How to be more employable
As a 2020 graduate I'm struggling to get into the career I would like and haven't had much success with graduate scheme applications. I understand it's been a rough year and there's probably loads of people in my boots but I'd like to make myself as employable as possible to one day land a job in either consulting / commercial banking / corporate finance. At this point I'm doubting whether I'm good enough to ever land a job in these areas or whether i just need to take steps to make myself more employable
For a bit of context, I graduated with a 2:1 in economics and accounting from a russell group uni this year and have since been living with my parents and working full time in a supermarket. I haven't been the most career focused person until graduating and spending time to think out my options and what I'd like to do with my future. So other than my degree I don't have much to make me stand out as an applicant, I didn't do an internship / summer scheme, and my work experiences wouldn't have any relation to the job roles. I enjoy learning and tough challenges so I think I would enjoy doing a masters but for financial reasons and being unsure on what career I'd like to enter I decided to take a year out after graduating.I do however have an offer for a top 20 Audit ACA scheme which starts September 2021. Whilst I believe I could pass the exams, it's not something that particularly interests me but rather a potential stepping stone to the careers I am interested in ( albeit a 3 year detour).
So I've thought of a few potential options that could make me more employable and would really appreciate some advice
Option 1:
Carry on working and saving so that I could afford a masters in the finance area, and apply for graduate schemes whilst doing the masters. This is a big risk for me as I would have to save a significant amount of money to afford it and worry I will be in the same position after completing the masters anyway.
Option 2:
Take the Audit ACA offer and apply for a more interesting graduate scheme for the following year. I'm not sure if this would work in my favour or against me that I would be studying towards ACA at this point, would this be seen as good work experience or make me seem indecisive and a bit flaky.
Option 3:
Stick out audit for the 3 years and attempt the move with being fully ACA qualified. My main concern here is that I would unlikely be considered at entry level due to the 3 years work experience and would be competing with people with experience in their desired areas as well as big 4 Accounting graduates that are attempting to make the same move.
Ultimately it's a decision I have to make but any advice or suggestions would be really appreciated.
For a bit of context, I graduated with a 2:1 in economics and accounting from a russell group uni this year and have since been living with my parents and working full time in a supermarket. I haven't been the most career focused person until graduating and spending time to think out my options and what I'd like to do with my future. So other than my degree I don't have much to make me stand out as an applicant, I didn't do an internship / summer scheme, and my work experiences wouldn't have any relation to the job roles. I enjoy learning and tough challenges so I think I would enjoy doing a masters but for financial reasons and being unsure on what career I'd like to enter I decided to take a year out after graduating.I do however have an offer for a top 20 Audit ACA scheme which starts September 2021. Whilst I believe I could pass the exams, it's not something that particularly interests me but rather a potential stepping stone to the careers I am interested in ( albeit a 3 year detour).
So I've thought of a few potential options that could make me more employable and would really appreciate some advice
Option 1:
Carry on working and saving so that I could afford a masters in the finance area, and apply for graduate schemes whilst doing the masters. This is a big risk for me as I would have to save a significant amount of money to afford it and worry I will be in the same position after completing the masters anyway.
Option 2:
Take the Audit ACA offer and apply for a more interesting graduate scheme for the following year. I'm not sure if this would work in my favour or against me that I would be studying towards ACA at this point, would this be seen as good work experience or make me seem indecisive and a bit flaky.
Option 3:
Stick out audit for the 3 years and attempt the move with being fully ACA qualified. My main concern here is that I would unlikely be considered at entry level due to the 3 years work experience and would be competing with people with experience in their desired areas as well as big 4 Accounting graduates that are attempting to make the same move.
Ultimately it's a decision I have to make but any advice or suggestions would be really appreciated.
Fellow 2020 Econ graduate here, applying for jobs and grad schemes in Finance/Accounting/Tax.
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Original post by 1234m5678
Fellow 2020 Econ graduate here, applying for jobs and grad schemes in Finance/Accounting/Tax.
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Yeah check the contract, it will tell you what happens if you want to leave early.
But by the sounds of it, I think option 2 or 3 would be best. The issue is for banking/ consulting you generally need work/ internship experience so even with a masters you could still struggle a lot.
Original post by 1234m5678
Fellow 2020 Econ graduate here, applying for jobs and grad schemes in Finance/Accounting/Tax.
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Just wanted to point out that option 2 might not really be an option, as I know that some companies don't let trainees leave from their training contracts before they're fully qualified, unless they pay the company. This is to cover for the company's expenses for tuition, exams etc which actually costs them a few thousands. Idk if you already checked this with the company you have an offer from, but it might be worth doing so before accepting an offer and leaving the following year.
Best of luck, you're not alone!
Should be sending out the contract soon so i'll have to look into that. Best of luck!
Original post by tjames988
Yeah check the contract, it will tell you what happens if you want to leave early.
But by the sounds of it, I think option 2 or 3 would be best. The issue is for banking/ consulting you generally need work/ internship experience so even with a masters you could still struggle a lot.
But by the sounds of it, I think option 2 or 3 would be best. The issue is for banking/ consulting you generally need work/ internship experience so even with a masters you could still struggle a lot.
Thank you! I would love to get some internship / work experience I just don't know where to start, cant find any opportunities to get experience other than grad schemes and that's the bit I'm struggling with. Would you consider an ACA qualification relevant experience for banking / consulting?
Original post by yoyo1230
Thank you! I would love to get some internship / work experience I just don't know where to start, cant find any opportunities to get experience other than grad schemes and that's the bit I'm struggling with. Would you consider an ACA qualification relevant experience for banking / consulting?
I don't work in banking/ consulting so I am not sure. If you know anyone in those industries ask them or network on Linkedin in, they should be able to tell you about people moving over from accountancy.
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