Routes to becoming a chartered accountant

If you take an apprentice route to become a chartered accountant will it be harder to get a job if others have got a degree?
Will your overall salary be less if you got an apprenticeship/school leavers?
Can someone please tell me the benefits and drawbacks of becoming a chartered accountant through an apprenticeship (after college) rather than going to university? Thanks

Reply 1

Talisker

I'm a graduate currently training towards becoming a CA with a top 10 firm and we have a number of apprentices with us so I'll try to answer from the best of my experience. In terms of job opportunities after qualifying, degrees become almost completely superseded by being a chartered accountant. By that stage if you have your accountancy qualification that is the main prerequisite for any job and from there the most important factor is your skills and experiences. Put it this way; the job market after graduating university is tough. The job market once you have a CA/ACA and years of experience isn't. You can (within reason) almost pick your job (and on a very good salary) - after university it's likely you'll be happy to take any job you can get (and on a fairly low entry level salary).

Starting salary for apprenticeships is less than graduates (generally £12k - £19k compared to £19k to £27k, dependent on location). However after qualifying you'll be on the same as any other newly qualified regardless of their route (roughly £35k - £43k, again dependent on location). Bear in mind you'll possibly be younger than the graduates at that stage too, and this works hugely in favour of school leavers who wish to work their way up in the firm; a large proportion of directors and partners came straight from A levels and never went to university. You will also have more years experience in your training which is only a benefit, and it also makes the studying process slightly easier as exams are more spread out. It's also a nice feeling being paid to go to college/study whilst knowing you could be in university being saddled with debt!

The only potential career drawback is that some companies (especially banks) still require a relevant degree but it's not especially common and if you wish to continue in accounting practice you won't face this barrier. Also, if you wish to work abroad after qualifying you may find yourself slightly more restricted than a graduate as many countries require you to have a degree in order to qualify for a visa.

Overall there's not really too much downside at all to an apprenticeship in accountancy and had I been aware those opportunities existed I probably wouldn't have gone to university.

(edited 8 years ago)

Reply 2

ICAEW Advisor Jackie

Hi haidaryousuf,

As an Apprentice you would years of work place experience and ACA exams behind you that candidates fresh from university may not have.

We can't tell you which route to take but a Higher Apprenticeship is a great way of earning a salary while you train and still achieving the ACA qualification just as a graduate would.

You can search for Higher Apprenticeships on icaewtrainingvacancies.com.

Kind regards,

Ashleigh

Routes to becoming a chartered accountant

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