Career in the luxury watch industry

[RBR76]

I am a mid-career person and considering a switch in career to the luxury watch industry.

I have been pondering for the last few months over a career switch. I have a finance degree and am in accounting for a number of years.

I started this watch hobby in 2008 and have been educating myself ever since through the internet and forums like this.

Other than accounting, watches is the next thing i know.

My question is whether i should pursue a career in the watch making aspect or business development / retail aspect of the industry? I understand that strict requirements may apply if i intend to pursue a career in watch making.

What is the difference in terms of pay/rewards, recognition and long-term prospects?

[conkers]

I would love to have a career change like this too.

Obviously the answer to your last question depends very much on where you are now. If you are in the finance industry, and in your case let's say you are a qualified accountant, then I imagine it will be a step down in pay and rewards; recognition and long-term prospects are similarly difficult to assess.

In my case, I would be doing it because I want to be passionate about how I spend a large percentage of my waking hours, and so the more "material" aspects of the job are of lesser significance.

I suspect if you are on the business development/retail side, and are good, you can do very well, and with a finance background, this would certainly help ascend the management ladder.

On the watchmaking side, the drivers are very different, and it may be struggle to get in later in one's working life, as I believe they prefer to take very young apprentices in. However, master watchmakers are tough to come by, and I would say you could have a very rewarding job doing this - in terms of progression, then you might measure it by the types of movement on which you are allowed to work etc..

[RBR76]

Originally Posted by conkers

I would love to have a career change like this too.

Obviously the answer to your last question depends very much on where you are now. If you are in the finance industry, and in your case let's say you are a qualified accountant, then I imagine it will be a step down in pay and rewards; recognition and long-term prospects are similarly difficult to assess.

In my case, I would be doing it because I want to be passionate about how I spend a large percentage of my waking hours, and so the more "material" aspects of the job are of lesser significance.

I suspect if you are on the business development/retail side, and are good, you can do very well, and with a finance background, this would certainly help ascend the management ladder.

On the watchmaking side, the drivers are very different, and it may be struggle to get in later in one's working life, as I believe they prefer to take very young apprentices in. However, master watchmakers are tough to come by, and I would say you could have a very rewarding job doing this - in terms of progression, then you might measure it by the types of movement on which you are allowed to work etc..

Thanks for the reply.

The accounting sector is getting more unstable and demanding to the point of disillusion for me.

There are a lot of outsourcing to countries like India, Philippines and China. There are still jobs, but for those who left behind it is not going to be easy.

With companies becoming bottom line focus, working in a cost centre like finance department does not really bode well. In addition to drawing an above average pay scale.

[AK797]

I often think I wouldn't mind working in an ADs for one afternoon a week, Id probably do it for free tbh.

[kilyung]

Having spent enough time in ADs, you couldn't pay me enough to deal with window shoppers... and yes I'm one of them!

[conkers]

Originally Posted by kilyung

Having spent enough time in ADs, you couldn't pay me enough to deal with window shoppers... and yes I'm one of them!

Funny Mike!

[perpetualman88]

I studied accounting in college with the intention of going to law school. By the time I had graduated college I had already decided I needed to be in a career I love and thats watches :)
I say go for it. You have to go for what your passionate about

Best job = Rolex rep

great pay, crazy cool benefits, huge rolex discounts and you are only dealing with ADs no retail customers

[jerseyden]

If you have a job you love, you will never have to work again