What they really think

Partner
Ritson Smith
Aberdeen

Stage: Qualified CA
Trained with: Ritson Smith
Degree: BA Business Studies

“Sadly, from the age of 14 I knew I wanted to become an accountant. I liked the idea of working in a profession where you meet different people everyday, and you’re not just stuck in the same industry or business environment day in day out. The reason I chose to train as a CA was that in my opinion it’s the top qualification, so the decision was quite easy. To be honest I didn’t even look at the other options.

“I would say if you want to go down the CA route, you’ve got to be pretty sure that’s what you want to do. There’s a big commitment required to achieve the qualification, to get the commercial knowledge you’ll need, and satisfy your employer who’s paying your wages, because at the end of the day you need to give them something back as well. It really has to be something that you’re certain you want to do.

“I made the decision that I wanted to do my training in a smaller firm for a number of reasons. I felt that the work environment would be more personal, and you’d be treated as more of an individual. I also liked the idea of being more visible, and perhaps gaining recognition for your own performance more easily. However, you’ve also got to realise that in training with a small/medium sized firm, the salary package is probably not going to be as good as it may be in industry, or with the bigger firms, so you’ve got to be certain that you’re not just doing it for short term benefit. In my opinion, you do it for a better grounding, more hands on training, and knowledge of what is involved in doing basic accounting rather than just doing, say, pure audit. That’s why I think some of the people who have left here have gone on to do well in larger organisations, because they’ve got the basics here first. A firm like ourselves has international associations, so there are also career opportunities, and placements with other associate firms around the world. One of our recently qualified students has decided to go off to work in Bermuda for the next two years.

“As far as career progression is concerned, I think it very much comes down to the individual as much as anything else. I know lots of CAs that I qualified with, and some of them have done very well, whilst others have levelled out. It does come down to your personal goals and aspirations, and what you want to achieve in your job. It’s about whether you feel you’ve got to where you want to go, or whether you want to keep going up that ladder, and you’re prepared to put the effort in to get there. Some people think that once they’ve done their exams and studying that’s it – they’re happy with the amount they are earning and don’t necessarily want to progress as quickly as others might.

“I shouldn’t say this as my fellow partners might read this, but another advantage of a smaller firm is probably the hours you’re expected to work. As I’ve said, the financial rewards are not as great as in a large firm, but that’s balanced by less of an expectation to put in a lot of extra hours, out with the fixed nine to five. However, I’d also emphasise that it comes down to the individual as to how much are you prepared to connect with your employer, and how much extra commitment you want to give, because your approach to your work will be noticed. Senior staff will be aware of those who put in the extra hours, and those who do, will gain recognition for their commitment. I certainly wouldn’t have had the same opportunities if I hadn’t put the hours in."

“The variety of work I’ve had has also been considerable. I had a period in my CA training where I was seconded to tax, audit, accounts prep and management accounts. The advantage is that when you're doing work in other sectors you can appreciate what your colleagues do so you can see the whole picture rather than just one particular sector or area. A small firm can offer that variety as it’s very easy to move one person around when you’re at an early stage in your training. It’s more difficult when you become more senior but as a student it ensures you get a more rounded training. “Like most firms of our size, Ritson Smith has a very broad range of clients. I’ve been to almost every type of business you can imagine, and it’s not all glamorous. I’ve been out to what can only be described as rather ‘fragrant’ fish stores, building sites in the middle of winter, and have been welly-deep in mud and other less pleasant substances on various farms around Aberdeenshire. We’ve got the full spectrum of client base - okay it might not be your big listed companies, but generally you find that with small/medium sized entities the people who own the business effectively run it as well. You build up a really close client relationship with them. It’s really satisfying to see businesses succeed and when times are hard they need your help just as much, if not more so.

“There are definitely good opportunities for career progression within smaller firms. After training and qualifying with Ritson Smith I was promoted to manager within three years. In 2000 I became the senior manager within our audit and accounts department and got the opportunity to become a partner in 2002. I’m now concentrating on building my own client base, whilst continuing to offer a high quality of service to our existing clients, because it’s at the core of the service sector we’re in. Clients are becoming more demanding on top of ever increasing regulation, which is a challenge for the firm and our profession as a whole. Over the last few years, we’ve been developing the firm in areas such as tax consultancy and corporate finance so even now as I progress through my career I seem to have more variety in what I do day-to-day. And I’m pleased to say I still enjoy it."