
Behind the Payslip: Accountant Salaries and Economic Growth
Behind the Payslip: Accountant Salaries and Economic Growth How Much Do Accountants Really Earn? And What It Means for Growing Firms in 2025 The latest breakdown from ICAEW Jobs provides a timely look at what accountants across the UK are earning, from trainees to fully qualified professionals. Whether you’re managing a small practice or scaling an established firm, the findings raise an important question: Is traditional in-house hiring still the most efficient way to grow your team? Let’s explore what the numbers reveal and how firms can respond strategically. 📊 Trainee Salaries: A Rising Investment According to ICAEW, trainee salaries now typically range from £18,000 to £28,000 per year, with the average graduate salary leaning toward the higher end of that scale. While that may seem manageable on paper, the true cost of a trainee extends far beyond base salary. Firms must also factor in: ✔️ Training time ✔️ Supervision by senior staff ✔️ Software access ✔️ Admin and onboarding costs “Salary expectations for trainee roles are gradually rising, and competition for talent remains strong in many areas.” — ICAEW In short, you’re investing a lot, before seeing a real return. 💼 Modest Increases in the Early Years ICAEW highlights that the salary gap between new trainees and those with a year or two of experience is fairly narrow, meaning progression may feel slow for employees and costly for employers still funding their development. “A relatively narrow range of salaries… reflects the limited experience of trainees and the structured nature of pay bands within firms.” That creates both retention risk and a question of ROI for firms: how long before a junior team member becomes profitable? 🎓 Qualification = Big Salary Jump One of the biggest shifts comes post-qualification. Once an ACA or ACCA designation is achieved, salaries can climb to £40,000–£50,000+, depending on role and location. That’s a big leap, but also a big retention challenge. Without clear growth opportunities or strong culture, it’s no surprise that many newly qualified accountants exit practice altogether for in-house or consulting roles. 🏢 Big Firms Pay More, But Not Without Cost Yes, large firms tend to pay better, but they also face higher churn. ICAEW notes that working environments, career development and well-being are becoming key differentiators, especially among younger talent. For smaller practices, that means it’s not just about matching salary, it’s about offering a more human experience, with real flexibility and less burnout. But even with those advantages, there’s a limit to how fast you can scale internally. 🌍 Where Outsourcing Comes In When you consider the time, cost, and management involved in hiring, it’s clear why many accountancy firms are now choosing to outsource routine work to qualified offshore teams. ✅ It’s not just about saving on salary, it’s about: Avoiding recruitment delays Reducing supervision time Getting work done faster and more reliably Freeing your team to focus on high-value advisory Instead of paying £28k+ for a trainee who needs hand-holding, you could be working with experienced professionals from day one, for a similar or lower monthly cost.











