Knighton Matt Posted 16 August 2006 Posted 16 August 2006 Would-be accountants could be almost £60,000 better off by not going to university, it is claimed. The Association of Accounting Technicians (AAT) compared those doing a college course after school with those doing a three-year degree. By working in accountancy as trainees, it said, college students could make almost £45,000 and still get higher qualifications as quickly as graduates. The undergraduates, however, would run up about £15,000 of debt, it said. The AAT's qualifications involve practical training to fulfil a variety of accounting functions. For its comparison it analysed data from a variety of sources such as the Hays Salary Survey, its own statistics and reports from the Department for Education and Skills. According to Hays, average total earnings during training in the public practice and commerce and industry sectors were £48,081. Typical debts, the AAT said, were £3,450. Alternatives Association chief executive Jane Scott Paul said: "What a student earns is largely down to the individual, and rising stars will be rising stars whether they go to college or university. "What we hope to show through this research is the benefits of a college education that are sometimes overlooked." The association recognises that people go to university for reasons other than to get work-related qualifications. But equally it thinks sometimes youngsters are steered into it without consideration of the other options. Hays regional director Bob Hicklin said: "I am not surprised by the results of this research as the AAT course offers students the chance to earn money whilst they train and avoid the inevitable student debt that comes with going to university. "Although I would never want to put down the benefits of university, I hope that this makes the water a little clearer for those seeking alternatives." Those who want to progress beyond technician status could opt to pursue chartered, certified or management accountancy courses. AAT membership provides exemption from parts of the ACCA, CIPFA, ICAEW and CIMA qualifications. From bbc.co.uk Seriously though it makes you think - £60k is a hell of a lot of money and I'm sure it's not just true of accountancy but many other skilled trades such as plumbers, electricians etc. Are all these people encouraged to go off to uni by this Labour government really better off by doing so?
Wasyls Pec Deck Posted 16 August 2006 Posted 16 August 2006 Who goes to uni if they want to be a plumber, electrician etc? Maybe accountancy falls into that category, a job thats always in demand. However most students at uni with a specific career in mind, or area will use that qualification to earn more in the long term I'd say. Half the point about Uni is the crack, having a bloody good time, the best time of your life! I'm at Leicester Uni, going into my final year and its gone too quick! I wouldn't change anything
Knighton Matt Posted 16 August 2006 Author Posted 16 August 2006 Who goes to uni if they want to be a plumber, electrician etc? Maybe accountancy falls into that category, a job thats always in demand. However most students at uni with a specific career in mind, or area will use that qualification to earn more in the long term I'd say. Half the point about Uni is the crack, having a bloody good time, the best time of your life! I'm at Leicester Uni, going into my final year and its gone too quick! I wouldn't change anything No but my point was that many go off to uni and do a degree whereas if they'd chosen to train in a skilled profession they would actually be much better off salary wise not to mention job satisfaction. Plus I know quite a few people that did degrees and are now training to be plumbers, electricians etc because they couldn't find a job.
Stuliasz Posted 16 August 2006 Posted 16 August 2006 Uni is as much a life lesson as it is about the academic side - certainly with the debts that myself and almost every student notches up. It changes people, in most cases for the better and if you do have to work hard to get your degree, it is bloody satisfying when you graduate! (only a year to go )
Master Fox Posted 16 August 2006 Posted 16 August 2006 Bollox, I'd give up everything about doing AAT to swap it for 3 years at uni.
cisono Posted 16 August 2006 Posted 16 August 2006 Would-be accountants could be almost £60,000 better off by not going to university, it is claimed. The Association of Accounting Technicians (AAT) compared those doing a college course after school with those doing a three-year degree... Is this because university costs include buying rounds at the pub?
cisono Posted 16 August 2006 Posted 16 August 2006 No but my point was that many go off to uni and do a degree whereas if they'd chosen to train in a skilled profession they would actually be much better off salary wise not to mention job satisfaction. Plus I know quite a few people that did degrees and are now training to be plumbers, electricians etc because they couldn't find a job. Indeed... I have two degrees (worked for a few years on a third too!) - and the work I do now does not require any degrees at all! This is not to say I would not go back to uni. I travelled and learnt lots of stuff while studying (and working) at uni... it is merely to say that a degree is not a guarantee of a job (or even a good education) these days... My friend (a plumber) makes £50 a year... easily. I don't know many graduates who make that kind of money (except accountants and some high-flying manager).
Shum Posted 16 August 2006 Posted 16 August 2006 Is this because university costs include buying rounds at the pub? I wouldn't change my uni days for anything, but the amount of debt was huge. Have paid off everything now apart from student loan but not arsed about that. Unless you're doing something like accounts, optomotry, dentistry etc then don't bother I say!
Shum Posted 16 August 2006 Posted 16 August 2006 Indeed... I have two degrees (worked for a few years on a third too!) - and the work I do now does not require any degrees at all! This is not to say I would not go back to uni. I travelled and learnt lots of stuff while studying (and working) at uni... it is merely to say that a degree is not a guarantee of a job (or even a good education) these days... My friend (a plumber) makes £50 a year... easily. I don't know many graduates who make that kind of money (except accountants and some high-flying manager). you mean £50k? hehe
Wasyls Pec Deck Posted 16 August 2006 Posted 16 August 2006 Indeed... I have two degrees (worked for a few years on a third too!) - and the work I do now does not require any degrees at all! This is not to say I would not go back to uni. I travelled and learnt lots of stuff while studying (and working) at uni... it is merely to say that a degree is not a guarantee of a job (or even a good education) these days... My friend (a plumber) makes £50 a year... easily. I don't know many graduates who make that kind of money (except accountants and some high-flying manager). £50! I hope u meant £50k! Thumbs up for uni then??
Flagg Posted 16 August 2006 Posted 16 August 2006 I'll get over it...what sort of dullard goes to uni to do accounting anyway?
cisono Posted 16 August 2006 Posted 16 August 2006 you mean £50k? hehe Obviously although I am quite sure that most accountants make less than £50 (they make good use of their tax allowances!)
Dr The Singh Posted 16 August 2006 Posted 16 August 2006 I went to UNi etc and had a great time etc but I had a mate who worked shifts at Royal Mail, same age etc, but he used to change his shift (eg from 6-2 to 2-10) whenever he wanted to go out, hence he got the best of both worlds plus he got plenty of uni totty cus he had money and he wasn't in debt infact he got promoted on several occassions, owns 2 properties and earns as much as me now. I wonder who got the better deal??? I got the prestige and social gratification of having a degree and he got the money while I pissed it down the drain!!!!!
Tomassi Posted 16 August 2006 Posted 16 August 2006 in a similar sort of situation, i chose to go to college instead of a uni for 2 years to do my photography, with a part time job on the side to pay for my course fees and equipment. I also got to go out quite a fair bit but i hardly had any money at the time due to the equipment costs. I was never in debt however, and managed to get a job at 21 which now enables me to pay my bills, got me my car and enjoy myself
Maybes Posted 16 August 2006 Posted 16 August 2006 I have just left college and have joined a firm of accountants to do AAT.......
Monk Posted 16 August 2006 Posted 16 August 2006 I think in general grads go further in the long run, these days you'd struggle to get into senior management without a degree. Plus - this is from the AAT? Do you really think CIMA, ACCA and ACA would say the same thing? I doubt it. I believe you have to have a degree to do an ACA anyway these days?
Matt Posted 16 August 2006 Posted 16 August 2006 Woohoo 60k better off than most people my age already, Probably better paid than most people my age, More qualified than most people my age.... When will people start getting "proper" jobs? And start learning unless your gonna follow up what you learn at uni whats the point in wasting your money? I know someone who has finished uni about a year maybe more and she has moved out, she hasn't got a job, she has had 2 "part-time" since leaving uni which she hasn't cared about never turned up for, e.t.c, she when to study law, she has a job interview for the police in a few months but shes not too bothered about, so whos paying for the uni debt? Mummy & Daddy or a loan? Whos paying for the flat/house? Mummy & Daddy or a loan? Where's all the money coming from? Just moved out...New Car...Not working...Going on holiday fair enoguh have a life i'm not saying don't enjoy yourself but she just finished uni, got all these luxuries without working where's the money coming from? I'm not too bothered about people not coming into trades because it means more work for me, but just think, Lawyers, Accountants, Doctors, Teachers, they all do good jobs but if no one comes into trades who's gonna make the desk your PC's and work goes on? Who's gonna make chairs to sit on? Who's gonna put you electric power in? Who's gonna put water, heating, toilets in? Recently people learning trades are on the up but it's still too little and uni is "the place" to go... P.S - I know most people will probably disagree with me and put this down to moaning, but its too me this is my view of uni, and when most people finish uni my opinion is they don't get a job...a job in what they have studied anyway...
Maybes Posted 16 August 2006 Posted 16 August 2006 I think in general grads go further in the long run, these days you'd struggle to get into senior management without a degree. Plus - this is from the AAT? Do you really think CIMA, ACCA and ACA would say the same thing? I doubt it. I believe you have to have a degree to do an ACA anyway these days? you dont have to have a degree.But i think you have to have a certain amount of UCAS points. However if you complete the AAT course then you can go straight into the ACCA.
Anish Posted 16 August 2006 Posted 16 August 2006 It depends what you want to do. You can't become a solicitor without a degree so it's something that I had to do. As far as money is concerned, I wouldn't be able to earn anywhere near as much in Leicester doing any "ordinary" job as I will be earning when I start my job in London next March. So for me university (and the subsequent LPC) will have been well worth it both as a life experience and in financial terms.
Monk Posted 16 August 2006 Posted 16 August 2006 It depends what you want to do. You can't become a solicitor without a degree so it's something that I had to do. As far as money is concerned, I wouldn't be able to earn anywhere near as much in Leicester doing any "ordinary" job as I will be earning when I start my job in London next March. So for me university (and the subsequent LPC) will have been well worth it both as a life experience and in financial terms. I agree, I come from Oakham , and if I hadnt gone to Uni I would probably be in Accounting on about 20K right now, maybe a bit more. Doing a degree has enabled me to get into Investment banking and go straight in on >30K. Tell me that wasnt worthwhile. Done some research - to do an ACA without a degree you need to do an AAT anyway, so surely thats just 2 years + 3 years you'd qualify at the same time and sure have 3 years of wages in the bag. But would take the booze, lie ins, all day FIFA, weekday BBQs every time..... WHY DIDNT I DO A MASTERS!!!!
Knighton Matt Posted 16 August 2006 Author Posted 16 August 2006 I agree, I come from Oakham , and if I hadnt gone to Uni I would probably be in Accounting on about 20K right now, maybe a bit more. Doing a degree has enabled me to get into Investment banking and go straight in on >30K. Tell me that wasnt worthwhile. Done some research - to do an ACA without a degree you need to do an AAT anyway, so surely thats just 2 years + 3 years you'd qualify at the same time and sure have 3 years of wages in the bag. But would take the booze, lie ins, all day FIFA, weekday BBQs every time..... WHY DIDNT I DO A MASTERS!!!! Agree with all of this although Maybes was right you definitely can do ACA without doing a degree or AAT first as I know people here in Leicester doing that. I wouldn't swap my time at uni for anything even if I could be £60k better off now.
Steven Posted 17 August 2006 Posted 17 August 2006 Indeed... I have two degrees (worked for a few years on a third too!) - and the work I do now does not require any degrees at all! This is not to say I would not go back to uni. I travelled and learnt lots of stuff while studying (and working) at uni... it is merely to say that a degree is not a guarantee of a job (or even a good education) these days... My friend (a plumber) makes £50 a year... easily. I don't know many graduates who make that kind of money (except accountants and some high-flying manager). I wouldn't get out of bed for that.
davieG Posted 17 August 2006 Posted 17 August 2006 I wouldn't get out of bed for that. Aaah but would you get INTO bed for that Steven? A more pertinent quation I think.
davieG Posted 17 August 2006 Posted 17 August 2006 Where I currently work we sponsor a number of people each year through an apprenticeship, doing ONC/HNC and then if the are good enough they can go on to do a BSc degree over 3 years, the whole lot on day release. All the time being paid, it can take 7 years, 5 if they start with good A levels and at the end of it they have no debts, except maybe the mortgage on the house they've purchased.
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