A chartered accountant is a professional who has passed the CA exam and the required education in his or her country of certification. He is responsible for recording, reporting, interpreting and analysing financial records for interested parties.
Some of the institutions that certifies chartered accounting professionals are Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants of India (ICAI) and the Canadian Institute of Chartered Accountants (CICA). You can check out the list of professional accounting bodies across the world. Chartered accountants are experts in IFRS and other international accounting standards.
Top 10 Countries With The Highest Chartered Accountant Salary In The World
The amount of salaries paid to chartered accountants around the world differs. In some countries, accountants earn high while some earn low in some countries too.
Therefore, if you are a certified accountant and thinking of relocating to practice in a country that pays high accountant salary, this list will guide you to make the right choice.
1. UNITED KINGDOM
Average Salary – US$165,000
The average salary and bonus of Chartered Accountants in London, UK is around £135,000. The basic salary is around £105,000. The highest paid accountants in the UK work in the banking and capital markets sector. Their average salary and bonus stands at around £170,000. As a chartered accountant, the UK is the best country to practice and earn enough money.
Also Read: Top 10 Small Accounting Firms In London, UK
Average Salary – US$132,000
In Ireland, accountancy is one of the largest single employer for new graduates. For those with less than five years experience in accounting, the average package stands at €60,000. As one gains more experience with more responsibilities, the annual salary increases to €108,00.
Average Salary – US$120,000
The minimum annual salary of an accountant in Switzerland is CHF65,000 and this rises to CHF120,000 when one gains over 15 years in experience. In this profession, consolidation managers are the highest paid with an average salary of CHF150,000 annually.
Average Salary – US$113,000
According to a survey conducted by CPA Canada, a CPA with over 15 years experience earns an average of CA$150,000 annually. The top paying industries for accountants are holding conglomerate, mining and oil & gas. CPAs in Calgary, Toronto and Edmonton are the highest paid in Canada.
Average Salary – US$104,000
Luxembourg is a top player in investment funds and investment center in the European Union. Some multinationals have established their headquarters in Luxembourg, hence many jobs have been created in the field of accounting and management control. The start-up salaries for accountants with little to no experience is about €27,000 and as one gains experience and gets more job responsibilities, it can rise to more than €85,000 annually and €110,000 annually for a financial controller.
Average Salary – US$85,000
IFRS, JMIS, US GAAP and Japanese GAAP is the primary accounting standards in Japan. To be a registered accounting practitioner, you need to be certified by the Japanese Institute of Certified Public Accountants. A newly qualified accountant earns at least 5.5 million JPY annually. Those with higher experience earn an average of ¥9 million yearly.
7. UNITED STATES
Average Salary – US$75,000
In the United States, the Big 4 accounting firms are Deloitte, PWC, Ernst & Young and KPMG. The average salary for a CPA in the United States is $75,000 according to the National Association of Colleges and Employers. When one gains more experience, this can rise to over $125,000 annually.
Also Read: How To Become An Accountant Without A Degree
Average Salary – $US75,000
In Australia, Chartered Accountants with over four years of experience have a salary range of AU$70,000 – AU$140,000. Cities in Australia with the highest wages are Sydney and Melbourne.
Average Salary – US$62,000
Chartered accountants in Norway with over 5 years experience earn between 400k – 600k NOK per annum.
Average Salary – US$52,000
Chartered accountants based in Sweden earn about 500,000 SEK a year, this includes other benefits.
With this comprehensive list of the top ten countries with the highest accountant salary in the world, I believe that it will help you make a swift decision on the country you can migrate to and earn good pay as a chartered accountant.
FAQs and Answers on Top Countries With The Highest Chartered Accountant Salary In The World
Here are some frequently asked questions (FAQs) and answers about the top countries with the highest Chartered Accountant salary in the world:
1. Which countries offer the highest Chartered Accountant salaries?
The countries that typically offer the highest Chartered Accountant salaries are the United States, Canada, the United Kingdom, Australia, and Switzerland.
2. What factors contribute to the high salaries of Chartered Accountants in these countries?
Several factors contribute to high Chartered Accountant salaries, including the country's economic strength, demand for accounting professionals, cost of living, and the complexity of financial regulations in the region.
3. How does the United States compare in terms of Chartered Accountant salaries?
The United States is known for offering competitive salaries to Chartered Accountants. Factors such as a strong economy, diverse industries, and complex financial regulations contribute to this.
4. What about Canada? Is it a lucrative destination for Chartered Accountants?
Yes, Canada is considered a lucrative destination for Chartered Accountants. The demand for accountants in various sectors, including finance and technology, has led to competitive salaries.
5. Are there any specializations within Chartered Accountancy that can lead to higher salaries?
Yes, specializations like forensic accounting, management accounting, and financial analysis can lead to higher salaries due to their specialized skills and expertise.
6. Do Chartered Accountant salaries vary within a country?
Yes, salaries can vary significantly within a country based on factors such as location (urban vs. rural), years of experience, industry, and the size of the employer.
7. How can I maximize my Chartered Accountant salary potential?
To maximize your salary potential as a Chartered Accountant, consider pursuing additional certifications, gaining experience in high-demand industries, and staying updated with the latest financial regulations and technology trends.
8. Are there countries with a high demand for Chartered Accountants but lower salaries?
Yes, some countries may have a high demand for Chartered Accountants but offer lower salaries due to factors like a lower cost of living or economic conditions.
9. What qualifications are required to become a Chartered Accountant in these top-paying countries?
The qualifications and requirements to become a Chartered Accountant vary by country, but they typically involve completing a recognized accounting program, passing professional exams, and gaining relevant work experience.
10. Are there any tax considerations for Chartered Accountants working in high-salary countries?
Yes, tax considerations can vary significantly by country. It's advisable to consult with a tax professional or accountant to understand tax implications and optimize your financial situation when working abroad.