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Hi all,
I am after some advice, I hope someone can lend a hand!
So I am in my late 20s. I did an Economics degree (2:2), but have embarked on an unrelated career in sales. I am now wanting to purse general practice accountancy, and have started self-studying ACCA. Due to financial reasons, I cannot afford to take an internship, so am studying the exams whilst keeping my current job. I am aware though that I require my 3 years experience, and this will likely involve a trainee position. So my questions:
1. Am I better off trying to get my exams (or at least most of them) under my belt first, and starting my experience at a later stage? Although I am prepared to start at the very bottom, I would prefer to study more to be able to come in at a slightly higher level – although I know I would still be looking at assistant and trainee positions regardless.
2. How easy is it to volunteer to get practical experience? Anyone done it? What would I be allowed to do as a part-qualified accountant without compromising compromising my professional integrity.
Comments would be really welcome
Hi,
I was a bit similar to you in that I started ACCA at age 30 and had to deal with a 2:2 degree and a large CV gap. You should be able to make your sales experience work for you though it will help you answer the core competences questions at interview such as (when have you worked part of a team?, give an advantage of when you have influenced someone? etc).
You will need to give good reasons why you want to be an accountant. It’s best if they are kind of individual to you and not template answers as people will see through this.
Why do you want to quit sales? The people I know in sales make quite a lot of money and need to be a lot less technically competent than accountants. However I respect that being successful requires a certain type of personality.
The 2:2 thing is an issue. It’s sad but it’s true, particularly if you got your degree from a good university and you see the standard of the degrees from some of the lower tier ones which are no more than glorified A-levels. I’d advise looking at smaller companies who will look at your application more personally although there is no downside to applying to the bigger ones also. You also may get questions like “you seem smart, why the 2:2?”. They probably know it’s because you were out drinking five times a week even in exam term but try to be prepared to answer this also.
To answer your particular questions:
1. No, don’t do more than the first computer based ones (F1-F3). Time is ticking and it will take you an absolute minimum of 4 years to be earning a good salary (£50k+) because the company will likely be funding your study also. Also it will make the exams easier as you will be able to see some of what you are studying in context.
For me I did a couple of ACA exams to help show my commitment to accountancy. It’s very possible to score 80%+ on the first few exams which will help impress potential employers.
2. You shouldn’t have to volunteer. It’s not media or anything like that. You can directly add value to someone’s business and should be rewarded for that. Find out a list of small accountancy practices in your area and contact them to see if you can work for them on Saturdays just doing their basic tasks. I managed to get someone to take me on on a zero-hours contract doing this (see they are not always bad…) and it helped me become familiar with basic accounting transactions and accountancy software.
Hi
I was starting off from non accounting background and from what i see now the best would be to get a trainee position with one of the Big 4- KPMG, Deloitte, EY etc that is the best start (no the way I went sadly )
you have good degree and some working experience so try and see if they take you on, you will possible take hefty pay cut at the start but after you’r done with exams and their training you will move on to 50k£ job mentioned above quite fast
otherwise , you have to start from the bottom in the industry but it is highly unlikely your training will match anything that you will get with Big4
minimum 4 years mentioned above is very optimistic and so is the salary I am afraid, unless it is assumed you will get excellent training, work hard, pass all exams first time etc
I wish you all the best, but manage your expectations, this career is very competitive and I need to admit from personal experience, it can be very unforgiving in situations such as yours
keeping fingers crossed for you and good luck!
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