Your route into 5 high-paying accounting jobs

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A new year is a chance for a fresh start. For many of us, this means a change in workplace. Or even a move to a different industry. If a high salary is top of your 2022 tick-list, accounting could be the sector for you.

Salaries have risen for accounting vacancies in recent months due to the lack of qualified talent available in the hiring market. Savvy job-seekers are realising that accounting qualifications can be the fast track to a healthy pay packet. So if you’re already on the path to certification, or are beginning to consider studying accounting, the good news is you have the potential to be a high earner.

Here are some roles worth considering:

Production Accountant

Accounting qualifications can catapult you into an exciting career in any number of industries, including film and television. As a Production Accountant, you’re responsible for budgeting and forecasting the spend on films or TV programmes.

It’s a collaborative role that involves working closely with Producers and heads of departments. As such, soft skills will be important, alongside accurate bookkeeping and the ability to produce detailed cost reports.

In the UK, the national average salary for a Production Accountant is £43,120.

Management Accountant

Management Accountants monitor the company’s financial performance and find ways to improve profitability. Cost analysis, budgeting and strategic planning are all part of the job.

Clear, confident communication skills are a must as you’ll present financial information to the company’s decision-makers.

Across the UK, the average annual salary for a Management Accountant with some prior experience and relevant skills is £46,000. This climbs to £50,500 with increased experience and skills.

Fund Accountant

At entry level, Fund Accountants in the UK can expect to earn an average salary of £49,250. For fully-qualified professionals with several years’ experience, that rises to £56,500.

Day-to-day, Fund Accountants prepare reports to show yields, net asset values and distributions, as well as reconciling different accounts. The work will vary depending on the setting – government, non-profit, hedge funds and so on. But the main purpose is to ensure that each fund is achieving its objectives, while remaining compliant.

Financial Analyst

A Financial Analyst will assess projects to decide whether they are suitable for investment. In this role, you’ll analyse data to identify trends in turnover and profit. Your reports could influence decisions such as whether to buy or sell a company’s stock.

Specialist training is the fastest route to a higher salary, and those interested in this career will benefit from taking the ACCA Strategic Professional Options exams in Advanced Performance Management (APM) and Advanced Taxation (ATX).

The average salary for a Financial Analyst with some experience and mid-level skills is £65,250. Gain more experience and improve your skills, and you’re looking at an average pay packet of £78,750.

Finance Controller

With extensive prior experience plus relevant skills and qualifications, a Financial Controller in the UK can earn an average salary of £97,500.

It’s a substantial role with a long list of responsibilities. Day-to-day, you could expect to supervise VAT returns; ensure the completion of bank and balance sheet reconciliations; oversee the preparation of month-end and year-end accounts; and manage the audit process.

There’s also an element of analysis, and companies will rely on the insights of their Financial Controller to shape financial strategy.

Qualifications to help you earn a great salary

You’ll need to gain certification for these roles, and many choose the Chartered Institute of Management Accountants (CIMA). This is the qualification you need if you want to lead finance departments or provide management accounting consultancy.

Alternatively, you could train with the Association of Certified Chartered Accountants (ACCA) and progress through to the Strategic Professional qualification. This route is ideal if you’d like a career in finance, business or accountancy, or would like to become a Chartered Certified Accountant.

Increase your earning potential with digital skills

Research by the ACCA says digital skills are among the most sought after by employers. In response, both the ACCA and CIMA have increased the digital content of their courses.

And the AAT will be updating its Q2022 syllabus to reflect the need for technology skills. The Level 3 qualification, for instance, will include block chain, AI machine learning, data analytics, cloud accounting and real-time data.

Where in the UK can accountants earn the best salary?

To maximise your earnings, you need to consider location. Research by Robert Half reveals the national trends and, as you might expect, London is the hot spot. The average accounting salary in the capital is 15% higher than anywhere else in the UK.

The next best location is South East England where the average accounting salary is 3% higher than the national midpoint. But for the rest of the UK, average salaries for the same role can vary.

To give you an idea of what that looks like, here’s the average salary for a mid-level management accountant by location:

London: £52,900
South East England: £47,380
East of England: £45,540
West Midlands: £45,540
Scotland: £45,540
North West England: £45,080
South West England: £45,080
Yorkshire: £44,160
North East England: £43,700
East Midlands: £42,780
Wales: £42,780

Landing the right job

You’ll need to pass your exams and put in years of quality work to land one of the highest paying accounting jobs, but the rewards can be great – and the salaries too. Eagle Education has been supporting learners for nearly 20 years. Our distance learning courses offer a flexible and cost-effective way to gain qualifications. So if you’ve got your sights set on a high-paying accounting role, start your journey today.

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