Is it better to work in the public or private sector? Public sector employers will look at candidates from the private sector, but it is less common the other way around. View the latest salary guide for recruitment insights, expected salaries and contract rates for professional roles in your region. In the public sector, the main focus is protecting quality of service. In the public sector you are less driven by top line growth, and more on controlling the cost base. In a competitive talent market, companies are unsurprisingly reticent to part with staff - especially if they are an integral part of the team. Not necessarily. In the private sector working environment is quite competitive which is missing in the public sector because they are not established to meet commercial objectives. Whether you need to find top talent or your next perfect job 4 MINS READ. What I would say is that decision making in the private sector is less risk adverse than in the public sector. The majority of Morgan McKinley’s private sector clients are reluctant to hire from the public sector. Either way, finance is a fantastic career. People work incredibly hard within both, and especially in teaching there is a lot of pressure on resources. My assessment of both systems. They are the two prime mediums for working and earning your … Ultimately, both employ very passionate people, trying to do their best for their stakeholders. decisions, but the public sector puts a greater emphasis on the final customer experience. In the private sector cuts do happen, but not with the regularity that the public sector has experienced in recent times. It has enabled me to re-establish a work-life balance, and it is interesting to use my private sector background within a public service organisation. Both sectors have the ability to move fast/slow.Are faster decisions made in the private sector? I left Babcock last year to join Aylesbury College as Finance Director.I didn’t initially set out to leave the private sector, but it has enabled me to re-establish a work-life balance. I started in the private sector, on the finance graduate scheme for a business called Courtaulds chemicals. On balance, I would advise to start in the private sector. In general Public Sector uses Seniority for promoting employees, however, merit cum seniority is also taken as a base for promoting employees. It’s important to understand the semantics here. The private sector are more open to risk taking. Both types of organisations have the capacity to make fast (and sometimes slow!) Accounting is a very popular course here at the college, and I would recommend it to anyone. To help shed some light, we asked John McGrath, a Finance Director with experience of private organisations Babcock International Group, Sainsbury Plc and Diageo, and current Finance Director of public sector organisation Aylesbury College. A…. However, pay and perks may not be that attractive in comparison to private sector companies. From there I progressed into management positions at Diageo, Sainsbury’s, and Babcock International, where I was the Finance Director of a large business unit called Critical Assets. Competitive work culture with performance-based career growth and better pay in comparison to public sector companies. If you are going to become an FD, you need to understand the transactional side as well and the management accounting side. I didn’t initially set out to leave the private sector, but the opportunity here was too good to turn down. Either way, finance is a fantastic career. John’s experience provides invaluable insight into two very different career paths. Finance professionals get involved in so many different areas of the business, it is a very diverse career choice.If you are going to become an FD, you need to understand the transactional side as well and the management accounting side. Most people have an opinion, but very few are qualified to comment. You haven’t been made redundant. The offices here at the college are very modern, whereas during my time at Babcock I worked onsite at Heathrow Airport…in what was essentially a bunker at the end of the runway! Strangely, despite working in some fantastic buildings/locations, that building at the end of Heathrow runway was one of the most enjoyable places I have ever worked, not because of the building, but because of the people. Spend the first year understanding the basic finance cycle, ideally within a service centre where you can get exposure to all areas. In many ways, I would argue that the physical environment doesn’t matter, and that it is the quality of the people that comes first. This…, Before you start preparing for a job interview, you need to understand what type of interview it is that you are preparing for. Equally, don’t underestimate the importance of working with people you enjoy. But there will also be less exciting days when you are doing the nuts and bolts of your role. Fill in your details in the form below and we will be in touch to discuss your hiring needs! During these times, your job satisfaction will come not from the job, but from working with your peers, and being part of a team. Both sectors have the ability to move fast/slow. Get in touch today and let us help you find your ideal job or find the perfect candidate, JOB SEEKERS | Is it a case interview? No. opportunity, we can help. There will be times when you are involved in exciting projects that give you enormous job satisfaction. Conclusion. It has had a huge impact, not least because the cuts keep coming. Public sector employers will look at candidates from the private sector, but it is less common the other way around. Start with the basics. How To Write A Job Advert That Will Boost Your, 4 Ways You Can Overcome Unconscious Bias In, Real Talk Series: An Interview With Dr. Steve, Autumn 2020 London Employment Monitor: Glimmer, COVID-19, The Ultimate Stress Test, Makes, How To Find A New Job After Being Made Redundant, The Different Types Of Job Interviews And What…. Accounting is a very popular course here at the college, and I would recommend it to anyone. From an accounting perspective, there are very few differences. Public sector vs private sector is basically differentiated by the nature of the ownership and their purpose of existence. After working in the private sector for over 25 years, I took up a senior position in the public sector last year, so I guess this article was always going to be written. Your job has. I spent my first few years learning the business, while covering all the major finance functions such as Purchase Ledger, Sales Ledger, Stock, etc. But is this fair?
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