Any advice? - Career change to fanacial/accountanting field

[whosthis]

Hi, first of all, happy new year to everyone! Lots of hopes and joy in 2013!

Would appreciate some insights about this crucial decision to be made.

I'm holding a degree in the accounting field (specialised in tax) and a MBA degree. But my 10 years experience had little to do with this field, except the beginning two years in an accounting firm (one of the top ones then). I worked mainly in the supply chain field for the last 6 years.

Had my baby in October and don't plan to go back to previous company as it's far and the career path is very limited. DH suggested me go back to the finance/accounting area, as there are more opportunities in London area and in long term the experience counts.

But I am just afraid, to start a new path means a huge income decrease. I might need to start from entry level as I don't have any valid qualification in this field.

Could anyone kindly advise, according to my situation, if I take this new path, will my salary be as low as 20k per year?

We just bought a house. DH's salary plus my SMP only just covers our spending. If I am paid only with 20k/year while taking 1k per month for the child care, we would be doing worse than now...

Would be really grateful for any advice or insights!

Top~

I have been considering CIMA qualification. Can anyone help provide some idea about how feasible it is to start from studying CIMA?

Shall I ask my employer for a chance in the finance department to start with while I study for a qualification? Is it a common thing to ask?

I really don't want to work in a firm again - hate the dress code and the way to deal with clients. I did a bit research and find CIMA qualified accountant would mainly work for financial departments in a company. Is it true? Is the hours ok to handle household stuff at the meantime? Any chance for part-time in long term?

Hi, Happy New Year to you too!

Personally I think a move to a different field would be made a lot easier if you could convince your employer to give you some work experience in it..Even if you decide to move companies ultimately, experience is v valuable in showing you are committed to the change!

If you stay with current company and they fund your studies however they will tie you in to stay with them for at least a year post qualification..thats about 4 years to qualify +1..thats a long time if you aren't happy there now! CIMA is definately not a quick easy option!

20k, yes in London/SEast private sector.
Personally I work in the finance dept of a company as do most of my CIMA friends.
Re hours, if and when you find part time work at a qualified level let me know, I've been looking a long time! It is generally FT, at post qualified level unless you are content doing lower level PQ level roles, which obviously pay less overall...and if you are ok with that why go through the toil of CIMA, AAT might be sufficient?

You have an MBA - why not use it better? It's a good thing to set you up for management roles at far higher than entry level.

With that qualification and your experience surely you don't need to start at the bottom again? Go into commercial rather than finance. More money - and if you really want to do accountancy, do Acca which you can do very flexibly.

I do suggest you improve your written English, though. There are a lot of errors in your post.