A brief introduction to the ACCA career scope around the world

Globally the financial transactions across the countries are increasing day by day, because of which every country is creating stringent regulations. In order to implement these regulations, Certified Professionals are required across industrial organizations. One of the best-known professional bodies is ACCA, which is the Association of Chartered Certified Accountants. This course has excellent scope primarily in the United Kingdom and European countries with good ACCA salaries

It is a Professional Certified Degree with global recognition and is applicable across the world. Also called global CA as it covers the areas of Accounting, Financial Reporting, Auditing, Business Finance, Taxation, and Financial Management which are the core aspects of the Chartered Accountants. It not only focuses on these subjects but also includes the subjects for inculcating the skills in the area of strategy and organizational management.

Students can pursue this course along with their graduation. The examination will be conducted online and candidates are allowed to take these exams from anywhere in the world. Please check Henry Harvin’s ACCA course for further details.

ACCA career scope

ACCA is not specific to any country, it’s an international course. If you want to work abroad and get foreign exposure, you can definitely join this course. ACCA professional qualification is of a high standard and is equal to completing a full degree course. Pursuing this course will make you stand out among other employees. You also gain skill development through this course. The job opportunities and positions for a wide range of organizations that employ candidates at different levels with good ACCA salaries.

  • Entry level: Accountant, Internal auditor, tax accountant, financial analyst, business analyst.
  • Middle level: Management accountant, Business advisor, credit control manager, financial controller, risk management, forensic accountant, Insolvency practitioner.
  • Senior level: CFO(Chief Financial Officer), group accountant, governance officer, treasurer.

ACCA career scope in India

India is expected to be growing in economy at faster rate due to youngest population and stable government in the world. With many business opportunities, India also presents a progressive accounting and financial ecosystem for the future. The syllabus in ACCA is such that, you will get good knowledge and exposure to various subjects.  The ACCA career scope has more than 7000 jobs based in India for the financial year.

In the past few years, the ACCA career scope and job opportunities have increased rapidly in India. You can work for different profiles, after completing ACCA.

Most of the companies are mainly hiring candidates in profiles like Audit profiles, management accounting, planning profiles, accountants, the treasury department, and financial controllers in the regulatory department of investment banking.

The Big4’s like Earnst and Young, Price Waterhouse Coopers(PWC), Klynveld Peat Marwick Goerdeler(KPMG), Deloitte, TATA communication, and Embassy groups are a few employers who are recruiting the majority of the ACCA professionals enthusiastically, as they have become aware of their qualifications. Now a days, ACCA and CA degrees are considered equivalent by employers.

Apart from Big4, there is ACCA career scope in several other MNCs across the metropolitan cities like Delhi, Mumbai Kolkata, Bangalore, Hyderabad, and Chennai that hire ACCA candidates. Also, there are two-tier cities like Pune, and Gurgaon, where, you have opportunities in smaller finance-based companies also, which hire students with accounting and financial backgrounds, especially ACCA students.

ACCA career scope worldwide

As ACCA is a recognized course around the globe and in various countries like the united kingdom, Canada, United Arab Emirates, Ireland,  Singapore, and many European countries. You can get into accountancy jobs in many countries also other than India.

With over 100,000 jobs every month worldwide, you will find valuable opportunities, which will take your career in the direction you want.

This is where leading organizations in every category and every country are eagerly looking for talented and determined candidates. You have better chances of getting jobs abroad. Having completed ACCA, ACCA has more than 7000 approved employers and close to 80 worldwide partnerships in accountancy. And the best part about  ACCA is that it also provides various opportunities to candidates through its portal also.

ACCA salaries in India and around the world

1. ACCA salaries in India

In India, the ACCA salaries are equivalent to that of a Chartered Accountant. After completing the course, the salary for a fresher may vary from 4 lac to 8 lac per annum depending on the student’s skills, competition, and the company’s requirements. But after getting the training in a particular organization for 3 years, you will become a member of the association. As you gain more experience and showcase your talent, the expected salary may increase further. The ACCA salaries varies accordingly depending on the experience for different levels which are given as below

  • In India, after you clear 9 papers out of 13 in ACCA,  ie., skill level. You can apply for a job, and you may get paid approximately 18k to 25k per month. 
  • If you are an ACCA affiliate, that means if you have cleared all 13 papers, then companies will pay you around 35k to 50k per month.
  • After becoming a member of ACCA, ie., after 3 years of work experience, then you can expect a salary of around 10 to 12 lacs per annum.
  • Once, the candidate gets an experience of more than 5 years after becoming the affiliate, then the average salary may vary around 14 to 16 lacs per annum.

2. ACCA career scope and salaries in the United Kingdom 

In the United Kingdom, many accountants(one who holds a bachelor’s degree in accountancy, finance, and business), who are trainees, study ACCA while on accountancy jobs. Even for trainee accountants, there are few countries that offer exceptional salary packages because of their tax benefits.

In the UK, the candidates who have completed ACCA, are recognised with the title of certified chartered accountant. ACCA is one of the leading accounting qualifications. ACCA-qualified students can work in other areas of finance like banking, auditing, financial consulting, taxation, and law, as well as other general areas of business management.

The starting ACCA salaries may vary appreciably depending on the size of the organization you work for, the location, the sector, and your qualification. Initially, the salaries for the corporate sector are higher than that of the public sector. Salaries for the people who are working in banks and insurance companies as chartered certified accountants are usually higher. The ACCA salaries for accountancy and certified chartered accountants are

  • UK accountant salary: £19,000 to £27,000
  • Average UK certified chartered accountant (ACCA): £35k  to 58k

Also, the pay packages vary depending on the different sectors in which you are working. The salaries for different sectors is given below.

  • Banking – 25-30k pounds
  • Auditing – 23-35k pounds
  • Financial consultant – 45-50k pounds
  • Taxation – 25-40k pounds
  • Business management – 29-60k pounds

The ACCA salaries also vary depending on different locations in the United Kingdom. The highest paid ACCA salaries in the UK is London.

a. ACCA salaries in the UK based on certifications

If you want to practice independently in the UK, you have to get certifications from different regulatory bodies. Different organizations in the UK provide professional certifications to certified chartered accountants(ACCA) depending on which course you want to get into.

The pay packages vary for different certifications depending on the structure and course difficulty. The qualifications that are provided by these organizations and the salaries offered for these certifications are as below.

  • Charted Institute of Management Accounts (CIMA), with this additional Professional Certificate the basic salary will be around £53,300 per annum. 
  • Depending upon the candidate’s aspiration/interest, they can explore other Professional Certificate courses like Certified Public Accountant (CPA) for which the basic salary will be around £55,700 per annum
  • And, Institute of Charted Accountants in England and Wales (ICAEW), with this additional Certificate, the pay goes up to £112,600 per annum respectively.

3. ACCA career scope and salaries in UAE

The national accounting body in the United Arab Emirates is the Accountants and Auditors Association(AAA). ACCA has partnered with it. Recently, Dubai is emerging as the financial capital of the United Arab Emirates. So you can consider UAE in seeking jobs for ACCA. in the past few years, the United Arab Emirates finance and accounting industry has evolved and now United Arab Emirates follows international accounting standards, because of which there is a lot of demand for ACCA professionals. 

For working in UAE, the profiles which are required are accounting, taxation, internal and external audit, consultancy, financial planning, and analysis department, where you can work on management accountant-related profile. As an ACCA member, you can work in different profiles.

The local talent in UAE is not sufficient for the industry requirement. So, we can see that job availability in UAE for ACCA is very good. Moreover, Dubai is the hub for Multi-National companies and startups. Finance and accounting professionals with skills and experience in the specific domain have huge job offers.

Also, you can start your own business for consulting, tax filing, advising, etc. this is another option for ACCA candidates.

  • The salaries for freshers’ in UAE for an ACCA varies from 4000 AED to 7000 AED
  • However, the salary for the accountant jobs will be somewhere around 4000 to 7,000 AED.
  • Working as a finance manager a certified chartered accountant in Dubai can earn a salary of about 6000 to 10,000 AED with a little one or two years of experience.
  • After 5 to 7 years of experience, you can earn in the range 17k to 20 k AED

4. ACCA career scope and salaries in Canada

The ACCA is considered as a three-year degree course in Canada. After which you can pursue a master’s degree in Canada on the basis of ACCA. However, ACCA alone is not directly recognized in Canada. But anyone who is a member of ACCA can become a part of CPA Ontario and can enter this accounting body through a pathway called Member of an Accounting Body outside Canada.

There is an abundance of job opportunities in Canada for ACCA members. On LinkedIn, there is an official page for ACCA members, where they post different job opportunities for ACCA members. An ACCA member with CPA Ontario membership can avail of benefits in different job profiles and well-paid job opportunities. There are many companies like KPMG, Ernst and Young, MNP, RSN financial services limited, Bank of Montreal, Amazon, and Binder Dijker Otte(BDO) Canada that directly hire ACCA members and ACCA affiliates. The ACCA salaries for the same are as below

  • The salary of an individual in the Association of Chartered Certified Accountants(ACCA) is from CAD 15,456 — CAD 174,524 
  • There are many female ACCAs who account for almost 77% of ACCAs. They have an average salary of CAD 40,000 – CAD 49,132 
  • While the male ACCAs are only about 23% and they have an average salary of about CAD 49,132 – CAD 100,719.

5. ACCA career scope and salaries in Australia

Candidates who have a degree in ACCA are recognized by the Certified Practicing Accountant(CPA) Australia and the institute of public accountants. There is a wide range of job opportunities in Australia with the roles varying from accountants to financial accountants.

However, there is also a lot of competition in Australia for accounting jobs, so if you have a good and recognized degree in the accounts and audit field then there are a lot of opportunities in middle-level management. And this is good scope for freshers in ACCA. the companies in Australia have formulated many rules, which can be satisfied by the ACCA members. Melbourne and Sydney are obviously the best places to start your career as major jobs come from these 2 cities. The ACCA salaries in Australia are given below for distinct levels.

  • Entry-level salaries for an accountant start at AUD 78,222 per annum
  • Mid-level salaries for an accountant go up to AUD 92,344 per annum
  • An experienced professional’s salary can go up to AUD 116,711 per annum

Salaries also vary depending on the sector and position you are in, which are referred to below.

  • Finance manager: AUD 130,000
  • Regional manager:  AUD 126,913
  • Business analyst:  AUD 110,225
  • Controller:  AUD 104,108
  • Office manager:  AUD 85,043

6. ACCA career scope and salaries in Singapore

Singapore is one of Asia’s biggest financial hubs. This is a place for those who aspire to become certified chartered accountants in multinational companies in Singapore or any other overseas organization. You can easily get into these MNCs with globally recognized ACCA qualifications. Apart from MNCs, organizations like Accenture, and Keller Siber group also hire ACCA members.

Also, because of globalization and economic development, the demand for qualified ACCA members has been increasing over the years with respect to Singapore. There are various options in different fields with distinct roles, where one can expect to work. And hence there is a lot of scope for an ACCA member to work in sectors like Chartered accountant, Financial Advisor, Tax consultant, Business analyst, Accounts manager, Auditing consultant, Finance analyst, Credit analyst, and, Internal auditor.

You can also set up your own auditing firm, and become an entrepreneur. The demand for ACCA-certified professionals in Singapore is also very high. The ACCA salaries for Singapore are

  • An Accountants average salary in Singapore  is SGD 4,200 per month 
  • Hence, the entry-level salary that can be expected ranges from SGD 30,000  to SGD 36,400 per Annum.
  • With a few years of experience, the average package may go up to SGD 56k. 

Salaries also vary depending on the title and sector in an organization. Few of which are given below

  • Staff accountant: SGD 30,000 per annum
  • Junior accountant: SGD 50,000 per annum
  • Accounting manager: SGD 76,500 per annum

7. ACCA career scope and salaries in Europe.

The qualification of ACCA can also make you eligible to work as a certified chartered accountant or as an accounting professional in other parts of Europe like Ireland. However, in Ireland, the qualification of ACCA is considered to be equivalent to postgraduate diplomas and master’s degrees.

There are a plethora of opportunities for ACCA Finance and Accountancy jobs in Europe. These opportunities include a broad range of sectors including management consultancy, core financial organizations, property and construction, manufacturing, and including IT also. However, there is a wide range of roles from those accountants, financial controllers, bookkeepers, financial analysts, financial advisors, business analysts, and management accountants to finance managers.

The opportunities for the jobs in Europe are spread across various locations. Ranging from Belgium, the Czech Republic, Germany, Spain, and the Netherlands to Switzerland. There are many ACCA-approved employers like Mulhern Leonard, Fraser Russel, PWC, and, Binder Dijker Otte(BDO). The average salaries which are expected in Ireland and other parts of Europe are as below

  • Entry level salaries: EUR 22,400
  • Middle-level salaries : EUR 30,100
  • Senior level salaries: EUR 44,100

Depending on the position and title in an organisation, salaries also vary accordingly. The salaries for different positions are given as below

  • Accounting Supervisor: EUR 54,000
  • Finance Manager: EUR 85,000
  • Financial Controller: EUR 72,500
  • Senior Internal Auditor: EUR 75,000
  • Finance Director: EUR 200,000

Conclusion

The financial transactions across the countries are growing, to meet these requirements new organizations in technology-oriented financial and accounting sectors are expanding in India and across the world. To ensure these organizations and financial transactions are complying with the countries’ stringent regulations.

Demand for Financial knowledgeable professionals with global recognition is also gaining popularity. Hence, the demand for Globally recognized ACCA professionals are very high and the students pursuing this professional course will have excellent pay packages along with the challenging and colourful carrier. As you can see from the above information/figures. Candidates with an ACCA member will have career prospects available in almost all parts of the world that can be utilized for career growth. And, conclusively pave a roadway towards a sustainable and equitable future for all.

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Also Check ACCA Course Review Video

FAQs

Q.1 Is ACCA a better option than MBA?

It is up to you to determine which profession you want to take. ACCA  imparts you with a more specialized skill set. Whereas an MBA will provide you with a wider skill set to handle businesses. ACCA has good career prospects throughout the world. ACCA and MBA both can be compensated.

Q.2 What is the better way to prepare for the ACCA exam?

One of the best ways to get prepared for an ACCA exam is to enroll in a training institute. which helps them advance in the field of accounting. Also, this is a comprehensive course as it covers a broader range of important topics. Here the students are given vital information in the institutes that will help them face real-world circumstances. Click on the link for more information about  Association of certified chartered Accountants(ACCA) course from Henry Harvin.

Q.3 Is ACCA recognized in the United States of America?

ACCA is not widely recognized in the United States. One must acquire a CPA US license to practice public accounting in the United States, which is issued at the state level.

Q.4 which country has good opportunities for ACCA members?

From the salary perspective, the best country to work for an ACCA professional is the United Kingdom. However, even Singapore and  Malaysia also have an equally high demand for ACCA members.

Q.5 What degree can I pursue post-ACCA to enhance my job opportunities?

You can do the Chartered Institute of Management Accountants(CIMA). After ACCA u will get an exemption of some papers for CIMA. Similarly, the Institute of Cost and Work Accountants of India(ICWAI) will also offer some paper exemptions post-ACCA. Both these degrees will enhance your career opportunities.

Q. 6 Is ACCA a very expensive course in India?

No, this is not an expensive course. The Association of Certified Chartered Accountant(ACCA) course fees is in the range of INR 4 lac to 4.5 lac, which is very reasonable for a financial degree. The return on investment will be very high compared to other financial courses like MBA.

2 Comments

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