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ISCA and SMU Unveil Lucrative Career Pathways and Salary Trends in Latest Snippets Revelations Report
Singapore, 14 November 2024 (Thursday) – The Institute of Singapore Chartered Accountants (ISCA) has released the second edition of its Snippets Revelations series, offering fresh insights into career opportunities and progression within the accountancy sector. The publication is the result of a collaboration between ISCA’s Salary and Career Review Taskforce and The Singapore Management University (SMU).
The launch was announced by Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and National Development, in her speech as the Guest-of-Honour at the ISCA Conference.
Targeted at students, educators, and parents, Snippets Revelations #2: Accountancy – Possibilities, Perspectives, and Purpose builds on the success of the first edition by providing an in-depth exploration of the accountancy profession. This edition highlights the diverse career trajectories within the field, with a particular focus on salary trends and comparisons with other professions.
Voices of Experience Share Their Career Stories
This new edition features the career stories of 11 seasoned professionals, each offering a unique perspective on the pathways within accountancy. Through their personal journeys, the guide showcases the varied roles and opportunities available in the field, underscoring the dynamic nature of the profession and its potential for growth. The guide features the following professionals:
Mr Quah Zheng Wei, Chief Executive Officer of Accredify and a Chartered Accountant of Singapore [CA (Singapore)], who shared how his background helped him transition into entrepreneurship; Ms Esther Wee, Deputy Accountant-General, Accountant-General’s Department, Singapore, CA (Singapore), and how she makes an impact in public finance; Ms Emelia Long, Financial Controller, Circular Now, CA (Singapore), who spoke about how her skills as an auditor has benefited her across a multitude of industries such as tech, eCommerce, energy, and pharmaceuticals.
ISCA CEO, Ms Fann Kor said, “There is a common misconception that accountancy jobs are boring, or that accountants only work with numbers. We hope that the stories shared by these professionals will provide fresh perspectives on the profession. Accountancy is an evolving field, one that not only builds essential skills but also opens doors to diverse career pathways."
It Pays to Stay in Accounting
Building on the foundation laid in Snippets Revelations #1, which highlighted starting salaries and career prospects for fresh accountancy graduates, Snippets Revelations #2 takes a deeper dive into salary trends and how they compare to other professions.
In partnership with SMU’s School of Accountancy, ISCA analysed data from the 2022 Occupational Wage Survey, conducted by the Manpower Research and Statistics Department of Singapore’s Ministry of Manpower.
A key finding was that the salary of professionals aged 40–49 is 45% higher than those aged 30–39, compared to a 27% increase for professionals in adjacent roles, highlighting the strong earnings potential in accounting-related occupations over time.
Ms Yvonne Chan, Chairperson of the ISCA Salary and Career Review Taskforce and Chief Financial Officer at SMU, added, “Following up from Snippets #1 earlier this year, this guide goes further. It benchmarks the accounting salary trends against other non-accounting roles and highlights the dynamic and strategic role accountants play in driving business decisions. Adaptability and strategic thinking remain key criteria to a long, fulfilling career as emphasised by our interviewees to the study. I hope these insights inspire students, educators, and parents to see accounting not just as a stable profession, but as a rewarding career that offers diverse opportunities and lifelong growth.”
Clarence Goh, Assistant Professor of Accounting (Practice) and Director, Professional Development at SMU School of Accountancy, remarked, “The findings from this report reinforce the value of pursuing a career in accounting. The profession offers both competitive salaries as well as the breadth and depth of opportunities which make it an incredibly rewarding career path. At SMU, we are proud to equip our students with the skills and knowledge necessary to thrive in an ever-evolving global marketplace.”
Snippets Revelations Series:
- Snippets Revelation #1: Accountancy – Pathways, Progression and Prospects
- Snippets Revelations #2: Accountancy – Possibilities, Perspectives and Purpose
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About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 36,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.
Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.
ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.
ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.
For more information, visit www.isca.org.sg.
About Singapore Management University
Established in 2000, Singapore Management University (SMU) is recognised for its disciplinary and multi-disciplinary research that addresses issues of global relevance, impacting business, government, and society. Its distinctive education, incorporating innovative experiential learning, aims to nurture global citizens, entrepreneurs and change agents. With more than 13,000 students, SMU offers a wide range of bachelors, masters and PhD degree programmes in the disciplinary areas associated with six of its eight schools - Accountancy, Business, Computing, Economics, Law and Social Sciences. Its seventh school, the SMU College of Integrative Studies, offers degree programmes in deep, integrative interdisciplinary education. The College of Graduate Research Studies, SMU’s eighth school, enhances integration and interdisciplinarity across the various SMU postgraduate research programmes that will enable students to gain a holistic learning experience and well-grounded approach to their research. SMU also offers a growing number of executive development and continuing education programmes. Through its city campus, SMU focuses on making meaningful impact on Singapore and beyond through its partnerships with industry, policy makers and academic institutions. https://www.smu.edu.sg/
Media Contacts:
ISCA Media Relations
Seah Yi Qin
Manager, Communications
Tel: 9833 3904
Email: yiqin.seah@isca.org.sg
SMU Media Relations
Jean Lim
Senior Assistant Director, Corporate Communications, Singapore Management University
DID: +65 6828 9673 | Email: jeanlim@smu.edu.sg