According to a recent survey by ACCA – largest accountancy body by students’ numbers – part qualified ACCA students can earn up to Rs. 80,000 to Rs. 100,000 despite the poor economical conditions and tough job market.
Salaries and Benefits
According to the published survey – Just under half (45%) of students in Pakistan received a pay rise in the preceding 12 months, compared to 63% globally. Only 1% suffered a pay cut.
Pay increases were more common in the public and corporate sectors and in financial services (54%, 57% and 57% respectively) than in public practice (25%).
Only 24% of students in Pakistan received a bonus (against 50% globally). Among bonus recipients, 56% gained a bigger sum than in the previous year, and 61% saw their bonus increase by 6% or more, perhaps reflecting the relatively high inflation rate in Pakistan.
Based on reported salaries, ACCA students and affiliates in Pakistan have good prospects, and can increase their earning power while they study: students with more than five years of experience earn three times as much as students with less than two years of experience.
Students in Pakistan perform a variety of roles and are able to focus on getting the experience needed for conversion to membership. Salaries vary greatly, but those in the most senior roles as part qualified accountants can earn up to PKR 80,000 / 100,000 a month.
Students are positive about their future pay prospects: two thirds (67%) expect to receive a pay rise in the next 12 months, with 65% of these anticipating an increase of at least 11%. A significant proportion expect to receive a pay rise or a promotion after passing exams or achieving ACCA membership.
Study leave is the most common benefit, received by 47% of students overall in Pakistan (and by 62% in public practice).
Other common benefits include healthcare (received by 26%) and travel benefits / allowances (23%). Study leave is also the most valued benefit, ranked highly by 43%.
Students in Pakistan typically work 47.5 hours a week, longer than the global average (44 hours).
Career and Ambitions
Students in Pakistan are highly mobile. Four in ten (40%) have previously worked in a different sector, while over a third have changed roles in the past 12 months – 58% within the same organisation. Their key drivers included increasing their salary (27%), changing career direction (21%) and obtaining promotion (19%).
The ACCA Qualification helped students achieve their new roles: 58% said it reassured their employer of their technical or business skills, and in a third of cases it was a prerequisite for the job.
ACCA students in Pakistan are ambitious: 80% plan to continue in their area in a more senior role, and 79% to lead a finance team. They are keen for new experiences, 68% aiming to work in a different area of finance or service line, but they also see opportunities as specialists – 73% anticipate working in a specialist finance role. 87% of students plan to work in another country,
capitalising on the portability of the ACCA Qualification and the international opportunities it opens up.
Entrepreneurial interest is also strong, with 69% of students considering starting their own business.
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