How Much Is An Accountant Salary In The UK

London (Parliament Politics Magazine) – You will be surprised to know that more than 30,000 people in the UK are in the accounting field. They play an essential role in all the prominent firms. An efficient accountant is responsible for preparing accounts, and budgets and keeping up with the financial information. Whether it is a private or public company, they all need an accountant. There is no doubt that a career in accounting is diverse and offers many good opportunities. An accountant can specialize in particular areas including taxation, management corporate or commercial, and international accounting. The average salary of an accountant will depend on age, skill, and experience.

How Much Does An Accountant Earn?

There are plenty of jobs that are available in the accounting field. It can be challenging to pin down a salary. Each type of accountant can expect a different salary. Most accountants in the UK can expect to earn £28,630 to £400,000 in a year. The other important factors depend on qualifications and skills in the industry. Usually, the average salary of accounts includes transport, housing, and other such benefits. Here are a few examples to give you an idea about the salary scale.

1. Accounting Technician

If you are studying for becoming an accounting technician you can expect to earn £16,000 and £22,000. Once you are qualified and have some experience it can increase the payment up to £30,000 or more. Each industry has a certain responsibility. If you can do your job well it can lead to better payments.

2. Chartered Accountant

The beginning salary of a chartered accountant is generally lower. However, you can expect a quick rise after two or four years. At that point, you can expect to earn around £56,000. The trend will continue after five years of experience. You can get £90,000 as a senior accountant.

3. Financial Adviser

The entry-level financial advisor can expect a salary between £22,000 and £30,000 during a year. Once you are qualified it will be easier to earn up to £45,000. After a year or so when you are promoted to a senior financial advisor, the pay will further increase. Your average salary can go up to £60,000. If you succeed in becoming a wealth manager for a private bank or retail the pay will go up even more. You can expect to earn over £100,000 in this position.

4. Investment Analyst

Many investment analysts who are living in London can earn between £28,000 and £40,000 in one year. During the first three years of the job, they can gain more experience. Later on, the investment analyst can expect to have a yearly bonus. The bonus usually ranges from 10 to 100% of their actual salary. Once you have an experience of five to eight years expect the earnings to go even higher.

It will be around £65,000 and £100,000 a year. Being a senior financial analyst will mean that you can get a bonus between 40 to 150%. Once you are at the senior level the pay scale will go over £110,000. Big firms can give you typical bonuses are up to 200% based on salary.

5. Finance Trader

If you are at the beginning of a finance trader career you can easily earn £26,000 and £32,000. However, it doesn’t include the commissions here. Most experienced traders usually earn £45,000 and £150,000 a year. It depends on which firm or retailer they are working with. If you reach the level of Associate trader and work in a top bank expect an even better salary. It will help you earn £230,000 a year which is massive.

6. Chief Financial Officer

Chief financial officers are one of top-ranking people in the company. They can expect a large salary due to their skills and expertise in this field. The average salary for a Chief financial officer will be £115,000 to £128,000 in London. However, many top companies offer a much higher salary. For example, when Patrick Pichette became the CFO of Google his salary shot up to $43,000,000. You will be surprised to know that it makes up £35 million. In short, there is no limit to what you earn as you move to the top positions.

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Median, Maximum & Minimum Salary Range

The accountant salaries in the UK usually range from 24,200 GBP per year (minimum salary). While the expected maximum will be 77,000 GBP per year. If we talk about the median salary it will turn out to be 50,400 GBP per year.

Beth Malcolm

Beth Malcolm is Scottish based Journalist at Heriot-Watt University studying French and British Sign Language. She is originally from the north west of England but is living in Edinburgh to complete her studies.