Employment: Going from public to private sector (Finance)

[Az]

I currently work in the public sector (for a non-departmental government body).

I didn't apply for jobs specifically in the public sector, just ends up that I got offered one here when I was looking for apprenticeships after sixth form (when I was 18 going on 19). At the time (and they still do) my employer offered some cool little benefits; healthcare package (£200 towards glasses, £300 towards dental care, etc etc), flexible working hours and at the time a good wage for an Apprentice (just shy of a grand month as an Apprentice).

Fast forward almost 3 years, i'm no longer an apprentice. I'm now an Assistant Accountant/Finance Officer with a relatively stressful job and I want to move jobs.

So, why do I want to move jobs?

For two reasons; pay and progression.

The benefits I receive at work I can easily live without, as I rarely use them anyway.

Where I currently work it's hard to progress as not many people leave their roles, consequently not many roles become available to progress into. As the benefits (especially flexible working hours and the general laid back approach here being a non-profit organisation) means the majority of people I work along side have worked here for a lengthy period of time with no intention of leaving soon (e.g. my manager's been here 9 years and my co-worker's 7 & 5 years respectively).

The pay is the bottom end of the spectrum being public sector. The jobs recently became stressful with members of staff leaving the team and not being replaced. Work load has increased and naturally so has the level of stress. Now, to be clear I can live with the extra stress and work load (I have done for the last year with no issues).

Speaking to others i've always been told that the private sector is more stressful (which I doubt it will be now) and you get less benefits (benefits I don't use anyway)...

Both private and public sector will pay for my development in education (ACCA) to become a qualified chartered accountant, as this is common practice among both private and public with my job role. So their equally matched there.

So it begs the question why don't I go for a higher paid private sector role, it'd seem dumb not to?

What i'm expecting from a private sector role is a stressful, high work load and pressured working environment, but as a result a better opportunity to progress my career more quickly.

Have I failed to consider anything here? I'd rather not apply and obtain a job in the private sector to then come across something I didn't anticipate.

[Itchy]

[Jewlio Rides Again LLB]

Wasn't one of the appeals of the public sector the lucrative pension?

That's how it used to be, anyway.
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Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
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[Itchy]

Hmm I wrote more than I intended.

TL:DR

If you are super focused, ruthless backstabbing psycho/sociopath (a combination or all of those attributes)

You will do well in finance.

If you're none of those things you'll probably end up as one of the middling people.
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Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

[linuxyeti]

[Robby]

The advantage of the public sector is that it's big. You only seem to be concentrating on your organisation and its lack of opportunities, while you should be looking on civil service jobs to see what is available to apply for in other places.

[Diggs]

I did it 20 years ago - Local Government to self employed. The main difference you'll find is that instead of having a single employer for years, you will most likely work for a variety of firms as and when they need you, plus maintain your own Limited Company as well. You will have to accept that you won't know when you will be paid from month to month - some months will be excellent and some you won't receive any income at all. You will get used to this after a decade or so...

Your Client-base will determine how many days a month you'll need to work, so don't expect to be able to control how much you work - that is unless you are in a position to turn work down.

You need to bear in mind that putting into a private pension won't be as rewarding as the scheme you are in now, so you should make other provision if you can afford it.

Bike related - In the past I've bought bikes when flush and sold them again to pay the taxman.

Could I work for a Local Authority again? No chance unless I'm subbing and the rates are right. Once you've been self-employed for a while you change your attitude to taking orders from people you don't respect....

Don't know if that helps!
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[Suntan Sid]

[MarJay]

I worked in the public sector for a year. I was bored, I didn't do much work, and it was bland as hell. I didn't get paid very well.

Then I went to the private sector, now I get paid a fair amount for my age, and my job is far more interesting. I get decent benefits, and I have a career path where I can progress money wise. My industry is currently being transformed by new technology which is a little frustrating for me sometimes, but I'm completely convinced that I'm far better off in the private sector.
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[Andy_Pagin]

[Az]

[Az]

[Az]

Looks like i'll be applying for private sector jobs soon! From what you've all said it's what i'm expecting and it's what I want.

Higher work load or/and more interesting work with a higher possibility of job loss in exchange for a higher wage, good work actually being recognised and better progression opportunities.

[Az]

Kind of related to the original post - which apps and websites do people recommend for job searching?

[Itchy]

[MarJay]

The absolute main A1 wonderful fantastic top level reason for going from the public to the private sector is:

Shirkers. You know the types, the ones who sit around moaning all day and don't do any work. Literally don't do anything. You get them in EVERY public sector job, and they destroy morale, never contribute anything positive and never back up their colleagues in any way. You know the type, the "I'll take the time off if you talk to me at lunch", the "It's not my job mate", the "Why are you doing it THAT way?" and the "I'm just off out for 5 minutes" ... 3 hours later. And my very favourite, the Union rep.

You don't get any of that in the private sector, certainly not to that level anyway.
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[Suntan Sid]

[MarJay]

[Jewlio Rides Again LLB]

[MarJay]

[Jewlio Rides Again LLB]

[D O G]

Get out of the public sector ASAP if you want to work in the private sector in the future, which you have indicated is the plan with UAE jobs. Private sector experience will always be more attractive to another private sector employer when you look for that next move, and the next one, and the next one...

LinkedIN is a good place to start job hunting. If you don't already have one, make a profile, get bombarded by connection requests from agents, watch as they spam jobs constantly.

Connect to local large corporates, they often have in house recruitment teams who scour LinkedIN for fresh meat. It works out cheaper than paying agents' fees.

Or go trad, do a cv, look at recruitment agents' websites, apply for jobs which look interesting. That will get you on their radar, go in, meet them etc. etc. If you are non moronic then they should put opportunities in front of you.

Key is getting the ACCA/CIMA qualification, once you have that you open up the next level of opportunities either within the same organisation or another.

I'd suggest you do not need anything more than that to get to the top, if that's what you want, if you are good enough to get to the top you will piss your exams, and progress quickly within an organisation.

Can't see you mentioning if you have any finance qualification? 25 is an excellent age to achieve one's qualification, you might be able to make that

[Jewlio Rides Again LLB]

Nobby works in finance, and currently doing one of his quals. Worth asking him?
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[MarJay]

Sorted now... finally... sorry....
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[Jewlio Rides Again LLB]

____________________
Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems