If you’re thinking about making a career in Accounting & Finance, I believe it’s super important to become qualified either through the ICAEW, CIMA or ACCA - for lots of reasons but primarily as companies see it as a requirement for employment. There are exceptions to this though, in particular if you’re coming from overseas and don’t have the same formal qualifications. Most companies keep an open mind and are aware that there are not necessarily the same requirements in Spain, Italy or France, for example. They might also offer you the chance to get the UK qualification and offer study support (paying for the exams and time off to revise!).
For UK-based accountants, normally the exams take place over a three year period and once qualified there is a minimum salary benchmark that you can expect to achieve, but it does depend on what qualification you end up getting - see our salary benchmarking article.
Each qualification varies in terms of what’s required and the type of work you can expect to do once qualified and it’s your choice which route you decide to take. I'm happy to give you my thoughts on the pros and cons for each, just give me a call or write me an email.
Links to these qualifications can be found below:
ICAEW
This is normally obtained through working at a practice firm such as PwC, EY, Deloitte, etc. There are some 'industry' businesses which are accredited and can 'sign-off' on ICAEW through the various stages, but the most common route is through practice, normally as an Auditor, within Transaction Services or Corporate Finance, or similar.
CIMA
This is normally obtained within industry and as part of a Commercial Finance, FP&A Finance graduate scheme (for example). Most big companies are accredited with CIMA and smaller companies see the need to become CIMA-accredited to attract talent.
ACCA
Like CIMA, this is normally obtained within industry but would typically be part of a Financial Accounting graduate scheme. Again, most big companies are accredited with ACCA and smaller companies see the need to become ACCA accredited to attract talent.
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