There is no ‘one-size fits all’ answer as to when you should make a career move.
Career planning involves so much more than just plotting out a timeline of job titles. It's about recognising your own aspirations and goals on both a personal and professional level, assessing your current situation and identifying the right time to make a strategic move. Whether you're just starting out, mid-career, or contemplating a career change, understanding when to move around is crucial to long-term success and satisfaction in your career.
Setting Career Goals and Milestones
Career goals should be the foundation of your professional journey. It's important to establish both short-term and long-term objectives that are aligned with your personal and professional aspirations, and the demands of the industry.
Identify Your Priorities and Aspirations:
Whether it's aiming for a senior position, becoming a Technical Expert in a niche area, or transitioning into an entirely new field, think about where you see yourself in the next 5-15 years. Consider priorities like work-life balance, financial goals, job titles, learning opportunities, companies and the type of impact you want to have, to guide your decision-making process.
Set SMART Goals:
Ensure your goals are Specific, Measurable, Achievable, Relevant, and Time-bound. For instance, if your goal is to become a Private Client Tax Partner, you might aim to achieve it within 10 years by completing the CTA qualification, gaining specific experience within Trusts, and building a network of industry contacts.
Establish Career Milestones:
Focus on technical skills development, such as obtaining certifications like ATT, ACA or STEP, while also honing leadership and management abilities through experiences such as leading teams or major projects. Aim to build and maintain a strong professional network by attending industry events, joining a professional association, or sharing expertise via articles.
Commercial vs. Technical Expertise: Choosing Your Path
Audit and Tax professionals often face the choice between developing technical expertise or transitioning into roles with a commercial focus. Both paths offer rewarding opportunities, but require different skill sets and mindsets. Which route would you find more enjoyable? Speaking to a specialist consultant will assist you in working out any skills gaps for development.
Becoming a Technical Expert:
This path suits those who thrive on mastering complex regulations and technical challenges, such as Inheritance Tax Planning or Audit Methodology, by continuously learning, paying close attention to detail and staying updated with industry changes. Successful technical experts, often in roles like Tax Consultant or Technical Audit Director, may advance to positions in advisory services, technical research, or education.
Moving into a Commercial Role:
If you enjoy strategic decision-making and influencing business outcomes, a commercial role that bridges the gap with teams, clients and partnerships may be ideal. This path requires strong business acumen, development skills, and the ability to communicate complex information, along with networking, leadership, and project management abilities. Roles like Tax Specialist or Audit Engagement Director can lead to entrepreneurial opportunities and career growth.
Is It Time for a Change?
Deciding when to make a move, whether it's seeking a promotion, changing your focus, or even switching industries, requires reflection and a clear understanding of your current situation. The following questions are a great way to gain an understanding on this.
- Am I Still Learning and Growing? If you feel stagnant, it might be time to seek out a new challenge. Continuous growth is essential, especially in the worlds of Audit and Tax.
- Do I Feel Fulfilled in My Current Role? Satisfaction isn't just about money or title; it's also about how engaged and motivated you feel. If your role no longer excites you, it could be a sign that you need to explore new opportunities.
- Is My Current Role Aligned with My Long-Term Goals? Regularly assess whether your current position is helping you move toward your long-term career objectives. If not, it may be time to consider a new position.
- Am I Adequately Compensated and Recognised? Compensation and recognition are key indicators of your value to a company. If you feel underappreciated or underpaid, it may be worth exploring other opportunities.
- How Is My Work-Life Balance? Burnout is a real concern in high-pressure roles, such as Audit and Tax. If your current job is negatively impacting your personal life, it might be time to reconsider your career trajectory.
Timing Is Everything
The right time to make a career move is unique to you. By setting clear goals, choosing the right path, and regularly assessing your position, you can make informed decisions that keep you on track toward a fulfilling and successful career. Remember, career planning isn't a one-time activity—it's an ongoing process that evolves with you. At Rutherford Briant, we are always happy to have free 30-minute Career Planning Sessions, to help you navigate your journey.