Are you interested in crunching numbers for big corporations? Maybe you’re interested in how insurance policies work or want to help people invest? Finance and accounting is all about managing money.
What is a finance and accounting apprenticeship?
An apprenticeship in finance and accounting is a practical, work-based route into your chosen career. You will gain the qualifications and skills to work in the field while earning a salary and not paying tuition fees.
You could be working with big clients on the stock market, investing funds for companies, or predicting how much people will pay for their insurance, to name a few.
Career opportunities from a finance and accounting apprenticeship
An apprenticeship in the industry can lead to a range of careers, including:
Find out more about accounting and finance with our brand new podcast on degree apprenticeships. Get all the info you need to know from our expert panel, hosted by Radio 1’s Katie Thistleton.
Nick is a finance and accounting apprentice at PGA Tour.
£22,645
The average salary for an apprentice accountant
According to Reed, correct as of January 2023
Over 1 million
The number of people currently working in the finance sector in the UK
GOV.UK, correct as of January 2023
Tayla Johnson, accounting apprentice at RSA
What I love most is the variety of tasks I do in my role. I can try different things, decide the areas I do and don’t like, and I learn so much quicker because I actually apply what I’m learning to real, everyday situations. Balancing your day job and the study side does mean you need to plan and be organised.
Clare Connor, head of learning and development at RSA
An apprenticeship offers a structured and supportive way to develop… My top tip for anyone considering an apprenticeship in the accounting and finance industry is to do your research. There are apprenticeships available across every discipline of finance and all will offer a different experience.
Pros
You’ll learn from experienced professionals.
You’ll get professional qualifications
The finance sector generally pays well.
Considerations
Roles carry a lot of responsibility.
It can be competitive to get a place.
It’s a desk-based job.
Who would suit a finance and accounting apprenticeship?
You might be interested in a finance and accounting apprenticeship if you:
are interested in finance and how it works
are passionate about maths
enjoy working with numbers
You might be a good fit for a finance and accounting apprenticeship if you:
Discover which employers hiring apprentices in the finance and accounting sector, including Barclays Bank, Nationwide Building Society, Goldman Sachs, and more.
How do finance and accounting apprenticeships work?
An apprenticeship is an opportunity to work and study at the same time. You spend most of your time doing on-the-job training, and the rest is spent working towards a qualification. You get paid a salary and get dedicated study time throughout the week.
Apprenticeships are available at a range of levels depending on the type you do.
How long is an apprenticeship in the sector?
The length of your apprenticeship depends on the level you’re taking. For example, a degree apprenticeship could take three to six years, whereas an advanced apprenticeship could take one to two years.
What qualifications do you need?
Entry requirements are different depending on the role you’re interested in. For example, Level 2 apprenticeships generally need no formal qualifications, while you may need GCSEs and A levels for a degree apprenticeship.
Remember, it’s not all about qualifications. Employers will be looking for willingness to learn, passion, and transferrable skills you could bring to the role.
What is the salary for an apprentice in the sector?
The salary varies depending on the role you’re interested in, and every employer will pay differently. You will be paid at least the minimum wage of £4.81 per hour, but many employers offer more than this. You’ll need to have a look at some vacancies to get an idea of what the salary would be.
Mike Dawson, finance apprentice at RSA
I wanted to be in a practical environment rather than in a classroom so I could apply my knowledge straightaway... Working towards an accredited qualification is also really important to me as I want to know I’m building the right knowledge for the industry, and I’m qualified at each level along the way.
Ann-Fernee Haye, finance apprentice at Lloyds Banking Group
This apprenticeship has finally opened the door to a career for me and that’s what I’ve always wanted. I’ve already got my first promotion as a senior fraud data analyst and I’m only at the start of my career. As long as you work hard and keep building your knowledge, there will always be roles and a need for finance skills.
