ACCA Salary Insights and Opportunities in Singapore 2024

In Singapore’s bustling financial landscape, the Association of Chartered Certified Accountants (ACCA) holds significant weight for those aspiring to build a career in accounting and finance. ACCA certification not only enhances one’s skills but also opens doors to lucrative opportunities in various industries.

In this article, we will discuss about studying ACCA course in Singapore, career opportunities, and the potential ACCA salary in Singapore Accounting and Finance landscape. 

Table of Contents

Why study an ACCA Course in Singapore?

As Singapore emerges as a leading financial and logistics hub, it ensures access to mentorship from esteemed faculty and opens doors to a variety of international job opportunities. Additionally, amidst a surge in start-ups within the financial accounting sector, the demand for ACCA professionals is on the rise. Despite a decline in interest in the profession within Singapore, projections indicate that by 2025, the demand for accounting jobs could reach up to 7,000.

Furthermore, ACCA affiliation fosters partnerships with top universities and premier employers like Credit Suisse, Grant Thornton, BDO, and others who actively seek for ACCA-certified candidates. 

Benefits of Studying ACCA in Singapore

Given how quickly the accountancy industry is expanding, this has naturally increased demand for ACCA practitioners. Here are five main benefits you can expect when you study ACCA course in Singapore:
  • Global Recognition: ACCA certification is globally recognised, opening doors to international job opportunities across 178 countries.
  • Industry Demand: The surge in startups and established firms alike fuels the demand for ACCA professionals.
  • Potential Employers: Reputable companies like Credit Suisse, Grant Thornton, BDO, and the Big Four accounting firms actively seek ACCA certified professionals.
  • Accessibility: Non-finance backgrounds can pursue ACCA as well, making the journey to ACCA beginner friendly.
  • Flexible Path: ACCA allows candidates to pace their qualification completion within three to ten years.

Top 10 Career Opportunities with ACCA in Singapore

Embarking on your professional accountancy career with Banking and Finance companies can become easier if you have completed an ACCA course in Singapore. The following is a list of accounting specialties you can pursue, along with the important contribution they make to building a solid ACCA career:
  1. Financial Analyst: Conduct financial analysis, interpret data, and provide insights to support strategic decision-making within the organisation.
  2. Auditor: Perform financial audits, assess internal controls, and ensure compliance with regulatory standards and accounting principles.
  3. Tax Consultant: Offer tax planning advice, prepare tax returns, and assist clients in maximising tax efficiency while ensuring compliance with tax laws.
  4. Management Accountant: Prepare financial reports, analyse budgets, and provide insights to help management make informed decisions about resource allocation and performance improvement.
  5. Finance Manager: Oversee financial activities, including budgeting, forecasting, and financial reporting. Provide strategic financial guidance to support organisational goals.
  6. Risk Manager: Identify potential risks to the organisation’s financial health, develop risk mitigation strategies, and implement risk management policies and procedures.
  7. Financial Controller: Manage financial reporting processes, ensure accuracy and compliance with accounting standards, and oversee internal controls within the organisation.
  8. Business Analyst: Analyse financial and operational data, identify trends and opportunities for improvement, and make recommendations to enhance business performance and efficiency.
  9. Treasury Analyst: Manage cash flow, liquidity, and investments, analyse financial risks, and develop strategies to optimise the organisation’s financial resources.
  10. Consultant: Provide advisory services to clients on financial and business matters, conduct research and analysis, and develop solutions to address client needs and challenges.

ACCA Salaries in Singapore

ACCA professionals in Singapore command competitive salaries, which vary based on experience and industry:
  • Entry-Level Positions: Starting salaries range from SGD 30,000 to SGD 50,000 per year.
  • Mid-Level Professionals: Experienced ACCA members can earn between SGD 60,000 and SGD 90,000 annually.
  • Senior Professionals: Senior positions such as Finance Managers or Directors offer salaries upwards of SGD 100,000, with top roles in large corporations exceeding this figure.

Industry-Wise Salary Difference

The salary landscape for ACCA professionals varies across industries in Singapore:

  • Financial Services and Banking: Offers some of the highest salaries, ranging from SGD 70,000 to well over SGD 120,000.
  • Public Accounting and Auditing Firms: Competitive salaries ranging from SGD 50,000 to SGD 100,000.
  • Corporate Sector: Salaries range from SGD 55,000 to SGD 95,000.
  • Government and Public Sector: Stable salaries range from SGD 50,000 to SGD 80,000.

Jobs by Salary per Year

Apart from the industries, the salaries also vary from the job scope and title. Below are some of the salaries by job per year in Singapore:

Job TitleRangeAverage
Junior Accountant-$38,880
Associate Auditor$2k - $43k$32,317
Auditor$39k - $59k$34,200
Senior Auditor$37k - $54k$44,543
Management Accountant-$150,000
Finance Manager$42k - $115k$79,172
Accountant $26k - $79k$53,517
Financial Analyst$38k - $73k$57,600
Senior Tax Consultant-$81,600

*Information taken from payscale 2024

ACCA courses in Singapore are tailored for individuals aspiring to enter the accounting sector, providing a solid foundation for successful employment. Explore the ACCA courses offered by Spring Training to access academic content that delivers a robust understanding of finance and accounting matters relevant to the industry.

If you are looking to apply for a new position with the ACCA qualification, you can check out the jobs offered under ACCA Global official website too.

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Author: Verlin You

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