Employment FDilemma

secretposter

Hi there, I am a new poster to the forum, although I have been an observer for quite some time. Firstly, I hope this is in the right section, if not I apologise.

I am looking for some advice. I am a 24 year old who graduated from Uni 2 years ago, currently employed in a trainee accountant role and earn a very low salary of around £16300 a year. I have been working in this job only around 6 weeks and I cannot stand it. I dislike everything about it: firstly the pay is a real sickner for me as many of my friends are earning in the late £20 k to £30 k region who are of a similar intelligence/ Qualification. Secondly the atmosphere in the office I work in is unbearable- nobody says a word all day and people come and go without even saying "morning" etc. This is not something I'm used to as my previous role (fixed contract) was very lively and sociable, which meant I enjoyed going to work. Thirdly I feel I am also very overqualified for this role. I had 4 interviews for jobs in accountancy - 3 were £22-25K and this one, the only one I was offered. Nobody else possesses a degree and the tasks I'm being given are very menial. To begin my ACCA or CIMA studying, I must work here for 6 months first as it's some sort of probation period I assume.

The dilemma is that I have been approached for interview by 2 separate departments of a leading bookmaker, to work as a sports trader. For me this is a dream job as it combines 2 of my favorite things: sports and betting. I applied for the job a while ago and forgot about the application to be honest. I applied for the role of "football trader" but due to my covering letter, I was also told I would be interviewed by American Sports team as I run an NBA predictions page with around 1000 followers. The problem is, I have found myself in large amount of debt (circa 5k) partly due to some silly gambling I have done over the past couple of years. This is CC's, borrowed money off family and even lately (ashamed to say it) payday loans (Around £700). Now before I get a torrent of abuse for taking out Payday loans and gambling money I really couldn't afford to lose, I am well aware how stupid my actions have been and this is why I am here looking for advice.

The dilemma is: do I continue with my current job- lowly paid, which would lead me to struggle to pay off my debts any time soon, qualify for my accountancy qualification (roughly 3 years). On the one hand I hate this job and my salary, I am not earning enough to effectively service this debt.

Or....

Do I go for the trader job (I am fairly certain I will get one as one of my best friends does the same thing at another bookmaker and the job sounds right up my street). Here I will earn roughly £24000 a year plus bonus. £8000 a year more than I am currently on, however in 3 years I may still be on this salary rather than a potentially higher salary as an accountant. Also, I have a bad history of gambling and have been bailed out numerous times over the years financially. Would working for a betting company be too much temptation, or would it in fact show me the seedy side of gambling that I need.

I have thought many times about walking out from my current job as I hate it, but would I be throwing away a good opportunity to become an accountant were I to begin employment at the betting company.

Thanks for reading. I'm sorry it's a bit jumbled. I would appreciate any advice.

cazziebo

Only you can decide and all anyone else can do is give their opinions. FWIW, here's mine! (and only you can judge the strength of the temptation)

You're only 24. You have an opportunity to be a qualified accountant in 3 years. At 24, three years is not a long time. Accountancy qualifications can be viewed as a passport that will open so many doors. It might be a crap place to work but focus on getting the qualification and it will pass more quickly than you might think. You don't have to be an accountant - there are many roles open to people with accountancy qualifications.

The sports trader role might sound good, but you've already identified that it's unlikely to lead anywhere.

Are the firm paying for your training and exams? If so, watch out for any claw back in the contract (i.e. leave within a certain time and you have to reimburse any costs)

Best of luck with whatever you decide

Laurajo_2

Accountancy firms are notorious for offering low wages to trainees - at two years experience and AAT qualified, I was on 15k....
I felt very much like you for the fist eighteen months or so...as the most 'junior' member I was doing all the rubbish tasks, a lot of them not really related to the job and of no practical use. It's a sad fact that in the accountancy sector everyone seems to really look down on and be unsupportive of juniors.
I also felt I wasn't fitting in and was constantly scouring the job pages online and felt like I was seriously undervalued.
I stuck it out and as I became more experienced and was valued more as a member of the team, the whole thing became a lot more enjoyable and giving that my salary has more than doubled in the last seven years, I am really glad I stuck it out and got my qualifications. For a long while I was earning less than my peers, however whereas their wages have been pretty static, I've had several big bumps.

With a history of gambling issues, I'd be worried about such immersion into that side of things.

Only you know what is the right thing to do though, but personally I think six weeks is too short a time to walk away from what could be a very promising career.

Is it the work you dislike or the environment? Remember, nothing is tying you to that particular firm forever.

Jonboy_1984

Low wage and menial tasks are common for first couple of years unless you end up on a lucrative graduate scheme at an Auditor (which then gives you pressures such as risk of immediate dismissal if you fail a professional exam at first sitting...).

Something to bear in mind is if you end up with an IVA, DMP or BR you would need to notify ACCA or CIMA before membership (or if it happens once you are a member).

http://www.cimaglobal.com/Members/Members-handbook/Conduct-and-oversight/

http://www.accaglobal.com/en/help/membership-b.html

AP007

Jonboy_1984 wrote: »

Low wage and menial tasks are common for first couple of years unless you end up on a lucrative graduate scheme at an Auditor (which then gives you pressures such as risk of immediate dismissal if you fail a professional exam at first sitting...).

Something to bear in mind is if you end up with an IVA, DMP or BR you would need to notify ACCA or CIMA before membership (or if it happens once you are a member).

http://www.cimaglobal.com/Members/Members-handbook/Conduct-and-oversight/

http://www.accaglobal.com/en/help/membership-b.html

Depends where you are working. In 1996 I was on £16k with 5 years experience in accounts. Seems very low when I think of it now but it was a good salary. In my first accounts role I was doing payment runs and reports for management plus took on extra work. A job is what you make it really.

Annisele

secretposter wrote: »

Also, I have a bad history of gambling and have been bailed out numerous times over the years financially.

I think that sentence alone is a reason to stay far away from jobs in bookmakers. It would be so easy for you to convince yourself that the job had given you some sort of special insight into the world of betting, and that as a result you could guarantee you'd win...and you'd be very wrong.

You seem to be looking at this as a straight choice between "current job" and "bookmaker job". It isn't. Really it's a choice between "current job" and "anything else that you can do that pays enough money for you to live".

Personally I think you should stick out the accountancy. Junior roles often are pretty miserable at first, but once you're qualified your earning potential will go up a lot.

marybelle01

Just an opinion, but "one of your favourite things is gambling", and you have debts you cannot pay because of gambling in recent times - both of which suggest you are still a problem gambler. In your shoes the last place that I would think was a good place to work would be anything to do with gambling. Nobody gets over an addiction that easy or that quickly, and it is an addiction because you made a series of poor decisions that landed you in bad debt when you knew you could not afford to lose the money you were betting. One of an alcoholics favourite things is alcohol! You are young, you have the chance of a bright future if you work at it, a family and lots of other good things. But honestly, if you think you have difficulties now, all you need is just to place a few more bets... It is easy to throw away your life on an addiction. You know you can control it, it won't get away from you and you will never.... except you will. Do not take the risk.

secretposter

Thanks for the advice so far. I am at work now and I literally cannot stand it, it's hard not to get up and walk out. Only thing stopping me is these debts. I have never despised a job so much and it's really got me thinking, maybe accountancy is not for me? Surely I would be better to spend 8 hours a day doing something I enjoy?

heretolearn_2

I think it would be very dangerous for you to move into an environment involving gambling. You got addicted - you've managed to pull back out of that before it caused you too much trouble (you have debts but not at the level some gamblers get to). working there would be like an alcoholic going to work in a pub. You need to stay right away from temptation.

Speaking as a Partner in an accountancy firm:
On your current job, if your firm is going to pay for your ACCA training and support you with study time etc before exams, you've got a pretty good entry position into accounting, and the total value of that package adds up to a lot more than the salary you see, so I wouldn't say you actually are that far behind your friends when you look at it that way. Plus you are being set up for a career with good opportunities once you qualify.

Re the work - please get out of that 'I'm a graduate so I'm special and shouldn't have to do the boring crap work other people do/should be paid more than non-graduates'. It's insulting to the people you work with, frustrating to employers, and is generally a very bad attitude that could damage your career. I've had it off people I've employed and they haven't lasted long. Entry level jobs are boring. Especially in accounting. Being a graduate doesn't make you better than your colleagues and even if you are an accounting graduate, to be honest, you are less use right now to your employers than someone with, say, a level 2 AAT and work experience in any field. Again I say that from experience.

You didn't get the other higher paid jobs you were interviewed for because other people were more suitable for the firm, maybe from qualifications or experience. But you got this job. Do you know how lucky you are? Do you understand how much competition there is in accountancy? If I tell you that every time we advertise even for a receptionists role at our firm (just a bog standard local firm, not one of the big ones) we get people who are fully qualified accountants applying - where they have passed the exams but have no practical experience and no-one will give them a job - just desperate to get their foot in the door any way they can. Last time, we even had someone who was fully ACA qualified PLUS had an MBA applying for a part-time receptionist role. Where you are, you are going to get your qualifications plus real work experience and you'll be fantastically placed to move on.

But you have to be prepared to start at the bottom with all the crap work, wherever you are. If you are too proud to do that, give up and do something else. The interesting stuff will only come later, and a lot of it is very interesting. But you have to be prepared to do the groundwork to start off.

Re not liking the firm. Yeah, it's nice to get on with your colleagues and have a fun time at work. But that's not reality in a lot of jobs. The deal is 'you do this work, we pay you this money'. That's it. That's why 99% of people go to work. Not to be sociable, not to make friends, not to have fun. It's called work for a reason. If your firm isn't actually making you miserable with bad employment practices, bullying, whatever, then that is as good as you can reasonably expect, as that's ok, and work isn't school or uni or funtime. If it's better than that, it's a bonus. You go to work to earn money. That's enough of a reason.

Accounting takes a lot of concentration and long hours/often monotonous work. It obviously has it's upsides as well and some people love it. Accountants aren't generally known for being a lively bunch while they are working- it takes people who can knuckle down and focus 100% on what they are doing. We have a friendly atmosphere here, and you'll hear people having a chat and a laugh, and there is some socialising out of work, but most of the time it's quiet, head down, getting on with work. It's not the sort of thing you can only give part of your attention to. At certain times of year the stress and pace are tremendous and you need a bit of a workaholic attitude to survive it happily. Don't rush into a decision yet, that's my advice, wait and see how you feel after a few months.

Savvy_Sue

You could always start something by smiling at your colleagues and saying hello ... or bring biscuits in or make cakes or ...

marybelle01

secretposter wrote: »

Thanks for the advice so far. I am at work now and I literally cannot stand it, it's hard not to get up and walk out. Only thing stopping me is these debts. I have never despised a job so much and it's really got me thinking, maybe accountancy is not for me? Surely I would be better to spend 8 hours a day doing something I enjoy?

You are at work now? And you are browsing the internet forums and responding to posts? Do you know how dangerous that is? Even if you are using your phone or personal equipment, these things are noticeable and you are being paid to work; if you are using the employers equipment they can probably trace everywhere you browse and even what you type!

But I agree with Heretolearn - yes, it is awfully nice if you can spend 8 hours a day doing something that you enjoy provided that thing isn't something that you enjoy because you are addicted to it! And I think you are being wildly unrealistic expecting to get all the interesting work and be consdiered a key member staff when you have less than six months experience!