The job market in Kenya has become very competitive and students taking academic programmes and professional certifications have an edge over others.
Professional certifications in Accounting or any given sector give you the hands on skills that you do not get in your academic learning hence you get more focused.
In Kenya, Accountants get professional qualifications either in ACCA which is a London-based professional certification or Certified Public Accountants (CPA) examinations which are administered by KASNEB.
Qualifications alone is translated to better pay in many companies, so which of the two accounting certifications has long-term benefits to members in terms of career prospects, including salaries and bonuses?
A survey on salaries, carried out last year, by the Association of Chartered Certified Accountants (ACCA), shows that two-thirds of its members globally received a pay increase of at least six per cent last year
The survey carried out in 23 countries, including Kenya, recorded pay rise in 63% of the respondents.
Here is the monthly salary of ACCA Members across different levels of management in public sector, private, corporate sectors as well as In NGO’s.
The highest paid individuals with the qualification earn between Sh180,000 and Sh250,000 per month and hold the positions of financial managers, senior analysts, internal auditors and senior finance officers in the not-for-profit sector.
In the corporate sector and in financial services, this group earns between Sh60,000 and Sh250,000.
The least paid of ACCA’s graduates are accounts, finance and audit assistants in the public sector, who earn between Sh16,000 and Sh80,000 per month.
The survey did not compare the increase with that offered to members of other accounting certifying bodies such as the Certified Public Accountants, which is specific to Kenya.
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