The Rewards of an ICB Bookkeeping Career
Ever wondered about the inner workings and lifestyle of a career in bookkeeping?
The latest ICB survey results reveal some exciting insights. Whether you’re an aspiring bookkeeper, a current student, or thinking about a career change, these findings may just guide you towards a fulfilling career.
Who are the ICB?
The Institute of Certified Bookkeepers (ICB) recently surveyed almost a thousand bookkeepers. This survey sheds light on the opportunities and benefits associated with a career in bookkeeping.
Earning Potential in Bookkeeping
Impressive Earnings for Bookkeepers
One of the most striking findings from the ICB survey is the earning potential within the bookkeeping profession. According to the survey, 60% of bookkeepers earn between £20k and £40k annually. Additionally, 20% of bookkeepers made over £40k, showcasing the financial nature of this career path.
For those in practice, 40% are turning over at least £40k, with 58% expecting this figure to increase next year.
To put these earnings into perspective, it’s essential to compare them with the average salary in the UK, which stands at £34k. This not only underscores the attractiveness of a bookkeeping career but also emphasises the financial stability it can offer.
Types of Work Bookkeepers Undertake
The ICB survey also explored the types of work bookkeepers commonly perform.
Payroll is a vital element of bookkeeping, with a substantial 65% of bookkeepers undertaking payroll tasks for their clients. Ensuring that employees are paid accurately and on time, this task requires precision and attention to detail.
In addition to payroll, bookkeepers are often responsible for handling self-assessment tax returns and managing the Construction Industry Scheme (CIS). These roles are often pivotal for a businesses operation, and as such are in high demand.
The diverse skillset that bookkeepers gain through courses such as ICB offer incredible job variety, making it an exciting career choice for many.
Flexibility in the Bookkeeping Profession
One of the key benefits of a bookkeeping career, is the flexibility the career offers. As highlighted by the survey, an impressive 54% of bookkeepers work part-time, with the average workweek being around 20 hours. This flexibility allows you as a bookkeeper to balance your professional and personal life effectively. Making bookkeeping an ideal choice for those seeking work-life balance.
So much so, when asked to rank their work-life balance on a scale of 1-10, the majority of bookkeepers rated their satisfaction at 8 out of 10.
This high level of satisfaction shows that bookkeeping enables professionals to maintain control over their lives while pursuing a fulfilling career. Primarily stemming from the ability to set your own schedule and work from various locations.
It is important that the flexibility and control that comes with a bookkeeping career contributes to overall well-being and happiness. Many bookkeepers report feeling happy and in control of their lives, thanks to the nature of their work.
This positive impact on mental and emotional health is a significant especially as work is such a huge aspect of our lives.
Taking the Next Step with ICB Studies
Why Choose ICB Studies?
Pursuing ICB studies is often the best step if you are considering a career in bookkeeping. The Institute of Certified Bookkeepers offers a course which equips you with the knowledge and skills needed to excel in the profession. By enrolling ICB, you gain access to expert guidance and resources that pave the way for a successful career.
Training Link – Your Partner in Success
At Training Link, we are proud to be recognised as an 11-time training provider of the year award winner. Our commitment to excellence ensures that you receive top-notch education and support throughout your ICB studies. Whether you are a beginner or looking to advance your skills, Training Link is your trusted partner in achieving your career goals.
Start Your Journey Today
The ICB survey results highlight the numerous benefits of a bookkeeping career, from impressive earning potential to flexible work arrangements. By embarking on ICB studies with Training Link, you take the first step towards a rewarding and fulfilling profession. Our expert tutors and comprehensive resources are here to guide you every step of the way.
