Though these are uncertain times, one thing that remains constant is the high demand for accountancy and finance professionals - worldwide.
An ACCA qualified salary
The ACCA offer one of the leading accountancy qualifications out there. Not only does it open doors to careers in chartered accounting, but ACCA-qualified students can work in many other areas of finance.
Some of these are: banking, auditing, financial consulting, taxation and law, as well as other general areas of business management.
Right now its a candidates market, so you may be able to search around for the best salaries
Undoubtedly there is money to be made, but take everything into consideration when deciding on a new role. You must always be mindful of what's important beyond the pay cheque.
Here is an overview of potential salaries that ACCA members typically earn.
Trainee accountants
Many trainee accountants study ACCA while on the job.
The salaries and packages on offer, to trainee accountants, can vary by region, and tend to reflect the cost of living. It's also worth considering that there are quite a few countries that offer exceptional salary packages due to their tax benefits.
As an example, the top 100 accountancy firms tend to offer salary packages that are reflective of the country in which an employee is working, in line with factors such as living expenses.
Countries such as Gibraltar and Dubai, for instance, are keen to attract new accountancy talent and the large tax benefits on offer mean they can be attractive to accountants seeking their first role.
Typical UK trainee accountant salary: £19,000 - £27,000 (Source: Total jobs)
Certified chartered accountant
Many who complete the full ACCA qualification go on to become Certified Chartered Accountants.
The starting salary can vary, depending on the location and size of the company, the sector, and any other qualifications.
Once qualified, salaries can start at £25,000 and can increase to £45,000 (senior accountant roles).
Once you've built up significant experience, however, your salary can rise to in excess of £100,000 (for director level role).***
Starting salaries for the corporate sector and public practice are usually higher than in the public sector. Salaries are also generally higher for chartered certified accountants working in banks and insurance companies.
For bonuses, they vary due to the company but tend to be more common in financial services and the corporate sector.
Typical ACCA qualified careers in the UK (average salaries):
- Banking - 25-30k
- Auditing - 23-35k
- Financial consultant - 45-50k
- Taxation - 25-40k
- Business management - 29-60k
(Source: Glassdoor.co.uk & totaljobs.co.uk)
Average UK ACCA salary overall is £35k-58k (Source: Totaljobs)
For a full breakdown, by region, see the Robert Walters 2020 Global Salary Survey.
The world is open to you
In addition to a healthy salary and a wide range of career options, ACCA students can: use the ACCA letters after their name, receive accounting and finance knowledge, and gain valuable skills in management and strategy.
The flexibility of the course and the wide range of skills gained also means that ACCA careers have the potential to take you to many levels of seniority, over time.
We hope this gives you an idea of the potential career you can have, and the salary you may expect, after becoming ACCA qualified.
*https://www.accaglobal.com/an/en/student/sa/features/2019-trends.html
**https://www.accaglobal.com/an/en/student/sa/features/what-salary-should-you-be-earning-.html
***https://www.prospects.ac.uk/job-profiles/chartered-certified-accountant