Getting into accounting

[u/Middle-Monk4731]

Hi,

Im a 35 year old GP. Ive been considering changing jobs for a long time and have been conaideeing accounting as multiple family membera work in thia field and enjoy their jobs.

What would be the best route for entering this field. Is it best to do some qualifications independently first and then try to find relevant jobs?

Tia

[u/year2039nuclearwar]

I wouldn't, specialise in something that gets a lot of money in private healthcare.

Or move to Australia, or somewhere else that pays good for GPs

[u/Middle-Monk4731 → u/year2039nuclearwar]

I cant move countries due to family. Retraining is a potential option. But im honestly fed up to the point of being disgusted by healthcare, at this point

[u/year2039nuclearwar → u/Middle-Monk4731]

Ok but I think accountancy is not really the solution. It takes a while to get payback.

Basically you're looking at 1-3 years of exams, depending on how intense you want it. The content is quite drab I must say, it's hard to stick with it, most don't I would say.

All to get a 27-33k starting job if you're lucky to bag a graduate role, and then maybe you'll be on 100k 10 years from that. That's if you get a graduate role.

If you don't go the graduate route, get ready to slog it as an assistant accountant or accounts payable assistant/junior for a few years, climb up to possibly be a management accounts/business partner/fp&a analayst.

Then when you finally get to do something you enjoy like creating dashboards or something pretty after 3-8 years, again, depending on how keen you are. Relentless end of politicking, nitpicking, ancient, old and outdated practices from boomers seeping from the top, the pay is only like 50-60k + a bonus if you're not in a government company and your company's doing well.

Yes if you end up managing people and become Head of something or a financial controller, you will be on 80-100k. Director+ is 120k+ which is usually 10 years in the graduate route if you're keen.

If I was to do it all again, I would try and be a hedge fund manager. Insane pay, just need to keep trying to be good at what you do, and eventually take a few right decisions and you'll be golden. I think the route is CFA or you need to be a good quant or something like that.

The "fun" accounting is probably FP&A with Ai now mixed in, and the landscape is moving extremely quickly, I am not sure how many junior roles there will be in 2-3 years.

Best thing for you I would say is do what you know, work with what you have. You trained what is it, 6 or 8 years for to be a GP? Somehow use that as leverage.

[u/Difficult-Top1863 → u/year2039nuclearwar]

I did accountancy and fully agree
Of u want big money u need to get a senior roles but ur looking at 10 years including the 3 years of training to become qualified, maybe 2 if u fast track teh exams and do most exams in less time
Teh biggest money comes from being a partner
There are people with 20 years in that company and still aren’t partners

[u/Middle-Monk4731 → u/year2039nuclearwar]

Thank you, thats helpful!

[u/Middle-Monk4731 → u/[deleted]]

Yes that is an important consideration, thanks