How Much Can You Earn With a Finance and Accounting Degree?

Finance and Accounting graduates are among the top earners in the UK. In a world that revolves around financial stability and wealth management, the expertise these graduates bring is invaluable. 

Delving into the core of business operations, a Finance and Accounting degree doesn't merely teach students about numbers; it equips them with the ability to decode the story behind these numbers—what drives profit, what signifies growth, and what indicates potential pitfalls. 

In this article, we'll look into the attractive earning potential that awaits these individuals and see how it stacks up against other prestigious disciplines, illustrating the vast horizon of opportunities that stem from mastering the art of finance and accounting.

Earnings of Finance and Accounting Graduates:

• Out of University: Typically, entry-level positions for Finance and Accounting graduates in the UK average pay £27,000 to £32,000 annually. However, this can vary depending on the region, company size, and specific role.
• Average Wage Through Career: As one gains experience and progresses in their career, the average wage can increase significantly. Mid-career professionals can expect salaries between £50,000 to £80,000, with senior roles and positions in financial hubs, like London, pushing salaries beyond £100,000.

Comparison with Other Degrees:

The following numbers are approximate averages and can vary based on factors like location, experience, and industry.

Finance and Accounting:

• Entry-level: £25,000 - £35,000

• Mid-career: £50,000 - £80,000

Law:

• Entry-level: £28,000 - £40,000

• Mid-career: £60,000 - £120,000

Engineering:

• Entry-level: £26,000 - £35,000

• Mid-career: £45,000 - £75,000

Medicine:

• Entry-level (Residents): £27,000 - £35,000

• Mid-career: £80,000 - £150,000 (depending on specialisation)

High-Paying Jobs Related to a Finance and Accounting Degree:

Investment Banker:

• Potential Earnings: £50,000 - £200,000+ with bonuses.
• Role: Assist in large, complex financial transactions, including mergers and public offerings.
• Who Would Enjoy This: Those who thrive in high-pressure environments, possess excellent analytical skills, and have an understanding of markets and financial instruments.
• Additional Training: Many investment bankers start their careers after completing an MBA or a specialised Masters in Finance. Internships or analyst programs at investment banks are also common starting points.
• Certifications: Chartered Financial Analyst (CFA) is a valuable certification for many roles in investment banking.

Corporate Treasurer:

• Potential Earnings: £60,000 - £110,000.
• Role: Oversee organisational financial activity, ensuring liquidity and managing risks.
• Who Would Enjoy This: Individuals who are adept at managing an organisation's finances, ensuring liquidity, and strategising for long-term financial sustainability.
• Additional Training: Advanced courses in corporate finance, risk management, and liquidity management.
• Certifications: The Association of Corporate Treasurers (ACT) offers various qualifications.

Forensic Accountant:

• Potential Earnings: £40,000 - £90,000.
• Role: Investigate financial discrepancies and fraud, often aiding legal proceedings.
• Who Would Enjoy This: Curious minds who enjoy detective work, uncovering financial discrepancies, and providing expertise in legal proceedings.

Management Consultant:

• Potential Earnings: £45,000 - £150,000.
• Role: Advise organisations on financial strategies and business operations to improve profitability.
• Who Would Enjoy This: Those who relish the challenge of solving organisational problems, improving business performance, and strategising for future growth.

Private Equity Analyst:

• Potential Earnings: £40,000 - £120,000+ with bonuses.
• Role: Evaluate investment opportunities for private equity firms.
• Who Would Enjoy This: Individuals keen on industries, analysing companies for potential acquisition, and having a direct impact on business growth and profitability.

Hedge Fund Manager:

• Potential Earnings: £60,000 - £1,000,000+ depending on the fund's success.
• Role: Oversee and make decisions for hedge funds aiming for high returns.
• Who Would Enjoy This: Those with a risk-taking appetite, possessing an excellent grasp of financial markets, and who enjoy strategising for maximum returns.

Chief Financial Officer (CFO):

• Potential Earnings: £90,000 - £200,000 in medium firms; £200,000+ in large corporations.
• Role: Direct and oversee all financial activities of a company.
• Who Would Enjoy This: Individuals who enjoy overseeing financial operations, implementing strategies to achieve long-term financial goals, and collaborating with senior management.

A Finance and Accounting degree can lead to a lucrative career. Starting salaries are competitive and the potential for six-figure salaries (and beyond) is very much within reach for those who dedicate themselves and continue to advance their skills and qualifications.