Much importance is attached to the salary that goes with ACCA by potential accountants as well as finance people. ACCA continues to stand tall in the accounting world as one of the most revered qualifications. In doing this, ACCA has achieved huge career prospects along with the global recognition of the curriculum. Whatever the reason, whether in India or abroad, this does represent an overwhelmingly competitive salary package and a position in top companies, where you are deemed worthy of carrying the mantle of an accountant. This article shall elucidate the ACCA course, why many go for it, and also what kind of salary range can be expected with this august qualification.
What is the ACCA Course?
ACCA is the most prestigious accounting qualification recognized globally. The course equips students with knowledge and skills for superior achievement in financial management, taxation, auditing, and other key aspects of accountancy. ACCA courses are renowned for providing a complete curriculum that encompasses all aspects of finance and accounting, which is the preference for ambitious students who want to become chartered accountants.
Key Features of the ACCA Course
- Global Acceptance: ACCA is accepted in more than 180 countries across the globe, from India to the UK, and to the UAE, making it one of the premier accounting certifications that is recognized and sought after.
- Flexible Time: It has an appropriate examination structure with flexible time. ACCA offers 13 exams, and that means a student can take exams at his or her own pace. This is very convenient for a student to manage both studies and professional work simultaneously.
- Wide Curriculum: The course will take into account a wide range of subjects ranging from financial accounting to management accounting, business law, and ethics that would give the profession a holistic outline of understanding about the profession.
- Professional Experience Requirement: ACCA requires every candidate to have at least 3 years of relevant work experience which ensures that these individuals are not only heavily equipped with theoretical knowledge but also with relevant experience.
Why Do People Choose ACCA?
There are multiple reasons why students opt for ACCA, mainly under the banner of international recognition and diversified career opportunities offered globally. The ACCA qualification is extremely popular for laying down proper foundations in the career path in finance and accounting besides other sectorial fields.
- Global Opportunities: ACCA is accredited in more than 180 countries and also affords an opportunity to work anywhere across the world from India to Europe and the Middle East.
- Professional Flexibility: ACCA professionals can seek employment in any industry including banking, finance, auditing, and consulting. This qualification ensures that you are not tied to a specific career.
- High earning potential: Generally, ACCA professionals earn better salaries than non-certified accountants, thus offering a high earning potential for whoever wants to pursue a career in the same field.
- Very comprehensive in terms of skill development: The ACCA curriculum would include well-balanced study material on auditing, financial management, and law that would help in developing overall skills.
- Networking Opportunity: ACCA offers membership, which provides you with a different network of professionals and industry experts to help you achieve powerful connections at any level in your career.
ACCA Salary
ACCA salary is the most common question that students and professionals want to know. ACCA Professionals get remunerations that differ according to location, industry, and experience, but they also vary in a bid for competitiveness due to qualification global recognition, and rigorous training.
ACCA Salary for Entry-Level Positions
- India: A direct-hire ACCA holder would expect a salary ranging from ₹5,00,000 to ₹7,00,000 every year, but this may depend on the city, company, and candidate’s experience.
- UK: ACCA practitioners in the UK, £25,000 to £35,000 per year, with the remuneration depending on years of experience.
- Middle East: The remuneration for newly qualified ACCA professionals in countries like UAE will range between AED 90,000 and AED 120,000 per annum.
ACCA Salary for Mid-Level and Senior Positions
- India: The minimum starting salary received by ACCA professionals in India after 3-5 years of experience in the industry is ₹8,00,000 – ₹12,00,000. After some key positions, it increases to ₹20,00,000 or more based on the industry.
- UK: Between £45,000 and £60,000 for mid-level ACCA professionals and upwards of £80,000 for senior professionals.
- Middle East: ACCA professionals at a senior level working in the UAE command up to AED 300,000 and more per annum.
Factors Affecting ACCA Salary
- Geography: ACCA professionals have varying pay bundles as dictated by the country to work. Salaries in developed countries such as the UK and Australia, for instance, and even countries like the Middle East, are pretty much on a higher plane.
- Industry: ACCA-holder professionals are paid substantially more, particularly in the case of people working for banks, consultancy firms, and employees in multinational firms, than a smaller firm or a non-profit organization.
- Experience: It is a no-brainer that experience plays a crucial role in determining salary like every other profession. Mid and senior-level ACCA professionals can easily earn much more money than the entry-level ones.
ACCA: Scope, Jobs, & Career Opportunities
The ACCA program offers a wide range of fields of coverage, providing more opportunities with the ACCA qualification. Professionals from various sectors are equipped to work in auditing, tax, management accounting, and financial consulting. It opens one’s door to various career opportunities in the public and private sectors and in organizations from start-ups to multinational corporations.
Career Paths for ACCA Professionals:
- Auditor: ACCA professionals can be internal or external auditors to the organizations where they work, ensuring that companies comply with the guidelines of financial regulations.
- Taxes/ Tax Consultants: ACCA professionals could specialize in tax laws and regulations, advising taxpayers about this.
- Financial Analyst: ACCA professionals can analyze information related to financial data so that businesses can have informed opinions in the organization.
- Risk Manager: Among the roles that an ACCA professional would be expected to perform is the role of managing risk in financial decisions, particularly in large corporations and financial institutions.
- Management Accountant: ACCA professionals may be used in-house in the organization to assist with budgeting, forecasting, and even strategic planning.
Industries ACCA Professionals Work In
- Banking and Financial Services
- Auditing and Consulting Firms
- Multinational Corporations
- Public Sector
- Investment and Asset Management
Global Scope
- ACCA is recognized in over 180 countries, thus professionals are allowed to work internationally.
- ACCA qualification is accepted in key markets such as the UK, UAE, Australia, and Canada, which makes it one of the most versatile certifications in the accounting profession.
Importance of ACCA in India
ACCA thus continues to gather pace in India as more and more bodies realize it is valid not only internationally but of an extremely high standard. The country has vast numbers of multinational corporations, consulting firms, and financial institutions with a fast-increasing demand for qualifying accounting professionals such as ACCA holders.
- International Opportunities: The ACCA qualification is highly accessible to Indian professionals and is a passport to employment opportunities not only in India but also in other significant markets around the globe.
- International Standards: The curriculum is in line with the international standards of accountancy so that it can benefit companies with international portfolios to their maximum.
- Growing Demand: Many other companies are entering the global markets as the Indian economy is expanding; the demand for ACCA-qualified professionals is on the rise, particularly in areas of audit, financial analysis, and taxation.
- Recognition by Indian Firms: Many top Indian firms, mainly from the financial and consulting sectors, recognize the ACCA qualification, thus giving the members of ACCA a competitive advantage in the job market.
- Flexible Education Path: The flexible exam structure, followed by the ACCA, allows students in India to study along with existing work and family commitments while creating a wide option for learners.
Conclusion
In a nutshell, ACCA is one of the highly opted qualifications undertaken by a large number of aspiring professionals concerning a successful career in finance and accounting. Undoubtedly, the prospects of salary through the employment portals of ACCA are very lucrative, allowing entry-level professionals to draw fairly competitive packages and seniors to garner handsome salaries. Its prestige, globally earned, vast range of curriculum, and diversified career opportunities make it a golden qualification in India and even worldwide. Whether you’re considering an auditing career, specializing in taxation, or seeking a financial consulting career, ACCA can place you on your road to a satisfying career.
