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Qualifications from the Association of Accounting Technicians (AAT) widen access to finance careers and boost individual earnings, according to a newly published report.
The ‘Accounting for Growth’ report, by research consultancy Public First, found that 83% of AAT members and students from lower socioeconomic backgrounds said their qualification helped open doors in their career.
Its data shows that while nearly half of the finance workforce comes from lower socioeconomic backgrounds, these individuals progress 25% more slowly than peers with similar performance and experience. However, the study found that qualifications significantly boost individual earnings.
According to the report, people aged 19 – 24 earn an average of 11% more than their national peers. Those whose formal education ended at GCSE level but progressed through vocational training earn 21% more than the national median for that education level.
AAT said this individual impact translates into broader economic growth, with students and members contributing a combined £3.8bn annually to the UK economy through salaries and client income.
The report also models that £1.2bn in additional UK gross value add could be created by upskilling workers in digital literacy and leadership. Furthermore, the £34bn accounting and bookkeeping sector could grow by £8bn to reach £42bn if it successfully harnesses productivity gains from artificial intelligence.
AAT said that unlocking this growth depends on building a more inclusive talent pipeline through coordinated action between government, employers, and educators. Recommended policy changes include clearer workforce planning and improved careers advice.
AAT CEO Sarah Beale said: “Britain doesn’t have a talent problem – it has an opportunity problem. Too many capable people are being held back and can’t find a clear route into the jobs market and meaningful careers.
“Success is shaped by access and opportunity, when that door opens, people don’t just walk through it – they run through it, building careers, businesses and futures that strengthen the whole economy.”
She added: “This report clearly shows that AAT’s social and economic impact go hand in hand. But the relationship between opening up access, upskilling and driving growth needs to take a more central role in shaping skills policy.”
Andrew Harrop, director at Public First, who published the report, said: “Public First’s analysis for AAT highlights a significant opportunity to grow the UK accounting and bookkeeping sector through stronger skills and the effective use of new technology.
“Realising that potential will require coordinated action across government, employers and educators – including clearer workforce planning, stronger careers guidance, and ensuring access to training throughout working life.”
