How the heck am I supposed to make a career change? (average, analysis)
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I was in your same situation. Find an online distanced learning masters program so you can continue working and go to school. Make sure it's a real college with a real campus though(not u of Phoenix). The only other way is through networking. But that is not really under your control like people say it is.
If I went to college, I would quit my job and go to school full time. I can't imagine adding on college coursework to my full-time job. I'd blow my head off.
What do you not like about accounting? If you advanced to the position of Controller you could take on human resource responsibilities as well?
Well, specifically, I'm a tax accountant. I just don't like the constant pressure, deadlines and complexity. The U.S. tax code is just SO complex and it makes my head want to explode.
I have tried moving out of tax accounting and into general accounting, which follows GAAP (generally accepted accounting principles) rules but I'd have to take a $20K paycut (down from $75K). I'm okay with that, but it would be a tough pill to swallow. I mean, whether it's tax accounting or general accounting, I would still be sitting in an office in front of a computer all day, dealing with a set of rules, spreadsheets, numbers and deadlines anyway. So I don't know....
The only career change that I could possibly wiggle my way into would be a financial analyst, of the type that forecasts and budgets a company's financials. But based on my observations over the years, financial analysts or FP&A (financial planning and analysis) professional work like 50+ hours per week, which I don't want to do. I value work-life balance strongly.
But being in tax accounting for nearly 7 years, I'm just average at it, to be honest. I think from time to time, management has been disappointed with me for various reasons.
Because I don't want to spend a few years and tens of thousands of dollars on something that I might not like. Sure, I have some ideas of what I would like to try, but how do I know if I will REALLY enjoy it? That's scary.
Well, specifically, I'm a tax accountant. I just don't like the constant pressure, deadlines and complexity. The U.S. tax code is just SO complex and it makes my head want to explode.
I have tried moving out of tax accounting and into general accounting, which follows GAAP (generally accepted accounting principles) rules but I'd have to take a $20K paycut (down from $75K). I'm okay with that, but it would be a tough pill to swallow. I mean, whether it's tax accounting or general accounting, I would still be sitting in an office in front of a computer all day, dealing with a set of rules, spreadsheets, numbers and deadlines anyway. So I don't know....
The only career change that I could possibly wiggle my way into would be a financial analyst, of the type that forecasts and budgets a company's financials. But based on my observations over the years, financial analysts or FP&A (financial planning and analysis) professional work like 50+ hours per week, which I don't want to do. I value work-life balance strongly.
But being in tax accounting for nearly 7 years, I'm just average at it, to be honest. I think from time to time, management has been disappointed with me for various reasons.
In your particular situation, I would not switch careers as of right now. I would only switch careers midstream if...
1) You really know what you want to do.
2) You really, really hate your job or are terrible at it.
3) You want a more challenging job or want to make more $.
As is, you make good $. If you switched careers, it might take you another 8-10 years to get back to 75K. Heck, you could go to Pharmacy school or spend another 5 years getting a BS/MS Computer Engineering and be making around 75K.
That said, if you want to switch, now is the time to do it. The longer you wait, the harder it gets. You are not quite at midstream, but very close.
If you had a good idea of what you wanted to do, I might encourage it, but you don't.
In your particular situation, I would not switch careers as of right now. I would only switch careers midstream if...
1) You really know what you want to do.
2) You really, really hate your job or are terrible at it.
3) You want a more challenging job or want to make more $.
As is, you make good $. If you switched careers, it might take you another 8-10 years to get back to 75K. Heck, you could go to Pharmacy school or spend another 5 years getting a BS/MS Computer Engineering and be making around 75K.
That said, if you want to switch, now is the time to do it. The longer you wait, the harder it gets. You are not quite at midstream, but very close.
If you had a good idea of what you wanted to do, I might encourage it, but you don't.
Correct. I don't precisely know what I want to do. But I just don't feel comfortable going back to school and spending virtually my entire nest egg on another degree for something that I might not end up liking anyway! The whole point of this thread was to seek advice as to how to make a career change WITHOUT going back to school, if possible.
I don't hate my job that much. It's alright. Some days are good, some are bad. I guess that's the case with most jobs?
I don't want a more challenging job, nor do I desire to make more money (although it's a plus).
I already know that it's a bad idea to go back to school, because of the cost associated with it. I mean heck, I just paid off all my student loans two years ago. It would be very depressing to rack up huge amounts of debt again or dig into my nest egg of cash. It's just going to be a huge setback for doing things such as buying a home, etc.
Correct. I don't precisely know what I want to do. But I just don't feel comfortable going back to school and spending virtually my entire nest egg on another degree for something that I might not end up liking anyway! The whole point of this thread was to seek advice as to how to make a career change WITHOUT going back to school, if possible.
I don't hate my job that much. It's alright. Some days are good, some are bad. I guess that's the case with most jobs?
I don't want a more challenging job, nor do I desire to make more money (although it's a plus).
I already know that it's a bad idea to go back to school, because of the cost associated with it. I mean heck, I just paid off all my student loans two years ago. It would be very depressing to rack up huge amounts of debt again or dig into my nest egg of cash. It's just going to be a huge setback for doing things such as buying a home, etc.
Grass is always greener on the other side.
What I would really suggest is a shift within the broader accounting field. If you work for a large company, try getting a job with the consolidations team for example. The two fields are related in a lot of respect in terms of what they need from people and your experience will still be valued there. Or try to make a move to FP&A. That'll be a bit more of a chance since it tends to be less on the "Rules" side of accounting and more on the "what do you think will happen side" but it'll still hurt you less to switch.
To sum it up, if you want an easy change, redirect your course, don't turn 90 degrees.
Correct. I don't precisely know what I want to do. But I just don't feel comfortable going back to school and spending virtually my entire nest egg on another degree for something that I might not end up liking anyway! The whole point of this thread was to seek advice as to how to make a career change WITHOUT going back to school, if possible.
I don't hate my job that much. It's alright. Some days are good, some are bad. I guess that's the case with most jobs?
I don't want a more challenging job, nor do I desire to make more money (although it's a plus).
I already know that it's a bad idea to go back to school, because of the cost associated with it. I mean heck, I just paid off all my student loans two years ago. It would be very depressing to rack up huge amounts of debt again or dig into my nest egg of cash. It's just going to be a huge setback for doing things such as buying a home, etc.
Do some research, like looking at BLS and what kind of jobs/careers you can maneuver into with the education and skills you already have. But it is very possible you might need to go back to school. If so - look at post Bac type classes in courses that interest you or even a graduate certificate (which is about 15 credit hours). You can take classes at a community college that would be less expensive.
Or you can try to make your job a little more enjoyable or put some soul back into your life by volunteering. Volunteer tax services or volunteer in something totally unrelated. Maybe giving something back will make you appreciate what you have.
But it worries me that you say you are making mistakes at your job. If you screw up somebody else's taxes because you are feeling unfulfilled then that's not fair to your clients.
(edit for brevity)
I have tried moving out of tax accounting and into general accounting, which follows GAAP (generally accepted accounting principles) rules but I'd have to take a $20K paycut (down from $75K). I'm okay with that, but it would be a tough pill to swallow. I mean, whether it's tax accounting or general accounting, I would still be sitting in an office in front of a computer all day, dealing with a set of rules, spreadsheets, numbers and deadlines anyway. So I don't know....
(edit for brevity)
You will take a minimum of a $20k paycut, if you changed career paths. Many entry-level jobs start at $35-45k, so you are looking at a $30-40k paycut. It is something to consider, if you are hesitant about taking a paycut.
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Quote:
Originally Posted by move4ward
You will take a minimum of a $20k paycut, if you changed career paths. Many entry-level jobs start at $35-45k, so you are looking at a $30-40k paycut. It is something to consider, if you are hesitant about taking a paycut.
I don't think it will be that much, but yes, a 20k paycut is a minimum.
Totally handle able at your age when you don't have kids.
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