Earning potential of an ACCA as auditor in UAE

[khani]

Do you people think that ACCAs` are earning the same Ks` in UAE as a CA is earning in pakistan as auditor?Mr pracs and Kamran ACA are requested to answer specialy

[kamranACA]

Dear,

ACCAs have good acceptance at UAE and Gulf. Earnings first of all depend upon destiny and then on one's efforts.

If you are asking about CA or ACCA, I can quote you an example. One of my friends having ACCA and almost two years industrial experience joined an audit firm at Dubai. He is being paid 9,000 Dirhams. I expect this figure should rise with the passage of time and go beyond 15,000 dirhams in two or three further years.

A qualified Paki CA with two to three years experience is not expected to work below 15,000 dirhams. Having 4 or 5 years experience this figure goes to 20,000 to 25,000 dirhams. Whereas, the considerablly experinced CAs are earning almost 30,000 dirhams.

In my view, ACCA earns well at UAE if he gets some good job/chance. Same is the situation for CAs at Dubai. At the moment almost 190 Pakistani CAs are working at UAE that is a good figure and they are earning in the range of 12,000 dirhams to 30,000 plus dirhams.

The major job bank is at Dubai. In fact Dubai is very costly and one has to expense out almost 3,500 to 4,000 dirhams for his residence only and this residence does not mean a home like pakistan. It means only one or two rooms flat with one common wash room and one kitchen. There are also some benefits like tax free salaries etc.

Therefore every one before going to Dubai should make an estimate of his cost of living and style of living. Then one can judge that would his expected earning be sufficient to meet his expected expenses.

However, Ajman is a best option for residence but such a decision would involve the traveling of almost one plus hour in the morning and one plus hour in the evening for coming to Dubai and getting back to Ajman.

Dont be worried to get into Dubai if you are an ACCA. You will find a good job Inshallah.

Regards,

Kamran.

[kamranACA]

Dear,

If your question is focussed on audit only, then you have to see my answer to your other post in the same sub group. I referred some local partner requirement and initial investment estimation. You have to expense out 50,000 dirhams (almost Rupees 800,000) for getting practice permission and have to engage one local partner if you wanna start your practice. Initial investment will be of Rupees 1,500,000 to 2,000,000 almost.

Earning is good at dubai for auditors. Normally small firms have hired agents who are normally MBAs. These guys search the markets to locate the people who want to get their accounts prepared and audited by some firm for their banking reasons.

Such MBAs find clients for the smaller firms and finalize the deals between them. They get their commission on such services. This seems to be un-ethical but this happens in Dubai.

This way these small audit firms earn well. There earnings are normally from 30,000 dirham to 60,000 dirhams per month where two partners are working on full time basis. Little bit established smaller firms even earn more than 80,000 dirhams per month but it depends upon PR, time factor and agents hired.

This all is inside information which normally people dont much know.

Hope you can understand the situation at Dubai etc.

Regards,

Kamran.

[Schuaeb]

Kamaran you seem to have a good insight about practicing in UAE, this may be because of, as you mentioned in another post, you planned to start practice over there.

One thing I would like to make sure, you mentioned that cost of living are really high there, fine enough. But you said that 3,500 to 4,000 dirhams are to be spent as house rent. But I guess you are talking about rent per annum, whereas, the amounts of salaries you referred to were on monthly basis

[zulfiqar_halari]

Schuaeb, Mr Kamran is absolutely rite when he mentioned AED 4000. It is on per month basis, not annual basis. On annual basis, rent start from AED 60,000 to AED 180,000. Dubai is expensive. Regards

[kamranACA]

Dear Shoaib,

I was talking about per month rent.

A home (flat) in Dubai having only two bed rooms (in some cases one bed room), one kitchen, one bathroom and a little common room or entrance lobby normally costs 3,500 derhams to 4,000 derhams per month.

Normally people get such flats if they intend to settle with families. Otherwise, guys collectively hire accomodations. Means three or four friendz get such flat collectively and share the cost.

When I made a study to settle at Dubai with my family, I estimated my monthly cost to be at least 8,000 to 9,000 dirhams at least where major component was house rent and then utilities. Food is not so costly at Dubai. Therefore any earning below 18,000 dirhams was not acceptable for me. I still have a plan for Dubai and might some day practice my plan.

Regards,

Kamran.

[A380]

Agree with Kamran accomodation is getting more expensive day by day and currently rent is around 3000-4000 of one furnished room + kitchen + bathroom in an avg area and is expected to increase extensively in coming years. As mentioned, Ajman is comparatively cheaper, also sharjah is cheaper than dubai but is expensive than ajman. However if you want to live with your family, earning target depends on your style of living.

[Schuaeb]

As I had never been to Dubai, so I do not have the idea about the situation there. | just wanted to confirm the figures you mentioned.

But I can compare the situation with KSA. Saudi Riyal is almost equal to Emiratte Dirham. You can have a reasonable accomodation for your family for SR 15,000 per annum and in various cases lesser than that. I am talking about Jeddah, the second largest city, and taking about 90s (but unlike Pakistan prices do not change very rapidly there). My father was a Saudi Airline employee and I have spent first 17 years of my life in Jeddah. Normally Pakistanis were earning SR 5,000 to 8,000 there, and it was enough for a normal life style (equvalent to an upper middle class family in Pakistan). Unlike Pakistan utilities, conveyance (fuel), school fees were only a minor expense there, however, food was comparatively costly.

[kamranACA]

Dear,

Cost of living at Saudi Arabia is still cheaper than Dubai. Dubai is costly even when compared to other states of UAE like Abu Dahbi, Sharja, Ajman, Ras al-khaima etc.

Despite being more costly than SA, still, every one has a preference for Dubai instead of SA. There are so many reasons for it. Dubai is an international place having straightforward laws while SA has very strict rules and regulations. Further, in Dubai there is a wide range of diversified jobs and people can change their jobs whenever they like, unless they have a job specific visa. Even in specific visa, one can get back to Pakistan and re-enter Dubai. It is very easy.

Further, Dubai has attractions for worldover investors. People move to europe and USA jobs from Dubai and are accepted with open hearts.

In fact Dubai has lots of reasons for this costly life.

Regards,

Kamran.

[Schuaeb]

Hmm, things are quite different in these two Gulf states.

One thing I will like to add, SA is no more a place for foreigners especially Pakistanis. It had once been a preferable state but there is no job market there now. This is the reason that a high rate of Pakistani expatriates are returning home from there

[Pracs]

I have lived most of my life in Dubai and I could'nt agree less with Kamran, Saudi is probably the worst place in the Gulf.. the only reason I have been there or will be there is for relegious reasons- Umrah and Hajj. Perhaps, that's the only way you can be there unless you work there ! It is the only country in the world which does not issue Tourism visas (apart from Hajj and Umrah ie). I presume its the only country in the world where Engineers and Chartered Accountants are force to work on 'Visas purhased' of labourer and gardners due to un seemingly ridiculous VISA Quotas and bans

[kamranACA]

You are absolutely right Pracs.

Further to your comments, I found Saudies very rude and conservative in general and unfair with foreigners, in specific, when foreigners are dealt with against a Saudi.

However, they make overall good arrangements for Hajj and Umrah visitors. This is the positive side of the picture.

I personally dont wish to stay at SA for Job purposes. Yes, off course visiting with religious intents is the most preferred wish of every muslim.

Best regards,

Kamran.

[Meat_]

Aslm aleikum bros. What if i complete till f6 of acca can i get job in dubai , abu dhabi as junior accountant? @kamran

[rameezuk]

Information in this forum is really beneficial, but i have few questions first Mr Kamran above mentioned the AED 18,000 is a good salary for a family to accommodate in Dubai but will you be able to save any money after incurring your routine monthly expenses?
Secondly i like to mention that i am an ACCA member studying towards my ICAEW qualification which is due to complete in near future, i am working in a mid-tier audit firm here in London from last more than 4 years and currently on the post of Audit manager. By the end of my qualification i have plans of moving to gulf region. Person with my qualification and experience can easily get salary up to £40,000+ in UK which is equal to around AED 20,000 per month but i am not sure howz the job market work in that region so will i be able to secure a job up to AED 20,000+ or i am being over optimistic?