Feeling stuck in my career and seeking advice. Should I pursue ACCA or enroll in a trainee program?
I’m a 27-year-old female with a 2:1 degree in Economics, which I completed at 24. Life has thrown me some challenges along the way—struggles with homelessness, caring for my sister, and the loss of my mum. I’ve accumulated 18 months of experience in commercial pricing, but after a company restructure, I was bullied out of that position. I’ve also worked as a client manager at a tutoring center, among other roles.
Currently, I’m not where I want to be in life and I’m eager to change that. While I enjoy Economics and considered pursuing a master’s degree, I worry about the niche nature of the field and the relatively low pay compared to finance. My next thought is to pursue the ACCA qualification, which could take up to three years and requires three years of relevant work experience as well as certain tasks that need to be signed off by a qualified accountant (like your manager). This brings me to my dilemma: I have an interview for a one-year fixed-term contract in pricing, which isn’t directly related to Accounting.
I’m weighing two options:
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Apply for trainee finance/Accounting roles now, which might fund my ACCA, or if not, I can self-fund. The salaries would be low, but I’m prepared to make that sacrifice. I have a freelance job that could supplement my income (I earned £5k in January and £3k in February), though it’s not stable. My partner has a well-paying job in banking and is supportive.
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Downside: I’ve been wanting to buy my social housing flat, rent it out, and move to a better area, but that goal may need to be postponed for now.
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Search for a finance/pricing role and self-fund until I pass the first stage of ACCA, then look to move roles.
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Downside: Many desirable finance positions expect candidates to have substantial finance experience or at least a CIMA qualification.
I’m leaning toward the first option, but I’d really appreciate your advice. I often regret my degree choice and I’m determined to avoid making mistakes moving forward. Navigating these decisions has been tough, especially since I lost my mum when I was just 16, and my family situation hasn’t been the most supportive. I feel behind and want to get to where I want to be. Thank you for your insights!
One response
It sounds like you’ve been through a lot and your resilience is commendable. It’s great that you’re thinking strategically about your career path, and it’s important to consider both your immediate needs and long-term goals.
Option 1: Pursuing trainee finance/Accounting roles while working towards your ACCA seems like a solid choice, especially since you’re willing to sacrifice some financial stability for your long-term career goals. Getting involved in the finance/Accounting sector early on will give you valuable experience that can help you complete your ACCA requirements. Plus, having your partner’s support may provide you with the financial cushion needed during this transition.
While it may feel like it’s putting buying your flat on hold, gaining relevant qualifications and experience could be an investment in your future. Once you have your ACCA, you’ll likely have greater earning potential and more opportunities, which could help you achieve your property goals afterward.
Option 2: On the other hand, finding a finance/pricing role and self-funding your ACCA could also be viable, but as you highlighted, many desirable positions may require qualifications you currently don’t have. This could limit your options and prolong the time it takes to reach your goals, potentially leading to more frustration in the long run.
Overall, I lean towards your inclination for Option 1. It allows you to gain experience, which is invaluable in finance and Accounting, while also working towards your ACCA. Just make sure to network and seek mentorship along the way to help guide you through this process. Remember, it’s okay to seek help and advice from professionals in the field, especially when making changes.
Take your time, and don’t forget to celebrate each small step you take towards your goals. You’ve overcome so much already, and this is another challenge you can tackle! Good luck!