how long does it take to qualify ACA on a school leaver apprenticeship?

I'm hoping to secure a school leaver apprenticeship with a top 10 firm.

On average, how long does it take to be fully qualified? And what is the salary progression from start to immediately post qualification?

Reply 1

MindMax2000

Universities Forum Helper

Original post by lindseywalsh

I'm hoping to secure a school leaver apprenticeship with a top 10 firm.
On average, how long does it take to be fully qualified? And what is the salary progression from start to immediately post qualification?

On average, how long does it take to be fully qualified?
To qualify under ACA, you would need to pass all 15 papers and have at least 3 years' qualified work experience. There are 4 exam cycles per year, so if you pass 2 papers per cycle (as most people do) you can finish all the papers within 2 years. As such, you should qualify within 3 years (the work experience starts the day you work in an accounting role under an ACA fully qualified accountant).

If you didn't pass all 15 papers within the 3 years after you start your role, then it's whenever you pass all 15 papers.
Even if you pass all papers within your first year (doing 3-4 papers per cycle, which is incredibly intensive), you would still need to wait for another 2 years to fully qualify.

And what is the salary progression from start to immediately post qualification?
This depends on the individual firm. Not all firms pay £30k as a starting salary, and some firms pay as low as £15k. Some firms pay as high as £60k+ for some accounting roles, and they will vary depending on what specific role that you apply for. Most firms outside of the top accounting firms can pay £30k for fully qualified accountants.
Do note, the general rule of thumb with higher paying roles is that you tend to put in more hours than you would with lower paying ones. Typical hours can be 60 hours per week (if not more) and expect not to take all of your annual leave (even if you're entitled to do so) at some places.
As such, I can't advise on this. Some people who work at said accounting firms can point this out, but I don't think anyone can firmly say what you will definitely get when you apply for the job.

Reply 2

ajj2000

Original post by lindseywalsh

I'm hoping to secure a school leaver apprenticeship with a top 10 firm.
On average, how long does it take to be fully qualified? And what is the salary progression from start to immediately post qualification?

hi

Its worth looking into each scheme to see how long it takes as this does vary by firm. Roughly speaking the range for a school leaver scheme will be between 4 and 6 years. Some schemes start with AAT and then progress to chartered exams while others progress start directly with ACA.

Reply 3

lindseywalsh

Original post by ajj2000

hi
Its worth looking into each scheme to see how long it takes as this does vary by firm. Roughly speaking the range for a school leaver scheme will be between 4 and 6 years. Some schemes start with AAT and then progress to chartered exams while others progress start directly with ACA.