junior or Entry Level

Students can take their pick of positions in the following types of roles:

• Accounting clerks
• Analysts
• Junior auditors
• Data entry personnel

According to Milne, analysts in particular are in short supply and high demand. These accountants can expect to earn $30,000 to $40,000.

Mid-level

Students in the final stages of the CGA program and recent graduates usually fit into the mid-level and will find themselves supervising a small team as:

• Analysts
• Accounting managers
• Assistant controllers
• Accounting supervisors
• Internal or external auditors

The salary range for these types of positions is $45,000 to $70,000.

Senior Level

CGAs with a few years of experience lead departments and manage organizations, assuming the roles of controller or manager of operations, financial reporting, tax, and internal or external audit. Typical salaries vary between $75,000 and $100,000.

Management or Executive Level

CGAs who possess considerable and diverse work experience occupy the top levels of the profession. These are accountants who oversee entire organizations. Their titles might include:

• Vice president of finance
• Chief financial officer
• Chief operating officer
• Director of finance
• Executive vice president
• Partner
• General manager
• Business owner

At this level, most have realized many of their career goals and are earning over $100,000.

“These are the real carrots that CGAs are striving for,” says Milne, “and we’re very active in this area.” He adds that there has never been a better time for accountants to fast-track into senior management, given the large number of baby boomers expected to retire in the next decade. “It is a great time to be a CGA looking for that next career opportunity.”

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