If I cannot get a job within an accountancy firm in the UK because of ageism, should I just prepare to start up my own accountancy/tax firm without ever having worked for one?

If I cannot get a job within an accountancy...

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I have been told that a lot of accountancy practices want to take on 16 to 21 year olds because they make employees of that age stay on for a seven year contract of mostly training and then working for a particular practice. And job search engines online only show jobs within accountancy practices for those who have ever worked for an accountancy practice before.  But the only reason I studied accounting and changed my career in order to become an accountant and train for the ACCA was to work within an accountancy practice especially because I would like to have my own one day preparing accounts and taxes.

I'm no spring chicken, I'm more of a 'summer chicken'. But I currently work in the Accounts deartment of an independent academy and also for a charity/not for profit organisation. I never wanted to work for a school at all and I. Cannot. See. For. Myself. Walking. Into. That. School. Or. Any. Forever. Doing. Their. Accounts. Work.

No.....Just no. Otherwise I may just as well give up studying for the ACCA or even ATT and just find something else to do again. I never wanted to become an accountant to work for somebody else forever and ever EXCEPT for my own clients.

But if no one cares about any blatant ageism that accounting firms may be practising and any other barriers that they may be putting up, should I come to terms with starting up my own accountancy practice, after I pass all my ACCA exams, in the hopefully not-so-distant future? Can working in accountancy in commerce/industry help prepare me for working within my own practice one day in any small way or large way?

I don't know why I have to shelve my real plans like that when the reason I studied accounting was to have my own stable business?

Should I move to a country like the US where there is less bureaucracy and ageism regarding this kind of thing? Or any other country? Or is there still a way in the UK to get to where I want to go?

Please kindly advise.

Replies (11)

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By petersaxton
02nd Oct 2013 01:18

Ageism?

You haven't got the right experience.

If you set up a practice with no experience it would be a disaster.

Try to get sub contract work from accountants.

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Replying to lionofludesch:
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By Maslins
02nd Oct 2013 10:16

Ageism?!

petersaxton wrote:

You haven't got the right experience.

If you set up a practice with no experience it would be a disaster.

OP - appreciate it's not the answer you're looking for, but I agree with the above.

You sound very bitter.  Don't get angry at employers because they don't want to employ you.  You may well be "competing" against 20 year olds for the same job...but I'd be surprised if it's simply age that's stopping you getting the job.

Quite probably you expect far more than the others going for the same job.  They're probably a lot more humble and eager to learn.  Your post suggests you feel like you know it all, which won't put you in good light if applying for a low level trainee role, and you don't have the experience to go for much higher.

To start up any practice as a qualified firm, you typically need at least 5 years experience.  3 year training contract, 2 year post qualified experience.  There's a good reason for this.

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By merlyn
02nd Oct 2013 07:24

I have been told..

Who exactly told you this was the case ?  I don't know of any accountancy firms who sign people up to 7 year contracts, some will make you repay training if you leave within 2/3 years but thats about all.

As Peter said don't start your own practice as you have no experience so unless you have deep pockets and can afford to employ people who do then it will be a disaster.

Think about getting a different job at an accountancy practice (ideally a big'ish one) so you can get a feel for how they work, put in the hours and then when a vacancy for the job you want comes up you can apply and will be much more likely to get it than someone outside the organisation.

 

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By Ken Howard
02nd Oct 2013 08:05

ACCA practising rules

Do you realise that ACCA rules mean you can't "practice" as an accountant without a practising certificate, whether you're a student or member.  To get a practising certificate, you need the prescribed and confirmed period of experience (2 years I think) of working in practice under the supervision of a qualified accountant.  

So, basically, if you do start a practice on your own, you'd have to relinquish your ACCA student or full member status.

It's not ageism, it's experience-ism.  Academic qualifications are only half the story, experience is just as important, if not moreso, if you're planning to let yourself loose on the paying public - that's why ACCA prohibit it without you having a practising certificate and meeting the experience requirements.

Firms will only pay a "trainee" level wage for people without experience which is why you perceive it to be an ageist issue, which it isn't.  There are plenty of smaller accountancy practices who'd bite your hand off to employ you if you were willing to accept low pay for a year or two whilst you're getting that essential experience.  I suggest that you contact some specialist accountancy recruitment agencies and also write to smallish local practices (rather than the top firms) to speculatively ask about employment opportunities.

Not much point in studying for ACCA only to have to resign it if you want to run your own practice due to not being eligible for a practising certificate.

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By Kirkers
02nd Oct 2013 09:15

When you say there is ageism you don't actually specify your age. Are you 30? 40? 50? 25? I think it's more about experience rather than your age. You need to be prepared to take a low wage and start as a junior, even though you are an ACCA student. And by all means if you feel that starting up on your own is best for you, nobody can tell you what to do, but I'm not sure you're aware that you will have to relinquish your ACCA membership when you pass and work as an unqualified accountant, as ACCA require 2 years experience in practice working under a qualified accountant to gain a practising certificate. If you don't have one, you can't use your ACCA.

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By zeofiles
02nd Oct 2013 09:20

Experience is key

I can honestly say that when recruiting we have NEVER based our interview selection on the age of the candidates.  However, a large part of our criteria is relevant practice experience.  We wouldnt even consider CV's of applicants for semi senior / senior roles if they didnt have years of suitable experience.

I know its difficult to get experience if you can't get a practice job.  As others have said, the only way to do this is to become a trainee and accept a salary which is probably significantly lower than you expect.

There is no way you could work for yourself without experience.

Sorry

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By Samson
02nd Oct 2013 10:51

ACCA practicing rules

This is so sad to hear. I almost can feel how eager this man is to practice his passion. Accountancy bodies such as ACCA and CIMA should start thinking of providing that experience for their members, its frustrating ,after studying, investing so much money just to acquire the profession then after you complete you get stuck with your certificates.Accountancy bodies should think of partnering with Microsoft or many other computer tech firms and start coming up with virtual firms not in the real world(like a computer game) in which people can buy the package and gain the much required experience. I can come to Microsoft and help come up with such a package.

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By Samson
02nd Oct 2013 10:57

FOR ACCA & MICROSOFT

[email protected]

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By ccassociates
02nd Oct 2013 11:19

Mature

Look at the positives. Firms are likely to employ someone who has life experience and can communicate effectively with their clients on a personal day to day level.

Smaller firms are more likely to employ you but you must accept that you are only going to be offered the same wage as someone who is at the same stage of studying as you are.

So you should expect no more than a 20 year old who is at your level and possibly far less than a 25 year old who has the qualification and experience and that is reasonable, as like the 20 year old you will be starting at the bottom.

Dont become despondent just accept what is financial reality, it is not ageism, just because someone is older it doesn't automatically make them worth more.

I love your description "summer chicken" but unfortunately that makes me an "old [***]"

 

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Replying to joannemc85:
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By akeyne
25th Nov 2013 15:49

Thank you ccassociates...

I haven't looked at this in so long because I thought I'd be ignored! LOL

I have applied for Trainee level positions with both practices and within commerce/industry positions. I have emailed my covering letter and CV to small local accountancy practices. I don't expect more than what I'm supposed to get from a Trainee level position without prior accountancy practice experience, I never did.

But after applying through so many different channels, in different ways, I don't know what I'm supposed to think people in real life offline think that accountancy practices are ageist when they're looking for employees also and so do people on AccountingWeb on other Any Answers posts from what I've read which is what frightened me so much as to start this post.

 

I just don't know. Where I work I see the auditors send junior auditors in on a quarterly and annual basis and they're all baby-faced as heck. Is this the way it's always going to be. Is the door closed in my face because of age and will I have to open a window by starting by myself somehow even if I've only worked in industry for five years for ACCA Approved experience as opposed to an actual practice?

 

 

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By petersaxton
25th Nov 2013 19:04

Get notifications?

You don't need to come here to check if anybody posts - you just ask to be sent an email when somebody answers.

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