A career in accountancy for a third class degree?

I need some advice here, guys. Basically, I didn't have the best results throughout my education - I have finished uni with a third class honours degree in Accounting & Finance (my A-Levels weren't fantastic either). I accept I have done extremely well below my capabilities, and of course I regret it.

Now that I am on the job market, I am finding it difficult to land myself a job in accounting, and I feel that my less than satisfactory results are kinda weighing me down; I couldn't apply for any graduate schemes for a start. As a result, I thought that I may boost my chances if I started studying one of the several accountancy qualifications out there. Do you think this is the best course of action to undertake for me? What would you guys suggest? It may be a bit unrealistic, but eventually (ideally not in a very distant future) I would like to hope to be working for one of the bigger companies - perhaps not for the Big 4, but only because that's probably just a pipe dream.

Being totally realistic with yourself, are you actually ever going to pass chartered accountancy exams? They're incredibly hard and plenty of people with solid academic records fail them.

If you struggle with academic work, then a career which emphasises the ability to achieve academically is not for you. Find something else to do.

This was what a few people I have spoken to have told me. In terms of progression, what's the hard truth for my prospects? Am I just going to be realistically stuck at a botttom/mid-tier firm, or will there be a chance down the line for me to move to a bigger company later on? Or alternatively put, once I've a few years' experience under my belt, would my grades still account for a lot of employers' decision?

On these qualifications by the way, I have (fleetingly) read that for full qualification, e.g. ACA or I think ACCA too, you'll have to also have three years' experience in practice. Did I read that correctly? And does it matter which company you do it with, and does it have to be full time?

Not necessarily, he does need to take a realistic look at himself but academics are really not the be all and end all. You don't actually need a degree to be an accountant remember. It's not unusual to struggle with the learning environment in school/uni and prefer working and studying.

A couple more questions for you guys if you don't mind:
- Which qualification/s do you hold?
- Which between the ACCA and the ACA are more highly regarded in the profession? And aside from that, why should I choose one over the other?

To echo the other answers, you have given yourself a difficult task, but if you have the motivation and commitment, becoming a chartered accountant is not out of the question. To answer your questions above:

Both ACCA and ICAEW's ACA qualification are highly respected: you will find the Big Four and top twenty firms provide both routes depending on their business needs. From an ICAEW perspective - you could join a firm on an AAT-ACA fast-track programme, which means you would start with the AAT qualification and progress to the ACA. You could also take ICAEW CFAB which is a standalone certificate of six modules, giving you a solid foundation in accountancy, finance and business. It's achievable in a year and it is also the first level of the ACA qualification, which doesn't need to be studied in conjunction with a training agreement. It would also give you the chance to see if it is a potential route....

Good luck.

Louise

Thanks for the response, Louise! It's much appreciated to get some from yourself. Having done an accountancy degree, I believe I may be eligible for some exemptions from some of the modules? I've only looked at ACCA's so far, and there're a few ones I would be exempted from. Are ACA's similar too?

This was what I was worried about. I've been looking on the ACA website, and there isn't anything on the list of available training contracts that would take my current educational qualifications.

Interesting you mention the ACCA though. How does that differ with the ACA in terms of the training contract? Would I be able to secure one with them with the UCAS points and degree class I hold?

This was what I was worried about. I've been looking on the ACA website, and there isn't anything on the list of available training contracts that would take my current educational qualifications.

Interesting you mention the ACCA though. How does that differ with the ACA in terms of the training contract? Would I be able to secure one with them with the UCAS points and degree class I hold?

You would have to go the part qualified route aka pass the first 9 papers via exemption or exam. Even then it would be very hard as they are so many graduates with higher degree classifications and ucas points. Your other option is decline any exceptions, do the first 9 papers and dissertation and get the Oxford Brooks bsc and get better than a third,

No, don't worry. I am determined to make it as an accountant. I was just curious as to what the difference in ACCA and ACA was with the training contract situation. I'm getting there, but not quite - so is it just generally more difficult to secure a training contract doing the ACA? Do I have to already be in training before doing the ACA? Or if otherwise, what I'm trying to understand is, if both's exams can be undertaken before training, what differentiates the two?

Sorry, I'm not trying to force myself into doing the ACA. It just genuinely confused me.

By the way, (as I understand it) I will already be exempt from all but the Tax and Audit (F6 and F8) papers of the Fundamentals module owing to my degree. It's not gonna be easy, but I am determined to make something of myself



As mentioned in the above response to this, I will probably be holding a number of exemptions gained through my degree. This intrigues me though...

Firstly, to which does this dissertation pertain? I would guess the ACA as I remember seeing something about a case study (which I assume is what the dissertation would be?) when I was reading about it.

Secondly, about option two - this Oxford Brooks BSc is another degree? If so, does this take as long to attain as your normal honours degree? If I do end up doing better in this degree, would it override my poor result?

Thanks once again for the very informative responses, guys. I appreciate it very much!