Apprenticeship or degree?

Hi everyone, so basically I'm starting upper sixth form come September studying Econ, maths, geog and have just been offered a place on Ernst & Young's audit apprenticeship (which to me is awesome).
However, my parents aren't so keen on me accepting it as they'd rather I have a degree first.

Is it worth putting off going to work and taking my ACA's for another 3-4 years just to earn a degree first? Does having a degree make you more employable than someone with real work experience?

Reply 1

x_zaram_x

Original post by jeanie13

Honestly I’m in the same dilemma as you are, I wish I knew what to do as well. Personally from the research I’ve done is that the apprenticeship gives you a degree and potentially a guaranteed job at the end of the year, if you don’t mind the wage during the first year and you like the apprenticeship I’d say go for it. Maybe also research a little more on the course you’d be doing at uni and see whether you would like to complete it for another 4 years or not. I hope this helped you.

Reply 2

Tabathaxx

you will likely be far more employable with the apprenticeship and gain degree level qualifications with no debt .... worth explaining this to your parents but it seems a no brainer to me . well done on getting it !

Reply 3

Mark-987

Original post by jeanie13

I think going straight into the apprenticeship will be limiting in terms of your future role opportunities.

Reply 4

jeanie13

Original post by Tabathaxx

Thank you! My parents see it as restrictive if I take the apprenticeship over a uni degree because there will supposedly be little flexibility in career path. However I am pretty certain I want to go into accounting but even so, if I ventured down banking or something similar, an apprenticeship at EY shows hard work and experience right? Like it wouldn't give me a disadvantage to someone who just came out of uni with only a degree?

Reply 5

Ryanwilks96

I am someone who went down the apprenticeship route and I am now one exam away from qualifying with my ACA. I am in the same position and on the same wage as people who are 3 years older than me. The biggest drawback I can think of is the lack of uni lifestyle. Degrees do not have the value they used to and I have felt no limitations in terms of work due to my lack of degree.

Reply 6

ajj2000

Original post by Mark-987

I think going straight into the apprenticeship will be limiting in terms of your future role opportunities.

On what basis? I;m an experienced Chartered Accountant. I know lots of other accountants (inevitably). This includes ones who qualified without even having A levels - many have gone onto very good jobs. I can see a lot of attractions to going to university - but to suggest that the average person who does a 4.5 year scheme with EY has a lower outturn than the average graduate seems very unlikely.

Reply 7

ajj2000

Original post by Ryanwilks96

Congratulations - case study to go?

Reply 8

TomA1997_

Original post by Mark-987

I think going straight into the apprenticeship will be limiting in terms of your future role opportunities.

This is terrible advice. I took an Apprenticeship with a large organisation 2 years ago and I'm now earning £27,000 (which is great for Scotland) and embarking on a Graduate Apprenticeship (fully funded) where I'll earn a BSc in Software Development. Every single one of my friends who went to uni is struggling to find decent jobs because they have 0 work experience. Experience is key and is really all anyone cares about when hiring people.

Reply 9

Ryanwilks96

Original post by ajj2000

Congratulations - case study to go?

Just found out today I passed case study - so now exam qualified!

Reply 10

ajj2000

Original post by Ryanwilks96

Just found out today I passed case study - so now exam qualified!

Wow - congratulations! Have a great night out to celebrate!

Any exciting plans now the exams are over?

Reply 11

Ryanwilks96

Original post by ajj2000

Wow - congratulations! Have a great night out to celebrate!

Any exciting plans now the exams are over?

Thank you!

Plans are to get ready for CTA exam in November haha.

Reply 12

ajj2000

Original post by Ryanwilks96

Thank you!

Plans are to get ready for CTA exam in November haha.

Wow - you like punishment!

Out of interest - as the university vs training contract question comes up a lot - why did you chose the apprenticeship route? How do the others in your cohort feel about it?

Reply 13

Ryanwilks96

Original post by ajj2000

Quite a long story really, but essentially I didn’t get into my uni of choice and didn’t want to pay ££££ to go somewhere I didn’t really want to go to. Having a head for numbers lead me to an apprenticeship and it really went from there. The others in our office who have all gone to uni are all great and from their point of view the uni lifestyle was 100% worth it.

I though am extremely happy with how it has worked out for me I am 22 and ACA qualified, own a house and should be CTA by the time I am 23. (I think I should be able to brag about that a little 🤣)

If I was advising someone the factors to consider are the following:
How certain you want to be an accountant? If the answer is that you are certain then I think apprenticeship is the way to go.
How important is the uni lifestyle to you? Everyone I know who has been to uni has enjoyed it thoroughly and if this is something you truly want to experience then go for it.

To become ACA you need to complete a training contract regardless of going to uni or not. Some courses offer exemptions however so does achieving AAT (it did when I completed it in any case) or going straight for the ACA exams is definitely achievable from sixth form. For me after not getting into uni I wanted to get through the qualification as fast as possible and the apprenticeship provided that.

Reply 14

sophie_chu

Do what feels right to you OP; I found and took my own happy way after listening to my parents' well-intentioned advice didn't work for me.

To me, the point of going to university is to get qualifications that will help you to land a job. You already have a job offer at a Big Four firm that is paying you and paying for you to get the qualifications, which are level 7 and equivalent to a Master's. If you(r parents) really want you to have the degree on paper, you can do a short top-up Master's course after you finish the apprenticeship with EY which will round it all off.

I'm not sure about EY's apprenticeship structure but I think that if the pre-ACA qualification takes two years to obtain, you would be qualifying earlier than a graduate who did three or more years in university, so if your ultimate career goal is to become a CA, the apprenticeship sounds like a no-brainer.

I had an ACA apprenticeship offer from a BF firm and was given the above advice by a family member who is a CA.

Reply 15

Emma:-)

Entertainment Forum Helper

Original post by jeanie13

Id deffo go for the apprenticeship.
If you dont take this opportunity, it may never come again.
You get the experience and the qualifications. No debt from uni. You can go down slightly different career routes later on if you want.
Its a no brainer.

Reply 16

National Careers Service

Original post by jeanie13

Hi there,

Congratulations on securing an apprenticeship with E&Y - this is something to be incredibly proud of.

To be honest there's no right or wrong answer here, only what's right for you.

Higher and degree apprenticeships are fast becoming an alternative to university for many students as it suits their learning style much better and does come with improved job prospects upon completion. That's not to say you shouldn't go to uni but if you do it's important to build up enough experience to compete with degree apprentices for jobs.

Employers value skills and experience just as highly as your qualifications and an apprenticeship is an opportunity to combine your degree with invaluable work experience whilst earning a wage. Something that really appeals to a lot of people is the idea of not getting into any student debt through an apprenticeship as this is funded for you by the employer.

I would draw up a list of pro's and con's and talk it through with your parents. As part of the apprenticeship you might still need to attend a local university so you could have the best of both worlds.

Good luck and I hope you are able to make a decision that is right for you and your future career.

Thanks - Sophie.

(edited 4 years ago)

Reply 17

Umayrc63

Original post by Ryanwilks96

Hi I knoww this is a 2 year old post. Just wanted to ask, do you regret missing out on the uni lifestyle?

Reply 18

Ryanwilks96

Original post by Umayrc63

Hi I knoww this is a 2 year old post. Just wanted to ask, do you regret missing out on the uni lifestyle?

I suppose you don't know, what you don't know; but in all honesty no. I am earning almost £50k per year at large regional firm at 25 years old, having been dual qualified ACA/CTA for a couple years. Earning potential looks to go up a good chunk in the next year or so (circa £60k).

Using a quick online calculator a £50k salary would result in payments of almost £200 a month which I'd much rather have in my back pocket.

The hardest part was when friends from sixth form were out partying, and I head my head in a job and in studying for professional qualifications, but now I am really happy with where I am and those thoughts never cross my mind; in fact the only reason the thought crossed my mind was this post!

Any other questions, feel free to ask.

Reply 19

Umayrc63

Original post by Ryanwilks96

Thanks for replying. my situation is, I finished A level and have uni offers for Bsc computer science 3 years

I have a offer of a level 4 network engineer (where its not just that, they will rotate me on 4 it jobs), where I can do a level 6 after in the one i want to do and get a degree in digital and tech solutions on that job path. They will both take me around 4 years total.

But I will be working for the rest of my life, why should I not enjoy social life/young life at 18 and have time to do things as uni is a couple hours a day. Rather than getting into 8-5 and working for the rest of my life (60 is average retiring age).The apprenticeship is a 8-5, but I will need to wake up at 5am and will get home at around 7. So more than a 12 hour day 5 days a week from september. I won't have time except weekends, but I don't know if I will still be working on projects etc.
The Level 4 training is online, I will get 15 days off across the 2 years to do the online stuff. And the level 6 is online too by QA, not uni, for 56 days across the 2 years.

I am worried I will regret in the future not enjoying my young life, by going to uni getting a placement year/internship, having that free time with friends/social life, .and getting the same job I could get in the apprenticeship.
Also, i will be their first apprentice. So there will be noone thats 18, youngest are grads (21/22). So noone like me

(Paying for uni is not a big factor for me, so debt is not a factor for me as a con to going uni)