4th September 
 
Young accountants in the city will stay in their current role for 5.2 years compared to 7.5 years in regional and rural areas, and almost half intend to go overseas in the next two years an Institute of Chartered Accountants survey reveals.  
 
The results demonstrate there is employer loyalty amongst young accountants with those surveyed intending to stay in roles for an average of six years. And of those that intend to go overseas, more than half are male and a third are less than 25 years old.  
 
The independent* national survey polled 600 accountants of predominantly 21-30 age range. All the respondents were taken from the 11,400 that are presently studying the Chartered Accountants Program, the post-graduate diploma accountants take to become Chartered Accountants.  
 
“It is encouraging to see young accountant’s commitment and loyalty to employers given what we know from Generation Y research suggesting young people are more inclined to flit between jobs. Accounting is regarded as a profession offering long term rewards and accountants recognise this opportunity especially at the beginning of their career,” said Sheena Frenkel, General Manager for the Chartered Accountants Program and Admissions, Institute of Chartered Accountants in Australia.  
 
The Institute recently founded the Global Accounting Alliance which represents more than 700,000 accountants and offers Chartered Accountants a global platform on which to operate. With International Financial Reporting Standards and a superior track record of formal recognition of Australian Chartered Accountants in the major capital markets, Chartered Accountants are well placed to incorporate overseas postings as part of their career.  
 
The survey also provides insight for employers who want to retain talented young accountants. A clear career path is considered important with half of the respondents’ aspiring to become a manager in five years, and 17 per cent wanting to become a Financial Controller. For their ultimate career goal, 20 per cent of those surveyed aim to become Partners, closely followed by 16 per cent who plan to eventually run their own business.  
 
“The Chartered Accountant Program provides a solid foundation to realise these ambitions and Institute members such as Mark Bouris, CEO of Wizard and Tim Pethic, the founder of Nudie provide excellent role models for today’s Generation Y accountants,” Frenkel concluded.  
 
* Survey was undertaken by research group The Leading Edge