Incorporating NQ magazine
February 2026
www.pqmagazine.com/www.pqjobs.co.uk
ARE YOU FUTURE READY? PQ accountants are on the move, with nearly two out of every three (62%) looking to move jobs in 2026, according to the latest Hays UK salary guide. Hays warned employers that their PQs will look elsewhere if progression routes in their current organisation aren’t clear. This lack of clarity pushes PQs to explore salary, learning and development, and hybrid flexibility elsewhere. Nearly 70% of PQs are either working hybrid or fully remotely, with just over 30% fully office-based. Some 53% of PQs say they now would not go for a role that didn’t offer hybrid working. That said, Hays found that there is a gradual increase in organisations wanting people ‘more in the office’. When it comes to pay, PQs received pay rises of around 4.6% last year. That is slightly down on the previous year (6.2%), but the rise is double the overall UK average of 2.2%. And while 63% are satisfied with their current salary, that leaves 37% dissatisfied. The big reason for the dissatisfaction was employers not recognising individual performance. PQs studying both CIMA and ACCA saw bigger pay rises than the other bodies, and the differential seems to be growing. ACCA
and CIMA finalists in South-West England can now expect a cool £50,000 for their services, and those working in the capital should be on £60,000. In stark contrast, an ACA finalist in London can expect on average to take home £46,000, and a CIPFA finalist slightly more (£48,000). However, CIPFA salaries for finalist in the West Midlands shot up by £5,000 year-on-year, to £45,000 in 2025. But the further north you go the lower the salaries generally become – a CIPFA PQ in North-East England receives £33,000 a year on average.
YOUR ACCA PASS RATES The December 2025 ACCA pass rates have been announced, and it was a mixed bag of results. PM again stands out at the Applied Skills level for all the wrong reasons, with the December pass rate slipping to 40%. You have to go back to September 2021 to find a lower pass rate (then it was 37%). This result was reflected in the comments in the Open Tuition Instant Poll, where nearly one in five sitters (19%) said PM was a ‘disaster’, and another 36% said it was ‘hard’ exam. Students didn’t like the 20-mark regression analysis question, and some asked why there was no limiting factor, relevant costing or variance analysis questions in the paper. But the big worry this time around is the low Strategic Professional optional paper pass rates. For some students the new one option paper pass rule being introduced with the new qualification in 2027 can’t come quickly enough. At this latest sitting, the AAA pass rate of 38% is the worse we have seen for the whole of 2025, and APM had a paper pass rate of just 41%. Even the ATX pass rate was down on the September sitting, although at 50% at least it means half of
those sitting this paper are passing it. The AFM pass rate of 45% is better than expected. Some 34% of PQs who sat the paper said it had been a ‘disaster’ and another 42% said it was ‘hard’. Students admitted struggling with the question on business valuation, with many saying there was just too much data to deal with. If you excluded the Law paper (with an 82% pass rate), then just four of the 11 December Applied Skills and Strategic papers had pass rates of 50% and above. Some 120,633 PQs entered for the December sitting, which saw 137,609 exams completed. Alan Hatfield, ACCA executive director – content, quality and innovation, said: “We begin 2026 with a strong set of results from the largest volume of exams taken since December 2021. “We would like to congratulate 4,852 students who have now completed all their exams and will move to affiliate status. We look forward to welcoming them to membership when they will join over 257,000 talented and committed ACCA members around the world undertaking successful careers and making a positive impact. “This is an exciting time for ACCA as we focus
Salaries for ACA PQs on mainland Britain were lowest in North-West England at £32,000, followed by Wales, where PQs are earning £34,000 a year. In Northern Ireland, the same PQs earn just £26,500. Salaries for AAT have also risen in SouthWest England, from £27,000 to £30,000 – and that’s the same average salary as those working in London. Hays found employers faced with skills shortages are now putting greater emphasis on upskilling and on a candidates’ learning potential, rather than just their professional qualifications. That means PQs need to start showing off their adaptability and curiosity, alongside their technical and digital skillsets. Ultimately, employers want PQs who can evolve with technology, not just tick boxes. Karen Young, director at Hays Accountancy and Finance (pictured), said: “2026 will favour future-ready PQs who combine technical expertise with adaptability, data fluency, and a proactive approach to progression. Employers are hiring, salaries remain competitive, and skills-based pathways are expanding, so position yourself to take advantage.” Check out all the salaries on page 18.
on delivering our redesigned qualification. The ACCA qualification has always been the gold standard, globally recognised and highly valued by employers. It will remain as rigorous, relevant, and future-focused as ever, with an even sharper focus on employability. “ACCA has prepared a smooth transition for all students currently on, or about to start, their ACCA journey. Existing achievements will be recognised and there will be no disadvantage in terms of progression and the cost to complete the qualification.” ACCA 2025 PASS RATES PM AA TX FR FM SBL SBR APM AAA ATX AFM
DEC 40% 46% 55% 51% 48% 50% 48% 41% 38% 50% 45%
SEPT 43% 46% 55% 48% 46% 51% 48% 40% 40% 53% 44%
JUNE 43% 44% 54% 50% 48% 51% 49% 40% 40% 49% 46%
MARCH 42% 47% 55% 49% 50% 53% 50% 39% 39% 52% 45%