Over the past few years, the ACCA qualification has gained a lot of importance in India and other countries. In India, the ACCA qualification is the global equivalent to the Indian CA certification. Students who are thinking about pursuing ACCA may still have some doubts about the scope in India and other countries. If you are looking for some more information about the scope and the Acca salary expectations of ACCAs in India and other countries, here are some insights on the same.
Average Salaries of ACCA Members in India based on their Job Profile
In India, the salary of an ACCA member can depend largely on their total years of relevant experience and their current designation in a company. The average salary of a regular Chartered Accountant in India is approximately INR 8.07 lacs per annum. Let’s take a look at the salaries that can be expected after completing ACCA.
Average Salaries of ACCA Chartered Accountants based on their experience
Another important factor that affects the average salary of an ACCA member is the total experience they have in a relevant field or industry. Naturally, if you have spent more time in an industry, the salary you can demand will be that much higher. Here are the average salaries you can expect from your career as an ACCA member depending on where you are in your career timeline before you gain this qualification.
- Entry Level – INR 7.05 lacs per annum
- Mid Senior Level – INR 11.17 lacs per annum
- Senior Level – INR 19 lacs per annum
Please note – These salaries are relevant to 2022 and maybe different in the future. They may also vary depending on the additional qualifications one may have or the size of the company they are working for.
ACCA Salary for Freshers
In India, a professional who has just completed their ACCA may get hired at a similar position as an Indian Chartered Accountant. Companies like BDO, Grant Thornton, J. P. Morgan and Morgan Stanley are actively hiring ACCA freshers in various accounting and finance positions. ACCA allows you to experience immense growth in your career, regardless of whether your hiring company is one of the more popular companies or not.
As a fresher, if you are an ACCA Affiliate, you can still expect a salary of around INR 4 to 6 lpa. This is expected to increase as you gain more experience in your field and show your talent at work. If you start working as a fresher after becoming an ACCA Member, the starting salary of ACCA Fresher will increase to INR 6 to 8 lpa.
ACCA Salaried With Job Roles
|Accountant||₹172k – ₹729k||₹348,171|
|Chartered Accountant||₹364k – ₹2m||₹985,808|
|Finance Manager||₹197k – ₹2m||₹967,750|
|Auditor||₹300k – ₹2m||₹625,710|
|Associate Auditor||₹252k – ₹839k||₹398,739|
Wanna be an ACCA ? Check out the Brochure here
ACCA Salaries and Scope Outside India
One of the biggest distinguishing factors about pursuing ACCA is that it opens opportunities for candidates to work in several other countries in addition to India. ACCA is recognised in various countries around the globe, and an ACCA is eligible to work accounting jobs not only in India but in other countries like the United Kingdom, Ireland, Singapore, UAE and Canada. If you are looking to work in countries like the USA, maybe US CPA would be more fit for you instead of ACCA. Check out our US CPA course for more details.
ACCA Salaries you can expect to earn in these countries are stated as follows.
1. United Kingdom
In the United Kingdom, the Association of Chartered Certified Accountants (ACCA) is a recognised authority that has legal recognition as an auditing body and also has membership with the Consultative Committee of Accountancy Bodies (CCAB). A Chartered Accountant with an ACCA qualification in the UK has signing authority to pursue a career in accountancy with no restrictions from work. Many universities are also willing to recognise ACCA as a Bachelor’s degree in accounting and such members would be eligible to get a master’s degree or enrol in an advanced study program. These are the average base salaries that an ACCA can expect to earn in the United Kingdom.
- Entry Level – GBP 39,100
- Mid Senior Level – GBP 52,500
- Senior Level – GBP 68,200
2. Ireland and other parts of Europe
In addition to the United Kingdom, an ACCA qualification can also make you eligible to work as an accounting professional or a Chartered Accountant in other parts of Europe like Ireland. In fact, in Ireland, the level eight qualification of ACCA is considered to be equivalent to postgraduate diplomas and master’s degrees. This level eight recognition of ACCA is given by The Quality and Qualifications Board Ireland. Following are the average salaries to be expected in Ireland after ACCA.
- Entry Level – EUR 20,400
- Mid Senior Level – EUR 28,100
- Senior Level – EUR 40,100
Just like the UK, ACCA is also partnered with the Accountants and Auditors Association (AAA) which is the national accounting body of UAE. The United Arab Emirates Chartered Accountant Qualification (UAECA), which is the official Chartered Accountant qualification in the UAE, requires students to complete ACCA as a basic requirement. The salary that can be expected by ACCA qualified Chartered Accountants in the UAE are as follows.
- Entry Level – AED 4000 – AED 7000 per month
- Mid Senior Level – AED 10,000 per month
- Senior Level – AED 20,000 per month
Switzerland, in addition to all other European countries, is under the Mutual Recognition Directive and recognises ACCA as a valid accounting degree. Moreover, since Switzerland follows the International Financial Reporting Standards (IFRS), an ACCA qualification can certainly help you in getting an accounting job in Switzerland. If you are up for it, you can also take additional exams to become a Swiss Certified Public Accountant. Following are the average salaries earned by Accountants in Switzerland.
- Entry Level – CHF 67400
- Mid Senior Level – CHF 117000
- Senior Level – CHF 155000+
5. Hong Kong
The qualification of ACCA is largely recognised in Hong Kong and offers several lucrative job opportunities for accounting professionals. Members of ACCA with accounting or non-accounting Degrees are quite likely to be eligible to become Chartered Accountants under the Hong Kong Institute of Certified Public Accountants (HKICPA). The salaries that can be expected after ACCA in Hong Kong are as follows.
- Entry Level – HKD 17,400
- Mid Senior Level – HKD 22,800
- Senior Level – USD 31,900
While the ACCA qualification is not officially recognised as a Chartered Accountant qualification in Canada, it can definitely help you land jobs in the finance and accounting sector. Moreover, the ACCA qualification is equivalent to a three-year degree in Canada, which means you can apply for a master’s degree on the basis of your ACCA degree. It can also help add to your Express Entry Profile for Permanent Residency in Canada. The salaries that can be earned after ACCA are listed below.
- Entry Level – CAD 62,300
- Mid Senior Level – CAD 82,500
- Senior Level – CAD 110,000
In Australia, professionals with a degree in ACCA are recognised by the Certified Practicing Accountant (CPA) Australia and the Institute of Public Accountants. Moreover, if an international ACCA member wishes to gain membership in the Institute of Public Accountants, they can do so by clearing the exams in Australian Tax and Law. Here are the average salaries that Chartered Accountants earn in Australia.
- Entry Level – AUD 50,800
- Mid Senior Level – AUD 64,200
- Senior Level – AUD 84,600
As you can see from the statistics mentioned above, the ACCA qualification can prove to be quite lucrative as a career in India and other countries. It is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.
Is ACCA equivalent to a Chartered Accountant?
The ACCA degree is equivalent to that of a global Chartered Accountant. However, the chartered accountancy requirements may vary from one country to another so aspiring professionals may have to earn additional qualifications.
Is ACCA equivalent to a Master’s degree?
According to the official ACCA website, if a candidate has cleared the Professional Level of ACCA, it is equivalent to a Master’s degree.
Is ACCA Recognised in USA?
ACCA is currently not recognised as an official accounting body in the USA. Therefore, ACCA members do not have statutory recognition to work as Public Accountants in any of the states. However, they can work in other domains such as consulting, advisory apart from audit.