Leaving a training contract

exell1

Hey everyone,
I'm about 6 months into a training contract with a Big 4 firm and I'm coming to the conclusion that it just isn't for me.

I've found the study material really hard to get to grips with but more than that I'm just not motivated enough to pursue a career in accounting. I know it's a risk to leave a secure job at the moment but I think it's best to act now rather than be miserable and end up having to do it anyway in a few years time.

My basic question is whether anyone has any experience in getting out of a training contract. Beyond giving the required period of notice, is it likely that they will want the training costs for the year repaid? I wouldn't complain if they did as it is mentioned in the contract but it's a fair amount of money and I'd just like to be ready for it if that's what's going to happen.

Any tips or guidance would be great.

Hi

I'm sorry that it hasn't worked out for you, you sound like you have given it some thought and just trust your instincts. It is probably for the best that you cut your losses now, rather than wait / waste another 2 years or so.

However, without knowing the frm, it is very hard to know whether they will look for their costs back.

Prettyblack

If its a contract, and you are terminating...they are able to ask for their money back. If they were terminating, they wouldn't. ;-)

IR1SH RANG3R

Hi sorry to piggy back on the topic but my question is very similar. I'm with Deloitte started in October after them paying for a masters for me. My problem is I don't like living in Dublin (Please don't try and talk me into it I just am not settling) and was wondering if I could leave? I have every intention of persuing accounting but in a smaller firm or business and perhaps through a different body than the chartered accountants. I couldn't really afford to leave if I had to pay back all the masters fees and stuff so I need to know about this? Thanks!

blackwhite

IR1SH RANG3R wrote: »

Hi sorry to piggy back on the topic but my question is very similar. I'm with Deloitte started in October after them paying for a masters for me. My problem is I don't like living in Dublin (Please don't try and talk me into it I just am not settling) and was wondering if I could leave? I have every intention of persuing accounting but in a smaller firm or business and perhaps through a different body than the chartered accountants. I couldn't really afford to leave if I had to pay back all the masters fees and stuff so I need to know about this? Thanks!

They paid for your Masters in the expectation that in return you would give them 3 years of work. If you leave after less than 6 months I'd be very surprised if they didn't look for a good proportion of the fees back from you.
Have you considered looking for a transfer to Deloitte Cork or Limerick?

IR1SH RANG3R

Yeah I think I need to ask them but I wouldn't expect them to let me away with it! I don't want to go to Limerick or Cork (I realise I sound like a spoiled child when I have a good job and the state of the country I just thought someone might have been through this before could give me some info, apologies to anyone I may be pissing off )

aca101

IR1SH RANG3R wrote: »

Hi sorry to piggy back on the topic but my question is very similar. I'm with Deloitte started in October after them paying for a masters for me. My problem is I don't like living in Dublin (Please don't try and talk me into it I just am not settling) and was wondering if I could leave? I have every intention of persuing accounting but in a smaller firm or business and perhaps through a different body than the chartered accountants. I couldn't really afford to leave if I had to pay back all the masters fees and stuff so I need to know about this? Thanks!

They'll almost certainly want to redeem some costs, all they'll do is ask though, if you tell them you can't/won't pay that would likely be the end of it. No chance any of the Big 4 will go to courts to get back a couple a grand and in the process generating negative publicity. They don't want to give the impression that the training contract is some kind of prison sentence that once you're in you have to stay in for the duration.

I've known people in your situation, tell them you don't have the means to pay and that'll be the end of it.

In relation to the OP, there's no chance your firm will look to recoup training costs back from you.

Pandoras Twist

In practice they don't seem to ask for the costs back. I know people who failed the masters last year after it was sponsored and while they lost their big 4 contract, the firms didn't ask for the money.

I think you should try Deloitte cork/limerick. Much much smaller than the Dublin branch. The benefits of Big4 on your CV as well as the associated pay, study leave and supports and stuff should definitely be considered thoroughly.

Talk to HR first. They get this stuff all the time. Just throw them an email and ask for advice or a meeting.

ACAguy

I left a training contract in September to go to industry. You seem fairly set on leaving I can understand that.
What is your contract start and end date? What have deloitte paid for you? What area are you in? What exams are you currently studying for?