PracticePeople In PracticeACAs better paid, survey reveals

ACAs better paid, survey reveals

Accountants with an ACA qualification are far better paid than those with a CIMA or ACCA education, according to a controversial new survey.

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

UK tops accountancy earnings league

FD pay rises miss boardroom mark

FDs never throw sickies

Related Articles

Is inefficiency stealing your time and money?

Accounting Firms Is inefficiency stealing your time and money?

6m Emma Smith, Managing Editor
CIMA elects new president

Institutes CIMA elects new president

6m Emma Smith, Managing Editor
Transparent currency trade: How to achieve costs visibility

Governance Transparent currency trade: How to achieve costs visibility

6m Emma Smith, Managing Editor
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
EY appoints head of UK Infrastructure Asset Intelligence practice

Accounting Firms EY appoints head of UK Infrastructure Asset Intelligence practice

8m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
MHA MacIntyre Hudson advises on management buy-out

Accounting Firms MHA MacIntyre Hudson advises on management buy-out

10m Emma Smith, Managing Editor