AIBU to finish my accountancy training and degree in my late forties?

[Merryoldgoat]

Am I too old to finish my training? I’ve been a PQ accountant for years and earn decent money for my level of qualification - about £67k fte (but I only work PT so actually earn nearly £50k). I’m 48 and after tricky times with my boys life is a bit more settled.

I have the opportunity to do a degree apprenticeship at work and could start in Y2. I don’t have a degree but my qualification is equivalent to Y1 of a degree so with the on the job training I’d end with a degree from an RG university and exemptions from most professional accounting qualifications. I could add another year of study and be fully qualified and with my experience likely get a role paying significantly more than I earn now - I’m regularly approached for roles paying £80k - £100k based on my experience but once they find I’m not fully qualified I don’t get any further so I’ve reached my ceiling I think.

I just don’t know if I’m mad to do this. I feel like I’ve lost quite a lot of confidence professionally even though I’m good at my job - the next step is quite daunting.

I feel old but, in reality if I come out fully qualified at 51/52 I have another 12-15 years of work ahead of me so doesn’t seem that mad.

Any thoughts?

Without a shadow of a doubt go for it

I’m regularly approached for roles paying £80k - £100k

what are you currently on?

Definitely do it

DO IT! That sounds like a brilliant opportunity

Go for it!

If you're a PQ accountant would becoming fully qualified be the equivalent to a degree and may be more useful as more practical?

Good luck in whatever you choose. You're not too old at all

I had similar thoughts about my music degree, although a bit younger. I had a teaching qualification already, and grew into specialising, when a friend of mine tried to persuade me to join him on a part-time course (evening study while still working, which was available then) Because it was part-time, it would take four years, and I demurred, "But I'll be forty by then!"
His retort was, "You'll be forty in four year's time anyway!" which sounds bleeding obvious! But somehow nobody had put it quite like that ; I know that sounds ridiculous.
But I know what you mean perfectly well; I had a decent job which I could carry out competently but lacked the confidence to branch out into more demanding roles.
As it turned out, I was "excused" the first year because of other roles I had taken without being properly qualified on paper, and I finally got the degree. Having that formal qualification gave me that boost I needed.
It sounds as if you would be able to continuing earning and supporting yourself and DS while studying, so you still have that back up, and as for being 51/52 by the time you qualify - who knows where the retirement age will be by then? You could be earning more to put by personal contributions to a private plan, giving you the option to go at a time of your choosing, or easing into part-time work, rather than flogging on until you drop!
As a side note, it broadened my horizons and social life in ways I never anticipated, but that's another story.....

£67fte but earn just under £50k part time

Absolutely go for it! Good luck.

Yes but it will take longer - the degree will give me exemptions from all but the final 4 ACCA exams so this is both cheaper and easier to manage with work.

Thank you - what’s really funny is I said almost exactly the same to my friend who qualified as a teacher last year - ‘you’ll be forty seven regardless so do it!’ but somehow I didn’t think this way about myself.

100% go for it! You are in your prime!

Thank you everyone. My boss is encouraging me to do it so I’ll apply and see - they could say ‘no’ so why not I suppose?

My knee would disagree 🤣

That makes sense. Go for it.

I teach for the professional qualifications.

So which exams have you passed so far for which qualification? The ACCA qualification is changing, so you would only need to pass S1 (currently SBR), S2 (currently SBL which would need to get sat as your last exam under a L7 apprenticeship) and 1 of the 5 options papers (currently 2 from 4) if you have exemptions from the first 2 levels.

How long ago did you start your original qualification and would you be switching to ACCA from another one? You might already have more exemptions or relevant passes than you think.

I think you should do whatever it takes to qualify as an accountant. If this is the quickest, easiest and cheapest way to do that (and it sounds like it is) then do this. If there is another easier way - do that.

But being a fully qualified accountant will make a huge difference in your career aspirations.

I have CIMA CBA - I can’t do a L7 apprenticeship as they are reserved for people under 22 now.

Sorry - I got my CIMA CBA L4 in 2010

If only that information had been in the very first paragraph of the OP

😬🤣

Please go for it. I did last year, I'm older than you! but did CIMA in 4 months, after failing one of my ACA papers 22 years ago when pg with ds1. I'm so glad I did it.

I'm looking for new jobs because my current part time one whilst lovely, I have outgrown and I am very underpaid.

The recruitment consultants now treat me very differently. Which I dislike, because it sits so uncomfortably with me - i.e. I'm exactly the same person as I was last year, yet you now treat me so differently, just because I've now got this qualification? But it really does seem to be the case.

Good Luck!!

Absolutely go for it. I did a second degree in my 40s and a professional qualification and it’s given me a lot more confidence.

You’ve got up to 20 more years of work, why not do it at the level that gives you the most satisfaction (if that’s true for you. Do it for yourself though, not to prove it to anyone else!).

4 months?! Wow! But we’ll done - what an achievement ❤️

Go for it! You are not too old and this seems like a brilliant opportunity. I don't know the details of the accountancy profession or qualifications but there will be people upthread who do. You need to look at the broad picture of where accountancy is probably going in the next two decades and make a decision based on that.

I had reached my ceiling in a profession for lack of a degree and I went to uni in my early 40s. Because I had work and life skills it gave me a huge advantage over younger undergraduates and I got a 1st. However I pivoted into becoming an academic and went on to do Masters and Doctorate. It turned to to be exactly the right move because my previous career was in decline. Fortunately I saw the writing on the wall.