At a time of largely downbeat economic forecasts and record graduate unemployment levels, one of Southampton’s leading accountancy firms is urging students eagerly awaiting this month’s A Level results (Thursday, 15 August) to consider the merits of a school leavers’ programmes as an alternative career path to university.
Accountancy and business advisory firm BDO LLP currently has 30 school leavers enrolled on its award-winning School Leavers’ Programme with 67 more set to join the firm after the summer. Applications will open for the next academic year on 1 September, with a further 80 places available for the 2014 intake.
Malcolm Thixton, Lead Partner and head of BDO LLP in Southampton, which is based at Arcadia House, Ocean Village, believes that such schemes are becoming a more popular option for ambitious students looking for an alternative to full-time university education.
He said: “The traditional route into professions such as accountancy is via university. However, the changing and challenging economic climate has meant more than ever that school leavers are making different choices these days compared to previous generations.
“Applying for a degree is no longer the straightforward decision that it was once was. The average graduate can expect to leave university with debts of around £30,000, and at a time when the cost of study is increasing so is the level of unemployment among graduates.
“One of the best things about our School Leavers’ Programme is that trainees earn as they learn. They have the security of a permanent salary that rises as they progress through the scheme and the advantage of working with some leading experts in the industry while working on real business projects from day one.
“Those who enrol can also become a fully qualified accountant in five years, which is actually a year less than a graduate, given that the average university degree lasts three years and it takes an additional three years to qualify as a chartered accountant.”
Louisa Robbins, 20, is currently enrolled on the programme at BDO’s Southampton office having joined in September last year. She left sixth form with an A* (Maths), A (Economics) and A (Psychology) in her A levels, and has no doubt about her decision to opt away from the university path.
She said: “Once I had researched school leaver programmes, it was clear cut for me that I wanted to go down that route, rather than accept one of the university offers I had. I knew I wanted to be an accountant, so didn’t see the point in delaying the start by three or four years.
“The ACA qualification is recognised globally and I believe I will be in a stronger position when I qualify having learned from industry experts day by day. To top it off, I’m earning money and not accumulating huge student debt that would take years to clear.”
“Some of the main positives of the programme are the learning – I like being able to put what I have learnt into practice – and the support – the support network is fantastic and you can rely on it as much or as little as you like. I find it reassuring to know that lots of people have been through what I am doing, so there is a great sense of understanding in the office.”
Louisa provides her top tips for other students trying to decide whether to go to university or train on a programme like this;
1. Talk to people. First-hand experience is fantastic, but when you don’t have that, talking to others who have done what you are considering can be just as helpful.
2. Research your options. Look into any university courses and school leaver programmes that you are interested in. Find out what you would be doing; think about whether you would be suited to it and the time you would need to invest in it.
3. Think about and decide what you want to do. There are some careers that need specific degrees in order for someone to practice in a particular profession. However, there are careers that don’t require degrees and you need to consider what a degree would help you do; will it add value to your CV; will it help you get a job; is it worth the debt?
4. Attend Insight Days and University Open Days. It’s always worth attending university open days to get an idea of the campus, the course, etc. I would also recommend attending Insight days by firms that you are interested in. BDO holds several Insight days at the office in Southampton and it’s a great opportunity to be able to visit the office, meet existing trainees who can answer any questions you may have, hear from people working in different departments and to get advice on your application and the process you should take.”
