Is dh too old to retrain to get a really well paid job

[seasideshimmy]

He's 35 but has no degree. He is very intelligent and got 100% on one of his a level papers and spent a few years doing maths at uni before dropping out unfortunately due to family circumstances.
He then trained and qualified as an accountant. Now he said he is so bored. He is in a commercial role but he wished he'd trained in something that really pays well.
Is he too old? I said I would support him if he wants to study again but he thinks it's all a waste of time now.

Is there anything that he could retrain in that would result in a really good salary? As in a super salary worth living especially frugally for while he trains?

Hmm ...

What do you do? Do you have children? Would you be able to keep yourself if, having supported him through retraining, he leaves you as soon as his earning power improves?

And why are you enquiring about jobs for him? Surely he should be making the effort if he wants something new?

Id suggest working up to CFO while starting a business in something different on the side. If business gets more successful then he could quit the accounting. Otherwise he can work up to CFO and they get paid shedloads.

What do you mean when you say pays really well and how much does he earn now? Does he have money to invest in training?

Without this info it’s difficult to advise

Definitely not too old, I've known several people retrain well into their 40s. At 35 he has plenty of time, as long as it works for both of you.

He then trained and qualified as an accountant. Now he said he is so bored. He is in a commercial role but he wished he'd trained in something that really pays well.

Isn’t accountancy a role which has huge prospects for high incomes though?

Loads of varied “types” of accountancy too, so it seems foolish to throw an entire skill away to start again.

Friend of mine retired in her 40s after doing accountancy since she entered the workforce (last job was a VP of finance I think). She’s now doing a course in something else entirely, just for fun!

I'm 50 and a chartered accountant. I found my thirties (and as a sole parent) a brilliant time of having years of useful experience that was transferable across many different sectors. I'd gone from audit to banking, then worked in media, lectured in colleges, was FC in hospitality, worked in systems training, the charity sector .... does he really need to retrain to change his career path? Loads of options exist already. I proof read as a sideline too.

A better paid accountancy field. I know plenty that are earning 150k plus at the major firms in London

Or retraining as an actuary - he may find that thrilling if accountancy has floated his boat - I know 2 actuaries - they both earn at least 200k

go to local (redbrick type) university to talk to vocational adviser re other degrees & possible courses - has he thought about what else he might do?

If he’s good at maths how about:
Retraining as an actuary
Become a CFA
Get an IMC qualification.
If he can work and study at the same time, that’s always a bonus.

He’s really young! Of course he can change direction, I’d suggest project management, consultancy or specialising in some way.

Short answer definitely not. I retrained at 43 and have a well paid job. I am also an immigrant.

35 is no age at all but I agree it would be good to continue using the skills he already has.

My aunt is a forensic accountant and she finds it very interesting, never working in same place for long, meeting loads of different people, not always in office as she gives evidence in court and works with prosecutors to build cases, something he may be interested in?

You are never too old to try something new, but beware you may not earn as much especially if you are a fully qualified accountant. If you do want to earn shedloads though, suggest training and becoming a plumber!

If he wants a high salary he is well placed as a qualified accountant. He could aim for a CFO / CEO role in 10 years.

Thanks all
To answer a few questions,

Sorry should have specified salary maybe £200k + he's on £100k now but seems to have reached the top of his area after applying for new jobs and getting frustrated

yes can afford to take a pay cut but not no pay at all.
I won't be reliant on him and if he does a runner after my support then so be it, he supported me through my studies
This also affects me too anyway because I need to agree how much help I am willing to put in to support it (we have 1 dd at primary school and no childcare) ideally he will earn more at the end and it's not just a move side ways
I'm asking on his behalf because he won't go on mn himself and I don't mind helping my dh

Actuary is a good idea not sure how long that takes though
I think you need more qualifications for ceo roles? He's thinking to study something Maybe an MBA but not sure if it would be worth it. He may be able to be sponsored as well for that. This biggest entry problem now is not having a degree because it seems agencies are writing him off almost immediately. It hasn't really been a problem until now.

Surprised he is already an accountant. Did he fully complete the qualification? I have never underpaid as one myself. He needs to change sectors perhaps. Unless you are a sales type you would struggle to earn more in general commercial roles.

Just realised he is already on 100k. I world stick at that tbh

@topcat2014 he knows he won't get paid more at this company but when he's looked at other jobs he's also feeling like he's plateaued in his current field so wants to see what options are out there.

Kind of along the lines of doesn't want to just stagnate in the same role forever at 35 and is a bit bored now but obviously can't just run off and do anything as we still have mortgage and commitments etc

If he's already on 100k and this isnt enough and he wants more asap, entrepreneurship is going to be the way. 200k plus roles are generally after decades of experience. He's more likely to get that sticking as an accountant, specialising in a different area of accounting, working up to CFO. If there was a career path you could earn 200k right out of training, I'd love to know about it but i dont think it exists.

Is this a joke? He’s on £100k and bored and wants better pay? How about he’s grateful he got to this level with no formal education whilst half the country scrape by. Ungrateful much 🙄🙄

If he’s a qualified accountant (ACCA / ACA) then he doesn’t need a degree. His qualification is a reasonable substitute and as he’s at the top of his profession the world is literally his oyster.

He could do anything. Banks prefer qualified accountants for all senior roles (nobody cares about if they have a degree or not). Audit, Finance, Risk, HR Financial Crime — there is no aspect of banking senior / executive management that a good accountant would be blocked from.

Another option is a Fintech company like Quickbooks - again they need proper accountants to inform their technology especially as they offer more services. This can be interesting because they will often train up qualified accountants to take IT / programming related qualifications too.

At 35 his priority should be how to use the qualification that he already has to his advantage, not navel gaze.

What are you proposing to live off while he retrains? Unless you earn 80K plus i think it would be very hard to lose 100k a year from a household budget? Especially if you have kids. I cant see how anyone is going to pay a 35y old without lots of experience more than 100K in something new so surely he'd be better off either getting more experienced or taking a flyer and starting a business. Fintech doesnt pay people much more than 150K. Financial trader? Lot of stress and pressure to most jobs that pay 200K, wouldn't you be better off both earning 100k

35 is a great age for an MBA and if he is bored it should help as stimulating plus meeting new like minded people. If he can get sponsored then it saves fees although there may be a claw back clause if he moves job quickly after it. Anyone I know with an MBA has been able to make significant leaps in career and therefore salary as a result.

Amazed that he is on 100k and feels he needs to be paid more. I expect it's possible somewhere but work life balance may be the price he pays. Good luck.