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 all. I have applied now and will see if I get a place. It’s entirely possible they don’t offer so it may all be moot!

@amigafan2003 thank you. Seems like a great initiative and I’m really excited to try.

Do it! It’s not like you’re saying I want to drop accountancy at 50 and go to medical school. You’re just taking your current skill set to the next level.

Presumably you'll qualify as a highly paid professional for another 25ish years.
Wishing you well 💯

Hopefully nearer 15 but point taken!! 🤣

Thank you for the good wishes.

You go for it - kudos to you !

Why not, if you want to?

Why not give the degree a swerve and just continue with the accountancy professional qualifications? Surely it would be quicker and less studying overall?

I think you should definitely go for it as it sounds like you are very capable and experienced. This would enable you to achieve your full potential whilst still working for your current employer. It would also show your boys what can be achieved with hard work and perseverance.

My advice would be go for it but try and secure that higher paid role as soon as you can before your age starts going against you. Can you tell I am bitter!? 😂 Good luck with it all.

Accountant here.

i would definitely take an opportunity to progress but the degree seems like a waste of time to me. This won’t increase your earnings potential massively compared to becoming fully qualified.

The degree might save you a few exams here or there (based on experience ) but overall you’d be better off just finishing your training contract with a relevant accounting body. Presumably with your experience a lot of those modules would have a base level of knowledge to help you on your way.

Just do it. I did a post grad in social work and qualified at 52 last year. It's never too late.

You'll do great OP. I imagine with all your practical experience, you will to a large extent be formalising your knowledge with the qualification. I am intermittently tempted by the CTA but with a baby I may be around 48 when I emerge with a bit more mental space to consider doing a qualification!

Absolutely do it!

I'm doing a second masters in my 50s (first one is no more use than any other piece of random paper because it's utterly unconnected to what I do now). In my case I used to enjoy my job but it's grinding me down now and I'm miserable, I want a way to move into something I can possibly do from home or hybrid, or at least without being 100% "coalface". Loads of people retrain or upskill in their 50s.

I must say despite quite a lot of years out of studying at this level, and despite not being able to remember what I walked into the kitchen to get most of the time, the masters is far easier than I was expecting. I enjoy all the research, it's just the executive functioning planning and organising that's a bit of a challenge (I'm working full time at the same time and my youngest two are still teenagers). It is quite satisfying.

I have something very fortunate in my favour here - I’m mixed race so I genuinely look about 10 years younger than I am. I absolutely know this is an issue though. Very lucky that my skin hasn’t aged very much.

Just for the people advocating for the professional qual route, the cost and time isn’t practical for my employer or me.

I totally understand why it’s suggested, but I’ve done the calcs and time wise, this is the route most likely to result I success in the shortest time.

This is my hope. I am hoping that Year 1 will not require too much work and then year 2 I can knuckle down a bit more. Then final 3 ACCA examinations can be done in 6-9 months.

It’s a lot with kids.

I had expected to be full time, fully qualified, and earning better money than I am now (although I don’t deny I’m well paid as I am now). But I had two autistic boys. They are both in fully specialist settings with EHCPs and I actually feel having even maintained a career is an achievement at times.

Without the support from DH, family and my manager it may have been impossible.

@HaveYouFedTheFish I properly crashed university first time. I went after mum had died very suddenly and the family chaos was hideous. I actually really think I’d like the studying and getting a degree might help put some 30 year old demons to bed.

go for it and good luck.

just be realistic about career expectations - there are a lot of 50 year old accountants scratching around for the next gig. It's tough out there and senior roles are scarce

This is very kind but my boys would be entirety uninterested unless I either became a computer game sprite or mummy pig.

You really should go for it then - even if the doom and gloom about new roles over 50 is correct, you'll have the personal satisfaction.
Are your boys in residential settings? If not, will you be able to study in the evening and at the weekend? If you've got two older Autistic kids with learning disabilities living with you atm you might need to reduce your hours to have time to study whilst they're at school. You doubly deserve to do this for yourself though!

No - both at home. DS13 doing very well and likely to do GCSEs - very bright but mainstream chaos caused mental health issues. Little one is 8 and like a rhino x Labrador but very sweet. DH is supportive and we havr a nanny who will support too.

Most self-study will be weekends but am hopeful prior knowledge will mean study is minimal for first year.

What an amazing opportunity! You should definitely go for it good luck! In 49 and just finished AAT level 3 which I’ve really enjoyed, I’ve worked in accounts for 20+ years but didn’t have any qualifications so feel stuck in my current firm I’m just debating what I do now, do I continue AAT or do I looney CIMA or ACCA I’m not sure what would be my best/quickest route especially if self studying x

Why are we so critical of ourselves? My finance assistant is currently doing AAT - she’s my age. I’ve been nothing but encouraging and she’s doing brilliantly. Mad I can’t give myself the same encouragement.

How did you find L3? L4 will exempt you from first level of CIMA and ACCA. But if you don’t have a relevant role I’d say it’s trickier. What role do you work in now?

Will your employer sponsor? If so look at BPP and Kaplan as they have great plans.

Go for it love. Met so many lovely older people on my access uni course who had life stuff get in the way but now doing this for themselves a bit older & wiser. Will be great for you!

I’ve used Kaplan to get to level 3 the materials are brilliant, really helpful and I’ve found them very thorough. I’ve felt really well prepared for each exam. I’m stuck now debating do I move to level 4 or go straight to cima/acca my employer would pay for the courses I’m sure they’ve been really supportive so far. I’ve been with them nearly 20 years and I do everything to prep for vat returns, payroll, invoicing and purchasing. My worry is if anything happened in the future with the company I would struggle to get a similar position without qualifications if I was made redundant… there isn’t room for me to progress here, I’ve got 20 years left working and my job would stay the same with small pay rises each year so I’m thinking I should push to do more