AS thousands of students across Northern Ireland contemplate their futures on the back of their exam results, a leading local accountancy firm has issued a reassuring message that the traditional university route is NOT the only pathway to a successful and rewarding career.
Lisburn-based Exchange Accountants is one of Northern Ireland’s leading digital accountancy firms and has been operating apprenticeship schemes now for three years, with great results, according to director Conor Walls.
“In today’s rapidly evolving job market, aspiring accountants are finding that Apprenticeships in accountancy are emerging as a compelling alternative to University, providing hands-on experience, professional qualifications, and a direct route into the workforce without the burden of student debt,” said Conor.
Recently announced figures from the Student Loans Company (SLC), have revealed that student loan debt in Northern Ireland topped £5 BILLION for the first time in 2023/24 – an ‘additional tax’ that Conor Walls believes graduates can well do without when they start full-time employment.
“The level of student debt is now at a shockingly high level in Northern Ireland with the average student setting out to repay their loan in 2024 owing around £27,700,” explained Conor.
“This burden of debt is effectively an additional tax that our university students have to pay for much of their working lives. So our message to all aspiring accountants is that university is not the ‘be all and end all’ and there are really good apprenticeship schemes out there which enable students to work while studying and earn while they learn.”
Looking at the potential benefits of an apprenticeship, its not hard to see why they are emerging as an attractive alternative for learners and employers alike. These advantages include:
Real-World Experience from Day One
An apprenticeship in accountancy offers individuals invaluable experience in the real-world environment from the start. Apprentices work alongside seasoned professionals, gaining practical skills and insights that are often not covered in academic settings. This on-the-job training ensures that apprentices are not only learning the theoretical aspects of accountancy but also applying them in real-life scenarios, making them job-ready upon completion.
Earn While You Learn
One of the most significant benefits of an apprenticeship is the ability to earn a salary while you learn. This financial advantage is a game-changer, especially in an era where student debt is a growing concern. Apprenticeships provide a relatively debt-free route to gaining professional qualifications, allowing individuals to focus on their career development without the financial stress associated with university tuition fees and living expenses.
Professional Qualifications
Apprenticeships in accountancy are structured to provide recognized professional qualifications. These programs are designed in collaboration with industry bodies and employers, ensuring that the curriculum is relevant and up-to-date with the latest industry standards and practices. Apprentices often have the opportunity to obtain qualifications such as the AAT (Association of Accounting Technicians) and ATT (Association of Tax Technicians) or progress towards CAI (Chartered Accountants Ireland), ACCA (Association of Chartered Certified Accountants) or CTA (Chartered Tax Advisor) certifications.
Tailored Learning and Mentorship
Apprentices benefit from personalized learning and mentorship from experienced accountants who provide guidance, support, and industry insights. This mentorship is invaluable in helping apprentices navigate their career paths, build professional networks, and develop the soft skills essential for career advancement.
“While university remains a viable option for many, it is important to recognize that it is not the only route to a successful career in accountancy,” concludes Exchange’s Conor Walls.
“Here at Exchange, we welcome both university graduates and apprentices, and find that the latter works really well for all parties. We have now had a number of staff complete their professional exams through apprenticeships and have absolutely no hesitation in advocating this as a viable, and in many ways advantageous, route for anyone considering a career in accountancy or tax .”
Established in 2011, Exchange Accountants provides premier accountancy services and tax advice to a wide variety of locally based SMEs and individuals.
Exchange was the first accountancy practice in Northern Ireland to be recognised as a Xero Gold Partner – and in 2021, the company achieved Platinum Partner status with the market-leading cloud accountancy software provider.
For more information on Exchange’s digital accountancy and tax support services, visit www.exchangeaccountants.com, email [email protected] or call 028 9263 4135.
