How passing your AAT can boost your pay

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21 Jul 16

How passing your AAT can boost your pay

Hayden Luke - Fitness Expert Hadyn Luke posted this on Thursday 21st July 2016

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How passing your AAT can boost your pay

A career in accountancy can be both rewarding and well paid, and gaining an AAT qualification like those offered by CMS Vocational Training could improve your career prospects and your earning potential (see our blog on Accountancy courses and apprenticeships).

The 2015 AAT Salary and Career Survey provides an insight into the careers of AAT members and people who hold accountancy technician qualifications, and demonstrates how AAT qualifications can help you develop the skills to build a successful career in the financial industries.

The survey was carried out by an independent consultancy (Caledonia Market Research) and is based on 3,112 responses received.

How much do AAT members earn?

The survey showed that the mean (average) annual salaries are as follows:

  • Administrator: £16,348
  • Account/Finance Assistant: £18,203
  • Accounts/Finance Officer: £23,826
  • Team Leader/Supervisor: £25,354
  • Junior Manager: £28,018
  • Middle Manager: £33,303
  • Director/Senior Manager: £43,463

Since 2013, average full-time salaries have increased for all levels of membership.

It’s probably no surprise that larger companies tend to pay higher salaries and bonuses, and that London is the top paying region. In the Yorkshire/Humber region, FMAAT members (those with Fellow Membership – the highest level of AAT membership) earn an average salary of £26,107, compared with £39,253 in London, but the higher cost of living in the capital is a factor here.

Age & Gender

All age brackets have shown an increase in average salary since 2013, apart from the 16-18 age range, which has remained static.

The gender imbalance remains across both part-time and full-time roles, with male members earning on average 18% more than female members.

Bonuses

Within the last two years, 34% of AAT members received a bonus – an increase of 2% since 2013. Bonuses are typically 7% of average salaries.

Sectors

Interestingly, the lowest average salary was in accountancy firms in the private sector (£20,789), compared with private sector non-accountancy firms (£25,161), public sector (£24,995) and the not-for-profit sector (£25,547).

Job satisfaction

Job satisfaction was rated highly with almost three-quarters (74%) of respondents saying they were Very/quite satisfied with their jobs and 82% saying they were Very/quite secure.

Conclusion

The fact that salaries are increasing and job satisfaction is high are positive factors for anyone considering an AAT apprenticeship or qualification.

CMS currently offers the computerised accountancy level 2 course: AAT Level 2 Certificate in Accounting as well as further computerised accountancy level 3 training: AAT Level 3 Diploma in Accountancy and finally the  AAT Level 4 Diploma in Accountancy. Flexible learning options, including online, allow you to study at the best time for you.

Hayden Luke - Fitness Expert

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