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CAP2 exams and capping numbers of Chartered Accountants

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  • 28-06-2009 11:41pm
    #1
    Mr.C Accountant
    Closed Accounts Posts: 21 ✭


    Below is a thread i got off the solicitors sections on boards, this is exactly whats happening or is going to happen to the accountancy market!!!!



    I've been thinking about that since yesterday and I really could not in all conscience advise anybody to become a solicitor. And not because the job isn't interesting, it's just that prospects are virtually nil. Believe it or not, finding a training contract is the easy part! Okay, people will say that many of the problems within the profession are because of the economy and that is true to an extent, but there are currently about 1,000 qualified solicitors out of work at the moment and the virtuallu all of the next batch (of which I'm one) due to qualify in Dec '09 and April '10 will be let go and will not find alternate employment. So even if things do pick up there is going to be so much competition for jobs that it really is unviable as a career. Sure, in what other profession that you know of would some fully qualified people actually be working for free?

    !

    In conclusion, I know this is not what people want to hear and no doubt people will tell me that things aren't that bad (and they're right they are a lot worse!) and will regardless plough on in the hope that things will pick up. But I think it is abundantly obvious to anyone with even half a brain that the problems within the solicitors profession are far more structural (i.e. vast oversupply of solicitors) and will not be solved anytime soon. I also know that people will be reluctant to walk away from the goal, especially after devoting so much time in doing a degree and passing the fe1's but really the best advice would be to do exactly that, believe me after spending another three years post fe-1's towards this goal only to realise that your efforts aren't going to amount to anything is definitely far worse and is one of the most disheartening and soul destroying experiences imaginable.
    Tagged:


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    #2
    MrMatisse
    Closed Accounts Posts: 1,743 ✭✭✭MrMatisse


    Its simular in accountancy although we will only see the vast oversupply in 12 months when the really big intakes begin to qualify into a smaller economy. I wouldnt advise anyone to go into accountancy as their first choice. I think a lot of people end up in it because there arnt really many other finance type jobs in ireland.

    Wages will go like the U.K where a qualified accountant gets about 34 sterling. The days of newly qualifieds getting fifty k are well and truely over and probably gone for good. It will be very tough to get a job. Im already hearing stories of people interviewing for trainee positions offering to work for free. the race to the bottom has begun.


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    #3
    DC86
    Registered Users Posts: 19 ✭DC86


    Newly qualifieds in the north are lucky to be on 20k, never mind 34.


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    #4
    prinz
    Registered Users Posts: 14,598 ✭✭✭✭prinz


    I'd like to know what the alternative is? So what if there's oversupply, tough luck. Emigrate or whatever. What, were you hoping that accountants would have a protected privileged position? Certain careers have for far too long been viewed as lah-dee-dah exclusive professions.


    This is more of the rubbish which has turned me against accountancy... but makes me more determined to get qualified just so I can turn around and tell people like you to stick your qualification because it's not worth a damn.


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    #5
    schumacher
    Closed Accounts Posts: 196 ✭✭schumacher


    This is more of the rubbish which has turned me against accountancy... but makes me more determined to get qualified just so I can turn around and tell people like you to stick your qualification because it's not worth a damn.[/quote]

    An accountancy qualification is worth something. Even if there is oversupply which there will be the best people in any profession usually find a way to the top. Its the mediocre people that get squeezed.


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    #6
    prinz
    Registered Users Posts: 14,598 ✭✭✭✭prinz


    An accountancy qualification is worth something. Even if there is oversupply which there will be the best people in any profession usually find a way to the top. Its the mediocre people that get squeezed.
    [/QUOTE]

    The qualification is, but the more I see the attitude like the one above then I wonder why bother, because I wouldn't want to be associated with that kind of protectionism and cartel-like mindset.


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    #7
    Running Bing
    Registered Users Posts: 3,841 ✭✭✭Running Bing


    DC86 wrote: »
    Newly qualifieds in the north are lucky to be on 20k, never mind 34.

    Really? Do you have a source for that?


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    #8
    Mr.C Accountant
    Closed Accounts Posts: 21 ✭Mr.C Accountant


    Running Bing wrote: »
    Really? Do you have a source for that?


    Yeah economy is in ruins... chartered accountancy means nothing tis like a piece of paper!!

    Irish people better start getting used tothe mentality of working in shops casue that where most graduates are destined for!!!


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