Is self-employment the better path for me?
I’m aiming to work in Accounting, specifically in tax, but I’m finding it challenging to secure a position as a career changer. Many job listings seem to have unrealistic expectations, such as demanding years of experience with specific software or expecting me to manage their entire operation for just $19 an hour. Even if I were to get a role at a major firm, the starting salary for new grads is only $55,000—essentially the same rate they offered 40 years ago.
I learn quickly and am considering whether I should set up my own practice and start advertising my services. It seems like many companies are struggling, resistant to change, and not investing in their own growth.
Am I being naive as a 35-year-old professional with significant experience in a different field, or do I have a valid point here?
One response
It’s understandable to feel frustrated with the job market, particularly when you’re transitioning into a new field like Accounting and facing unrealistic expectations from employers. Your experience in a different industry could very well bring unique perspectives and skills that would be beneficial in tax Accounting.
Self-employment could indeed be a viable route, especially if you have strong skills and the confidence to manage your own clients. Here are a few points to consider:
Market Demand: Assess the demand for tax services in your area or niche. If you believe there’s a need that’s not being met, starting your own practice could be successful.
Networking and Marketing: Building your client base will require networking and marketing efforts. Consider how you would reach potential clients – local businesses, individuals needing tax assistance, etc.
Licensing and Credentials: Make sure you’re aware of any certifications or licenses needed to operate legally as a tax preparer in your region. This can also help establish credibility with potential clients.
Financial Considerations: Self-employment comes with its own financial risks, and getting started may take time before you see significant income. Have a plan for how you’ll manage financially during the initial stages.
Experience and Skills: While self-employment may grant you the freedom to set your own rates and work how you want, remember that experience does matter, especially in a field like Accounting. You might still consider seeking part-time or freelance work in firms to build up your credibility and gain relevant experience while you establish your own practice.
Long-Term Viability: Think about your long-term professional goals. If self-employment fits into those plans and you’re passionate about it, it could very well be the right path for you.
In the end, if you feel that launching your own business aligns with your skills and passions, and you’re prepared for the challenges it entails, it could be a fulfilling and lucrative route. Just approach it strategically, and be open to adapting your plans as you learn more about the industry. Best of luck!