How much money do chartered accountants earn

Chartered accountants offer financial advice, audit accounts and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes.

Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer. They work in many different settings including public practice firms and industry and commerce, as well as in the not-for-profit and public sectors. In public practice firms, chartered accountants provide professional services to fee-paying clients who might be private individuals or large commercial or public sector organisations.

In commerce, industry and the not-for-profit and public sectors, they may work in treasury management, procurement, financial management or in reporting roles. Salary packages may include benefits such as bonuses, profit-sharing schemes, medical insurance, pensions and car allowances. Chartered accountants have to undertake a training contract, usually three to five years , in order to qualify. It is therefore important to consider the package of training, leave and pay offered by employers, as studying while working can be demanding.

One of the main challenges for trainees is managing professional study commitments with the day-to-day job. Working hours vary depending on the role and the organisation, but are not typically 9am to 5pm. Working extra hours in the evening and at weekends is quite common in order to meet deadlines, particularly in larger firms. Trainees can usually have time off in lieu of any overtime worked.

Flexible working arrangements are possible usually after qualification. There is also the opportunity to work independently by setting up as a sole practitioner. Entry is open to graduates of all disciplines and, while a large number have business-related degrees, other subjects are strongly represented, including:.

A Certificate in Finance, Accounting and Business CFAB may also be a useful step between a degree and a training contract. Although entry to the profession without a degree or HND may be possible, accountancy is a highly competitive industry and graduates will have the competitive edge over other candidates.

Chartered Accountant Salary

Candidates with a degree are generally preferred to those with an HND by the large employers. Some employers train students to do the Association of Accounting Technicians AAT Accounting Qualification, which does not require a degree and can lead on to training for chartered status.

Spousal Loan - Tax Savings Opportunity - KWB Chartered Accountants Edmonton

There are three separate professional institutes of chartered accountants in the UK, as well as a number of other bodies awarding other accountancy qualifications. Entry regulations vary slightly between institutes. ICAS requires a degree or the AAT Accounting Qualification, while ICAEW will accept three GCSEs and two A-levels or a 2: One of the most difficult parts of becoming a chartered accountant is securing a training contract with an employer approved by one of the institutes.

Numeracy skills are often tested as part of the selection process. Competition to enter the profession is tough and the selection process is rigorous. It is best to start applying in the autumn term of your final year to ensure access to the biggest range of opportunities, as some employers have application deadlines at the end of October although there will be vacancies available later in the year. Many firms attend recruitment fairs and hold presentations on campus.

Take the opportunity to find out as much as possible about the job and training before applying; some firms hold short courses or open days. It is very helpful to have relevant pre-entry work experience, such as vacation work, work placements or shadowing. Although the majority of training opportunities for chartered accountants are in public practice, more and more training contracts are available in industry and there are opportunities for graduates to train with a firm of any size and sector, as long as it is authorised by one of the relevant institutes.

This means that trainees can choose their preferred working environment. Larger firms, where the vacancies are concentrated, have offices in major cities and towns around the country. Smaller firms may be concentrated in a particular location or specialise in a particular type of client. Some trainee vacancies may be available through recruitment agencies, but most employers recruit directly.

Get more tips on how to find a job , create a successful CV and cover letter , and prepare for interviews. Training to be a chartered accountant involves undertaking a training contract with an employer approved by one of the three institutes in the UK:.

The contract typically lasts three years but can take up to five years to complete in some cases, and combines professional development, practical work experience of at least days, a structured ethics component and various stages of exams.

The structure of the exams and methods of training vary slightly between the institutes. They may involve intensive blocks of time or shorter courses spread over a longer period. The qualifications cover a similar syllabus and there are a variety of exemptions for qualifications already held.

As an example of what you might expect to study, the ICAEW syllabus covers 15 modules over three levels:. Preparing for chartered accountancy examinations is likely to be a demanding learning experience and candidates need to be very focused for the duration if they are to succeed. The majority of chartered accountants train in firms of accountants public practice. However, there are now also training contracts available in commerce, industry and the public sector.

The exams are the same and only the practical experience differs. Employers will also provide in-house training on technical and general skills to help staff perform well in their job. Chartered accountants must keep up to date with technical and business issues, so there is a strong emphasis on continuing professional development CPD after qualification.

All chartered accountancy qualifications have equal status and are equally recognised, and all lead to the designation 'chartered accountant'. Candidates who qualify through ICAS or Chartered Accountants Ireland receive the designation CA Chartered Accountant , while those who qualify with ICAEW are designated ACA Associate of the ICAEW.

The majority of chartered accountants train in public practice and the first three years are typically devoted to achieving the CA or ACA qualification. During this time you build up experience and take on additional responsibilities, including supervising junior staff and liaising more directly with clients.

In some cases, there may be the opportunity for a secondment to another area of the practice to broaden your experience. You usually remain with the same employer throughout the training contract. The CA or ACA qualification provides a foundation for many different career routes, and opportunities for post-qualification progression are numerous and varied.

Staying in public practice offers the opportunity for secondments or transfers to different areas of practice e. Progression is often structured and an accountant may become a manager two years after qualification and a senior manager three years after that. Progress to partnership is competitive but is achievable between eight and 15 years after qualification. In small firms, progression may be more rapid. After training, around half of all qualified chartered accountants work outside public practice, in commerce, industry, financial services, banking and the public and not-for-profit sector.

Typical roles at the newly qualified stage include internal auditor, financial accountant and business analyst. Career progression in this setting varies, depending on individual aspirations and abilities, but it is possible to progress to finance director of a major company within ten to 15 years of qualification.

The CA and ACA qualification also opens doors to general business management careers or creates the opportunity to set up independently as a sole practitioner. Jobs and work experience Postgraduate study Careers advice Applying for university. Search graduate jobs Job profiles Work experience and internships Employer profiles What job would suit me?

Job sectors Apprenticeships Working abroad Gap year Self-employment. Search postgraduate courses Funding postgraduate study Universities and departments Study abroad Conversion courses Law qualifications.

Masters degrees MBA courses PhD study Postgraduate diplomas and certificates Professional courses Teacher training. What can I do with my degree?

What to study after 12th commerce to earn good money?

Getting a job CVs and cover letters. Applying for jobs Interview tips Open days and events. Choosing a course Getting into university Student loans and finance. University life Changing or leaving your course Alternatives to university. Jobs and work experience Search graduate jobs Job profiles Work experience and internships Employer profiles What job would suit me? Job sectors Apprenticeships Working abroad Gap year Self-employment Postgraduate study Search postgraduate courses Funding postgraduate study Universities and departments Study abroad Conversion courses Law qualifications Masters degrees MBA courses PhD study Postgraduate diplomas and certificates Professional courses Teacher training Careers advice What can I do with my degree?

Getting a job CVs and cover letters Applying for jobs Interview tips Open days and events Applying for university Choosing a course Getting into university Student loans and finance University life Changing or leaving your course Alternatives to university Post a job. On this profile Responsibilities Salary Qualifications Skills Work experience Career prospects Related jobs and courses.

View all accountancy, banking and finance vacancies. Responsibilities The role of a chartered accountant covers many aspects of finance work, including: In public practice, tasks carried out by a chartered accountant include: In commerce and industry and the public and not-for-profit sectors, work involves: Salary Starting salaries for accountants vary depending on the location, sector, size and type of firm.

Those without a degree will earn less than this. Careers in banking and capital markets tend to attract the highest salaries. Income data from ICAEW. Figures are intended as a guide only.

Working hours Working hours vary depending on the role and the organisation, but are not typically 9am to 5pm. What to expect Jobs are available in most areas throughout the UK, but are more commonly found in cities and larger towns, where higher salaries are typically earned.

Post-qualification opportunities exist overseas. There are also training opportunities overseas with the Institute of Chartered Accountants in England and Wales ICAEW - Careers. Due to the high profile, accurate and responsible nature of the work, the dress code is usually formal.

Support and advice for women entering accountancy is offered by Women in Banking and Finance , which aims to empower individuals to reach their full potential. Travel within a working day is frequent in audit work, which is carried out mainly at client premises. Absence from home overnight and occasional overseas travel is possible.

Working in other areas, such as tax, or in smaller firms, tends to be more office-based with less travel. Qualifications Entry is open to graduates of all disciplines and, while a large number have business-related degrees, other subjects are strongly represented, including: Chartered Accountants Ireland oversees both Ireland and Northern Ireland Institute of Chartered Accountants in England and Wales ICAEW Institute of Chartered Accountants of Scotland ICAS Entry regulations vary slightly between institutes.

Skills You will need to show: Work experience It is very helpful to have relevant pre-entry work experience, such as vacation work, work placements or shadowing. Jobs and work experience Postgraduate study Careers advice Log in Register. Information for other parties HECSU Research Careers Service Desk Prospects Press Desk AGCAS - our careers service partner Higher Education recruiters Graduate recruiters.

Company information Registered office Prospects House, Booth Street East, Manchester. M13 9EP Registered number England and Wales. About us Contact us Publications Cookies Terms of use Privacy Accessibility.