Practice vs In-house
Historically, many newly qualified tax professionals choose to change employers. Reasons for moving will vary but consider your options carefully before moving at this level.
Why stay in Practice?
Quality of training and development
Even after qualifying, many Practice firms will continue to offer excellent in-house technical training, experience and support throughout your career, ensuring you remain technically strong and up-to-date as you progress through the firm.
Variety of clients and opportunities to broaden your experience
Working on a diverse portfolio of clients, potentially across a range of industries, will give you the opportunity to apply and broaden your technical knowledge. Larger Practice firms, in particular, can offer opportunities to move around internally between departments, functions and even countries, significantly broadening your experience.
Excellent long-term career prospects
Particularly within the Big 4 firm, there is a structured path for career progression. You will also have the opportunity to develop new skills, i.e., Business Development
Other perks of working in Practice?
You will be surrounded by like-minded peers, receive great support, and be part of an increasingly entrepreneurial environment as you progress through your career and develop your business.
Why move in-house?
Increased depth in the work you are exposed to
Although working in a firm allows you to experience different companies and sometimes industries, you will likely not see a project through from beginning to end. Working in-house will allow you to see projects from start to finish.
To assume a higher level of visibility across the business
A common complaint from candidates working in larger professional firms is that they feel like a small cog in a big wheel. In-house teams will likely be significantly smaller, and you will likely have relationships with all other tax department members, including the Head of Tax.
The desire to develop commercial acumen
A move into industry will eventually allow you to participate in making business decisions that are not solely tax related.
A chance to move away from tax
It is easier for a qualified (ACA or CTA) corporate tax professional to move into a broader finance-focused role as organisations are likely to attempt to recruit internally before making an external hire.