Average salary of cost accountant in Dubai:- Dubai is a business hub. People are trooping to Dubai because of its favorable economy, easy business setup and job opportunities, especially for accountants. With each passing day more and more businesses are establishing in the Dubai as it is offering easy access to the 1.5 billion consumer markets situated in West Asia, Eastern Europe, Africa, CIS countries as well as the neighboring Middle East countries.
A proficient accountant is always required for the success of the business. Where there are businesses, the requirement of accountants is always higher. In Dubai, according to the recent reports the accountant can earn around AED 72000 per year with all benefits, which is 37% higher than the global average. And if higher experience factor gets added to the accountant profile, then the figure of earnings get increased and with additional benefits, the earning becomes higher. If we consider the full package of an accountant including extra income like bonuses and accommodations from the company, then the cost of an accountant for a company is quite higher.
What is the average salary of cost accountant in Dubai?
According to payscale, the total package of an experienced accountant is around AED 243,282 per year and on an average, as per our market information, the average salary of cost accountant in Dubai is around AED 60,668 per year.
Every successful business wanted to hire experienced accountants team as they know the value of accounts in their business growth, but it costs them higher than average ones. They know accounting ensures the business financial records are accurate and but hiring of in house accountant team to manage accounts costs much for small scale businesses.
To manage the expenses of the accounting department within the business keeps on increasing as the salary level incremented every year. And salaries of each accountant depends upon the niche within accounting he is working for. In Dubai, risk management employees are paid the most, followed by general management, information system, internal audit, and government accounting.
To get quality accounting services with cost-effectiveness, businesses now prefer to outsource their accounting work. In Dubai, there are many large-scale businesses and they prefer to outsource their financials need such as accountants, bookkeepers, and auditors to get better services at reasonable rates without the headache of hiring and managing full-time accountant at higher salaries.
While there are enough outsourcing solution providers for financial services in Dubai, but careful selection is highly desired. Accounts are the main growth factor and it should be managed professionally.