Why tech is the best option for ambitious ACA qualifiers
In a booming job market, ACA-qualified accountants are in higher demand than ever. Having put no small amount of effort into qualifying, you can now reap the benefits and begin the next stage of your career. But with so many options, the choice of what to do next can be almost overwhelming. So we’ve outlined exactly why tech represents the most exciting industry for newly qualified ACA graduates today.
More so than any other industry in the UK, the outlook for tech is bright, having grown tenfold in the last ten years. Industry vacancies are at their highest since 2016, and now account for 12% of all open positions in the UK, according to the Digital Economic Council.
Software engineers aside, nowhere is this hiring need more keenly felt than in finance. Many tech companies are now seeking to mature after rapidly scaling up, and increasing the sophistication and capacity of their finance function is a key part of this process.
Financial Planning and Analysis roles are often some of the most sought-after for newly qualified accountants, but the growth of the tech industry is making these positions more attainable than ever before.
As anyone familiar with the industry will know, its explosive growth has not been driven solely by innovation or shifts in demand like those created by coronavirus. A key reason for this has been the enormous amount of capital that has flowed into tech – UK tech companies have already attracted over £15bn in investment in 2021.
This is excellent news for those seeking a finance position in the tech industry – companies who have raised funding are invariably required to invest in their finance function, in order to give investors the best possible picture of the current state of the business and its trajectory.
Worldwide, there aren’t many places better than London to work in tech. Now boasting 96 ‘unicorns’, collectively worth £333bn, the British tech industry has emerged as Europe’s undisputed leader.
Last year, it attracted as much VC investment as France and Germany combined. The UK now stands only behind the US and China in the amount of investment capital it receives. As the industry’s success continues to snowball, it will only become a more appealing career path.
Flexible work options
For many, one of the biggest advantages of switching from accounting practice to tech is the comparative flexibility. Much of the accounting world is attempting to shed its traditional, slightly stuffy image, but there’s no denying that it still can’t compete with the tech industry in this regard.
Flexible working options are far more common – tech companies are at the forefront of the evolution of work here. Flex-time, work from home and even fully remote working are all frequently found.
Pioneered by firms such as Google and Facebook, tech has long been renowned for its informal and dynamic workplace cultures. UK tech companies are no different. If you found accounting too formal and restrictive, tech is the way to go. As well as typically boasting a young workforce, tech companies spend heavily on perks and benefits for employees.
Striking it rich...
The tech industry is well-known for paying generous salaries to its employees. But the financial potential of working at a tech company hardly ends there. Start ups, particularly, often offer employees equity, raising the possibility that you will net a large sum of money when the company is sold or goes public. Of course, this is far from guaranteed – many start-ups fail before ever reaching this stage. But for those that do make it, employees are typically in line to make vast sums of money.
Camino Search works with some of the highest-calibre and fastest growing companies in the industry. To take the first step towards your career in tech, or just to find out what the market looks like, get in contact today: