ACCA Salary Guide: Expected Earnings Revealed
What is ACCA and What Does an ACCA Professional Do?
ACCA professionals provide various financial services to businesses and individuals, including accounting, auditing, tax advice, and financial consulting. Their responsibilities encompass preparing financial statements, conducting audits, analyzing financial data, and ensuring adherence to regulations. Common career paths for ACCA professionals include public accounting, internal auditing, management accounting, and tax advisory.
With the necessary qualifications and experience, an ACCA career offers the potential for both competitive compensation and fulfilling work.
Average ACCA Salary Per Month in India
Here’s a breakdown of the average ACCA salary per month in various job roles in India:
| Job Role | Monthly Salary Range (INR) |
| ACCA Fresher/ Trainee | 25000-40000 |
| Junior Accountant/Analyst | 35000-50000 |
| Assistant Manager/ Senior Accountant | 50000-75000 |
| Manager | 75000-125000 |
| Senior Manager/ Head of Department | 125000-200000 |
| Director/ CFO/ Partner | 2000000-500000+ |
Note: These are just average ranges, and individual salaries may vary
Factors That Influence ACCA Salaries
Several factors influence the salary of ACCA professionals in India.
Experience
The earning potential for ACCA professionals varies significantly based on experience. Here’s a breakdown:
- Entry-Level (0-3 years): Fresh ACCA affiliates typically start with lower salaries (INR 4-8 lakhs annually in India) as they gain practical experience. The range can vary depending on the city and sector.
- Mid-Level Experience (3-7 years): With experience, ACCA professionals see a substantial salary increase (INR 10-20 lakhs annually) as they move into more responsibility, such as managerial positions or specialized sectors.
- Senior-Level Experience (8+ years): Extensive experience allows ACCA professionals to reach senior management roles with a significant salary jump (INR 20-30 lakhs annually). The salary for executive positions like CFO can be much higher, exceeding INR 50 lakhs.
Location
ACCA salary expectations in India vary by city. Here’s a quick overview:
- Mumbai: India’s financial hub offers the highest ACCA salaries (INR 6-12 lakhs for entry-level and INR 20-30+ lakhs for senior positions).
- Delhi: The capital city, with its strong economic and industrial base, offers ACCA salaries ranging from INR 5-10 lakhs for entry-level to INR 18-28 lakhs for senior positions.
- Bangalore: The Silicon Valley of India, with a high concentration of tech companies and startups, offers ACCA salaries in the range of INR 5.5-11 lakhs for entry-level and INR 19-30 lakhs for senior positions.
- Hyderabad: A growing tech city with a presence of global firms, offers ACCA salaries ranging from INR 5-9 lakhs for entry-level positions to INR 17-27 lakhs for senior positions.
Industry
The ACCA qualification can lead to high-paying jobs across various industries. Here’s a summary of salary expectations by sector:
- Financial Services and Banking- This sector offers the highest salaries. Entry-level roles can fetch 6-15 lakhs, while senior positions in investment banking or financial analysis can command over 40 lakhs annually.
- Oil & Gas/Energy: Another high-paying sector with entry-level roles at 7-16 lakhs and senior positions reaching 45 lakhs annually.
- Information Technology (IT) and Software Services: Entry-level roles start at 5-12 lakhs, and senior positions in global companies can pay up to 35 lakhs per annum,
- Manufacturing: Offers salaries ranging from 5-10 lakhs for entry-level positions and 18-30 lakhs for senior management in large-scale operations.
- Consulting: Reputable firms pay 8-14 lakhs for entry-level roles, while senior consultants and leaders in strategy and management consulting can earn up to 50 lakhs per annum.
Roles and Responsibilities
An ACCA professional’s salary depends on their roles and responsibilities. Here’s a breakdown by role:
- Audit & Assurance: Entry-level audit associates can expect to earn 4-7 lakhs annually, while senior partners can earn over 50 lakhs.
- Taxation: Tax analysts start at 5-8 lakhs, with heads of tax reaching 60+ lakhs per annum.
- Financial Analysis & Consulting: Financial analysts start at 5-9 lakhs, and senior consultants can make over 70 lakhs annually.
- Corporate Finance: Finance officers start at 5-10 lakhs, and CFOs can earn over 80 lakhs annually.
- Management Accounting: Management accountants start at 6-10 lakhs, and finance directors can make over 80 lakhs annually.
Company Size
Company size is another factor affecting ACCA salaries:
- SMEs: Offer lower salaries (3-6 lakhs entry-level) but may provide a faster track to senior roles (15-25 lakhs) with broader work experience due to flatter structures.
- Large Companies: Salaries are higher ( 5-10 lakhs entry-level) with comprehensive benefits packages ( bonuses, health insurance, etc.), but roles might be more defined with less day-to-day variety.
- MNCs and Big Four: The highest salaries ( 6-12 lakhs entry-level) with potential for even higher earnings at senior levels ( 35+ lakhs), but roles can be more specialized with less task variation
CONCLUSION
The ACCA qualification demonstrably serves as a springboard to a prosperous career in finance or accounting. It offers attractive remuneration throughout various career stages. The qualification’s global recognition grants individuals the versatility to pursue domestic and international employment opportunities. The ACCA qualification establishes itself as a judicious selection for those seeking a lucrative and fulfilling professional path by enabling progressive career advancement and escalating compensation over time.