Chartered Accountant Salaries
By Carol Wiley, Accountingedu contributing writer
Updated April 2013
In Canada, the United Kingdom, Australia, and a number of other countries, a chartered accountant is the equivalent of a Certified Public Accountant (CPA) in the United States.
Canadian Chartered Accountants
A 2011 survey of a self-selected sample of 15,544 Canadian Institute of Chartered Accountants (CICA) members conducted by the CICA and the Provincial Insitutes/Ordre found that the average chartered accountant salary in Canada was $181,203 (Canadian dollars).
The survey found the highest average salaries among chartered accountants who owned their own non-CA firm business was $394,116, while CAs who were partners in a CA firm earned as much as $303,075. The average salary for non-owner CAs was $165,127, while sole practitioners earned an average of $181,303.
Another finding was that CAs working outside Canada had the highest average salaries, at $300,218, while the provinces with the highest average salaries were Alberta at $212,836 and Ontario at $182,898.
As of 2011, the average total compensation for Canadian chartered accountants working in various fields was as follows:
- Industry - $229,318
- Professional services - $150,039
- Not-for-profit organizations - $136,389
- Government - $120,608
- Education - $119,366
For chartered accountants new to the field, the average total compensation was $67,921 in 2011.
United Kingdom Chartered Accountants
In 2012, the average annual basic salary of chartered accountants in the United Kingdom was £92,100, while the median salary was £78,000, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW), which has more than 138,000 members around the world.
ICAEW considers the median more representative of chartered accountant salaries, because a few high-earners inflated the average.
The highest accounting salaries in the UK were in the banking and capital markets industry, where the average basic salary was £111,700 as of 2012. The next two highest paying industries in the UK were insurance and energy, water, mining, and utilities.
Just as is the case with Canada, UK-based chartered accountants working in other countries had the highest salaries, earning £128,300 as an average basic salary, plus earning an average yearly bonus of £35,600.
Chartered Accountants in Other Countries
In New Zealand, a 2011 remuneration survey by the New Zealand Institute of Chartered Accountants found that the average salary was $135,350 (NZ dollars). The highest pay was for partners in large accounting firms, who earned an average of $318,530.
In South Africa, according to a 2012 report issued by the recruitment consultancy Robert Waters, newly qualified Chartered accountants earn 450,000 to 480,000 Rand, while those with three to five years of experience earn 550,000 to 700,000 Rand. (As of November 2012, 450,000 Rand equals about $52,000 U.S. dollars.)
In India, chartered accountant is one of the top ten highest paying jobs, according to Chakreview.