ACA or Masters in Economics

Hey guys

I’m currently stuck between two options and could really use some advice.

I graduated last year with a 1st degree in Economics from a Russell Group university in the UK. I now have an offer for a Master’s at a well-ranked Economics course in Europe, but I’ve also been offered a graduate role in audit at a Top 10 accounting firm in the UK.

The issue is, I don’t know if I see myself working in audit or as an accountant long-term. I enjoyed studying economics at university and I'd say I'm more interested in policy-related roles, economic consulting, or maybe even data science. However, when I applied for these types of roles last year (econ consulting, banking, consutling etc.), I was mostly rejected at the screening stage — likely due to my lack of relevant professional experience (no second-year internship, etc.). This makes me worry that even after completing the master’s, I might still struggle to secure a job in my preferred field.

On the other hand, taking the audit job would give me immediate professional experience and financial security. However, I fear it may not be as enjoyable and then limit my access to an economics/policy career if I decide thats what I want to do.

Would the master’s significantly improve my job prospects in policy/economics, even without prior experience? Or would it be smarter to take the grad job for now and potentially transition later if I decide its not what I want to do?

Any advice would be greatly appreciated. Thanks!!

Reply 1

tasmay6969

Namaste!

I might be of some help here—background: Ex-Big 4 Grad/ Golden Triangle Masters in Econ/ Ex-Researcher, British Parliament.

I finished my Master's in the '21 (post-COVID) market; while I enjoyed consulting, I resonate with you on pursuing accounting with all the pros and cons you mentioned. Although student life has its pros and cons, a degree is well worth it; especially, if you would like to go into policy later, which has significantly different pay structures and lifestyles.

Whilst, ACA will enable you to be a C-suite exec later in life; it will push you into the niche of finance and accounting. All being said, if you check the degree qualification level, both ACA and Master's from Russell Group have the same credentials in the marketplace, it's best to decide based on your personal goals and ambitions, both long and short-term. This will enhance your efficiency to create synergies in your overall competency and personal growth. I wish you the best.

(edited 1 year ago)

Reply 2

elpombo

Original post

by tasmay6969

Namaste!
I might be of some help here—background: Ex-Big 4 Grad/ Golden Triangle Masters in Econ/ Ex-Researcher, British Parliament.
I finished my Master's in the '21 (post-COVID) market; while I enjoyed consulting, I resonate with you on pursuing accounting with all the pros and cons you mentioned. Although student life has its pros and cons, a degree is well worth it; especially, if you would like to go into policy later, which has significantly different pay structures and lifestyles.
Whilst, ACA will enable you to be a C-suite exec later in life; it will push you into the niche of finance and accounting. All being said, if you check the degree qualification level, both ACA and Master's from Russell Group have the same credentials in the marketplace, it's best to decide based on your personal goals and ambitions, both long and short-term. This will enhance your efficiency to create synergies in your overall competency and personal growth. I wish you the best.

Namaste

Thank you sm for sharing.

You mentioned the difference in pay structures and lifestyles in policy roles, how so?

I'd also love to hear a bit about your experience as a researcher in Parliament — what kind of work did you do, and how did you enjoy it?

Thanks again.

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