Practice vs. Industry; what’s making people move?

Posting date:13 May 2019

Over the past six months I have been following the career journeys of three established finance professionals, each starting in Practice and entering Industry at different stages of their lives.

While some argue it’s best to stay in Practice until you have tired the resources available to you, others are keen to explore the opportunities on offer as soon as they have qualified and I wanted to find out a little more about the market trends and what; if anything, is making newly qualified professionals jump into Industry.

The first thing that came as a huge shock to me was the sheer number of professionals seeking a new opportunity. 98% of people surveyed, currently within a Top 10 firm, are considering a move out of Practice. 

Out of those 98% of newly qualified professionals, the biggest determiner when researching new employers was the location. 84% of people surveyed said the location was the most important factor followed by 82% who said salary and 75% who said it was the reputation of the company that mattered most.

Interestingly, 83% said the least important factor was the social media presence belonging to that organisation.

Other factors cited as very important was the size of an organisation, their CSR policy and the flexible working policy in place but it’s clear the location and benefits package is pulling many professionals out of Practice.

To receive a copy of our white paper which includes organic research, exclusive interviews and opinions on the benefits and downfalls of Industry and Practice get in touch and, in the meantime join the conversation. What would make you move out of Practice?

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