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Career Change from Finance to HR - CIPD Advice

Richard

I have just turned 37 and have realised that after 10 years doing finance it really isn't for me. I've never really known what I wanted to do and kind of fell into finance despite never really liking it or having a natural knack to it. My current role and previous jobs have always been accounts assistant type jobs where I raise invoices, do the purchase ledger, expenses, look after a few spreadsheets and that kind of thing - all very general. Balance sheets, P&L, reporting, Inter-company, accrued revenue, management accounts packs and more advance things scare the living daylights out of me.

I don't have any accounting qualifications and whenever I have tried to do the ACCA or AAT in the past have given up because I just wasn't interested enough and couldn't take it in plus failing the so-called easy computer based exams don't exactly help.

Recently my company have employed new CFO (I work in the media/tech industry for a agency) and it's made me very anxious that my job is under threat and I am constantly worried he will soon figure out that beyond the basics I don't know a lot about accountancy, plus if I were to leave it would be very hard to get a similar salary elsewhere - I'm in the mid 30k bracket now. There is also the realisation that I can't really go any higher or forge a happier career without any professional development. Plus the thought of spending the next 30 years in finance really isn't making me feel happy about my future.

I have always been interested in HR and working in my current company I do have a fair bit of exposure to the finance side of HR (i.e. I do parts of the payroll, pension onboarding/admin, deal with HMRC, cyclesheme & other salary sacrifice things, provide HR with basic analysis and spreadsheets on recruitment costs or wage increases and that kind of thing). I think that looking at the CIPD course it is something that I would be able to follow and have a good chance of completing as it interests me and I feel does come naturally to me.  When I mentioned a career change to my friends, they all commented on how HR would be perfect for me. 

My main worry is that I am at a point in life where making a career change by starting at the bottom and taking a salary cut in order to find a junior HR job is unrealistic - I have a mortgage and other commitments.

I would most likely be looking to jump straight into the CIPD Level 5 Diploma Human Resource Management from a career and cost perspective. 

The advice I am really after is:

  • Is the CIPD course something I could do at home whilst maintaining my current finance role? 
  • I'd be doing this off my own back so without guidance from any other HR professionals or employed in a HR role so is it even realistic?
  • How long might it take? I would commit to time after work and weekends. 
  • How much would it cost at a rough guess and can anyone recommend any home learning course providers?
  • Would my HR type experience on the finance side as listed above be of any use if I were to apply for HR roles and help within the course?
  • If in 12-18 months time would it be realistic to move into a HR job without taking a big salary cut should I pass the CIPD course I am looking to take?

Thanks so much for any advise and apologies for the long post.

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  • Hi Richard,

    It is certainly possible to complete either the level 3 or level 5 in your own time. I completed my level 3 last year whilst working a 40 hour week job which was completely unrelated to HR. So the fact that you have HR elements in your current role will help.
    It wasn't always easy to be motivated to do the work. Especially when it is in the evenings/weekends. I was expected to complete an assignment pretty much every 4 - 8 weeks which I usually left until the deadline! but it is possible.

    The level 3 was completed in 9 months, however the level 5 is usually closer to 11 months on average.

    I did mine through the Home Learning College, which now have all of their courses completely online. So no need to do the 2 face to face assessments like I had to. There are plenty of other providers out there too though, so have a look and you will easily find a suitable one.

    Costs tend to be roughly around 2.5K to 3.5K for a level 5 depending which provider you go for and if you choose a specialist course (eg: L&D or HR Management)

    With regards to the roles, it would be quite difficult to transfer straight into a role at your current salary. I was going to suggest something along the lines of Keith's advice though - Payroll or Benefits roles.
    From what I have seen lately a mid range benefits and reward role is fairly well paid in comparison to a generalist HR role. With your experience in these areas you should have a bit of an advantage as well.


    Whatever path you choose to go down though, I wish you the best of luck.
  • in reply to Hannah
    Hi Richard

    Perhaps it's worth sounding-out your current employers about your career aspirations and whether or not they can be turned into a 'win-win' scenario with their HR needs, present and future. Not without risk of course - needs to be put to them the right way otherwise they might start to regard you as an ill-fitting peg and all that, But you never know - they might warm to the idea - as you observe, you already have a head start as a known quantity to them and already knowledgeable and effective about some aspects of HR

    If nothing doing, then potentially nothing lost, but tour employers aren't mind-readers either
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  • in reply to Hannah
    Hi Richard

    Perhaps it's worth sounding-out your current employers about your career aspirations and whether or not they can be turned into a 'win-win' scenario with their HR needs, present and future. Not without risk of course - needs to be put to them the right way otherwise they might start to regard you as an ill-fitting peg and all that, But you never know - they might warm to the idea - as you observe, you already have a head start as a known quantity to them and already knowledgeable and effective about some aspects of HR

    If nothing doing, then potentially nothing lost, but tour employers aren't mind-readers either
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