Retraining in accountancy - suggested routes?

[Thisismy3rdusername]

Hi
I've been a secondary school teacher (Science) for 16 years. I want a career change. I've had a small side hustle for the past few years and oddly enough, the bit I liked most about it was my spreasheets, invoicing and tax return bits.
I'd like to retrain to become a qualified accountant. My brief research so far shows a number of routes - I wondered if anyone experienced in this field/had done a similar switch might advise on the best route? I can take a substantial pay cut for a couple of years if needed.

Apply for a training contract so you are working and your employer funds the study.

Don't pay for it yourself and definitely don't study without work experience.

What do you want to be able to do once qualified? That will guide what route to take.

I recommend going down the AAT route, hopefully finding an employer who will fund it won’t be too hard as if you self study it’s not too expensive. Think about whether you are interested in working in practice or industry.
I didn’t go to uni but I showed an interest in doing it when I worked in an admin job, as like you, I found I enjoyed spreadsheets and a bit of invoicing and payments etc. My employer offered to fund AAT for me.
I now need to think about CIMA but AAT is a great base.

Also, have you tried anything like this to be sure before you commit?

https://www.open.edu/openlearn/money-business/introduction-bookkeeping-and-accounting/content-section-0?active-tab=description-tab

The sort of prep / data entry type work you've described enjoying isn't what you'd be doing as a qualified accountant, which is why I asked what your ultimate goal is once qualified.

If you joined a graduate training contract, based on the current market you'd probably be on around £50k upon qualifying (3-4 years). That depends on location and employer though obviously, but even newly qualified public sector are advertising £50k+ now.

Whilst training it's usual for salary to go up in reasonably hefty increments as you progress through exam stages.

I would go straight to one of the chartered/certified routes since you're presumably a graduate. You don't need to do AAT first, it just means you take longer to qualify. (And AAT is a technician not an accountant so it wouldn't be enough alone for someone whose goal is to become a qualified accountant).

The next intake of graduates will start Autumn 2024 in many organisations - for the most in demand places recruitment has already started.

Sorry, last thought... as a science specialist, you could potentially have a lot to offer if you went into tax rather than accountancy and chose R&D as your specialism (at a reputable firm).

Definitely do your training via a company. They’ll pay your fees plus study leave and it’s a lot easier to learn whilst on the job and see it in the real world.

Depends what kind of company you want to work for and how far you want to progress. Most places if you want to be manager or above then you’ll need ACA or equivalent. If you’re happy as a processor then AAT would be fine.

If it’s the tax bit you like then there is the CTA but unless you want to do tax planning then tbh ACA would get you by fine.