The last few months have been nothing short of unbelievable as we have helplessly watched the decline of the world's Financial Services markets unfold before our very eyes. Continued speculation, company takeovers and the onset of recession only add to the negative overview but for those of you who are considering career opportunities and progression, do not despair. Despite recent events it is not all 'doom and gloom', and somewhat ironically, these harder economic times often bring greater opportunities and challenges. The volume of roles available has undeniably decreased but the quality remains, and types of positions are extremely varied with some valuable skills and relatively unique experience on offer. This could mean that a fantastic role is currently available for you.
Having worked and studied hard over the preceding years it is undoubtedly a concerning time for those who are about to or have recently qualified as accountants. It could be said that the UK has not experienced anything quite like our current situation ever before and as a result predictability and any signs of recovery still seem some way off. However, we believe that it is important to remember and focus on the fact that it will most likely be those in finance that help revive company fortunes,identifying efficiencies and ultimately aid recovery. This means that accountants and finance staff are a hugely important and valuable resource to any business. Whether it be dealing with increased reporting requirements, implementing cost reductions or providing financial input into important business decisions in terms of products, strategy or transactions there is still, and always will be, a demand for dynamic qualified accountants.
Working as a contractor can be rewarding both financially and in terms of overall job satisfaction. Many finance professionals choose this route because they enjoy the variety that comes with working for different organisations, meeting a wide range of people and continuously developing their skill set. Contracting may also suit individuals who require breaks in their careers, for example to travel overseas.
In recent years the labour market has become far more flexible. Given the current economic climate, individuals who may not have thought about contracting previously will increase their available job options by considering this method of working in a tighter job market.With potential increasing redundancies, more individuals may be in a position to consider flexible working opportunities. In the current environment, some finance teams do not have the required approval to hire permanent staff but are able to offer contract opportunities in areas where there may not necessarily have previously been roles. The benefit to both parties is that there is an element of 'try before you buy' when contracting and many contract opportunities eventually turn into permanent positions.
More experienced 'career contractors' with turnaround experience are also in higher demand in the current market, particularly those who have experience of working in distressed businesses.
If you wish to contract, it is important to have control of your administration. For example, you will need someone to do all your paperwork, fill out forms, talk to the relevant authorities (HMRC) and ensure you're paid as quickly as the process will allow. Also, in order to work legitimately you must be employed by a limited company that is registered for PAYE with HM Revenue and Customs. Many contractors choose to register with an 'employment management company', also known as an 'umbrella company'.
The government has introduced new legislation over the past few years to ensure that freelance contractors are paying their share of tax and national insurance. This has affected contractors and has limited the ways in which you can work as a freelance contractor.
If you've chosen a compliant umbrella company to work for, this shouldn't be a problem. Consult with the umbrella company provider and take further legal advice if necessary. Also visit www.umbrellasupermarket.com, a website ranking the hundreds of companies on the market, compiled by thousands of contractors surveyed across the UK.
Wilkinson and Associates would like to thank everyone who took part in our prize draw.
We are delighted to announce that the winner of the luxury overnight stay at Tigerlily, Edinburgh, including dinner, bed and breakfast and £200 spending money is Leon Young. Leon is a CA qualified accountant who currently works for HBoS Corporate Finance & Planning. We hope Leon enjoys his luxury stay!
Please continue to explore our website regularly as we continually update our featured job opportunities(this is not an exhaustive list) as well as offering help & advice to jobseekersand employers.
Many businesses needing extra staff use contractors successfully, for flexibility or for resources on one-off projects or jobs requiring specialist expertise or turnaround. Contractors can also be used either to allow permanent staff to concentrate on the core business or to enable them to be seconded onto project work.
Contractors can generally be called in at short notice at times where there is an urgent requirement for additional resource.
Wilkinson & Associates registers interim staff at all levels, from newly qualified to executive level. At the newly qualified level, candidates are more often than not travellers from overseas who hold UK-accepted qualifications, such as Australian, New Zealand and South African Chartered Accountants. These contractors are generally only in the UK for a fixed period of time, or may be looking for a contract to permanent option once they have found their feet in the marketplace here. Senior contractors very often provide specialist expertise and are a desirable option where there is requirement for the individual to be able to hit the ground running.
Wilkinson & Associates are flexible and are able to assist with interim requirements on a fixed term contract (on your company payroll) or hourly/daily rate basis (supplied through Wilkinson & Associates and therefore not an employee of your company).
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Aspirations and opportunities for newly qualified accountants have changed dramatically over the past decade and this has had quite an effect on both supply and demand.
Many newly qualified accountants really enjoy the technical side of finance and accounting and want to continue to use these core skills and experience in more traditional accountancy based positions. Often they will look to utilise their qualification to help them develop (either internally or externally) and gain exposure to new aspects of finance.
Read more about Newly Qualified Accountants...
Wilkinson and Associates would like to thank everyone who took part in our prize draw.
We are delighted to announce that the winner of the £500 shopping spree at Harvey Nichols is Angela Petrie. Angela is an Assistant HR Business Partner who works for a client of Wilkinson & Associates. We wish Angela a happy day's shopping!
Please continue to explore our website regularly as we continually update our featured job opportunities(this is not an exhaustive list) as well as offering help & advice to jobseekers and employers
When people look to changing jobs a question we're often asked is, "how easy it to move into a new sector?". This particularly holds true for accountants looking to move into financial services for the first time (particularly in cities such as Edinburgh and London where the FS sector enjoys a high presence). Traditionally, many employers have looked for like-for-like industry experience as an essential pre-requisite when hiring. However, we have found that this attitude has changed markedly over the past 10 years or so, as the marketplace has become far more flexible and open-minded.There is also a great willingness to look at the benefits that individuals can bring from the previous industries/sectors they worked in.
These days, most employers appreciate that accountants will possess skills that are eminently transferable across industry sectors. They will look at a person's technical and interpersonal strengths rather than selecting on the basis of an in-depth appreciation of their own sector and accept that a talented accountant in the retail or manufacturing sectors will usually prove an equally good performer within the banking sector.
Of course there are the few odd exceptions to this. For example, with specialist roles such as fund accounting it would be a huge advantage to have had previous knowledge of the investment management industry.
Interestingly for those accountants looking for analytical roles, particularly those facing off to the wider business and not just the financial community, a lack of specific sector experience might prove to be a plus rather than act as a barrier to entry. You will join your new employers with no pre-conceived ideas about the sector.In order to get to grips with the business and sector quickly, you will have to ask the basic ("silly") questions to improve your understanding of the business. employers like people who can challenge the status quo in a positive way as it forces them to examine their own practices and learn about other industries' approaches. In our own experience, the overwhelming majority of those people joining the big financial players in analytical roles come from out-with the financial services sector.
The ability to maintain a flexible attitude and consider other sectors will only help you to maximise the opportunities available.The need to be flexible is extremely relevant given recent market conditions. The recent downturn in business confidence has led to some firms putting recruitment plans "on hold". However, on a more positive note and despite the many gloomy forecasts, we have found that most firms are still hiring. Opportunities will always exist for good accountants.
Wilkinson and Associates would like to thank everyone who took part in our prize draw.
We are delighted to announce that the winner of the day for two at Martin Wishart's Cook School is Susan Warren. Susan is a qualified accountant who currently works for Scottish Widows. We wish Susan a happy day's cooking!
Please continue to explore our website regularly as we continually update our featured job opportunities(this is not an exhaustive list) as well as offering help & advice to jobseekers and employers.
When Scottish & Newcastle announced that it had accepted a £7.8 million bid by Carlsberg and Heineken, it marked an end of an era not just for Edinburgh but for British brewing.
Scottish & Newcastle has a prominent place in the history of Edinburgh and can trace its roots back to 1749 when the William Younger brewery was established in Leith, Edinburgh.The once regular smell of hops across the city helped Edinburgh earn its nickname "Auld Reekie". In recent years it is with pride that Edinburgh has seen Scottish & Newcastle grow in to a multi-national company employing over 3,000 staff in the UK alone.
Over 1,000 of these people work for Scottish & Newcastle's corporate headquarters in Edinburgh and there will undoubtedly be some concerns about potential job losses.However, the Scottish & Newcastle name is synonymous with excellence and hopefully the new European owners will acknowledge the value this connection adds to the brand.
For any individual the threat of redundancy can be very unsettling. However, change can often bring opportunity. For those accountants wishing to consider other options, the good news is that the local market is very buoyant. It is important to consider your alternatives carefully and speak to a specialist who understands your needs and aspirations.
If you would like to have a private consultation with one of our consultants regarding current job opportunities please contact us or submit your CV
Wilkinson and Associates would like to thank everyone who took part in our prize draw. We had a fantastic response.
We invite all of our clients to regularly visit our website as we will be featuring some of our current job opportunities as well as offering help & advice to jobseekers and employers.
We are delighted to announce that the winner of the weekend for two at The Old Course Hotel, St Andrews is Krysia Dremza. Click Here to see what Krysia had to say about winning.
We are delighted to announce that we have changed our name from Wilkinson & Corr Limited to Wilkinson & Associates Limited and would like to take this opportunity to wish you a very Happy Christmas!
We would like to thank our clients for helping us to achieve our goals. We appreciate that our success is due entirely to their ongoing support. Read more
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