Study for CIMA or go to uni?? advice needed!!
I am aged 20 working full time as an accounts assistant on 14,000 P.A.
I am AAT qualified and have no a levels, due to leaving school and going into employment.
I have now been working almost 4 years.
Upon completion of the AAT my employer stated that they were unwilling to fund additional training (I had asked for CIMA funding), so therefore I looked at my options.
I applied to university and have recently firmed Nottingham Trent to do accountancy and finance (uni choices were limited due to no A levels). I am exempt from the 1st year making it 2 years to complete, 3 years with a year work placement.
I have been saving for the last year, and am on target to save £8000 by September when my course starts. I will also qualify as an independent student which makes me entitled to maximum student finance.
I recently told my employer that I was looking at going to university. They have since come back to me with an offer to try and keep me there. They offered to raise my salary to £16,000 and fund half of CIMA, with the condition that CIMA is done in my own time.
Now I really can’t decide whether I should still go to uni or stay in employment?
I have been looking forward to going to university, mainly due to the social side and due to the fact that you need to have a degree to get a graduate job. After 4 years working full time, I feel that I will thoroughly enjoy it at university and it will be a great experience. I will also have enough money to see me through the 2 years.
I don’t want to regret not having the experience and the opportunity to make new friends. I feel like I missed out on this as I didn’t go college.
My only concern is that I won’t get a graduate job and end up working for less than I earn now, or worse, no job! Hopefully my 4 years work experience, AAT and a degree would help me stand out though!
If I stay at work and study towards CIMA it will be hard work having to work full time on top of all the studying.
Studying for CIMA will be stressful and hard work, however I know I will be happy at uni.
On the plus side I will have my saving of £8000, to spend or put towards a mortgage.
Sorry to ramble on, but I need to make my decision in the next week or so!
Any input and opinions will be appreciated
I am AAT qualified and have no a levels, due to leaving school and going into employment.
I have now been working almost 4 years.
Upon completion of the AAT my employer stated that they were unwilling to fund additional training (I had asked for CIMA funding), so therefore I looked at my options.
I applied to university and have recently firmed Nottingham Trent to do accountancy and finance (uni choices were limited due to no A levels). I am exempt from the 1st year making it 2 years to complete, 3 years with a year work placement.
I have been saving for the last year, and am on target to save £8000 by September when my course starts. I will also qualify as an independent student which makes me entitled to maximum student finance.
I recently told my employer that I was looking at going to university. They have since come back to me with an offer to try and keep me there. They offered to raise my salary to £16,000 and fund half of CIMA, with the condition that CIMA is done in my own time.
Now I really can’t decide whether I should still go to uni or stay in employment?
I have been looking forward to going to university, mainly due to the social side and due to the fact that you need to have a degree to get a graduate job. After 4 years working full time, I feel that I will thoroughly enjoy it at university and it will be a great experience. I will also have enough money to see me through the 2 years.
I don’t want to regret not having the experience and the opportunity to make new friends. I feel like I missed out on this as I didn’t go college.
My only concern is that I won’t get a graduate job and end up working for less than I earn now, or worse, no job! Hopefully my 4 years work experience, AAT and a degree would help me stand out though!
If I stay at work and study towards CIMA it will be hard work having to work full time on top of all the studying.
Studying for CIMA will be stressful and hard work, however I know I will be happy at uni.
On the plus side I will have my saving of £8000, to spend or put towards a mortgage.
Sorry to ramble on, but I need to make my decision in the next week or so!
Any input and opinions will be appreciated
(edited 12 years ago)
What kind of work are you doing and is it in industry or practice?
From the CIMA site Nottingham Trent A&F course grants you 7 exemptions from CIMA
http://www.cimaglobal.com/Study-with-us/Exemptions/Exemption-search/Nottingham-Trent-University/?qualification=1-6HSRDP
AAT exempts you from 5 modules of CIMA
http://www.cimaglobal.com/Study-with-us/Exemptions/Exemption-search/Association-of-Accounting-Technicians-AAT/?qualification=3032
Would it be worth 9k a year to gain 2 more exemptions than you already have?
From the CIMA site Nottingham Trent A&F course grants you 7 exemptions from CIMA
http://www.cimaglobal.com/Study-with-us/Exemptions/Exemption-search/Nottingham-Trent-University/?qualification=1-6HSRDP
AAT exempts you from 5 modules of CIMA
http://www.cimaglobal.com/Study-with-us/Exemptions/Exemption-search/Association-of-Accounting-Technicians-AAT/?qualification=3032
Would it be worth 9k a year to gain 2 more exemptions than you already have?
I am currently in industry. Got quite a varied role -approving & processing all invoices, processing expenses & company credit card, bank reconciliation, producing statistics, maintaining and reconciling petty cash, maintaining the invoice finance system, reconciling supplier statements, banking and entering customer receipts, opening new customer accounts and assessing credit worthiness etc.
Will soon be going on to learn payroll, paying suppliers and hopefully management accounts (which they do not produce at the moment).
The debt of 9k per year doesn't really worry me. If start earning more than 21k and start to have to repay, i will be earning enough not to miss it.
Although it does only get me 2 additional exemptions from CIMA, it gives me the chance of getting a graduate job with a big firm.
i could also take the ACCA route, which i get quite a few extra exemptions from.
And as previously mentioned, the social side and enjoyment of going to university is one of the biggest reasons I am unsure of which choice to take.
It seems like university will be the more enjoyable route but also the most risky in case i struggle to find another job after it. however it could be the most rewarding.
Although i can study CIMA now at my current workplace, they don't have any knowledge of the qualification and i feel as though i wont benefit as much as i would at a big firm that have full knowledge of the course.
Will soon be going on to learn payroll, paying suppliers and hopefully management accounts (which they do not produce at the moment).
The debt of 9k per year doesn't really worry me. If start earning more than 21k and start to have to repay, i will be earning enough not to miss it.
Although it does only get me 2 additional exemptions from CIMA, it gives me the chance of getting a graduate job with a big firm.
i could also take the ACCA route, which i get quite a few extra exemptions from.
And as previously mentioned, the social side and enjoyment of going to university is one of the biggest reasons I am unsure of which choice to take.
It seems like university will be the more enjoyable route but also the most risky in case i struggle to find another job after it. however it could be the most rewarding.
Although i can study CIMA now at my current workplace, they don't have any knowledge of the qualification and i feel as though i wont benefit as much as i would at a big firm that have full knowledge of the course.
In your shoes I would definitely go to University. First off, you'll probably enjoy it. Secondly, providing you get yourself a 2.1 you have the option to apply for the big accountancy firms (PWC, Deloitte, E&Y, KPMG etc). You'll be in a good position I imagine for getting a position at one of those thanks to your background (relevant experience + qualification). If you get in to one of those (or other respectable ones like Grant Thornton) then you'll have a significantly higher salary and they will completely fund you to do the ACA qualification (or CIMA depending on what you decide to apply for).
THAT SAID, your lack of A-Levels could prove fatal. All the big firms have a UCAS requirement (usually 300+ across 3 A-Levels), so not having any may make things difficult. Perhaps drop a few speculative emails to the contact addresses given on each of those companies career sites asking whether you would be exempt from that requirement given your past work experience / qualifications. Will only take you 10 minutes to email, well worth it so that you can make an informed decision IMO.
THAT SAID, your lack of A-Levels could prove fatal. All the big firms have a UCAS requirement (usually 300+ across 3 A-Levels), so not having any may make things difficult. Perhaps drop a few speculative emails to the contact addresses given on each of those companies career sites asking whether you would be exempt from that requirement given your past work experience / qualifications. Will only take you 10 minutes to email, well worth it so that you can make an informed decision IMO.
Original post by M1011
In your shoes I would definitely go to University. First off, you'll probably enjoy it. Secondly, providing you get yourself a 2.1 you have the option to apply for the big accountancy firms (PWC, Deloitte, E&Y, KPMG etc). You'll be in a good position I imagine for getting a position at one of those thanks to your background (relevant experience + qualification). If you get in to one of those (or other respectable ones like Grant Thornton) then you'll have a significantly higher salary and they will completely fund you to do the ACA qualification (or CIMA depending on what you decide to apply for).
THAT SAID, your lack of A-Levels could prove fatal. All the big firms have a UCAS requirement (usually 300+ across 3 A-Levels), so not having any may make things difficult. Perhaps drop a few speculative emails to the contact addresses given on each of those companies career sites asking whether you would be exempt from that requirement given your past work experience / qualifications. Will only take you 10 minutes to email, well worth it so that you can make an informed decision IMO.
THAT SAID, your lack of A-Levels could prove fatal. All the big firms have a UCAS requirement (usually 300+ across 3 A-Levels), so not having any may make things difficult. Perhaps drop a few speculative emails to the contact addresses given on each of those companies career sites asking whether you would be exempt from that requirement given your past work experience / qualifications. Will only take you 10 minutes to email, well worth it so that you can make an informed decision IMO.
The lack of A levels is my biggest concern. I am going to email as many of the companies as i can this weekend.
Even failing getting a graduate job, i should be able to get a job as a purchase ledger clerk and fund CIMA/ ACCA myself.
Thank you for your advice
Original post by duane
The lack of A levels is my biggest concern. I am going to email as many of the companies as i can this weekend.
Even failing getting a graduate job, i should be able to get a job as a purchase ledger clerk and fund CIMA/ ACCA myself.
Thank you for your advice
Even failing getting a graduate job, i should be able to get a job as a purchase ledger clerk and fund CIMA/ ACCA myself.
Thank you for your advice
I guess the thing to consider is if the degree adds value. If you're going to end up self funding CIMA / ACCA yourself in a non-graduate position, well then you can do that now and save yourself 3 years. So while I recommend Uni, don't bother if it won't lead to anything because of your A-Levels. That said, I'd be surprised if some companies wouldn't overlook A-Levels for someone with a degree, ATT and prior experience.
On a separate note, you mentioned CIMA / ACCA, any reason why you haven't considered the ACA? CIMA is obviously a bit different (management accounting) but ACA / ACCA are very similar (financial accounting). However all of the big firms (literally all of them) are training graduates in the ACA, so I would for that reason alone pursue ACA over ACCA. Just a thought!
Short and simple, I'd say university for you. Assess which route provides a ladder for you to reach up personally.
Although a company may fund CIMA and give you higher salary, that can all change . Large organisations do have certain entry requirements, and going to university is one of them.
I wouldn't worry about A levels, rather than the usual process, apply and send. You'd be filtered out by a system rather than a human in most cases. It's good to know you did the bookkeeping of a company, which you may have used Sage 50 or other softwares.
Although a company may fund CIMA and give you higher salary, that can all change . Large organisations do have certain entry requirements, and going to university is one of them.
I wouldn't worry about A levels, rather than the usual process, apply and send. You'd be filtered out by a system rather than a human in most cases. It's good to know you did the bookkeeping of a company, which you may have used Sage 50 or other softwares.
Original post by M1011
I guess the thing to consider is if the degree adds value. If you're going to end up self funding CIMA / ACCA yourself in a non-graduate position, well then you can do that now and save yourself 3 years. So while I recommend Uni, don't bother if it won't lead to anything because of your A-Levels. That said, I'd be surprised if some companies wouldn't overlook A-Levels for someone with a degree, ATT and prior experience.
On a separate note, you mentioned CIMA / ACCA, any reason why you haven't considered the ACA? CIMA is obviously a bit different (management accounting) but ACA / ACCA are very similar (financial accounting). However all of the big firms (literally all of them) are training graduates in the ACA, so I would for that reason alone pursue ACA over ACCA. Just a thought!
On a separate note, you mentioned CIMA / ACCA, any reason why you haven't considered the ACA? CIMA is obviously a bit different (management accounting) but ACA / ACCA are very similar (financial accounting). However all of the big firms (literally all of them) are training graduates in the ACA, so I would for that reason alone pursue ACA over ACCA. Just a thought!
Im pretty sure that when i last researched, many companies would overlook A-levels, it seamed to be the bigger companies that wouldn’t.
The main reason i havent looked into ACA is due to not being able to study towards the qualification without a training contract. Ahving said that, if i was able to get a training contract, i would be more than happy to train for ACA.
When i looked at the syllabus for CIMA and ACCA, i prefered ACCA. CIMA would fit in with my current role better, however if i was going to fund it all myself, then i would probably end up studying for ACCA.
Original post by duane
...
Sounds like you've thought it through which is the most important thing. At the end of the day all of the aforementioned qualifications will definitely help you to develop your career.
If you think you'll be able to get around the A-Levels at one of the smaller firms then I'd say go for the degree and get yourself on to a training contract. Nothing wrong with the smaller firms, arguably you get a better rounded experience as you're more likely to get involved in different aspects when dealing with smaller clients.
Original post by fourdigit
Short and simple, I'd say university for you. Assess which route provides a ladder for you to reach up personally.
Although a company may fund CIMA and give you higher salary, that can all change . Large organisations do have certain entry requirements, and going to university is one of them.
I wouldn't worry about A levels, rather than the usual process, apply and send. You'd be filtered out by a system rather than a human in most cases. It's good to know you did the bookkeeping of a company, which you may have used Sage 50 or other softwares.
Although a company may fund CIMA and give you higher salary, that can all change . Large organisations do have certain entry requirements, and going to university is one of them.
I wouldn't worry about A levels, rather than the usual process, apply and send. You'd be filtered out by a system rather than a human in most cases. It's good to know you did the bookkeeping of a company, which you may have used Sage 50 or other softwares.
Thank you for your input.
I think im inclined towards going to uni after hearing everyone’s opinions.
My argument to the UCAS points is the fact that to get into university i needed 300 UCAS points, so therefore ive got the equivalent. Although i may not strictly have 300 UCAS points at least it will get me looked at by a human, rather than being filtered out and dismissed from the system
Yeah i am proficient in using Sage 50 as well as Sage 200
Original post by duane
Thank you for your input.
I think im inclined towards going to uni after hearing everyone’s opinions.
My argument to the UCAS points is the fact that to get into university i needed 300 UCAS points, so therefore ive got the equivalent. Although i may not strictly have 300 UCAS points at least it will get me looked at by a human, rather than being filtered out and dismissed from the system
Yeah i am proficient in using Sage 50 as well as Sage 200
I think im inclined towards going to uni after hearing everyone’s opinions.
My argument to the UCAS points is the fact that to get into university i needed 300 UCAS points, so therefore ive got the equivalent. Although i may not strictly have 300 UCAS points at least it will get me looked at by a human, rather than being filtered out and dismissed from the system
Yeah i am proficient in using Sage 50 as well as Sage 200
No worries, if you need any help understanding A+F. I'm happy to answer any questions
Go to uni then apply as an experienced hire, forget proper graduate schemes, without A-Levels your chances are pretty slim.
I was in almost exactly the same position as you 8 years ago, I went to university as a mature student at 23, partly to see what all the hype about student life was about.
Please don't make the same mistake as me. Although right now you don't think the financial aspect of a degree is problem, things do change. Do the CIMA and work, you'll really regret it otherwise (you might not know this till 3 years time)
A few points:
1st. Student Life: Remember, your personality has already started to be shaped, you are not straight out of school. If you want to experience it, you don't have to go to university.
2nd. If you do go, Keep an Office Job on the Side: The choice not to work whilst studying, was a bad decision for me, and it honestly meant I was further back on my career path than before my degree. I always got asked why I didn't work and what I learnt from my degree, and the answers I gave are not acceptable to an employer.
3rd. The Teaching is Much Better with the likes of Kaplan or BPP I did AAT like you and I am doing CIMA now. These providers and others are much cheaper and because they have to make a profit, the tutors put it in a lot more personal effort.
4th. The Syllabus and Standard on CIMA is Honestly Many Times Harder and More Thorough This is probably the most important point. Despite the hype/reputation around university education, it is not of value unless you want to enter something like, Medicine, Law or those sort of subjects. A simple example from CIMA, in my degree and accounting module took 5 days to study, my upcoming CIMA exam will be 6 months of intensive study. Another example, exam questions on a degree don't mix topics to the same extent as CIMA exams, and on a degree the often tell what not to study. Think about it, do you want to understand the stuff you'll be confronted with in your future workplace or just get a degree?
Please don't make the same mistake as me. Although right now you don't think the financial aspect of a degree is problem, things do change. Do the CIMA and work, you'll really regret it otherwise (you might not know this till 3 years time)
A few points:
1st. Student Life: Remember, your personality has already started to be shaped, you are not straight out of school. If you want to experience it, you don't have to go to university.
2nd. If you do go, Keep an Office Job on the Side: The choice not to work whilst studying, was a bad decision for me, and it honestly meant I was further back on my career path than before my degree. I always got asked why I didn't work and what I learnt from my degree, and the answers I gave are not acceptable to an employer.
3rd. The Teaching is Much Better with the likes of Kaplan or BPP I did AAT like you and I am doing CIMA now. These providers and others are much cheaper and because they have to make a profit, the tutors put it in a lot more personal effort.
4th. The Syllabus and Standard on CIMA is Honestly Many Times Harder and More Thorough This is probably the most important point. Despite the hype/reputation around university education, it is not of value unless you want to enter something like, Medicine, Law or those sort of subjects. A simple example from CIMA, in my degree and accounting module took 5 days to study, my upcoming CIMA exam will be 6 months of intensive study. Another example, exam questions on a degree don't mix topics to the same extent as CIMA exams, and on a degree the often tell what not to study. Think about it, do you want to understand the stuff you'll be confronted with in your future workplace or just get a degree?
Original post by rationaladvice
...
Thank you for your advice.
I have now decided to do the degree, rather than study towards CIMA.
I will be trying to get relevant work experience during my 2 years at university, to try and get an advantage on other students and to keep my CV up to date.
And the more I have looked into CIMA I think I prefer the syllabus of ACCA. I will get an additional 5 exemptions than I do with the AAT. Working it out, if I was going to study ACCA and study 2 modules each sitting, it would take me over a year to complete the 5 exams anyway. Even longer if I don’t pass first time.
With regards to cost to study CIMA or ACCA, I don’t know if you are aware, public tuition such as Manchester Met uni are the cheapest. They do tuition for £450-£500 per paper, which can work out much cheaper than the likes of BPP of Kaplan.
I can study ACCA or CIMA anytime in the future. I am currently 20, and think I am at the right age to go to university. I won’t want to go if I get any older.
I will go on to study further after university, and hopefully a degree will enhance my prospects. If not, I can always fund the course myself, and won’t be any worse off than I am now.
Original post by duane
I am aged 20 working full time as an accounts assistant on 14,000 P.A.
I am AAT qualified and have no a levels, due to leaving school and going into employment.
I have now been working almost 4 years.
Upon completion of the AAT my employer stated that they were unwilling to fund additional training (I had asked for CIMA funding), so therefore I looked at my options.
I applied to university and have recently firmed Nottingham Trent to do accountancy and finance (uni choices were limited due to no A levels). I am exempt from the 1st year making it 2 years to complete, 3 years with a year work placement.
I have been saving for the last year, and am on target to save £8000 by September when my course starts. I will also qualify as an independent student which makes me entitled to maximum student finance.
I recently told my employer that I was looking at going to university. They have since come back to me with an offer to try and keep me there. They offered to raise my salary to £16,000 and fund half of CIMA, with the condition that CIMA is done in my own time.
Now I really can’t decide whether I should still go to uni or stay in employment?
I have been looking forward to going to university, mainly due to the social side and due to the fact that you need to have a degree to get a graduate job. After 4 years working full time, I feel that I will thoroughly enjoy it at university and it will be a great experience. I will also have enough money to see me through the 2 years.
I don’t want to regret not having the experience and the opportunity to make new friends. I feel like I missed out on this as I didn’t go college.
My only concern is that I won’t get a graduate job and end up working for less than I earn now, or worse, no job! Hopefully my 4 years work experience, AAT and a degree would help me stand out though!
If I stay at work and study towards CIMA it will be hard work having to work full time on top of all the studying.
Studying for CIMA will be stressful and hard work, however I know I will be happy at uni.
On the plus side I will have my saving of £8000, to spend or put towards a mortgage.
Sorry to ramble on, but I need to make my decision in the next week or so!
Any input and opinions will be appreciated
I am AAT qualified and have no a levels, due to leaving school and going into employment.
I have now been working almost 4 years.
Upon completion of the AAT my employer stated that they were unwilling to fund additional training (I had asked for CIMA funding), so therefore I looked at my options.
I applied to university and have recently firmed Nottingham Trent to do accountancy and finance (uni choices were limited due to no A levels). I am exempt from the 1st year making it 2 years to complete, 3 years with a year work placement.
I have been saving for the last year, and am on target to save £8000 by September when my course starts. I will also qualify as an independent student which makes me entitled to maximum student finance.
I recently told my employer that I was looking at going to university. They have since come back to me with an offer to try and keep me there. They offered to raise my salary to £16,000 and fund half of CIMA, with the condition that CIMA is done in my own time.
Now I really can’t decide whether I should still go to uni or stay in employment?
I have been looking forward to going to university, mainly due to the social side and due to the fact that you need to have a degree to get a graduate job. After 4 years working full time, I feel that I will thoroughly enjoy it at university and it will be a great experience. I will also have enough money to see me through the 2 years.
I don’t want to regret not having the experience and the opportunity to make new friends. I feel like I missed out on this as I didn’t go college.
My only concern is that I won’t get a graduate job and end up working for less than I earn now, or worse, no job! Hopefully my 4 years work experience, AAT and a degree would help me stand out though!
If I stay at work and study towards CIMA it will be hard work having to work full time on top of all the studying.
Studying for CIMA will be stressful and hard work, however I know I will be happy at uni.
On the plus side I will have my saving of £8000, to spend or put towards a mortgage.
Sorry to ramble on, but I need to make my decision in the next week or so!
Any input and opinions will be appreciated
In 2012 I was 18 and on £23k a year after a Finance Apprenticeship. Hope you did CIMA! You are probably on £30-£35k now with 0 debt compared to £25k with £30k debt
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