I spoke with a placed candidate recently about their career journey. They began in External Audit and have spent nearly a year in a Commercial role. This transition is popular, so I thought it would be useful to share some insights on moving from CA to Commercial Accounting.
Moving from a CA (Chartered Accounting) firm to a Commercial (industry) accounting role is a significant career shift. Here are the pros and cons to consider:
Pros of Moving from CA to Commercial Accounting
✅ Better Work-Life Balance
Commercial roles tend to offer more predictable hours than public practice, especially during busy seasons. This shift allows for better work-life balance and less stress during peak times. Be aware though that some industries eg Tourism wil have peak times that will require flexibility. Businesses also experience extra wokload during month end and year end due to the need to meet reporting and processing deadlines. Reporting for Board meetings can also add to the workload.
✅ Less Compliance, More Strategy (Depending on the Role)
Some commercial roles focus more on management accounting, financial planning, forecasting, and business growth. However, depending on the company, you may still spend a significant amount of time on reporting and compliance tasks.
✅ Closer to Business Decision-Making (Depending on the Role)
In some cases, moving from CA to Commercial Accounting, once you have reached the level of CFO or Finance Manager can give you the opportunity to work closely with senior leaders and make and influence strategic decisions. In larger organisations, finance teams may have less involvement in decision-making.
✅ Higher Salaries – But Highly Competitive
Commercial roles typically offer the highest salaries. However, because many accountants from public practice aim to make the move, hiring managers can be very selective. That first step into the commercial sector can be a tough one to find and in some cases requires a sideways move or salary decrease. Some companies prefer candidates with industry experience, while others look for those from Big Four firms. Recent restructures have added to the competition, making it harder to secure roles.
Cons of Moving from CA to Commercial Accounting
❌ Less Variety in Work
In public practice, you work with multiple clients across industries. In commercial, your focus is usually on one company’s financials. The workload can feel repetitive, especially during monthly reporting cycles.
❌ Potential Career Ceiling
Most of New Zealand’s commercial industry consists of SMEs, with small finance teams. This limits career growth opportunities, unless you’re in a fast-growing company or a larger corporate.
❌ Limited Exposure to Technical Accounting
Moving from CA to Commercial Accounting may result in you having less exposure to the latest accounting standards, tax laws, or audit requirements. This could make it difficult to return to public practice later in your career.
❌ Limited Networking & External Exposure
In public practice, you build strong relationships with clients and industry contacts. In commercial roles, your network tends to be more internal, which could limit future opportunities.
❌ Harder to Return to Public Practice
If you ever decide to return to public practice, firms may view you as less technically current or less suited to their high-pressure client environment.
❌ Job Security Risks – Restructures & Redundancies
Commercial roles are often vulnerable to cost-cutting measures, restructures, and redundancies. The rise in recent restructures has made the job market more competitive, increasing the pressure on job security. You are reliant on the performance of one business rather than having a broad base of clients.
❌ Industry Specialisation Can Be Risky
Specialising in a particular industry can limit your options if that sector faces decline. For instance, industries like media are shrinking, and niche markets in New Zealand may not have many opportunities.
What About Public Practice? CA Firms Have Changed
If you’re not ready to leave public practice, many CA firms now offer a solution. By outsourcing their compliance work, these firms allow their teams to focus on more strategic areas:
- Business strategy
- True partnering with clients
- Improving multiple businesses across different industries
This option enables you to enjoy varied, strategic work without needing to switch to a commercial role. If you’re open to hearing about your career options and the market, get in touch with me today.
About Me
I am a Specialist Recruiter within the CA space which means I help Chartered Accountants / Certified Public Accountants and those studying toward their CA or CPA qualification.
My clients are Public Practice firms and Accounting firms and the roles/accounting jobs are within Business Advisory Services (BAS), External Audit, Tax, Corporate Finance, Risk Advisory, and Insolvency.
Here at Tyler Wren, we know good people know good people. We offer a referral bonus if you refer someone to Tyler Wren, with whom we secure a new role. Click here to find out more and to refer a friend.
Find out more about Tyler Wren’s
- NZ Public Practice Recruitment here
- Australia Public Practice Recruitment here
- Our latest Salary & Benefits Guide which has just been released in June 2024 here
Read some of our most recent Accounting articles here:
- Job Search – A Specialist Recruiters Guide Of When to Start Your Search
- Big Decisions: Changing Jobs or Switching to an EV—What They Have in Common
- Generational Communication Preferences in Recruitment
- Generation Beta: Shaping the Future Job Market in Aotearoa
#TylerWrenAccounting #TylerWrenPublicPractice #TylerWren #TylerWrenCareers
Follow us: LinkedIn Facebook Instagram