ACCA members from the MESA region are some of the most optimistic in the world about their future career, as they see the rapidly evolving world of work as a sea of opportunity rather than risk.
A major new ACCA report, Career paths reimagined: The changing world of work, looks at the main drivers of change affecting financial professionals to 2035 – so powerful that they are transforming establish career paths.
‘Accountancy is being redefined,’ says the report’s introduction. ‘For those willing to seize the initiative, the future offers significant potential.’
The aim of the report is to provide professionals with the context they need to make decisions that are coming their way in the next few years. The report is part of a suite of resources that explores how careers in the accountancy and finance profession may evolve between now and 2035, and provides essential background for the Global Talent Trends report.
As part of the research, around 2,600 ACCA members, affiliates and future members, and 145 Approved Employers, were asked how optimistic they felt about their future career. While globally 54% said they felt either somewhat or very optimistic, there were marked regional variations. Across MESA, respondents were notably more optimistic about the future than elsewhere. (Tap or click on each tab for a regional comparison.)
The report examines the factors contributing to this optimism, informed by a series of roundtable discussions worldwide.
Those taking part in the roundtables in India, for example, described the country as being at a pivotal stage of economic expansion, creating demand for finance professionals. There was concern, though, that ‘producing large numbers of graduates does not necessarily equate to producing the right kind of professionals with relevant, up-to-date skills’.
From ladder to matrix
The erosion of the traditional, linear career ladder was a recurring theme throughout the research. In South Asia, half of survey respondents said that linear careers will be replaced either completely or to a significant extent in the next five to 10 years.
Instead, career paths are becoming more flexible (one participant in India used the term ‘squiggly’, while another said pathways were becoming more like a matrix than a ladder) and, as a result, individuals need to be more empowered and educated about making career decisions.
‘The ability to navigate multiple professional identities is increasingly seen as a strength’
Participants in the Pakistan roundtables noted the prevalence of portfolio careers where multiple roles are held simultaneously – partly through economic necessity and partly due to the evolving nature of work.
‘This approach is not unique to Pakistan,’ says the report, ‘but is particularly pronounced in contexts where the job market is competitive and opportunities for advancement within a single organisation may be limited.
‘The ability to navigate and integrate multiple professional identities is increasingly seen as a strength, enabling individuals to build resilience and adaptability.’
Global outlook
In the Middle East, the high degree of global mobility is seen as a defining feature of career paths. But here as elsewhere, traditional career models are being replaced with more flexible and dynamic career pathways. Over half (51%) of those surveyed from the region said that non-linear career paths would become a feature either totally or significantly within 10 years.
Across South Asia, 46% of respondents said that the lack of relevant opportunities was a barrier to career progression. ‘This underscores the importance of developing relevant, future-proof skills that enhance the qualification through continuous learning,’ says the report.
‘There is no one-size-fits-all path; it is all hyper-personalised’
The emergence of more flexible and personalised career paths, which are shorter term in focus and more adaptive to circumstance and opportunity, is a main message in the report. This means that careers are shaped by skills rather than titles, it notes, and that demands adaptability, curiosity and proactive career management.
‘There is no one-size-fits-all path; it is all hyper-personalised,’ said one roundtable participant. ‘Career steps are shorter; micro-qualifications open the door to the next role’.
Focus on skills
The report stresses that in this environment, ‘continually developing the right skills is essential’, and ‘the opportunities to grow and thrive have never been greater for those prepared to embrace change.
Respondents from all regions identified technology as the most significant driver of change in terms of career paths, so it is unsurprising that most agreed that enhancing their tech skills should be a priority: 69% of respondents in Pakistan and 74% in India, for example, said that AI and technology were the most essential skills for accountancy and finance professionals in the next five to 10 years, followed by 52% and 49% respectively who said that analytical skills were essential.
The report concludes that ‘by 2035, how we work, when we work, where we work and the nature of the work itself will all change. As with any long-term transformation, the pace of change may be gradual and not always immediately perceptible to us as individuals.
‘Those who appreciate and adapt to the changes will benefit from stimulating and rewarding careers. Careers will be flexible and dynamic – but the journey will definitely be worthwhile.’
More information
Find more regional insights from across the world. See also ACCA’s Accountancy Redefined initiative and changes to the ACCA qualification
