AAT qualifications widen access, boost earnings and power the UK economy

AAT has today published the third and final report of its ‘Filling the gap’ series, which explores the UK’s finance and accounting skills shortage. 

• Widening access to everyone: 83% of members and students from lower socioeconomic backgrounds say AAT helped open career doors 
• The earning potential vocational pathways offer: 19-24-year-olds who study with AAT earn, on average, 11% more than their peers 
• People whose highest qualification is GCSE but studied through AAT earn 21% more than the national median for that level 
• AAT students and members contribute £3.8bn a year to the UK economy, highlighting the scale of impact generated by the AAT community 

The first report identified widening skills gaps across the UK finance profession. The second examined where talent is being lost from the pipeline and the barriers preventing progression. This latest report – Accounting for Growth – produced by Public First and commissioned by AAT – focuses on both AAT’s social and economic impact, as well as looking at the opportunities for growth for the wider accounting and bookkeeping sectors. 

Vocational and professional pathways widen access to careers and boost economic growth in the process 

AAT’s purpose is to open up access to careers in finance to everyone, a mission that has sat at the heart of the organisation since its establishment in 1980. This new report highlights AAT’s impact against that goal, revealing that more than four in five (83%) AAT members and students from lower socioeconomic backgrounds say that AAT helped open doors in their career. 

That impact is particularly significant given the barriers many people still face. Previous AAT research shows that nearly half (49%) of the workforce come from lower socioeconomic backgrounds, yet they progress 25% more slowly, even when performance and experience are similar¹. 

In addition to facilitating access to career opportunities, Public First’s modelling also shows that AAT qualifications can boost individual earning potential: 

• 19-24-year-olds in the AAT community earn, on average, 11% more than their peers nationally. 
• Those whose formal education ended at GCSE-level but progressed through AAT earn 21% more than the national median for people whose highest formal qualification is GCSEs. 

As AAT Member Laura White, 36, from Bolton reflects: 

“I left school after my GCSEs and grew up on a council estate where higher education just wasn’t something people around me talked about. AAT gave me a way into accountancy and opened up opportunities I didn’t even know existed at the time. 

“I now work as a finance manager and I’m on a pathway towards CFO. I’ve also built my own business supporting around 100 clients. Building my career and running a successful business hasn’t been without its challenges, but AAT has provided me with the roadmap to pursue my ambitions.” 

This individual impact also ladders up into a contribution to economic growth with Public First’s modelling showing that AAT students and members contribute a combined £3.8bn annually to the UK economy through salaries and client income. 

At a time when the UK is facing persistent skills shortages and pressure to drive productivity and growth, the findings reinforce the role vocational and professional pathways play in strengthening the economy and developing future talent. 

Sarah Beale, AAT CEO, 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.” 

A sector worth £42bn – if the UK gets it right 

Public First also models that £1.2bn in additional UK Gross Value Add could be created through upskilling people working in accounting and bookkeeping in sought-after power skills such as digital literacy and leadership. 

In addition, it estimates that the UK’s accounting and bookkeeping sector, currently worth £34bn, could grow by £8bn, to an estimated £42bn through effectively harnessing productivity gains from AI. 

But unlocking that growth depends on building a stronger, more inclusive pipeline of talent, with government, employers and educators working together to ensure skills provision better matches future demand.  

Public First’s report for AAT sets out a range of policy recommendations as to how that could be achieved, including improving the quality of careers advice and developing a clearer workforce plan for accounting and finance. 

Sarah Beale, AAT CEO, said:

“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. We need an education and skills system built around access and flexibility. Get that right, and the social and economic prize is clear.” 

Andrew Harrop, Director at Public First 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. If those conditions are met, the economic gains will be substantial for both individuals and the wider economy.” 

Read Public First’s report for AAT, Accounting for Growth, alongside AAT’s summary of key findings here.