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?

I think he needs to move into a more interesting area of accountancy. He wants to work his way up to being financial controller CEO of a multinational if he wants to double his salary and more. I'd start looking at a sideways move to a huge, stable company where the career ladder is clear and there's upwards movement on it.

Very few jobs will get him substantially more than £100k within a few years. He might take a 50% cut for years whilst working his way up. He's very unlikely to want to do that.

But yes to what @Findumdum1 says.

The job my husband now has led to me giving up my job (140k) after our third baby because if the long working hours and travel involved. His salary increases have now negated my income loss to the household. I was carrying all the extra pressure at home as DH went from a job which paid around the same as mine to over double it. If either of us wanted to see the kids growing up I didn't see the option to continue as I was and his potential is still significantly greater.

BUT, I miss work and my own financial independence and I worry about how hard he works. I debate on a daily, sometimes hourly basis whether we should go back to a more even split of work/income as I am concerned about the example of equality it sets for my children, whether we might split up or grow apart.

Sorry for the hijack. Just something to consider. If he does get a higher earning job, there's usually a trade off.

Would he consider a smaller company with more responsibility?

Accountancy can be incredibly well paid, sounds like he is in the wrong job rather than wrong career.

How can you do an MBA if you don't have a degree?

I think professional accountancy qualifications still count as a substitute for a degree?

But he can't do an MBA because he hasn't got a bachelor's degree.

Could he drop to 4 days a week? Then do a degree distance learning. May take a few years.

I work in a dental hospital and we have a lot of mature students studying to be dentists

What is the point unless he is going to do something for the love of it like medicine or teaching. Medicine - x years no income (5 for a grad degree? assuming he could get on without a degree which I doubt) then 6/7 years of being a junior doctor on what 50/60/70k. He might make the 200K by the time he becomes a consultant but hes going to be well into his fifties. Same with law, years training on no income, then at best same salary as now for 5/6 years. ok big bucks after that potentially but not straight away. Maybe trading/financial quant, especially with the Maths bent, but he'd surely have to complete a 3 year maths degree and one year masters at minimum?, all with little or no income. The types of degrees that lead to well paid jobs do so for a reason, they're hard work and you cant do them part time and work in a bar.

I'd have thought being an actuary would be the quickest and easiest way to up salary after some sort of conversion year? Whether you can do that on accountancy qualifications, I don't know. But if hes bored of accountancy Im guessing that would be boring too. Management consultancy? Work way up to C level? Maybe sales based with commission? Who would hire someone with no experience though.

No quick route to 200k I'd say, or everyone would be doing it.

Just seen he's on 100k already. I do actually know of an accountant that brought a dental practice, him and his wife were both accountants and no dentistry knowledge but why not look at investments, property etc instead of re training as something

He does not need to give up work to retrain. Most courses aimed at mature students can be done by distance learning, part time, etc.

That said, as others have written, he has already been trained in something that pays very well. Unfortunately he has got himself into niche that is unfulfilling.

Pay for an executive coach. They are bloody brilliant. They'll help him work out what he actually wants and how to get it. Worth every penny.

Some amazing ideas on here thanks. And also great points on the non financial situations we may have to cover

@fruitbrewhahahe actually is able to start an mba because of his accountancy qualification. Depending on where he does it he can also get exemptions on the finance modules. He passed all his chartered exams on his own studying from a book. This sounds like a good option or maybe actuary exams.

ACA is a Level 7 qualification, alongside Masters degrees.

Would he not be best going to be an FD at a medium sized company? Does he just want a complete change.
If it’s his lack of degree that’s holding him back then I would just get a degree in an area of interest part time through open university or something.
If he just wants to earn more then maybe investing in a business maybe as the FD of said business. Sure there are loads of entrepreneur types that need an accountant on board.

Doesn't he need to become something like managing exec, further up in business, to get higher salary than £100k? So that's about successful risk taking, ultimately. You don't train formally to do that well.

Assuming this is real the way to earn more is to move into higher management, not retrain as an actuary, dentist etc.

@lljkk thanks. It is real not sure why it wouldn't be.

@fruitbrewhaha - anyone can study for an mba if their company sponsors them and they can demonstrate appropriate work experience that would be the equivalent of a degree (approx 5 years). This even applies for Oxford MBAs

Thanks @GrumpyHoonMain His company will sponsor him and he has work experience plus exemptions from the accountancy qualification anyway.
I did chuckle at your naval gazing comment btw

I know so many accountants. They all tend to find it easier to navel gaze about how much better their careers would be (despite earning huge salaries - I know people who made partner by 35 on million dollar salaries etc) rather than do anything concrete to change things. But the reality is there isn’t a senior / exec role out there that most fully qualified accountants couldn’t do / learn to do quickly!

Quick update. Dh said he looked into actuary exams and he was worried the job would be ultimately more boring than what he already does but is aware it pays more. I have no idea what's true or not.

BUT much to my surprise he just called me on his lunch to say he'd phoned up somewhere about starting an MBA this is a massive thing for my dh as it means he's not just moaning and is actually going to do something.

Very grateful for the advice on here and tbh yes part of this was started to stop him moaning about what might have been. I've said he can have one day a week and stay late after work to study if he starts it next year.

I've said he can have one day a week and stay late after work to study if he starts it next year

Huh?
You're going to limit the amount of time he studies?
Do you want him to do well?

You won't ever earn 200k as a doctor.

You won't ever earn 200k as a doctor.

Doing private work they can earn far far more than £200k. They earn themselves stupid

He doesn’t need to retrain he needs some decent career planning. Actually if he’s at £100k at 35 then the decent headhunters will be interested in him. I’d suggest having a chat with some of the big players in his field. They’re very different from recruiters and will be able to give him proper direction

I'd suggest he has a few sessions with an executive/ careers coach to find out what really motivates him and what he wants to do, they can help him put a plan in place.