Masters In Accounting In UK: Your Guide To Study Accounting In UK  Image
Study Destination

Masters In Accounting In UK: Your Guide To Study Accounting In UK

Author_Image
Yocket Editorial Team
7 mins read
85 views

Accounting records, studies and dictates the future of any company, thus dramatically impacting the world economy. If you are interested in being one of the big bulls of the market, there’s nothing better than pursuing masters in accounting in UK.

 

UK is known for running the fourth largest banking system in the world. Housing more than 300 banks, 45,000+ accounting firms and 3.1 million companies, accountants in UK have a booming career. In this blog, we will provide you with insights into the top universities in UK for Masters in Accounting, admission process, UK accounting job market and more.

 

Table of Contents:

  1. Why to Study Accounting in UK?
  2. Eligibility Criteria and Admission Requirements for Masters in Accounting in UK
  3. Documents Required for Masters in Accounting in UK
  4. 8 Steps Admission Process For Masters In Accounting In UK
  5. Cost of Studying Masters in Accounting in UK
  6. Top Universities in UK for Masters in Accounting
  7. Job Opportunities in UK after Masters in Accounting
  8. Frequently Asked Questions about Masters in Accounting in UK

  

Why to Study Accounting in UK?

 

Talking about Masters in Accounting in UK, the first thing that comes to mind is, will it even be worth it? The experiences, fun and new friends do seem exciting, but, will your study be worth the effort? Well, let’s find out and zoom in on the perks:

 

  • Top Universities: UK has the best universities in the world that offer programs in Accounting. This means that studying here will ensure that you are learning from the top experts in the field.

 

  • Buzzing Economy: UK has a long history with the world of accounting and finance. With a powerful economy, a number of recessions and many financial revolutions, UK shares a very old relationship with accounting.

 

  • Job Opportunities : UK houses about 300 banks across the country. This makes UK the fourth largest banking system in the world. With so many banks and financial institutions, finding accounting jobs in UK is rewarding and easy.

 

  • Rewarding Salaries: The benefit of working as an accountant in the UK is that you have an attractive salary and can foresee a flourishing future over the years.

 

SUGGESTED: Here are some other best courses to study in UK

 

Therefore pursuing a Masters in Accounting in UK is a great move for your career. However, to study accounting in UK, there are a few eligibility criteria you need to adhere to.

 

Eligibility Criteria and Admission Requirements for Masters in Accounting in UK

 

The requirements for a Masters in accounting and finance in UK depend upon the university you are applying to. However, some of the most essential requirements are:

 

1. Bachelor’s Degree

 

To pursue a Masters in Accounting UK, you must have a recognized Bachelor’s degree in a Business discipline, Mathematics or Accountancy. Preferably above 60% of score or bagging a minimum of 35 points. 

 

2. High CGPA Score

 

 Top universities in UK for Masters in Accounting accept a high CGPA score. For instance, the London School Of Economics accepts a minimum CGPA score of 7.5 or 8/10. Similarly, other universities too require a minimum score of 7 in your graduation.

 

3. English Language Proficiency Requirements

 

English proficiency test scores are required for students from non-english speaking countries. The top universities accept the overall IELTS score of 7, TOEFL - 100 and PTE - 69 respectively.

 

SUGGESTED: Find out the difference between IELTS and TOEFL

 

4. SOPs

 

Most universities in UK require students to submit a well-written SOP. SOPs for a Masters in Accounting must state your interest in calculations, economic growth etc.

 

SUGGESTED:  How to write an effective SOP for UK Universities?

 

5. Work Experience and LORs

 

If you have relevant experience in accounting, it definitely is an added advantage. Most universities require 2 LORs from your mentors stating your interest in further studies in accounting. LORs are a sophisticated way to showcase your excellence to your desired university. 

6. Valid Passport and Visa

 A valid passport and visa are a must for all international students to opt for any course in the UK. Do keep in mind to apply for your student visa at least 3 months prior to the expected date of travelling.

 

RECOMMENDED: Here’s how to apply for a UK student Visa

 

Documents Required for Masters in Accounting in UK

 

In order to study Masters in Accounting and Finance in UK you will need to submit a few official documents. The important documents you will need to gather are:

 

  • Transcripts of all educational qualification
  • LOR or Letter of Recommendation
  • SOP or Statement of Purpose
  • Scores of IELTS/TOEFL
  • Passport size photographs
  • Updated CV
  • Passport copy
  • Financial documents (loans taken, income tax details, bank statements)

 

8 Steps Admission Process For Masters In Accounting In UK

 

UK offers 2 intakes every year - the September-October intake and January-February intake. Some universities also extend intakes during the month of April and May as well.

 

Students can apply for Masters in accounting in UK directly through the university’s application portal during any of these intakes. To apply to any university in the UK, follow the steps below:

 

  1. Shortlist the top universities you wish to apply to. Make a note of their eligibility criteria, requirements, last day of submission etc.
  2. Make an account on the university website you wish to apply to.
  3. Choose the program you want to study.
  4. Make sure you fulfil the eligibility criteria as per the pre requite. For example, your minimum IELTS score must be as per the minimum required score to apply.
  5. Apply via the university portal by filling out the online application form.
  6. Submit all the required documents and proofs online.
  7. Pay the application fee and submit the form.
  8. Await the university’s response. On acceptance, apply for a student visa.

 

SUGGESTED: Find out all about Intakes and Deadlines in UK Universities

 

Apart from the eligibility and admission process, the cost is one of the prime factors to consider before choosing to study abroad. Let’s take a look at this below-

 

Cost Of Studying Masters In Accounting In UK

 

Studying Masters in Accounting in the UK includes majorly spending on your tuition fees and cost of living.

 

The cost of studying Masters in Accounting in the UK depends upon the type of course and university you are enrolling in. However, the tuition fees for Masters in Accounting in UK ranges from about £22,000 - £81,000/ year. While most colleges have a mid-range focused on about £25,000 - £38,000 per annum, a few institutions charge an extravagant amount.  

 

Cost of living in UK:

Apart from the cost of studying in UK, the other expenditure that will burn a hole in your pocket is the cost of living in the UK. As expected, the cost of living in UK isn’t cheap. However, you can live a decent life in about £1500 - £1800 per month in the UK.

 

A number of institutes offer accounting courses in the UK with distinguished facilities and course contents. Let’s take a look at the best ones-

 

Top Universities in UK for Masters in Accounting

 

The Universities’ Masters in Accounting UK rankings is a witness to the excellence of the courses offered. To investigate further, let’s look at the top 5 universities for Masters in Accounting in UK:

  1. London School of Economics  & Political Science
  2. Imperial College London
  3. University of Glasgow
  4. University of Manchester
  5. University of Warwick

 

City University of London, Cardiff University and University of Bristol are some of the other good schools of accounting in the UK too. 

 

1. London School of Economics & Political Science

 

LSE is one of the top institutes of the world educating young minds about accounting, money, finance and politics. This is the best university in UK for students interested in an MBA, Accounting, Business studies etc.

QS Ranking 2022

49

QS Accounting & Finance Ranking 2021

4

Average Annual fees

£27,000-£32,000

Program Offered

MSc Accounting, Organisations and Institutions

 

2. Imperial College London

 

Apart from being well regarded for STEM specializations, Imperial College London has also earned laurels for its Finance and Accounting programs. Thus, making it one of the best universities in the UK for international students.

QS Ranking 2022

7

QS Accounting & Finance Ranking 2021

33

Average Annual fees

£39,000

Program Offered

MSc Finance and Accounting

 

3. University of Glasgow

 

The University of Glasgow is one of the UK's oldest and most prestigious seats of learning. Part of the Russel group institutions, the University of Glasgow is well funded. The university provides numerous opportunities for students in Accounting and Finance, thus, providing an effective learning experience.

QS Ranking 2022

73

QS Accounting & Finance Ranking 2021

97

Average Annual fees

£30,250

Program Offered

MAcc International accounting and financial management

 

4. University of Manchester

 

The University Of Manchester encourages young minds and emphasis upon industrial collaborations and innovation. The focus of the programs here is on equipping students with advanced knowledge of accounting theory and practice. Studying at the University will help you land the best accounting job in the country.

QS Ranking 2022

27

QS Accounting & Finance Ranking 2021

17

Average Annual fees

£32,000

Programs Offered

MSc Accounting and Finance

MSc Accounting

 

5. University of Warwick

 

The University of Warwick has a great overall reputation. Be it the student culture, tutor-student interaction, faculty, networking opportunities and so on. Accounting graduates from this institution are usually appreciated for their mature industrial knowledge of the subject, thus making it a great place to study.

QS Ranking 2022

62

QS Accounting & Finance Ranking 2021

44

Average Annual fees

£38,000

Programs Offered

MSc Accounting and Finance

MSc Business with Accounting and Finance

 

After pursuing a Masters in Accounting in UK, you will definitely want to look for a job. So, let’s take a look at the job market -

 

Job Opportunities In UK After Masters In Accounting

 

Accounting graduates can work for multiple companies in the accounts and finance department or in various accounting firms. You can also freelance or work independently with a skill like accounting in UK.

 

Some of the top accounting firms in UK you can work for are:

 

  • PwC
  • Deloitte
  • KPMG
  • Grant Thornton
  • BDO
  • RSM
  • Smith & Williamson
  • Moore Stephens
  • Saffery Champness
  • Haines Watts
  • Crowe Clark Whitehill and UHY Hacker Young
  • BDO
  • Grant Thornton

 

Some popular jobs with their average salaries are mentioned below:

Job Titles

Average  Salary/ year

Auditor

£40,000

Financial Accountant

£48,000

Tax Accountant

£44,000

Financial Analyst

£44,000

Management Accountant

£35,000

Accounting Managers

£40,000

Accounting Clerk

£30,000

CFO/Vice President

£95,000

 

SUGGESTED: All about post study work permit in UK for international students

 

Wrapping it up, studying accounting in the UK is a fruitful journey to embark on. The potential job opportunities, the rewarding salaries and the happening student life in UK is what makes it the top destination for studying accounting! Therefore, accounting in the UK for international students gives you a beneficial ROI.

 

Before we wrap up, find answers to the most commonly asked questions about accounting masters in UK:

 

Frequently Asked Questions about Masters in Accounting in UK

 

  1. Which country is best for masters in accounting?

Ans: UK is one of the best countries to pursue masters in accounting. Apart from the UK, countries including the USA, Singapore, Germany and Hong Kong are known for their Accountancy programs.

 

  1. What is the scope of accounting in UK?

Ans: After Mastering Accounts, you can work as an Auditor, Financial Accountant, Tax Accountant, Financial Analyst, Chartered accountancy, Banker, Financial advisor, Trader, Investment analyst and Tax advisor. This means that you have a myriad of options to choose from and a high scope in future. Thus, the scope of accounting is very wide.

 

  1. What is the cost of studying Masters in Accounting in UK?

Ans: The cost of studying Masters in Accounting from UK in any reputed university will cost you about £22,000-£50,000 per year depending on the university you choose.

 

  1. How much can I earn as an accountant in UK?

Ans: Accountants are paid handsomely in the UK. Depending upon your expertise and your experience, you will fairly be remunerated. Masters in accounting salary UK can be up to £40,000.

Related Discussions

Ask, post and discuss!

Have a question? Ask and discuss with your fellow aspirants!

Create Post

Articles you might like
View All

Complete Guide to BBA in UK: Top BBA Colleges in UK, Admission Requirements, Fees & More Image
Yocket Editorial Team
8 mins read
Colleges in Ottawa: 5 Best Colleges in Ottawa for International Students Image
Yocket Editorial Team
3 mins read
Study in US from Bangladesh! Image
Study Destination
eye_icon 1.6k
Yocket Editorial Team
4 mins read

Sign up and stay in the Yocket loop!

Get instant updates on latest articles handpicked for you and your preferences.