JOB INSIGHTS
Partner - Accountancy
LAST UPDATED 22 Jul 2022
42 active jobs

The role of partners in accountancy today

 

As the job title name suggests, a partner at an accounting firm represents one of the highest leadership positions in such a finance job. Essentially, as a partner, you become one of the owners of the company. If you’re looking to gravitate your career toward a role that is highly collaborative and works beyond traditional financial responsibilities—this job in Malta or elsewhere can be a rewarding one to work up to.

Accountancy partners have a lot of authority on what goes on within the company and their external reputation. Partners hold the influence to make highly regarded decisions and the power to allocate resources accordingly. With their financial knowledge, partners can work to improve business profitability and overall successful company growth.

Becoming a partner in an accountancy firm marks a great point in any accountant’s career, demonstrating their years of hard work is rewarded. As a senior on-site or remote job, interested applicants must prepare themselves to gain numerous years of experience, practice, and financial knowledge before actualising such a career path.

 

Advantages of partnership

 

As one of the owners of an accountancy firm, you must be prepared to take on critical duties and responsibilities that determine the growth of the business. Albeit your financial skills are vital here, so too is knowledge in legal frameworks and similar regulations. In this way, you are able to make thoughtful decisions about potentially risky work circumstances.

The labour that goes into an accountancy partner does pay off. Below illustrates just some of the advantages that comes with a high financial title:

  • Great compensation: as a partner, your compensation does not simply rely on your annual pay and bonuses. You’ll also benefit from profit shares and similar packages.
  • Influence: your creative skills can go a long way in determining the success of the business. You hold a lot of authority in what strategies are implemented and decide what the standards are for the firm’s quality of work. By leveraging your connections and good relationships, you will own part of the company’s overall success.
  • Equity: for many on-site or remote jobs these days, equity is a valuable element to compensation and rewards. As an owner of the firm, you will organise the distribution of profits and invest in the long-term financial plans that contribute to meeting business goals.

Naturally, becoming an owner of a business can have many benefits, as illustrated above. However, this is not to say that partnership is without any challenges. Taking care of a business is hard work and often relies on risky decisions, especially in a financial context, where clients rely on stable and consistent operations. You’ll have to get used to making sacrifices for the sake of the business and feel confident in doing so. Partnership is not for everyone—but if you’re somebody looking for the next step in your finance career and are ready to take the plunge, then this finance job can be the right path.

 

Duties and responsibilities of partners in accountancy

 

Partners of accountancy firms combine their various skill sets with leadership responsibilities in overseeing and supervising diverse internal processes. With this in mind, partners are able to effectively develop strategies and monitor progress over time. Whilst their specific duties and responsibilities will differ depending on the organisation’s size and resources, commonalities between them include:

  • Managing a portfolio of high-esteemed clients,
  • Advise clients on financial decision-making,
  • Identify and oversee novel business opportunities for the firm,
  • Develop strategies that contribute to firm growth and success,
  • Devise short- and long-term financial targets and ensure these are met, and
  • Oversee internal teams and ensure whether they are effectively meeting client needs.

As an accountancy partner, no one business day will be the same. It’s a challenging and rewarding finance job that comprises several duties that demands expertise and strategy. Such a job in Malta or elsewhere can be highly dynamic, for these individuals work with numerous personnel to ensure smooth business operations. Their role is integral within organisations and the demand for talent in this area is increasing, especially as organisations adopt novel technologies and means to conduct everyday tasks. 

 

Salary expectations 

 

The demand for talented partners to take on accountancy firms is rapidly increasing, leading the career with fast-paced growth capabilities alongside impressive salary raises. The Castille Salary Survey is based on the average gross basic salary ranges we have seen offered in the local market over the last 12 months. This survey is updated quarterly, remaining representative of current market trends.   

For a global perspective, it is worth keeping in mind that sources vary and are subject to change with time. Considering these variances, salaries for partners in accountancy consistently reflect an average salary ranging from $100,000 to $170,000 a year. These numbers vary according to level of experience, specialisation, and other associated living costs. 

 

Education and qualifications of partners in accountancy

 

Due to their senior positioning, becoming a partner in accountancy requires extensive work experience and qualifications to successfully pursue. Namely, you must earn at least a bachelor’s degree in accounting or a similar financial discipline. Many partners also possess a master’s degree for an area of specialisation, and to improve their knowledge in the industry. To practise in an accountancy firm, you must have the necessary licenses which typically require additional examination. 

Whilst your educational background is important to become a partner, you must also possess several years of work experience in the field, highlighting your capabilities in a leadership position and the ability to become an owner of a company. Your CV is not enough to become a partner however, as other executives will be looking for the right skills and interpersonal qualities, they believe they can play the part. Spend some time exploring job descriptions that highlight the qualities of a partner to help your chances in succeeding in this job in Malta or elsewhere.

 

Trending technologies and skill sets 

 

As a collaborative job, it’s no wonder that partners in accountancy firms gain their skills in ones such as communication and leadership. In working with various office functions, other trending technologies and skill sets include:

  • Leadership: partners provide guidance in business planning and evaluate decision-making related to strategies that ensure company growth, alongside supervising teams and departments to reach goals.
  • Communication: partners communicate and collaborate with internal and external parties of a business. Communication skills are vital to ensure employees, stakeholders, and other senior management members understand the reasoning involved with certain business decisions.
  • Financial planning: as individuals who understand the inner workings of the business, partners in accountancy are responsible for ensuring a company continues to positively succeed, and this means having a greater understanding in short- and long-term investment planning.
  • Technical skills: nowadays, businesses rely on technological means to give them a competitive edge. Accountant jobs and similar finance professions like a partner must be technically proficient, including in the use of specific software to conduct day-to-day operations.

The above illustrates the general skills of such a job that is focused around supporting business professionals whilst ensuring internal structures operate well. They understand current business objectives and help amend these during shifting workplace trends. 

 

Career prospects as a partner in accountancy

 

Partners in accountancy typically work in various office environments, including a work from home job. They collaborate with diverse personnel frequently and facilitate internal and external communications. The consistent use of valuable hard and soft skills employed by the partner is transferable across organisations, meaning these individuals are able to work in diverse workplace settings.

For jobseekers interested in pursuing a career path as a partner in an accountancy firm, individuals should work to gain valuable work experience in any preferred industry. Applicants must consider their area of specialisation thoughtfully and apply for jobs that are relevant. Partners can continue to improve their strategic and soft skills through independent learning and keeping up with workplace affairs.

 

Begin your partner in accountancy career today with Castille 

 

Now that you’ve critically assessed what working as a partner in an accountancy firm is about and whether it is right for you, you are able to kickstart your career in this ever-growing field. As technology and the workforce continues to rapidly advance, the role of a partner remains a career suitable for the long-haul.

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Partner - Accountancy
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