Recently Qualified ACA – What’s Next?
If you’ve recently qualified through the ACA program and are looking to move into industry, you’re likely asking yourself:
• What types of job functions are open to me?
• What do they entail?
• How competitive are the roles to move into?
Broadly speaking, the moves you can make tend to fall into three categories:
• Corporate Finance / Investment Analytics
• Commercial Finance
• Reporting & Control
Corporate Finance / Investment Analytics
This area often includes roles such as Investment Analyst, Corporate Finance Analyst, Equity Research Analyst, or Portfolio Management Analyst. These are typically the most sought-after positions by those leaving audit, but also the most competitive.
Before moving into industry, many people apply to internal opportunities, either exclusively or alongside an external search. Internal teams in M&A, Corporate Finance, or Financial Modelling / Due Diligence can offer a valuable stepping stone into this space. Internal transfers are often the best route when pivoting your career away from accounting, though they can be highly competitive, usually with just one opening per 100–150 applicants.
Similarly, moving directly into these roles externally is equally challenging, particularly without the benefit of having an internal team familiar with your performance during your time in audit. Many target boutique advisory firms within sectors they’ve audited, using these as stepping stones into broader industry roles later on. Others manage to secure roles directly in industry by consistently networking through peers, recruiters, and personal contacts, although success often comes down to a combination of luck, timing, and market conditions.
You can find more information on the types of responsibilities involved (here).
Commercial Finance
Commercial Finance is another popular route and typically includes roles such as FP&A Analyst, Finance Business Partner, or Fund Finance / Fund Accounting. This is where a significant number of recently qualified ACAs start their careers in industry. These roles often combine forward-looking finance responsibilities (such as budgeting, forecasting, and partnering with front-office teams) with elements of financial review and accounting. For many, this provides a natural next step—offering exposure to business strategy while leveraging the core accounting skills developed during ACA training.
While still competitive, this route often strikes the right balance for those who want to be involved in decision-making without making too sharp a career pivot.
You can find more information on the types of responsibilities involved (here).
Reporting / Control
Reporting and control-focused roles typically include titles such as Financial Accountant, Management Accountant, and Group Accountant.
These roles are primarily focused on accounting, journal entries, and external financial reporting, sometimes with elements of budgeting and forecasting. This path tends to be the most closely aligned with audit experience and is often the quickest transition into industry. However, it may not always match an individuals’ ambitions to move into more strategic or commercial finance roles when leaving audit.
That said, those interested in financial reporting often find the transition out of practice easier and enjoy a wider range of opportunities. Many also treat this type of role as a short-term step—staying for a year or two before moving internally or externally into commercial finance. Counterintuitively, this path can sometimes lead to commercial finance roles faster than peers who remain in practice longer while trying to secure such roles directly.
You can find more information on the responsibilities involved in these roles (here).
Final Thoughts
While we’ve outlined distinct job functions above, it’s worth noting that responsibilities often overlap, especially in leaner finance teams where commercial and control duties are shared.
These categories are listed in rough order of competitiveness when transitioning directly from practice, but your first move into industry does not define your entire career. Many professionals pivot across remits over time. Likewise, this order does not imply relative value, enjoyment, or fulfilment, factors like team culture, management, personality fit, and company values play an equally important role in job satisfaction.
If you’d like to explore your options after qualifying, feel free to reach out for a conversation thomas.ives@hedgerway.com
