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?

Thank you everyone. My manager is currently writing a statement of support so I’ll let you know if I get accepted on to the course!

I would look at the quickest route to CIMA/ACCA if you want to be an FD. I have had to exclude so many great candidates over the years because theyre not qualified.

Don't worry about an RG uni - nobody gives a shit where you studied as long as you have the qualification.

This is the quickest route that is doable. If I didn’t have to work then I’d just do ACCA in a year but it would require full time study which I cannot do.

This way I can balance with work and only have to do last 4 ACCA examinations (easy in a year self-study).

The RG part is a bonus, the London university I wanted to do has stopped offering so I need to look further and Exeter suits better than the others.

100% do it OP! It’s a great opportunity. Imagine how proud of yourself you’ll be when you finish. And imagine those big fat pay cheques!

Absolutely go for it OP. In reality many of us so will continue working longer so why not. Lots of people I know upskilled and retained their forties . I’m starting a few courses myself in September and I’m 50. You absolutely are not too told and your years of work will stand to you

I’m guessing you’re not aware of the Mature Study and Retraining board on MN, @Merryoldgoat? You could take a look:

https://www.mumsnet.com/talk/mature_students

Please go for it and best of luck to you.

The only thing missing from your posts is the appreciation of the compliment your boss is paying you in encouraging you to apply.

it may just be your natural modesty but just incase there is any slight imposter syndrome going on here, hugh congratulations and all the very best.

its also also a great sign that your organisation overall is offering this opportunity, investing in their existing talent pool. Have at it. Well done.

Thank you all for your kind words and encouragement.

@FinallyHere I never really thought much about imposter syndrome but I do feel like a massive underachiever even though I know I’m good at my job. I suppose I feel like maybe I have tapped out but my manager has written a really lovely recommendation which has made me feel very appreciated.

I won’t bore you with the details but my teens weren’t easy, I lost my only parent in my teens, and life has been tricky at points. This feels like an opportunity I shouldn’t pass up but I’m scared I’ll fail.

Absolutely! Do it.

I'm PQ. Stuck there the last 19 years. Really regret not going to completion when I had the chance.

You can do it too?!

@Merryoldgoat Given that you are reasonably comfortable in doing the job, [i'm stopping myself from saying brilliant, to avoid panicing you] and that your boss supports you, you clearly have as good a chance as anyone. Mature students with industry experience have a demonstratable advantage over new entrants who do not have that experience.

Of course, you are aware that it is theoretically possible to fail. There will be moments when the hill seems insurmountable to you. That's only natural.

Remind yourself that fear and excitement are flip sides of the same coin and enjoy learing and growing. It might not always be comfortable but it will be so good for your self esteem. You have got this.

I was a mature student and had a similar messgae on a post-it pinned above my desk. I can't tell you how often it was the only thing that kept me going. There will be bumps in the road, make sure you have something to hold onto in those moments. They will pass and the tangible evident of gaining the qualification will remain. In time, you will wonder why it ever scared you and be in a position to paay it forward and encourage others, provide a role model of what is possible. All the best.

Ah, cross posted, you are there already. You have got this.

@abitbloodybrighteroverthere i didn’t know about that board! I will check it out if I’m accepted on the course

It doesn’t just cover formal periods of study! Hundreds of the threads are started by people mulling over their options and the challenges they might face as mature students. And other posters offer their own thoughts and experiences of approaching mature study.

I’m only sorry your thread wasn’t posted there! MN don’t promote the board at all, so there must be hundreds of thousands of MN-ers who don’t know it exists. All thinking they’re the only person over whatever age who’s ever considered going back to study beyond 25.

Back again.

It will only be 3 final ACCA exams under the new syllabus if the degree course is chosen wisely, not 4. However, how long would you take to do the degree itself?

If you have already completed Certificate stage of CIMA you could follow the FLP Route for CIMA and complete the whole qualification in as little as 18 months. If you already have a lot of practical experience that could be the quickest and easiest way to qualify.

Thank you for this. This is certainly something to consider then.

The degree is 2 years if they award the exemption. If they don’t I’d need to go in at Y1 in which case I probably would look at a different route.

I will look at CIMA FLP - I did previously but will look again.

Just dropped you a PM

Go for it. I don’t think you will regret it but I do think you will regret it if you don’t go for it.

Wouldn't your employer sponsor you to skip the degree and don't the professional qualification instead? I have sat CIMA including certificate level in 18 months so pretty quick.

Our finance graduate still has to sit 2 levels of ACCA.

OH FFS do it.
Forget about the pay, it is the personal satisfaction that will be the real reward.
But if you can't forget about the money remember that, with a tangible skill/qualification like that, you will be employable virtually until you die so will be able to retire earlier taking private work as much, or as little, as you want.

With no doubt go for it!! It's a brilliant opportunity. Age doesn't matter. It will elevate your career and make you more competitive on the job market. I'm ACCA-qualified and the feeling after you pass your last exam and get your certificate in the post is fantastic

YES.

I think the issue with retraining sometimes is people taking "stand alone qualifications" with no industry contacts or experience or references. Then wondering why they're being overlooked for younger candidates.

This is not you.

Do it - I did my degree aged 38, teacher training degree aged 41 and completed my PhD aged 45. I'm now 48.

FYI I'm a Digital Leanring Consultant (I look after the apprentices) for the Digital and Technology Solutions degree apprenticeship - you'll love your apprenticeship - it's hard work but very fulfilling. Degree apprenticeships make so much sense currently.

@DopamineDeficient the level of study is just too much to do the professional quals that fast, plus the cost is prohibitive for work at the moment.

Thus, if I start at Y2. Exempts me from all but the last three ACCA exams (which will be three after the syllabus revisions).

I cannot imagine how much study it must’ve taken to do 13 exams and 3 case studies in 18 months 😱