Accountancy firms 'no longer elitist'
A new analysis of the so-called Big Four accountancy firms has suggested that they are no longer elitist in terms of who they hire and promote, with partnerships in fact serving as engines of social mobility rather than bastions of privilege.
Crawford Spence, of Warwick Business School and Chris Carter, of the University of Edinburgh, carried out the research.
They interviewed 32 people, some of whom were already at partner level. Others were aspiring partners, had retired, or previously failed to reach this level within a Big Four firm.
According to the pair of academics, the conventional and well-trodden path of private school, elite university and a well-remunerated role within the accountancy sector is no longer the route of many top partners.
"Partners in elite law firms tend to come from privileged backgrounds and elite universities. This is not the case with partners from the Big Four accountancy firms. Instead there was a preponderance of provincial university graduates from relatively modest backgrounds – aspirational working or lower middle class," said Professor Spence.
Many of the respondents to the survey were state educated and came from families in which they were the first member or one of the first members to attend university.
In fact, of the 32 people interviewed for the project, only three had gone to an elite institution such as Oxford or Cambridge.
"By way of contrast the children of accounting partners were privately educated and attended or were planning to attend elite universities," added the professor.
Interestingly, he highlighted a potential conflict of interest between the background of many partners and their traditional role as stewards of public interest and risk management.
Often their promotion came about because they excelled at chasing up leads and driving up income for their firm, meaning the old-school concept of 'technical partners' - excellent accountants promoted for their skills in this area - is fairly out-moded.
Communication experience and the ability to liase with a range of commercial interests are also crucial factors in the success of new partners, the study revealed.
Signup to receive the latest discipline specific articles
Related articles
Teaser
Financial ServicesContent Type
General
03/01/25
Summary
The financial job market in the UK is incredibly competitive. Finding the right professionals can be time-consuming and costly without the right help. This is where a specialist finance recruitme
by
Anthony Mills
Teaser
Financial ServicesContent Type
General
03/01/25
Summary
Recruiting in the financial industry requires plenty of strategic thought. In a competitive landscape where nearly 50% of employers are looking to hire, strong recruitment strategies are more imp
by
Sarah Fallon
Teaser
Financial ServicesContent Type
Career Advice
25/11/24
Summary
If you’re in finance, you’ll have heard chatter about the rise of private credit. A pillar of alternative investment, the surge of this sector has brought a wave of opportunities. Private credit
by
Cliodhna Lynch
Related jobs
Salary:
£30,000 - £40,000 per annum + Study support & Fantastic progression
Location:
Leeds, West Yorkshire
Industry
FinTech
Qualification
Part qualified
Market
Commerce & Industry
Salary
£40,000 - £50,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Marks Sattin are delighted are recruiting for an Management Accountant position based on the outskirts of Leeds.
Reference
LG172888
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
£30,000 - £40,000 per annum + Study support & Fantastic progression
Location:
Leeds, West Yorkshire
Industry
FinTech
Qualification
Part qualified
Market
Commerce & Industry
Salary
£40,000 - £50,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Marks Sattin are delighted are recruiting for an Assistant Management Accountant position based on the outskirts of Leeds.
Reference
LG172889
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
£50,000 - £55,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Really excited to be working on a new Senior Accountant opportunity in Leeds for a well known business.
Reference
LG1783720
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
£45,000 - £53,000 per annum + Hybrid, flexi time, healthcare
Location:
Bradford, West Yorkshire
Industry
Media & Communications
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Qualified Management Accountant role working for one of the major businesses that this company owns with genuine progression opportunities.
Reference
LG17522231
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
£45,000 - £52,000 per annum + Hybrid, flexi time, healthcare
Location:
Bradford, West Yorkshire
Industry
Media & Communications
Qualification
Finalist / Newly qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Highly successful listed telecommunications company with global reach.
Reference
LG78266832
Expiry Date
01/01/01
Author
Laura GunbyAuthor
Laura GunbySalary:
Negotiable
Location:
London
Industry
Media & Communications
Qualification
Finalist / Newly qualified
Market
Commerce & Industry
Salary
£60,000 - £70,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Our client in the sports media industry located in Central London is looking for a Finance Manager to join their team as their first hire in Finance.
Reference
HLM183037
Expiry Date
01/01/01
Author
Harry LathamAuthor
Harry LathamSalary:
£27,500 - £28,500 per annum
Location:
Leeds, West Yorkshire
Industry
Professional Services
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Marks Sattin are currently recruiting a permanent Control Controller on behalf of a well established Professional Services Businesses based in Leeds City Centre - offering hybrid working.
Reference
BBBH183027
Expiry Date
01/01/01
Author
Yasmin CloughAuthor
Yasmin CloughSalary:
£800 - £1,000 per day
Location:
London
Industry
Energy, Resources and Industrial
Qualification
None specified
Market
Commerce & Industry
Salary
£350 - £450
Job Discipline
Project & Programme Management
Contract Type:
Contract
Description
Operations Programme Manager | £800 - £1,000/day Outside ir35 | 12 Month contract | On site in Belgium (4 days per week)
Reference
BBBH183034
Expiry Date
01/01/01
Author
Joshua GreenhalghAuthor
Joshua GreenhalghSalary:
£28,000 - £35,000 per annum
Location:
Cradley Heath, West Midlands
Industry
Manufacturing
Qualification
None specified
Market
Commerce & Industry
Salary
£35,000 - £40,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
A really exciting new opportunity has arisen for an Assistant Accountant. An engineering business are in need of someone who can support within their
Reference
BBBH183023
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£45,000 - £50,000 per annum
Location:
Halesowen, West Midlands
Industry
Manufacturing
Qualification
Finalist / Newly qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Qualified Finance
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Marks Sattin are working in partnership with a reputable Construction organisation in the Halesowen area to recruit a Project Accountant.
Reference
BBBH183022
Expiry Date
01/01/01
Author
Anthony MillsAuthor
Anthony Mills