To ask the best degree to do in order to earn the most

[Vitalic]

I've never been money-oriented and did a degree in my twenties in a very specific subject that interested me but which is never going to earn me much money. I only got a 2:2 plus it's such a specific subject I'd be surprised if it would get me into an MSc in anything useful.

I currently work to support myself and young dd in a field unrelated to my degree and in which there is no potential for progression or promotion.

I'm now completely sick of being poor and want to retrain in something that will earn enough for us to be comfortably off.

I have enough saved plus can get a career development loan to fund another undergraduate degree.

Please could anyone advise me what I should be looking at in order to get the most well-paid job possible following this? I have a BSc, am pretty good at maths, have good communication skills and lots of experience in various fields.

I was considering med school and scored well in practice GAMSAT exams - these aim to assess your capability in a variety of areas so I guess that's a good indication that I could potentially do well in various types of studies/jobs.

Would be very grateful for any advice

Good luck Vitalic. Linked in is your friend in this business too by the way so make sure you create a good profile. Recruiters use it all the time in our business.

Accountancy.

There's no such thing as a poor Accountant! And less risky/cutthroat than investment banking.

Law is useless now. Oversubscribed, not enough jobs. If you're lucky enough to find a relevant job, you'll be at the bottom of a very big barrel for a long time, working insane hours and earning little.

Economics etc. are great if you're into investment banking. But it's hardly a career for everyone. There's a reason that there are a disproportionate number of psychopaths in high finance.

Maths is a good bet though. If you like it and are particularly good at it.

@ethelfleda yes, prob should have said that being an architect and running a small practice can be very rewarding but not a sure path to riches! think you need to be both a good designer and good sales. You spend a lot of time tendering..,

I am laughing at the nutters who think a 7 year medical degree and night shifts is worth it for what doctors get paid. A newly promoted consultant gets about 65k, after about 12 years of work. In the big city firms, newly qualified lawyers (age 24) earn more than that. Doctors are grossly underpaid compared not to lawyers, accountants and investment bankers/traders.

IT is a really well paid field, and you don't need to have a traditional red brick type background (unlike law) to get a well paid job in it.

Corporate aviation..some flight attendants are paid upwards of 60k a year.

I'm starting out in law. Starting salary £25k, goes up to £27k next year, £35k on qualification (this year's numbers). Lucky in that they're a good firm without wanting you to sign your soul over to do 18 hour shifts.

But I stress the word lucky! Absolutely flogged myself on my degree (not red brick) and did a lot of unpaid work experience. I worked out between work, placements, uni and volunteering I was hitting 60 hour weeks. And about 5% of my very small cohort (under 60) have training contracts. They're like hens teeth.

Another for don't do another degree, professional qualifications on top of a degree are the way to go for a good salary. I also have a 2:2 but with quite a few prof qualifications including management. A lot of employers are looking for staff in more senior posts who show a commitment to professional development.

Project Management qualifications - Prince 2 etc are a good start for getting up that ladder.

I would do a conversion Computer Science MSc. It would probably cost about 1/4 as much as degree and only take one year. There are probably even some distance learning ones (from proper universities).

A woman I know has a masters in evaluation- didn't know it was possible, myself! - and has set herself up as a consultant. Everyone from small arts organisations to large government departments seem to throw scads of money at her to design evaluation plans and help them collect and use meaningful stats. Fascinating.

Accountancy has been a good choice in the past. Unfortunately, the lonterm future for finance and accountancy graduates now looks very uncertain as software and artificial intellingence will have a major impact in the area. The future strength of the finance and banking sectors in the UK is also uncertain as Brexit could have a devastating impact in the coming decades.

While some law graduates do fantastically well, not everyone with a law degree will end up in a high-paying position in a top firm. Far from it. Many graduates find employment in other areas and some end up in relatively low-paying jobs longterm. Also, fewer graduates will be needed in the coming years as software and artificial intellingence have made major strides to reduce the tedious work of searches, etc.

The advantage of a degree in medicine is that practically everyone who qualifies will eventually end up in a reasonably well-paid job. It is not easy money, not by a long shot, but few qualified doctors end up unemployed. The UK will never have enough qualified doctors.

Yes to professional training as an alternative - although see another current thread about a "digital marketing" course before shelling out. There are proper courses out there, leading to actual qualifications (Prince 2 has been mentioned already).

If I had the money and the time, in your shoes I would absolutely do a conversion MSc though, as suggested by badtime. I get pretty good professional training through my employer though (leading to industry standard, recognised qualifications) so currently there's zero chance they'd help fund an MSc for me.

I've got family members who are accountants and doing very well. Is it possible to study accounting without being employed though? My situation dictates that I cannot work out of the home at present.

I think the threat to accountancy from technology is overstated. I will still need someone to do my annual accounts, despite being able to run most through my accountancy software. You can also use accountancy towards financial directorship and similar strategic roles.

I know it's been said repeatedly but I will say it again: doctors are comparatively not that well paid considering cost of training, cost of maintaining professional qualifications, unsociable hours and long shifts.

I haven't seen the digital marketing thread but Ds works as a digital marketing analyst. It's a big new field, emerging and fast growing. Also interesting and mix of office and client meetings.

He's 27 and just been offered a 70k package. He did economics and politics but they are willing to train good people with mathematical brains.

PM me if you want details of where he has been working.

A patents and trademark solicitor. Ideal if you have a specialist background/science back ground.

Train as an accountant, either ACA, CIMA or ACCA. I don't have a degree but am ACCA qualified and earn well. Newly qualified can earn c£30k, middle management c£50k+, senior management to FD £65k+ to over £100k. It's way more than just numbers and I have been involved in all sorts of roles over the years and have found it an interesting and challenging career.

I'd back that up. I'm also ACCA qualified. I do have a degree, although it wasn't a necessary precursor to the accountancy training.It's hard work but the salaries are good. As you've already got a batchelor's degree, it's worth considering going straight into the professional training.

Good luck

Accountancy has been a good choice in the past. Unfortunately, the lonterm future for finance and accountancy graduates now looks very uncertain as software and artificial intellingence will have a major impact in the area. The future strength of the finance and banking sectors in the UK is also uncertain as Brexit could have a devastating impact in the coming decades.

Couldn't disagree more. AI is just that: artificial. Accountancy is about way more than bean counting and number crunching. You can't replace the amazing brain with any software. Trust me: I'm an accountant .....

Oh, and accountancy is interesting, too. I mean, REALLY fascinating. Don't get sucked in by the urban myth that accountants are boring. Some are, most aren't: same as with any profession. It's a chance to look into the core of an organisation and find out what makes it tick. Or to provide much sought after support to people who don't have the necessary skills (if you choose to work in practice).

I loved it when I started. I still love it today

Have you considered OU and working whilst your DD is still young. It's easy enough to study when they are asleep.
Most of the jobs mentioned will require excessive hours in the early days and is unrealistic as a single parent.
An MA in something you are both good at and will get you a job may be more useful than another degree.
You will be older than most graduates and be more limited in the hours you can work.

MsGame, yes you can study accountancy from home without being employed. You would have to fund it yourself but the training provider I used now run all of their courses either at the training centre or online. You have access to online webinars and can still contact the tutors for help. Lots of the trainers at my last company used the online method and still got great results.

for simplicity definitely do the AAT and get a trainee job at a firm of accountsants to do ACA. it's not as bad/dry as t sounds (even auditing) and is a v straightforward way to earn 50k+

*trainees not trainers

Stevie69 I couldn't agree more! I love my job and it's definitely not boring. I have managed to get involved in and learn about so many other aspects of business through working in finance.

Air traffic controller! My friend does it and earns 80k a year (starting salary was around 50k 10 years ago) and he didn't need a degree to do it but had to pass some hardcore tests like maths.
He has to do a lot of night shifts but he loves it

I came on to say actuary. DH has about half of his exams and earns well. He's a contractor but his salaried colleagues seem happy and well paid.
For the love of god don't do law!