Average Salary of ACCA in India
ACCA, or the Association of Chartered Certified Accountants, is a globally recognized accounting certification. ACCA certification is widely popular in India due to its international recognition and high demand in the job market.
The salary of ACCA professionals in India is quite lucrative, and it varies depending on several factors, such as experience, location, industry, and job position.
According to Payscale, the average salary of ACCA in India is around INR 6 lakhs per annum. However, this figure can vary depending on the factors mentioned above.
Here is information on the average salary of ACCA qualified accountants in India:
- The average salary for ACCA-qualified accountants in India ranges from Rs. 6 lakhs to Rs. 15 lakhs per annum. The compensation varies based on experience, industry, location, company, etc.
- For fresh ACCA-qualified graduates, the average starting salary is around Rs. 6-8 lakhs per annum. Wages can go up to Rs. 10-12 lakhs for those with 3-4 years of experience.
- Senior ACCAs with more than five years of experience can easily command salaries of Rs. 12-15 lakhs per annum. Some top earners with 10+ years of experience can earn up to Rs. 20-25 lakhs per annum.
- The finance and consulting sectors pay the highest salaries to ACCA-qualified accountants in India. Other sectors like FMCG, banking, manufacturing, etc. also offer good pay packages.
- The average salary of ACCAs in metro cities like Delhi, Mumbai, Bangalore, and Chennai is higher compared to other cities. In metros, freshers can expect starting salaries close to Rs. 8-10 lakhs per annum.
- Along with the base salary, ACCAs also get attractive allowances and benefits like bonuses, medical insurance, stock options, retirement benefits, etc., depending on the company.
While the average ACCA salary in India is around Rs. 8-12 lakhs per annum, top earners with the right experience and skills can receive much more compensation. The ACCA qualification opens up several high-paying job opportunities for accountants in India.
Factors affecting ACCA Salary in India
Experience plays a crucial role in determining the salary of ACCA professionals in India. The more experience you have, the higher your salary will be.
Location is another critical factor affecting ACCA professionals’ salaries in India. Metro cities like Mumbai, Delhi, and Bangalore offer higher wages than other cities.
Industry and job position also play a crucial role in determining the salary of ACCA professionals in India. For instance, ACCA professionals in the banking and finance sector are paid more than those in other industries.
Are any specific companies or industries currently hiring ACCA-qualified accountants in India?
Yes, many companies and industries actively hire ACCA-qualified accountants in India. Some of the major ones are:
- Consulting firms: The big four consulting firms (Deloitte, KPMG, EY, PwC) hire many ACCAs annually for their consulting and assurance practices.
- Banks and NBFCs: Both public and private sector banks, and NBFCs like HDFC, ICICI bank, Axis Bank, etc., hire ACCAs for their finance and accounting roles.
- FMCG companies: Companies like Hindustan Unilever, ITC, Britannia, Nestle, etc. hire ACCAs in finance, planning, management accounting, etc.
- Manufacturing companies: Many large Indian manufacturing companies, like Tata, Mahindra, Aditya Birla Group, etc., hire ACCAs for finance leadership positions.
- Technology companies: Established IT firms and startups hire ACCAs for accounting, finance, tax, and compliance roles.
- Hospitality industry: Hotels, airlines, and other hospitality companies hire ACCAs for managerial roles in finance, budgeting, reporting, etc.
- Accounting firms: Small and large accounting firms and CAs hire ACCAs for audit and tax roles.
- PE/VC funds: Private equity and venture capital funds hire ACCA-qualified finance professionals for roles in investments, financial analysis, reporting, etc.
So overall, ACCAs can find jobs in various industries in India, including consulting, banking/finance, FMCG, manufacturing, technology, hospitality, accounting, and many more. Companies value the advanced knowledge and globally transferable skills that the ACCA qualification provides.
The key is to determine your work interests and then target companies within those desired industries. ACCAs have a lot of choices regarding job opportunities in India currently.
Top Companies Hiring ACCA Professionals in India
Several top companies in India are hiring ACCA professionals due to their high demand in the job market. Some leading companies hiring ACCA professionals in India include KPMG, Deloitte, EY, PwC, and Grant Thornton.
Future Scope of ACCA in India
The future scope of ACCA in India looks promising. As India is becoming a hub for multinational companies, the demand for ACCA professionals is expected to increase. Moreover, ACCA certification is recognized in over 180 countries, meaning ACCA professionals can work in any part of the world.
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FAQs
- What is ACCA?
ACCA stands for the Association of Chartered Certified Accountants. It is a globally recognized accounting certification that offers high-paying job opportunities in India and worldwide. - What is the average salary of ACCA in India?
The average salary of ACCA in India is around INR 6 lakhs per annum. However, this figure can vary depending on several factors: experience, location, industry, and job position. - Which companies hire ACCA professionals in India?
Several top companies in India are hiring ACCA professionals due to their high demand in the job market. Some leading companies hiring ACCA professionals in India include KPMG, Deloitte, EY, PwC, and Grant Thornton. - What is the future scope of ACCA in India?
The future scope of ACCA in India looks promising. As India is becoming a hub for multinational companies, the demand for ACCA professionals is expected to increase. - How can I become an ACCA professional in India?
To become an ACCA professional in India, you need to complete the ACCA certification program, which includes several exams and practical work experience. The program can be completed in 2-3 years, depending on your pace.Conclusion
In conclusion, ACCA is a globally recognized accounting certification that offers high-paying job opportunities in India. The average salary of ACCA in India is around INR 6 lakhs per annum, and it varies depending on several factors, such as experience, location, industry, and job position. The future scope of ACCA in India looks promising, and ACCA professionals can work in any part of the world due to the certification’s international recognition.