To ask all accountants and bookkeepers to reply?

[StudentAccountant]

Posting for traffic and have name changed.

I am at the end of a level 2 AAT Accountancy course and am about to sign up for level 3.

I wondered what wage you are on as an accountant and what level of qualification you have please?

I work for a small company doing bookkeeping tasks that I was taught in house. I am slowly taking on more accounting responsibilities.

The company is not really known for giving pay rises. So I suppose I’m weighing up my options for staying vs moving on and when the right time to move if that’s best would be.

I have looked on Indeed and level 4 jobs seem to be around £40-49K a year which is more than double what I earn now.

Thank you in advance.

Where abouts in the country are you from if you mind me asking?

Apologies, I’m in the North West. But not in a big town centre if that makes sense.

My son moved from an accountancy firm to public sector on an apprenticeship. He’s 20 and earning 24k. They sponsor his level 3. He’s already completed level 2. He was earning half that amount and hating his career before he changed jobs

Level 3 AAT is equivalent to an A level. So that would really still be at entry level for most jobs in book-keeping or accounts, up to about 25k I expect. With a level 4 probably more, but you would need considerably more experience.

Do you want to work in an accountancy practice, or an accounts office in business / industry?

I’m acca qualified 21 years ago and am on 50k. I’m not that career driven though, I took a step back when I was late 30s so that I could have flex working and can work from home to be able to flex around childcare. I’ve had 1 promotion since then

BIL is an accountant and earns loads, but he's in the city and works crazy hours

Accountant by training - work in it on finance systems

100k a year

wouldn’t go back to accounting

Hmmm so a mixture then. I guess my aim is to earn enough that I don’t need Universal Credit top ups and where I can actually pay the bills AND have some left for holidays, birthdays, clothes and so on.

As it currently stands I can just cover my bills and that’s it, there is nothing spare.

I would be happy to earn £25k once I have passed level 2 or 3.

Then I may do the level 4 if I can manage it. I work full time and then study 6 hours a week plus extra studying done at home.

The high earners I know in London and other big cities (me included) are primarily ICAEW or ICAS (ACA).

The high paid job market (the bigger accountancy firms, or the finance teams at larger corporates) tends to have barriers to entry in that the recruiters or HR teams will filter candidates with high a-level grades and 2.1 degrees from russell group universities.

People without these who come via the AAT or ATT backgrounds tend to rise much slower and don't end up in the better paid jobs. I'm in the finance team at a FTSE 100 company and almost everyone is ACA, ex big four, and went to a top university.

Didn't want to sound nosey! ☺️ My partner (living in Yorkshire) after finishing his level 4, bearing in mind that he completed his in 2016, went on to earn £22,000 at a small ish company also, he has since moved company and is now going through charted accountanty. Im just wondering how much the pay has risen since then and also I would think that a £40-49k pay would sound more right if you lived in London.

Also do be aware that the lower/bookkeeping end of accountancy is losing jobs to overseas. We hire for those jobs in cheaper countries now and people work remotely.

32k, North East. I'm part way through L2 but the role is way more advanced - once the dc are older I'll do CIMA.

£40-49k would be the salary of a newly qualified chartered accountant at a big four firm - so someone with top A level grades, followed by a degree from a prestigious university, then a 3 year training contract doing ICAEW or ICAS while working.

I went straight for CIMA. Qualified 15 years ago just before DC1. Been in the NHS over 20 years and on 80% of £40k full time salary. I’m content where I am and have no desire to go higher. My job is interesting and challenging and any more money would be too stressful for me. My junior staff are AAT level 2 with no desire to progress and my assistant is new to us at AAT 4 and she earns £22.5k at the moment. We are in the SW where wages aren’t great so these are good salaries for where we live.

I am self employed book keeper charge £25 per hour but have to pay for office space etc..
I also do property management so earn a % from that, based in the north. I come out with about 35k which I am okay with single parent, mortgage etc
I finished AAT in my late 20s and then did foundation level acca. Trying to get back into it to finish professional but cant face the revision till 2am anymore as im old and tired. Plus I have no one really to oversea my 3 years experience so I feel kind of stuck

You can do lots of different roles with AAT. When I was AAT and working as a Finance Officer I was on £20k which was a while back. Now I am a CIPFA qualified accountant working in Central Government on £55k. More junior members of my team who are AAT level 4 are on £30k.

ACA and CTA, 4.5 years post qual, £72k at big four firm.

Hays recruitment agency have a good salary guide checker - it lets you select by area and sector in addition to the role itself.
It works as if you're checking your own salary, but I'm planning a restructure and used it to check market rates for the whole team that I envisage - I'd say it's a fairly accurate guide.
www.hays.co.uk/salary-guide

Oh, and in Yorkshire/North West (I work in a “North” team).

PQ CIMA - £55k FTE

I’ve learned a lot on the job but I’m unlikely to earn much more unless I progress through quals.

The issue with AAT is that it can be a bit ‘bland’ if you aren’t working somewhere with opportunities to move into management accounts and develop the role.

Once you are capable of preparing a full set of accounts without major input, prepare your lead schedules and run your audit (client side) then you’ll be able to command more salary wise.

Bookkeeping is the easy bit - it’s the more nuanced stuff you need to develop to get the higher paid roles.

I’d recommend moving to a bigger company, one that offers accountancy training and getting a role there. Transactional teams are often looking for AAT quals and will pay for you to progress. You need a better qualification to really make more money. In the meantime AR or credit roles pay around £28k in, say, the midlands.

I don’t have an accountancy qualification but have specialist skills and as a result I’m paid £165k. Good luck.

CIMA qualified 9 years, 53k in NHS up north. Fully AAT qualified you would earn 26-30k, to progress any further in NHS you would need to continue studies and do CIMA/CIPFA/ACCA. I could earn more in the private sector but choose to stay in NHS for the holidays, maternity leave and work life balance (would be v unusual to work evenings/weekends except during year end

I'm 2.5 years post qualification. I did ICAEW ACA and trained and continued work in the public sector.
On £25k during first 2.5 years of 3 year training contract, then £42k for two years, now on £50k for the past year.

At my current organisation level 7 apprenticeships (CIMA/ACCA/ACA) pay around £30k, and AAT is low to mid-20s.

This is spot on.

The highest paid accountants are Red-brick-2:1 graduates, ACA qualified, have Big4 experience and are London-based. They will either rise through a Big4 firm, earning six figures from senior manager up (4+ years post qualified), or work in the finance team at large corporations all the way up to FD/CFO level. Many will use the ACA as a springboard into ‘high finance’ roles in investment banking, private equity etc.

Routes that deviate from the above will take longer to deliver six figure salaries, but it is by no means impossible.

CIMA qualified, northwest England. Reached £70k at around 10 years post qualification.