How apprenticeships are reshaping talent in accountancy

Apprenticeships have long been seen as a practical alternative to university, but in the accounting industry, they are becoming an essential pipeline for talent. With the government’s recent announcement of 10,000 additional apprenticeship opportunities and efforts to remove bureaucratic barriers, the conversation about vocational training is gaining momentum. Industry leaders like the AAT, to firms like BDO and Grant Thornton, are pushing for greater accessibility, flexibility, and awareness in apprenticeship programmes to attract a wider pool of candidates and address the sector’s skills shortage. At the same time, there has been a surprisingly large number of young people who have expressed an interest in becoming accountants. Shazia Ejaz, director of campaigns at the Recruitment and Employment Confederation, sees apprenticeships as a necessary step toward rebuilding the “ladder of opportunity” for young people. She highlighted how rigid English and maths requirements often deter both employers and apprentices, posing a particular disadvantage to those from less privileged backgrounds. The push for shorter, modular apprenticeships aligns with the evolving needs of businesses, ensuring that the programs remain relevant and accessible. Sarah Beale, CEO of AAT, echoed this sentiment, advocating for more practical and applicable approaches to numerical and financial literacy. Instead of eliminating maths requirements altogether, she suggested a shift in teaching methods to better align with real-world applications. For AAT, accessibility is central to its mission. As one of the UK’s leading finance skills providers, it supports more than 65,000 learners – including thousands of apprentices – on their journey toward becoming qualified accounting technicians. For individuals like Max Whiteley, a chartered accountant and domain expert at Dext, apprenticeships offer invaluable hands-on experience. He credits his own success in the industry to this route, which not only provided a strong foundation in accounting but also allowed him to develop advisory and strategic skills essential in today’s tech-driven financial landscape. The rise of AI and automation has reshaped the role of accountants, making the ability to analyse financial data and provide business insights more crucial than ever. Apprenticeships, he argued, are instrumental in preparing future accountants for these evolving responsibilities. However, Whiteley also pointed out that traditional exam-based assessments can be a hurdle for apprentices, favouring those who take the university route. A more practical, situational-based evaluation system would better reflect the realities of modern-day accounting and foster greater inclusivity. Interest in apprenticeships is on the rise. A recent survey by Opinion Matters, commissioned by AAT, found that six in 10 UK job seekers have considered an apprenticeship to upskill or reskill. The finance industry, in particular, is attracting significant attention, with more than half of respondents (52%) exploring apprenticeships as a viable entry point. Among Gen-Z job seekers, this number climbs to 54%, reflecting a generational shift towards valuing alternative career pathways over traditional university degrees. Despite this enthusiasm, there are still barriers to entry. Many potential apprentices cite the need for clearer career pathways, flexible scheduling, and stronger employer support. Beale emphasised that training must be adaptable to people’s lives, whether that means accommodating caregiving responsibilities or allowing for more fluid exam schedules. To address these challenges, AAT has launched the AAT Careers Hub, the UK’s first dedicated finance apprenticeship and jobs board earlier this year. By providing free listings for finance apprenticeship opportunities and offering career guidance resources, AAT aims to bridge the gap between aspiring apprentices and employers struggling to fill finance roles. Access to the accountancy profession remains a significant concern. A survey conducted by accounting and advisory firm BDO revealed that nearly half of young people (49%) interested in finance believe the industry is not equally accessible. Many feel that personal connections and socio-economic privilege play a role in determining who gets opportunities. This lack of inclusivity is compounded by the fact that 74% of respondents believe young people do not receive enough information about apprenticeships as an alternative to university. BDO’s head of people, Anna Draper, stressed the need for stronger connections between businesses, government and the education system to ensure “young people have the information and support needed to make informed career decisions”. While many firms have embraced apprenticeships, others are still hesitant. Research from Grant Thornton UK LLP highlighted that a quarter of medium-sized businesses do not offer school-leaver apprenticeships. Common reasons include the administrative workload, unclear benefits, and complex apprenticeship regulations. Yet, companies that have implemented apprenticeship programmes reported significant advantages, including access to a diverse talent pool and employees who are well-trained to meet specific business needs. Encouragingly, 76% of businesses currently offering school-leaver apprenticeships plan to increase their recruitment in the next five years, signaling a shift toward broader acceptance of this career route. Parents are also playing a role in changing perceptions. Grant Thornton’s research found that parents are now more likely to encourage their children to apply for apprenticeships (44%) than for university (40%). The appeal is clear: apprenticeships offer practical work experience, a certified qualification, and the opportunity to earn a salary – all without the burden of student debt. Richard Waite, people and culture director at Grant Thornton, said that apprenticeships “are not just an alternative to university but a strategic way for businesses to cultivate future leaders”. He pointed out that many of the firm’s senior professionals started as apprentices, reinforcing the long-term value of this career path. Apprenticeships are gaining popularity in the current hiring environment, with employers championing this career path to ensure widespread accessibility. The increasing demand for financial professionals has positioned apprenticeships as an effective solution to bridge the skills gap and promote inclusivity within the profession.