After you successfully complete any qualification or degree, one of the most important aspects is the placements and packages offered to you. For a student of accounting audit & finance in India, the Chartered Accountancy qualification from the Institute of Chartered Accountants of India (ICAI) or the Association Chartered Certified Accountant (ACCA) qualification is two very attractive career options. Further doing ACCA with the CA course gives them a rewarding future and employment opportunities with lucrative salaries. However, the ACCA and CA course differ significantly in terms of course content, duration, and salary potential. The other careers which a student typically can think of are Chartered Financial Analyst (CFA), MBA, etc.

The salary of Chartered Accountants in India ranges from 3.5 to 20 Lakhs p.a. The salary of ACCAs in India also falls in a similar range. However, globally the salary drawn by ACCAs is much higher. In the UK, where ACCA is headquartered, the average salary that they draw is of £30,700 (Rs. 29 lakhs). The following table gives you a quick insight into how much ACCAs earn across various countries:

 

Country Annual salary (in £) Annual salary

(in INR lakhs)

(1£ = Rs.100)

Additional
UK

 

£28,000 – £40,000 28 – 40 Lakhs Full support package and benefits
Singapore £24,000 – £30,000 24 – 30 Lakhs
Dubai   12 – 15 Lakhs
Switzerland £47,400 – £61,000 47- 61 Lakhs Plus bonuses
Hong Kong Standard:
£18,600 – £21,400Big Four professional services:
£25,100 – £27,000
Standard:
18 – 21 LakhsBig Four professional services:
25 – 27 Lakhs
Australia £32,400 – £40,500 32 – 40 Lakhs
France £23,100 – £31,400 23 – 31 Lakhs Plus some extra packages
Germany £23,100 – £28,900 23 – 29 Lakhs

*Source https://www.accaglobal.com/gb/en/student/sa/features/what-salary-should-you-be-earning-.html

Talking about CFA, the salary in India ranges from Rs. 3 – 30 lakhs per annum depending on the role, company, and the city. Similarly, an MBA salary in India ranges from Rs 2.6 – 13 Lakhs per annum. If you want to compare the salaries offered by these qualifications globally (in equivalent INR), then the following table will be handy for you-

 

Country ACCA CFA MBA
India 3.5 – 20 Lakhs 3 – 12 Lakhs 2.6 – 13 Lakhs
UK 28 – 40 Lakhs 28 – 98 Lakhs 65 Lakhs
USA 28 – 75 Lakhs 34 – 95 Lakhs 71 Lakhs
Singapore 24 – 30 Lakhs 32 – 90 Lakhs 58 Lakhs
Switzerland 47 – 61 Lakhs 70 Lakhs 86 Lakhs
Hong Kong Standard:
18 – 21 LakhsBig Four professional services:
25 – 27 Lakhs
88 Lakhs 45 Lakhs
Australia 32 – 40 Lakhs 52 Lakhs 69 Lakhs
France 23 – 31 Lakhs 43 Lakhs 69 Lakhs
Germany 23 – 29 Lakhs 57 Lakhs 54 Lakhs

*All the salaries in blue given in the above table as taken from different sources available on the web.

As we can infer from this, for almost all the qualifications, the pay scale abroad is significantly higher than what is in India. Hence, it becomes very important to consider a qualification that gives you a global edge and competence, which is where ACCA and CFA gain an advantage over CA. Moreover, ACCA is a very flexible qualification in much demand, which can make you a global professional at an early age of 20. I am sure you will choose wisely when it comes to deciding your future!

*Source:

https://www.payscale.com/research/IN/Degree=Master_of_Business_Administration_(MBA)/Salary

https://www.simplilearn.com/cfa-salary-across-the-globe-article

https://www.topmba.com/jobs/career-trends/top-10-countries-mba-salaries-2017)

and other sites