Employers believe a new degree apprenticeship will accelerate career progression and bridge the divide between traditional finance roles and the demands of an evolving sector.
Senior business leaders last week visited the University of Exeter for the induction of students on the new Accounting Finance Manager Degree Apprenticeship programme.
Delivered by the University of Exeter and AAT (Association of Accounting Technicians), the programme is unique in offering both academic and professional accounting and finance qualifications.
Apprentices work towards the AAT Level 4 Diploma in Professional Accounting in the first year of the programme, making them immediately ready for a range of finance and accounting roles.
After three years the apprentices receive a BSc in Applied Finance from Exeter, and completion of the programme provides maximum exam exemptions when progressing to complete full chartered accountancy qualifications.
Apprentices work in full-time jobs while they study, so by the time they complete all their formal qualifications they also have three years' work experience under their belts.
Employers say this alternative to traditional degrees helps them to nurture talent from an early stage, embedding their own organisational values and technical standards while supporting formal education.
"This approach helps us build a pipeline of professionals who are not only qualified but also deeply aligned with our business needs and culture," said Kristian Leese, UK Financial Controller at Vanguard Asset Management Ltd, adding that the blend of academic rigour and practical experience can be particularly valuable in finance and regulatory reporting.
"In our sector, we often see gaps in areas such as regulatory interpretation, financial systems integration, and cross-functional communication, and the Accounting Finance Manager Degree Apprenticeship is well-positioned to address these gaps by equipping apprentices with both the theoretical foundation and the applied skills needed to navigate complex reporting environments.
"It also helps bridge the divide between traditional finance roles and the evolving demands of digital transformation and compliance."
The two-day induction event saw the student apprentices welcomed by University of Exeter and AAT staff with a series of talks and workshops to get them started on their apprenticeship journey.
Frankie Shearn, L&D Business Partner at Carpmaels & Ransford, says learning as a cohort provides a valuable social dimension to learning, with the apprentices being potentially valuable future work contacts to each other - and adds that it gives talented school leavers with a platform that is likely to accelerate career progression.
"Considering the position they will be in in three years' time - with a degree, AAT level 4, exemptions for the ACCA, three years of work experience and full-time earnings - we're hopeful that the Accounting Finance Manager Degree Apprenticeship will turbocharge our apprentice's career."
Rachael Johnstone, Dean of Professional Education and Partnerships at the University of Exeter, said: We are proud to be building an inclusive route into accounting and finance that equips apprentices to thrive from the start thanks to our special partnership with AAT. We have worked closely with our employer partners to ensure the programme is informed by - and aligns to - modern business practice and we are confident our inaugural 'innovation cohort' will graduate with the skills, experience and confidence to shape the future of the sector."
Claire Bennison, Executive Director, Customer, Partnerships and Innovation at AAT, said: "As a result of our close working partnership with the University of Exeter, it's clear our Accounting Finance Manager Degree Apprenticeship has the potential to be transformational to students and employers alike. Not only that, it's also a strong example of how, by working together, we find different solutions to addressing the skills shortage across the UK, and open up access to careers in finance.
