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 (₹29 Lakhs). The following table gives you a quick insight into how much ACCAs earn across various countries:

 

Country Annual salary (in £) Annual salary
(1£ = ₹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 – £21,400 Big Four professional services:
£25,100 – £27,000
Standard:
₹18 – ₹21 Lakhs Big 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 ₹3 – ₹30 Lakhs per annum depending on the role, company, and the city. Similarly, an MBA salary in India ranges from ₹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 Lakhs Big 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 demand, which can make you a global professional at the 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