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Pursuing an Accounting and Finance degree is a super popular choice in the UK, but let’s get real—how do you know if it’s actually worth it?
For some, it’s all about landing those high-paying jobs and enjoying the perks of working in these industries. For others, there’s a genuine fascination with the numbers and dynamics of the financial world. And honestly, who wouldn’t find the fast-paced financial sector intriguing?
But here’s a quick tip before you dive in: there’s nothing wrong with being motivated by high salaries, international travel, bonuses, and all the other cool benefits that come with a career in finance.
At the same time, it helps to have at least a budding interest in the field—it makes the journey more enjoyable and rewarding.
Now, let’s dig into the big question: “Is an Accounting and Finance degree worth it in the UK?” Spoiler: the answer is a big fat yes—but let’s break it down properly.
Accounting vs. Finance: What’s the Difference?
While these two subjects are often grouped together, they’re like two sides of the same coin—connected but very different in practice.
Accounting
Accounting is all about keeping track of financial transactions. Think summarizing, analysing, and reporting data for tax agencies, regulators, and other stakeholders. If you love detail-oriented tasks and creating clarity out of chaos, this might be your jam.
Finance
Finance, on the other hand, deals with managing money and investments. It’s more strategic and analytical. You’ll be exploring topics like raising capital, creating wealth, and growing businesses. In short, finance looks at the bigger picture while accounting focuses on the finer details.
A quick way to remember: Accountants produce the financial data; finance professionals analyse and use it to make decisions.
Why Are They Often Studied Together?
Both subjects are essential for understanding how businesses operate and thrive. Studying them together gives you a solid foundation to choose from a variety of careers, depending on where your interests lie.
Why Accounting is a Great Choice
Accounting is essential for every business, whether it’s a tiny start-up or a multinational corporation. Why?
Because businesses need clear and accurate financial information to survive and grow. From allocating budgets to making smart investments, accounting is the backbone of good decision-making.
What’s exciting is that many companies outsource their accounting work, meaning even small accounting firms can work with some pretty big names.
And if you’ve ever heard of the “Big Four” (Deloitte, PwC, EY, and KPMG), you know just how prestigious a career in accounting can be.
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What can I do with an Accounting Degree? Jobs & Salaries
- Chartered Accountant: Average salary of £134,000 per year, plus bonuses of around £17,000.
- Auditor: Starting salaries around £35,000-£40,000, rising with experience.
- Tax Advisor: Average salary of £60,000, with senior positions earning much more.
- Forensic Accountant: Salaries typically range from £50,000 to £80,000.
- Management Accountant: Average salary of £55,000.
Major Employers in Accounting in the UK
- The Big Four: Deloitte, PwC, EY, and KPMG.
- Public sector organizations like HMRC and NHS.
- Multinational corporations and SMEs with in-house accounting departments.
Why Finance is a Fantastic Option
Finance, on the other hand, opens up a whole world of exciting possibilities. Whether you want to work in investment banking, financial trading, corporate finance, or even fintech startups, the opportunities are endless. Plus, it’s a high-energy industry where no two days are the same.
Finance professionals play a critical role in helping businesses grow, keep shareholders happy, and raise capital efficiently. So, if you’re into problem-solving, big-picture thinking, and chasing opportunities, finance could be your calling.
What can I do with a Finance Degree? Jobs & Salaries
- Investment Banker: Starting salaries of £50,000-£80,000, with potential for six-figure bonuses.
- Financial Analyst: Average salary of £45,000, rising to £70,000+ with experience.
- Portfolio Manager: Average salaries of £80,000+, with senior roles earning well into six figures.
- Trader: Average salary of £60,000, with bonuses often matching or exceeding base pay.
- Risk Manager: Salaries ranging from £50,000 to £100,000 depending on experience.
Major Employers in Finance in the UK
- Investment banks like J.P. Morgan, Goldman Sachs, and Barclays.
- Retail banks including HSBC, Barclays, Lloyds, and Santander.
- Fintech companies and startups like Revolut and Monzo.
- Asset management firms such as BlackRock and Fidelity.
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What Will You Study in an Accounting and Finance Degree?
Accounting Topics
In the accounting part of your degree, you’ll start with the basics like reading and preparing financial statements, learning the principles of accounting, and understanding cash flows.
As you progress, you’ll dive into advanced topics like asset depreciation, debt management, and compliance with regulatory frameworks. It’s a challenging field, but it’s perfect for anyone who loves solving puzzles and analysing data.
Finance Topics
The finance side of things kicks off with understanding financial markets, investment basics, and sources of capital.
Later, you can tailor your studies to your interests, whether that’s corporate finance, portfolio management, or even behavioural finance.
Expect to study exciting topics like stock markets, investment strategies, and financial risk management.
Why the UK is the Place to Be for Accounting & Finance Degrees
The UK is one of the world’s financial powerhouses. London is often ranked as the second most important financial hub globally, right after New York.
With a financial services industry that contributes £208.2 billion to the economy and employs over 1.17 million people (source: UK Parliament, 2024 figures), it’s a no-brainer for finance enthusiasts to consider the UK.
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FAQs
A: Not necessarily! While some universities value work experience, it’s not a dealbreaker. However, gaining internships during your studies can significantly boost your career prospects.
A: Absolutely. The skills you gain are highly transferable, and with qualifications like ACCA or CFA, you can work almost anywhere in the world.
A: It really depends on your interests. If you love structure and detail, accounting might be for you. If you prefer strategy and decision-making, finance could be a better fit.
A: Yes, many universities offer scholarships specifically for accounting and finance students. Additionally, some companies provide sponsorships for students who show promise in the field.
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Conclusion: Is An Accounting and Finance Degree Worth It?
So, is an Accounting and Finance degree worth it in the UK? Absolutely. With solid earning potential, diverse career paths, and the chance to work in one of the most exciting industries, it’s a choice that can set you up for life.
The best part? You don’t have to commit to one path right away. You can explore both fields during your degree and find what truly excites you. Good luck, future financial whiz!
See below all degree reviews on our website:
- Business Management Degree
- Marketing Degree
- Accounting and Finance Degree
- Hospitality Management Degree
- History Degree
- Biomedical Sciences Degree
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