Accounting apprenticeships

Providing a structured route into the industry, an accounting apprenticeship is the perfect option if you're looking to gain a recognised accountancy qualification, learn on the job, and earn a wage

Accountancy is a highly skilled profession where formal qualifications play a vital role in the career journey. Therefore, an apprenticeship that combines work with study is an appealing choice for many. Apprenticeships can also offer a fast track to chartered accountant status.

Depending on the level of apprenticeship and the job role, you could be involved in a variety of financial activities, from managing bills and expenses to payroll and taxes.

Types of accounting apprenticeships

There are three levels of apprenticeship, each allowing you to train for different finance roles:

• Intermediate (Level 2) - equivalent to GCSE standard, includes accounts assistant/clerk, cashier, finance assistant and sales ledger clerk.
• Advanced (Level 3) - equivalent to A-level, this covers assistant accountant and trainee accounting technician roles.
• Higher (Levels 4-7)/degree (Levels 6 and 7) - higher apprenticeships are equivalent to foundation degree and above, with accounting degree apprenticeships providing an opportunity to gain a full Bachelors or Masters degree. You could work as an accounts manager or accounts technician.

See GOV.UK - Become an apprentice for more general information.

AAT apprenticeships

The Association of Accounting Technicians (AAT) offers the Accounts/Finance Assistant Apprenticeship (Level 2), Assistant Accountant Apprenticeship (Level 3) and the Professional Accounting Technician Apprenticeship (Level 4).

Its Level 3 and Level 4 Diplomas in Accounting allow apprentices the opportunity of studying towards a globally recognised qualification.

The AAT Diploma in Accounting is expected to take around a year to complete, although it's possible to do so in as little as six months, while the Diploma in Professional Accounting usually takes between 12 and 18 months.

If you're 16 or older and aren't in full-time education, you'll be able to apply for an AAT accounting apprenticeship. There's no upper age limit and they've proved popular with career changers.

As an apprentice, you'll need to work a minimum of 30 hours per week, and you'll receive the National Minimum Wage (NMW) or higher. The average weekly wage is £170, and you'll also receive a holiday allowance. By completing the professional level qualification, you can expect to earn around £24,500.

Once you begin your apprenticeship, you'll register as an AAT student where you'll be given the necessary study materials and support to kick-start your accountancy career.

As one of the 'big four' professional services firms, KPMG has embraced AAT qualifications for its five-year KPMG360° Consulting Apprenticeship programme for school and college leavers.

Apprentices will progress from the AAT Level 4 Junior Management Consultant Apprenticeship (two years) to a Level 7 professional qualification (final three years) such as the ACA, depending on your chosen business area.

ACCA apprenticeships

The accounting apprenticeships offered by the Association of Chartered Certified Accountants (ACCA) are open to school leavers and graduates alike.

You'll find that it takes 12 to 18 months to complete the Level 4 ACCA Accounting Technician Apprenticeship and achieve the Diploma in Accounting and Business.

The Level 7 ACCA Professional Accountant Apprenticeship is aligned with the full ACCA qualification, and is expected to take about three years.

Those on an ACCA Accounting Technician Apprenticeship can expect to work in a range of industries and be given the opportunity to progress on a starting salary of around £15,000. After you finish your apprenticeship, you could be earning around £25,000 as a trainee accountant.

You'll also have the chance to study for a BSc in Applied Accounting from Oxford Brookes University or an MSc in Professional Accountancy from the University of London.

By attaining the professional ACCA qualification and becoming an ACCA member, you'll be able to earn £50,000 as a newly qualified chartered accountant.

Chartered accountant apprenticeship

An accountancy apprenticeship with the Institute of Chartered Accountants in England and Wales (ICAEW) can be used as a starting point before qualifying as an ICAEW Chartered Accountant.

The Level 4 ICAEW Accounting Technician Apprenticeship enables you to attain the Certificate in Finance, Accounting and Business (ICAEW CFAB). While this is a standalone qualification, it incorporates the first six exam modules of the professional ACA. It takes 18 to 24 months to complete and is the equivalent of the first year of a Bachelors degree.

If you've already decided on a career in accounting and are aiming to complete the full ACA, the Level 7 ICAEW Accountancy Professional Apprenticeship allows you to gain advanced business knowledge as well as leadership and communication skills.

By completing this Masters-level apprenticeship within 36 to 48 months, you'll be on your way to becoming a fully qualified chartered accountant.

Apprentices on both programmes will be allocated time away from the office for study and to sit exams.

In terms of entry requirements, these are determined by the employer, but you'll need a grade 4 or above in GCSE maths and English - plus two A-levels (A*-E) - if you're looking to go down the Level 7 route.

For example, to gain entry onto accountancy and business advisory firm BDO's audit school leaver apprenticeship programme, you'll need grades 9-4 in GCSE maths and English, plus three A-levels at A*-C (or equivalent).

This four-year apprenticeship allows you to achieve the ACA, if you're based at one of their English offices, or the Institute of Chartered Accountants of Scotland's (ICAS) chartered accountant (CA) qualification, for those working in Scotland.

Read more about the apprenticeships available at BDO.

CIMA apprenticeships

The Chartered Institute of Management Accountants (CIMA) has developed the Level 4 Professional Accounting Technician Apprenticeship for school leavers and those looking to upskill, as well as the Level 7 Accountancy/Taxation Professional Apprenticeship.

For the entry-level CIMA apprenticeship, you'll study the CIMA Certificate in Business Accounting (CIMA Cert BA), providing you with the key finance and business skills to become a management accountant.

Even if you're already on your way to finishing university, and have just a basic knowledge of management accounting, you could consider the CIMA Professional Qualification, a globally recognised award, which can lead to becoming a Chartered Global Management Accountant (CGMA).

Many leading recruiters including Amazon, BAE Systems and Jaguar Land Rover offer CIMA apprenticeships.

For instance, Jaguar Land Rover's four-year Level 7 finance programme, based in the West Midlands, supports apprentices as they work towards achieving CGMA status while getting to earn a salary of £24,480.

Actuarial apprenticeships

If you've a passion for maths, data and analytics, you might wish to pursue a career as an actuarial analyst in the financial sector.

Endorsed by the Institute and Faculty of Actuaries (IFoA) and available through BPP, the Level 4 Actuarial Technician Apprenticeship provides an entry-level route into the profession. This apprenticeship lasts for two to three years.

BPP also oversee a 45-month Level 7 Actuary Apprenticeship leading to the IFoA Actuary designation.

To join this programme, you'll typically need a degree in a numerate subject such as maths, economics or statistics, but if you hold a grade B or above in A-level maths you may still be considered. Those who've successfully completed the Level 4 apprenticeship may also be eligible for entry.

Find out more

• Explore accounting courses and professional qualifications.
• Read about becoming an accountant.
• Discover how to apply for an apprenticeship.