Accountants earn an average salary of £29,242 or £14.52 per hour, with bonus, commission and profit-sharing up to £1,497, £1,000, and £1,464 respectively.
Pay by Experience Level for Accountants
The entry-level, years of experience and the average salary for Accountants are as follow:
Entry-level Accountant with less than one-year experience earns £21,971 (bonus, overtime pay, and tips are included)
Early-career Accountants with 1-4 years of experience can expect to earn £26,031.
Mid-career Accountants with 5-9 years of experience will pocket £31,076.
Experienced Accountants with 10-19 years of experience will make £35,918.
Late career Accountants with more than twenty years’ experience can look forward to a total average of £35,514 compensation.
Essential Skills for Accountants
Financial Reporting, Microsoft Excel, General Ledger Accounting, Bookkeeping, and Financial Analysis are some of the most popular skills for Accountants.
How to Become an Accountant?
When you graduate with a degree in Accounting, you will begin the process of becoming an accountant. There are many different avenues you can follow in achieving this goal. The first step is to determine what it is you enjoy most about accounting. Understanding what you do in the field and what it would take to obtain an accounting degree is essential.
You don’t always need an accounting degree to employed as an accountant by some companies. However, graduates of accounting programs are often sought after for accounting jobs in companies, the government, the non-profit sector, and other professional organizations. A well-designed accounting program usually requires students to accumulate substantial work experience with a financial firm. Most accounting degree programs allow students to pursue a degree in two distinct tracks: accounting and real estate. Many accounting programs offer an initial accounting degree before transferring to an MBA program that may teach students a range of accounting subjects.
Accounting can include the collection and analysis of information about companies and their business operations. A certified accountant will be able to interpret these numbers and manipulate them to calculate financial information for the benefit of an organization. You must be able to accurately understand the financial statements of a company and look at the data from a different perspective.
What Do Accountants Do?
Accountants are responsible for recording income and expenses from all sources within the companies. They also provide financial information to business partners and colleagues regarding the company’s performance. Accountants are in charge of carrying out financial statements, record keeping, and maintenance of books, records, or other business documents.
The jobs of Accountants vary depending on the industry, and according to the organizational structure. For example, Accountants can be employed at more than a few corporations, firms, or service companies in a particular industry. Accountants can also be used as employees in corporate law firms, certified public accountants, tax consulting services firms, legal consulting firms, and business advisors, and practice firms.