Vocational student accountants have £70,000 head start

Vocationally trained accountancy students can be as much as £70,000 ahead of their graduate counterparts by the age of 21, according to research by the Association of Accounting Technicians (AAT).

The research reveals that AAT students who pursue vocational training at the age of 18, instead of going to university, are substantially wealthier than their graduate peers by the age of 21.

This figure has been calculated taking student debt into account, with banks suggesting that the average student debt is around £13,000 - a figure set to rise now that top-up fees have been introduced.

Jane Scott Paul, chief executive of the AAT, said: "£70,000 is a lot of money to anyone, especially those in the early stages of their career.

"With the vast majority of our school leaver students progressing on to become chartered at the same pace, or even quicker than graduates, it seems alarming that there is still such inherent snobbery towards vocational training in the UK.

"A student's ability to climb the business ladder and earn is largely down to the individual and rising stars will be rising stars whether they go to college or university."