If you have been looking for information on chartered accountant salary read on as we have all the latest information here.With the fast progression in economy, jobs in accounts have gained a lot of interest and the most prominent profession in this field at the moment is that of a certified chartered accountant. Unlike other professions, the job of a chartered accountant is not only challenging and dynamic but also extremely rewarding.
Every country in the world has its own professional body that regulates the measure and quality of the specialists in this field. In the UK, the main Accountancy Associations are Institute of Chartered Accountants in England & Wales (ICAEW), Institute of Chartered Accountants of Scotland (ICAS) and Chartered Accountants Ireland (CAI). In simple terms, a chartered account is a person who specializes in corporate finance, taxation, forensic accounting, bankruptcy, auditing in addition to business recovery.
Despite what you may have heard, a chartered accountant salary is not the same everywhere in the UK. There are several factors which determine how much a chartered accountant is paid such as the city you are working in, the dimension of the firm you are working for and sector. For instance, a chartered accountant employed in a multinational bank located in London is likely to earn more than that of a chartered accountant employed by the government working in Stoke City Council. Other elements which may greatly influence a chartered accountant salary are pension, shared returns and bonuses.
Chartered Accountant Remuneration & Provisions
The starting remuneration of a chartered accountant may vary significantly. As stated earlier, this hinges on the location, dimension of the company as well as the sector. Incomes for chartered accountant trainees vary from £18,000.00 to £25,000, even though these figures could be slightly higher in major cities and lower in smaller towns.
The average pay of a chartered account 2 years after certification is roughly £42,000.00 whereas the average pay for all chartered accountants is roughly £72,000.00.
In the UK, chartered accountants located in London and the South East, are paid more money compared to chartered accountants located elsewhere.
Accountant salary packages also comprises of allowances such as health insurance, entertainment benefits, paid holidays, shared profits, pensions and car benefits.
To qualify as a chartered accountant, it is imperative that you undertake a three year training contract. A chartered accountant course is extremely demanding if you are to balance your day job, family and studies. If you are working at an accountancy firm as a trainee you will need to train hard and study in your own spare time.
Working hours differ hinging on the position and the firm one is working for. Unlike other professions, the official working hours are not restricted to 9 to 5. A chartered accountant may find himself working extra hours in the evening as well as during the weekends so as to meet set targets. This is quite common in large organizations. Still, the additional time come with added benefits.
Chartered accountants who work as independent consultants for various companies and government ministries make more money than those employed by local companies.I hope this article gave you all the information you required on chartered accountant salary and benefits.Also see our chartered accountant salary video.