- Chartered Accountancy from The Institute of Chartered Accountants of India (ICAI) is one of the most sought-after qualifications.
- But it can be difficult to ace, often giving students the title of semi-qualified CA.
- Meet CA Bharat Chandan, who went through the same phase, but ended up with a desirable job in UAE.
- Here is how to strategically navigate the job search strategy.
Overcoming obstacles and landing a desirable job as a CA in UAE
It is no doubt that the Chartered Accountancy qualification from The Institute of Chartered Accountants of India – ICAI can be tough to get through.
Many times students pass two of the three exams ( CA Foundation and Intermediate) but the Final one becomes an obstacle.
That’s what happened to me.
I started my CA journey back in 2009, and completed three years of articleship as well, but couldn’t clear my CA Final exams on the first try.
When I was contemplating my next move, I noticed that many semi-qualified CAs were able to get desirable jobs in the UAE, especially in Abu Dhabi and Dubai.
Inspired by that, I moved to the UAE in 2016 on a one-month visit visa.
And thankfully, within that period I was able to secure 14 interviews and opted to go with a cyber security company in Abu Dhabi. The salary was three times as much as I could have earned in India.
I worked there as a semi-qualified CA for almost five years, before passing my final CA exams in November 2019.
That was such a relief and a proud moment for me.
With my fresh qualification and acquired experience in the UAE, I finally got an opportunity in 2021, at Dubai Electricity & Water Authority – DEWA, a government company.
However, the process of coming to the UAE as a semi-qualified CA, searching for jobs, and settling down wasn’t easy and required a very strategic approach.
Industries and Salary Outlook for Semi-qualified CAs in UAE
Many organizations in the UAE prefer to hire semi-qualified Chartered Accountants (CAs) who have finished their three-year articleship.
Accounting or internal auditing: If you want to work in the accounting or internal auditing field then you should aim for the Corporate sector. However, working in a small consultancy firm will give you more challenges and exposure to different aspects of the business.
Consulting or external auditing: If you are keen on working in consulting or external auditing, then you should apply to the Big 4 or any other accounting firms.
Indirect or direct tax: For those who want to work in the direct tax field, you should wait until Corporate Tax gets implemented in the UAE. Currently, there is more demand for advisory roles than compliance or litigation.
Salary you can expect:
The salary mainly depends on the company’s budget and but here is a rough estimation based on experience.
Fresher: If you have completed three years of your articleship, but have no work experience whatsoever, then you can expect a starting salary of AED 5,000 – AED 8,000
Experience of 3 years: If you have two to three years of work experience in India, in addition to your articleship, then you can expect a starting salary of AED 6,000 – AED 12,000.
Experience of 10 years: With 10 years of experience, you can expect almost 2.5 to 3 times your current salary.
A majority of employers in the UAE frown upon not having experience in the UAE market. So, initially, you may have to start from scratch and compromise on the salary package.
But keep working hard for two years, and your salary will double.
Job Search Tips for Semi-Qualified CAs in the UAE
Getting a job in the UAE as a semi-qualified CA is not as difficult as you may think. You just need to create a proper strategy and follow it.
Be confident:
- I think life depends on the level of confidence you hold. Being semi-qualified also when I came to UAE I was confident enough to understand that I deserve something better and thankfully I got a very good opportunity.
- Not a lot of semi-qualified CAs can showcase their confidence during the interview. That’s what is holding them back.
- You have to show the employer that you possess the same level of knowledge and understanding of the subject matters as a qualified chartered accountant.
Research:
- First, you need to determine the company and role you want to apply for.
- Reach out to other semi-qualified CAs in the UAE, working in that same role. Ask them about their salary and what it’s like living in the UAE so that you are prepared when you land in the country.
- I am glad that my seniors guided me very well.
Prepare an appropriate CV:
- Create a CV according to UAE standards, which means you have to write about your previous roles, responsibilities, and capabilities in great detail.
Apply to jobs through portals and recruiters:
- You can apply through portals such as Dubizzle, Indeed, LinkedIn, UAE Advise, Bayt, Naukri Gulf, Michael Page, Gulf Talent, and eFinancial Careers.
- Approaching recruitment agencies like TASC Outsourcing is also a good option.
- And most importantly, network, be it on LinkedIn or through any other method.
Fly to the UAE:
- Companies in the UAE prefer hiring people that are physically present in the country.
- That is why, I suggest you take a risk and fly out to the UAE on a 60-day visit visa.
- I traveled to the UAE on a job seeker visa, which doesn’t require a sponsor. To get this visa, I had to meet their criteria, which included having sufficient funds and proof of graduation, among others.
- It takes time to land the first job in the UAE. So, don’t get impatient if it takes more than one month.
Create an impressive LinkedIn Profile:
- Be active on LinkedIn and update your profile for the best results. That is how recruiters will be impressed.
Technical skills to give you a boost in the UAE market
Here are a few technical skills to acquire, that will maximize your chances of getting hired in the UAE.
Software knowledge:
- You should know basic MS Excel formulas, and how to create reports in Excel.
- Know how accounting software works, (Employers expect you to have this knowledge).
- Small UAE companies typically use Tally, the same as in India.
- However, knowing SAP and Oracle will give you a better chance at entering large organizations.
UAE Accounting and Tax Regulations:
- Working in the UAE, it is advisable to have some knowledge of Value Added Tax (VAT) and Economic Substance Regulations (ESR).
- Companies may also require you to understand International Financial Reporting Standards (IFRS). Thankfully for you, Indian Accounting Standards (Ind AS) and IFRS are somewhat similar.
- Once you get the job, don’t forget to continuously update yourself with new changes in regulations or Corporate Law.
Cost of living in the UAE
The UAE is an expensive country, so the cost of living highly depends on the lifestyle you want to have.
If you are willing to make some sacrifices to your lifestyle, you could reduce your monthly expenses to around AED 2,000- AED 3,000. It includes housing, transportation, food, and other expenses. You can use DuBizzle to find accommodation in the UAE.
But if you have a higher standard of living and want a comfortable lifestyle, then it may go up to AED 4,000 – AED 5,000.
At the end of the day, there is no income tax, therefore, you will be able to save more money.
What if Chartered Accountancy is not for you?
There is no doubt that semi-qualified and qualified CAs have more or less the same capability.
But companies will still look at whether you have passed your exams or not.
I know it is very difficult to manage your CA studies along with your work, I have been there. But I would still suggest that don’t give up on your CA dream.
Your life will drastically change, just as it happened to me.
As soon as I passed my CA final exams, several HR managers tried to approach me to join their company. This never happened to me when I was just a semi-qualified CA.
Earlier, when I was working as a semi-qualified accountant for almost five years, my growth rate at the company was a little slower than that of a qualified CA.
Qualified Chartered Accountants unsurprisingly have more job opportunities, with a higher salary package.
But if you still think that it is not worth continuing with your exams, then there are multiple alternatives to CA.
Certified Management Accountant (CMA): If you are working in the accounting or finance field, then it’s preferable to pursue the CMA USA qualification from The Institute of Management Accountants (IMA). The duration of the course is shorter than many other similar courses.
IMA also has a Memorandum of Understanding (MOU) with the Institute of Cost Accountants of India (ICMAI). So, if you become a CMA, you can get a direct membership at ICMAI as well.
Certified Internal Auditor (CIA): If are working in the internal auditing field, then you can opt for the CIA professional certification program.
ACCA: Association of Chartered Certified Accountants offers the globally recognized Chartered Certified Accountant qualification. The course is quite easier than other courses, as the questions are mostly MCQs. You can also get many exemptions as a CA.
Closing…
The United Arab Emirates is a rapidly growing economy, with a GDP of over $700 billion.
As of 2023, there are over 314,815 companies registered in the UAE, where SMEs account for over 90% of them.
The UAE is a melting pot of cultures, which will allow you to learn a lot from people of different nationalities.
So if you want to make the move, you can find many great career opportunities as a CA.
Although there is no age barrier in the UAE, I would highly suggest that you make a quick decision to make the move as soon as you start thinking about it.
