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Self-Funded Training: Is it worth it?
For the last 10 years I have worked for an SME (Less than 50 people), originally as a book keeper, progressing to finance manager and for the last 4 years have also been company secretary. For 11 years prior to that I worked for a small accountancy practice as an accounting technician. I am AAT qualified.Last year my employer agreed to sponsor me to do a Post Graduate Diploma in Management Services. Then in October the company was bought out. I would like to continue into the second year of the course but the new owners do not fund employee training which means I will have to fund it myself.
I am a female in my late 40's and it has been suggested that this would be a wasted investment (£2,000) since there is no chance of progression with my current employer and because of my age and lack of large company experience, I would find it hard to get employment elsewhere.
I would appreciate any feedback, particularly from anyone who has been in a similar situation.Maureen
Comments
Maureen, I am shocked to read that your confidence has been undermined by the suggestion that you would find it hard to get employment elsewhere. I am in my mid 50's and have made some dramatic changes in my career during the last few years. Self motivation is the key component to these changes, coupled with appropriate training and skills evaluation.
Please don't allow such negative thoughts to influence your decision about whether to self fund your training. The return on your investment is not just financial, but motivational and confidence building.
Gill - May 13, 2007 9:36 AM
Education is never a waste darling .Full respect sister dont stand still, fiftys are the new fortys......
James Brackenbury - May 13, 2007 7:55 PM
I wouldn't let age count against you here: even though you have worked for a smallish company for a while, there's nothing stopping you looking around for another, somewhat larger company to contribute your skills to. One of the advantages of small company experience is the breadth of the skillset you develop: this is something you can stress as a positive on your CV and in interviews.
If I were you I'd start looking around and talking to a few other prospective employers to assess the extent to which they'd value your skillset. There'd be no harm in mentioning that you're mid-way through a new 2-year qualification initiated by yourself (indicates that you're a self-starter) - although I'd omit the fact that your current employer funded the first year unless explicitly asked. Who knows, if another company feels that you'd add value to their team, they might well offer to fund the rest of the course to have you on board. At the very least, you'd find out whether you'd be able to earn enough elsewhere to fund it if that's what it came to.
All the best with the road ahead.
Angus - May 13, 2007 9:28 PM
You should seriously consider funding this yourself As AAT qualified you should certainly, even within an SME be earning in excess of £30k as Finance Manager and Company Sec.. At £40 per week it presents good value to you and shows commitment and ambition. At late 40's many companies might appreciate this more than appears to be the case with your current employers. Go for it. It might be suggested to them that you may wish to recoup your expense elsewhere.
R Williams - May 13, 2007 10:00 PM
Hi
Same thing happened to me. I decided to leave the new company that didn't want to fund the studies. IThey were bad employers in more than one way. I then proceeded to do my studies full time. Now that I have finished, I am finding it difficult to get back into work because in sales, what you sold last year is what counts, not what you studied last year. However, my persistance is now paying off and I am getting real interest at last.
I see lots of finance jobs posted in my job search; there seems to be a real demand for it. And when you apply for jobs, showing your interest for Continual Professional Development really is a plus. I have put it on my CV and people always comment on it in interviews.
Forget about the myths about age too. I am getting into graduate schemes now in my 40's. It is simply not possible to exclude this large section of the population.
My advice: if you want to move, use your contacts (ex colleagues, bosses etc.) and you will find you can probably move jobs now with your current skills and your ambition.
As for the study, do it part -time. It is very rewarding in the end. I get a great deal of pride out of having achieved that piece of paper and I know it will get me the career change I want in the end.
Take heart,
Christine
Christine Neal - May 15, 2007 9:00 AM