CIMA SALARY SURVEY 2013

Botswana

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Salary survey results

Botswana average salary figures

In 2013, part qualified CIMA students in Botswana earn on average P198,676 in basic annual salary plus P13,657 in bonus payments, totalling P212,333.1 The mean figure is boosted by 44% who earn a higher-tier student salary of P200k or more, plus bonus.

Tentative figures suggest that in 2013 qualified CIMA members in Botswana earn on average P511,538 in basic annual salary plus P45,461 in bonus payments, totalling P557,000 per year.2

‘[The CIMA qualification] will create greater opportunities for me, which would otherwise be slim. It can also help me to operate across a wide range of business areas. The financial benefits too, wow, I won’t be shy to say, they are great, after so much hard work!’

Female student, accountant working in accountancy practice.

Salary satisfaction

Among all qualified members and part qualified students, 36% are satisfied with their current salary, which represents an increase on 24% reported in 2012. The figures are likely to be dampened by high consumer price inflation, which has persisted for many years in Botswana at around 8%, going into double digits in 2006 and 2008.3

However, the survey suggests that satisfaction in 2013 is higher among qualified members (54%), which highlights the fact that their average earnings are more than twice that of students. These findings suggest a potential need for Botswana-based employers to focus more on attracting and retaining the best talent.

Salary increases anticipated

There is positive news in that 87% of members and students are expecting to receive a salary increase over the next 12 months, at an average rate of 9.4%, which is above the price inflation forecast of 7.2%.3 Around one-fifth (22%) expect a larger than average salary increase, including 17% who expect a very large salary rise of 20% or more, while one-half (49%) anticipate a smaller than average increase.

CIMA boosts salary deals and widens career

choices

Members and students in Botswana are very positive about the benefits of the CIMA qualification on employability and salary. 77% agree that the CIMA qualification strengthens their position in salary negotiations, 94% say it creates career opportunities and widens career choice, and 89% say that it strengthens international employability.

Figure 1: Total annual remuneration by CIMA level

1 Figures may not sum due to rounding.

2 Figures for qualified members should be treated with some caution as they are based on the responses of 13 members.

3 IMF World Economic Outlook April 2013. Available at: http://www.imf.org/external/pubs/ft/weo/2013/01/ Accessed 16 July 2013.

‘On average part qualified CIMA

students earn c. P212k per year and

44% earn a higher-tier basic salary of

P200k or more.’

P557,000

P212,333

Qualified membersPart qualifiedstudents

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4 IMF World Economic Outlook April 2013. Available at: http://www.imf.org/external/pubs/ft/weo/2013/01/ http://www.africaneconomicoutlook.org/en/countries/southern-africa/botswana/ Both accessed 16 July 2013.

Business and the economy

Expectations for future pay and conditions

Botswana’s economic growth is expected to reach 4.1% in 2013, following 3.8% growth in real GDP in 2012 and 5.1% in 2011. The growth rate has been somewhat erratic over the years, affected by changes in demand for diamond exports. Current projections into 2018 from the International Monetary Fund predict greater stability at just over 4% growth per year, although other projections predict higher growth at around 5.5%.4 Reflecting this picture, the expectations of CIMA members and students in Botswana in 2013 remain fairly stable, yet cautious.

In particular, the proportion expecting rising profits has reduced from 32% in 2012 to 21%. At the same time, the percentage anticipating falling profits has also reduced slightly, from 22% to 15%.

Expectations for salary increases remain fairly stable at one-fifth (21%), but the same is true for key negative factors: budget cuts (28%) recruitment freezes and job cuts (both at 19%).

There is a lower expectation for business process/policy changes, down from 42% to 19%, and a slightly lower anticipation of increased regulatory issues, down from 26% to 17%.

Figure 2: Expectations for the business environment over the coming 12 months − selected

indicators.

28%29%

21%32%

21%22%

19%24%

19%22%

19%42%

17%26%

15%22%

15%20%

15%17%

15%15%

Budget cuts

Increase in the overall profitability of the business

Salary increases

Recruitment freeze

Job cuts

Business process/policy changes

Greater focus on regulatory issues

Fall in the overall profitability of business

Less money available for future investment

Salary freezes

Increase in staff recruitment

2013 2012

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‘96% of members and students

anticipate being in a new role in the next

three years.’

Working conditions

Working hours

On average, members and students in Botswana work 44 hours per week, with 53% saying they regularly work over 40 hours per week.

Overall, 52% of members and students expect their working hours to increase over the coming 12 months, primarily due to understaffing/lack of resource (50%), followed by company growth (46%) and taking on more responsibility/more pressure (42%).5

Motivators at work

The key motivator at work for members and students is a good working environment (47%). A challenging workload (38%), job security (34%) and flexibility/work-life balance (32%) also drive motivation.

Career plans

Seeking new opportunities

94% of members and students say that the CIMA qualification creates career opportunities and widens career choice, and 89% say that it strengthens international employability.

The strength of the qualification to support mobility and promotion prospects is further emphasised by the fact that 96% of members and students expect to be in a different role within three years’ time.

34% of members and students anticipate being in a senior finance-related role within three years’ time, such as finance manager,

financial director, financial controller, CFO, head of accounting/finance or self-employed practitioner. A further 30% expect to move into a qualified accountancy role, and 15% anticipate being in a very senior non-finance role such as CEO/MD, head, director, or manager of a non-finance division.

Among all members and students, almost one-half (45%) are planning to find another job over the next six months and a total of 72% are planning to move job within the next two years, one-quarter of whom plan to move abroad.

The CIMA qualificationstrengthens my ability

to move internationallywith my career

94%agree

The CIMA qualificationcreates careeropportunities

for me

94%agree

The CIMA qualificationstrengthens myability to move

across all areas ofthe business

89%agree

72% are looking to move job within the next two years, of which…

74% plan to stay in Botswana

26% plan to move abroad

5 Figures should be treated with some caution as they are based on the responses of 24 members and students.

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‘Over the coming 12 months one-half of CIMA students will be focusing on developing their strategic planning and implementation, leadership and risk management skills.’

Building skill sets

Over the coming 12 months, one-half of CIMA students will be focusing on developing their strategic planning and implementation, leadership and risk management skills. More than two-fifths (44%) want to focus on their personal development skills, which include time management and career planning. Underpinning this, financial reporting (41%), decision making (35%) and problem solving (29%) are the technical skills that will be developed. Interpersonal skills are important for around one-third of students: communication (which includes negotiating, writing and presenting) and skills for developing others.

Survey findings suggest that the priority for qualified members will be to develop their leadership skills.

Figure 3: Top skills that part qualified students

wish to develop

‘CIMA is where business meets finance. I wanted to be equipped for leadership and decision making, so CIMA provides the…platform.’

Male student, accounts assistant/executive working in a medium sized business.

‘With the CIMA qualification…moving up the corporate ranks is easier as it prepares an accountant for other strategic roles.’

Male student, financial accountant in the retail, consumer, FMCG, food and drink industry.

‘CIMA is the world’s largest body of management accountants that offers a worldwide recognised qualification which is challenging, dynamic and eye-opening. It is not only limited to the numbers but is relevant to the wider aspects of business, transcending all functional areas.’

Male student, finance manager in the manufacturing and engineering industry.

50% Strategic planning and implementation50% Risk management50% Leadership

29% Problem solving29% Communication29% Relationship management

41% Financial reporting

44% Personal development

35% Decision making35% Skills for developing others 35% Project management

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CIMA BotswanaPlot 50374 , Block 3, 1st Floor, Southern Wing, Fairgrounds Financial Centre, GaboroneT: +267 395 2362E: gaborone@cimaglobal.com

© September 2013, Chartered Institute of Management Accountants

Appendix

Technical information

Survey responses were collected by CIMA among active qualified members and part qualified students between 25 April and 19 May 2013, via an online survey. The data was analysed and reported by an independent specialist consultancy.

Approximately 25,000 qualified members and just over 21,000 part qualified students were selected and invited to participate in the international study, which covers 23 markets in total. Within the study period 6,039 responded globally, including 47 from Botswana.

Further information

For further information on technical matters relating to this survey, contact yourvoice@cimaglobal.com

For further country specific analysis and reports, visit CIMA MY JOBS at http://myjobs.cimaglobal.com

Acknowledgements

This research was conducted by CIMA in conjunction with Spotlight Market Research & Editing. The Chartered Institute of Management Accountants is a Market Research Society Company Partner. Both CIMA and Spotlight abide by the Market Research Society’s Code of Conduct and the Data Protection Act.

CIMA BotswanaPlot 50374 , Block 3, 1st Floor, Southern Wing, Fairgrounds Financial Centre, GaboroneT: +267 395 2362E: gaborone@cimaglobal.com

© September 2013, Chartered Institute of Management Accountants