I’m feeling a bit lost in my career path and need some guidance. I’m considering doing an ACCA or enrolling in a trainee program.
I’m a 27-year-old female with a 2:1 degree in Economics, which I completed at 24. My journey since then has been challenging, with personal circumstances such as homelessness, caring for my sister, and the loss of my mother. I’ve worked in commercial pricing for 18 months before being let go due to company restructuring, and I’ve also been a client manager at a tutoring center.
I’m not where I envisioned myself and want to make a change. While I enjoy Economics and have contemplated pursuing a master’s, the niche nature of the field doesn’t offer great pay, especially compared to finance. My alternative is to pursue an ACCA, which could take around three years, and I’d need three years of relevant work experience to qualify. Additionally, there are several tasks to complete that require approval from a qualified accountant, which adds to my dilemma.
I have an interview for a fixed-term contract in pricing, but it’s not closely related to Accounting. So I’m considering two options:
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Apply for trainee finance/Accounting roles now: This would allow me to pursue the ACCA, and I’m open to self-funding if I can’t find a role that covers the costs. Although this means I would likely take a pay cut, I have some freelance work on the side that has been bringing in decent income (5k in January, 3k in February), although it’s not stable. My partner, who works in banking, is also supportive financially.
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Downside: I’ve wanted to buy my social housing flat and potentially rent it out to move to a better area, but this plan may need to be postponed.
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Search for a finance/pricing role and self-fund the ACCA: I would pursue ACCA on my own until I pass the first stage, then look for a new job.
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Downside: Many desirable finance positions require prior finance experience or qualifications like CIMA.
Right now, I’m leaning towards the first option. I’d value any advice you can offer. I often regret my degree choice and want to avoid making any further mistakes. Losing my mother at 16 made it challenging to navigate these decisions on my own, especially since my family situation was difficult. I know I’m behind in my career, and I’m eager to get to where I want to be.
One response
It sounds like you’ve been through a lot, and it’s commendable that you’re taking proactive steps toward shaping your career path. Both options you’ve laid out have their pros and cons, and it’s great that you’re considering your priorities and available resources.
This option can provide you with the direct experience and mentorship you need to complete the ACCA effectively. Trainee roles typically involve tasks that will help you gain the skills required to pass the ACCA exams and complete the practical experience requirements. While the pay might be lower, since you have a freelance job and supportive partner, this can help buffer the financial strain. It’s also a great way to build your network in the finance sector, which can be invaluable for future opportunities.
Considerations: If you’re passionate about Accounting and find a supportive environment, this could be beneficial for your growth. However, be mindful of the delay in your other goals like buying a flat.
This route allows you to remain in a field you’re somewhat familiar with while attempting to improve your financial standing. While you might self-fund the ACCA initially, it gives you the flexibility to transition into a finance role later on once you have some certifications under your belt.
Considerations: You might face challenges getting into good finance roles without specific qualifications. Still, if you’re able to secure a role and demonstrate your capabilities, you might find it easier to fund your ACCA after some initial success.
Final Thoughts:
Since you’re leaning towards Option 1, I would recommend diving deeper into that path. The potential for long-term growth and stability in a career that excites you can be worth the immediate trade-offs. Consider your long-term goals and what will make you feel fulfilled: a solid foundation in a field you enjoy with a clear pathway to your desired career.
Also, don’t hesitate to seek mentors or networking opportunities in Accounting. This could greatly enhance your journey toward completing the ACCA and help you find a suitable position sooner rather than later. Lastly, remember that it’s okay to prioritize your mental well-being as you navigate these changes—taking one step at a time can lead to significant progress. Good luck!