Author Topic: Advice on education for SO career change--maybe grad school in Europe?  (Read 1136 times)

4tify

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My partner, who’s 39, obtained a BA in Advertising (2.595 GPA) as an undergrad and has been working in this field since 2004. He’s interested in making a jump into the finance field - he thinks particularly either a financial analyst or auditor.

Although he works in a creative industry, his particular role has been focused on managing the client’s multi-million dollar budgets, analyzing data and maintaining accurate reporting to the client and other departments of the company.

He’s interested in pursuing education and getting mixed information online about whether it’s better to acquire a second bachelors in accounting or try for a Masters in Accounting. He’s also interested in studying abroad so the idea of moving overseas for a year or two is enticing (particularly Switzerland since it’s subsidized).

Does anyone with accounting or finance backgrounds have any advice? Any experience studying for a Masters degree in Europe? How much is the university going to judge his transcripts from 16 years ago, compared to his work experience?
« Last Edit: October 10, 2020, 06:56:56 PM by 4tify »

Paul der Krake

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Re: Advice on education for career change--maybe grad school in Europe?
« Reply #1 on: October 10, 2020, 07:02:54 PM »
Like many areas, there is no such thing as "Europe" as far as higher education is concerned. There are some 30 countries who all do and price things differently. Switzerland is one of the most expensive countries in the world, and you'll need to figure out:
1) whether any university wants him to come
2) whether he can get a student visa at 39
3) whether you can get a spousal visa
4) whether one of you will be allowed to work to sustain yourselves

My hunch is that they're probably not super keen on flailing middle aged Americans who want to come because it's cheap.

You're going to need to seriously narrow down your options to see if any of this is even feasible.

Sibley

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #2 on: October 11, 2020, 02:09:26 PM »
Financial analyst and auditor are pretty different, even frequently different majors (finance does not equal accounting). There's been a post or 2 lately about switching to accounting that had some good advice re auditing, etc. You might find them.

With a 2.5 GPA in undergrad, your partner does not have a great academic track record. Yes, he may have been "young, dumb and not committed", but if that's not actually why he did so poorly 20 years ago, then he'll need to make sure that whatever happened is addressed. It's not worth the money if he's going to back to school and then fail out of all his classes.

If he wants to go accounting, the reason for a Masters is to get enough credits to sit for the CPA. If he decides to go the traditional external audit route, he'll pretty much have to get a CPA at some point to advance. However, his original bachelors may still qualify as credits. He would need to investigate the CPA requirements in whatever state you live in, or plan to live in. I know at least some states will expire old college credits.

Also, if you're in the US, then an accounting education from somewhere in Europe may hinder him. We don't follow the same accounting standards (US GAAP vs IFRS). The Big 4 accounting firms might be willing to hire him, but a lot of smaller firms may not. And he might be limited to multinational companies that need IFRS qualified accountants. However, he's be hindered in Europe because he doesn't have EU citizenship. It might be a really bad idea if the goal is to actually get a job.

He needs to figure out what he's aiming for. Once he knows that, then he can figure out what education is needed to get him there. Good luck.

Metalcat

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #3 on: October 11, 2020, 02:29:15 PM »
This is kind of all over the place.

I would start with the end in mind and work backwards. What does he actually want to do? What education is required to do it?

Going to Europe for cheap education? I'm not sure how that makes sense. Would you be moving there too, or would you be doing long distance? Maintaining two homes and flights would kill any tuition savings.

If you would be moving too, can you even work there? If you are able to work remotely, are you eligible to live there without working?

Would you two want to stay there long term?

If no, then would the education even be applicable back home? Also, he would miss out on all opportunities to network during his education, which is a HUGE lost opportunity.

jinga nation

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #4 on: October 13, 2020, 05:53:57 AM »
Going to propose a different tack. Since he has experience in budgets, analysis, and reporting, and if he does enjoy aspects of IT, one very in-demand skill is Cloud Economics. With the push to cloud, companies don't have talent that understand economics AND cloud. He could work for a company, a consulting firm (yes there are small niches ones), or a gov agency. Education is self-taught and cumulative costs for certification and courses cloud be cheaper than a plane ticket to Europe. DM me if you want more info.
(I work for a Cloud professional services firm; none of us were born into cloud tech - but everyone one in engineering all the way to HR has taken courses and passed cert exams. We had a program control analyst who's experience was at Verizon, but she applied the fundamentals to cloud costs etc.)

4tify

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #5 on: October 18, 2020, 08:15:06 AM »
Thanks all & @jinga nation for the really interesting idea. I wasn't aware of Cloud Economics at all. I'll share this with him.

@Paul der Krake I'm not sure "flailing" is the appropriate interpretation here. Many people choose to switch careers over the run of their lives. Also his dream isn't about being cheap, it's about living in Europe. I see from another post you spent a semester abroad, so you clearly had the bug at some point in your life as well.

Sibley

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #6 on: October 18, 2020, 10:02:48 AM »
Thanks all & @jinga nation for the really interesting idea. I wasn't aware of Cloud Economics at all. I'll share this with him.

@Paul der Krake I'm not sure "flailing" is the appropriate interpretation here. Many people choose to switch careers over the run of their lives. Also his dream isn't about being cheap, it's about living in Europe. I see from another post you spent a semester abroad, so you clearly had the bug at some point in your life as well.

Then you might find this interesting. https://forum.mrmoneymustache.com/welcome-to-the-forum/so-you-want-to-move-to-europe-a-reality-check/

MrThatsDifferent

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #7 on: October 18, 2020, 12:52:50 PM »
OP, normally I’m the biggest proponent of moving overseas using grad school as the vehicle, it’s a near perfect way to change careers and see the world. However, there’s lots happening here:
1. Your SO is significantly older to be changing careers. So, say he does this and he finishes and is now around 41-42, hunting for jobs back in the US, starting from the bottom against younger applicants. It will take a bit to get to where he thinks he should be at his age, don’t underestimate that, it weighs on the mind. Also, not sure how well this will be perceived back in the US? Empowers will wonder why Europe, couldn’t you get into an American school? Oh, you wanted to explore Europe, maybe work isn’t your priority? Atypical pathway will invite scrutiny, especially in the US where that’s seen as a negative instead of a positive.
2. Where do you and the relationship fit into this? If he was single, it’s one thing. As the trailing partner, do you join or do you both have a long distanced relationship for a couple years? If he’s single and living out his dream of being in Europe, it can be fun as hell. If you’re with him, it would be great too, but what are you doing? Working? School too? Is this your dream?
3. Is now the best time? This pandemic isn’t going anywhere soon. International travel and relocation will be rather challenging for the next two years. Also, being an expat, even for school, can have its challenges. What country will this be in, what’s the language, how adaptable is your partner, and how much cultural and emotional intelligence does he have?

Without more info, I’d lean towards not conflating the two. If he has a niche of financial analysis in marketing, build on that to create something that would be valuable to any marketing company. See if there’s new opportunities in a new company that has overseas work or will let you work virtually. Explore what types of free or cheap resources are available to grow in a the desired area.

As for the experience of living in Europe, I’d out that off for a couple years, sort out the job thing with the focus on finding a flexible career or pathway. Then, when the dust settles, looking to be a digital nomad and explore working while traveling.

Also, be clear where you fit into this. The greatest reason expat experiences fail is if the partner or children aren’t happy with the arrangement. Lots of time and money Wasted if things end prematurely.

Joel

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Re: Advice on education for SO career change--maybe grad school in Europe?
« Reply #8 on: October 18, 2020, 04:23:54 PM »
He could always get an accounting degree in the US and work for an international Big 4 firm and do a rotation somewhere in Europe. That is a very plausible possible if one desired. I’m concerned about how an international education would translate to becoming a CPA back in the US, he will need to make 100% sure that he would be learning US GAAP and classes that will count towards the CPA licensure.