How do accounting degree apprenticeships work?

Part academic study, part full-time employment, here’s how accounting degree apprenticeships set up students and employers alike for success.

Accounting degree apprenticeships are an exciting new style of programme. Blending academic study with hands-on experience working with an employer, the programme helps apprentices graduate with both a university degree and professional accounting qualifications.

A key feature is the ‘earn-while-you-learn’ structure. Because apprentices are employed during their course, they don’t pay tuition fees and earn a salary instead. As a result, many graduate from university, debt-free.

In 2025 Skills England launched the Accounting Finance Manager Degree Apprenticeship, with University of Exeter launching the first cohort on this new programme, in partnership with AAT.

Why accounting degree apprenticeships are taking off

The University of Exeter degree apprenticeship was designed to address two challenges at once: widening access to finance careers and tackling the shortage of job-ready accounting graduates.

“AAT’s Accounting Finance Manager Degree Apprenticeship is a strong example of the different solutions we can find to address the skills shortage across the UK, and open up access to careers in finance.” – Claire Bennison, Executive Director, Customer, Partnerships and Innovation at AAT

According to Clare Dye, Product Manager (Qualifications) at AAT, the degree is a “game-changer model that demonstrates how different solutions can address the UK’s skills shortage”.

The majority (80%) of employers believe new graduates lack workplace-ready skills, according to the Chartered Management Institute (CMI). Degree apprenticeships could help close this gap by giving students real-world work experience.

The University of Exeter has a strong pedigree here. The Russell Group university is the UK’s largest provider of degree apprenticeships, supporting over 4,200 apprenticeships in industries such as law, healthcare, aviation and even space engineering.

It also boasts impressive pass rates. The number of apprentices completing their training and assessment on time at Exeter is 80%, far higher than the national average of 60%.

The curriculum and qualifications

Over 550 employers helped shape the curriculum for the University of Exeter’s accounting degree apprenticeship. During the three-year course, students pick up the real world ready skills to meet current industry needs.

In Year 1, apprentices complete the AAT Level 4 Diploma in Professional Accounting, building a strong grounding in financial and management accounting, alongside the practical skills needed to contribute effectively in the workplace from the outset.

In Year 2, learning broadens to cover areas such as financial reporting, taxation and financial management, enabling apprentices to move beyond technical tasks and begin analysing financial information to support business decision-making.

In Year 3, the focus shifts to more strategic topics including audit and assurance, governance, ethics and leadership, preparing apprentices to operate at a finance manager level and to influence organisational performance.

Throughout the course, apprentices will be spending roughly 80% of their time (four days a week) doing practical work, which includes on-the-job training and experience with an employer. The remaining 20% is spent studying with the university, which delivers remote learning, exam preparation and pastoral support – similar to the function of training providers in standard apprenticeships.

After completing the course, apprentices graduate with a BSc (Hons) in Applied Accounting and a Level 6 Degree Apprenticeship award. Because the curriculum covers the same syllabus, apprentices are granted exemption from ACCA and CIMA exams, meaning they can achieve chartered accountant status quicker than somebody starting these qualifications after graduating.

What apprentices need to know

University is an expensive business. However, degree apprenticeships give students a rare chance to earn a wage while learning; all without paying tuition fees. At a time when average student debt in England is £53,000 (according to the Student Loans Company), apprentices begin careers at a financial advantage.

They’ll also have a headstart over other graduates with job prospects, explains Dye. “By the end of the three years, apprentices will have a degree, professional qualification and three years of work experience, positioning them far ahead of traditional graduates.”

“Considering the position they will be in in three years’ time – with a degree, AAT level 4, exemptions for ACCA, three years of work experience and full-time earnings – we’re hopeful the Accounting Finance Manager Degree Apprenticeship will turbocharge our apprentice’s career.” – Frankie Shearn, L&D Business Partner, Carpmaels & Ransford

What employers need to know

“Through AATs integrated Level 4, apprentices develop work-ready skills, and through the Level 6 apprenticeship extends this through sustained industry experience, preparing individuals to take on more complex, higher-level roles from day one,” says Dye. This is one of the biggest selling points for employers.

The model is particularly valuable for smaller employers, who often lack the time and resources to train new entrants extensively. As Dye says, “this degree provides a gateway for these smaller businesses to capture their voice in professional training.”

The cost of the University of Exeter’s Accounting Finance Manager Degree Apprenticeship is £27,000 per apprentice. However, the apprenticeship levy can significantly reduce this figure.

Employers who pay the levy can draw directly from their contributions, while non-levy-paying employers may have 95% of the cost funded by the government. Smaller firms with fewer than 50 employees may have 100% of this fee covered.

“This approach helps us build a pipeline of professionals who are not only qualified but also deeply aligned with our business needs and culture”. – Kristian Leese, UK financial controller, Vanguard Asset Management Ltd

What this means for the profession

Accounting apprenticeship degrees are expected to play an important role in tackling accountancy’s long-standing skills shortage: as AAT’s Filling the Gap report recently revealed, a third of businesses (34%) are struggling to recruit for finance/accounting roles.

“This specifically helps improve skills in regulatory interpretation, financial systems integration, and cross-functional communication, which employers have identified as current gaps in the sector,” says Dye.

The University of Exeter programme also promotes diversity and social mobility too, with Dye noting the degree “provides inclusive entry routes and is supported by AAT initiatives such as virtual work experience.”

Christian Koch is an award-winning journalist/editor who has written for the Evening Standard, Sunday Times, Guardian, Telegraph, The Independent, Q, The Face and Metro. He's also written about business for Accounting Technician, 20 and Director, where he is contributing editor.