BACKGROUND:
The ACCA qualification is well-known worldwide, specifically in countries like the UK and the UAE. The hype of the ACCA qualification is increasing. It has become popular not only amongst the aspirants of accounting but also among the employers. This trend of ACCA courses in the UAE and the UK is forecasted to increase in the coming years, creating more ACCA career opportunities for professionals.
In today’s blog, we are going to discuss the scope of ACCA in the UK and UAE by comparing the potential salaries, tax implications, career progression, and ACCA career opportunities in both regions.
POTENTIAL SALARIES:
ACCA professionals are highly valued in the local as well as international job market, and employers sought-after skillful ACCA professionals for their organization’s financial management. The increased ACCA career opportunities and demand for ACCA members amongst employers result in competitive salary packages. However, the potential salaries offered in the UK and UAE are discussed below.
1. ACCA SALARIES IN THE UK:
The salary of each ACCA professional in the UK differs from one another depending on certain factors, such as candidates’ expertise, technical skill set, specialized certifications (if any), etc. If you have all the above-mentioned skills and expertise, you will become competent in the job market, attracting more ACCA career opportunities. However, usually, the average salary for ACCA-qualified professionals in the UK is around £35,000-£55,000 annually. Whereas, professionals in senior managerial level roles are offered around £70,000-£120,000+ yearly.
2. ACCA SALARIES IN UAE:
Just like in the UK, the salary package offered to ACCA professionals in the UAE depends on their experience, technical skills, and specialization. More skills lead to more ACCA career opportunities, which result in high potential salaries and senior roles. The average salary offered to ACCA-qualified professionals in the UAE is generally around AED 180,000- AED 300,000 per year. Whereas, the skillful ACCA professional in a senior role can earn something around AED 400,000 or more annually. The salary package can vary depending on a candidate’s prior professional experience. Another major benefit for ACCA professionals in the UAE is that their income is tax-free, which means they get to keep all that they earn.
ACCA CAREER OPPORTUNITIES AND MARKET DEMAND:
Before starting your ACCA professional journey in any country, it is quite important to know about the ACCA career opportunities the region offers. If the market demand for ACCA professionals is higher in a region, it automatically indicates that the region has great ACCA career opportunities for professionals. However, if the market demand is low, it means the ACCA career opportunities are fewer in the country.
1. ACCA CAREER OPPORTUNITIES IN THE UK:
In the UK, the ACCA career opportunities are higher in certain industries and sectors; such as, the demand for financial services is broader in sectors like banking, audit firms, fintech, and the public sector. Other than that, the UK job market offers many structured entry-level roles for fresh graduates, trainees, and ACCA affiliates. The UK’s work culture offers a well-structured career progression and is best for entry-level roles.
2. ACCA CAREER OPPORTUNITIES IN UAE:
The UAE offers many ACCA career opportunities, especially for experienced professionals and senior roles. The region is the hub of multinational organizations, real estate, oil & gas, and banking sectors, therefore, these employers seek skilled ACCA professionals to take over senior financial roles and stabilize their company’s financial management. The job market of the UAE is quite competitive, and candidates with Gulf experience are preferred in some cases.
WORK-LIFE BALANCE AND LIFESTYLE:
1. UK:
The job market and work culture of the UK offer a relaxed environment for employees; they are offered paid annual leave, job security, and employee protections. Other benefits depend on the employer and a candidate’s job title.
2. UAE:
The work culture of the UAE is considered a bit tougher compared to the UK because of longer working hours in some sectors. However, the living standard in the region is quite high, but some cities like Dubai and Abu Dhabi are quite expensive.
CAREER GROWTH AND RECOGNITION:
Alongside ACCA career opportunities, another major factor to be considered is career advancement opportunities in the region. Professionals look for ACCA career opportunities that offer career progression in the future. The ACCA qualification is well-recognized in both the UK as well as UAE, both regions acknowledge and value ACCA professionals because they comply with local and international regulatory frameworks.
Both regions offer great ACCA career opportunities and career progression. However, the UAE is more focused on providing candidates with global exposure. The UK strengthens a candidate’s regulatory exposure because of the high emphasis on laws and regulations in the region.
COST OF LIVING:
1. UAE:
The cost of living in the UAE is high as the region offers a high lifestyle, and expenses of living in the city are on the higher side; these expenses include housing, schooling, and healthcare. However, income tax is not deducted from a candidate’s salary in the UAE.
2. UK:
As compared to the UAE, the cost of living in the UK is lower as the healthcare and social security in the UK lighten the cost burden and make it a bit economical. Not to forget, the rate of income tax in the region is high, which deducts a good amount from a candidate’s salary.
FREQUENTLY ASKED QUESTIONS:
Q1: Are ACCA courses in the UK easily accessible?
Answer: Yes, the ACCA Courses in UK are easily accessible online because of the qualification’s global recognition. Many international ACCA-approved institutes offer their services through online learning platforms in the UK. Along with ACCA courses in the UK, these institutes also offer other benefits like reliable study material, pre-recorded video lectures, practice exams, expert tutor guidance, and personalized study plans.
Q2: Which industries in the UAE and the UK offer more ACCA career opportunities?
Answer: In the UAE, the industries that offer more ACCA career opportunities are the banking sector, real estate, hospitality, and oil & gas industries. Whereas, industries with high ACCA career opportunities are Public accounting firms, government sectors, healthcare, and manufacturing.
Q3: Which ACCA courses in the UAE help aspirants accelerate their professional journey?
Answer: To accelerate your professional journey, some ACCA Courses in UAE are quite helpful; these courses are from the Advanced level of ACCA (the Strategic Professional level). These ACCA courses include Strategic Business Leadership, Advanced Audit and Assurance, etc.
