Tab Content: Careers in Accounting

Accounting and Finance is often the chosen route to becoming a professional accountant, but there's actually a much broader range of career options for Accounting and Finance graduates ranging from IT consulting to management consulting.

Qualifying as a professional accountant

If you choose to pursue a career as a professional accountant, you'll need to gain work experience with an accounting firm after you graduate, and pass a series of exams set by one of the four professional accountancy bodies. This is the standard process, and applies to all graduates regardless of the degree subject studied - it's one of the reasons that the accounting professional boasts members drawn from such a wide range of disciplinary backgrounds. The four major professional accountancy bodies are:

• Institute of Chartered Accountants in England and Wales (ICAEW)
• Institute of Chartered Accountants of Scotland (ICAS)
• Association of Chartered Certified Accountants (ACCA)
• Chartered Institute of Management Accountants (CIMA)

Accounting Firms

Professional accounting firms are grouped into three broad areas, each offering different rewards and benefits. Larger firms usually offer the more generous financial rewards, better study support and a wider range of post-qualification career opportunities whilst smaller firms normally have a more personable and relaxed working environment. Choosing the right organisation for you will depend on several factors including your degree result, personality, career aspirations, location and lifestyle.

• Multinational Professional Service Firms - the biggest names in accounting: Deloitte, EY, KPMG and PwC.
• Second-Tier Professional Service Firms - Not quite the biggest, but these firms command a significant national and international presence and include BDO, Grant Thornton and Mazars.
• Regional Accountancy Practices - Ranging from sole practitioners to large partnerships, these firms provide services to thousands of smaller businesses who play a crucial role in the UK economy.

Application Process

The procedures can vary from firm to firm, but most of the large firms use the following selection methods:

• Stage One - Online Application Form: This covers your personal details, preferred specialism and geographic location. Accuracy is key at this initial stage, so our careers support can ensure you complete this correctly.
• Stage Two - Psychometric Tests: Under a time limit, you'll complete a series of questions to assess your verbal reasoning and numeric skills. Preparation is key to success at this stage, so our career service offers a practical question tool to help you refine your skills.
• Stage Three - Assessment Centre Workshop: Normally conducted at the firm, you'll complete a series of activities such as presentations, team exercises and a partner interview to evaluate your personal characteristics.

Tab Content: Careers in Finance

The financial sector includes a range of highly desirable career pathways, which is why many of our students aspire to work in this area. As the rewards are high, the competition for graduate jobs is fierce so achieving a competitive edge is crucial to your success. Our dedicated approach to financial careers support is designed to provide you with relevant insight, specialist expertise and knowledge of hiring practices to help your secure your dream career.

Specialist careers coaching

Standing out in the competitive financial sector requires a deep understanding of the organisations that operate within it. That's why we've partnered with a financial careers coach, Paul McCormick, who has more than 30 years' experience at several leading investment banks and financial technology institutions including Morgan Stanley, JP Morgan, Barclays and Thomson Reuters.

Together, we've created a unique package of specialist financial careers support that sets LUMS apart from other institutions, with an excellent track record for helping LUMS students secure placements, internships and graduate programmes with Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch, Barclays, Thomson Reuters, Bloomberg and many more.

Our support includes:

• Access to the LUMS Financial Career Insight Series
• Personalised advice on sector, company and roles
• CV and cover letter development, tailored to the "City"
• Application review
• Company and sector insight to explain reasons for choice at interview
• Insight into financial industry trends and challenges
• Mock interviews and assessment centre preparation based on current hiring practices and interview techniques used by financial firms today.

What our students say

"Opening City Doors and Paul McCormick helped me prepare for every step of the recruitment process but most importantly made me realise what employers really look for. Paul McCormick is a markets professional and that makes the difference." Konstantina Kalantzi, MSc Advanced Financial Analysis

“What differentiates Paul from other career coaches is his extensive market knowledge. He knows the industry inside-out and is an excellent teacher who’s always happy to answer any of your queries however urgent they may be. I managed to secure an internship in a tier 1 financial institution and all the credit for it goes to Mr McCormick. I am very lucky to have been working with him and I will always value his advice”. Dominika Stylinska, Accounting & Finance