At present there are around 169,000 charities in Britain which means there is a constant flow of finance opportunities and a demand for accountants who have a genuine interest in the sector.
Many finance professionals who work in the charity sector claim that job satisfaction, a work life balance and the chance to give something back are just a few of the many perks that keep them motivated and happy in their roles. This sector offers a huge variety of clients and therefore various working environments, some of which can be just as demanding and fast paced as the commercial sector. It requires dedicated accountants who are looking for their work to be recognized and to be able to see how their achievements have made a difference to the organisation.
What is the Charity Sector?
The charity or not for profit sector covers a large number of organisations from small to large international NGO’s. These can often include universities, schools and voluntary organisations. The majority of charities are registered with the Charity Commission. The main aspects of the charity sector are that they are separate from business and government and they do not distribute their profits to shareholders. A charity’s main aim is to be of benefit to the public, and many of the major charities have become well known public names.
Why Work for Charities?
Salaries can be really competitive and can often be as good as what the commercial sector may offer. However it is generally the great overall benefits of working with the sector such as excellent holiday entitlement, pension schemes, flexible working hours and a good working environment that really motivates candidates. To give you an idea of the basic salaries that an Accounts Assistants can expect is around £18,000 - £23,000 and Finance Managers will be around £32,000 to £37,000. These salaries can vary greatly, depending on the size of the organisation, their income and the qualifications required.
What do I need to do to get the Job?
- Doing a course or familiarising yourself with SORP
- Drawing up strong supporting statements to provide evidence of your genuine interest for the sector.
- Being Part or Fully Qualified in either ACA, ACCA, CIMA or CIPFA
- Work as a treasurer or trustee
- Voluntary work
- Ensure that your skills are relevant and transferable to the roles you are applying for in the charity sector
- Do research on the various not for profit organisations, know where you would like to work, for example, health,
children's charities, international development, etc
- Study information provided by www.guidestar.org.uk or http://www.charity- commission.gov.uk/ and
familiarise yourself with charities finances through year end accounts
Job Options within the Charity Sector
The larger charities do run their organisations in just the same way as other businesses. Career progression opportunities are available within finance departments and there are different financial jobs available to qualified individuals.
These jobs will include:
- Financial Accountants
- Finance Director
- Qualified Accountant
- Management Accountant
- Bookkeeper
- Payroll Manager
- Finance Officer
- Accounts Assistant
- Tax Accountants
- Auditors
- Financial Development Directors
- Finance Managers
- Finance and Administration Directors
- Business Development Managers
- Finance and Corporate Service Managers
- Funding and Budget Managers
These are just a sample of the many finance jobs available within the charities sector. Salaries and benefits will depend on the size of the organisation and the geographical location.
Qualifications
Whether you are a fully Qualified Accountant or currently pursuing an ACA, ACCA, CIMA or CIPFA qualification for example can be extremely beneficial and really set you aside from some of the other candidates. Being such a competitive sector along with the current economic climate, many of our clients seek out candidates who are dedicated to securing a qualification and are often willing to pay higher salaries for those who are. Many of our clients offer study support and study leave as an extra added bonus although this is not always the case. If you are a graduate or trainee, you will find most of these roles are advertised directly with the clients and internal training programs can be on offer.
A good way of getting a foot in the door if you have limited experience, can be through temping which will enable you to gain various experience within finance and some of the key accounting packages used.
