How do Newly Qualified Accountants become Managers?
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You have just completed your training contract and now a Newly Qualified Accountant – so what’s next?
If your sights are set on landing a role as a Manager – do you have what it takes?
Have you thought about next the stage of your career post qualification?
How do you plot your route to making manager?
It is not necessarily a matter of completing your qualification, going through the motions and then arriving at a time when you can make that move up to the next rung of the career ladder. It is much more than that.
Here is a guide to help you prepare for your journey to becoming a manager in private practice.
Technical Skills
You must have an excellent technical skill set to stand a chance to be in the running to make Manager as you will be responsible for projects that require a number of skills.
The ability to help in any area of work is essential. Building experience in all of the technical areas and being able to contribute when called upon is a must.
Being able to identify errors and feedback to a team is at the heart of a Manager’s role – how can someone expect to do this without having the skills and experience?
Beginning to gain exposure as a newly qualified accountant outside of your service area will certainly be time well spent.
Interpersonal Skills
Managers are leaders and the catalyst for strong leadership is communication; a good grasp of both written and spoken communication skills are paramount.
You need to be able to communicate with people at all levels of seniority. Managers go from delivering clear instructions to their team one minute to reporting to Partners the next.
As well as being the primary client contact, you will also be involved in conversations with Partners, CFO’s and FD’s.
A great way to master communication is to learn from colleagues in senior positions. Remember they have trod a similar path and have encountered the same challenges.
It is a good idea to take note of how a Partner acts and how they conduct themselves in front of staff and clients alike.
When you get the chance to pick a Partner’s brains make sure you seize the opportunity. Consider asking them for useful advice such as:
- How to deal with clients when problems arise?
- How do they approach potential clients?
- How they have built their network of contacts?
Volunteering to help Managers allows you to gain vital exposure, experience and, most importantly, respect from those above you.
Showing interest in taking on extra responsibilities allows you to get a first-hand flavour of what life is like as you progress further.
Business Development
As well as being the main client contact, Managers are also expected to win business in today’s market.
To an NQA this will probably be totally alien but it is a fundamental part of a Manager’s role to develop new business.
A quality network of contacts that you build relationships with is at the core of business development. It is best to start sooner rather than later as it is the investment of time that provides you with results.
Go along to events with senior individual’s in your firm, they will be able to show you how they have built their network. This gives you a starting point to get to know people as well as allowing individuals to get to know you and your firm.
Looking out for networking events where potential clients may go to is an ideal starting point. This could be a case of early morning breakfast meetings or events after work but it is this investment of time that pays dividends in years to come.
Again, communication is a vital part to business development – not just spoken communication but the ability to listen also.
When attending events remember you are representing your firm and an extension of the brand. So not only is it vital that you are able to communicate with a view to build contacts but also to make sure that you are building the brand profile.
There are two things to remember:
- It is not just about doing the work when you reach manager – you have to develop business too.
- It takes years of hard work - invest your time now.
In the end, there isn’t an exact science to being earmarked as management material. However, there are a number of activities that you can do to increase your chances of being considered for management positions. As long as you think long-term and display the characteristics discussed, you can give yourself every chance of becoming manager and enhancing your career.