The average Accounting salary is £34,949. Working in Accounting you can earn between £21,000 and £62,435.
More than 300,000 professionals work in the UK's accounting field, and the role is essential in firms of all sizes. Taking on the responsibilities of preparing accounts, budgets, and financial information for public and private companies, a career in accounting offers excellent diversity.
There are opportunities to specialise in particular areas such as taxation or forensic, management, corporate, commercial, or international accounting in the accounting role.
The average accounting salary depends on your experience, education, and qualifications. Graduates typically join a company and train straight away to gain further qualifications. An accounting clerk that has gained some experience and further training can expect a salary of £37,500.
Once established in the role, you can develop your career, become a manager or chartered accountant, and earn a salary of around £55,000. Further qualifications and specialisation can earn you significantly more.
Typically working within a firm, your main duties may include preparing accounts and assuring information is accurate and up to date. Your financial acumen will be leveraged to monitor budgets and spending, conduct audits and analysis of financial performance, and ensuring financial records and statements comply with law and regulations.
The company will expect you to be responsible for handling important documents. You may also be called upon to present advice on reducing expenditure and increasing profits.
You should possess excellent numerical skills and have a passion for accuracy and attention to detail. Problem-solving and analytical thinking is a crucial skill, along with being proficient in working with complex data.
Accounting professionals are organised and able to work to strict deadlines. They are effective communicators of complex information, making this understandable to the audience, which could be an internal team, external customer, or board director.
If this sounds like you, then maybe it is time to kick-start a career in accountancy.
Careers typically start at a graduate level, and there are opportunities to develop your career in partnership with an employer through apprenticeship programs. You should expect to work in an office environment with traditional hours, depending on the role, company, and industry.
Flexibility is vital as you may need to work more hours on the run-up to significant dates and deadlines, such as the month-end and end of the financial year. You may work closely with colleagues in a team or on your own in smaller companies.
The average salary for Accounting professionals in the United Kingdom is significantly influenced by location. The general region and area will affect your base salary in Accounting jobs. However, you are not alone if relocating is not something you want to consider, and it doesn't mean that you can't make a higher income.
For example, you could choose to work for an Accounting business that is city-based. While London leads the way, working for employers located in cities such as Birmingham, Manchester, Edinburgh, Reading, Leeds, and Cardiff will help you earn higher wages per year, compared to companies situated in smaller villages and towns.
The answer to 'how much do Accounting professionals earn?' can only be answered by considering where along the career path the individual and job title sit. The total year's experience in the Accounting sector will change what the employer is prepared to offer. An entry-level Accounting salary will be the lowest, followed by fully qualified workers, senior-level staff, and management.
While you can expect a starting salary for Accounting workers to be at the bottom of the pay scale, graduates with a relevant qualification have a higher worth, commanding a better starting salary. UK training opportunities are plentiful, so even if attaining a university degree is out of the question, increasing your skills through workshops and online courses will help you raise the money you can earn a year in your chosen role.
How much are Accounting professionals paid? Our data and graphs give you guidance on the wage range and earning per annum for junior, intermediate, and senior roles.
Gaining Accounting pre-entry work experience can be crucial in helping you secure employment and a decent rate per hour. Work placements, internships, apprenticeships, shadowing, and vacation work can all help you gain the experience you need. If you cannot find work experience in the Accounting industry, you might be able to show potential employers that you have acquired transferable skills elsewhere.
As with all business sectors, the working hours in Accounting will affect what you earned during the month. Small, medium, and larger firms may pay a higher overtime rate or offer more money if you work unsociable hours, such as evenings, nights, weekends, and national holidays.
Salaries of part-time, full-time, permanent, temporary, and contract staff all differ and will affect your decision on whether you are earning fair compensation.
Before you enter salary negotiations with employers, hiring managers, or the head of HR, it pays to get prepared. Compare the salaries for the Accounting sector on this page to help determine what you are worth. You can perform a salary search for different job titles and locations.
It is worth remembering that you can profit from more than just financial benefits and performance-related commission. Is a high salary in the UK worth more than the freedom to work from home, have more paid holiday, a gym membership, or have private healthcare benefits?
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