All advice welcome...

stephleedzstephleedz Well-KnownPosts: 179Registered
Hi guys and girls,

You have all been super supportive over the last 2 years throughout my studies with the AAT which I am very greatful...in need of some advice.

The company I work for pay for my studies and as part of my contractual agreement if I wished to leave my present employer within the next 12 months I would have to pay back any study fees my present employer has paid for which would be the ACCA I was hoping to start in September.

So if I where to not start ACCA in September and left my present employer end May 2013 would it look unfavourable to a prospective employer that once I had done the AAT I did not at least make the effort to continue on with my studie? Or would it look better if I did at least start it? As in would there be more job opportunities available if I where AAT qualified and had started ACCA as opposed to just being AAT qualified?

Thanks in advance guys xx

Comments

  • janwaljanwal Experienced Mentor Posts: 1,189Registered
    Hi

    I have the same clause in my study application, but I also have a very understanding Manager, I asked him the same question and he informed me that he would not ask for the money back. Maybe it is worth a chat.

    As I am a mature person (very) I was struggling with level 3 and enquired as I was undecided whether to do level 4. My study leave also said if I didn't complete I would have to pay back. He informed me this was not the case. I also know a collegue has just finished CIMA and has left last week and they didn't charge him.

    It may be worth finding out before starting ACCA as if they say it stands that means 4 years.

    Good luck

    Jan
  • SandyHoodSandyHood Font Of All Knowledge Posts: 2,034Registered, Moderator
    If you apply for another job, and find that you are offered it you will typically enter a negotiation with the prospective employer. I have known students who have then said that they have a clause in their existing contract regarding reimbursement, and have successfully asked that their new employer take over responsibility for reimbursing the employer they are leaving.
    Sandy
    [email protected]
    www.sandyhood.com
  • stephleedzstephleedz Well-Known Posts: 179Registered
    Janwal,

    Unfortunately I am not so lucky, a girl at work who was also in a similar position to me was charged approx £3k for all fees paid by our present employer. My present employer has also confirmed that my current charge to leave would be approx £600 (fees paid by my employer over the past 12 months).

    Sandyhood,

    After contacting various recruitment agencies they did say that a buy out of my current contract is extremely rair? It would be good but there is no guarantee unfortunately.

    I just wondered if it would look better to a prospective employer looking at my CV for me having AAT qualified and started ACCA or whether just AAT qualified. If there wouldn't be a lot of difference I could save myself a few quid and start ACCA when I move end may 2013 as opposed to September 2012??
  • Jo ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    janwal wrote: »
    I have the same clause in my study application

    I have the same too, except mine is two years after qualifying! (I think - will double check when back in the office)
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • Jo ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    Jo Clark wrote: »
    I have the same too, except mine is two years after qualifying! (I think - will double check when back in the office)

    I found a copy I kept on my AAT file at home! It states...

    If I terminate my employment within two years of the exam(s) result/the date of completing the course/the training being notified, I will immediately refund my employer a sum equivalent to the whole amount paid [to me/on my behalf] as financial assistance. The amount will be reduced by one-twenty-fourth for each completed month of service after notification of the [exam(s) results/completion of the course/ completion of the training].

    Good luck with your decision Steph.
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • stephleedzstephleedz Well-Known Posts: 179Registered
    Thank you, I'll need it.

    I'm just trying to figure out what to do for the best. I sat my last exam (fingers crossed touch wood and all that good stuff) recently and I know that if I don't continue on to the ACCA in September (therefore no extra costs incurred through my employer) I can leave my current employer free of charge end of May 2013.

    2nd option I continue on to the ACCA in September studying Financial Reporting F7 (I think) as that follows on from FNST (exam just sat), my employer pays for me and I pay them back through my end of May 2013 salary.

    I just don't know what would look best to a prospective employer...AAT qualified or AAT qualified and studying towards ACCA?
  • nicd1981nicd1981 Well-Known LiverpoolPosts: 244AAT Licensed Accountant
    Hi Steph,

    Im not an expert but if you look on Job sites at the moment most are asking for CIMA or ACCA part quals
    If i was you id definitely do ACCA, but then im self funding, i havent got an employer willing to pay so would jump at the chance.
    only you can make the decision what is best, why dont you ring around a few companies get email addresses for there HR and ask them what they are looking for in Job candidates?
    Might give you a clearer picture of what is needed?

    Goodluck

    PS have you a job offer already?

    Nic x
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
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