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Practising as an Insolvency Practitioner (IP) is one of the most rewarding professions available. In this role, you could find yourself running a hotel one week, managing a large manufacturing plant the next, or even handling logistics for an aircraft parts company in Singapore. The variety and challenge make it a highly desirable career path.
As an IP, you will be exposed to a wide range of businesses and industries. Your tasks might include analyzing financial data, consulting with stakeholders, and planning strategies to secure the futures of companies and their employees.
To become a licensed Insolvency Practitioner in the UK, you must pass one or both of the Joint Insolvency Examination Board’s JIEB exams in Corporate Insolvency and Personal Insolvency. While some professionals focus solely on corporate work and therefore only need to pass the Corporate Insolvency paper, most opt to complete both exams to broaden their expertise.
The average salary for a licensed Insolvency Practitioner in the UK is £60,000 per year.
You can sit for the JIEB exams without prior qualifications. Exams are typically held annually in November, with results published in March. Once you pass, you can apply for a license, provided you have over 600 hours of relevant insolvency experience within the past five years.
If you prefer not to become licensed, there are other exciting roles within insolvency and restructuring. You can study for the CPI or the ICAEW Certificate in Insolvency CII to gain the skills needed to thrive in the field without pursuing full licensure.
NTI offers a variety of Insolvency Exam Training Courses to help you become an Insolvency Practitioner. Whether you are aiming to pass the JIEB exams or the CPI exams, we have a course that fits your needs. Book online or Contact NTI today for more information.
