Filling the gap 3: what is the social and economic impact of AAT?

AAT has published the third and final report of its ‘Filling the gap’ series, with this last instalment exploring the social and economic impact of AAT, plus the growth opportunities for the wider accounting sector.

The first report in the series 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.

New findings show how vocational and professional pathways are widening access, boosting earnings and strengthening the UK economy. At its heart, AAT exists to open up access to careers in finance for everyone. For many, that access makes a real difference.

Key findings from Filling the gap 3

More than four in five (83%) AAT students and members from lower socioeconomic backgrounds say their qualification helped open doors in their career. That matters in a system where talent is often held back – nearly half of the workforce comes from these backgrounds, yet they still progress more slowly than their peers.

Young people aged 19-24 who study with AAT earn, on average, 11% more than others their age. And for those whose formal education ended at GCSE level, AAT offers an alternative route. These learners go on to earn 21% more than the national median for people with the same qualification level.

Together, AAT students and members contribute £3.8bn to the UK economy each year through their salaries and businesses. It’s a clear example of how investing in skills and widening participation benefits everyone.

Looking ahead, the opportunity is even greater. With the right focus on skills such as digital capability and leadership, and by embracing new technologies like AI, the accounting and bookkeeping sector could grow significantly.

“AAT has provided me with the roadmap to pursue my ambitions.”

Filling the gap 3 shows the role that vocational and professional pathways play in strengthening the economy and developing future talent.

AAT Member Laura White said that AAT gave her a way into accountancy that opened up opportunities that she didn’t even know existed at the time.

She added: “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.

“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.”

Harry Rogers is AAT Comment’s news writer.