Building a career in Accountancy. Does anyone have advice on how I should do it!?

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  1. genseas's Avatar
    • New Member
    • Posts: 1
    Building a career in Accountancy. Does anyone have advice on how I should do it!?
    Hi, new here but I'll get straight to the point!

    I'm 22 and I graduated with a 2.1 in Economics last July and for the past 11 months I've been enjoying myself and post uni freedom, I lead a very happy life. I have been working in various part time jobs while planning to travel the world.
    I have loved that its been so carefree and so relaxing in comparision to all the deadlines, essays, exams etc that goes along with being a student.

    But, about a month ago, I got a bit of a wake up call. You may think I have my head in the clouds and should have worked out what I really wanted to do with my life while still at uni, well maybe but I dont agree I felt young and also that I didnt need to worry about the future when the 'here and now' was so exciting. However, back to the point, I have fully realised that my current situation isn't going to get me anywhere fast and my long term dream of having a nice house and a family will quickly disappear if I continue to earn just fractionally more than minimum wage forever plus I do have the desire to make something of myself! This has lead to me spending the last few weeks putting some serious thought into my life and given my background I want to move into accountancy - its not the biggest jump from Economics. I am very serious about going back and learning new things, doing exams and all the pressure that will go with it, I have however been struggling with which way to go.

    I have satisfactory A level results 260 points (my A in Maths basically got me into university) and a good degree. I have been looking around and I have been disheartened to find that my A levels and degree do not appear strong enough to get an ACA training contract - I will admit my mind has been so fried with all the information about accountancy you can access on the internet I may have missed something. This is why I have come here for some advice. I have been looking at the AAT, what are peoples opinions on this given my situation? Am I selling myself short, could my results get me a training contract if I put more effort into it? Should I be heading for ACA given I have a degree? Or would it be a good idea to work towards AAT around my current part time job? It would show willing and boost my CV a bit, allow me to change jobs and hopefully I could move onto doing the ACA.

    I worry that my nature may put prospective employers off. I am a big dreamer and to a lot of people that do not know me on paper - I reluctantly agree - it looks as though I have wasted the last year of my life and lots of money on my uni degree seeing as none of the jobs out of the 4 I have held in the last year required me to have my degree but once I put my mind to something I never quit. And Ive had so much fun in the last year! I havent travelled the world yet I will do it but it is time to look to the future a bit and I wonder if there is any one out there that could help me work out which way to go.

    Any advice will be very much appreciated.
    Thanks
  2. monk_keys's Avatar
    • Exalted and Worshipped Member
    • Location: London, UK
    • Posts: 902
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    I wouldn't feel embarrassed about spending a year messing about after uni, I spent two!

    You'll inevitably be asked about it and you just say you wanted to see the world and take some time over your career choice (hint hint you're a considered person).

    Honestly the 260 UCAS is a big disadvantage to joining a grad scheme but there are firms that take 260 UCAS http://trainingvacancies.icaew.com/j...%7C%7CGraduate

    Although there are only a two there my gut feeling is that there will be a few more come grad scheme season.

    On top of this many smaller firms don't specify requirements so just got through all firms and send your CV to anyone who doesn't specify UCAS points with a damn good covering letter.

    http://www.accountancyage.com/static/top50-this-year

    I found Reeves straight away http://www.reeves.co/careers/trainin...acca-training/

    AAT is an option, but I would exhaust any opportunities for getting straight into an ACA/ ACCA training contract first.
    Last edited by monk_keys; 10-07-2012 at 17:22.
  3. M1011's Avatar
    • Overlord in Training
    • Location: London
    • Posts: 2,602
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    Monk-keys is dead on. 260 will make it difficult, but you have a strong degree so you should be able to redeem yourself. Look for ACA/ACCA and use AAT as a last resort, simply because you already have a degree so to do otherwise is basically a step backwards. Good luck.
  4. poony's Avatar
    • Exalted Member
    • Location: London, Canada Water
    • Posts: 328
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    Competition is fierce for ACA grad. training contract. You might think your UCAS points are satisfactory but many applicants have all As at A levels and 2:1. I might be harsh but we are in the real world.

    Don't look down on AAT, getting a training contract is the key. If you didn't manage to find anything, try to study for ACCA instead, you will get certain exemptions with your economic degree. Once you passed the Fundamentals level, you proved yourself a potential accountant. Worst come to worst, passed all the exam. then look for 3 years practical experience.

    One of my friends who didn't get the training contract did the above and now have his own small firm. I was lucky getting the CA grad. contract but I am still working for someone.

    You can still do it as long as you are determined.

    Good luck
  5. kevinfosterft's Avatar
    • Junior Member
    • Location: West Midlands
    • Posts: 25
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    Definitely go ahead with AAT. Its totally worth it. You get a learn a lot about the basics and what works in accountancy. Plus, if you decide to continue and do ACCA then you will get exemptions in certain subjects. I got hooked on to accountancy and took up AAT cos I have a thing for numbers. Looking at this, my family advised that I should probably try to be an accountant and make a career out of it. Since, we have our own firm, I will get the benefit of first-hand experience as well!!!

    And, who says there is harm in taking a year off? I took two years off and just enjoyed my time!
  6. yashradia's Avatar
    • Exalted and Worshipped Member
    • Location: london
    • Posts: 1,143
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    I am in the same boat as you. At least you had temporary jobs, I didn't and that's where my confidence has shoot down.
    I have 280 UCAS points. And my degree is in accounting with 2:1. I never looked for training contracts because I have low confidence and thought i will never go through interviews I want career in Accountancy but really don't know where to start
  7. monk_keys's Avatar
    • Exalted and Worshipped Member
    • Location: London, UK
    • Posts: 902
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    tbh if you don't even have the confidence to go to interviews then you are never (ever) going to get a job.

    I'd work on that rather than trying to side-step the problem.
  8. yashradia's Avatar
    • Exalted and Worshipped Member
    • Location: london
    • Posts: 1,143
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    (Original post by monk_keys)
    tbh if you don't even have the confidence to go to interviews then you are never (ever) going to get a job.

    I'd work on that rather than trying to side-step the problem.
    I know, that's why i am applying more for accounts assistant job, work on my confidence and learn sage and all other software.

    Once i am fully comfortable, i will apply to bigger firms with less worry... Just hope i am on the right track though! i worry sometimes cos time is not waiting for no body
    Last edited by yashradia; 11-07-2012 at 11:43.
  9. kevinfosterft's Avatar
    • Junior Member
    • Location: West Midlands
    • Posts: 25
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    (Original post by yashradia)
    I know, that's why i am applying more for accounts assistant job, work on my confidence and learn sage and all other software. (
    Learning each and every software will be very difficult. Also, it is not necessary that you know about each and every software or every other accounting techniques. I think, if you try to do too much too soon, then you will face rough weather! Instead, why not focus on one goal at a time and learn the sage s/w fully? Then check if there are any advanced versions or professional versions you need to learn. If you learn too many things, then you might not be able to focus on a niche field. And, in what way are you planning to improve your confidence?
  10. Narcissist's Avatar
    • Benevolent Member
    • Posts: 690
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    Your 2.1 should still give a good impression to the employer about your academic capabilities.

    What they'll be looking for is consistency in exam results, you need at least 55% in all modules to get qualified. If you got solid marks in all modules at University that should be good enough for a lot of firms. If you did badly in one or two you should think about how you will explain in interview where you went wrong and how you've changed your approach so it doesn't happen again in the future.

    Also push skills you've developed through the jobs you've held, so that they know you'll be great at the other aspects of the job.
  11. anttooking's Avatar
    • Adored and Respected Member
    • Posts: 448
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    (Original post by genseas)
    Hi, new here but I'll get straight to the point!

    I'm 22 and I graduated with a 2.1 in Economics last July and for the past 11 months I've been enjoying myself and post uni freedom, I lead a very happy life. I have been working in various part time jobs while planning to travel the world.
    I have loved that its been so carefree and so relaxing in comparision to all the deadlines, essays, exams etc that goes along with being a student.

    But, about a month ago, I got a bit of a wake up call. You may think I have my head in the clouds and should have worked out what I really wanted to do with my life while still at uni, well maybe but I dont agree I felt young and also that I didnt need to worry about the future when the 'here and now' was so exciting. However, back to the point, I have fully realised that my current situation isn't going to get me anywhere fast and my long term dream of having a nice house and a family will quickly disappear if I continue to earn just fractionally more than minimum wage forever plus I do have the desire to make something of myself! This has lead to me spending the last few weeks putting some serious thought into my life and given my background I want to move into accountancy - its not the biggest jump from Economics. I am very serious about going back and learning new things, doing exams and all the pressure that will go with it, I have however been struggling with which way to go.

    I have satisfactory A level results 260 points (my A in Maths basically got me into university) and a good degree. I have been looking around and I have been disheartened to find that my A levels and degree do not appear strong enough to get an ACA training contract - I will admit my mind has been so fried with all the information about accountancy you can access on the internet I may have missed something. This is why I have come here for some advice. I have been looking at the AAT, what are peoples opinions on this given my situation? Am I selling myself short, could my results get me a training contract if I put more effort into it? Should I be heading for ACA given I have a degree? Or would it be a good idea to work towards AAT around my current part time job? It would show willing and boost my CV a bit, allow me to change jobs and hopefully I could move onto doing the ACA.

    I worry that my nature may put prospective employers off. I am a big dreamer and to a lot of people that do not know me on paper - I reluctantly agree - it looks as though I have wasted the last year of my life and lots of money on my uni degree seeing as none of the jobs out of the 4 I have held in the last year required me to have my degree but once I put my mind to something I never quit. And Ive had so much fun in the last year! I havent travelled the world yet I will do it but it is time to look to the future a bit and I wonder if there is any one out there that could help me work out which way to go.

    Any advice will be very much appreciated.
    Thanks
    Good luck in your search. If you can get an ACA contract then you should go for it, but also consider AAT with a smaller firm. You have a more general education and get to learn the fundamentals. But, best of luck.
  12. anonymousaudit's Avatar
    • Junior Member
    • Posts: 63
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    A lot of firms accept 260 UCAS points- dedicate an afternoon to going through the Accountancy Age top 50 (+50) and write down the names of the firms that will consider you.

    I don't know the inner workings of firms, and how much they care about A-Levels. But I work at a top firm (not big 4, just outside of) and I have 280 UCAS points and at the time of my offer was predicted a 2:1 (did achieve a first, though). I have 2 DISGUSTING module grades at university on my transcript.

    I get the impression you're somehow being discouraged because of your "mediocre" transcripts. They're minimum requirements, if you pass them you have the potential to get through to interview + even a job offer. It's all about what you're doing, how you can talk about yourself, and your determination after that tbh. Don't let the pedantics run you down else you'll never apply anywhere.
  13. Brotherhood's Avatar
    • TSR Demigod
    • Location: Manchester, England
    • Posts: 6,769
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    (Original post by anonymousaudit)
    A lot of firms accept 260 UCAS points- dedicate an afternoon to going through the Accountancy Age top 50 (+50) and write down the names of the firms that will consider you.

    I don't know the inner workings of firms, and how much they care about A-Levels. But I work at a top firm (not big 4, just outside of) and I have 280 UCAS points and at the time of my offer was predicted a 2:1 (did achieve a first, though). I have 2 DISGUSTING module grades at university on my transcript.

    I get the impression you're somehow being discouraged because of your "mediocre" transcripts. They're minimum requirements, if you pass them you have the potential to get through to interview + even a job offer. It's all about what you're doing, how you can talk about yourself, and your determination after that tbh. Don't let the pedantics run you down else you'll never apply anywhere.
    I thought you hadn't started yet?
  14. anonymousaudit's Avatar
    • Junior Member
    • Posts: 63
    Re: Building a career in Accountancy. Does anyone have advice on how I should do it!?
    (Original post by Brotherhood)
    I thought you hadn't started yet?
    Yess you're right! I just say it as it's quite fragmented otherwise...? For clarification to the OP (not that it ultimately changes the message conveyed in my post ?) I have been offered a training contract at a firm which I start in a month.

    p.s: sorry if you're still annoyed that I accidentally -vely repped you, I was on a touch phone which I am awfulllllll at navigating, the number of blank texts and typos I've sent this month is disgraceful! x
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