I want to study Masters in Accounting in the UK. After that I want to complete a chartered accountant course in UK. What is the scope and opportunity in UK?
Asked by Rohit Sen over 1 year ago
If you want to become a chartered accountant in a foreign country like the UK, there are certain things you have to go through. For starters a master course in accounting or finance. And judging by your choice for a master’s in accounting, I would say you are already on the right track. An accounting masters is the best way to become a chartered accountant.
Master courses like accounting and finance are accredited qualifications. In the UK, courses like these are supported by ICAEW (Institute of Chartered Accountants in England and Wales). These degrees basically provide you with relevant knowledge and skills for a chartered accountant profession. Also, it frees you from many papers in the professional exams.
As a chartered accountant in the UK, you can expect an annual pay of £40,000. This is equivalent to around 40 lakhs in Indian rupees. However this is not a fact for professionals. Professionals with experience earn like £84,500 (around 85 lakhs) on average. Plus, this is a profession that pays nicely on bonus. In general, UK jobs give a bonus from a range of £10,000 - £20,000. So you got some extra motivation.
The earnings and job market for chartered accountants in the UK is more than good. According to estimations, around 80,000 accounting jobs will be created in over three decades in the UK. Apart from that, you can work in finance too as a finance officer or financial analyst etc. To summarize, the jobs are available in enough numbers in the country and the demand is also good.
But to get the most scope, you have to have necessary skills. A chartered accountant is a role that needs general skills as well as profession specific. For example, skills like general business awareness, communications are essential. At the same time IT skills, arithmetic abilities, methodical approach are also an absolute requirement. This is one of the reasons why this profession is considered one of the most tiring to reach.
To become a certified CA in the UK, you must pass at least one professional accounting certification from accounting bodies. Your options here are;
ACCA – Chartered Certified Accountant
CIMA – Chartered Management Accountant
ICAEW – Associate Chartered Accountant
ICAS – Chartered Accountant
The masters you have chosen fits perfectly with your professional choices. If you need university recommendations, the best would be University of Edinburgh, Warwick, Durham and London School of Finance. If you need some more details on how to apply, what to prepare or what are some other options, you let me know. We can see which universities and courses fit your profile best.
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