career coach | salary survey
SALARY SURVEY
Earn more with your AAT qualification
Benefits for students
of Level 2 students say AAT has increased their earning potential.
An average median salary is
£24,500
The average bonus is
£750
of Level 3 students say AAT has increased their earning potential
An average median salary is
£24,000
(non apprentice average is £26,000)
An average bonus is
£750
of Level 4 students say AAT has increased their earning potential
An average median salary is
£26,000
(non apprentice average is £27,270)
An average bonus is
£1000
Whether you’re just a few months into your first course or are close to completing your AAT training, chances are you’re already earning more than those at the same level were a few years ago.
Since 2021, salaries, bonuses, and licensed members’ fee incomes have increased for both AAT students and AAT alumni, according to the latest AAT Salary Survey.
Among AAT Licensed Accountants with their own practices, for example, the median fee income in 2023 was £74,500, up a massive 43% on 2021 figures.
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And both qualified members and AAT students have seen a broad upswing of around 14% in salary levels during the same timeframe.
It’s yet further proof that qualifications from a renowned body such as AAT, the UK’s leading professional membership body for accountants, don’t just help you get your first job in finance; they also accelerate your progress up the pay scale throughout your career.
Emily Pallagi, MD of Ripon Recruiter, said: “I spoke to an accountant recently who said he would only employ someone who’d completed Level 3 at a minimum.
“There is definitely a sense that AAT levels are being used to help understand which candidates to progress with and those not worth pursuing.”
Progression pays
of those who have completed accounting qualifications with AAT saying that the qualification has increased their earning potential.
Level 4 completers experienced a 35% jump in average salary between Level 4 and full member status (MAAT).
of Full and Fellow AAT members (MAATS and FMAATs) agree becoming a professional member has boosted their earning power.
The path up the pay scale
After a difficult couple of years post pandemic, our survey also reveals that AAT salary increases are now firmly back on track, with 77% of non-licensed AAT members receiving a pay rise in the previous 12 months.
This puts the typical wage for a student who has completed the AAT Foundation Certificate in Accounting (Level 2) at £24,500 a year, while someone who has attained the AAT Professional Diploma in Accounting (Level 4) can expect to earn around £26,00, and FMAATs can command an average salary of £44,000.
The greatest salary increase (35%) is seen between Level 4 and MAAT status, where average wages rise from £26,000 to £35,000.
However, longevity also pays off, with FMAATS – who have at least five years of membership under their belts – enjoying a 26% uplift on a typical MAAT salary.
Craig Wiggins, Senior Consultant at staffing business Walters People, said: “Salaries have increased across the board for accounting professionals but that in part is down to an acute candidate shortage in this area.
“The biggest increases are for those professionals who have gone on to continue with further qualifications.”
The value of practical experience
While AAT training is widely recognised as a stepping stone to success, better salaries and higher earning potential are not the only reason so many people choose this route to a career in finance.
AAT students also appreciate the opportunity to gain valuable real-world experience while they learn their trade.
Of the AAT apprentices asked what they liked about their courses as part of our survey, 81% cited being able to study while gaining practical work experience.
Employers also recognise the advantage this gives AAT students over those from a purely academic background.
“Overall, what the increase in salary indicates is the value the market places on vocational and technical qualifications – where experience is of more value than a qualification alone, which is where AAT members are able to strike that perfect balance,” Wiggins added.
Perhaps that’s one reason more than half (51%) of those who studied via an AAT apprenticeship received a salary increase in the year after they completed their apprenticeship.
The benefits of AAT membership
For many people, the most obvious benefit of AAT membership is the ability to become an AAT Licensed Accountant or Bookkeeper and start you own business.
But AAT membership comes with lots of ongoing advantages, including access to a varied continuous professional development (CPD) programme.
Being able to use the AAT Lifelong Learning Portal for CPD is an important benefit of membership for 87% of AAT bookkeeping members, the survey shows.
It also opens the way for stronger connections with potential mentors and future colleagues and makes it easier to stay on top of industry changes and technological advances via the website and magazine, as well as the branch network.
The upshot of all these advantages can be seen in the salaries members can command.
While AATQB members, for example, earn an average of £27,800, AAT Advanced Diploma in Accounting (Level 3) holders who are not members take home a typical salary of £25,000, or 11% less.
As highlighted above, membership of AAT also helps MAATs to earn an impressive 35% more than their Level 4-qualified peers.
It supports our view that continuing AAT membership after your studies is one of the best ways to maintain a professional edge and earn a high salary throughout your working life.
The Association of Accounting Technicians. 30 Churchill Place, London E14 5RE. Registered charity no.1050724. A company limited by guarantee (No. 1518983).
