Recruitment company TMP Worldwide found that the average UK salary earned by an ACA, qualified for five years or more, stood at £75,194, while CIMA and ACCA qualifications would attract earnings of £ 64,361 and £ 62,754 respectively.
The findings for average salaries earned by finance professionals, with five year’s experience, also favoured the ICAEW: a qualified ACA would earn £64,361, while a CIMA-qualified accountant would be paid £51,569 and ACCA accredited accountant £49,754.
The survey showed that the pay gap between the qualifications was minimal in the first two years, but after three years the ACAs pulled away, and were way ahead after five years.
However, Richard Baker, the Finance director of TMP worldwide, explained that the figures should not be taken at face value: ‘ACAs will only command these high salaries if they are in a business-facing role of some significance.
‘Naturally, if they are in a lesser role, their salary will be correspondingly lower.’
John Sear, head of the career service at the ICAEW said the survey showed how an ACA qualification could get individuals higher up the corporate ladder.
He said: ‘This shows the ACA is one of the leading qualifications for business and that we are attracting the best calibre candidates.’
ACCA disputed the results of the survey, saying: ‘Our own figures show that ACCAs qualify for higher salaries.’
Location also proved to be important – London and the South East came out top, the average wage across all three qualifications five years after qualifying standing at £61, 777 and £58, 611. The West Midlands came in third with £56,417. The national average wage across all levels and qualifications was £55,339.
Links – other surveys
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