The demand for professional courses has been on the rise in the UK. In fact, when joining a university today, choosing a course with a high career scope is one of the primary goals of students.

Apart from courses like engineering, which have traditionally been professional courses, even fields such as finance have had a high demand for professional courses.

When looking at the trends in the accounting sector, ACCA jobs have gained particular stride in the previous years. It is one of the most prominent fields in finance today and is expected to continue growing by an average of 7% by 2030

Besides joining auditing firms such as the Big Four, accounting graduates can also apply to be Chartered Accountants. Let’s dive a little deeper into this career aspect and explore the potential for growth opportunities.

Overview of ACCA and Financial Jobs in the UK

Chartered accountants (CAs) are highly in demand in every industry, from the smallest bookstores to the largest tech companies. In order to become a CA in the UK, you will need qualifications from the Association of Chartered Certified Accountants (ACCA) apart from your bachelor’s degree.

The ACCA is the largest accountancy institution in the world and offers accountancy qualifications that are valid globally. Once qualified, an ACCA would be responsible for managing a company’s financial accounts and tabulation. They can also be hired as financial managers who make important decisions regarding acquiring, investing, and spending company funds.

As of now, getting your qualifications from the ACCA would help secure your career by significantly boosting your credibility as a CA across the UK. 

If ACCA sounds like the career path for you, let’s take a look at one of the most optimized learning programs available.

IMS Proschool: An Optimized Way to Pursue ACCA Qualifications

Getting an ACCA qualification has never been easy. However, IMS Proschool can help optimize your journey with the help of a personal mentor who would guide you towards your goals. They also provide placement assistance so you won’t have to worry about finding jobs and can focus on their active learning curriculum instead.

Along with ACCA, Proschool also teaches you important skills such as Financial Modeling. which are important to set you apart from the rest of the crowd. These skills help you gain an edge in the interviews.

Proschool offers flexibility in their learning modes – they have classroom as well as online lectures. You can customize your learning schedule to accommodate your work times as well. With the guidance of industry experts as your faculty, none of your doubts go unsolved.

They also offer over 1000 hours of live training to help you gain industry experience before graduating. This enables you to be job-ready from entering the workforce and sets you apart from the crowd.

What are the Factors that Decide Financial Employees’ Salaries in the UK?

An Accountant’s salary is mostly dependent on their qualifications. However, there are a few other factors that can play a role here:

  • Skills

As an Accountant, it is important to work on developing additional skills that can add to your professional profile. These will help separate you from the crowd and give reasons to higher-paying firms to hire you. Some in-demand skills for financial professionals are:

  1. Auditing
  2. Tax Consulting
  3. Financial Analysis
  4. Budgeting
  5. Financial Reporting
  • Qualifications

As stated above, your qualifications would have a serious impact on the kind of job opportunities you get as an Accountant. While you can join several accountancy institutions for your qualifications, getting them from a reputable institution such as the ACCA will be beneficial. This will add more merit to your profile and open up doors in your career that wouldn’t be open otherwise.

  • Specializations

Expertise is always valued in any given profession, and finance is no exception to this fact. Once you complete your course to become an ACCA, it may be wise to try a specialization course in a field such as tax or auditing.

  • Years of Experience

Work experience is a factor that decides your payscale in nearly every profession. To become a reputable ACCA, it is important to have at least a few years of experience to back up your knowledge and skills. Without it, companies that hire you won’t have faith in your ability to respond to certain situations on the job.

  • Location of the Job

Your workplace location will also substantially impact your salary; however, it is not one you should often consider. This is because companies that pay higher due to location often do it because of the higher living expenses in that location. Unless you find a high-paying ACCA job near your home, it’s unlikely that it would matter much in your overall savings.

Why is ACCA the Best Course for Today’s Market Need?

Among all the accounting qualifications available to students in the UK, the ACCA qualification stands out the most. This is primarily because of how it is able to tackle the current market’s needs and prepare students accordingly. There are a few other benefits to taking the ACCA course:

  • Better Career Prospects and Easy Learning Curve

Compared to most institutions in the UK, the ACCA has one of the highest growth prospects for students. This is because of their strong focus on finance fundamentals that reduce the learning curve for the students while building their foundation. This allows graduates to be capable of solving most accounting problems that they may encounter on the job.

  • Practical Training Hours

ACCA focuses on giving students hands-on experience apart from their classroom studies. As a result, they give students access to practical training hours with live companies that help them get experience in the work environment before graduation.

  • Better Starting Packages for Graduates

Thanks to the reputation of the ACCA institution, the starting salaries of students are much higher than those of other graduates. The qualification puts faith in the student’s accounting and financial skills.

  • Market-Ready Skills and Tools

With the hands-on approach followed at the ACCA, graduates are trained with industry-ready tools to help build skills that will help them perform in the workforce. The syllabus is highly application-oriented and regularly updated.

What is the Scope for a Job After ACCA in the UK?

There are several kinds of jobs that graduates can take up after the completion of their ACCA course. These include:

  • Viewpoint Associate/Senior Associate
  • Artist Accountant
  • Management Accountant
  • Assistant Accountant
  • Sales Ledger Manager
  • Finance Assistant
  • Accounts Payable

These opportunities are offered by a variety of organizations, including the Big Four firms that are well known as some of the best workplaces for accountants in the UK. The salaries advertised for most of these positions are also quite competitive, with the lowest starting from £20,000 a month.

What are the Average Salaries for ACCA Graduates?

While it’s true that the starting salaries of ACCA graduates tend to be higher than those of other CAs, it will always depend on other factors. In some popular positions, ACCA graduates can expect the following starting salaries:

  • Banking – £25,000 – £30,000
  • Tax – £25,000 – £40,000
  • Audit – £23,000 – £35,000
  • Finance Manager/Consultant – £45,000 – £50,000

Who are the Top Recruiters for ACCA Graduates in the UK?

The top recruiters for ACCA graduates in the UK are the Big Four Firms, including PwC, KPMG, EY, and Deloitte. However, there are several other companies that are hotspots for young and talented CAs in the industry:

  • Grant Thornton
  • BDO
  • Haines Watts
  • Crowe Clark Whitehill
  • Saffery Champness

Final Thoughts

Completing a course from the ACCA can open up new horizons for your accounting career. If you are willing to take a step forward, it will aid you in getting your dream job in the financial industry with a good starting salary. Get in touch with our team of experts today and advance towards a bright career in finance with ACCA.

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