Accounting Internships, Placements & Work Experience 2022

Want a career that counts? This is your guide to securing a high-flying accounting job with one of the best student employers.

accountancy internships

Accounting has traditionally been seen as a boring sector, but that’s not really accurate. Just a lazy stereotype - like the perception that cats like milk. Not all cats like milk.

In fact, accounting is exhilarating, lucratively paid and ALWAYS evolving. Accountants have tossed aside their abacuses, and now use emerging technology like Artificial Intelligence and Cloud Computing to solve real business problems.

But it’s a tough field to get into, and you’ll need to bring your A-game when it comes to applying for a job. Arming yourself with some real accounting work experience will have future employers on their feet, demanding an encore…

And this guide is here to help you get there. It’s packed with advice on how to find an accounting internship, placement or insight scheme with one of the finest employers in the land...

Do you need to do an internship to be an accountant?

If you’re wondering whether you need to bother with work experience, you do. For starters, work experience in an accounting firm or company finance department is an entry requirement for many of the qualifications you’ll have to take to become an accountant.

Aside from that, it’s the best way to get a taster for a role before you commit to a full-time position. It’s like moving to Spain to learn Spanish. Compared to downloading the Duolingo app.

There are THREE main types of accounting work experience you can apply for while you’re still at university: industrial placements, internships and insights.

Let’s break them down...

Accounting internships

DURATION: 1-4 months
FOR: 2nd or 3rd years
WHEN TO APPLY: Sep-Mar

If your course doesn’t include a placement year or you don’t want to commit to 12 months in work, you can opt for an internship. In the accounting world, these are usually referred to as summer internships - simply because they take place during the summer holidays.

As well as gaining real professional experience, there’s the potential to earn some decent money on an accounting internship. In fact, the average salary is £20,722 pro rata (based on thousands of reviews left on RateMyPlacement.co.uk by students across the UK).

Find an accounting internship

Accounting internships

Accounting placements

DURATION: 5-13 months
FOR: 2nd & 3rd years
WHEN TO APPLY: Sep-Jan

Accounting industrial placements involve a year-long stay with an accounting firm, typically during your second year of university. As a placement student, you’ll contribute to the business, get involved in key projects and work on accounts - just like a fully-qualified accountant.

At the end of your placement, you will have built a lifelong network of industry contacts AND acquired the very skills future employers will be looking for (e.g. resilience, critical thinking and business acumen), BEFORE you even graduate!

Plus if you dazzle during your time there, it’s likely your employer will offer you a proper graduate accounting job at the end. (Or at least fast-track your application.) So you can sleep easy in your final year, safe in the knowledge that you have a job waiting for you.

GUESS WHAT? The average salary for year-long placements in accounting is a tasty £18,598. (According to student-written reviews on RateMyPlacement.co.uk.)

Search for accountancy placements

Insight schemes in accountancy

DURATION: Less than 1 month
FOR: All students
WHEN TO APPLY: Sep-Mar

Insight schemes are the shortest types of accounting work experience you can get whilst you’re still a student.

Accounting firms and professional services often have different names for their insight schemes - just to spice things up. KPMG calls their work experience vacation schemes - a term usually associated with legal work experience. Other companies call them spring internships, because they take place during the Easter holidays.

But what they all have in common is that they are a BRILLIANT first step towards a career in accounting. And they all involve:

  • Rotations around different areas of the business
  • Workshops on applying for graduate schemes and training contracts
  • Q&As with experienced professionals
  • Information about future accounting internship programmes
  • Insights into company culture

What do accounting interns do?

Whilst the word ‘internship’ might make you think of endless photocopying and sandwich runs, the opposite is true when it comes to accounting internships.

Instead, accounting interns get stuck in. They meet clients, work on ongoing and important cases, and are generally given the opportunity to make a real impact.


“I was given more responsibility than I thought an intern would get! Within my first few weeks the company flew my Senior and I down to visit a client near London. I got to interact directly with the client and complete the work for my senior to review. It was a great experience!” EY Summer Assurance Intern

“I always felt valued and was given a lot of responsibility at an early stage. I got to see a wide variety of the work Grant Thornton does and learnt a great deal.” Audit and Tax Summer Intern at Grant Thornton

Accounting internships in London

If you’re on the hunt for an accounting internship, you’ll find a high concentration of opportunities in the capital. London is the financial epicentre of Europe, and Brexit-aside, will continue to be home to the majority of employers offering accounting work experience in the UK.

All the big banks, professional services companies and government institutions have a big presence in the capital. On the flipside, that means competition for accounting internships and placements is intense, despite the number of jobs available.

So it’s best to start applying early - aim to get your applications for accounting internships in London sent off between September and November. In the meantime, our guide to Internships in London will tell you more about the ins and outs of interning in the city.

There are, of course, tons of opportunities OUTSIDE of London, if big city life isn’t your vibe. Most firms have regional offices, and smaller, local accounting firms also take on students seeking work experience.

We advertise jobs everywhere from the South West to Yorkshire and Humberside...

Look for accounting jobs near me

Best Student Employers to work for

Every year we announce our Best Student Employers table; a list that is based on all the reviews that students submit to RateMyPlacement.co.uk

These employers are the Tyson Furys of the business world. They are the champions of undergraduate work experience in accountancy. And they are looking for students like you to get in the ring, and show them what you’re made of.

This year’s top companies for accounting internships, placements and insight schemes are…

When you’re choosing which employer to work for, bear in mind that accountants can be found in FTSE 100 companies and start-ups alike. So you might be able to pair your numerical aptitude with a real passion or interest of yours, such as technology.

Spotlight on KPMG work experience

KPMG is one of the Big Four, has over 200,000 employees worldwide, and has been around since 1897. It is the Blue Whale of the accounting world.

And their student programmes are a magnificent way of getting an insider’s view of what it’s like to work at the firm; including the work they do, the industries they work in and the challenges facing the businesses they work with…

KPMG PLACEMENTS

Placement students at KPMG are exposed to lots of different areas in the business, and get to work on real projects with real client impact. This Tax Assistant at KPMG had a whale of a time, rating the experience an 8.1/10...

“Placement students in the Capital Allowances team are treated more like fresh graduates than interns. Just weeks after joining, I was working on a par with the other graduates and involved in client work, including meetings and site surveys.” Tax Assistant at KPMG

INSIGHTS at KPMG

Most of KPMG’s insight days are targeted toward a specific audience. Like their Women in Technology Insight Programme, aimed at female students wanting to explore a career in Technology & Engineering.

This three-day programme is paid, and promises networking opportunities with inspirational female employees, key skills workshops, and an insight into the technologies they use (including AI, Cloud technology and machine learning).

Accounting internships

Finding accounting work experience elsewhere

Summer accounting internships with the Big Four (Deloitte, EY, PwC and KPMG) are wildly competitive, so you’re not guaranteed to get a spot. Even if you meet all their requirements.

If you don’t, these are FOUR other ways you can get relevant work experience:

  • Apply for current vacancies at SMEs in the financial sector (Small or Medium-sized businesses take on 1-20 students a year)
  • Send speculative applications to SMEs
  • Volunteer to be a society or club treasurer
  • Look for a part-time job that will develop key skills (e.g. teamwork, communication and problem solving)

Check out our guide to Banking Internships for more bright ideas on finding work experience in the financial sector.

Accounting jobs: where your career can take you

There are innumerable different options for those who want a career in accounting. You could end up working for a government institution, fighting financial crimes or helping businesses scale up...

FORENSIC ACCOUNTING

If this sounds exciting, that’s because it is. Forensic accountants are basically the detectives of the finance world. It’s not quite Line of Duty, but you will be tasked with solving financial crimes like fraud or financial irregularities.

"Forensic accountants are trained to look beyond the numbers and deal with the business realities of situations. This enables them to identify criminal activities, such as money laundering activities and the illegal sale of arms." ICAEW (Institute of Chartered Accountants in England and Wales)

INTERNAL AUDITING

An internal auditor scrutinises a company’s finances with a fine-tooth comb, looking for evidence of fraud or any flaws in their financial systems. (Sharp eyesight is a must.)

GOVERNMENTAL ACCOUNTING

A governmental accountant looks after the financial performance of institutions in the public sector. Just like Liam Neeson’s bad-ass character in Taken, these kind of accountants have a specific skill-set and often specialise in their field for years and years and years.

Watch Liam Neeson in all his glory here...

DID YOU KNOW?

Before singing 'Paint in Black' as The Rolling Stones frontman, Mick Jagger was preparing to keep clients in the black. Jagger reportedly studied accounting at the London School of Economics for a whole year, before ditching his degree for rock ‘n’ roll.

Chartered accountancy

Once you’ve secured a graduate accounting job, you can start thinking about gaining chartership. The title ‘chartered accountant’ (or the letters ACA/FCA) is given to someone who has:

  • undertaken a minimum of three years of in-depth training
  • passed exams in auditing, business strategy, financial management and taxation
  • committed to their own professional development, keeping their skills and knowledge up-to-date

There are THREE professional institutes of chartered accountants in the UK:

And there are THREE terrific reasons why you should consider becoming a chartered accountant:

#1 Boosted earning potential

Accounting jobs tend to come with hefty pay packets. According to High Fliers: The Graduate Market, the average graduate starting salary for the Accounting & Professional Services industry is £30,600 a year.

But this figure SOARS once you get all your professional qualifications. ICAEW Chartered Accountants earn an average annual salary of £51,000 in the first two years after qualifying.

#2 Global recognition

There’s a lot of respect for accountants who have completed the ACA qualification. (The kind of respect you might get when you land a double backflip on the trampoline.)

Their unique combination of commercial awareness, analytical thinking and numerical ability means they are sought-after by employers around the world.

Accounting is a global industry. Once you’re qualified, you can basically work ANYWHERE. Deloitte, for instance, has offices in Azerbaijan, The Bahamas, Taiwan and many, many more exotic destinations.

#3 Never stop learning

Accountants need to be hot on their rules and regulations. These are ALWAYS changing in finance, which means there’s ALWAYS something new to learn.

Like the great white shark (which continues to grow throughout its lifetime), accountants never stop growing as professionals. Regular training and qualifications help them maintain that razor sharp edge throughout their careers.

Accounting placements