Founded in 1904, the Association of Chartered Certified Accountants (ACCA) constitutes a global professional society for accountants. The organization promotes fair and standardized accounting practices at small and medium businesses worldwide, particularly those in emerging economies. Members of the ACCA gain qualifications through the organization that help advance career prospects. The organization also helps students of accounting and professionals alike find employment opportunities. The salary of ACCA members worldwide varies based on a variety of considerations.
The ACCA conducted two salary surveys in the first decade of the 21st century. The first, published in 2009 and based on data from 2008 and 2007, contains salary information for all ACCA members working in either the Republic of Ireland or Northern Ireland. The second, published in 2010 based on data from 2009, contains salary information for all ACCA members working in Russia. According to the official ACCA website, as of the time of publication, the organization plans to continue conducting such surveys in all areas with active members.
According to the ACCA salary survey conducted in Ireland, members of the organization earn between $14,469 and $578,760. Students with less than one year experience earned the lowest salaries, making between $14,469 and $47,747 — with an average earning of $27,491. Accounting firm partners earned the highest salary range, or $57,876 to $578,760 — and ACCA members in the Republic of Ireland earned more than those in Northern Ireland.
According to the Russian ACCA salary survey, 27.8 percent of Russian members earned a salary range of $3,588 to $5,382 per month, or $43,056 to $64,584 annually. The survey further found that 56.9 percent of Russian members earned between $64,584 and $150,708 annually.
Statistics From Asia
An article published in the ACCA “Accounting and Business Magazine” in 2008 discusses salary information for accountants in Hong Kong and throughout Asia in that year. According to the article, ACCA members holding Chief Financial Officer jobs in Hong Kong stood to earn $101,000 to $169,000 annually. This article concludes that ACCA members in Hong Kong stood to earn significantly more than those in China, India, Indonesia, Malaysia and Singapore in 2008, though it points out that accounting professionals on the Chinese mainland earned significantly higher annually pay raises than those in Hong Kong in 2007. If such pay raises persist, Chinese ACCA members look to earn more than those in Hong Kong.
Factors Affecting ACCA Salary
Experience level seriously affects ACCA salary, as the Irish salary survey shows. Other factors affecting salary on the Irish survey include the nature of the employer — public practice, public sector, corporate sector, financial services — and the number of partners and employees in the practice. As of this survey, entry-level employees made more in large practices with more than 100 partners, while partners earned significantly more in small firms with only two to three partners. Furthermore, ACCA members working in cities in Ireland earned significantly more per year than those working in rural areas or towns.