Starting salaries for accountants vary depending on the location, sector, size and type of firm. Graduates entering the career can expect to earn salaries of up to £25,000. Those without a degree will earn less than this.
Once fully qualified, accountants can earn £26,000 to £50,000+. According to a 2014 salary survey by Stott and May, the average earning potential of chartered accountants with two years of experience is £47,900 plus bonus.
The average annual salary in business is £90,800.
Careers in banking and capital markets tend to attract the highest salaries.
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.
Registered office:Prospects House, Booth Street East, ManchesterM13 9EP
Registered number: 2626618 (England and Wales)
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