Big 4 school leavers or a degree?

Graduate route

+chance to experience university life
-takes longer
-build up student debt
-more competitive
-don't get the same experience and no salary (unless you have a part time job)

School Leaver

+no student debts/ experience/ salary
+qualify quicker
+can network and gain contacts
-your going straight into work for the next 45 years - you might want to delay starting a bit longer
-not same social aspect as university

I personally would do the school leaver route as it doesn't limit your future prospects (in accounting). The only real advantage of going to university is the social life but working during the week doesn't prevent you going out at the weekends.

If you ever left accountancy you may be far more restricted in getting another job than if you left, still with a degree.

If you ever left accountancy you may be far more restricted in getting another job than if you left, still with a degree.

Apart from that, the lack of debt especially now its 9k pa is very tempting. Plus you'll be earning for at least 3 years where you would have been at uni which could speed up life choices like buying a house etc.

Also does anyone know whether you can still progress to the top within the firm as easy as someone with a degree?

Yes. Although the starting salary is much less than that of a graduate as you'd expect (about £6k difference).

With a degree surely you would be in a better position if you find you don't want to be an accountant for the next ~50 years of your life (from what my mum says it isn't exactly an exciting career choice)

Hindsight is a beautiful thing, unfortunately the opportunity presents itself right now

Do you enjoy accounting and is it what you want to do at this moment in time?

Any idea of the salary of a school leaver after 3 years vs a new graduate?

I'm at school, I enjoy maths and economics and from what I've read/researched on the internet accounting seems like a career that suits the skills I have.

I'm applying to university to do economics anyway and I would be planning to apply to a big 4 firm in my final year unless something changes dramatically. I'm just wondering if the 'uni experience' is really worth it long term. At the end of the day if I hate accounting after a year I can re-apply and do a degree anyway.

You get paid less than a graduate for the first two years, and then the same for the next three so at the big four, after your five year training (with deloitte or ey), you'd be on about 40k.

Not sure what the salary is for a school leaver but by your third year, you'd probably be on 18-28k depending on the region.

I would apply to other firms outside the big four as well. The big four has the prestige but you'll still make a good living wherever you work.

I think they make you pay training costs if you leave before completing your training contract.

That's pretty good for 22 haha.

Oh yeah, that makes sense I'll have to think about it even more then.

You mentioned Deloitte and EY. Do you have any knowledge about contrasting the different schemes? I would have assumed PwC was the best because it's number 1.

There all very similar firms and you can't go too wrong with any of them. I actually think Deloitte has just overtaken PwC as the biggest firm. The EY and Deloitte school leaver schemes are 5 years. PwC has a higher apprenticeship scheme but it also has a sponsored degree (don't know too much about this). KPMG only has a 6 year sponsored degree. EY also has a degree called the EY Degree in Accounting, Auditing and something else- you can apply for this through UCAS.

Slightly smaller firms also have programmes - Grant Thornton, BDO, Baker Tilly, Smith and Williamson and Mazars are all top 10 with school leaver jobs and would still be good places to start your career. You can always move to the big four after qualifying as an experienced hire and they are known to recruit a lot of people from the firms just below them. I would argue that in some ways, these are better places to train as you won't have the same hours.

Another disadvantage of the school leaver schemes at the big firms is generally, if you fail an exam - your out. At least if you have a degree, you can get jobs but as a school leaver, you have nothing.

A little personal story from me here, When I was in school the girl I sat next to in maths applied for one of the Big4 school leaver programmes, and subsequently got the job while I trotted off happily to uni to get drunk.

5 years down the line, I'm at the same firm as that girl. I have a degree, however, I'm only one year into the job, tied up in debt (both student and personal) and only just 'becoming a person'. where as she is now married, has her second child on the way, is a manager in our company, and basically earns a ton more than me.

Sounds like she got the better deal on paper, and she probably did.

However there is no way I'd have been offered the role at school leaver stage - I just wasn't ready for it, and didn't have enough life experience.

So it's up top the individual. I say go for school leaver if you think you can't benefit from a few wild years to 'find yourself' because ultimately, a few years down the line you will be in a better position.

A little personal story from me here, When I was in school the girl I sat next to in maths applied for one of the Big4 school leaver programmes, and subsequently got the job while I trotted off happily to uni to get drunk.

5 years down the line, I'm at the same firm as that girl. I have a degree, however, I'm only one year into the job, tied up in debt (both student and personal) and only just 'becoming a person'. where as she is now married, has her second child on the way, is a manager in our company, and basically earns a ton more than me.

Sounds like she got the better deal on paper, and she probably did.

However there is no way I'd have been offered the role at school leaver stage - I just wasn't ready for it, and didn't have enough life experience.

So it's up top the individual. I say go for school leaver if you think you can't benefit from a few wild years to 'find yourself' because ultimately, a few years down the line you will be in a better position.