Developing a career in accountancy - please advice

geek84

Hi Folks

I am coming towards the end of my accountancy AAT studies. I will probablyspend most of Xmas deciding what to do next in terms of whether or not to go onto do chartered qualifications such as acca, cima, cipfa, aca, icaew etc. Or,stop further study & try & gain employment armed with thisqualification.

However, it has already taken me 18 months to get to this stage and seriouslyconsidering whether or not I should spend another few years studying. On top ofthat, I am approachimg my mid 40s and thinking even if I do get qualified tochartered status after a few more years, nobody would want to employ me due tomy age. There is also the possibility that I may end up having to pay for theexams (if I decide to carry on).

So, at the moment I am completely confused as what to do next.

Would someone be kind enough to give me some valuable advice as to what thebest thing is to do?

By the way, if I do decide to call it a day after AAT, is an assistantaccountant the 'highest level' job role I could apply for?

Thanks in advance for your responses.

AP007

What accounts experience do you have?

Have you got AAT level 3?

If you have no work exoerience in accounts in your 40's you will find it hard to get a job in accounts and will prob have to start at bottom.

Carlos77

Your best bet is to try and gain employment with the AAT qualification, and depending on how you find it, you can study part time, or on evenings for further qualifications. My OH is currently working towards her ACCA qualifications, has just taken her P1 exam a couple of days ago, and its no walk in the park! She is also working within a small practice so is gaining the practical experience needed to become chartered. Its a long hard (and expensive if self funding) road ahead, but there is a big big difference in average wages, and a lot of potential for earning big money in the right company. As for your age, that won't necessarily put people off, a lot of the students on the course the OH is doing are in there 40's, I would do it part time as well as work though, as the experience is vital for the qualification.

persa

geek84 wrote: »

Hi Folks

I am coming towards the end of my accountancy AAT studies. I will probablyspend most of Xmas deciding what to do next in terms of whether or not to go onto do chartered qualifications such as acca, cima, cipfa, aca, icaew etc. Or,stop further study & try & gain employment armed with thisqualification.

However, it has already taken me 18 months to get to this stage and seriouslyconsidering whether or not I should spend another few years studying. On top ofthat, I am approachimg my mid 40s and thinking even if I do get qualified tochartered status after a few more years, nobody would want to employ me due tomy age. There is also the possibility that I may end up having to pay for theexams (if I decide to carry on).

So, at the moment I am completely confused as what to do next.

Would someone be kind enough to give me some valuable advice as to what thebest thing is to do?

By the way, if I do decide to call it a day after AAT, is an assistantaccountant the 'highest level' job role I could apply for?

Thanks in advance for your responses.

What accountancy experience do you actually have?

Further study will be useful, but only if you work at the same time. Some of the options you list require a training contract (e.g. ACA), so you will definitely be gaining relevant work experience whilst doing your exams, but some don't require a training contract (e.g. ACCA) and as such, you can study them whilst unemployed. That to me is the only bad idea being floated - you absolutely should not undertake more studies without getting more experience.

Some employers will not hire someone for an accountancy position without a particular qualification, but even if you have the qualification they want, you'll need to have some sort of experience too, rather than just being booksmart.

Exam knowledge gives you a basis for dealing with real life, but it doesn't really give you any commercial awareness. That's something you get from the work experience.

If you don't have any relevant experience, as stated, you are going to have to start at the bottom - whether you're a PQ AAT or fully qualified ACCA.

Carlos77

persa wrote: »

you absolutely should not undertake more studies without getting more experience.

Dont entirely agree on that one. The job market is very competitive at the the moment, studying an evening class for 1 exam, might give you the edge in applying for the junior/trainee jobs, as shows the potential employer your committed to follow this career path, and your actively doing something to help yourself rather than just solely job seeking. I wouldn't do full education to get there though

persa

Carlos77 wrote: »

Dont entirely agree on that one. The job market is very competitive at the the moment, studying an evening class for 1 exam, might give you the edge in applying for the junior/trainee jobs, as shows the potential employer your committed to follow this career path, and your actively doing something to help yourself rather than just solely job seeking. I wouldn't do full education to get there though

Why employ a part qualified individual with no experience over a complete beginner with no experience? Both are about as useful in the office, both are keen to learn - but the one with a part qualification is going to press for funding to complete that qualification and it may not be one that the employer wants to/is able to support. Plus the PQ one is more likely to want more money.

The market has always been tough for PQs, they never quite slot neatly into any particular box.

As the OP is about to finish off one entire qualification, I suggest her next qualification (if any) is one that an employer chooses on their behalf and is happy to pay for.

Getting work experience is crucial, the OP needs to focus on that.

geek84

Hi Folks

Many thanks indeed for your replies.

I have only 3 more exams to take before becoming AAT qualified. I paid for my studies through a training provider. It has taken me 2 years to get this far - I was unemploeed for quite a while, so managed to fit in about 3/4 hours study per day.

At the moment, I am thinking that if I has to do retakes at AAT level, then obvioulsy the exams at acca/cima level will be even harderr! And I am not getting any younger.

So, if you were in my shoes (mid 40s with a mortgage & family to support), what would you do? Apart from (say) an assistant accountant role, what other jobs could I apply for with an AAT qualification?

Are there any other qualifications which I could do which are at a slightly higher level than AAT but 'easier' than acca/cima? (I am only thinking of this in order to improve my chances of employment and career progression).

Thanks in advance for your responses.

jtr2803

persa wrote: »

Getting work experience is crucial, the OP needs to focus on that.

I 100% agree with this....


Hi Op, I don't normally post in this section and noticed your post is a few days old but hopefully this might be of use....

I (hopefully) sat my final ACCA exam a few weeks ago and have also completed my full AAT under the old syllabus. I started as a trainee accountant 6.5 years ago in my mid twenties and am now the group management accountant with a team of 10 under me.

ACCA is a heck of a lot harder than AAT and without some practical experience I would expect most candidates to struggle, having something to 'liken' the knowledge too has proved incredibly useful to me during exam preparation.

During my years I have recruited a number of junior and mid level staff at the two sites I manage, experience really is the key. I have had a full range of candidates apply, candidates who are part qualified ACCA but with no practical experience and candidates with no formal qualifications but years of experience. You have to really consider how you are going to market yourself in a very aggressive sector and how much, or little, you think you are worth. The issue that I have always had is that for 90% of the time, whoever I take on will need the same sort of training, regardless of their qualifications, so depending on the role on offer the decision may be dependent on other factors. Generally speaking, I am more than happy to take on accounts staff with no prior experience (3 of my current team had only office or retail experience previously) but then you have to position yourself with the right salary expectations.

One thing you need to strongly consider (and this is off record) but you need to market yourself as a long term employee. Very recently I interviewed for an accounts assistant post, no experience required as it was a junior position, and we had candidates who were almost fully qualified applying because they had the qualifications but no experience. I always edge on the side of caution because with 12-18 months of experience within the sector they are going to be looking for more than I can offer and I then have to go through a lengthy process all over again!

Do you know what sort of accounts job you would like? Do you want to progress further? I think you really may have to consider starting at the bottom, as an accounts assistant or purchase/sales ledger clerk. Having some previous office experience is always going to help too. Maybe try approaching a specialist Accountancy recruitment agency, they should be able to tell you about current market salaries and what you could realistically be offered, maybe that would help you decide?

Best of luck with your studies

jtr2803

geek84 wrote: »

Are there any other qualifications which I could do which are at a slightly higher level than AAT but 'easier' than acca/cima? (I am only thinking of this in order to improve my chances of employment and career progression).

Thanks in advance for your responses.

We always quote CIMA as the 'easy' option.....;) :rotfl:

geek84

Hi jtr2803

Many thanks for your advice.

robin_banks

geek84 wrote: »

Hi jtr2803

Many thanks for your advice.

Tbh geek you can't go far wrong with that post from jtr2803. Have you thought about what sector you want to work in?