Last updated on August 16th, 2024 at 12:53 pm
The Association of Chartered Certified Accountants (ACCA) offers a globally recognised qualification that prepares professionals for success in finance and accounting across various industries. The ACCA course covers essential topics like financial reporting, management accounting, taxation, audit, and financial management, ensuring members are ready to tackle complex financial challenges.
Understanding potential earnings is crucial for career planning, especially if you are considering the ACCA qualification. Knowing expected salaries helps set realistic financial goals, manage education costs, and assess the return on investment. It also helps in making informed career decisions and selecting specialisations.
Let's explore the specifics of the average ACCA salary in India.
Why Professionals Choose ACCA?
The ACCA qualification equips you with the skills and credentials needed to excel in the accounting field. Here are the benefits that make it an attractive choice for aspiring accountants:
Global Recognition: ACCA is globally recognised, making it a valuable qualification for those aiming to work internationally.
Comprehensive Curriculum: The ACCA course covers a wide range of subjects, including financial management, taxation, and audit, providing a thorough grounding in accounting and finance.
Career Opportunities: ACCA professionals are highly sought after by employers worldwide for their strategic thinking, technical skills, and professional ethics.
Flexibility: The ACCA qualification allows for flexible study options, enabling students to work while they study and progress at their own pace.
Strong Professional Network: Becoming an ACCA member connects professionals to a global network of accountants, offering extensive support, resources, and career opportunities.
Exploring the Skill-Building Potential of ACCA
An ACCA qualification goes beyond mastering numbers; It focuses on shaping well-rounded finance professionals with a diverse skill set. Here's how ACCA helps you build a strong set of abilities:
Strategic Thinking: ACCA teaches you to think strategically, which means you can contribute to big decisions and long-term plans.
Technical Expertise: From financial management to following rules, ACCA covers everything about accounting in detail.
Ethical Integrity: ACCA places a lot of importance on doing the right thing, so you're ready to handle complex financial situations with honesty.
Innovative Approach: ACCA keeps you updated with new technologies and creative ways to handle money matters.
Leadership and Management: Besides skills, ACCA helps you become a leader who can guide teams and succeed in business.
The Growing Demand for ACCA Professionals in India
The demand for ACCA (Association of Chartered Certified Accountants) professionals in India is on a significant rise. Here’s why:
Job Market Relevance: ACCA is highly relevant in India's digital era job market, according to market reports, offering skills that are crucial amidst technological advancements.
Employer Demand: Around 96% of Indian employers plan to recruit finance professionals in 2024, indicating a strong demand for ACCA-certified professionals.
Salary and Career Growth: Professionals enjoy competitive ACCA salaries in India and significant career growth opportunities, making it a lucrative career choice.
Industry Recognition: The qualification is recognised across various industries including finance, consultancy, and auditing, further boosting its demand.
Adaptable to Change: ACCA’s comprehensive curriculum equips professionals with strategic thinking, and technical expertise in financial management, and compliance, making them adaptable and valuable across various industries.
Strategic Advantage in the Job Market: ACCA professionals gain a strategic edge in the job market due to their focus on ethics, strategic business thinking, and technical skills. This positions them for leadership roles and opportunities requiring deep financial expertise in a global setting.
Understanding ACCA Salary in India
ACCA professionals in India can expect substantial remuneration based on their affiliation status and experience level. Here is a brief overview:
- Fresh Graduates: Entry-level ACCA affiliates typically earn between INR 2 lakhs to INR 17 lakhs per annum. This varies based on the city and employer, with larger firms offering higher starting salaries.
- Experienced Professionals: As ACCA professionals gain experience and become full members, their earning potential increases significantly. Experienced ACCA members (like a CFO) can expect salaries ranging from INR 12 lakhs to INR 101 lakhs per annum, depending on their expertise and role.
- Big 4 Accounting Firms: Working for renowned firms like the Big 4 (Deloitte, PwC, EY, KPMG) offers even higher salary prospects due to the complex nature of work and global exposure. Salaries in these firms for ACCA professionals can exceed industry averages, rewarding both experience and specialised skills.
Understanding the Dynamics of ACCA Salaries and Job Roles in India
The ACCA salary in India depends on a number of external factors. Here is a comprehensive overview:
Industry
ACCA salaries in India are greatly impacted by the industry in which professionals are employed. Industries like financial services and consulting offer higher salaries compared to others, due to the demand for ACCA skills in complex financial environments.
Here’s a brief overview of some of the industries in India:
| Industry | Annual ACCA salary in India |
|---|---|
| Financial Services and Banking | INR 3.2 lakhs - INR 20 lakhs |
| IT Services & Consulting | INR 4.2 lakhs - INR 20 lakhs |
| Engineering & Construction | INR 3 lakhs - INR 16.2 lakhs |
| Manufacturing | INR 1.7 lakhs - INR 21 lakhs |
| Power | INR 4.0 lakhs - INR 20.5 lakhs |
| Consulting | INR 3.9 lakhs - INR 24 lakhs |
| Accounting and Auditing | INR 4.5 lakhs - INR 18 lakhs |
| Management Consulting | INR 6.5 lakhs - INR 21.3 lakhs |
Experience
The salary of an ACCA professional varies based on their experience. Here's a simple breakdown:
Entry-Level (0-3 years)
- Starting: Fresh ACCA affiliates start with lower salaries as they gain practical experience.
- Range: INR 4-8 lakhs annually, depending on the city and sector.
Mid-Level Experience (3-7 years)
- Salary Increase: With more experience, salaries increase as they take on more responsibilities.
- Range: INR 10-20 lakhs annually, especially in managerial positions or specialised sectors.
Senior-Level Experience (8+ years)
- Leadership Roles: Extensive experience often leads to senior management roles with higher salaries.
- Range: ACCA average salary in India ranges from INR 30-60+ lakhs annually. Executive positions like CFO can earn beyond INR 100 lakhs.
Roles
After qualifying for the ACCA exams, professionals can expect varying salary ranges based on their designation and experience level. Here is a list of the ACCA average salary in India:
| ACCA Jobs | Average Pay Range |
| Accounts Assistant | INR 1.3 LPA to 4.2 LPA |
| Accountant | INR 2.2 LPA to 4.1 LPA |
| Senior Accountant | INR 3 LPA to 5 LPA |
| Account Executive | INR 1.7 LPA to 6.0 LPA |
| Auditor | INR 4.8 LPA to 7.4 LPA |
| Associate Auditor | INR 4.4 LPA to 15 LPA |
| Financial Analyst | INR 4.6 LPA to 19 LPA |
| Finance Manager | INR 5.8 LPA to 12.4 LPA |
| Chartered Accountant | INR 7.3 LPA to 22 LPA |
Locations
The ACCA salary in India varies by location due to differences in industry presence, cost of living, and economic conditions.
Here is an overview of the factors influencing salaries and job positions in some of the top metro cities in India:
Mumbai:
- Salary Range: INR 7-50 lakhs per annum.
- Significant Job Roles: Financial Analyst, Senior Accountant, Audit Manager, CFO.
- Factors: Mumbai, being the financial hub of India, offers the highest salaries due to the presence of numerous banks, financial institutions, and multinational corporations.
Delhi:
- Salary Range: INR 6-30 lakhs per annum.
- Significant Job Roles: Chartered Accountant, Tax Consultant, Financial Controller, Internal Auditor.
- Factors: As the capital city with many corporate headquarters and a strong presence of public sector undertakings (PSUs), Delhi offers competitive salaries.
Bangalore:
- Salary Range: INR 5-20 lakhs per annum.
- Significant Job Roles: Finance Manager, Cost Accountant, Business Analyst, Audit Associate.
- Factors: Known as the tech capital, Bangalore provides numerous opportunities in the IT and tech sectors, driving competitive ACCA salaries in India per month.
Kolkata:
- Salary Range: INR 4-18 lakhs per annum.
- Significant Job Roles: Accounting Manager, Audit Executive, Treasury Analyst, Finance Officer.
- Factors: Kolkata has a strong presence in manufacturing, FMCG, and IT services, with salaries generally on the lower side compared to other metros due to fewer multinational corporations.
Hyderabad:
- Salary Range: INR 4-12 lakhs per annum.
- Significant Job Roles: Management Accountant, Financial Consultant, Compliance Officer, Risk Analyst.
- Factors: Hyderabad is emerging as a major hub for IT and pharmaceutical industries, offering competitive salaries.
Chennai:
- Salary Range: INR 5-15 lakhs per annum.
- Significant Job Roles: Management Accountant, Financial Consultant, Compliance Officer, Risk Analyst.
- Factors: Chennai has a strong presence in the manufacturing, IT, and automobile industries, offering a wide range of job opportunities for ACCA professionals.
Pune:
- Salary Range: INR 4-12 lakhs per annum.
- Significant Job Roles: Finance Manager, Cost Accountant, Business Analyst, Audit Associate.
- Factors: Pune is known for its IT and education sectors, providing numerous opportunities for ACCA professionals, though the salaries tend to be slightly lower than in Mumbai and Chennai.
Company Size
The size of the company plays a crucial role in determining the job roles and ACCA salary in India. Larger organisations tend to offer higher compensation and more senior roles, while smaller companies provide diverse experiences and faster career growth.
Small Businesses and Startups:
- Salary Range: INR 4-8 lakhs per annum.
- Significant Job Roles: Junior Accountant, Finance Executive, Assistant Auditor.
- Influence: Small businesses and startups generally offer lower salaries. However, they often provide valuable hands-on experience and rapid career progression opportunities in a dynamic work environment.
Medium-Sized Enterprises:
- Salary Range: INR 5-12 lakhs per annum.
- Significant Job Roles: Finance Manager, Management Accountant, Internal Auditor.
- Influence: Medium-sized companies offer competitive salaries and diverse roles but may not match the pay scales of MNCs. They provide substantial growth opportunities and a broad range of responsibilities
Large Multinational Corporations (MNCs):
- Salary Range: INR 8-20 lakhs per annum.
- Significant Job Roles: Financial Controller, Audit Manager, Chief Financial Officer (CFO), Senior Financial Analyst.
- Influence: Larger MNCs typically offer higher salaries due to their greater financial resources and more complex financial operations, which require specialised expertise
ACCA Salary in Big 4
The Big 4 companies - Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG - are global leaders in professional services, operating extensively in India. They specialise in audit, taxation, consulting, and advisory services, attracting top talent in finance and accounting.
Here's the average annual salary breakdown for each of the Big 4 firms in India:
Deloitte:
| Entry-level
(Associates/Analysts) | INR 2.4 to 7.5 LPA |
| Mid-level
(Senior Associates/Consultants) | INR 7.0 to 27.0 LPA |
| Senior Management/Leadership
(Managers/Directors/Partners) | INR 23 to 78 LPA |
KPMG:
| Entry-level
(Associates/Analysts) | INR 4.0 to 15.6 LPA |
| Mid-level
(Senior Associates/Consultants) | INR 6.4 to 22 LPA |
| Senior Management/Leadership
(Managers/Directors/Partners) | INR 18 LPA to 60 LPA |
PricewaterhouseCoopers (PwC):
| Entry-level
(Associates/Analysts) | INR 4.5 to 16.1 LPA |
| Mid-level
(Senior Associates/Consultants) | INR 7.7 to 29.9 LPA |
| Senior Management/Leadership
(Managers/Directors/Partners) | INR 21.5 to 65.0 LPA |
Ernst & Young (EY):
| Entry-level
(Associates/Analysts) | INR 4.3 to 13.7 LPA |
| Mid-level
(Senior Associates/Consultants) | INR 5.9 to 20.8 LPA |
| Senior Management/Leadership
(Managers/Directors/Partners) | INR 25.0 to 62.0 LPA |
Upcoming Prospects of ACCA Professionals in the Indian Economic Landscape
As Indian businesses continue to grow and expand globally, ACCA professionals will play a crucial role in supporting this development. The prospects look promising indeed:
- Emerging Financial Hubs: With cities like Mumbai, Bangalore, and Delhi becoming major financial hubs, ACCA professionals have ample opportunities in corporate finance, banking, and financial services sectors.
- Diverse Roles: ACCA professionals in India can pursue diverse roles, including financial analyst, internal auditor, tax consultant, and CFO, thanks to their broad skill set covering accounting, finance, and strategic management.
- Educational Collaborations: ACCA's partnerships with Indian educational institutions are set to expand the pool of qualified professionals, enhancing the overall talent base.
- Technological Advancements: As technology reshapes the financial sector, ACCA’s focus on digital and data analytics equips professionals to handle the evolving demands of the industry effectively.
- Alignment with Local Standards: Ongoing efforts to align ACCA qualifications with Indian accounting standards will likely increase their relevance and applicability within the country.
- Competitive ACCA salaries in India per month: ACCA-qualified professionals often command higher salaries due to their expertise and the global recognition of the certification, making it a lucrative career path.
Top 10 Industries Hiring ACCA Professionals in India
Financial Services: Banks, investment firms, and insurance companies are major employers, offering roles in financial management, auditing, and risk assessment. Entry-level positions start around INR 3-5 lakhs per annum, with senior roles reaching up to INR 20-30 lakhs.
Consulting: Firms like Deloitte, PwC, EY, and KPMG hire ACCA professionals for financial advisory, audit, and consulting roles. Salaries range from INR 4-8 lakhs for freshers to over INR 25 lakhs for experienced consultants.
Big Four Accounting Firms: PwC, Deloitte, EY, and KPMG offer lucrative opportunities in audit, taxation, and advisory services. Entry-level salaries start at INR 4-6 lakhs, rising to INR 25 lakhs or more for senior roles.
IT and Technology: Tech giants like Accenture, Infosys, and TCS seek ACCA professionals for financial analysis, project costing, and compliance roles. Salaries vary from INR 3-8 lakhs for entry-level positions to INR 20-25 lakhs for managerial roles.
Healthcare: Hospitals and healthcare providers hire ACCA professionals for financial planning, budget management, and compliance. Salaries typically range from INR 4-8 lakhs initially, increasing with experience.
Energy and Utilities: Companies in this sector employ ACCA professionals for financial control, project accounting, and regulatory compliance. Entry-level salaries start at INR 5-7 lakhs, with senior roles offering over INR 20 lakhs.
Retail and Consumer Goods: Retail chains and FMCG companies hire ACCA professionals for financial analysis, cost management, and supply chain finance roles. Salaries range from INR 3-6 lakhs for freshers to INR 15-20 lakhs for experienced professionals.
Telecommunications: Telecom companies leverage ACCA skills for financial planning, revenue assurance, and compliance roles. Salaries start at INR 4-6 lakhs and can go up to INR 18-25 lakhs for senior management positions.
Government and Public Sector: Public sector organisations offer roles in financial management, audit, and policy implementation. Salaries range widely, with entry-level positions around INR 4-7 lakhs and senior roles exceeding INR 20 lakhs.
Education and Training: Educational institutions and training providers employ ACCA professionals for curriculum development, financial management, and compliance. Salaries typically range from INR 3-6 lakhs for entry-level roles to INR 12-18 lakhs for senior positions.
Conclusion
As the finance industry evolves globally, the demand for ACCA graduates is set to soar. The ACCA course not only opens doors to diverse career opportunities in finance but also provides the flexibility to pursue roles both nationally and internationally.
In today’s competitive job market, standing out is crucial. In this context, Imarticus Learning offers an extensive ACCA, UK course online. Imarticus Learning offers a comprehensive ACCA course with a 100% placement guarantee after completing the first 2 levels.
The course includes a professional-level pre-placement boot camp and features ACCA books, a question bank, practice papers, MCQs, flashcards, learning videos, live classes by ACCA faculties, and on-demand sessions with international ACCA trainers.
Move forward with your financial career with ACCA, UK Online Course from Imarticus.
Frequently Asked Questions
What are the structure and requirements of the Imarticus ACCA program?
The ACCA coursework is structured into three levels:
- Applied Knowledge Level (ACCA Knowledge Level)
- Applied Skills Level (ACCA Skill Level)
- Strategic Professional Level (ACCA Professional Level)
In addition to completing these three levels, candidates must fulfil the Practical Experience Requirement (PER), which involves gaining 36 months of supervised practical experience in a relevant finance or accounting role. Furthermore, candidates are required to complete a quick online self-learning course in Ethics provided by ACCA
How long does it take to complete ACCA coursework?
Typically, candidates complete all levels of the ACCA qualification—Knowledge, Applied Skills, and Professional—within an average span of 2 to 3 years.
Which is the highest ACCA salary in India?
The highest ACCA salaries in India can range significantly depending on factors such as experience, industry, and specific job roles. Generally, experienced ACCA professionals working in prestigious firms or multinational corporations can earn upwards of INR 70 lakhs per annum.
