Accountancy Apprenticeships Double in Five Years
Accountancy apprenticeships double in five years
New research from the Financial and Legal Skills Partnership (FSP) shows that accountancy firms have doubled the number of apprentices taken on over the last five years.
Data from the trade body set up to improve skills in the finance and legal sectors shows that by the end of 2012, the number of apprentices was 7,000, compared to 3,710 in 2007.
FSP chief executive Liz Field said that accountancy firms are increasingly looking to recruit and train school-leavers instead of graduates as they ¬believe apprentices will demonstrate increasing loyalty and will stay in their jobs for longer. She added that employers will choose school-leavers over graduates because they have more “realistic” salary ¬expectations.
Apprenticeships are training programmes, where you train and work in an organisation while studying for a relevant qualification. “Apprenticeships are increasingly popular as they allow young people to learn on the job, develop knowledge and skills and earn money – all at the same time,” explains Big Sky Additions’ director, Justin Murray. “Some accountancy apprenticeship schemes also run hand in hand with professional training such as the AAT accounting qualification,” he added.
Accountancy apprenticeship schemes are offered by a wide range of small practices and large corporate firms, allowing students to earn a salary while studying for professional qualifications over a five-year period.