Sydney bats its lashes at graduates

A shortage of accountants in Australia spells good news for newly qualified Irish, who can earn a healthy wage and lap up the lifestyle, writes Caroline Madden

Spending a year in Australia has become almost a rite of passage for Irish graduates, but if you're considering a career in accountancy, it could be worth waiting until you're fully qualified before heading Down Under.

Rather than roughing it on a backpacker's budget, newly qualified accountants can have the best of both worlds, combining travel and the laid-back Aussie lifestyle with a lucrative and career-enhancing job contract.

Due to the shortage of accountants in the Australian market, international candidates are in strong demand, particularly in the financial services and commercial sectors.

Salary levels have risen significantly over the past year in order to entice high calibre accountants from overseas locations, not least Ireland.

"Irish candidates have a solid reputation in Australia for having strong work ethics and excellent technical skills, meaning they're always in demand," says Louise Langridge, joint managing director of Sydney-based recruitment firm Morgan McKinley.

"If they make the move now, candidates will be entering an extremely favourable job market as opportunities and salaries for these individuals have never been better," she says. "Coupled with the fantastic Australian lifestyle, it is the perfect opportunity for newly qualifieds to further their careers."

Langridge estimates that 90 per cent of newly qualified accountants arriving from Ireland have trained at one of the "big four" accountancy firms. They generally hold the ACA qualification and their training is very highly regarded by Australian employers.

The remaining 10 per cent, who may have other qualifications such as CIMA, also fare very well in the Australian market, she notes.

"They [ Irish candidates] come across with a strong technical accounting skill set," says Langridge. "They assimilate very easily into the Australian marketplace. I think our clients really like the fact that they do work hard but they have a bit of fun at the same time."

Irish accountants generally travel to Australia on spec, with a one-year working holiday visa. (If certain criteria are met, it is now possible to apply for a second one-year visa.)

It's not unusual for skilled candidates to find themselves with several attractive job offers within a matter of days. The main areas in which they gain employment are financial or management accountancy positions, and business analyst roles.

According to Langridge, there is also a huge demand for people in the areas of audit and risk, but even though employers in this space are willing to pay a premium, Irish candidates tend to steer clear of these roles.

With the market so buoyant at the moment, they prefer to get some really interesting work and gain valuable commercial experience instead, Langridge says.

"Because there's a wealth of opportunity, a lot of them break out and do something different while they're over here."

So what kind of remuneration can they expect? The shortage of skilled candidates has driven up salary levels for accountants with one to three years post-qualification experience by approximately 12 per cent in the last year.

A skilled newly qualified accountant working in product control with an investment bank in Sydney can now earn approximately $85,000 Australian dollars (€35,500), compared with $75,000 (€31,000) in 2006.

Apart from the financial rewards, there is of course the lifestyle to consider. The relaxed Australian attitude seems to filter through to office culture; sharing a few beers in the office on Friday afternoons can be quite common.

Organisations also tend to be less hierarchical, adopting a flatter structure, which means that it is easier to get access to senior people in the company.

Part of the popularity of Irish accountants with Australian employers comes down to their "work hard, play hard" mentality.

"At the Beach Road Hotel on Wednesday night in Bondi, you'll see a lot of Irish accountants out there having a great time," says Langridge.

She adds that quite often, companies are so impressed with Irish accountants that they are prepared to sponsor them for a four-year business visa. "They can often secure permanent work once they're here," she says. "It's easier once they've actually got to Australia to do that."

In addition, accountants are now listed on Australia's migration occupations demand list.

This means that Irish accountants have a much better chance of gaining a highly skilled migrant visa, which would allow them (and dependent family members) to relocate permanently. Some 102,500 skilled visas will be granted by June of next year.

If you're a recently qualified accountant looking to add some excitement to your life, you might want to head to the Working in Australia seminar in the Westbury Hotel in Dublin next Wednesday evening, August 29th.

The seminar will be hosted by recruitment firms Morgan McKinley and Accreate, and will provide an insight into everything from job opportunities and potential employers to the types of visas available and how to organise accommodation.