Qualified vs Qualified by Experience: Which Finance Hire is Right for Your Team?

"ACA/ACCA/CIMA qualified" is one of the most common lines on a finance job advert. It is also one of the most common reasons a strong shortlist ends up shorter than it needs to be.

Across Thames Valley and Surrey, we speak with finance leaders every week who are weighing the same question: do we hold out for letters after a name, or do we open the role to candidates qualified by experience (QBE)? There is no single right answer. The best choice depends on the role, the business and where your finance function is heading.

This article sets out what each route really offers, where each one tends to work best, and how to write a brief that gets you the right person rather than the right paperwork.

What do we mean by each?

Qualified usually means a candidate holds a chartered or professional accountancy qualification. In the UK that is most often ACA (ICAEW), ACCA or CIMA, with CIPFA common in the public sector. These routes combine years of exams with supervised work experience and ongoing CPD and ethics requirements.

Qualified by experience (QBE) describes someone who has built the technical and commercial skills of a qualified accountant through years in role, without completing a professional qualification. Many QBE candidates hold AAT or are part-qualified. Others learned on the job, often in one business, and have grown with it from accounts assistant to management accountant or even financial controller.

The two routes evidence ability in different ways. A qualified candidate's capability is backed by exams, supervised training and ongoing CPD, while a QBE candidate proves themselves through their track record and references.

Technical breadth differs too. Qualified accountants tend to bring consistent, broad, standards-based knowledge, whereas a QBE candidate's breadth depends on the roles they have held. As a result, qualified hires are often strongest in reporting, audit, compliance and technical judgement, while QBE candidates typically shine in hands-on delivery, systems and deep sector knowledge.

There are practical differences as well. Qualified candidates generally expect a higher salary at the same level and are highly sought after from newly qualified upwards. QBE candidates are often more flexible on salary and come from a wider pool, especially at mid level.

When a qualified hire is the right call

A professional qualification is more than a badge. It signals a tested level of technical knowledge, a grounding in ethics and a commitment to keeping skills current. In some roles that matters a great deal.

Insisting on a qualification usually makes sense when:

• Statutory reporting or audit is central to the role. Group accounts, consolidations, IFRS or FRS 102 judgements and audit liaison all reward formal technical training.
   
• Your stakeholders expect it. Boards, investors, lenders and auditors may expect a qualified Financial Controller or Finance Director, particularly in PE-backed, regulated or listed businesses.
   
• It is a regulatory or contractual requirement. Some financial services, public sector and practice roles require a chartered or professional qualification.
   
• The role is a stepping stone to CFO. If you are hiring a future Finance Director, a recognised qualification will make it easier for them to step up and be accepted at board level.
   
• You need someone to set the standard. When you are building or rebuilding a finance function, a qualified accountant can bring proven frameworks for controls, reporting and governance.

When a QBE candidate is the right call

Some of the most effective finance professionals we place never sat a final exam. What they lack in letters they often make up for in practical delivery, systems know-how and deep understanding of how a business actually makes money.

Opening a role to QBE candidates is often the smarter move when:

• The role is about running the engine. Month-end close, management accounts, credit control, payroll and purchase ledger oversight rely on accuracy and reliability more than exam knowledge.
   
• Sector or systems experience matters most. Someone who knows your ERP, your industry's revenue model or your stock and costing processes can add value from week one.
   
• You are an SME or owner-managed business. Many growing businesses across Thames Valley and Surrey need a hands-on, all-round finance lead rather than a technical specialist.
   
• Your external accountants handle the statutory work. If year-end accounts and tax are outsourced, an experienced in-house manager can be the right fit and cost-effective.
   
• Speed and pool size are a priority. Removing a hard qualification requirement can widen your shortlist considerably and shorten time to hire.

It is worth remembering that many QBE candidates are part-qualified and studying. Supporting them to finish can be a strong retention tool and builds loyalty that is hard to buy at market rate.

What the market is telling us

Qualified accountants remain in high demand, and that comes at a price. The Hays UK Salary & Recruiting Trends 2026 guide puts newly qualified accountants at around £45,000 to £65,000, rising to £65,000 to £110,000 with five or more years of post-qualified experience (ACCA, citing Hays). Morgan McKinley's South East commerce and industry benchmarks are similar: £48,000 to £60,000 for a newly qualified accountant and £75,000 to £85,000 for a Financial Controller (Learnsignal, citing Morgan McKinley).

The qualification pipeline is also long. ICAEW's ACA typically takes three to five years and combines 14 exams with at least 450 days of professional experience (Learnsignal, citing ICAEW). That means supply of newly qualifieds cannot flex quickly when demand rises.

The same benchmarks make an important point: pay is driven by the role, the sector and the scope of responsibility more than by the letters alone. At Financial Controller level and above, commercial track record often counts for as much as the qualification itself.

For employers in Thames Valley and Surrey, that creates a real opportunity. Many businesses compete with London for qualified talent. Opening a role to strong QBE candidates can widen your pool, ease salary pressure and bring in people who already know the local market and its sectors.

Five ways to get the brief right

1. Start with outcomes, not letters. List what the person must deliver in their first 12 months. Then ask whether a qualification is essential to that, or simply reassuring.
    
2. Separate "essential" from "preferred". "ACA/ACCA/CIMA or QBE" keeps strong experienced candidates in play without lowering the bar.
    
3. Test skills, not assumptions. A practical task, such as a reconciliation, a variance analysis or a short management pack review, shows ability more clearly than a CV line.
    
4. Think about the whole team. A qualified Financial Controller supported by an experienced QBE management accountant can be a stronger, more balanced function than two of a kind.
    
5. Consider study support. Offering to fund AAT, ACCA or CIMA for the right QBE hire can attract ambitious people and keep them for longer.

Talk to Huntress

The right hire is the one who can do the job well, in your business, for the long term. Sometimes that person is newly qualified. Sometimes it is someone with ten years of hands-on experience and no letters at all.

Our Accountancy & Finance teams in Thames Valley and Surrey recruit across temporary, interim and permanent roles, from transactional finance through to Financial Controller and Finance Director. If you are weighing up a qualified or QBE hire, we can share what the local market looks like and help you shape a brief that attracts the right people.

Get in touch with Sarah McKenchie

Sources
• How much does an accountant earn? ACCA 
• ICAEW ACA Salary Guide UK 2026, Learnsignal
• Huntress