Thinking about retraining as an accountant... Any other ideas/advice?

[Pitstop1986]

I'm currently a band 6 NHS nurse. Although it's a fairly well paid position - with on calls, weekends and overtime, I earn approximately £45,000 per year. I am however becoming increasingly fed up of the work. The hospital is poorly managed, we are short staffed, there is no morale. Not to mention, once per week I have an on call (often going into a day off, where I have to sleep over in the hospital following a 12 hour shift. So I would work 8am until 8pm, then be in the on call room sleeping from 8pm until 8am unless I am called out for an emergency. Occasionally this can see me working 8am until 8am the following morning. I have a young daughter and by working these shifts, I feel like I barely see her.

I am currently pregnant and due to go on maternity leave in September, however to put 2 children in nursery full time is going to cost the majority of my wage, so I'm thinking of takng two years out until my oldest starts school so that I won't have the nursery fees to pay for her.

I really can't see myself working for the NHS for the next 20-25+ years until I retire and this two years may be the perfect opportunity for me to retrain.

I have considered accountancy before. I am great with numbers, can problem solve and have a very organised and analytical mind. I also very studious - always coming top of my class in school and at university and am always doing extra courses just for fun to keep my mind occupied. Before joining the NHS, I was in the military for 10 years, so have a pretty varied career history

Would it be reasonable for me to think that I would be able to study for my AAT level 1 in my two years off and then join an accountancy firm after that as an apprentice to earn further qualifications as I work?

Can anyone suggest any other careers that would be worth looking into?

If you want to earn well don’t bother with AAT. See if you can get on a scheme where the employer pays for ACA plus training. It’ll be competitive but I think not impossible (easier if you’re near a city)

Honestly I wouldn't go for AAT. It sounds like you could jump straight in with ACA/ACCA/CIMA based on your background.

I would also look at graduate schemes and schemes based on women returning to the workplace. There is no reason why a firm wouldn't take you on and train you up.

Be aware though that you likely wont make your current salary until you are qualified, which will take around three years. In my firm (south east) I believe newly qualified are on around 45kish.

Accountancy might be a bit dull but it does give good entry opportunities to side step. Things like corporate finance (helping business owners sell their business) or tax advisory could appeal to you as well if you like problem solving instead of direct compliance.

Another one saying don't bother with AAT. I'd go straight for ACA or ACCA but with those you'd need to have a relevant finance type role alongside it to meet the objectives along the way and you need 3 years of relevant experience before you can qualify.

Can I jump on this thread too.

I'm a band 6 paramedic and am also fed up with life in the NHS. I live well away from any major cities (in a national park), so it is all small accountancy firms in my area.

What qualifications/career pathway might I be looking at to pursue accountancy in this scenario?

Are you a graduate? HMRC do a good graduate programme. The pay is lower to begin with and there are 3 or so years of exams but it’s good pay at the end. Also an interesting job. Applications normally open in the autumn to start the following September.

https://www.gov.uk/guidance/tax-professional-development-programme

You can do finance in the NHS. Most trusts will put you through your exams whilst working in a low level finance role in their department.

Don’t bother with AAT, just find an employer who will support you with ACA/ACCA. Either look for a grad position or an accounts assistant type role and make it clear you want to do exams and progress.

Just want to put in a note of caution. You are unhappy with your current job but that doesn't mean you need to leave the profession and start from scratch in a new one. It would be easier to switch from hospital nursing to community or GP surgery nursing or just work fewer shifts. You would have less stress and no need to get more qualifications while raising young children. Nursing is one of the professions that gives the most flexibility on working hours out there. If you are a newly qualified or trainee accountant working long office hours Monday -Friday you will miss out on a lot of time with your children especially as you will have to come home and study in the evenings. I wish you well with whatever you decide but I worry it might be a frying pan to fire situation.

If you're a graduate you can apply for apprenticeship graduate schemes with CIPFA to become a public finance accountant working with local or central government and the NHS. It will take a number of years of working and studying for the exemptions but at the end there is a vast number of opportunities for those that are qualified.

I'm doing the AAT. I'm a graduate, not a recent graduate, looking to change career. I couldn't get anyone to take me seriously for a career change, although I got to the fourth round of interviews for one, so I had to do this method.

My advice would be that you definitely don't need to do AAT level 1. Most people start at level 2. I've managed to get an entry level job on the back of it but the pay is dire and some of my classmates from the evening class are also finding that the entry level jobs give very little opportunity to practice what you've learnt. It's extremely frustrating and I'm not sure I'm really breaking into finance/ accountancy roles by what I'm doing.

Might be trickier than you think. Very occasionally you hear of very bright and dedicated people buying the study guides and sitting the ACA papers themselves. (The first 12, final 3 comes later). But you'd still need 3 year practical experience to qualify. Plus the starting salaries, even for trainee graduates ACA is very low. (About £21k - £26k). Can you afford to go that low?