Advisory roles go beyond preparing accounts and focus on helping businesses make strategic decisions. This may include financial planning, risk management, performance improvement, mergers and acquisitions, and sustainability strategies.
Aside from finance, many public practice firms also advise organisations on a wide range of commercial and regulatory issues. For example, helping organisations to reduce their costs, manage their risk and reputation, consider their environmental footprint and impact on society, find efficiencies in their IT, or improve the experience of their customers.
All of these advisory services require a solid understanding of finance, which makes accountancy the strongest foundation for this career. Advisory services naturally need employees with the same knowledge and skills needed for accounting and finance roles - such as auditing and credit control. Without which, they'd have no knowledge to draw upon!
While many students join the advisory sector as a business advisor, you can of course work in the finance team to help steer an accountancy or professional services firm towards greater profitability.
Frequently asked questions
Traditional accounting is often compliance-based, centred on financial reporting and meeting statutory requirements. Advisory work is forward-looking, using financial insight to guide decision-making and support business growth.
Strong analytical ability, commercial awareness, problem-solving, and communication skills are essential. You also need to be comfortable presenting insights, influencing stakeholders, and adapting quickly to different industries and client needs.
The ACCA Qualification equips you with both technical accounting knowledge and business strategy expertise. Exams such as Strategic Business Leader (SBL) and Performance Management (PM) build the skills needed for advisory roles, while ACCA’s global recognition opens doors internationally.
Advisory skills are in demand across many sectors including finance, technology, healthcare, energy, and professional services. Both public and private organisations seek accountants who can provide insight and add value beyond compliance.
You might start as a junior consultant or business adviser, progressing to senior consultant, manager, or director. With experience, many professionals move into senior leadership roles such as CFO, partner in an advisory firm, or independent consultant.
Start by building a strong foundation in accounting and financial management. Seek internships or graduate roles in advisory firms or finance teams, and develop soft skills such as presentation and negotiation. Networking and mentoring can also accelerate your path.
Salaries vary depending on the sector and level of seniority. In the UK, entry-level advisory roles may start around £30,000–£35,000, with mid-level advisers earning £45,000–£70,000, and senior consultants or managers often exceeding £80,000.
Explore further
Advertisement