How much should you be earning post-ACCA in Dubai

Dubai is the world’s new hotspot for business and finance.

A growing economy driven by trade, tourism, and oil, Dubai has clearly emerged into the spotlight in recent years. Setting up of Free Trade Zones and the presence of an international air cargo hub and two of the world’s largest ports has further given a push to progress in Dubai.

Growth in new projects and developmental initiatives has inspired a strong hiring trend marked by 20% increase in job opportunities in specific sectors.

Dubai’s thriving job market offers a basket of opportunities for ACCA-qualified professionals. The city is home to the corporate headquarters and regional offices of several multinational companies and financial institutions.  ACCA-qualified professionals can land plum jobs in the Construction, Petroleum, Transport and Communication, Tourism, and Manufacturing industries.

ACCA Salary in Dubai : The Career Scope

Voila! You are an ACCA-qualified candidate. Or about to become one pretty soon.

So how will your career take shape in Dubai? What are the opportunities and possibilities you can explore? Read on to know more.

Well, with the corporate and financial landscape growing, businesses in Dubai are looking for accounting and finance professionals in growing numbers. Moreover, with Dubai being home to both multinationals and start-ups, finance jobs are in high demand. Accounting professionals with skills and experience in specialist domains can cherry pick lucrative jobs in Dubai.

Let’s take a quick look at how your ACCA qualification can be your ticket to working in Dubai and what are the different different job roles you can perform:

• Accountants

An accountant helps businesses make critical financial decisions by collecting, tracking, and correcting the company’s finances.

Accountants essentially perform account analysis, review financial statements, documents, and other reports, conduct routine and annual audits, review financial operations, prepare tax returns, advise on areas that require more efficiencies and cost-savings, and provide risk analysis and forecasting.

Fresher annual salary:  AED 32,000 

• Financial Accountants

A financial accountant is responsible for managing the accounting and financial activities of an organization.

Primary duties of a financial accountant include preparing financial statements and reports and advising company leaders on investment practices and strategies.

Average annual salary: AED 1,32,000

• Investment Advisors

An investment advisor is a financial professional that makes investment recommendations or conducts security analysis. They provide advice to clients about investing in securities such as stocks, bonds, mutual funds, or exchange traded funds. Some investment advisors also manage portfolios of securities.

Average annual salary: AED 370000  

• Accounting Advisors

An accounting advisor is a finance professional that brings to the table unique knowledge and experience from tax planning and strategy to counsel on tax-related legislation. They provide valuable guidance that facilitates streamlining of accounting processes, helps improve profitability, and enhances overall decision-making.

Checkout – ACCA jobs in Dubai on ACCA’s Official Website 

• Taxation Experts

A tax advisor offers various tax consulting services to both individuals and businesses. A tax advisor combines their knowledge of tax law and finance with skills in accounting, auditing, and effective planning to minimize tax liabilities for the organization or client.

Average annual salary:  AED 2,64,000

• Budget Managers

For a commercial enterprise,   effective budgeting can be the difference between success and failure. A budget manager is responsible for requesting budget changes, submitting transfers, approving transactions, and requesting payments. They also need to develop complex budgets, track planned and unexpected spending, and make recommendations based on financial data.

Average annual salary: AED 42,0000

• Forensic Accountants

A forensic accountant analyzes the financial records of organizations or individuals accused of engaging in illegal activity or financial misconduct. They apply a synergy of skills in accounting, auditing, and analytics for their investigations. They investigate financial crimes, present reports on their findings, and may be called as expert witnesses in court.

Average annual salary: AED 95,865

• CFOs

The term chief financial officer (CFO) refers to a senior executive responsible for managing the financial actions of a company. The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions.

Also referred to as a corporate finance manager, the CFO administers all of the business’s financial decisions, working with team members on the financial staff to identify and generate new revenue streams and identify potential fiscal opportunities.

Average annual salary: AED 530,983 

• Auditors

An auditor inspects organizations’ financial accounts to ensure they’re accurate and in line with the law. They can also act in an advisory role to recommend risk aversion measures and cost optimization.

Key functions of an auditor include examining company accounts and financial control systems; checking financial reports and records and ascertaining that they are accurate; gauging levels of financial risk within the organization, etc.

Fresher annual salary: AED 57,000  

Also Read – Countries where ACCA holders have the signing authority

ACCA Salary in Dubai for Select Job Profiles

The following Table illustrates the salary drawn by ACCA-qualified  candidates working in Dubai at different posts and at different stages in their career:.

Did you know, Proschool students solve 600+ questions for each ACCA subject? This helps them to pass the ACCA exams with ease

Thinking Beyond ACCA Salary in Dubai: Advantages of an ACCA Career in Dubai

• Freedom from Taxation!

The entire Middle East is a tax-free region. As a citizen working and living in Dubai, you are exempt from paying personal income tax, capital gains tax, inheritance tax, and stamp duty. Consequently, you end up saving more from your monthly salary, leading to a higher disposable income, and eventually, a superior lifestyle.

• Splendid Salaries; Prolific Packages

As an ACCA-qualified professional, you can command a hefty pay package in Dubai. For instance, the average annual pay for a finance professional armed with an ACCA certificate is AED 91,000 (INR 20,48,097), which is indeed a handsome amount by any reckoning. Though your experience and industry sector play a decisive role in determining your package, it is nevertheless a rewarding sum. The best part is you don’t have to pay any tax whatsoever on your income – how good can it get?!

• Accelerated Career Growth

80% of the population of Dubai consists of expats, and this imbalance causes a significant skill shortage. Major global organizations have their base in Dubai, making it ideal for ACCA certified finance professionals to find lucrative jobs. Dubai is one of the select few places in the world where you can kick start your career with a respected managerial post.

• Ample Opportunities

Dubai being home to a multitude of global organizations, there is always a demand for talent in the accounting & finance domain. It is a healthy job market and ACCA professionals can take their pick from several job openings that best suits their profile

• Global Exposure

Dubai is a melting pot of people, professions, and proficiencies. It is a place where experts and specialists from different domains and geographical locations converge, connect, and collaborate. It is a stimulating environment at the workplace that gives you valuable global exposure.

• A Lifestyle Marked by Leisure and Luxury

As a resident, you can enjoy a luxurious and indulgent experience of Dubai with its opulent stays, cherished sightseeing destinations, extravagant cuisine, splendid desert safaris, and exciting night life at the numerous hi-end clubs!

This is only half the story! To know more about the amazing advantages of working in Dubai

Why are ACCA Candidates in High Demand in Dubai?

ACCA finance and accounting professionals are always in demand in Dubai. They are preferred for their exceptional knowledge and skills, and historically they have been among the most paid professionals.

As can be seen from the above visual, the ACCA course is structured so that the focus is always on developing core financial subjects and domain knowledge. This is the clincher that makes Dubai employers seek more ACCA-qualified aspirants for their companies’ accounting and finance job roles.

Also Read – How tough is it to pass the ACCA exam?

Get the Edge of Excellence with Proschool’s Proven ACCA Training Program

Enrolling with IMS Proschool not only helps you complete your ACCA course with outstanding rankings but also allows you to learn exceptional practical skills such as Financial Modelling for free. The program is designed to train undergraduates and graduates in accounting and soft skills.

Some of the select reasons why Proschool’s ACCA program makes sound sense to both students and parents:

1. 12000+ trained in Accounting and Finance
2. They could save on registration fees and training costs
3. Proschool helps in getting exemptions
4. Classroom training available in 10 cities
5. Exam pass commitment – Proschool offers unlimited classroom and doubt-solving sessions in case you fail ACCA Exams
6. ACCA Demo Class Available
7. Extensive Pool Of Questions – Students solve 600+ questions for each of the ACCA subjects which helps them ace the exams easily.
8. Faculty from Barclays, Standard Chartered, Crisil etc., with 80+ years of combined experience
9. Financial Modeling worth Rs 40k free
10. The batch starts every month

Delightful Dubai!

There are a multitude of factors and reasons that undoubtedly make Dubai the new ‘Promised Land’ for ACCA candidates.

Set your sights on Dubai and all that the glittering city can offer. Start your ACCA journey with Proschool. 

FAQs

1. What is the salary of ACCA in Dubai?

The salaries for ACCA professionals in Dubai can vary quite a bit depending on the role and experience. For instance, a financial accountant might earn around AED 132,000 annually on average, while an investment advisor could be looking at around AED 370,000. It’s quite a range, isn’t it? And if you’re at the top of the ladder, like a CFO, you could be making around AED 530,983 annually. So, it’s safe to say that ACCA professionals in Dubai do have the potential to earn attractive salaries.

2. Is there demand for ACCA in Dubai?

Oh, absolutely! Dubai’s economy is booming with sectors like construction, petroleum, transport, tourism, and manufacturing all growing. This growth drives demand for skilled accounting and finance professionals. ACCA-qualified candidates are particularly sought after because of their comprehensive training and global recognition. So, if you’re ACCA-certified, Dubai could be a land of opportunities for you.

3. Is ACCA valid in Dubai?

Yes, it is. ACCA (Association of Chartered Certified Accountants) is a globally recognized qualification, and Dubai recognizes and values this certification highly. This is particularly relevant in Dubai’s diverse and international business environment, where companies from all over the world operate.

4. Which is better CA or ACCA in UAE?

This can be a bit subjective and depends on your career goals. CA (Chartered Accountant) is more focused on the Indian accounting standards and practices, whereas ACCA is more internationally oriented. If you’re looking at working globally or in multinational companies in the UAE, ACCA might give you an edge. On the other hand, if your focus is more on working within the local UAE market or with firms that deal primarily with Indian accounting practices, CA could be more beneficial.

5. What is the salary of ACCA fresher in Dubai?

For freshers just starting out, the salary can be more modest compared to experienced professionals. As per the blog, a fresher in an accounting role might start with an annual salary of around AED 32,000. It’s a starting point, and the good news is that there’s a lot of room for growth in this dynamic market.

Hope that gives you a clearer picture of the ACCA landscape in Dubai!