Five accountancy stereotypes you need to stop believing

17 May 2021 by Michael Cheary

7 Career Stereotypes We Need To Stop Believing
Think a career in accountancy is boring? Think again…

From teaching to banking, many professions have stereotypes that they just can’t shake. But these misconceptions aren’t just misleading – they might be putting you off pursuing a career you’d actually love.

According to one of the UK’s leading course providers, these are five of the biggest accountancy stereotypes – and why you need to stop believing them:

It’s boring…

In a recent survey, 44% of Brits voted accountancy the UK’s most boring profession.

This placed it well ahead of other jobs, such as HR Manager and Business Consultant (12% and 9% respectively), but it’s an opinion heavily informed by stereotypes.

Common misconceptions include the idea that accountancy is all about maths, spreadsheets and taxes, while researchers from the City University of Hong Kong found that the technical language used by Accountants is partly responsible for this ‘boring’ reputation.

However, 4 out of 5 Accountants would actually recommend a career in the industry to a friend.

And with the opportunity to work on everything from high profile fraud cases to blockbuster movies, a job in accountancy can be anything but dull.

It’s a dead-end job…

Accountancy is often seen as a job that you’re stuck with for life.

However, the reality couldn’t be further from the truth. In fact, accountancy was seen as the best profession for career advancement for jobs in London and the South-East – the areas with the most people working in the industry.

And it isn’t just jobs with the ‘Big Four’ that allow you to grow. Accountants could find themselves advising CEOs on national product launches, forecasting costs for big building projects, and everything in between. Many even go on to start their own business, or work for companies on a freelance basis.

So whether you want to become self-employed, help promote the latest iPhone, or build a brand new Ferrari, it’s all possible in accountancy.

It doesn’t pay much…

OK, but once you’re qualified your pay won’t increase too much, right? Wrong.

Although Brits believe Business Consultants earn the most money, an Accountant’s average salary is far above their well-paid peers (earning an average of £51,868 vs. £44,830).

And you don’t stop earning once you hit a certain level. With further training, such as CIMA or ACCA, and the right level of experience, you could specialise in one particular area – and see your salary jump well beyond £60,000 per year.

So if you’re looking for a lucrative position with no ceiling to what you can earn, this could be the career for you.

It’s too competitive…

A lot of people might be put off of accountancy because the industry seems difficult to break into.

But the fact is, all businesses need to keep accounts – no matter what size they are. So not only is it one of the safest careers in terms of job security, it’s also one that comes with a large number of available opportunities when it comes to finding something new.

And it isn’t just open to those with a degree or many years’ worth of experience.

Everyone from a recent school leaver, right through to a career changer with no financial experience, could find a career as an Accountant.

All you need is the right mindset, and a willingness to learn.

It takes too long to get qualified…

Finally, some employers may look for certain certifications before you get started. But that doesn’t mean that the career is out of your reach.

Some accountancy qualifications, such as AAT Foundation, can take less than a year to complete – and can even be studied part-time, meaning you can fit your learning around your busy schedule.

Once you’ve completed your course, you’ll then be able to apply for Trainee Accounting Technician and Accountant Assistant roles right away, with the potential to earn a salary of around £20,000.

And with dedicated tutors to help you stay on track, and flexible payment options to suit your budget, there really aren’t any excuses not to give a career in accountancy a try.