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Accounting graduate schemes, 2.1 degree but bad-A-levels, Advice needed!!!

I was very lazy and didn't study hard for my A-levels. :confused:

I only got A,B ( Maths based subjects ) and C,E (AS level only, got an E in General studies) but I managed to get a 2.1 in an accounting degree from a university which ranked approx50.

After university, I studied the ACCA qualification for a year and passed all 5 professional papers and already got exempted from all 9 fundamental papers. Now I only need three years of accounting related work experience before I can call myself a chartered accountant.
I talked to my tutors and they said even a 2.1 or a 1 is nothing special and a MSc degree is almost a necessity and it will give me good job prospects and more flexibility from a long-term perspective. Is this true?

I am not going to do a MSc in finance and accounting because I have already passed the ACCA papers. I have chosen to study a different subject, MSc Management in a Russell Group university starting this September and the business school has triple accreditation as well.

After the MSc, I want to apply for graduate schemes. I know I can't apply for the Big4 because of my A-levels and other things. Almost all the graduate schemes require a minimum of 3 A-levels at C or above, or equivalent to 240 UCAS points. Even some small firms ask for at least 3 Bs or 300 points. I only have 220 UCAS points for my two full A-levels and 40 points from AS Accounting and 20 points from AS General Studies. I know many firms don't accept General Studies and I don't know whether the AS level Accounting counts or not. If it counts then I have 280 points.

My career plan:
I want to become a chartered accountant. After I have the ACCA title after my name, I want to move to consultancy/corporate finance side.
I am a bit worried that they will look at my A-levels even I have BA, MSc, and ACCA affiliate certificate. Is it a good idea to do an extra A-level this year together with my MSc degree? e.g. Foreign Languages (I know many of them only allow first sittings and you have to do it within 2 years)
I have no previous accounting related work experience but I have worked in a food shop for many years. I also work at Barnardo's charity shop for few hours per week. Now I am trying to find a part-time job or working as a volunteer to get some accounting related work experience. I am 23 now.

Any input would be great. Thanks

(edited 9 years ago)

Reply 1

Sakoha

Original post by Lam888

I talked to my tutors and they said even a 2.1 or a 1 is nothing special and a MSc degree is almost a necessity and it will give me good job prospects and more flexibility from a long-term perspective. Is this true?

An MSc degree will not reasonably improve your chances of securing a graduate/trainee role in accounting. I have met many individuals who have tried to increase their employability by doing an MSc but I haven't met one that has succeeded (unfortunately). I'd recommend applying for finance divisions of firms within industry (a lot of good grad roles out there), or applying to smaller accounting firms, or using recruitment agencies instead. Best of luck!

Reply 2

Lam888

Hi Sakoha, thank you for your advice
I know a MSc won't help much for finding a graduate job. But from a long term perspective surely it helps right? I am talking about 10 years from now.

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Reply 3

AW1983

Original post by Lam888

No, it's absolutely wrong. An MSc will do absolutely nothing for you. The only masters worth doing after accountancy is an MBA (or potentially an LLM if your career goes in that direction).

After the MSc, I want to apply for graduate schemes. I know I can't apply for the Big4 because of my A-levels and other things. Almost all the graduate schemes require a minimum of 3 A-levels at C or above, or equivalent to 240 UCAS points.

If you have AB at A-Level and C at AS-Level, that's 260 points (you get 120 points for the A, 100 for the B and 80/2=40 for the C, which does count). Also, if you took the AS-Level to A-Level that will bump you up to 300 UCAS points if you only get a C grade (and you could do better and average out with a B now you're an accounting grad), enough to apply for some of the Big 4 schemes. Surely that is more worthwhile than an expensive MSc?

I want to become a chartered accountant. After I have the ACCA title after my name, I want to move to consultancy/corporate finance side.

Definitely finish the A-Level then. And for goodness sake don't waste your time with that silly MSc, go and look for work now.

Reply 4

snakesnake

An MSC is a waste of time in accountancy and possibly in finance in general. Professional qualifications such as ACA/ACCA/CFA will do far more for your career and employability.

Plus after a few years of work experience, nobody is going to care what you did in uni anyway.

Reply 5

Lam888

Hi Aw1983 thank you for your suggestion
I think the alevel exam structure has changed which means i have to start from the beginning. Then does it mean I am resitting the a level accounting course? Many firms only accept your first set of results. I think it will be too easy for me cos i have passed all the ACCA papers. Is it better for me to do a language course? I am trying to do the whole alevel in one year if possible. E.g. Chinese or Spanish

Most firms have the alevel requirements criteria because there are so mamy people with 2.1 or above and it is hard for them to state on the requirements saying you have to graduate from the top 10 universities and they also like consistency from students.

Most of the graduate schemes require 280 ucas points and says they are going to help you with the ACCA,ACA,CIMA courses. I don't have enough ucas points but i have done all the acca papers. Do I get a chance for an interview? And do I have to ring them regarding my situation? Many thx

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Reply 6

Lam888

Hi Snakesnake
Thank you for your advice, I have done all the ACCA papers (optinal papers, advanced financial performance and advanced audit and assurance) and only need 36 months of experience before i get the title.

For family reasons, i have to do the MSc Management and i think it will be useful if i want to work in Asia right? e.g. China Japan
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Reply 7

AW1983

Many firms only accept your first set of results.

Technically it would be your first result, because you haven't sat the A2 level yet.

That said, why are you trying to get into grad schemes with all the papers under your belt anyway? Can't you try getting into an accountancy role in industry?

Reply 8

Tokyoround

University tutors/careers departments are terrible. Telling you to do a masters because your 2.1 isn't enough is completely ridiculous. They obviously have an incentive to tell you this so you can pay them more money for something that will not really add any value to your profile.

Reply 9

Pipsico

Do not do a masters, it will be an absolute waste of time and money.

Your 2.1 will get you through the door - your masters will be completely superfluous.

You would be much better off spending that time and money getting a little relevant experience before and whilst you apply for schemes.

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(edited 9 years ago)