Accounting is a popular job due to consistently high pay rates, even for entry-level positions that do not require much experience. As with most business jobs, having an internship or some type of accounting experience can greatly aid in finding a position at a good company. There are also many types and levels of certification that can be achieved in accounting that will help employees to earn higher salaries.
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Overall Accounting Jobs
Overall, entry-level accountants tend to make around £19,500 to £29,250 per year. This wide gap occurs because of the many types of accounting jobs and the wide variety of tasks entry-level accountants may be called upon to perform. Generally, if accountants receive bonuses of any sort, they tend to be around £1,300 to £1,625 for entry-level positions. Commissions, if received, tend to be around £3,250.
A public accountant works in an accounting firm and helps many different organisations and individuals sort through their accounting procedures. Typically a public accountant works in either taxes or audits. Because these accountants work for many different people, they sometimes need more experience and certification than other types of accountants and earn slightly more. Average public accountant salaries range between £24,050 and £29,250. A good job may pay as much as £35,750 for someone with a good degree.
A staff accountant works only for a single company and is usually in charge of running budget analyses and projecting costs and returns for a variety of projects. These accountants may also be in charge of internal audits and control procedures that keep the company honest and accurate. Accountants in these areas tend to make between £19,500 and £29,250, although levels can vary based on the nature of the position. Managerial accountants in companies may easily make £39,000, although these positions require previous experience.
Income accounting refers to simple accounting jobs for which little training or certification are needed. This includes loan servicing and loan collection, payment processing and other clerk work that must be done in businesses in order to process transactions. These entry-level positions pay far less than others, usually between £13,000 and £19,500.
For public accountants especially, what firm employees work for can affect how much they make. Those who find entry-level jobs for the Big Four (PWC, E&Y, Deloitte and KPMG) are likely to make higher salaries than those working for smaller firms. Those with a degree from a well-respected accounting program at a well-known college can also generally make more money in an entry-level position.
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