So much has been said about ACCA being the next big thing versus the stalwarts like ICAI’s Chartered Qualification. While, some surveys are authentic and verifiable, most are just bogus salaries which don’t exist. In this article, I will debunk or confirm the reality of ACCA salary in India.
I would highly recommend anyone either doing ACCA or thinking of doing ACCA to first read this article.
Annual ACCA Salary in India – Based on Functions
Now, I don’t really understand why no one talks about the work that an ACCA qualified professional; can or cannot do. So, if this statement just made you scratch your head, don’t worry. Firstly the ACCA salary in India, depends on the work that an ACCA can do. For eg; A chartered accountant from ICAI, can audit, can practice and also can sign documents and also stand in income tax tribunals for hearings.
ACCA Job Roles As per the ACCA official Website
So, one thing is very clear that there are three major roles which you can get after completing ACCA, and the reality is that ACCA salary in India is low compared to the effort put in by you.
- Business Analyst
- Financial Analyst
ACCA Salary in India As per Job Functions
|Business Analyst||2.5 Lacs|
|Financial Analyst||2.8 Lacs|
ACCA Salary for freshers in India
Now, I’ll hit the nail in the head that ACCA salary in India, especially as a fresher is low. Where a chartered accountant from ICAI, earns a minimum 6 LPA as a fresher. You as a ACCA member might just start with maximum 3 Lacs with an average company. Whereas with reputed companies the figure might be slightly higher.
Big 4 ACCA salary survey
Again, as opposed to the popular belief that ACCA’s will be earnings in millions in the big 4. However the sad truth is that ACCA salary in India are not different even in BIG 4. Now sure there might be a bright candidate, once in a while who might have a higher salary. However the general trends is the same as regular companies.
One big observation that you must do, is to check the various job descriptions. And in that job description check that apart from ACCA, which other qualifications are also eligible. Which will give you an interesting insight. Which is that the companies are ok with even a regular commerce students to apply for it. Which by the way is my biggest worry with people blindly believing the ACCA salary details given by various institutes.
|BIG 4||CA Fresher Salary in India||ACCA Salary|
|KPMG||10 LPA||4.5 LPA|
|Deloitee||7 LPA||3.5 LPA|
|PWC||9.34 LPA||3.6 LPA|
|Ernest & Young||6.22 LPA||4 LPA|
Above, I have given the comparison of Deloitte CA fresher salary, KPMG Fresher salary india, and ACCA salary in India comparison
Outside India ACCA Salary Detaills
Now, let me examine, how the acca salary fares abroad versus the domestic scene.
ACCA salary in UK
Starting with the motherland of ACCA, which is the U.K. The ACCA salary in U.K seems be agreed on majority of the salary survey websites ; 47k Pounds.Now to put things in perspective, on how much is 47k? Well the answer is that if you compare that will qualifications like CFA, for which the candidates earn somewhere around 52k.
ACCA Salary in Canada
Now compared to U.K, in Canada the ACCA salary is around $C 71000 which is a respectable level of salaries to be expected as a fresher.However, you must remember that Canada doesn’t officially recognize ACCA as a statutory qualification. Somewhat like India
ACCA salary in Australia- Chartered Accountant Salary Australia
ACCA affiliates in Australia can expect somewhere around $51000 australian dollars as entry level compensation. While on the higher side, experienced candidates can expect somewhere around $81000.
Now, a small note that Australia recognizes ACCA to the extent that you can apply for CPA Australia to get practicing license.
ACCA Salary vs CA Salary
Now, let’s come back to India and understand the difference in ACCA Salary in India versus the ICAI’s CA salary. While many blogs either do not discuss this or exaggerate the ACCA salary. However, the truth is that CA’s earn much higher entry level salaries and progressive compensation than ACCA.
One of the major reasons for it, is that ICAI has a strong presence in India. Also, ICAI is a statutory body, which means legally recognized. Now, I am not sure nor certain if this will change in the future.
Average Salary of CPA in India Vs ACCA salary in India
Now, the interesting part is that although ACCA has not really live upto the levels of CA salary in India. However Average salary of CPA in India, the average Certified Public Accountant’s salary in India in 2023 is ₹6,88,538.
Now, the main reason is that CPA is statutory qualification of the U.S, which means that even though CPA’s don’t have signing authority in India but they do have it in the U.S. And, most of the work in BIG 4 is related to U.S Taxation and Consulting. Which is one of the most important things to remember on the top reasons.
So, what is my final verdict on the acca salary in India. To be very honest, the salary is the same as any graduate in finance. Or may be slightly better than that. But nothing comparable to the reputation of CPA and ICAI. If you want to grow in accounting in India, the only way is to do the most difficult accounting exam, which is CA or CPA. But if you are thinking that you will become a partner in an accounting firm because of ACCA then you are very badly mistaken. Having said that ACCA does seem to do well in countries like U.K, UAE & Australia which partly recognize ACCA as a comparable qualification.
Is ACCA valued in India?
The answer to that question, depends on “What you mean by value?”. Does ACCA have a good curriculum, the answer is yes. But compared to CA or CPA, the value is next to minimal.
Is ACCA more flexible?
The answer is yes. It is definitely more flexible than CA. But always remember you don’t get valued in the market for doing something flexible and easy.
Is CA more challenging than ACCA?
And the answer is hands down, yes! Please remember that CA is not just about clearing exams, with the competition. But it is difficult because of the physical labour of doing article ship while earning peanuts and at the same time keeping the spirits high to clear the exam.