Uni versus Apprenticeship
Moderators: Section Moderators, Forum Moderators
-
Looking for help
- Posts: 3767
- Joined: Thu Dec 18, 2008 11:12 am
- Location: Berkshire
Re: Uni versus Apprenticeship
Just be careful you are comparing like with like. I think 18 is a bit early to commit, if he's not 100% sure. Doing a business degree may give him a bit more time to be sure, plus it will only be 6 years start to finish to qualify as a chartered accountant, 3 at university plus 3 at a CA firm. If he does a 5 year apprenticeship he will still have to study for another 2 years possibly to qualify, although he will be minus the debt. I'm not 100% sure which is best.
Re: Uni versus Apprenticeship
This is a tricky one that cropped up for us recently when DS was on work experience and offered chance of apprenticeship with guaranteed bonus and job at end of it - sorely tempting when looking at uni fees and lack of jobs for graduates.
Was discussing it with family member who pointed out that today's children will, in all probability, due to rise in retirement age, be working even longer than us! So decided to let DS enjoy himself a bit longer and go the uni route. Just a thought.
Was discussing it with family member who pointed out that today's children will, in all probability, due to rise in retirement age, be working even longer than us! So decided to let DS enjoy himself a bit longer and go the uni route. Just a thought.
Re: Uni versus Apprenticeship
LFH - I am confused. Achieving ACCA (AAT in the first 2 years, then on to ACCA) within 5 years, along with a Degree in Applied Accounting from the Oxford Brookes University. So at the end of the 5 year placement are you telling me DS would still not be considered as a 'qualified' Chartered Accountant with work experience to add to his future CV?
He is drawn by the whale of a time he would have at uni, but isn't worried about missing out on 1 social life because he is balancing up the options as a whole:
1: Go to uni but have to work all weekend and most other available times to support his studies. (little time for social activities there.....)
2: Do an Apprenticeship. Work 9 - 5, Monday to Friday and as study is day release he will have to work some (maybe up to 2 or 3) evenings on coursework. Free weekends..... FREE!!!
DS is a sociable person and if he were a wallflower I would encourage him to the uni route so as to bring him out of himself but it isn't a concern. He is very confident, has a wide group of friends and wants to buy (yes buy) his own place as soon as possible to move out of home. I would add here that the plan to purchase a roof over his head may change after y'day he saw a car he liked..... with a price tag of £200k
He is drawn by the whale of a time he would have at uni, but isn't worried about missing out on 1 social life because he is balancing up the options as a whole:
1: Go to uni but have to work all weekend and most other available times to support his studies. (little time for social activities there.....)
2: Do an Apprenticeship. Work 9 - 5, Monday to Friday and as study is day release he will have to work some (maybe up to 2 or 3) evenings on coursework. Free weekends..... FREE!!!
DS is a sociable person and if he were a wallflower I would encourage him to the uni route so as to bring him out of himself but it isn't a concern. He is very confident, has a wide group of friends and wants to buy (yes buy) his own place as soon as possible to move out of home. I would add here that the plan to purchase a roof over his head may change after y'day he saw a car he liked..... with a price tag of £200k
Money can't buy you happiness, but it does bring you a more pleasant form of misery.
Re: Uni versus Apprenticeship
T12ACY it looks as though his decision's almost/already been made. So my comments may already have been taken aboard.
An ACCA is not a chartered accountant, only members of ICAEW and its equivalents in Scotland and Ireland are. Of the others CIPFA is generally thought of as having a similar standing in their (public sector) field and internationally (e.g. World Bank likes CIPFA very much, if an international career appeals to him). However, ACCA and CIMA have the volumes on their side, and over his working lifetime the accountancy bodies may achieve more common ground than they have until now, so it may not matter. He would be a qualified accountant, just not a chartered one. Depending on where he wants to work after qualifying, it may not matter anyway.
It depends which university he was looking to join, although perhaps less so than usual because he seems to have decided to go for a specific degree in the area. A Brookes University degree by itself would have him struggling a little to get a trainee place at one of the top chartered accountant practices who have always recruited mainly (almost exclusively) from a smallish circle of universities. But that may not be relevant because as you say, he's already got a job during and after the five years.
KPMG have been on the news offering to sponsor 75 students at Durham University. If he went on their scheme, he would be a chartered accountant with a degree from a well thought of university after that as well as having trained at a top practice.
That said, there is nothing to stop him getting his own house and his £200k car whatever he does, he sounds very determined. Good luck whatever he chooses.
An ACCA is not a chartered accountant, only members of ICAEW and its equivalents in Scotland and Ireland are. Of the others CIPFA is generally thought of as having a similar standing in their (public sector) field and internationally (e.g. World Bank likes CIPFA very much, if an international career appeals to him). However, ACCA and CIMA have the volumes on their side, and over his working lifetime the accountancy bodies may achieve more common ground than they have until now, so it may not matter. He would be a qualified accountant, just not a chartered one. Depending on where he wants to work after qualifying, it may not matter anyway.
It depends which university he was looking to join, although perhaps less so than usual because he seems to have decided to go for a specific degree in the area. A Brookes University degree by itself would have him struggling a little to get a trainee place at one of the top chartered accountant practices who have always recruited mainly (almost exclusively) from a smallish circle of universities. But that may not be relevant because as you say, he's already got a job during and after the five years.
KPMG have been on the news offering to sponsor 75 students at Durham University. If he went on their scheme, he would be a chartered accountant with a degree from a well thought of university after that as well as having trained at a top practice.
That said, there is nothing to stop him getting his own house and his £200k car whatever he does, he sounds very determined. Good luck whatever he chooses.
-
Looking for help
- Posts: 3767
- Joined: Thu Dec 18, 2008 11:12 am
- Location: Berkshire
Re: Uni versus Apprenticeship
There are lots of types of accountants....Accountant technicians, are members of AATT12ACY wrote:LFH - I am confused. Achieving ACCA (AAT in the first 2 years, then on to ACCA) within 5 years, along with a Degree in Applied Accounting from the Oxford Brookes University. So at the end of the 5 year placement are you telling me DS would still not be considered as a 'qualified' Chartered Accountant with work experience to add to his future CV?
ACCA -Association of Chartered Certified Accountants
CIMA - Chartered Institute of Management Accountants
ACA - is a member of ICAEW, the Institute of Chartered Accountants of England and Wales (CA in Scotland - Institute of Chartered Accountants of Scotland)
It is easy to become confused as there are so many accounting qualifications out there.
The best of these is ACA(CA in Scotland), where you would normally have a degree first and then train with a firm of Chartered Accountants for three years to become qualified as a chartered accountant, although there seems to be lots of routes opening nowadays as to how you train. I think you just need to make sure you have researched exactly what qualification he is going for , and whether that is the same as had he gone the university route.
Sorry forgot CIPFA
