Which Career?

donquine

One of the options you mentioned was accountancy, so I'll run through that one with you, as it's something I know about. Assuming you want to get back up to £75k+, you're going to need to go the chartered route into accountancy, which takes at least three years of full time relevant employment and studying. £75k can be achieved, but it's going to take you a long time to get to that level, particularly if you're outside London. Realistically, we're talking senior manager level for that kind of money.

It's also quite a stressful profession, with very busy periods at certain points in the year. I certainly wouldn't recommend accountancy as a relaxing occupation, but it is very kind to those who want to eventually go part time, for whatever reason. (Generally parents, but not limited to parents!)

Given that you are driven by money and how long it would take to retrain and build up experience to the point where you would be paid the amount you are after, I'm not sure a career change is the best idea. £75k at 34 is pretty decent money - I admit to knowing nothing about your industry. How much further can you go?

In your shoes, I think I would looking to make the most of my time outside of work - with your salary, you could afford some expensive hobbies, e.g. skiing if you're that way inclined - and sticking with the mundane job that pays well.

Best of luck with your decision. It strikes me this is a 'grass is greener' situation, where on the other side, the grass is in fact very pale indeed.

paddyrg

After getting out of freelance IT work, it has taken me 5 years to get back up to approx 50% of my former salary in a different industry - and that's because I got very lucky with the effective apprenticeship I managed to find. Fact is, very few jobs will pay £75k for low work/training burden.

lincroft1710

At age 34 on £75K, I'd be quite happy to get out of bed and go to work. So would a lot of people. The vast majority of the workforce can only dream of salaries like that. Your employer can obviously see your worth and abilities.

I doubt if you went into any of the possible careers you mention you'd see that sort of money before you're 50, You would be 12 to 15 years behind your contemporaries, starting on the bottom rung with possibly people younger than you almost at the top.

There is an old saying "The other man's grass is always greener".

stphnstevey

Thanks for all your feedback

Been looking into the accountancy-looks like I would have to be working for an accountancy practise for 3yrs before becoming qualified

Salaries look to be in this region

Salaries for trainee or part-qualified accountants may be between £18,000 and £24,000 a year.
Qualified accountants typically earn between £28,000 and £50,000.
Senior accountants in large private practices could earn up to £100,000

Does this sound right to any accountants?

TrixieB

Are you in London?

stphnstevey

TrixieB wrote: »

Are you in London?

No, why do you think they are London figures?

donquine

stphnstevey wrote: »

Thanks for all your feedback

Been looking into the accountancy-looks like I would have to be working for an accountancy practise for 3yrs before becoming qualified

Salaries look to be in this region

Salaries for trainee or part-qualified accountants may be between £18,000 and £24,000 a year.
Qualified accountants typically earn between £28,000 and £50,000.
Senior accountants in large private practices could earn up to £100,000

Does this sound right to any accountants?

A part qualified accountant could probably hope to earn in the region of £16k to £35k, with salaries around the £20k mark more usual. There is a premium for those who work in the Big 4 (i.e. PwC, Deloitte, KPMG and EY) and a further premium for those who work in London.

A newly qualified accountant would probably earn anything from £25k to £45k.

Earnings for qualified, experienced accountants could eventually reach £100k, yes, but that would be after several decades of experience! Bearing in mind how much money you earn now, I don't know how that sits with your expectations and plans?

Salaries range widely and your ability to command the higher end of those brackets will depend on your professional qualification(s), specialism(s) and region.

TrixieB

stphnstevey wrote: »

No, why do you think they are London figures?

London or the other biggest cities. Unless you are prepared to move to one of them there is no way you would earn anything like those figures.

Annisele

I just did a search on Reed for "Accountant" in London (salaries £22k to £88k) and "Accountant" within 30 miles of York (salaries £14k to £70k).

Very much a snapshot, with no filter for "is this a trainee role, is this management, is this even really an accountancy role". However, I can't see that you'd just walk into a job paying close to your current wage.

TrixieB

I know an accountant who is the senior tax manager - whatever that means I am not one myself! - and he has been qualified since early twenties, has been in the business 20 years and doesn't even break 28k yet. This is entirely due to his locality, a medium sized town.

You'd take having to work upto Patner to make your current wage.