ACCA Salary in UK 2024

Introduction

The Association of Chartered Certified Accountants (ACCA) is a globally recognised professional body which allows you to pursue a career in finance and accounting. By becoming a member of ACCA, you can work as a CA in UK. International Students often wonder the ACCA salary in the UK. 

This blog provides many details about ACCA such as jobs available, salary, factors and certifications. So, without waiting any further, jump into this blog.  

ACCA in UK 2024

The Association of Chartered Certified Accountants (ACCA) is a globally recognized professional accounting body based in the UK. It offers the Chartered Certified Accountant qualification, which is valued by employers worldwide. The qualification covers topics such as accounting, finance, and business. After completing this qualification, you can work in the fields of accounting, taxation, consulting, and auditing. Once you become an ACCA member, you need to adhere to high ethical standards. 

Jobs for ACCA in the UK

After completing the ACCA qualification, you will land various high-paying jobs. Here are some of the best jobs you can pursue after studying in the UK:

1. Financial Accountant: Being a Financial Accountant, you will be the backbone of an organization's financial health and responsible for recording and analysing financial data to ensure accurate reporting and responsible decision-making. Moreover, you will perform financial analysis to identify trends and make recommendations.
    
2. Audit Manager: Another job you can pursue after ACCA qualification is of an audit manager. In this job role, you will be responsible for overseeing and managing the audit process within an organization. Further, as a senior accounting professional, you will be leading and managing audit teams. 
    
3. Tax Advisor: If you choose to specialise in taxation, you will become a tax advisor, and your work will be to help businesses navigate the complexities of tax law. Apart from this, you will also have to submit tax returns, calculate tax liabilities, and keep accurate tax records. 
    
4. Financial Analyst: As a financial analyst, you will be responsible for analysing financial data and making recommendations based on that analysis. You will also collect and analyse financial data from various sources, including financial statements, market trends, economic forecasts, and company reports.
    
5. Risk Manager: As a risk manager, your role will be to identify, assess, and mitigate risks that can potentially impact the organisation’s assets and operations. 
    

Salary after ACCA in UK

After knowing about the jobs, let’s see what’s the ACCA salary in the UK. The ACCA salary in the UK will depend on various factors such as experience, location, and industry. However, the average salary of ACCA in the UK is CAD 36000 per year. There are three types of levels in ACCA: Entry-level, Mid-level and Senior-level. Your salary will increase when you reach a higher level. Finance, consulting, and banking are the industries that can offer a high ACCA salary in the UK. Moreover, you can also do extra certifications and qualifications to get better packages. 

Factors Affecting ACCA Salary in the UK

Now you know what is the ACCA salary in the UK, but don’t you want to know what factors affect the same? You can use these factors in your favour to get a higher salary. Let’s see what factors affect ACCA salary in the UK:

1. Experience: In any industry, more experience means more salary. The same goes with ACCA. Expertise in your field can lead to higher salaries. 
    
2. Skills: This goes without saying. Having the required skills and some extra ones shows that you will be able to do your work efficiently and effectively. Some of the skills you must have, to work as a CA, are Financial Reporting, Account Management, Auditing, Analysis and Tax Compliance. 
    
3. Qualifications: Professionals who have extra qualifications can get higher ACCA salaries in the UK. By doing qualifications such as Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) you can prove that you qualify for the role. 
    
4. Specialisations: An ACCA salary in the UK also depends on the type of specialisation pursued. According to recent trends in the UK, some of the best specialisations for increasing salary as an ACCA are Taxation, Financial Management, Performance Management and Financial Reporting.
    

Certifications to Improve Accountant Salary in the UK

Regulatory bodies provide various certifications to accountants based on their skills and potential. You can pursue these certifications and increase your remuneration:

1. Chartered Institute of Management Accountants (CIMA): This certification is designed for individuals pursuing a career in management accounting and financial management. After completing this certification, you can work as a Management Accountant, Financial Analyst, Finance Manager and Financial Controller.
    
2. Certified Public Accountant (CPA): Another certification is CPA, which is a globally recognised qualification in the field of accounting. Under CPA, you can specialise in areas like Taxation, Auditing and Assurance, Management Accounting and Forensic Accounting. 
    
3. Chartered Financial Analyst (CFA): The CFA program is considered one of the most rigorous qualifications in the field of finance and investment management. After completing this qualification, you can work as a Portfolio Manager, Investment Analyst, Financial Analyst, Risk Manager and Corporate Finance Manager. 
    
4. Institute of Chartered Accountants in England and Wales (ICAEW): The ICAEW is a widely recognised qualification in the accounting and finance industry. It provides the necessary skills to make a career in accounting, finance, and business. With this qualification, you can pursue jobs such as Audit Manager, Financial Controller, Tax Consultant, Management Accountant and Financial Analyst. 
    
5. Financial Risk Manager (FRM): If you want to enhance your expertise in risk management, this qualification is perfect for you. After completing this certification, you can work as a Risk Manager, Risk Analyst, Compliance Officer and Investment Analyst. 
    

Conclusion 

The ACCA qualification unlocks a world of opportunity in the UK's dynamic financial sector. With a competitive starting salary and significant growth potential, a career as an ACCA member offers a compelling return on investment. This blog delved into the different ACCA jobs in the UK, ACCA salary in the UK, factors affecting salary and certifications to pursue. By continuously developing your skills and experience, you can reach senior positions and grab better packages. So, if you're looking for a challenging and rewarding career path, pursuing your ACCA qualification is an excellent first step. Reach out to Canam experts to study accounting in the UK.