Joining a graduate scheme is a great way to begin your accountancy career. Here's how to secure a place on a programme and what to expect once you start
Joining a graduate scheme is a great way to begin your accountancy career – the start of a journey that will offer endless experiences with a professional services firm.
To apply for a scheme, a student must have work experience although technical skills are not usually expected at this stage. Applicants with a range of skills and attributes, including commercial awareness, and planning and relationship building, are also welcome as these can be successfully transferred to a graduate scheme.
The key to gaining this experience is to think about it during the early years of your university career, using your vacations productively and being open to different learning experiences. There are a variety of ways to develop these skills, from part-time work during studies, such as working in a shop, volunteering and charity work, or doing a work placement during holidays. If you have identified accounting as your chosen career in advance, applying for a placement in your first or second year is a good idea as this gives you as much experience as possible.
The application process for accounting graduate schemes can be lengthy and competitive. For example, at Deloite the successful graduate will need to complete an online test and face-to-face interview, as well as assessment centres. But remember that your degree studies are ideal preparation for the workplace. The self-discipline required for study, an enthusiasm to learn, problem-solving skills, giving presentations, group work, written and verbal communication and analytical skills are all used to a greater or lesser extent while studying for a degree. All of these skills are transferable and will be used from the very beginning of a career with any professional services firm.
One of our new graduates summed up this comparison very well recently, saying: "I studied English at university and was worried that I had minimal experience in a commercial environment ... after a month it dawned on me that Deloitte provides all the technical training we require for the job, I just need to apply the skills I learnt at university within this environment."
If successful it can be helpful for new recruits to talk to those already working in the firm. Some companies do this formally, for example, graduates are assigned a 'buddy' who works at Deloitte. The buddy is able to answer any questions the graduate did not want, or may have forgotten, to ask during the interview stages. It's important for new recruits to feel comfortable by the time they reach their first day so they are able to hit the ground running. The buddy also guides our graduates through any preparation work they should be aware of before they join the firm so keep your eye out for this too.
Accountancy graduate schemes are stepping stones between university and employment and every day will be different. The first few years with the firm will still involve a lot of studying in between working on client projects. These can range from working with a FTSE-listed company to a family business or a public sector organisation. The length of study will depend on which part of the firm you join – such as tax, audit, corporate finance, consulting or technology.
When in the office, graduates can expect to spend their time researching, attending industry events and seminars and doing preparatory work for clients. There are also plenty of opportunities to work on site with the client. Graduates can gain experience pitching for work, taking a brief from clients, interviewing staff for further information or presenting our recommendations.
Although the responsibility may seem a little daunting, the opportunities to begin and develop your career in the finance sector is vast and, on established schemes, there is plenty of support to help you on your way.
Rob Fryer is the graduate recruitment manager at Deloitte
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