Does FCMA count for anything in Oz?
May 22nd 2007, 3:04 pm
#1
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Does FCMA count for anything in Oz?
I've been reading a few of these threads and am a bit worried about what would happen if I relocate to Australia regarding employment.
I'm a 38 year old FCMA and have a 136 visa which was granted in December 2006 (& validated in February 2007). I don't have a university degree and don't particularly want to get one at this stage in my life (I find exams harder to do as I get older!).
I have a good job in the UK as FD of a FMCG multi site company with a turnover of £100m+. My husband also has a good job (coincidentally in the same company but a different area) earning a similar amount to me. Now, we are happy to take a drop in earnings when we eventually relocate to Australia (Sydney area preferred) but don't really want to start at the very bottom again as we have got used to a nice standard of living here. I'm concerned that my qualification and experience won't really count for much. I know it was worth something for me to get the visa but does this really count for much in reality? Is it possible that I would be able to get a senior position in a business or am I kidding myself?
Any answers would be gratefully received
I'm a 38 year old FCMA and have a 136 visa which was granted in December 2006 (& validated in February 2007). I don't have a university degree and don't particularly want to get one at this stage in my life (I find exams harder to do as I get older!).
I have a good job in the UK as FD of a FMCG multi site company with a turnover of £100m+. My husband also has a good job (coincidentally in the same company but a different area) earning a similar amount to me. Now, we are happy to take a drop in earnings when we eventually relocate to Australia (Sydney area preferred) but don't really want to start at the very bottom again as we have got used to a nice standard of living here. I'm concerned that my qualification and experience won't really count for much. I know it was worth something for me to get the visa but does this really count for much in reality? Is it possible that I would be able to get a senior position in a business or am I kidding myself?
Any answers would be gratefully received
May 22nd 2007, 3:31 pm
#2
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Joined: Apr 2004
Posts: 34,649
Re: Does FCMA count for anything in Oz?
For any job at senior level, your qualification is only one part of a much bigger mix. So in that sense, your question is limited in its scope.
There's fairly stiff competition for senior jobs, and most people who migrate do take some kind of salary drop even if they don't have to start at the bottom.
As to how much FCMA is worth. Clearly it's going to be worth a lot more if whomever you encounter is British or has lived in the UK and hence knows what it means. If someone doesn't know what it means, it's going to be worth a lot less. Perception is more important than reality.
You should look hard at becoming an English CA through direct entry as you would appear to be eligible. The advantage of being an English CA is that more Australians you are likely to meet will understand what it means. Again - it's perception.
There's fairly stiff competition for senior jobs, and most people who migrate do take some kind of salary drop even if they don't have to start at the bottom.
As to how much FCMA is worth. Clearly it's going to be worth a lot more if whomever you encounter is British or has lived in the UK and hence knows what it means. If someone doesn't know what it means, it's going to be worth a lot less. Perception is more important than reality.
You should look hard at becoming an English CA through direct entry as you would appear to be eligible. The advantage of being an English CA is that more Australians you are likely to meet will understand what it means. Again - it's perception.
May 23rd 2007, 9:52 am
#3
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Re: Does FCMA count for anything in Oz?
For any job at senior level, your qualification is only one part of a much bigger mix. So in that sense, your question is limited in its scope.
There's fairly stiff competition for senior jobs, and most people who migrate do take some kind of salary drop even if they don't have to start at the bottom.
As to how much FCMA is worth. Clearly it's going to be worth a lot more if whomever you encounter is British or has lived in the UK and hence knows what it means. If someone doesn't know what it means, it's going to be worth a lot less. Perception is more important than reality.
You should look hard at becoming an English CA through direct entry as you would appear to be eligible. The advantage of being an English CA is that more Australians you are likely to meet will understand what it means. Again - it's perception.
There's fairly stiff competition for senior jobs, and most people who migrate do take some kind of salary drop even if they don't have to start at the bottom.
As to how much FCMA is worth. Clearly it's going to be worth a lot more if whomever you encounter is British or has lived in the UK and hence knows what it means. If someone doesn't know what it means, it's going to be worth a lot less. Perception is more important than reality.
You should look hard at becoming an English CA through direct entry as you would appear to be eligible. The advantage of being an English CA is that more Australians you are likely to meet will understand what it means. Again - it's perception.
The English CA route is of interest and, having looked into it a little further, I would agree that I appear to be eligible so I think I will progress with that before we relocate. Your suggestion has been very helpful - thanks
May 23rd 2007, 9:59 am
#4
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Location: Chorley Lancashire
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Re: Does FCMA count for anything in Oz?
Hi JulesM,
I am in a similar position to yourself, however I am an FC, and waiting my skills assessment result, many of the worries you have expressed i feel the same,
Have you tried contacting any of the agencies, if you look on Hays' website they have an area for people who are planning to work overseas, and they are based in London, it may be worth a chat.
sue
I am in a similar position to yourself, however I am an FC, and waiting my skills assessment result, many of the worries you have expressed i feel the same,
Have you tried contacting any of the agencies, if you look on Hays' website they have an area for people who are planning to work overseas, and they are based in London, it may be worth a chat.
sue
May 23rd 2007, 1:31 pm
#5
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Posts: 34,649
Re: Does FCMA count for anything in Oz?
Also be aware it won't help you become an Australian CA through mutual recognition, as direct entry doesn't qualify. The key advantage it gives is greater name recognition in Australia.
May 24th 2007, 12:04 pm
#6
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Location: Reading, UK
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Re: Does FCMA count for anything in Oz?
Dear Jaj
I have seen that you have make many posts relating to UK accountants. In your experience do you know if people from the UK with either ACCA or CIMA qualification are able to find suitable employment in Australia. As accountants are on the SOL list this would indicate there are opportunities for accountants in Australia. Also, the ACCA and CIMA are very recognised qualification in a lot of countries. In my opinion, I dont think that the CPA,NIA and icca have a higher status than the UK qualifications. However i can understand that employers in Australia will rate these as they are the ones they are used to seeing. I'm sure most employers in Australia will recognise the need to comply with global accounting standard therfore making any the UK quals relevant as we have started to comply with International financial reporting standards already.
I look forward to your comments.
I have seen that you have make many posts relating to UK accountants. In your experience do you know if people from the UK with either ACCA or CIMA qualification are able to find suitable employment in Australia. As accountants are on the SOL list this would indicate there are opportunities for accountants in Australia. Also, the ACCA and CIMA are very recognised qualification in a lot of countries. In my opinion, I dont think that the CPA,NIA and icca have a higher status than the UK qualifications. However i can understand that employers in Australia will rate these as they are the ones they are used to seeing. I'm sure most employers in Australia will recognise the need to comply with global accounting standard therfore making any the UK quals relevant as we have started to comply with International financial reporting standards already.
I look forward to your comments.
May 24th 2007, 4:23 pm
#7
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Posts: 34,649
Re: Does FCMA count for anything in Oz?
Dear Jaj
I have seen that you have make many posts relating to UK accountants. In your experience do you know if people from the UK with either ACCA or CIMA qualification are able to find suitable employment in Australia. As accountants are on the SOL list this would indicate there are opportunities for accountants in Australia. Also, the ACCA and CIMA are very recognised qualification in a lot of countries. In my opinion, I dont think that the CPA,NIA and icca have a higher status than the UK qualifications. However i can understand that employers in Australia will rate these as they are the ones they are used to seeing. I'm sure most employers in Australia will recognise the need to comply with global accounting standard therfore making any the UK quals relevant as we have started to comply with International financial reporting standards already.
I have seen that you have make many posts relating to UK accountants. In your experience do you know if people from the UK with either ACCA or CIMA qualification are able to find suitable employment in Australia. As accountants are on the SOL list this would indicate there are opportunities for accountants in Australia. Also, the ACCA and CIMA are very recognised qualification in a lot of countries. In my opinion, I dont think that the CPA,NIA and icca have a higher status than the UK qualifications. However i can understand that employers in Australia will rate these as they are the ones they are used to seeing. I'm sure most employers in Australia will recognise the need to comply with global accounting standard therfore making any the UK quals relevant as we have started to comply with International financial reporting standards already.
The reality is that ACCA and CIMA are foreign qualifications in Australia and most Australian employers don't really understand them. That's not to say that they aren't worth anything, but a local qualification will always be preferable.
Not just for getting employment in the first place, but getting promotions thereafter. If you have to explain at length what your qualification means, then you are on the wrong track.
ACCA and CIMA are partially recognised in Australia. They can be used as a basis to migrate, a basis for further study in Australia, and have some recognition in the Australian employment market. But they are not as useful for career progression in Australia as an Australian CA or CPA.
Most ACCA/CIMA migrants do find employment but the real question is whether they will find employment of the same quality and have the same career progression prospects as those who are Australian qualified. This applies especially in smaller companies and outside the largest cities.
An English CA qualification is more directly comparable to an Australian CA qualification, and may be worth more than ACCA/CIMA on that basis.
It's really your choice as to what you want to do and who you want to believe.
May 25th 2007, 11:32 pm
#8
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Posts: 54
Re: Does FCMA count for anything in Oz?
Hi Jules M
I know where you are coming from. I too am an FCMA with 20 years plus FD level at £50m, and I have had to think very carefully about how this would 'fit' into the Austrlian work system. I would be happy to take a backward step or two, and earn my stripes for a more senior postion in Australia, however I have concerns as to the degree of backward stepping involved. Is there anyone out there who has had the same concerns and found them to be unwarranted?
In terms of qualifications I am sure JAJ is right about how the different qualifications are understood. I have looked at the conversion to Austrlian accountancy bodies and it does mean going right back to the start, particularly as I do not have a degree. I have written to the CPA to ask if they could look at a higher level transfer facility, involving a familiarisation course for more senior accountants, and this is something they are considering for the future, but it is not in place as yet.
I am therefore going to apply for the pathway to ICAEW, and study for the CIMA MSC at ESC Lille (CIMA website) - with these two steps I will have a more recognisable qualification, and have a higher degree, which will fit in a lot better with the person specs for jobs in Australia.
I went to the Workshp for the Pathway today, and JAJ is correct, it is likely to be available for a limited time only.
Hope this helps
HJG
I know where you are coming from. I too am an FCMA with 20 years plus FD level at £50m, and I have had to think very carefully about how this would 'fit' into the Austrlian work system. I would be happy to take a backward step or two, and earn my stripes for a more senior postion in Australia, however I have concerns as to the degree of backward stepping involved. Is there anyone out there who has had the same concerns and found them to be unwarranted?
In terms of qualifications I am sure JAJ is right about how the different qualifications are understood. I have looked at the conversion to Austrlian accountancy bodies and it does mean going right back to the start, particularly as I do not have a degree. I have written to the CPA to ask if they could look at a higher level transfer facility, involving a familiarisation course for more senior accountants, and this is something they are considering for the future, but it is not in place as yet.
I am therefore going to apply for the pathway to ICAEW, and study for the CIMA MSC at ESC Lille (CIMA website) - with these two steps I will have a more recognisable qualification, and have a higher degree, which will fit in a lot better with the person specs for jobs in Australia.
I went to the Workshp for the Pathway today, and JAJ is correct, it is likely to be available for a limited time only.
Hope this helps
HJG
May 26th 2007, 4:01 am
#9
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Re: Does FCMA count for anything in Oz?
I have written to the CPA to ask if they could look at a higher level transfer facility, involving a familiarisation course for more senior accountants, and this is something they are considering for the future, but it is not in place as yet.
But - if you're going to have to do extra study, why would you want to do the CPA Program instead of the CA Program? CA is a better regarded and more portable qualification.
May 26th 2007, 8:45 am
#10
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Joined: Apr 2007
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Re: Does FCMA count for anything in Oz?
Hi JaJ,
Whilst I see what you mean about not going right to the start, as you would not have to do a degree, you would still need to study all the basics of accountancy again. I am very enthusiastic as I am sure are others about Continual Professional Development, but anyone who took the exams 20 years ago in the UK, and has had a succesful career since would feel that they were going over old ground. With the exception of course of understanding any differences with the Australian system, it does not feel useful use of time, and I think this is the frustration which people on the site, including myself are demonstrating. The time length of mentoring is also an issue as we are not used to our work being supervised by this time in our carreers.
In terms of the question about CPA, if they were proactive in terms of a Senior Accountant pathway from the English institutes I would certainly be interested.
HJG
Whilst I see what you mean about not going right to the start, as you would not have to do a degree, you would still need to study all the basics of accountancy again. I am very enthusiastic as I am sure are others about Continual Professional Development, but anyone who took the exams 20 years ago in the UK, and has had a succesful career since would feel that they were going over old ground. With the exception of course of understanding any differences with the Australian system, it does not feel useful use of time, and I think this is the frustration which people on the site, including myself are demonstrating. The time length of mentoring is also an issue as we are not used to our work being supervised by this time in our carreers.
In terms of the question about CPA, if they were proactive in terms of a Senior Accountant pathway from the English institutes I would certainly be interested.
HJG
May 26th 2007, 2:38 pm
#11
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Joined: Apr 2004
Posts: 34,649
Re: Does FCMA count for anything in Oz?
Hi JaJ,
Whilst I see what you mean about not going right to the start, as you would not have to do a degree, you would still need to study all the basics of accountancy again. I am very enthusiastic as I am sure are others about Continual Professional Development, but anyone who took the exams 20 years ago in the UK, and has had a succesful career since would feel that they were going over old ground.
Whilst I see what you mean about not going right to the start, as you would not have to do a degree, you would still need to study all the basics of accountancy again. I am very enthusiastic as I am sure are others about Continual Professional Development, but anyone who took the exams 20 years ago in the UK, and has had a succesful career since would feel that they were going over old ground.
All you have to re-sit is the final stage of the exams (CA or CPA Program).
The time length of mentoring is also an issue as we are not used to our work being supervised by this time in our carreers.
1. CPA will waive the mentoring requirement for members of specified overseas accounting bodies.
2. If you decide to do the CA Program, you will find plenty of Australian CAs in industry (there is no need to work in public practise). Also, certain other professionals can act as mentors for the ICAA, such as New Zealand Chartered Accountants.
In terms of the question about CPA, if they were proactive in terms of a Senior Accountant pathway from the English institutes I would certainly be interested.
A further alternative is the National Institute of Accountants. They do recognise CIMA for the purpose of obtaining the Professional National Accountant (PNA) designation (or at least they used to - note that this could change anytime). NIA is not as well recognised in the market as ICAA or CPAA but in 2005 they upgraded the academic standards to become a PNA and over the next 10-20 years, PNA should increase its value in the Australian market.
If you decide to go for PNA or even CPA, it would be strongly recommended to have your English CA designation alongside it.
Jul 22nd 2007, 1:43 pm
#12
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Joined: Mar 2007
Location: Reading, UK
Posts: 44
Re: Does FCMA count for anything in Oz?
Hi Guys
I just thought that some of you may be interested in the attahed Hays weblink. It give commentary on the the accounting/finance sector in Australia for the last 12 months. the outlook is good as long as you are qualified and have suitable experience. I was particularly encouraged by the positions in demand section.
It states - the increased statuatory compliance is driving vacancy activity higher. Also the ongoing``
I just thought that some of you may be interested in the attahed Hays weblink. It give commentary on the the accounting/finance sector in Australia for the last 12 months. the outlook is good as long as you are qualified and have suitable experience. I was particularly encouraged by the positions in demand section.
It states - the increased statuatory compliance is driving vacancy activity higher. Also the ongoing``
Jul 22nd 2007, 1:46 pm
#13
Forum Regular
Joined: Mar 2007
Location: Reading, UK
Posts: 44
Re: Does FCMA count for anything in Oz?
Hi Guys
I just thought that some of you may be interested in the attahed Hays weblink. It give commentary on the the accounting/finance sector in Australia for the last 12 months. the outlook is good as long as you are qualified and have suitable experience. I was particularly encouraged by the positions in demand section.
It states - the increased statuatory compliance is driving vacancy activity higher. Also the ongoing focus on risk and compliance remains a key area craeting demand for accountants with financial governance IFRS/SOX and risk experience.
http://www.hays.com.au/salary/pdfs07...%20Finance.pdf
I hope this gves you some encouragement that qualifications and more so experience counts for somthing in Aus.
cheers!!!
I just thought that some of you may be interested in the attahed Hays weblink. It give commentary on the the accounting/finance sector in Australia for the last 12 months. the outlook is good as long as you are qualified and have suitable experience. I was particularly encouraged by the positions in demand section.
It states - the increased statuatory compliance is driving vacancy activity higher. Also the ongoing focus on risk and compliance remains a key area craeting demand for accountants with financial governance IFRS/SOX and risk experience.
http://www.hays.com.au/salary/pdfs07...%20Finance.pdf
I hope this gves you some encouragement that qualifications and more so experience counts for somthing in Aus.
cheers!!!
