CIMA Global part qualified salary survey 2011
The annual salary survey gathers responses from part-qualified students in Australia, Botswana, China, Hong Kong, India, Ireland, Malaysia, Pakistan, Poland, Russia, Sri Lanka, South Africa, UAE, UK and Zambia.
Salary information was collected in February 2011 in local currencies. This increase could reflect a greater understanding of the security and stability CIMA’s qualification offers in an uncertain climate, or perhaps the expectation shown by 56 per cent of CIMA students that they will receive a salary increase in 2011.
Within the report an analysis of annualised average basic salary expressed in a common currency – in this case British pounds sterling (GBP) – allows us to compare salary levels across countries.
At almost £62,000, Australia has the largest average annualised salary in comparative terms; double that of the UK.
Salaries in Pakistan and Sri Lanka are low in international terms but they are high in national terms, which demonstrates the value of CIMA part-qualified students to smaller, emerging economies.
The large and fast-growing economies of China and India show comparative average salaries much greater than the small economies of Pakistan and Sri Lanka, but their salaries remain far below those seen in the established larger economies (the UK, Ireland and Australia).
At 71 per cent, the proportion satisfied with their salary is much greater in Australia, which has also been shown to have the highest comparative average salary.
Except for Ireland, those countries with the highest comparative average salaries also have the highest proportions of people satisfied with their salary.
For more country-specific analysis and reports , visit CIMA MyJOBS at http://myjobs.cimaglobal.com
In all countries surveyed, the number of hours worked in a typical week is most commonly 41–50 hours, except for the UK, where the typical working week is 35–40 hours. In 10 of the 15 countries surveyed, two-thirds or more of part qualified students are working more than 40 hours per week.
This is in contrast to the more established economies: two-fifths in the UK and roughly one-half in Australia and Ireland typically work more than 40 hours per week.
The most common reason for increasing hours was taking on more responsibility, which was mentioned by 78 per cent of students.
However, in terms of the second-most common reasons for increasing working hours, some interesting differences emerge. In established economies, such as the UK and Ireland, staffing constraints are causing a requirement for working longer hours. In fast-growing economies, such as India and Sri Lanka, company growth is causing bottlenecks.
The CIMA qualification is held in high regard, with the vast majority of part-qualified students perceiving it as providing career opportunities, as well as strengthening the ability to move internationally and to work across all areas of the business.
Overall, 64 per cent of part-qualified students are planning to move jobs within the next two years, but there is notable variation by country, with the lowest proportions in the more established economies − Australia, the UK and Ireland, where GDP growth tends to be lower – as well as China and Poland.
Likewise, there is considerable variation in the proportions planning to emigrate, with the highest proportion in Pakistan, followed by India, and among the lowest proportions in the UK and Ireland.