Embarking on an accounting career requires an accounting qualification and this allows individuals to earn salaries often higher than the UK average. In the United Kingdom, you could work directly for companies, an accountancy business, a government agency, not-for-profit organisations, or in consultancy.
Your job title could be chartered accountant, finance director, forensic accountant, or tax director. Duties might include report producing, bookkeeping, auditing, reconciling banking, tax preparation, providing welfare advice, producing statutory accounts, making balance sheet reconciliations, profit analysis, and client liaison and support.
So, for students and graduates considering becoming chartered accountants or similar, newly qualified accountants looking for career progression, or qualified accountants seeking top pay, our career advice makes essential reading. We share our accountant salary and average salary data and provide advice on how to earn more.
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Highlights And Key Takeaways:
- Tax Directors emerge as the top earners in the diverse accounting field, commanding an impressive average annual salary of £61,800.
HOW MUCH ACCOUNTANTS GET PAID - ACCOUNTANT SALARIES
Here are the accountant salaries for the most popular accountant roles:
FORENSIC ACCOUNTANT PAY
The average salary of a Forensic Accountant is £44,400 per year. A Forensic Accountant is an accounting professional who specialises in using accounting and investigative skills to analyse financial data to detect and prevent fraudulent activities. They work closely with law enforcement agencies, legal teams, and other financial experts to uncover evidence of financial misconduct and prepare reports for use in court.
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FINANCIAL MANAGEMENT ACCOUNTANT PAY
The average salary of a Financial Management Accountant is £51,300 per year. A Financial Management Accountant is responsible for providing financial analysis, advice, and planning to help a company make informed financial decisions. They use their expertise in financial reporting, budgeting, forecasting, and risk management to ensure that the company is meeting its financial goals and objectives.
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FINANCIAL ACCOUNTANT PAY
The average salary of a Financial Accountant is £45,300 per year. A Financial Accountant is an accounting worker responsible for maintaining accurate financial records for a company or organisation. They record financial transactions, reconcile accounts, and prepare financial statements to provide a clear picture of the company's financial health to stakeholders.
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MANAGEMENT ACCOUNTANT PAY
The average salary of a Management Accountant is £41,200 per year. A Management Accountant is an individual who provides financial information and analysis to help management make informed business decisions. They work closely with senior management to develop budgets, track performance against goals, and evaluate investment opportunities to ensure that the company is on track to meet its strategic objectives.
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TAX ACCOUNTANT PAY
The average salary of a Tax Accountant is £38,700 per year. A Tax Accountant is an accounting professional who specialises in tax planning, preparation, and compliance. They work with individuals, companies, and other organisations to ensure that they are meeting their tax obligations and taking advantage of any available tax credits or deductions.
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TAX DIRECTOR PAY
The average salary of a Tax Director is £61,500 per year. A Tax Director is a senior-level accounting professional responsible for overseeing a company's tax strategy and compliance. They work closely with executive management to develop tax policies, manage audits and investigations, and ensure that the company is complying with all applicable tax laws and regulations.
ACCOUNTANT PAY
The average salary of an Accountant is £38,000 per year. An Accountant is an accounting individual who performs various tasks related to financial reporting and analysis. They may work in public accounting firms, government agencies, or private industry, and may specialise in areas like tax accounting, auditing, or financial management.
CHARTERED ACCOUNTANT PAY
The average salary of a Chartered Accountant is £36,700 per year. Chartered Accountants are people who have earned the prestigious Chartered Accountant (CA) designation through specialised training and experience. They are typically recognised for their expertise in financial reporting, auditing, and tax planning.
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REPORTING ACCOUNTANT PAY
The average salary of a Reporting Accountant is £50,200 per year. A Reporting Accountant is an accounting professional with expertise in preparing financial reports and disclosures for regulatory purposes. They work closely with management and auditors to ensure that financial statements are accurate and compliant with applicable reporting requirements.
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PROJECT ACCOUNTANT PAY
The average salary of a Project Accountant is £47,000 per year. A Project Accountant is the person responsible for tracking and reporting on the financial performance of a specific or group of projects. They work closely with project managers to ensure that projects complete within budget and that financial results are reported accurately.
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ACCOUNTING MANAGER PAY
The average salary of an Accounting Manager is £58,600 per year. An Accounting Manager is a senior-level accounting professional who oversees the day-to-day operations of an accounting department. They are responsible for managing staff, developing policies and procedures, and ensuring that financial information is accurate and timely.
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GROUP ACCOUNTANT PAY
The average salary of a Group Accountant is £57,200 per year. A Group Accountant is responsible for managing the financial reporting and analysis for a group of related companies. They work closely with management to develop consolidated financial statements and to ensure that financial information is accurate and consistent across all entities.
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SYSTEMS ACCOUNTANT PAY
The average salary of a Systems Accountant is £47,100 per year. A Systems Accountant is a worker whose speciality is in developing and maintaining accounting information systems. They work closely with IT professionals to ensure that financial systems are efficient, effective, and secure.
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FUND ACCOUNTANT PAY
The average salary of a Fund Accountant is £54,100 per year. A Fund Accountant focuses on managing financial reporting and analysis for investment funds. They work closely with portfolio managers to ensure that fund performance is accurately reported and that investment decisions are consistent with fund objectives.
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HOW MUCH DO ACCOUNTANT JOBS PAY?
How much does an accountant earn? The average salary for an accountant in the United Kingdom, with at least five years of experience, is approximately £44,000 per year. The starting salary for a qualified accountant in the first three years is around £26,500 per annum, while an experienced accountant salary can be £72,000 annually or higher.
Many factors other than more experience and responsibilities will affect your starting salary, future wages, benefits, and bonus. Although many companies have worked hard to address the issue, the gender pay gap still exists. The location where you work in the United Kingdom affects salaries (and cost of living) offered by an employer. Furthermore, one industry may pay higher salaries, with the media industry offering accountancy employees the best wages.
More Roles Related To How Much Do Accountants Earn?
Do accountants make good money? Indeed, accounting is a profession that commands respect for its critical role in financial management and offers attractive compensation. Within the diverse landscape of public sector and private sector accounting, certain job titles stand out for their earning potential and career prospects.
Assistant Accountant Role
Starting with the Assistant Accountant role, considered an entry-level position within the accounting world, the average salary for this job title is a commendable £27,800 per year. This role is a foundational stepping stone for individuals looking to carve a niche in the accounting profession. Assistant Accountants are often tasked with supporting the finance department through various duties ranging from ledger management to preparing financial statements and reports. The ability to work independently and a keen eye for detail make this hybrid role both challenging and rewarding. The salary and responsibilities can vary depending on the company size. Still, generally, this role offers a solid starting point for those aspiring to ascend the accounting career ladder, providing invaluable experience in the intricacies of financial management.
Financial Controller
On the other hand, the Financial Controller, a more senior position within the accounting hierarchy, commands an average salary of £48,000 per year, reflecting the significant responsibility and expertise required for this role. As the financial steward of an organisation, a Financial Controller oversees the accounting operations, ensures compliance with regulatory requirements, and provides strategic insights to support business growth. This job title represents a pinnacle of career progression for many accountants, requiring an in-depth understanding of accounting principles, strategic thinking, and leadership skills. The role is pivotal in shaping the financial health of an organisation, from managing budgets and forecasts to working closely with senior management to drive financial strategy. The Financial Controller position symbolises the heights one can achieve in accounting, offering financial reward and professional fulfilment.
These roles underscore the lucrative and varied career paths in accounting. Whether at the entry level as an Assistant Accountant or the helm of the finance department as a Financial Controller, the profession offers substantial earning potential, reflecting the critical role accountants play in the economic fabric of society. With the right mix of skills, experience, and dedication, accountants can make good money and significantly impact the businesses and organisations they serve.
HOW TO EARN MORE AS AN ACCOUNTANT
We encourage you to follow our accounting career advice to advance your career and secure better salaries in an accountancy profession. Our career advice resources include free CV templates and advice on how to ask for a salary rise.
You may earn a higher accountant salaries in the accountancy sector in the United Kingdom through:
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Location and region: Accountant salaries vary by region, so we recommend checking the average salary for cities in the United Kingdom, including Inner London and Outer London. Outside of London, higher hiring and average salaries are found in Reading, Birmingham, Edinburgh, and Cardiff.
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Qualifications and skills: Your education and earning new certifications and associations can help you secure a pay rise or promotion. Educational support and training can be found through the Chartered Institute of Management Accountants (CIMA), The Chartered Institute of Public Finance & Accountancy (CIPFA), Association of Certified Chartered Accountants (ACCA), and Institute of Financial Accountants (IFA).
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Age: Chartered accountants earn more as they gain maximum experience and this typically happens in the 40-49 age bracket.
If you seek one of the highest-paid jobs in the UK, begin your job search here.
AVERAGE ACCOUNTANT SALARY FAQS
Here we answer your questions on accountant salaries and pay.
DO ACCOUNTANTS MAKE GOOD MONEY UK? / DO ACCOUNTANTS GET A LOT OF MONEY?
In the UK, accountants typically make good money, as the field is in high demand and requires specialised skills and expertise. The amount of money an accountant makes depends on several factors, such as their level of experience, qualifications, and the type of organisation they work for. Generally, however, accountants can expect to earn a competitive salary, with many earning well above the average income in the UK.
HOW MUCH DO ACCOUNTANTS GET A YEAR UK?
The salary of an accountant in the UK can vary depending on several factors. According to our data, the average salary for a newly qualified accountant is around £26,500 per year. However, this can increase significantly with experience and seniority, with some accountants earning over £72,000 per year.
IS AN ACCOUNTANT A GOOD JOB IN THE UK?
Overall, accounting is considered a good job in the UK, offering stable employment and good earning potential. The profession is also in high demand, as businesses and individuals require the services of accountants to manage their finances, prepare taxes, and provide financial advice. With the right qualifications, skills, and experience, an accountant can build a successful and rewarding career in the UK.
WHAT TYPE OF ACCOUNTANT MAKES THE MOST MONEY?
How much do accountants make? Tax Directors emerge as the top earners in the diverse accounting field, commanding an impressive average annual salary of £61,800. This role encompasses many responsibilities, including overseeing a company's tax compliance, planning, and strategy. Tax Directors are instrumental in ensuring that organisations meet their legal obligations while optimising their tax positions, which requires a deep understanding of tax laws and regulations and a strategic approach to financial planning.
The significant salary reflects the expertise and experience necessary for the role and the critical impact tax management has on an organisation's financial health. Tax Directors often work closely with senior management and are involved in key decision-making processes, particularly in financial forecasting and risk management. Their work frequently involves conducting internal audits to ensure accuracy in financial reporting and compliance with tax laws, further underscoring their role's pivotal position within the accounting and finance departments.
Given tax legislation's complexity and ever-changing nature, Tax Directors must continually update their knowledge and skills, making this a dynamic and highly specialised field within accounting. The combination of technical proficiency, strategic insight, and the ability to navigate the intricacies of tax law positions Tax Directors as the highest earners among accountants, reflecting the value they bring to their organisations and the broader business landscape.
ALL ACCOUNTANT SALARIES
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