Self-Study on Strategic Papers
Hey everyone,
I’m down to my last four strategic papers, but I’m finding my current practice position isn’t ideal. The pay is quite low at £25K per year in the Midlands, and the firm is looking to downsize.
On the bright side, I do receive study support through Kaplan, and they cover the cost of my exams for the first attempt, which is a strong reason for me to stay. I’m considering a shift to an industry role but am aware that I would lose that study support.
Should I stay in practice for another year to qualify and then transition into a higher role in industry, aiming to move from Audit/Accounts Senior to Management Accountant? Or would it be wiser to make an earlier move into a lower-level industry position, with the hope of passing my exams independently and working my way up?
I genuinely believe that the support from Kaplan significantly increases my chances of qualifying.
One response
It sounds like you’re in a challenging position, but it’s great to see you’re considering your options carefully. Given that you’re down to your last four papers and have the support from Kaplan, sticking it out in practice for another year might be a wise choice. The benefits of having access to study support and exam fees covered can significantly help your chances of passing on your first attempt, especially as you’re close to qualifying.
If you can manage the low pay for a little longer while you complete your studies, it could pay off in the long run when you transition to a Management Accountant role with more competitive compensation. Additionally, qualifying will likely provide you with more opportunities and leverage when seeking positions in industry.
On the other hand, if you feel burnt out in your current role or if the downsizing situation is causing significant stress, moving into a lower position in industry might provide a fresh start. Just be mindful that this path may come with the challenge of self-studying while adapting to a new work environment.
Ultimately, if your goal is to maximize your qualifications and career growth potential, it might be best to ride it out a bit longer in practice. But trust your instincts—consider how you’re feeling about your current job and whether that outweighs the value of study support. Whatever you decide, make sure it aligns with your long-term career goals. Good luck!