What to do after Accounting & Finance Degree

Already asked this on the 'Ask ACCA' thread but no reply.

defeinetely want to go on to be a chartered accountant, but I'm kind of confused about the route to get there.
I'm in my last year of A Levels and I'm going on to study Accounting & Finance at LSE hoping to get at least a 2:1. (Hopefully with one year work in the industry for work experience)

So, after I've finished my degree and its done and dusted, I will take the professional ACCA or ICAEW exams with a few exemptions hopefully and pass. But what actually happens during the time I'm working hard for these exams... Will I be working part time as..... (if possible) or will I actually earn any money over this time with my Accounting & Finance degree? I heard it is better to not do any work part time and just do the exams and get it over with but I'm worried about how I will earn money and live without bothering my parents.
Especially with a uni debt of at most £27,000 hanging over my head.
I've also got some concerns as I heard that you cannot start being an accountant without 3 years previous work experience or something... If this is true.. Where/how will I get this?
Also, with a four year degree where you gt one year work experience, is paid? I heard you can gt 20k from just that year alone...

A bit long winded I know but I would absoultely appreciate a reply from somebody who has extensive knowledge in this practice.

Reply 1

Samtheman1

Yes your work experience will be paid.

Obvious route will be to join the big4 after you graduate. Around £30,000 starting salary - they will put you through the exams. You have to work and study (you get time off to study).

All very doable.

Reply 2

Tactical Nuclear Penguin

Original post by PaulMayweather

So, after I've finished my degree and its done and dusted, I will take the professional ACCA or ICAEW exams with a few exemptions hopefully and pass. But what actually happens during the time I'm working hard for these exams... Will I be working part time as..... (if possible) or will I actually earn any money over this time with my Accounting & Finance degree? I heard it is better to not do any work part time and just do the exams and get it over with but I'm worried about how I will earn money and live without bothering my parents.

Yes you will be paid; you'll be working full time on a graduate training contract whilst you do your studies. The pay in the sector is good.

Especially with a uni debt of at most £27,000 hanging over my head.
I've also got some concerns as I heard that you cannot start being an accountant without 3 years previous work experience or something... If this is true.. Where/how will I get this?

Every hour that you work (on accounting jobs) in your full time work on a training contract will be logged towards your 'time qualification' for the relevant accounting qualification. So you may be exam qualified but have to work for a few months more in order to fully qualify. So you gain the experience with the firm you work for :smile:

Also, with a four year degree where you gt one year work experience, is paid? I heard you can gt 20k from just that year alone...

A bit long winded I know but I would absoultely appreciate a reply from somebody who has extensive knowledge in this practice.

Yeah you can easily earn roughly £20k on a placement year dependent on location (less than that in the Northern offices, more than that in London & the South) and graduate salaries will be even better.

Reply 3

Dukeofwembley

Original post by PaulMayweather

your in one of the best universities in the uk, you could easily get into investment banking, but you want to be a charted accountant so thats fine

look at the big 4 and what they want, i hear they are a fan of self funded travel, a good idea if you want to do this is to learn german, and move to germany in your summer holiday, and find work( if you like learning languages, if you could pull this off im sure they would be very impressed)

the top firms will pay for you to get your accounting qualifications

but make sure you stand out

do extra curriculars, learn a language, become treasurer of a society(very good)

teach the wanna be entreprenurs in your university how to sort out their finances etc,

join the Army officer training corps( u dont have t join the army and they teach you leadership skills)

Accountancy?

Original post by Dukeofwembley

your in one of the best universities in the uk, you could easily get into investment banking, but you want to be a charted accountant so thats fine

Spoken like someone who hasn't got a clue.

Original post by J.Nalbandian14

Accountancy?

Drunk?

Reply 6

Dukeofwembley

Original post by M1011

Spoken like someone who hasn't got a clue.

Drunk?

oh rite, you can only get into banking from bedfordshire uni, right thanks

Reply 7

M1011

Original post by Dukeofwembley

oh rite, you can only get into banking from bedfordshire uni, right thanks

This comment is about as clueless as your last one, want to go for three in a row?

Reply 8

PaulMayweather

Original post by dudleyian

Yes you will be paid; you'll be working full time on a graduate training contract whilst you do your studies. The pay in the sector is good.

Every hour that you work (on accounting jobs) in your full time work on a training contract will be logged towards your 'time qualification' for the relevant accounting qualification. So you may be exam qualified but have to work for a few months more in order to fully qualify. So you gain the experience with the firm you work for :smile: