With A-Level results and the subsequent waft of desperation which lingers around the clearing period looming, The Association of Accounting Technicians (AAT), the leading qualification and membership body for accounting staff, has today released research* showing that vocationally trained AAT students, who began their course after finishing school at the age of 18, will be approximately 55,000 ahead of their graduate counterparts by the time they have completed their degree (~21 years of age).
The AAT conducted the research by analyzing data from a variety of sources such as the Hays Salary Survey, their own data and DfES reports. The main implications behind the 55,000 figure included the fact that AAT students earn money from working whilst they train and have lower tuition fees. Says Jane Scott Paul, Chief Executive of the AAT: ìWhat a student earns is largely down to the individual, and rising stars, will be rising stars, whether they go to college or university. What we hope to show through this research is the benefits of a college education that are sometimes overlooked. 55,000 is a significant sum, and with the vast majority of our students progressing on to become Chartered at the same pace or even quicker than graduates; this money could be seen for some, as simply an extra.î
Says Helen Williams, Accountant at Abcam, the specialist supplier of antibodies and reagents, and former AAT student: ìFor me, the AAT Accounting Qualification was a quicker route into a career in accountancy than going to university and I got to earn money whilst training which made me feel far more independent. At the age of 21 for instance I was a home owner, which is something that would not have been possible had I gone to university!î
Says Peter Brown, Director of Gabbitas Educational Consultants and author of research into the comparative costs of university, published in the Observer this April: ìOur report showed that the spiralling costs of university education in England and Wales mean that it is only when graduates with a three-year degree turn 33 that their earnings overtake those of someone who began work at 18. That research was compiled across all industries, and by looking at this research, I would not be surprised if in accountancy, and indeed other key industries, this age was even higher, if not unreachable. I believe an increasing number of A-level students in the future, who might previously have opted for the classic three-year degree course, will now in fact go to work at 18.î Says Bob Hicklin, Regional Director of Hays: ìI am not surprised by the results of this research as the AAT course offers students the chance to earn money whilst they train and avoid the inevitable student debt that comes with going to university. Although I would never want to put down the benefits of university, I hope that this makes the water a little clearer for those seeking alternatives.ì
Students interested in finding out more about the AAT Accounting Qualification should visit www.aat.org.uk/career or call 020 7415 7666 for more information.
You donít have to be an accountant to work this one out
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