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Have a biomed degree, want to pursue accounting. Should I quit my job

I graduated with a 2:1(honours) (60%) in June 2022 with a non-accredited biomedical sciences degree, and I am about to turn 23. I feel a bit lost and behind many people my age.

I am currently a full-time agency medical laboratory assistant (MLA) earning £10.65 an hour (£20767 a year before tax). I drive 2 hours in total each day for work costing £45 a week in fuel. (This was the only MLA job available in a 30-mile radius that wouldn't require commuting 5 hours a day).

To become a biomedical scientist I would have to do top-up modules at university which takes time and costs money, and then I would have to do a portfolio which costs money and takes 0.5-1 year. There is also a low chance that I would even find a laboratory that will let me do my portfolio, and even then I'd probably have to work for them for a year as an MLA to do so.

I don't enjoy the lab work I am currently doing as they have stuck me in the specimen reception doing the most repetitive non-stop tasks, and I don't see myself particularly enjoying the work I would be doing as a biomedical scientist.

The way I see it is that if I continue down this path, I won't be a biomedical scientist until I am 25/26 and it will be a mediocre grind from there on:
I would start at 27k a year at 25 y/o and based on NHS career progression I'd be on 33k at 30 y/o, then I'd have to complete a specialist portfolio which takes around 2 years and I'd have to wait in line so I'd be on 34k at maybe 34 y/o then stuck at 40.5k after 39 y/o (not accounting for future NHS band pay rises), with further progression requiring a masters degree and waiting in line for a higher-up to retire or leave (or die).
The pay in private companies outside of the NHS is just slightly better.

I want to get into finance, specifically accounting. I can study for ACCA/CIMA in my own time whilst working full time which would take around 3 years which is around the time that I could become a biomedical scientist.
From what I can see, newly fully qualified ACCA/CIMA accountants earn between £30-£40k a year + bonus, and by the time I am 40, I could be earning £55k+ a year + bonus. In addition, I could pass the first stage of one of the accounting qualifications within 1 year which would allow me to work as a part-qualified accountant or in an entry-level finance role with salaries of around 22k-26k.
It also looks like becoming ACCA/CIMA qualified could open many more doors than becoming a biomedical scientist would.

Quitting my current job and finding a job closer to home will not only save me money on fuel but will also free up to 1.5 hours that would have been spent driving, and I could add this time to the ACCA/CIMA study time. Not only this but many local jobs pay more than what my current job pays.

The only thing making me hesitant is that I have spent 3 years of my life on the biomedical science degree, and it feels like a waste of 3 years if I completely abandon the chance of this career - I could continue working as an MLA and use the experience as a back-up if I decide not to become an accountant, but the low pay, petrol cost and 2 hours commuting a day is putting me off. There are no local MLA jobs available at the moment.

Reply 1

shiv-04

First things first, we all go through several career changes from when we start working in our teens/20s until we retire decades later, so you definitely didn't "waste" those years. It's good to have it as a backup as you've said, but also any degree will teach you useful knowledge (I'm assuming you initially chose biomed because you were interested in the subject) and also give you loads of transferable skills, with biomed being a particularly good one for STEM/finance related fields. It's never too late to start a new career, there's no rush. Realistically, veeery few 23 year olds have it all figured out and work in the same career until retirement.

You've mentioned a lot of figures surrounding pay, is finance something you see yourself happy doing? It pays well, but many also find it repetitive and tedious. If the answer is yes though, take the leap. I'd recommend getting something like work experience before fully committing to studying. But again, it's okay if it doesn't work out.

Reply 2

Bisma123

goodafternoon,

i have gotten a IBMS accredited degree in biomedical science and keep get rejected for the medical laboratory assistant role eventhough i meet the criteria fully. could advice me any agencies or application pls :smile:

Reply 3

HealthcareSci

So, firstly, you aren't far behind by not having HCPC registration at 23. I work with lots of graduates who are older. Secondly, once you have experience as an MLA you can apply for band 3/4 without registration which would be a step up and may be closer to home.

Once you have registration then there's no minimum time in any band (or even to work in any band). I got my HCPC registration at 22. Got my first band 6 at 22 (just!), band 7 at 27 and band 8a at 29. You aren't required to have a specialist portfolio to get band 6 - employers must accept equivalent experience.

That being said, it doesn't sound like you['re interested in the career anyway? There are repetitive aspects to the job, but I would remember that that's the same in any job. But from your post it looks like you're interested in high salaries and unfortunately the NHS isn't where you're going to find that. Although I would speak to people who are in these roles and ask about the number of hours they put in and calculate the hourly wage based on that. I know quite a few accountants and those that want to succeed are working 60+ hours every week. I'm not saying don't switch, but investigate the new career by speaking to people doing it first.