Table of Contents
- Scope of ACCA in the UK
- ACCA Jobs in the UK with Average Annual Salary
- Best Cities to Work in As an ACCA Professional in the UK
- Top UK-Based Recruiters for ACCA
- Necessary Skills Required to Practice ACCA in the UK
- Top Certifications to Boost Accountant Salaries in the UK
- CA vs ACCA Salary in the UK
- ACCA Jobs: UK vs. India – Which Is Better
- Summary
- FAQs
As an ACCA-qualified professional in the UK, you can enjoy job security, diverse career opportunities, and competitive pay. The ACCA qualification is globally recognized and offers a wide range of roles in accounting and finance, helping you advance your career by showcasing your skills and expertise.
The ACCA salary in the UK per month is approximately £3,887, while the ACCA salary in the UK per hour stands at £23.04. This competitive remuneration reflects the value of the qualification in the financial industry. Dive in to see the average annual ACCA Salary in the UK catering to different job roles and how ACCA can elevate your career in one of the world’s leading financial hubs.
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Scope of ACCA in the UK
The Association of Chartered Certified Accountants (ACCA) offers a wide array of career opportunities in the UK, ranging across various sectors, promising strong job prospects and competitive salary packages. The recognition and versatility of ACCA make it a valuable qualification for those seeking to advance their careers in finance and accounting. The average ACCA salary in the UK in rupees ranges from approximately ₹26,22,000 to ₹62,00,000, depending on experience and specialization.
As an ACCA-qualified professional, you have numerous career paths to pursue, such as a Financial analyst, Management Accountant, Auditor, and more.
ACCA Jobs in the UK with Average Annual Salary
As transitioning into the ACCA field provides you with various career paths, here are some of the ACCA Jobs in the UK with their average annual salary that you can pursue as a qualified professional:
Job | Job Role | Annual Salary |
Management Accountant | As a Management Accountant, you are responsible for providing essential financial analysis and planning services to organizations. | £50000 – £60000 |
Financial Controller | As a Financial Controller, you will oversee an organization’s accounting operations, ensuring that accurate financial reporting and compliance are maintained. | £50000 – £55000 |
Indirect Tax Manager | As an Indirect Tax Manager, you will be ensuring compliance with tax laws and identifying financial risks. | £78000 – £83000 |
Commercial Finance Analyst | As a Commercial Finance Analyst, you will be conducting in-depth financial analysis to support strategic decision-making. | £45000 – £50000 |
Audit Assistant Manager | As an Audit Assistant Manager, you will be supervising multiple audit assignments and ensuring compliance with relevant standards and regulations. | £54000 – £62000 |
Revenue Accountant | As a Revenue Accountant, you will be tracking and managing an organization’s revenue streams, ensuring the accuracy of financial reporting. | £55000 – £60000 |
Development Accountant | As a Development Accountant, you will play a key role in helping organizations manage their finances during growth phases. | £55500 – £60500 |
Senior Finance Manager | As a Senior Finance Manager, you will be taking on leadership roles, overseeing budgeting, forecasting, and financial strategy. | £75000 – £85000 |
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Best Cities to Work in As an ACCA Professional in the UK
The best cities for ACCA professionals in the UK combine high salary potential, abundant job opportunities, and a conducive work environment. The following are cities with the average ACCA Salary in the UK:
Cities | Why They Are Popular | Average Salary |
London | London, the financial capital city, benefits from a vast array of job opportunities in finance and accounting, hosting numerous global firms and financial institutions. | £52,500 |
Manchester | A city with a thriving business scene with accounting firms and multinational corporations boasts a strong financial sector. | £42,500 |
Cardiff | Cardiff offers a perfect balance of quality of life and career opportunities for ACCA professionals. The average accountant salary in Cardiff is above the UK national average, with a reasonable cost of living compared to bigger cities. | £37,500 |
Birmingham | As the second-largest city in the UK, Birmingham has a robust financial sector with various job opportunities for ACCA professionals. The city combines career potential with a relatively lower cost of living compared to London. | £42,500 |
Edinburgh | Edinburgh’s reputation as a financial hub makes it an attractive location for accounting professionals. This is notable for its high quality of life and competitive salaries. | £47,500 |
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Top UK-Based Recruiters for ACCA
The following are some of the best recruiters for ACCA jobs in the UK:
BDO UK – | BDO UK is a public accounting, tax, and advisory firm that offers a range of services, including audit, assurance, tax, advisory, and business outsourcing. |
Azets – | Azets is an international business services company that helps businesses of all sizes achieve their goals by providing accounting, tax, audit, advisory, and payroll services. |
Menzies LLP – | Menzies LLP is an accountancy and business advisory firm that offers a variety of services like financial planning, audit and tax advice, financial planning, and more. |
Morgan Stanley – | Morgan Stanley is a global financial services firm that offers a range of services to institutions, governments, families, and individuals. |
Alter Domus – | Alter Domus is a company that helps businesses with alternative investments by providing administrative and technology services. |
Lloyds Banking Group – | Lloyds Banking Group is a company that offers financial services to retail and commercial customers. |
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Necessary Skills Required to Practice ACCA in the UK
Practising as an ACCA (Association of Chartered Certified Accountants) professional and securing a high ACCA salary in the UK requires a diverse set of skills, blending technical expertise with interpersonal and strategic capabilities. ACCA members are expected to remain adaptable and knowledgeable about the ever-evolving financial environment.
The following are necessary for you can develop and secure a high ACCA salary in the UK:
- Technical Expertise
As technical knowledge is vital in accounting, ACCA professionals should continuously build their technical knowledge in accounting, finance, and auditing.
- Practical Experience
To practice ACCA in the UK, you must complete a minimum of 3 years of relevant practical experience in finance or accounting roles. The practical knowledge allows you to apply theoretical knowledge and develop professional skills in a real-world environment.
- Strong Communication Skills
You must possess exceptional communication skills to convey complex financial information effectively. This skill set enhances collaboration and effectiveness in team-based settings.
- Analytical Skills
Developing analytical skills is necessary as these skills allow you to interpret and communicate accurate financial information.
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Top Certifications to Boost Accountant Salaries in the UK
Accounting professionals in the UK can significantly enhance their earnings by obtaining specialized certifications. These credentials, awarded by respected regulatory bodies, validate your skills and expertise, opening doors to better job opportunities and higher salaries. Here’s a breakdown of top accounting certifications and their potential annual earnings:
- Chartered Institute of Management Accountants (CIMA): £25,000 to £85,000
- Institute of Chartered Accountants in England and Wales (ICAEW): £26,000 to £120,000
- Certified Public Accountant (CPA): £30,000 to £100,000
- Chartered Financial Analyst (CFA): £40,000 to £120,000
- Financial Risk Manager (FRM): £40,000 to £100,000
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CA vs ACCA Salary in the UK
If you’re considering a career in accounting, understanding the salary prospects of CA (Chartered Accountant) and ACCA (Association of Chartered Certified Accountants) qualifications is key. Here’s a detailed comparison of salaries and other key differentiators between CA and ACCA professionals in the UK:
Aspect | Chartered Accountant (CA) | Association of Chartered Certified Accountants (ACCA) |
Annual Average Salary | £84,500 | £48,500 |
Global Recognition | Highly respected in specific regions | Recognised in over 180 countries, offering a global career advantage |
Focus Area | Specialized in traditional accounting, taxation, auditing, and compliance | Broader scope covering financial management, strategic decision-making, business consultancy, and ethics |
Career Opportunities | Senior roles like Tax Consultant, Auditor, Financial Controller, and CFO | Diverse roles like Management Accountant, Financial Analyst, Business Consultant, and Risk Manager |
Eligibility Criteria | Higher entry requirements, often including a high cut-off percentage or specific scores in qualifying exams | More flexible entry requirements, making it accessible to a broader range of students |
Syllabus | Focused on local laws, regulations, and deep knowledge of accounting and auditing | Comprehensive approach including taxation, financial management, ethics, and international accounting standards |
Cost of Qualification | Higher cost due to the structured program and extensive training | Relatively affordable, with options to study alongside work |
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ACCA Jobs: UK vs. India – Which Is Better
When comparing ACCA job opportunities in the UK and India, several factors must be considered. Ultimately, the decision hinges on individual career goals and preferences regarding location, lifestyle, and long-term aspirations.
The following are some points to provide you with a broad overview of ACCA jobs in the UK and India:
- Demand Growth
UK and India have been noticing growth in ACCA professionals for the past few years. What’s mainly increasing ACCA demand is its global recognition and need for expertise in international finance.
- Job Availability
The UK encompasses a mature job market for ACCA professionals across various industries like accounting, finance, and consultancy. The UK’s economic stability and robust financial sector generate a higher demand for ACCA professionals. Meanwhile, India is also witnessing a noticeable increase due to increased demand from MNCs, which has contributed to over 5,000 job openings this year.
- Growth Opportunities
The UK offers training and development opportunities to ACCA professionals. Universities in the UK offer specialized programs and courses that lead to continuous learning, skill development, and career advancement. At the same time, India is also emphasizing professional development and upscaling continuous learning opportunities by promoting various programs and training institutions that cater to the needs of ACCA professionals.
- Professional Recognition
ACCA is recognized as a gold standard for accounting professionals in the UK. This recognition facilitates easier mobility across various global markets. Conversely, while ACCA is recognized in India, the CA (Chartered Accountant) qualification still holds significant weight, potentially limiting opportunities within domestic firms. ACCA members in India are well-positioned for roles in multinational corporations, aligning with global financial practices.
- Work-Life Balance
The work culture in the UK tends to emphasize work-life balance, with many organizations offering flexible working conditions and supportive environments. In contrast, while India’s job market is growing, the traditional work culture may involve tedious hours and a more strenuous pace, especially in competitive sectors.
Both countries have their unique opportunities and challenges. As the ACCA industry is still emerging in India, the UK has a much more established market for it. However, the decision hinges on individual career goals and preferences regarding location, lifestyle, and long-term aspirations.
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Summary
This blog provides an overview of ACCA salary prospects and career opportunities in the UK. With an average ACCA salary in the UK ranging from £25,000 to £60,000, ACCA professionals can pursue roles like Management Accountant, Financial Controller, and more. The guide covers top cities for ACCA jobs in the UK, key recruiters, and essential skills for success, such as technical expertise and communication. A comparative analysis between the UK and India highlights growth potential, job demand, and professional recognition, helping ACCA aspirants make informed career choices.
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FAQs
Ques 1: Why is ACCA valuable in the UK?
Answer 1: In the UK, ACCA-qualified professionals are highly sought after due to their versatile skills and the credibility the certification brings.
Ques 2: What is the average salary for ACCA professionals in the UK?
Answer 2: ACCA salaries in the UK typically range from £30,000 to £60,000 annually. However, salaries can go higher depending on the role, experience, and location.
Ques 3: Which cities offer the best job opportunities for ACCA professionals in the UK?
Answer 3: London, Manchester, Cardiff, Birmingham, and Edinburgh are among the top cities for ACCA professionals in the UK. These cities have high salary potentials, strong job markets, and diverse opportunities in finance and accounting.
Ques 4: What are the growth opportunities for ACCA professionals in the UK?
Answer 4: ACCA professionals in the UK benefit from continuous learning and development programs offered by universities and organizations. These opportunities enable skill enhancement, career advancement, and even specialization within the finance field.
Ques 5: Which country offers the highest salary of ACCA in the world?
Answer 5: The highest salary of ACCA in the world is typically offered by countries like Switzerland, the United States, and the United Kingdom.
Ques 6: What is the ACCA salary in London?
Answer 6: In London, ACCA professionals earn an average annual salary of £52,500, depending on their experience, role, and industry.
Ques 7: What is the ACCA salary in Europe?
Answer 7: ACCA salaries in Europe differ by country, with Switzerland, Germany, and the Netherlands offering some of the highest pay.
Ques 8: What is the starting salary of ACCA in the UK per month?
Answer 8: The starting ACCA salary per month in the UK ranges between £1,600 to £2,500, depending on factors such as location, experience, and specialization.