Balancing Act: Understanding the Implications of Higher Salaries in Insolvency

The insolvency market is experiencing an unprecedented demand for insolvency administrators and senior insolvency administrators. Over the past 18 months, salaries in this sector have seen dramatic increases, with some candidates receiving offers that vary by as much as £3,000 to £8,000. In some cases, candidates are even securing pay rises up to £10,000, whether by accepting new positions or negotiating with their current employers. While this is undoubtedly a positive development, it’s essential to understand the potential risks associated with these rapid salary increases.

The Positive Impact of Salary Increases

Salary increases are a welcome change for insolvency professionals, providing better financial stability and acknowledging their expertise and hard work. It’s common for job seekers to see multiple offers on the table, each company trying to outbid the other. This competitive environment is beneficial for candidates, offering them a range of choices and the ability to negotiate better terms.

Understanding Job Offer Variances

However, candidates should critically evaluate why some firms are offering significantly higher salaries than others. It’s crucial to ask questions such as:

  • Why is this firm offering more than its competitors?
  • Is the higher salary a sign of the company’s desperation to fill the role quickly?
  • What are the implications for job security and long-term career prospects?

Risks Associated with Higher Salaries

While a significant pay rise is attractive, it comes with its own set of challenges:

  • Increased Expectations: Employers offering higher salaries often expect more from their employees. This can translate into increased workloads, tighter deadlines, and higher performance standards.
  • Job Security: In an ever changing industry like insolvency, companies paying above the market rate might be more vulnerable to economic downturns. This could result in redundancies if the market takes a downward turn.
  • Future Salary Progression: Be aware that being paid more than the typical market rate now can impact your salary progression at higher levels. For instance, when you move up to positions like Assistant Manager or Manager, your salary might not increase as much compared to your peers who started at a lower rate.

Making an Informed Decision

When evaluating job offers, it’s important to look beyond the salary. Consider factors such as:

  • Career Progression: What opportunities for advancement does the company offer?
  • Company Culture: Does the company’s culture align with your values and work style?
  • Work Environment: What is the work-life balance like? Is the company supportive of professional development?
  • Long-Term Goals: Where do you see yourself in five years, and does this role align with that vision?

Conclusion: Balanced Decision-Making

In conclusion, while the rising salaries in the insolvency market are an exciting development, it’s crucial to make informed decisions based on a combination of factors. Salary is just one aspect of a job offer. Consider the overall opportunity, chances for progression, the company’s culture, and long-term stability. By taking a balanced approach, you can ensure that your career decisions lead to sustainable growth and satisfaction.

 


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

Finding the Right Balance: Office Visibility and Career Progression

Over the last few months, a recurring theme among candidates has been the frustration of not being promoted or progressing in their careers. While there can be various reasons for this, one factor that often goes unnoticed is the impact of physical presence in the office. With many firms adopting flexible work-from-home policies, it’s important to strike the right balance between remote work and being present in the office.

The Visibility Factor

Working from home offers numerous benefits – flexibility, comfort, and a better work-life balance. However, one of the unintended consequences of remote work can be reduced visibility. When you’re not physically present in the office, it can be harder for decision-makers to notice your contributions. This doesn’t mean that your work is any less valuable, but out of sight can sometimes mean out of mind.

Why Presence Matters

  • Spontaneous Interactions: Being in the office allows for spontaneous interactions with colleagues and superiors. These interactions can lead to mentorship opportunities, insights into upcoming projects, and chances to showcase your abilities in real-time.
  • Building Relationships: Physical presence helps in building stronger relationships with your team. It’s easier to establish rapport and trust when you regularly interact face-to-face, making it more likely that your efforts will be recognized and rewarded.
  • Demonstrating Commitment: While working from home can demonstrate flexibility and self-motivation, being in the office shows a level of commitment and eagerness to engage with the team and company culture directly.

Reflect and Adjust

If you’re feeling stuck in your career progression, take a moment to reflect on your current work habits. Ask yourself:

  • Am I making the most of my office days? Ensure that when you are in the office, you’re fully engaged and taking advantage of the opportunities to interact and contribute.
  • Can I increase my office presence? While it might not be necessary to be in the office every day, consider if there are strategic times or days when being present could make a difference.
  • How visible is my work? Even when working remotely, find ways to ensure your contributions are visible. Regular updates, participation in meetings, and proactive communication can help keep you on the radar.

Taking Action

If you acknowledge that increasing your office presence could benefit your career, make a conscious effort to adjust your schedule. Communicate with your manager about your intentions and seek their input on the best times to be present. It’s not about abandoning remote work, but about finding the right balance that allows you to maintain visibility and take advantage of in-person opportunities.

Final Thoughts

Career progression is a multifaceted journey, and while remote work offers great benefits, it’s important to stay mindful of how physical presence can impact your career development. By finding a balance that works for you, you can ensure that you remain visible, engaged, and on the path to achieving your professional goals.



If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

 

*GUEST POST* The road to becoming an insolvency practitioner

If you are considering a career as an insolvency practitioner, you may be wondering which path to take to achieve this goal.

Many insolvency practitioners come from a legal or accountancy background, however, this is not a requirement. If you know insolvency is the industry you want to be in, you can start your career without any prior qualifications or experience to your name and receive all the training you will need in-house at a reputable insolvency firm.

The road to becoming an insolvency practitioner can be a long one, as it will take time to obtain the knowledge, qualifications, and experience you need to gain your insolvency license. However, if you are willing to work hard and start from the bottom, it is possible to progress through the ranks relatively quickly.

Starting out…

While it is technically possible to pass the necessary exams to qualify as an insolvency practitioner without ever working in the industry, this is not a recommended course of action. Without the day-to-day hands on experience of managing active insolvency cases, not only are you likely to find the already tough exams even more challenging but you will then need to be able to source relevant work experience in order to apply for your insolvency license.

For most individuals joining the industry, they will be required to start in a junior role such as Trainee Insolvency Administrator. This will give you great experience of the fundamentals of what is involved across the whole spectrum of formal insolvency processes.

Working alongside more experienced colleagues, your day-to-day duties are likely to include being involved in preparing the required documentation to fulfil the statutory obligations as set out in the Insolvency Act 1986. You will become familiar with liaising with HMRC and other creditors, and gain vital knowledge of how an insolvency case is administered from start to finish.

Depending on the firm you are working for, you may be given the opportunity to sit in on the initial consultations between the insolvency practitioner and the director of the insolvent company. If you are invited to take part in such meetings, you should seize the opportunity. These meetings can be invaluable in understanding the typical types of problems directors face, as well as how the insolvency practitioner approaches giving advice and the considerations taken to decide upon the most appropriate solution going forward.

Examinations: Considering the CPI

When you have mastered the basics of the industry and feel ready to take the next step, you may wish to consider formalising your experience by obtaining an industry-recognised qualification.

The Certificate of Proficiency in Insolvency (CPI) is an introductory qualification which, while it does not give you the license you need to become an insolvency practitioner, is a great way to start your formal qualification journey as it will give you the chance to solidify the foundational knowledge which can be a huge advantage for when the times comes to sit your JIEB exams.

Sitting the CPI is not a necessary pre-requisite of becoming a licensed insolvency practitioner, however, this intermediate step is one many chose to take at this stage in their career.

The CPI consists of a three-hour examination which is set by the Insolvency Practitioners Association (IPA) with the syllabus covering the whole range of formal insolvency procedures, from liquidation and administration to IVAs and bankruptcy, as well as requiring an understanding of the legal and regulatory frameworks which underpin these processes.

Holding CPI status is recognised across the industry as a significant achievement, and can be a great stepping stone in taking your career to the next level.

Gaining your insolvency license: the JIEB exams

Once you have gained ample and varied experience within the insolvency industry, the time will come when you feel ready to sit the JIEB exams in order to achieve your insolvency license and become a licensed insolvency practitioner.

The JIEB exams consist of two papers; one focussed on corporate insolvency, the other personal insolvency. In order to be apply to apply for a full insolvency license, both exams must be passed. If only one exam is taken (or passed) you can apply for a partial license which will allow you to take appointments related to companies or individuals only (depending on which exam has been passed) rather than both.

In order to receive your insolvency license, you also need to be able to demonstrate a minimum of 600 hours of relevant work experience over the prior 3 years. If you have followed the path above, you will have accumulated this naturally during your employment. If, however, you have sat the JIEB without any prior work experience in the industry, you will need to complete these hours before you can apply for a license to practice.

In addition to passing the JIEB and having the requisite hours of relevant work experience, all prospective insolvency practitioners must also be approved as a fit and proper person by the Insolvency Licensing Commission as part of the application process.

Once all qualifying criteria has been met, an individual will be granted their insolvency license making them a licensed insolvency practitioner.

While the road to becoming an insolvency practitioner can be challenging, insolvency does offer a fulfilling career in a stable counter-cyclical industry which is often extremely rewarding.


About the author – Chelsea Williams is an experienced debt help adviser at Scotland Liquidators who specialises in the range of insolvency options available to companies and individuals in Scotland.

Dressing to Impress: Your Guide to Acing the Interview Dress Code

Securing that all-important job interview is a significant achievement, but what you do next plays a pivotal role in your success. Beyond preparing to tackle tough questions, making a stellar first impression through your appearance is crucial. The adage “Dress for the job you want, not the job you have” rings especially true here, underscoring the importance of presenting yourself appropriately. Let’s delve into how you can dress to impress, ensuring your attire speaks volumes about your professionalism and self-assurance.

Conduct Thorough Research

Preparation is key in all aspects of the interview process, including your attire. Investigating the company’s culture and dress code gives you valuable insights into how to dress. While it’s advisable to err on the side of formality, understanding the environment can guide your outfit choice. Don’t hesitate to inquire about the dress code when scheduling your interview, especially for roles in creative or start-up settings where the norm might lean towards casual.

Universal Dress Code Guidelines

Despite varying company cultures, certain universal standards should guide your interview attire:

  • Impeccability is Non-negotiable: Regardless of your outfit choice, ensure it’s clean, well-ironed, and free of pet hair or lint. These details might seem minor but they significantly contribute to the overall impression you make.
  • Choice of Attire: A business suit in neutral tones such as grey, navy, or black is always a wise selection. This can be paired with a crisp, clean shirt for a classic and professional appearance. Adding a pop of colour through accessories like ties or scarves can reflect personality, but it’s important to keep it tasteful and subdued. Whether opting for trousers, skirt suits, or professional dresses, sticking to primarily neutral colours is advisable. Finish your look with a smart blouse or jacket, and choose footwear that balances professionalism with comfort. Remember, accessories and makeup should be used to complement, not dominate, your overall presentation.
  • Maintaining Freshness: Personal freshness is key, and a light application of deodorant is essential to ensure you remain comfortable and odour-free throughout the interview process. However, when it comes to cologne, perfume, or any other scents, moderation is crucial. Go for the minimal fragrance to avoid overpowering smells, as strong fragrances can be distracting or even discomforting to some individuals.

The Fine Line of Expression

While personal expression through fashion is valuable, an interview may not be the best stage for bold statements. Loud patterns or overly bright colours can detract from your professional image. Go for attire that aligns with the company’s culture while staying within the bounds of professional decorum. Your goal is to be memorable for your qualifications and compatibility with the company’s values, not solely for your fashion choices.

Conclusion

We understand the profound impact that a well-considered outfit can have on your interview’s outcome. Dressing appropriately is a testament to your respect for the opportunity and your keenness to make a positive impression. It sets the stage for a successful dialogue, where your skills and personality can shine without being overshadowed by inappropriate attire.

In conclusion, your interview outfit is a critical component of your preparation. It conveys your professionalism, attention to detail, and understanding of the corporate environment. By following these guidelines, you equip yourself not just with the confidence to answer interview questions but also to make a powerful first impression that resonates with your potential employers.


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

Mastering the Art of the Video Interview: A Short Guide

In today’s digital age, video interviews have become the norm for many companies, offering a blend of convenience and efficiency. They eliminate travel costs and provide flexibility in scheduling, making them an attractive option for both employers and interviewees. However, it’s a mistake to view video interviews as less formal or serious than their in-person counterparts. To ensure you present yourself in the best light, here are some essential tips for navigating a video interview successfully.

Essential Preparation Steps

Preparing for a video interview involves more than just brushing up on common questions and answers. The technical setup requires special attention:

  • Software Familiarity: Confirm the video platform (e.g., Teams, Zoom, Skype, Google Hangouts) in advance. Download the necessary software, create an account if you don’t have one, and familiarise yourself with its features.
  • Technical Check: A trial run with a friend or family member can help ensure your microphone, camera, and speakers are functioning correctly. This step also allows you to adjust the lighting and camera angle to avoid any unflattering shadows or angles.
  • Stable Internet Connection: Verify your internet speed. A lagging or unstable connection can disrupt the flow of the interview and create a negative impression.
  • Optimal Environment: Choose a quiet, well-lit setting where you won’t be interrupted. Ensure your background is neat and professional. The camera should be placed on a stable surface at eye level to simulate direct eye contact.

Dressing the Part

The adage “Dress for the job you want” still applies in a video interview:

  • Business Casual: Go for a professional, business-casual attire. Even though you’re not in the same room, how you present yourself visually speaks volumes.
  • Colour Considerations: Avoid wearing white, which can glare, and red, which may appear distorted on camera. Patterns like checks and stripes should also be avoided as they can cause visual distortions.

Documents and Cheat Sheets

  • Preparation Materials: Have your CV and other relevant documents within reach. This allows you to reference them seamlessly during the conversation.
  • Cheat Sheet Advantage: One benefit of video interviews is the ability to keep notes and prepared answers nearby. Write down key points or answers to anticipated questions. Place these notes in a spot that’s easy to glance at without breaking eye contact with the camera. This could mean sticking them to the side of your monitor or having them open on your computer.

Conclusion

While video interviews may seem daunting, they present an excellent opportunity to showcase your professionalism and preparedness. By treating the interview with the seriousness it deserves and ensuring your technical setup is flawless, you can make a strong impression. Remember, your goal is to make the interviewer’s experience as positive as possible. A smooth, well-executed video interview can significantly boost your chances and set you apart from other candidates.

At Levitate Recruitment, we’ve seen firsthand how a well-prepared candidate can turn a video interview into a powerful tool for advancing their career. Whether you’re an insolvency, restructuring, or audit professional looking to explore new horizons, mastering the video interview is a critical step on your path to success.


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

 

The Dangers of Starting Your Job Search Before Resolving Internal Issues

In the landscape of career development, the decision to transition to a new job often comes with its share of contemplations and dilemmas. The precursor to this decision, as we’ve discussed in a previous post “From Breakup to Makeup: Rekindling Your Relationship with Your Job” (read here), lies in the power of internal resolution. But what happens when we rush towards a new opportunity without fully exploring solutions within our current role? The implications can be far-reaching, affecting not just our present circumstances but our professional reputation and future opportunities.

The Implications of Unresolved Issues

Embarking on a job search without first attempting to resolve existing issues can lead to a cascade of consequences:

  • The Time Investment: The job search process is intensive and time-consuming. If a resolution within your current role is possible, time spent exploring external opportunities might end up being unnecessary. This realisation, especially after receiving job offers, can lead to feelings of regret over wasted effort and resources.
  • The Ultimatum Approach: Resolving issues only when you’re at the brink of leaving places your employer in a reactive position. While it might yield a short-term solution, it sets a precedent that could harm your professional relationship. Will you need to signal your exit every time you need a change or improvement? This strategy is unsustainable and can erode trust and satisfaction in your role.
  • Potential Bridge Burning: The job search process involves multiple stakeholders, including potential future employers. Going through the motions of interviews and negotiations only to use an offer as leverage for a better deal at your current job can alienate those companies. They may feel used, damaging your reputation in the industry and closing doors to future opportunities with those organisations.

A More Constructive Approach

The journey towards resolving workplace issues internally before considering a move is not just about maintaining professional etiquette; it’s about fostering a culture of open communication and mutual respect. It’s about allowing your current role and employer to address your concerns, which might lead to a more satisfying and enriching professional experience without the need to transition.

  • Reflection and Communication: Reflect on your core reasons for considering a move. Is it salary, progression, work-life balance, or perhaps the work culture? Engaging in open dialogue with your employer about these issues can sometimes lead to surprising resolutions that make a job search unnecessary.
  • Professional Growth Within: Many times, the desire for a new job stems from a need for professional growth or new challenges. Explore whether such opportunities exist within your current organisation. You might find unexplored avenues for advancement that align with your career aspirations.
  • Building a Legacy of Professional Integrity: Navigating internal resolutions before jumping ship demonstrates a commitment to professional integrity. It shows future employers that you value resolution and loyalty, traits highly sought after in any industry.

Conclusion

The decision to leave should come after all avenues for resolution have been explored internally. This approach not only ensures that you’re making a move for the right reasons but also preserves valuable professional relationships and your reputation in the industry. Remember, a well-considered decision, rooted in clear communication and genuine attempts at resolution, paves the way for a more fulfilling career trajectory, whether it leads you to new ventures or deeper engagement with your current role.


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

Make your Career a Journey: Exploring International Career Moves

In an increasingly globalised world, taking your professional career abroad is more tantalising than ever, especially for insolvency, restructuring, and audit professionals. Locations like the Caribbean, Australia, New Zealand, and the Channel Islands offer unique opportunities and experiences. However, embarking on such a journey requires careful consideration and thorough research.

Pros of Making an International Career Move:

  • Professional Growth: International experience is highly valued and can significantly enhance your resume, offering you a competitive edge in the job market.
  • Cultural Exposure: Living and working in a new country enriches your personal and professional life, broadening your perspectives.
  • Networking Opportunities: Building a global professional network can open doors to unforeseen opportunities and collaborations.
  • Quality of Life: Many seek international moves for the promise of a better work-life balance, particularly in locations known for their scenic beauty and relaxed lifestyle.

Cons to Consider:

  • Cultural and Professional Adjustments: Adapting to a new work culture and professional practices can be challenging and requires flexibility and open-mindedness.
  • Regulatory Hurdles: Visa requirements and recognition of qualifications can present obstacles.
  • Personal Sacrifices: Moving abroad often means being far from family and friends, which can be a significant emotional consideration.
  • Financial Implications: The cost of relocation and the economic stability of your chosen location should be thoroughly researched.

Before You Leap: Research Tips

  • Understand Visa Requirements: Each destination has specific visa requirements for working professionals. Understanding these requirements is crucial in planning a successful move.
  • Evaluate the Job Market: Research the demand for your skills and expertise in the desired location. Websites, professional forums, and specialist recruitment agencies (Levitate Recruitment) can offer valuable insights.
  • Consider the Cost of Living: Ensure your potential earnings will support your lifestyle in the new country. Consider housing, healthcare, education, and daily living expenses.
  • Cultural Fit: Investigate the cultural norms and work-life balance in your potential new home. Will it suit your personal and professional style?
  • Professional Recognition: Check if your professional qualifications are recognised or if you’ll need additional certifications. 

Preparing for Your Move:

  • Networking: Connect with professionals already working in your target location. They can provide firsthand insights and advice.
  • Financial Planning: Save and plan for initial expenses. Consider the cost of living adjustments and any potential gaps in employment.
  • Embrace Flexibility: Be open to starting in a role that might not be your dream job but serves as a valuable stepping stone.

Conclusion:

An international career move can be a life-changing adventure, offering unparalleled professional and personal growth opportunities. However, success in this endeavour requires thorough preparation, from understanding visa requirements to assessing the professional landscape. For insolvency, restructuring, and audit professionals eyeing the Caribbean, Australia, New Zealand, or the Channel Islands, the world truly is your oyster. With the right approach, you can turn the dream of an international career into a rewarding reality.


If you’re contemplating an International or local career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

 

Finding your perfect match: Targeting the Job That’s Right for You

Deciding to change jobs is a significant moment in anyone’s career, especially when you realise that your current position or firm can’t provide what you’re seeking for your professional growth. Finding and securing the job that’s truly meant for you requires more than just luck; it requires precision, understanding, and a bit of strategy.

Identifying Your Professional Desires

Before you set out on your job search, take a moment to reflect on what’s crucial for you in your next role. Consider what might be lacking in your current position: Is it growth opportunities, a more suitable company culture, or perhaps the scope of work? Pinpointing what you want to change is the first step in seeking what will satisfy you in a new role.

Thinking Long-Term

It’s easy to focus on the immediate benefits of a new job, but your career is a marathon, not a sprint. Your longer-term aspirations should guide your job search. Where do you see yourself in five or ten years, and what kind of role will help you get there? Thinking ahead can help ensure that your next move is not just a stopgap but a stepping stone to bigger and better achievements.

Weighing Your Priorities

When considering a career move, several factors come into play: salary, role and responsibilities, job title, and the type or size of the firm. It’s essential to order these in terms of importance to you. For some, a higher salary might be crucial, while others might prioritise the role and what it entails. Understanding your priorities helps in filtering out opportunities that don’t align with your career goals.

Being Open to Possibilities

The ideal job might not always be with the firms that are household names. Sometimes, lesser-known companies offer incredible growth opportunities, unique cultures, and roles that big-name firms can’t match. Be open to exploring these options. Attending meetings and interviews with various firms allows you to gather firsthand information about what they offer, directly “from the horse’s mouth.”

Navigating Your Job Search with a Specialist Recruiter

Once you’ve honed in on what’s crucial for your next role and how it fits into your broader career goals, partnering with a specialist recruiter becomes a pivotal step in the journey toward your ideal job. A specialist recruiter doesn’t just send your resume to potential employers; they become your career advocate, offering tailored advice and access to opportunities that align with your professional aspirations. Here’s how a specialist recruiter can transform your job search:

  • Expert Guidance: A specialist recruiter understands the ins and outs of your industry. They can provide invaluable insights into the market, helping you to navigate the landscape more effectively. This includes identifying roles that match not only your skills and experience but also your career ambitions.
  • Access to Hidden Opportunities: Many of the best opportunities never make it to job boards. Specialist recruiters have established networks and relationships with key employers in your field, providing you with access to unadvertised roles that could be your perfect match.
  • Personalised Approach: Unlike general job applications, a specialist recruiter will work closely with you to understand your priorities, strengths, and the kind of company culture you thrive in. This personalised approach ensures that you’re matched with roles that genuinely fit your career path and personal goals.
  • Interview Preparation: Beyond basic interview prep, specialist recruiters can offer insights into the specific company’s culture, the interviewers’ expectations, and how to effectively communicate your value. This bespoke preparation can significantly increase your chances of making a lasting impression.
  • Negotiation and Advocacy: When it comes to discussing offers, a specialist recruiter can advocate on your behalf, ensuring that you receive a package that reflects your worth. Their expertise in negotiation can often result in better terms than you might secure on your own.

Partnering with a specialist recruiter is about more than finding a new job; it’s about strategically advancing your career with guidance from someone who knows your industry inside out. They’re your partner in not just finding a job but in crafting a career that’s as fulfilling as it is ambitious.

Conclusion

Finding the job that’s right for you requires knowing what you want, understanding where you’re headed, and being open to the myriad ways to get there. With a clear vision, an open mind, and a determined pursuit, you’re not just leaving your career to chance—you’re actively shaping it to be as fulfilling as possible. Remember, the best career move is one that not only meets your current needs but also propels you toward your ultimate professional goals.


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

 

From Breakup to Makeup: Rekindling Your Relationship with Your Job

One of the first questions I ask candidates is why they are looking to make a move. After listening to their reasons, it often becomes apparent that the issues leading them to consider a departure could potentially be resolved with internal conversations. Many candidates start to explore new opportunities before assessing whether their current grievances can be addressed. It’s a common scenario that highlights a critical aspect of career navigation—communication.

 

Candidates frequently express that they love everything about their job except for one specific issue. This could range from feeling underpaid, sensing a lack of progression or variety in their role, or even personal disagreements with a colleague. These are significant concerns that can impact job satisfaction and overall happiness at work. However, they are not always insurmountable.

 

As a recruiter, the objective isn’t merely to facilitate career moves. As a specialist in insolvency and accountancy practice a crucial part of my role is to ensure that candidates are making the best decisions for their career paths. If the best place for a candidate is within their current role, then I will advise them accordingly.

 

I’ve had two candidates recently who, following our discussions, acted on my advice to address their concerns internally. They later returned to me with news that they had successfully resolved their issues. This outcome is not uncommon and serves as a powerful reminder of the potential benefits of open dialogue within the workplace.

 

Strategies for Overcoming Job Dissatisfaction

Identify the Core Issue: It’s essential to pinpoint exactly what’s leading to your dissatisfaction. Is it the salary? Lack of growth opportunities? Or perhaps it’s the work environment? Identifying the root cause is the first step toward addressing it.

Open Communication: Approach your manager or HR department to discuss your concerns. Preparation is key—outline your points clearly and suggest possible solutions or compromises. Remember, it’s a discussion, not a demand.

Seek Progression Opportunities: If you feel stuck in your current role, inquire about potential training, mentoring, or projects that could expand your skills and responsibilities. Expressing your desire to grow within the company can open doors.

Address Interpersonal Conflicts: If your dissatisfaction stems from personal conflicts, consider mediation or a facilitated discussion with HR. Workplaces are communities, and like any community, conflicts may arise but can also be resolved through communication.

Negotiate Your Salary: Feeling underpaid can significantly impact your job satisfaction. Research industry standards for your role and prepare to discuss your compensation. Be ready to highlight your contributions and achievements. Utilise a specialist recruiter in your industry to understand the current market rates.

Consider Flexibility: If a lack of variety is the issue, propose taking on different tasks or projects. Sometimes, the solution could be as simple as diversifying your workload.

 

Why Communication is Key

Many concerns that lead individuals to consider leaving their jobs are, at their core, communication issues. Whether it’s not feeling heard, valued, or understood, the gap often lies in unexpressed expectations or needs. By initiating conversations, you’re not only addressing your current dissatisfaction but also paving the way for a more open, inclusive, and satisfying work environment.

 

The Importance of Resolving Concerns Before Seeking a New Role

Before embarking on the process of looking for a new job, it’s crucial to exhaust all avenues for resolving existing issues within your current role. This pre-emptive approach not only provides clarity on whether the grass is genuinely greener elsewhere but also prevents the potential for regret. Imagine going through the exhaustive process of job hunting, only to find that a simple conversation could have addressed your concerns, rendering your search unnecessary. More so, resolving issues internally first can provide a strong foundation if you do decide to leave, ensuring you’re moving forward for the right reasons, rather than escaping unresolved problems. This strategic step can transform your career path, making each move a positive leap towards your ultimate career goals.

 

Recruiters as Career Advisors

The role of a recruiter extends beyond matching candidates with job openings. We’re career advisors, and part of that role involves helping candidates navigate their current roles as much as finding new ones. Sometimes, the best move for your career is to stay put and grow within your current firm.

 

In conclusion, before deciding to leave your job, consider the potential of a ‘makeup’ with your current role. Assess whether your issues can be resolved through internal channels. Remember, a successful career is not just about the work you do but also about how you navigate challenges and seek solutions. If, after exploring these avenues, you find that moving on is the best option, then you can do so knowing you’ve made a well-informed decision. At the end of the day, whether you’re looking to make an immediate change or planning for the future, open, honest communication is often the key to unlocking your career’s full potential.


If you’re contemplating a career move and are open to discussing your options or want to get a feel of the market, I’m here for a straightforward, commitment-free chat. Send me an email at slowes@levitaterecruitment.com to arrange a call.

My views are based on my 17 years+ of recruiting for Accountancy Practice and Insolvency professionals.

For advice about your career options, speak to Scott Lowes at Levitate Recruitment, specialists in placing practice-trained accountants and insolvency professionals across the UK, and find the right role to suit your ambitions.

 

Insolvency and Restructuring Careers in the Caribbean: A Guide to Opportunities

You’ve spent the day working and learning on some of the most interesting and challenging assignments you’ve had exposure to. The sun is shining as you walk across the beach on your short commute home. Checking your payslip, you see that you have had zero tax deducted and start planning your weekend break in the states…sounds like a dream doesn’t it!

The reality is, that there are opportunities that will offer you all the above and much much more.

In the Caribbean and Bermuda, the Insolvency and Restructuring job market is as buoyant as it has ever been. There is a range of Restructuring Boutiques and Accountancy Practices across the islands actively seeking experienced Insolvency and Restructuring professionals to join their growing teams.

Key Locations

The main locations include;

  • Cayman Islands
  • British Virgin Islands
  • Bahamas
  • Bermuda

The islands are proud of their beautiful white sandy beaches, crystal clear oceans and diverse marine life. There is something for everyone; be it surfing, scuba diving, sailing snorkelling, sunbathing, sipping cocktails in stunning locations or sampling the unique and mouth-watering cuisine. The islands have rich multicultural populations with people relocating from all over the world to live and work in the Caribbean. With companies having to hire certain expertise from overseas, the islands have established expat communities always looking to welcome newcomers.

The islands boast an extremely buoyant tourist industry which adds further diversity and vibrancy. The tourism industry attracts considerable government investment in the islands’ infrastructure making the quality of life extremely high.

Companies actively organise and promote internal and external social events to ensure that their people integrate and settle well into island life.

The islands are well situated to allow easy travel to the US, Central and South America and the wider Caribbean region for short or long breaks.

For those with families, the islands have very low crime rates and offer a diverse and safe environment for children to grow and learn. There are a number of international schools providing a first-class education and an enriched environment to enhance and nurture personal development.

The islands offer something for everyone, whether relocating on your own or with a family.

What are the opportunities?

Companies looking to hire Insolvency and Restructuring professionals from overseas are well-known Big 4 / Top 10 International Accountancy Practices as well as Restructuring Boutiques and offshore specialists. Each offers a different infrastructure, culture and professional development to its employees. With the recent growth in the Insolvency/Restructuring markets offshore, roles are available across all levels;

  • Senior Administrator
  • Manager
  • Senior Manager
  • Director

Job opportunities are offered on a permanent basis as opposed to a fixed-term contract. There is an expectation that those that relocate will eventually look to return to their home country or elsewhere, companies will typically look to retain someone for a minimum of 2 years.

Although many relocators may initially approach these moves with a 2-year timeframe, a significant number have remained for many years longer. A high number of Insolvency Partners and Directors across the firms in the Caribbean initially made the moves as Seniors or Managers, which demonstrates how you can achieve a high level of career progression coupled with a great quality of life.

The variety of work

Due to the nature of most offshore locations, a large percentage of the insolvency work comes from the financial services industry. The source of work can come from a range of companies that operate in multiple jurisdictions and include; Hedge Funds, Captive Insurance and Reinsurance companies as well as International Business companies.

There is a mix of formal insolvency, advisory, investigations and forensic work being undertaken, and you can expect your caseload to include a mix of;

  • Voluntary Liquidations
  • Compulsory Liquidations
  • Contentious cases
  • Cross-border insolvency
  • Receiverships and administrative receiverships
  • Business and Liquidity Reviews
  • Multi-faceted litigations,
  • Investigations, Forensic and advisory engagements of all types.

The scale of the work can range from the millions to the billions. The assignments will include a lot of litigation work based on the size of the projects and are at the cutting edge of cross-border insolvency.

Requirements

Due to the nature of the work, these projects will take you all over the world. It is not unusual to have assignments that have assets in the UK, US, Russia, South Africa, Australia, France and many other locations.

Based on work permit requirements and typical local insolvency/restructuring experience in the country someone is relocating from, companies are typically seeking insolvency professionals from the United Kingdom, Ireland, Australia, New Zealand, Canada and the US.

Alongside several years working in an insolvency/restructuring position, a formal accountancy or insolvency qualification is required. These include; ACA/ACCA/CA/CPA or JIEB. In some instances, the CPI qualification may be considered.

The process

The interview process is relatively straight forward with most companies carrying out 2-3 interviews before making an offer. Interviews are mainly conducted by phone or video conference. In some instances, there may be face-to-face interviews.

The process from the first interview to starting the role could be between 2 and 4 months. Notice periods play a big factor, and we would always advise you not to hand your notice in until your work permit is confirmed.

Salaries are very competitive and depending on location will be tax-free with excellent benefits. To assist you with your relocation, companies will provide you with work permit sponsorship, flights, temporary accommodation upon arrival and in some instances; 2-4 weeks’ car/moped hire and an interest-free loan to help you settle in.

As with anything, there are always negatives that may not be for everyone.

The cost of living can be considered high due to many items being imported, however, the level of salary and the fact they are tax-free (or low tax) more than compensate for this.

Another thing to consider is that due to the tropical nature of the islands, they do have their fair share of hurricanes and tropical storms, though the islands are well prepared and equipped for these.

In conclusion

A career move to the Caribbean/Bermuda can provide you with an excellent platform to develop your professional and personal development with a stable work/life balance in a tropical environment.

An offshore job market is an exciting place for insolvency and restructuring professionals at present. It offers the opportunity to work on complex, multi-faceted insolvency cases and provides those who relocate the chance to travel, experience new cultures and build new friendships in some of the most beautiful locations in the world.

*The Channel Islands are also another location to consider if you are looking to take your career offshore.

If you would like to discuss insolvency/restructuring opportunities in the Caribbean, please do not hesitate to contact me – slowes@levitaterecruitment.com

    Contact///