The world’s youngest accountant began as an AAT apprentice

At 16, Grace Bayton looked set to follow a traditional higher education path of A Levels and university. Having just achieved a great set of results in her GCSEs, she was on track to notch up A Levels in Maths and Music at her local college.

Now aged 21, she is the world’s youngest chartered management accountant, registered with industry body the Chartered Institute of Management Accountants, and qualified at AAT Advanced Diploma in Accounting (Level 3).

“When I was at school, I did well in my GCSEs, and I had planned to study Maths and Music for A Level,” she explains. “I had some scholarship offers from private colleges, but I decided to go to my local college with my friends. I thought I would complete my A Levels and do a Maths degree at University, possibly at Oxford or Cambridge. Deep down, though, I had a real interest in finance and dreamed of owning my own business one day.” After a few months at college, Grace felt this route was not for her.

Deciding against the university route

“I felt a lot of pressure and I began to question whether I really wanted to go to university,” she said.

Doing her research for alternative options, she discovered that accountancy seemed like a really good career path – there were plenty of jobs, there was a focus on business and finance, and there was the opportunity to apply for an apprenticeship funded by the Welsh government.

“The AAT route really appealed to me because it meant I would be working towards a qualification, and I would be working and getting experience on the job. Also, I would not have the burden of student debt. I was also at the age when I wanted to learn to drive and to have some financial independence.”

“I was really happy about the decision, but my parents were sceptical about me leaving college and not going to university. Making the transition from school hours to working a 40-hour week was tough. I had to study in my spare time as well as work,” she explains.

“I had a day off a week to go to study my AAT Level 2, and after about nine months, I had passed all my Level 2 exams. It was hard work, but it was worth it because it gave me a real grounding in understanding balance sheets and the fundamentals of finance.”

Her first role was as a finance assistant at IG Lintels in Cwmbran, where she gained a lot of experience working and studying in the evenings and at weekends.

“The only downside was that I was on an apprenticeship wage, so once I had my AAT Level 2 qualification, I contacted some recruiters to see what jobs might be available, and I landed a job with BAE Systems at Glascoed in Usk.” Her next role was as an assistant management account at BAE Systems, which she joined in December 2019. She was able to continue with her apprenticeship and began studying for AAT Level 3, which she passed.

Studying through the pandemic

Then COVID hit, and Grace used that time to begin studying for her CIMA qualification, which usually takes around four years. Grace studied hard and took an exam module every month. This focus meant that she completed her CIMA studies within two years and became the youngest person in the world to qualify as a Chartered Accountant with CIMA. Her salary now reflects her work experience and qualifications.

This enabled Grace, who’s from Abertillery, Blaenau Gwent, to buy her first home at 18 and to move again into a bigger property a few years later.

“In my first year as an apprentice, I made the decision to save half of my salary, and from the money I set aside I put together a deposit for my first house. Since then, I have sold that house and moved into a three-bedroom house with a garage in Newbridge, Caerphilly.

“AAT was the best thing I could have done because it teaches you the basics, it consolidates the basics, and it gives you such a good grounding,” she says.

“That focus on understanding the fundamentals has definitely made me a better accountant. When I rise in seniority and look to employ different people, I will be looking out for apprentices who are AAT qualified because I am really passionate about it the value of AAT qualifications. “For a lot of people, university is the right choice, but for me, becoming qualified as an accountant has given me a great career and financial security.”

She now works from home, visiting the office monthly in Bristol. “I enjoy the hybrid working model- I am very productive when I am working from home, but it is also great to go into the office and have a chat with my colleagues.”

She now works for the Institute of Physics Publishing, an organisation which produces scientific journals and runs partnerships with different scientific bodies around the world. Her role involves managing the finances of the publishing side of the business, which has a £20 million annual turnover and analysing the performance of the different journals and partnerships.

“I talk to a lot of senior people, providing budget support, analysis of spend and end-of-month reports,” she said.

The value of taking the apprenticeship route

She is passionate about the value of apprenticeships and the opportunities they provide.

“Apprenticeships give people a chance. For the company, the advantage of an apprentice is that they have someone on board who is eager to learn and study, and they can grow and develop in the role.

“I’m a chartered accountant now, and that is recognised as a postgraduate qualification in the UK, so I am considering studying for a Masters or MBA to deepen my knowledge. In the future, I would like to run my own business, maybe have my own accountancy practice.”

Grace’s tips for apprentices

• Give it a go. You will have experience and a qualification even if you eventually decide the career is not for you
• Be prepared to work hard – you will definitely reap the rewards
• Enjoy the work experience and the opportunity to make new friends and contacts
• Don’t just do something because that’s what your friends are doing or that’s what your family think you should do
• Work hard and make the most of your opportunities

Further reading:

• Apprenticeships: your top questions answered
• Top tips for succeeding as an apprentice
• 7 misconceptions about accountancy apprenticeships

Marianne Curphey is an award-winning financial writer and columnist, and author of the book How Money Works. She worked as City Editor at The Guardian, deputy editor of Guardian online, and has worked for The Times, Telegraph and BBC.