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How Much Can You Earn With AAT?

How Much Can You Earn With AAT?

AAT qualification is equally beneficial for experienced finance professionals and freshers who switched to accounting and finance. The monetary benefits of AAT are often highlighted as the accounting career helps you earn higher salaries than other fields.

Having extensive experience and skills impress employers to hire you for their firm to enjoy various benefits. To prove their worth, AAT annually publishes their salary survey to signify the value of their qualification. The present article will guide you to earning potentials in each AAT qualification level, job level, and AAT membership level.

Average Income after AAT Qualification

The average salary of AAT qualified students is £22,000 that increases up to £30,000 for students having MAAT level qualifications after completing a professional diploma. Fellow members who have completed five years as full-time members can earn an average salary of £40,000.

What are the average salaries of AAT qualified individuals after completing each level?

The average salaries of AAT qualified individuals increase with advancement in each level. The three groups consist of different expertise, and thus, with improved skills complexity, your potential earning rises.

AAT Level 2 Foundation Certificate

The course is the basic level and acts as a starting point for an accountancy career. It does not require prior experience, and thus anyone can undertake it. After completing the course, the students acquire double-entry bookkeeping, cost management, accountancy software knowledge, and financial statements. Therefore, the jobs afterwards include account payable clerk, account clerk, payroll administration, and finance assistant. The jobs are entry-level, and salaries are up to £23,000 depending upon your skills and knowledge.

AAT Level 3 Advanced Diploma

The course is more advanced than the level 2 foundation certificate and offers more detailed information and knowledge of accountancy and finance. The course develops an understanding of accountant ethical practice, advanced bookkeeping, and financial processes. The job roles after completion of the advanced diploma, you can work as an account assistant, advanced bookkeeping, and finance officer and earn up to £25,000 depending upon your skills and knowledge.

AAT Level 4 Professional Diploma

This level is the final level qualification and provides a more complex understanding of accounting and finance topics. The basic knowledge included in the course is a financial statement, budgeting, advanced accounting, management, taxation, and accounting system. The job roles are managerial and include tax managers, finance managers, forensic accountants, accountancy consultants, and financial analysts. Administrative jobs have the highest salaries, and individuals can earn up to £42,500, which increase with experience and skills.

AAT Bookkeeping qualification

Having a bookkeeping course further enhances your salary, and a bookkeeper earns more than the other professionals with the same qualifications.

What do the average salaries of AAT qualified individuals depend upon their job level?

Accountancy and finance careers are thriving, and you can earn high wages based on your job levels and skills. The salaries based on your job level are depicted in the table below.

Job Role

Qualification

Average salary

Junior administrator

AAT level 1 qualification

£15,000

Junior account assistant

AAT level 1 qualification

£19,000

Account Payable clerk

AAT Level 2 qualification

£15,678 to £25, 052

Assistant accountant

AAT Level 2 qualification

£16,649 – £29,349

Finance Assistant

AAT Level 2 qualification

£14,750 – £23,316

Payroll administrator

AAT Level 2 qualification

£23,000

Assistant Accountant

AAT Level 3 qualification

£25,000

Bookkeeper

AAT Level 3 qualification

£25,000

Financial Accountant

AAT Level 4 qualification

£42,500

Accounts Manager

AAT Level 4 qualification

£32,500

Commercial Analyst

AAT Level 4 qualification

£37,500

The promotion to a higher level also increases your salary, so when an AAT is qualified, you can earn £28,000 being a team leader. Pay rises to £31,000 for junior managers having AAT Level 4 qualifications. The middle manager earns £36,000, and further promotion takes your salary to £46,000.

What do the average salaries of AAT qualified individuals depend upon their AAT Membership status?

AAT membership status is divided into two types as Professional Membership and Licensed Membership. Professional membership allows you to stand out to employers, expand your network, increase your earning potential, and begin your practice. Licensed membership facilitates you to become your boss, providing bookkeeping and accounting services regulated and supported by AAT.

The average salary for AAT qualified students doing various jobs is around £22,000. However, having an AAT membership increases your earning up to £30,000 for a full-time member with a level 4 professional diploma.

The ATT level 4 Professional Diploma earns you the title of MAAT, and after five years, you can pay more fees to become FMAAT, AAT Fellow Member.

A member who has completed five years membership and is an AAT fellow member receives an average of £40,000. The pay further increases to £52,000 for AAT Licensed membership as they are self-employed running their own business.

MAAT and FMAAT are more senior and qualified accountants having more lavish salaries. The bonuses on each membership level also increase where affiliate members receive £1,282 more, and fellow members earn a £2,212 bonus with their pay.

Conclusion

The recent upsurge in accountants’ demands has further increased the pay of the AAT qualified individuals up to 9%. Finance and accountancy employees are earning high salaries with their polished skills and experiences. High salaries are another reason for you to choose the AAT qualification and become a professional accountant.

FAQs

Is AAT qualification a good career option?

With the increasing demand for accountants to deal with the post-covid-19 crisis, AAT qualification has gained popularity. Thus, it is a reliable career option for you to choose.

Do AAT qualified individuals have more salaries than other accountants?

Having an AAT qualification is a bonus for you and helps in exam exemption for ACCA, CIMA, and CA. However, it does not necessarily impact the pay.

Are AAT qualified professional accountants?

Acquiring a level 4 professional diploma earns you the title of MAAT, a globally recognised designation for accountants.

Is there any difference in salaries of individuals with AAT membership and those without?

Yes, the individuals having membership earns more than the other AAT qualified professionals and also get bonuses.