Accountants Salary UK

Accountant Salary UK

An accountant prepares and examines financial statements, company records, and other financial data, ensure that financial records are accurate and that taxes are paid. They keep in check that the financial regulations and standards are being followed. Accounting is a broad profession, which can be done by a wide array of personalities and individuals with different skill sets. The duties of an accountant are as follows:

  • Reconciling the company’s bank statement and account ledgers.
  • Examine the employee expenditure.
  • Managing income and expenditure accounts.
  • Generating the company financial reports using income and expenditure data.
  • Filling and remitting taxes and other financial obligations.
  • Analysing accounts and business plans.

The typical working hours of an accountant are 9 to 5, however there could be extended working hours during peak times like closing. If an individual is easily affected by stress, then working as an accountant would become a stressful job. Accountants are known for receiving good pensions, healthcare, holiday time, and other benefits.

Average Accountant salary in United Kingdom

The average salary of an accountant in the United Kingdom is £35,831/yr. The average is calculated from the sample of five different hiring websites, including Glassdoor, Payscale, Reed, Indeed, and totaljobs. This average is based on a sample of 15,120 job posts on the mentioned websites.

The salary range of an accountant varies from £20,000 to £60,000 in the United Kingdom. This range is due to many factors, variables, which are discussed next.

Variables that determine salary of Accountant in United Kingdom

  1. Geographical location: The pattern of salaries paid in the United Kingdom varies from location to location. The highest paying cities for an accountant in the UK are London, Milton Keynes, and Derby.
  2. Level of experience: The experience of an accountant depends; the more experienced the individual is the more pay he/she would get.
  3. Skillset: The level of numerical skills a person knows to the certification/courses he/she has done defines the skillset. The skill set determines the salary of an individual.

Skills, Qualification and Career Development

An accountant can work in three broad career types, which are Public accountant, Industry accounting, and government accounting. The typical employers of an accountant are;

  • Private firms of accountants
  • Professional service firms
  • Industrial organizations
  • Charities and non-profit organization
  • Commercial and corporate organizations
  • Government bodies
  • The public sector

A bachelor’s degree in accounting, economics, or business is beneficial in attaining a position as an accountant. A chartered accountancy qualification is an added advantage. The key skills that employer’s look for in an accountant are;

  • Integrity
  • Business acumen and interest
  • Organization skills
  • Manage deadlines
  • Teamwork abilities
  • Communication and interpersonal skills
  • Proficiency in IT
  • Analytical ability
  • High level of numeracy