Dubai has become one of the world’s top financial hubs and a leading business center for South Asia, Africa, and the Middle East. With the growth in the economy, the demand for various job roles ranging from construction workers to high-end finance and accounting professionals has risen rapidly.
A globally-recognised credential like ACCA qualifies candidates for various positions in the accounting field worldwide. Dubai is no exception. From lucrative salary packages to rewarding job roles, Dubai offers it all. Read on to learn more about the ACCA salary in Dubai 2022.
Job Market in Dubai
Considered to be the UAE’s financial capital, Dubai’s economy started to blossom in the late 1990s. The growth trajectory of this city has been immense and is mainly based on its oil reserves. A 2021 report shows that the UAE job market growth was 30%. The high demand for financial professionals like ACCA, CFA, CA, and CPA, was also a part of that growth.
The leading sectors that are hiring ACCA professionals in Dubai are:
- Transport and Logistics
- Management Consultancy
- Retail and FMCG
- IT and Telecommunications
Learn more about ACCA Career Scope and Job Opportunities in India and Abroad.
Salary Expectations for an ACCA
The average annual ACCA pay in Dubai for a professional is AED 91,000 (Rs. 20,48,097). Industry type and experience are the two significant factors that determine the salary package of an ACCA professional. Compared with other degrees like ACCA vs. CFA, ACCA vs. CPA, or ACCA vs. CA salary in Dubai, the packages are quite competitive.
ACCA Career in Dubai
An ACCA certification qualifies candidates for the following job roles in Dubai:
An Accountant is in charge of a company’s financial calculations. Administering payrolls, creating sales and cash flow reports, managing budgets, and carrying out billing activities, among many others, are the duties accountants have to perform. They also ensure that all company members are working and adhering to the company’s laws and policies.
When starting, an accountant with less than a year of experience can earn around AED 32,000 (Rs. 7,21,398) annually. With more than five years of experience, the compensation can go up to AED 60,000 (Rs. 13,52,622).
The Auditor’s job is to verify the accuracy of a company’s financial records. An Auditor can work as a freelancer or with a company and must be adept at problem-solving and have good communication skills. The average annual salary of an auditor is AED 77,687 (Rs. 17,51,352). Freshers can expect around AED 57,000 (Rs. 12,84,991).
Chief Financial Officer (CFO)
A company requires a CFO to oversee all financial operations. Their leadership abilities help companies efficiently manage all financial operations well within the laws and policies of the company. A CFO handles departments like investments, pricing, tax, and debt management and also conducts research and audits to ensure the company follows government guidelines. CFOs earn a whopping average annual salary of AED 530,983 (Rs. 119,703,242). The starting salary of a CFO is around AED 245,780 (Rs. 55,40,791).
The primary responsibility of a Forensic Accountant is to detect fraudulent activities, and they primarily work with government agencies, banks, and insurance companies. They research, analyse, and compile financial documents, transactions, and account histories.
Forensic Accountants also help in legal disputes by utilising their financial analysis, auditing, and accounting knowledge. The average annual salary of a Forensic Accountant is AED 95,865 (Rs. 21,61,152).
Treasury Analysts look after an organisation’s financial activity, which includes managing credit, cash flow, income, liability, and assets. They coordinate with several departments for seamless money management and are duty-bound to make income and expense projections by analysing financial patterns. The average annual salary of a Treasury Analyst is AED 108,200 (Rs. 24,39,228).
Risk Management Consultant
A Risk Management Consultant identifies, analyses, and monitors the level of risk in an organisation’s financial and technical aspects and tries to mitigate them. They analyse and create reports from their research findings and communicate them to the stakeholders and management to hatch a plan of action.
The average annual salary of a Risk Management Consultant is AED 140,432 (Rs. 31,65,857) when starting as a fresher. More than five years of experience can push this amount to AED 181,200 (Rs 40,84,919).
Advantages of an ACCA Career in Dubai
There are multiple reasons why ACCA professionals should consider opting for a career in Dubai.
Yes, you read it right! ACCA or any other professional does not have to pay any income taxes to the government. They also enjoy no tax on capital gains or inheritance and no stamp duty. These factors are a great way to save a lump sum over a long period for a secure future.
Renowned global organisations have their bases in Dubai. All these organisations require candidates who can handle accounting-related work, making Dubai an ideal destination for ACCA professionals.
Check out ACCA Coaching Classes in Dubai: Certification & Training Fees in detail.
High Standard of Living
Most companies provide housing allowances, once-a-year airline tickets to the home country, and health insurance to the employees. Along with these benefits, premium salary packages and tax exemptions also help professionals maintain a high standard of living.
Most of the professionals working in Dubai are expatriates from various nations. For this reason, Dubai has become the confluence of multiple cultures and professional domains. This not only helps professionals meet or collaborate on new opportunities but also enhances their skills and improves their experiences.
Quick Career Growth
With the scope for ample job opportunities and the ACCA being a globally recognised degree, professionals can aim for management roles while starting their careers.
If you are considering starting your career abroad after ACCA, opting for jobs in Dubai is a wise choice. ACCA members’ salaries in Dubai are lucrative, and the city also offers top-class amenities and a safe environment for its working professionals to thrive as individuals.
Enrolling in the right ACCA course will help you hone your accounting skills and boost your confidence to get jobs abroad. Zell Education’s ACCA course offers such an opportunity with its online interactive classes, personalised doubt-solving approach, eminent faculty, and 100% placement assistance that can make your dreams of working abroad come true.
What is the salary of ACCA in Dubai?
ACCA professionals earn lucrative salary packages in Dubai, with an average annual salary of AED 91,000 (Rs. 20,48,097).
How much can ACCA earn in UAE?
ACCA certificate holders earn premium packages in the UAE, depending on the industry type and years of experience. For example, the average monthly compensation of an Accountant in the UAE is AED 5,000 (Rs. 1,12,696).
Is ACCA worth it in Dubai?
With so many big corporations in Dubai, the availability of accounting-related jobs is ample. Besides job availability, top amenities like tax waivers and a high standard of living make Dubai an excellent place for an ACCA professional to work.
What is the starting salary of ACCA?
The starting salary of an ACCA professional in Dubai is around AED 2500 (Rs. 56,359) to AED 3000 (Rs. 67,631).