T+O+M BLOG

FOTOM Jadie Petch talks to Keith Ryan about her career path after starting out in audit. In part four she concludes on why contracting is an underrated solution to figuring out the right career path.

After a career in audit there are hundreds of routes we can take to have a successful career in finance. The following are reasons why contracting is, in my view, a perfect solution to figure out what drives you and how you can land a role you love.

C O M P E N S A T I O N

An undeniable benefit of contracting is more desirable pay. Given the role is not permanent, there is a lack of perceived security and fewer employee entitlements contractors are generally paid a premium and often an hourly rate. So, you either end up working overtime which is not uncommon within finance (and taking home a nice big cheque) or you will be working 9-5 - so what is there to complain about?

F L E X I B I L I T Y

One of the most important benefits of contracting for me has always been flexibility. Having started my professional career at a relatively young age there was still so much I wanted to do and achieve outside of the workplace. In 2016 I relocated from London to Sydney and in one pivotal moment realised that I didn’t want to be sat on level 39 of an office block staring at one of the most beautiful landscapes I’d ever seen when I could be out there enjoying what Sydney, Australia and beyond has to offer. Since that day I have spent 4 months travelling Asia, 2 months working my way down Australia’s East Coast and back up through the West Coast, a month island hopping in Greece and a month travelling through the USA. I was also able to travel home for the birth of both my nieces and walk down the aisle with both my sister and several of my best friends because I negotiated the timing of my contracts to allow for that flexibility.

When interviewing for any contract role I was always honest about my intentions, and I think the employer always respects this. Given that you are ‘filling a gap’ the employer’s attitude is often different toward you than a permanent employee. I generally always felt appreciated when contracting and, in most instances, people are extremely thankful because you are providing support during a period of uncertainty and consequently willing to be more flexible.

O F F I C E   P O L I T I C S  (O R   L A C K  T H E R E O F)

Ask any professional and they will agree office politics are an element of work we wish we could all avoid. Working as a contractor you are not exposed to this. Your role exists within a controlled remit and people are generally very grateful for the additional support you are providing temporarily and therefore reluctant to expose you to political decisions.

C L O S I N G   R E M A R K S

My key takeaway would be to trust the process. I am not sure why there are not more people taking up contracting as the next step after their career in audit. Sometimes people are reluctant to embrace change. Maybe people aren’t educated enough on the concept of contracting. Perhaps it’s the lack of perceived security? Or the fact there is a negative stigma associated with ‘chopping and changing’ jobs. To be clear, in the world of contracting you are not quitting anything – the whole concept of contracting encapsulates change. You have an expert skillset; you perform a service for a company and when that service is complete you move on to the next contract. We see this all the time when it comes to legal and consultancy professionals so why should that perception be any different in finance?

Finally, hardworking people with the right attitude and ability can be hard to come by. As someone who takes pride in what I do and wants to learn, develop and continuously achieve more, I have never been out of work, and I have never had to settle for any role. That’s certainly not to say I haven't missed out on jobs, but there are always plenty of opportunities, and each time you go through the interview process, whether successful or not you learn more about what that next step looks like and put yourself in better stead to make sure you achieve this.

The most important aspect of contracting, in my view, is the multitude of opportunities it creates. One of our key values at Domain, where I am currently employed, is ‘open minds, open doors’ and I have found myself in several roles I potentially would have never considered if I had not been open minded to contracting. Likewise, fewer candidates and less commitment prompt employers to also be open minded and take a risk on someone when they see potential.  

 Let me take you back to my opening remark in part one of this series. 'I would be willing to give her a shot once she's had experience at the company or in a similar role'. These were words spoken by the FP&A Manager of an ASX 200 company when a qualified CA working as an Assistant Manager at KPMG applied for a Finance Analyst position on her team.

And now, guess who now has a senior management role in FP&A?

If you are looking to make your next career move, whether it be staying in audit or making a leap, please get in touch with one of our friendly Accounting & Finance team members.