A professional accountant is responsible for recording, reporting, interpreting, and analyzing financial records for interested parties. This profession is among the best-paying jobs in the world including countries like the UK and USA. They also earn low in some countries too. Therefore, qualified accountants looking to relocate overseas will find this article to be very helpful. The top 10 countries with the highest salaries for accountants are listed below for your convenience.
Accountancy may not represent the most exciting career choice in the world, but it’s definitely one of the most lucrative jobs around. Are you a certified accountant and are contemplating where to start? Do you stay at home or do you wish to move abroad? Fresh graduates should look to work in some of the world’s fastest-growing economies and financial services businesses. The need and the pay for financial specialists are not equal in different countries. We’ve put together a list of the 10 best countries with the highest salaries for accountants to help you out just in case you are planning to pursue your career aspirations as a global citizen.
How to Become an Accountant
Chartered accountants use their financial expertise to advise and report to managers in organizations across the public and private sectors.
Before we delve into the full list of countries with the highest salaries for accountants, it is important that you know the route to take if you are considering being an accountant
The six main steps needed to become a certified accountant are as follows:
1: Enroll in a degree program in accounting or business
2: Choose your career path
3: Find an internship
4: Complete your degree
5: Get certified
6: Find a job
Job Prospect For Accountants
According to the U.S. Bureau of Labor Statistics, the job outlook for accountants is bright – in fact, the anticipated growth is actually at a faster-than-average rate – with an 11 percent increase in available positions projected between 2014 and 2024. Learning how to become an accountant can provide a solid income in a field that’s always in demand.
Areas of Specialization in Accountancy
Like in many other professional fields, there are different niches an accountant can specialize in. The niche is numerous. Some of them include:
- Tax accounting
• Business Valuation
• Nonprofit Accounting
• Government Finance
• Environmental Accounting
• International Accounting
• Information Management and Technology Assurance
• Personal Finance Accounting
Top 10 Countries with the Highest Salaries for Accountants
- 10. Sweden
- 9. Norway
- 8. Australia
- 7. United States
- 6. Japan
- 5. Luxembourg
- 4. Canada
- 3. Switzerland
- 2. Ireland
- 1. United Kingdom
A person working in Accounting and Finance in Sweden typically earns around 46,500 SEK per month. Salaries range from 18,800 SEK (lowest average) to 93,300 SEK (highest average). This is the average monthly salary including housing, transport, and other benefits. Chartered accountants based in Sweden earn about 500,000 SEK a year, this includes other benefits.
Norway is one of the best places for young accountants to find jobs. The demand for skilled professionals in the financial sector in the country is high. Accountants are highly favored in this country because it has a very low level of unemployment with the emerging industries. The economy is very stable and workers are paid handsomely.
Chartered accountants in Norway with over 5 years of experience earn between 400k – 600k NOK per annum, making it one of the countries with the highest salaries for accountants.
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Australia has good job opportunities for accountants. It is one of the developed countries which offer good salaries and high-quality life. Australia’s major business centers include Sydney, Melbourne, Brisbane, and Perth. Its connections to other economies in the region enable it to provide a variety of financial services. With its cheap cost of living, affordable quality housing, comprehensive healthcare coverage, and one of the world’s best educational systems, Australia has a lot to offer.
Australia has one of the best minimum wages in the world at $9.54 (about £7.68). With an average salary for chartered accountants with years of experience being AU$ 70,000 – AU$ 140,000, Australia is one of the countries with the highest salaries for accountants.
7. United States
If you already live in the US, then chances are you don’t need to look elsewhere because the US is one of the countries with the highest salaries for accountants. Internships are a great way to get your foot in the door at some of the top accounting firms in the US. The Big four accounting firms are Deloitte, PWC, Ernst & Young, and KPMG.
The average salary for a CPA in the United States is $75,000 according to the National Association of Colleges and Employers. When one gains more experience, this can rise to over $125,000 annually.
Japan is reputed for having a strong business-oriented culture and is one of the countries with the highest salaries for accountants. If you are relocating to Japan, then your English language skills will be highly sought-after. In order to register as a licensed practitioner under the Japanese Institute of Certified Public Accountants (JICPA) You will need to sit several exams, all of which are in the host language.
A newly qualified accountant earns at least 5.5 million JPY annually. Those with higher experience earn an average of ¥9 million yearly.
Luxembourg is among the top countries with the highest salaries for accountants. The country entices foreign workers with its high quality of life and above-average compensation. Foreign professionals are expected to be fluent in English because of the high demand for bilingual applicants. Language skills in French and German are also very desirable.
The starting salary of accountants with little to no experience is at €27,000 and as one gain experience, it can rise to more than €85,000 a year and €110,000 a year for a financial controller.
With a high standard of living, the Canadian economy is one of the most stable in the world. The best-paying cities for accountants in Canada are Toronto, Vancouver, Calgary, and Edmonton, where the average salary is CA$150,000 annually.
Canada is an important part of the global and North American economies, with a large number of natural resource and mining jobs that lend themselves to specific investments, financial decisions, and managerial finance activities.
The Swiss economy is built upon finance, banking, and professional services, making the country one of the most highly sought-after destinations for accountants. A sizeable amount of its workforce is employed in the financial services sector, making up 10.5% of its total GDP.
The minimum salary of an accountant starts from CHF65,000 annually and this increases to CHF120,000 when a person gets over 15 years of experience. Consolidation managers are the highest paid in this profession with an average salary of CHF150,000 a year.
The average annual salary for a new accountancy graduate in the Republic of Ireland is €60,000, but as one gain more experience with more responsibilities, the annual salary rises to €108,00. For those with less than five years of experience in accounting, the average package stands at €50,000.
1. United Kingdom
The United Kingdom clearly tops our list of the top 10 countries in the world with the highest salaries for accountants. The financial sector in London is one of the greatest and largest in the world, with opportunities for accountants at all levels. Private practice accountants have the potential to earn anywhere between £18,000 and £100,000 (depending on experience).
In terms of employment competitiveness, the weight of financial trends and decisions, and the requisite pedigree of those who will be hired to make these critical judgments, London is frequently compared to New York.
These places can be the perfect fit for you if you’re seeking a new place to start your career or want to add a little excitement to your accounting career. We’ve compiled a list of the top 10 nations with the highest wages for accountants to assist you in making an informed decision about which nation you may relocate to and work as a chartered accountant while earning a good salary. Moving overseas involves more than just financial considerations; you need also think about how it will affect your job and if it will fit into your personal life.