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Survey reveal, CIMA members and students in the UAE confident about their career progression
Salaries within the management accountancy sector have continued to grow, according to the Chartered Institute of Management Accountants (CIMA) Annual Salary Survey.
The annual survey conducted online in July, received inputs from more than 2500 CIMA members and students based in the UAE.
The results reveal that the average monthly earning among qualified CIMA members in the UAE reached AED 33,824[1] in 2016. According to the research, even those in the process of gaining their qualifications report earning a monthly average of AED 15,533.
Members and students in the UAE are positive about their continued salary development. More than 86% members expect their gross annual salary to grow by an average of 6.3% and a similar proportion of students (98%) anticipate a salary increase over the next 12 months by an average of 9%.
On top of base salaries, 52 % of CIMA students in the UAE expect to receive a bonus in 2016, with the average bonus amounting to 9% of their annual salary. Among CIMA members, 78% expect to receive, on an average, a 10 % of their annual salary in bonuses in 2016.
Geetu Ahuja, Head of Middle East, North Africa and Pakistan, CIMA said: "The positive market remuneration reveal the indispensable role of the management accountants and the value they bring to businesses in the UAE. This is a reflection of the importance of their skillset - they have an ability to help drive good decisions in the short, medium and long term, and help business leaders generate value."
Roughly three-quarters of CIMA's UAE members (73%) and students (72%) will likely look to switch jobs and join a different organisation within the next two years, with financial reward being the primary motivator, followed by scope of role, and promotion prospects. However, 32% also cited job security as a possible reason for switching businesses. The skills most desired included negotiation and decision making, business planning, project and change management.
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The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world's leading and largest professional body of management accountants, with over 227,000 members and students operating in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders.
Professionalism and ethics are at the core of CIMA's activities with every member and student bound by robust standards so that integrity, expertise and vision are brought together.
CIMA has formed a joint venture with the American Institute of CPAs (AICPA) to establish the Chartered Global Management Accountant (CGMA) designation. CGMA is the global quality standard that further elevates the profession of management accounting. The designation recognises the most talented and committed management accountants with the discipline and skill to drive strong business performance.
CIMA is proud to be the first professional accounting body to offer a truly global product in the fast-moving area of Islamic Finance. CIMA also offers a Global Business Services qualification, in conjunction with The Hackett Group, the first and only global professional qualification in the shared services and outsourcing arena.
For more information about CIMA, please visit www.cimaglobal.com
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[1] Average monthly earning figures are based on inputs from CIMA respondents that took part in the 2016 CIMA Salary Survey
© Press Release 2016
