ACCA Salary In UK: Jobs, Skills, Recruiters

ACCA (Association of Chartered Certified Accountants) is a global professional organisation for accountants. Accountants specialise in accounting, maintaining financial books and statements and skills like planning, budgeting, and decision-making. Chartered Accountants have high earning potential, plenty of career growth opportunities, global recognition, and job security. The average ACCA Salary in UK is £48,500 (48 lakhs INR) per year.

Factors like experience, qualification, industry, location, and organisation affect the salary of ACCA professionals in the UK. PwC, Deloitte, EY, KPMG, and Grant Thornton are some of the top companies that hire chartered accountants in the UK. A chartered accountant must cope with a high-pressure environment, rapidly changing industries, and the risk of handling a company’s finances.

Table of Contents:

• Chartered Accountant Career in the UK 
• Average ACCA Salary in UK
• Factors affecting ACCA Salary in UK
• Certifications to Improve Accountant Salary In UK
• Top Companies Who Hire Chartered Accountants in UK
• Conclusion
• Frequently Asked Questions

Chartered Accountant Career in the UK

A chartered accountant (CA) is highly skilled in accounting, auditing, taxation, financial reporting, and advisory. Chartered Accountants are required in public accounting firms, financial institutions, government agencies, and private businesses. They take care of the company’s financials and compliance with the laws and regulations.

The Association of Accounting Technicians (AAT) is a professional body that provides accounting and finance qualifications to professionals. Those who want to become a CA can take membership in AAT. Accountants who are regulated by professional bodies like ACCA, CAI, CIMA, CIPFA, ICAEW, and ICAS are called Chartered Accountants. To become a CA, you have to pass a series of accredited exams, show relevant work experience, and have a bachelor's degree in accounting.

Some of the ACCA jobs in UK other than chartered accountants include:

• Audit and Accounts Manager
• Financial Analyst
• Tax Manager
• Management Accountant
• Financial Controller
• Finance Advisor

Average ACCA Salary in UK

ACCA jobs in London get paid the highest salary in the UK. The average ACCA salary in UK is £33,120 per year based on 1.3K reported salaries. In Ireland, they get paid a slightly higher salary of £33,830 per year. Other than the salary they also have several benefits like pension, healthcare, bonus, life insurance, and leisure facilities. An ACCA trainee gets an average salary of around £19,300 per year. A partly-qualified ACCA professional gets £25,800 per year on average. ACCA finalists can get a gross salary of nearly £30,700 a year.

Factors affecting ACCA Salary in UK

Let us look at the important factors below that affect the ACCA salary in UK.

Experience

As we know, more the experience higher the salary. Expertise plays an important role in planning strategic financial advice for organisations. The skills required to handle a company’s accounting only come with experience.

Skills

Graduation alone isn't going to take you anywhere. The most important part of working as a CA is having the required skills. Financial Reporting, Auditing, Analysis, Account Management, Tax Compliance and Consulting, Budget Management, and Payroll Administration are some of the important skills required by a CA.

Location

As different cities have varied costs of living, the salary also is likely to differ. Cities like London and Manchester offer higher salaries as their cost of living is higher.

Qualifications

Professionals holding relevant qualifications get paid better salaries compared to those without them. The qualifications help you to prove to the recruiters that you are qualified to perform the given responsibilities. Some of the qualifications given by the authorized bodies are Chartered Certified Accountant, Chartered Management Accountant, Associate Chartered Accountant, and Chartered Accountant.

Specialisations

There are several jobs where the ACCA certification is useful. A company hires ACCA-certified professionals in many job roles. According to recent trends, these specialisations will help ACCA professionals earn better salaries in the UK.

• Auditor
• CFO
• Risk Manager
• Financial analyst
• Forensic accountant
• Management accountant
• Tax Manager
• Treasury Manager

Certifications to Improve Accountant Salary In UK

Regulatory bodies provide certifications to accountants based on their skills and potential. You can get additional certifications by writing certain exams which can be used to enhance your remuneration. Different certifications have different values and pay packages. The estimated annual salary in the UK for different chartered accountant certifications are as follows - 

1. Chartered Institute of Management Accountants (CIMA) - £25,000 to £85,000 per year
2. Institute of Chartered Accountants in England and Wales (ICAEW) - £26,000 to £120,000 per year
3. Certified Public Accountant (CPA) - £30,000 to £100,000 per year
4. Chartered Financial Analyst (CFA) - £40,000 to £120,000 per year 
5. Financial Risk Manager (FRM) - £40,000 to £100,000 per year

Top Companies Who Hire Chartered Accountants in UK

The starting salary of an Entry Level ACCA job in UK is £21,700 per year according to Talent.com. PwC, Deloitte, KPMG, and EY, are the Top Recruiters for Chartered Accountants in the UK providing salaries ranging from £45,000 to £65,000 per year. Indians can do accounting jobs in UK if they have ICAI (Institute of Chartered Accountants of India). UK companies provide much higher salaries compared to Indian companies. Chartered Accountants can find jobs in multinational accountancy firms in UK that offers attractive salary packages and excellent career growth opportunities.

Conclusion

ACCA-certified professionals are paid a salary of £48,500 per year on average. The experience, skills, qualifications, and specialisations of the candidate are factors that affect the salary of ACCA jobs. Data suggests that eighty thousand jobs will be available for ACCA professionals in the next 3 decades. Accordingly, the demand for ACCA jobs is expected to rise. Job seekers must be well qualified and skilled to face the competition. Improve your network and find out high-growth industries to make a promising career. Hope this blog helped you to explore the ACCA salary in UK in detail.

Frequently Asked Questions

1. How much does an ACCA earn in UK?

The average salary for ACCA jobs in UK is £52,500. The salary of ACCA jobs in the UK varies across industries and locations.

2. Is ACCA in demand in UK?

The UK will create at least 80,000 accounting jobs in the next 30 years. This indicates a surge in the demand for ACCA-certified professionals. As this is a competitive field, you need to be well-qualified to get a job and better wages.

3. In which country is ACCA highly paid?

The USA is one of the countries paying high compensation for ACCA jobs with salaries ranging from Rs. 29 lakhs to Rs. 88 lakhs per year. The UK provides the second-highest salary for ACCA jobs.

4. Is ACCA worth it in UK?

An ACCA certification indicates that you have the skills, knowledge, and values to lead an organisation. It shows potential employers that you have accounting work expertise and are a committed professional. This will increase your chance of securing a high-paying job.

5. Can an Indian ACCA get a job in UK?

ACCA-certified Indians can easily secure a job in the UK as the certification is recognised worldwide. You can get jobs like Accountant, Financial Advisor, Management Consultant, Financial Analyst, Corporate Treasurer, etc.