Once you have finished your ACCA studies and attained your professional qualification, you are ready to take on the world of finance! But you might wonder, where do I start? What kind of career opportunities awaits me?
In this article, we will help you answer these questions by giving you an overview of the exciting roles an ACCA graduate can take on. As well as advice on how to find these opportunities.
Career Opportunities for Chartered Accountants
Here are some of the most prominent roles that you can take on as a Chartered Accountant:
As a finance manager, you can work for a company or an accountancy firm where you will be responsible for effectively distributing financial resources. This is done by collecting financial information, reviewing it, accurately interpreting the data, and presenting it concisely to the company’s decision-makers.
You will also create financial projections to provide a solid plan in case risks or opportunities arise. For instance, you will create a financial forecast for a specific product on whether to continue investing or try and create a new one that will provide better income.
The expected salary of a fully qualified management accountant usually ranges from £40,000 to £50,000. But if you are starting out and working as an accounts assistant, you can expect a salary of around £28,000 to £37,000 plus a benefits package.
Chartered Tax Adviser
If you choose to become a chartered tax adviser, you will be tasked with mitigating audit risks. To be able to do this, you should always be updated with the latest tax regulations and be deeply aware of all the company’s financial activities. This way, you can identify audit risks and address them immediately.
Your job is to assist companies in avoiding any penalty fees and legal action that can cost a lot of money and resources.
The typical salary of a tax manager usually ranges from £55,000 to £69,000 because of their essential role in a company.
This profession will combine your skills in both accounting and auditing in order to investigate criminal financial activities. You should also be able to analyse and present the financial data of a specific financial crime in a way that can be shown in a court of law.
Before pursuing this profession, ensure you are comfortable working in a courtroom setting and can work with law enforcement officials. You should also be able to think quickly and have strong communication skills. The expected salary of a forensic accountant is £35,000 to £50,000 per annum.
Suppose your goal is to become a Chief Financial Officer. In that case, you will be responsible for creating budgets, managing investments, and analysing financial data to make sound decisions on investments, taxes and other financial matters.
You will cover both the internal and external sides of financial reporting that will be presented to the board of directors.
Becoming a CFO takes work, as it requires a high level of competency in accounting and the ability to lead a team, manage risks, and make difficult decisions.
Given that this position is a senior role and requires a higher level of responsibility, the expected salary of a CFO usually ranges from £106,000 to £144,000 per annum.
This entails working as an accountant for non-profit organisations and collaborating with a charity team to ensure that the donations are used efficiently to meet the organization's goals.
For example, you will work with the charity organization to create a budget that outlines how much should be used for administrative costs, salaries, and marketing campaigns.
Or you might work as a trainee auditor and review documents to ensure that all donations are accounted for and that the organization follows the necessary financial regulations.
Working for non-profit organizations is an exciting opportunity to help those in need and positively impact the community.
As a financial analyst, you will be focused on making financial forecasts. You can do this by gathering information, creating reports and identifying trends from the financial data of a company. The main goal is to find profitable investment opportunities and provide ways to implement them flawlessly.
The expected salary of a financial analyst usually ranges from £48,000 to £59,000 because this career is one of the most in demand today.
Here, you will be responsible for helping organizations identify potential acquisition targets, negotiate potential deals and mergers, and even file for public offerings.
You will also be helping companies raise capital to start their business. For example, you will be creating a business plan so that it can be pitched to investors.
With their expertise in both economics and accounting, the salary of an investment banker usually ranges from £30,000 to £60,000 per annum.
Ways to Find Job Opportunities as an ACCA Graduate
To help aspiring accountants like yourself, we have made a list of where you can start:
ACCA Jobs Portal
Many employers looking for accounting personnel use this platform to post job listings and search for potential candidates.
It also offers career advice and valuable role insights, including average salaries, recruitment trends and a career path chart. ACCA is truly a global network offering exciting work opportunities not only in the United Kingdom but also abroad.
Online Job Platforms
Platforms like Linkedin and Indeed are great ways to search for accounting jobs. You can start by creating a profile highlighting your skills, experience, and qualifications. These platforms will also allow you to search for positions that perfectly match your interests and even apply for similar jobs directly to make the process easier and faster.
You can also use these platforms to network with other professionals and gain valuable insights into wherever industry you are interested in working for.
Company Websites - ACCA Graduate Training Programs
Many accounting companies offer ACCA graduate training programs, an excellent way to kickstart your career.
Graduates receive hands-on experience in various areas of accounting, as well as guidance and support from experienced professionals within the company. These mentors or supervisors help graduates navigate their roles, provide advice, and assist with professional development.
And if any part of the ACCA qualification is yet to be completed, the company may support graduates to prepare for and pass the remaining exams. This could involve study leave, hybrid working, financial assistance for exam fees, and access to study materials or resources.
Social Media Platforms
This might seem unconventional, but you can leverage social media platforms like Facebook to find job opportunities.
However, you should be aware that not all job postings on these groups are legitimate, so make sure that you do your research on the company to avoid wasting your time.
If you are an aspiring student, we hope this article pushes you to pursue an accounting qualification. And if you're a fresh graduate, we hope you find the career right for you, whether working in the corporate world or pursuing the non-profit route.
Are you ready to take your accounting career to a higher level? Contact us now here at VIVA, an award-winning provider of online ACCA and CIMA tuition.
With premium courses and hands-on study support from the best tutors, we assure you that you will be well-equipped to pursue your chosen qualification.
1 - https://uk.indeed.com/career-advice/finding-a-job/highest-paying-accounting-jobs
2 - https://jobs.accaglobal.com/