ACCA Salary in India: Salaries & Career Scope | Zell

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      ACCA Salary in India: ACCA Salaries Worldwide and Career Scope

      Last Update On 3rd July 2024
      Duration: 9 Mins Read

      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 considering pursuing ACCA may still have doubts about the scope in India and other countries. If you are looking for more information about the scope and the Acca salary in India and other countries, here are some insights.

      ACCA Certification And Its Importance

      The ACCA (Association of Chartered Certified Accountants) certification is a globally recognized credential in accounting and finance, valued for its comprehensive curriculum and emphasis on professional ethics. It covers key areas such as financial and management accounting, taxation, audit, and strategic business management, ensuring a well-rounded expertise. ACCA’s flexibility, with multiple exam sittings per year, allows candidates to balance their studies with professional commitments. Additionally, the requirement of three years of practical experience ensures that members possess both theoretical knowledge and practical skills. ACCA-certified professionals enjoy enhanced career opportunities, higher earning potential, and global mobility, making it a prestigious and versatile qualification for those aspiring to excel in the finance and accounting industry.

      Acquired Skills Through ACCA

      Financial Reporting and Analysis:

      • Proficiency in preparing and interpreting financial statements according to international accounting standards.
      • Ability to analyze financial performance and make informed decisions based on financial data.

      Management Accounting:

      • Skills in budgeting, forecasting, and cost management to support business planning and performance evaluation.
      • Expertise in financial decision-making techniques such as variance analysis and investment appraisal.

      Auditing and Assurance:

      • Knowledge of auditing principles and practices to evaluate financial records and ensure accuracy and compliance.
      • Capability to conduct internal and external audits, assess risks, and provide assurance on financial information.

      Taxation:

      • Understanding of tax regulations and their application to individuals and businesses.
      • Skills in tax planning and compliance to optimize tax liabilities and ensure adherence to legal requirements.

      Financial Management:

      • Competence in managing financial resources, including working capital management, capital structure, and investment decisions.
      • Ability to analyze financial risks and develop strategies to mitigate them.

      Ethics and Professionalism:

      • A strong grounding in ethical principles and professional conduct.
      • Commitment to maintaining integrity and upholding ethical standards in all professional activities.

      Strategic Business Leadership:

      • Strategic thinking and leadership skills to drive business growth and success.
      • Ability to develop and implement business strategies, manage change, and lead teams effectively.

      Global Perspective:

      • Understanding of global business environments and international financial regulations.
      • Ability to apply international accounting standards and practices in diverse settings.

      Communication and Interpersonal Skills:

      • Proficiency in communicating complex financial information clearly and effectively.
      • Strong interpersonal skills to collaborate with colleagues, clients, and stakeholders.

      Problem-Solving and Analytical Skills:

      • Critical thinking and analytical abilities to identify and solve financial and business challenges.
      • Competence in using data and evidence to support decision-making processes.
      • These skills make ACCA professionals highly versatile and valuable in various roles across industries, enabling them to contribute effectively to their organisations and advance their careers in finance and accounting.

      ACCA Salary in India Based on 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. 

      1. Entry Level – INR 2 – 3.9  lacs per annum
      2. Mid Senior Level – INR 11.3 lacs per annum
      3. Senior Level – INR 16 lacs per annum

      Please note: These salaries are relevant to 2024 and may be 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 Based on Job Roles

      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 average annual salary ₹11.1 lacs per annum as per the Ambition Box. Let’s take a look at the salaries that can be expected after completing ACCA.

      ACCA Salary

      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

      Job Title

      Range Average

      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

       

      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 blog on the US CPA course for more details.

      ACCA Salaries you can expect to earn in these countries are stated as follows:

      acca salary

      1. ACCA Salary in Australia

      In Australia, the Certified Practicing Accountant (CPA) Australia and the Institute of Public Accountants recognise professionals with ACCA degrees. Moreover, if an international ACCA member wishes to gain membership in the Institute of Public Accountants, they can do so by clearing the Australian Tax and Law exams. Here are the average salaries that Chartered Accountants earn in Australia. 

      • Entry Level – AUD 50,000 and AUD 70,000 per year
      • Mid Senior Level – AUD 80,000 and AUD 120,000 per year
      • Senior Level – AUD 150,000 per year

      2. ACCA Salary in Canada

      While the ACCA qualification is not officially recognised as a Chartered Accountant qualification in Canada, it can help you land jobs in the finance and accounting sectors. Moreover, the ACCA qualification is equivalent to a three-year degree in Canada, which means you can apply for a master’s degree based on 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 40,000 to CAD 60,000  per year
      • Mid Senior Level – CAD 65,000 and CAD 90,000  per year
      • Senior Level – Upwards of CAD 100,000  per year

      3. ACCA Salary in the 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 the 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 – £25,000 to £35,000 per year
      • Mid Senior Level – £40,000 and £60,000 per year
      • Senior Level – £65,000, often exceeding £100,000

      4. ACCA Salary in Switzerland

      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  per year
      • Mid Senior Level – CHF 117000  per year
      • Senior Level – CHF 155000+  per year

      5.  ACCA Salary in the UAE

      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 salaries that can be expected by ACCA-qualified Chartered Accountants in the UAE are as follows. 

      • Entry Level – AED 120,000 to AED 150,000 per year
      • Mid Senior Level – AED 180,000 and AED 240,000 per year
      • Senior Level – AED 250,000 upwards, potentially exceeding AED 350,000 per year

      6.  ACCA Salary in 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  per year
      • Mid Senior Level – HKD 22,800  per year
      • Senior Level – USD 31,900  per year

      7. 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 – €30,000 and €40,000 per year
      • Mid Senior Level – €45,000 and €65,000 per year
      • Senior Level – €70,000 to over €100,000 per year

      Factors Influencing the Salary of ACCAs in India

      Experience:

      Entry-Level: Fresh ACCA graduates typically start with lower salaries, which increase significantly with experience.

      Mid-Level: Professionals with 3-5 years of experience can expect substantial salary hikes as they gain expertise and take on more responsibilities.

      Senior-Level: Seasoned professionals with over 10 years of experience command higher salaries due to their extensive knowledge and leadership roles.

      Industry:

      Finance and Banking: ACCAs working in high-demand sectors like finance, banking, and investment management usually earn higher salaries.

      Consulting and Auditing: Professionals in top consulting and auditing firms often receive competitive compensation packages.

      Corporate Sector: ACCAs in multinational corporations (MNCs) and large Indian companies may have better-earning potential compared to those in smaller firms.

      Geographic Location:

      Metropolitan Cities: Salaries tend to be higher in major cities like Mumbai, Delhi, Bangalore, and Chennai due to the higher cost of living and concentration of multinational firms.

      Tier-2 and Tier-3 Cities: Salaries may be lower in smaller cities and towns.

      Educational Background and Additional Qualifications:

      Additional Certifications: Holding other professional qualifications like CFA, CPA, or MBA can enhance earning potential.

      Educational Institution: Graduates from prestigious institutions may receive higher starting salaries due to the perceived quality of education.

      Job Role and Responsibilities:

      Specialized Roles: Positions in niche areas such as forensic accounting, risk management, and strategic financial planning often offer higher pay.

      Leadership Positions: Managerial and executive roles, such as CFOs and financial directors, attract higher compensation due to their strategic importance to the organization.

      Company Size and Reputation:

      Large Corporations and MNCs: Bigger companies typically offer better salary packages and benefits compared to smaller firms.

      Reputation and Financial Health: Working for well-known and financially stable companies can result in higher salaries.

      Performance and Achievements:

      Performance-Based Incentives: Bonuses, profit-sharing, and performance incentives can significantly boost an ACCA’s earnings.

      Professional Achievements: Recognition, awards, and successful projects can lead to salary increases and promotions.

      Demand and Supply:

      Market Demand: High demand for skilled ACCA professionals in certain industries or regions can drive up salaries.

      Availability of Talent: A shortage of qualified professionals can lead to competitive salaries to attract and retain talent.

      Economic Conditions:

      Economic Growth: A thriving economy can lead to higher salaries as companies expand and seek more skilled professionals.

      Inflation: Salary adjustments may occur to keep up with the cost of living and inflation rates.

      Negotiation Skills:

      Negotiating Power: Effective negotiation during hiring or performance reviews can result in better salary packages.

      By understanding these factors, ACCA professionals can strategically navigate their career paths to maximize their earning potential in India.

      ACCA Salary in Big 4

      Deloitte:

      Entry-Level: ₹6-8 lakhs per annum

      Mid-Level: ₹12-15 lakhs per annum

      Senior-Level: ₹20-25 lakhs per annum

      KPMG:

      Entry-Level: ₹6-7 lakhs per annum

      Mid-Level: ₹11-14 lakhs per annum

      Senior-Level: ₹18-24 lakhs per annum

      EY:

      Entry-Level: ₹6-7 lakhs per annum

      Mid-Level: ₹11-13 lakhs per annum

      Senior-Level: ₹19-22 lakhs per annum

      PWC:

      Entry-Level: ₹6-8 lakhs per annum

      Mid-Level: ₹12-15 lakhs per annum

      Senior-Level: ₹20-25 lakhs per annum

      Conclusion

      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 Zell Education’s Association of Chartered Certified Accountants (ACCA) course to learn more.

      FAQ’s on ACCA Salary in India:

      Which Country Gives the Highest ACCA Salary?

      Countries like Switzerland, the United States, and the United Kingdom are known to offer the highest salaries for ACCA professionals, with compensation packages significantly higher than those in India.

      Who Earns More, ACCA or CS?

      In general, ACCA professionals tend to earn more than Company Secretaries (CS), especially when considering international opportunities and the versatility of roles available to ACCAs in finance, accounting, and management.

      Is ACCA Highly Paid?

      Yes, ACCA professionals are considered highly paid, particularly when they gain substantial experience and work with prominent firms or multinational companies. Their international qualification allows them to explore high-paying opportunities globally.

      What is ACCA Salary in India?

      In India, ACCA salaries range from ₹6-25 lakhs per annum, depending on factors such as experience, industry, job role, and the specific employer. Entry-level ACCAs start around ₹6-8 lakhs, while senior-level professionals can earn up to ₹25 lakhs or more annually. Source

       

      Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.

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