Equal access into accountancy still a barrier to young people, BDO finds

In the UK, 49% of young people working in or interested in a career in business, finance and accountancy feel there is “unequal” access into the accountancy profession, according to BDO’s Young Minds survey.

The need for personal contacts and a preference for candidates from a more privileged background were cited as the main reasons behind this perceived inequality of access to the profession.

To provide an indicative snapshot of the career aspirations and expectations of young people, the survey canvassed the views of those between the ages of 18-25 years old.

It also found that almost three quarters (74%) of those either studying, working in or thinking about a career in business, finance and accounting, do not think young people receive enough information about apprenticeships as an alternative route to university.

Of the 74%, 58% said more work needs to be done to connect young people with local businesses and apprenticeship providers, while 16% stated that this lack of information meant people who already know people in certain industries and businesses have an advantage.

Further insights from BDO’s Young Minds survey revealed that 44% of those interested in accounting believe that attending university will provide more career choices, however 43% would also consider undertaking an apprenticeship after their degree.

The reasons young people choose an apprenticeship were varied, with over a third (35%) highlighting being ready to start work as the main reason.

A preference to learn on the job was cited by 31%, while 23% said gaining life experience, not just a qualification, was important.

Anna Draper, head of People, Culture and Purpose at BDO, said: “Apprenticeships play a vital role in building an inclusive and highly skilled workforce of tomorrow in our profession and beyond, yet many young people still feel they are being denied access.  This consistent lack of information and awareness is creating a bottleneck of new talent.

“Greater connectivity between government, businesses, and the education system is needed to allow young people to make more informed decisions and to match them with employers that are offering training and apprenticeship opportunities. We need to work together to ensure everyone has access to the information, training and high-quality employment they need to succeed.”

Max Whitlock, an audit trainee in BDO’s London office, joined BDO’s apprenticeship programme in 2023 and is due to qualify in 2027.

He said: “There needs to be more exposure to apprenticeship information and job opportunities for students. There’s still a perception that if students want to pursue a professional career they must go to university. I now know that’s not true and have seen an increasing trend across industries that show school leavers progressing in their careers.

“I chose an apprenticeship because I knew I wanted to go into accounting and I was ready to start work. It ticked all the boxes for where I wanted to go with my career and enabled me to gain a qualification while receiving a salary.”