Is there anything I can retrain in that will pay me decent money

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I am a ACCA qualified accountant and have a masters degree. I am so bored I feel I can't take it anymore. I'd like to earn 6 figures plus at some point. I am 38 and now wondering if it's too late. Dc finally going to senior school and feel like I can actually have a 'proper' job instead of what I've been sailing along in for the dc.

Is this realistically possible?

As a qualified accountant with a masters degree on top you don’t need to retrain, you just need a more highly paid position.

Thanks @user4750 I'm finding that as I've only worked for SME the bigger companies won't take me on.
Feel rather trapped and my salary wont be going up that much when I apply for new roles as a result.

This is quite a contradictory post - you're bored with your current work, but whatever you do next has to earn you 'six figures plus'. It does seem to me that staying in accountancy would be an easier way to achieve that salary goal. You also don't mention being interested in anything else in particular. I think you're going to have to work out what your priority is - making more money or fulfilment - because you're unlikely to have both fall into your lap. Then you can emphasise the priority (while also trying to include the non-priority).

Maybe your next move needs to be a sideways one into a large company, where you can start climbing the ladder so to speak

You are really lucky that your existing career and skills gives you that earning potential. Very few avenues do, despite the fabled Mumsnet six figures.
If you earn £60k you're in the top 10 per cent of UK earners, a fact which people seem to easily forget here.
You'd definitely do best to focus on finding a new employer where you have the potential to rise up. Retraining will cost you years of time and you'll probably start at the bottom again.

So you probably need a couple of moves to get to the right type of company. Have you actually applied for roles in much larger organisations or are you making assumptions?

there is no magic wand or everyone would be on six figures. The reality is that in order to make a big salary jump you have to put yourself out there and apply for those roles.

my view is that retraining is foolish. You have a highly sought after professional qualification. It’s an employees market in a way that it hasn’t been in a very long time. People are demanding pay rises left right and centre. Retraining will cost you a lot of money, no student loan finance for further degrees, take a long time and then you’re starting at the bottom again. I think at your age it’s a big mistake.

What matters more to you - being interested or earning six figures?

Your current qualifications are the fastest route to a high salary. I wonder if you would benefit from careers support like interviewing techniques etc.

Surely if you want to work in a big company a sideways or even slightly downwards switch to a longer career/salary ladder is possible?

Thanks. I don't have to have 6 figure salary but I don't see why it shouldn't be an ambition. £60k doesn't go far at all in the SE.

I feel like earning more money would help me have a better life outside of work as well as in work.

When I was really bored at work I did a second masters. As a single parent I needed to maintain my existing income level.

Six figures isn’t in itself a golden ticket to a happy work life. Been there done that.

Being able to be there for your kids in their teens is just as important as when they’re younger IME.

You can challenge yourself in other ways.

You have two goals. 1. More interesting work. 2. Massively increasing your income.

It's possible that focussing on achieving the second will stir things up and achieve the the first.

But if the "more interesting work" means you want out of finance altogether, then maybe spend some time thinking what it is that really grabs you and whether not reaching the significantly increased income goal is something you can compromise on for more enjoyment/fulfilment in your life.

You seem ideally placed to be able to attain the income increase if you can move sideways (or even slightly down if unavoidable) into a company with more options. And if you are happy to stay more or less in your field, then honestly, it seems like the world's your oyster. You can work in a lot of industries, if you're willing to either take a risk or move sideways/short-term pay cut.

Or it would mean you need to spend more time working, impressing, dealing with office politics and impacts negatively on your life.

I earn a lot and so does DH but there was a sweet spot on lower incomes which provided a far better work life balance. It’s hard to go backwards though

I wasn't trying to say you shouldn't aim for it, just that retraining is highly unlikely to be the route to that - you're already in one of the few line of works that does easily allow progression to six figures

I feel like earning more money would help me have a better life outside of work as well as in work. There are two big assumptions built in here!

1. A higher salary often (not always) negatively affects work-life balance
2. A higher salary does not equal more enjoyable tasks in work

I think you need to think things through more, you can definitely retrain or progress, but what will really motivate you is the tricky bit.

Do you work in practice or in business? If in business you could look at a move into an functional IT role which would be more project based rather than the monotony of month end after month end (speak from experience here!)

Have you considered opening your own firm?

Take your knowledge and skills into a leadership position. Doesn’t have to be a large company, find a growing one and grow with it, indeed with your skills, I’ve seen many individuals go beyond 6 figures.

I think the limitation here is you.

im a tech expert, went all the way up the greasy pole at a small, then medium and then a large company. Wasn’t any more fun, the money didn’t compensate for the effects on my health. I now do a part time mid level role and so much happier with life outside of work. There’s no stress, it’s just a job - do my hours and leave - job done.

Thanks for the advice. @christmastreefarm I trained in a firm but now work in a SME private company. @Meeting yes I have thought about this. I would need to get my tax knowledge together and maybe sit the tax exams or possibly start up with a more established tax person though because I am severely rusty in this department!

Maybe have a look at the Big4 returner programmes they offer now. Although not strictly a returner it may be a route you can follow to reach higher earnings without retraining and starting right at the bottom again.

The role of financial advisor would give you performance based bonuses which would bring you into 6 figures/mid 6 figure.

You talk to people about their hopes and dreams which you could find fulfilling.

it would mean more exams, but there would be overlap in what you currently know.

@BumblebeeBum that sounds good, I like being with clients, do you know what exams are best to do this job? Thanks

CII is the most recognised awards body. Diploma level is what’s needed to qualify. Most companies will pay for your training. Check this out-

https://www.cii.co.uk/learning/qualifications/diploma-in-financial-planning-qualification/

It’s a male dominated, sometimes toxic industry with strict paperwork requirements, but I assume you are used to that in your current industry.

Thanks @BumblebeeBum and yes sounds a similar industry!