Chartered accountant: Salary and conditions

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Chartered accountant: Kate Baker

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There’s never been a better time to train as a chartered accountant (CA). The services of a CA are always in demand and employers all over the world understand that being ICAS trained means having the all-round business acumen that’s needed in today’s global business environment.

Starting salaries vary considerably, depending on the location and size of the firm and the sector. Salaries for trainees range from £12,000 to £18,000 for school leavers and £18,000 to £28,000 for university graduates, although they could be higher in London or lower in small regional firms.
The typical salary for a newly qualified accountant is £26,000 to £50,000+ while the average for a chartered accountant in a senior role is up to £100,000.
Salaries tend to be higher in London and the South East.
Salary packages may also 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 so it is important to consider the package of training, leave and pay offered by employers, as studying whilst 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 not uncommon 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.
Jobs are available in most areas throughout the UK, but are more commonly found in cities and larger towns, where higher salaries are typically found. Post-qualification opportunities exist overseas. There are also training opportunities overseas with the Institute of Chartered Accountants in England and Wales (ICAEW) - Careers and with the Institute of Chartered Accountants of Scotland (ICAS) .
Due to the high profile, accurate and responsible nature of the work, the dress code is usually formal.
Women make up almost 50% of the accountancy trainee intake (ACCA, 2010). Support and advice 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, which is carried out mainly at client premises. Absence from home overnight and occasional overseas travel are possible.
Working in other areas, such as tax, or in small firms, tends to be more office-based with less travel.