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Change to Accountancy

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  • 06-11-2014 1:26pm
    #1
    GCR
    Registered Users Posts: 28 ✭


    Hi All
    I know this question has been asked numerous times before as I have read through a number of previous threads on it, but I still have one or two things I am not sure about, and would like an opinion of people working in the field or who could shed some light on the area for me.

    I am looking into a career change to accountancy, I would be coming from an engineering background, Electrician (10yrs) and I also have an Engineering Degree (7yrs), I have done a lot of night study to get my qualifications but I feel I have gone as far as I can with engineering, and accountancy always appealed to me. I am now 34 so I felt like it was the right time to give it ago.

    This year I started the ATI course (Online) with the idea to see if I would actually like it while I continue to work, I am really enjoying it and would like to continue to finish it, and then maybe join into the final two years of the Degree Course in Accountancy in ITT.
    I had done some research and went to the open days and the above is what I got from it.
    But what has me a little confused in reading some of the threads people have posted (and this may be just my take on them) but some people changing careers go straight to employers and enter a training contact!!! If so is the way I have planned above just a much longer way of doing it??

    The ATI / Degree way appealed to me as it would allow me to work on and study in the evening, and I had assumed with having no Accountancy/Business qualifications that I would at least need some qualification to change career, like ATI or a Degree.

    Am I approaching this the right way or am I making a lot of extra work for myself?

    Has anybody on here changed career’s, could you give me some advice?

    Any opinions or advice would be appreciated.
    Regards,
    G


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    #2
    Gard1
    Registered Users Posts: 90 ✭✭Gard1


    Quickest route is to get a training contract and do your professional exams. You can go for the degree but it will only exempt you from a few exams in the first year and it will be 2 years longer before you are qualified. The only advantange of the business degree is that if you decide accounting isn't for you further down the road you could sidestep to another area


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    #3
    Humour Me
    Registered Users Posts: 360 ✭✭Humour Me


    I'm doing this at the moment myself. You will need at least 3 years work experience to qualify so that's why people try and enter a training contract as soon as possible.

    Have you decided which institute you want to qualify with? The degree may give you different exemptions but you can go straight into studying the exams without a contract. If you had a few of the exams under your belt it could help convince an employer to take you on.


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    #4
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    Engineering experience would be useful for auditing such firms and that would make you attractive to certain firms. I'd approach the big four accounting firms and see what kind of feedback you get.


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    #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,988 Mod ✭✭✭✭Jim2007


    GCR wrote: »
    The ATI / Degree way appealed to me as it would allow me to work on and study in the evening, and I had assumed with having no Accountancy/Business qualifications that I would at least need some qualification to change career, like ATI or a Degree.

    Am I approaching this the right way or am I making a lot of extra work for myself?

    I think that you are in a very different situation to most of the people you are referring to, in that you have already began your career and have racked up some good experience and qualifications along the way.

    This means that you are probably in a better position than most to move sideways rather than having to start from scratch on a training contract as most do. For instance, if you had ATI on top of what you have you could probably get involved in project accounting and work your way up from there, without taking the kind of salary hit signing up for a training contract would involve. To get fully qualified you'd still need to pass the exams and get the necessary experience along the way to reach that goal, but it is possible.

    On the other hand, if you want to be a public accountant and offer services from a high street office, then a training contract ASAP is the way to go.


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    #6
    prettyrestless
    Registered Users Posts: 444 ✭✭prettyrestless


    If this is what you really want then go for it! But bear in mind things don't always work out.

    I work with a man who came from a science background and decided to switch to accountancy in his 30s. He did ATI then got a training contract and did the CPA exams. Now four years later, he's just about to qualify but he says he feels it wasn't worth it. Because of his low trainee accountant wages he hasn't been able to afford to buy a house and has sacrificed a lot of personal commitments due to having lectures in the evenings and at weekends.

    Just take some time to consider if this is the right path for you. The grass is always greener....


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    #7
    GCR
    Registered Users Posts: 28 ✭GCR


    Hi All

    Thanks for the feedback.

    Yeah I think I need to do some more thinking on what I want to get out of it.
    prettyrestless wrote: »
    If this is what you really want then go for it! But bear in mind things don't always work out.

    I work with a man who came from a science background and decided to switch to accountancy in his 30s. He did ATI then got a training contract and did the CPA exams. Now four years later, he's just about to qualify but he says he feels it wasn't worth it. Because of his low trainee accountant wages he hasn't been able to afford to buy a house and has sacrificed a lot of personal commitments due to having lectures in the evenings and at weekends.

    Just take some time to consider if this is the right path for you. The grass is always greener....



    Yeah you right and I do understand the grass is not always greener, and my idea was that maybe the ATI etc would give me an introduction into it, before I left Engineering and moved into accountancy, however I am aware that working and studying in an area can be different.

    At this stage the field of engineering I work in means I could always fall back into it, if it did not work out, and I am at a stage in my life it is an ideal time to try it, as I had putting money aside to help out with the fall in wages.

    You right though, think I will keep ticking away at the ATI and consider what is the best path to take.


    Again thanks a mill for all your feedback.

    G


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    #8
    annaP79
    Registered Users Posts: 52 ✭✭annaP79


    hey

    I would be very careful doing what you want to do as you seem to have excellent qualification now, no shortage of work for people like you worldwide (if you can travel) and also in Ireland I would think

    I did career change few years ago, I finished my masters in humanities and started ACCAs and I must say, interesting job and good money haven't materialize as yet and i am after completing F1-9 and on to P levels now

    think about it as in accounts in Dublin at least , it seems you need good connections or lots of luck to find good training place and then well deserved well paid job

    good luck with whatever you do


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