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CIMA United Arab Emirates part qualified salary survey 2010
CIMA salary survey 2010 – UAE
Foreword 1
Executive summary 2
Main findings 3
Salaries and bonuses 3
Sector 4
Job role 4
Recruitment and retention 5
Satisfaction with salary and benefits 5
Importance of benefits 5
Working hours 6
Skill set requirements 6
Geographical mobility 7
One word to describe CIMA difference 7
Technical information 8
Further information 8
Global contacts 9
1
Foreword
On behalf of the Chartered Institute of Management Accountants
(CIMA), I would like to welcome you to our second global part qualified
salary survey. The results in this report will provide you with an insight
into the current employment experiences and career aspirations of the
business leaders of tomorrow – CIMA’s UAE student base.
Despite ongoing economic instability in many regions around the world,
our report shows a strong relationship between our students and their
employers. Businesses are looking to their professionally-qualified
management accountants to help guide them through the recession
and on to sustainable success. This gives our students a greater sense of job security than those
studying for many other professional qualifications.
Our global survey clearly shows that most of our students believe they are recession-proof.
92% do not anticipate being affected by redundancy in 2010.This response could also reflect an
increasingly optimistic view of the general economic conditions: this percentage is even higher
than the level of confidence felt by students in last year’s survey (83%). Moreover, nearly two
thirds are feeling positive enough to make a job move in the next two years, although with this
feeling of security comes higher expectations. This year, just 51% of students are happy with
their current salary compared with 58% in 2009. The drop could indicate a greater sense of
professional value as the downturn lifts.
This report which focuses on CIMA students in the UAE identifies a number of important trends.
In the UAE the average monthly earnings package (salary and bonuses) is 18,088 dirham. In
terms of job security and satisfaction, we are receiving a mixed message from our students in the
Emirates. Clearly, students are confident of their role in helping the country out of the current
economic downturn. None of those who took part in this year’s survey were concerned about
redundancy. However, further turbulence is anticipated as a third are expecting a pay freeze.
The survey also revealed two issues for employers to note. On the positive side, although three
quarters of UAE students are planning to change jobs in the next two years, 78% of them intend
to stay in the country. But on the negative side, only a fifth of students said they currently
receive a pension. This is one of the lowest figures of any country surveyed. Those intending to
move abroad said their top destinations are the UK and Australia.
Overall, the global survey reinforces the fact that a growing number of students are finding that
CIMA’s professional accountancy qualification is the best way to develop their career potential.
In 2009 we saw a second year of record student growth and, for the first time, a majority of our
new students (56% of the total) were based outside the UK.
Please read through the following pages to find further snapshots of our students’ working lives.
I hope you find it informative reading.
Charles Tilley
Chief Executive
CIMA
2
Executive summary
A couple of years ago the economy of the United Arab Emirates (UAE) was growing at a
healthy 8% per year. However, the global recession has had a significant impact on this,
leading to a contraction of 1.9% in 2009. While it is expected that things will pick up again
during 2010, growth is expected to be more restrained at around 2%.
The second annual global salary survey of CIMA students was carried out in February 2010.
A total of 2,563 students (who had sat an exam in the last two years under the 2005
qualification structure) contributed to the survey of which 36 responses were from the
UAE. This report summarises the results of this survey with a particular focus on the UAE,
looking at how recent economic events are impacting on salary levels and benefit packages
experienced by CIMA students working there. Please note that due to small base numbers,
only indicative results are given for the UAE. The results should be viewed with caution when
compared to global averages.
Salaries and bonuses
• The average CIMA student’s monthly salary in the UAE is 16,500 dirham.
• The average bonus across all students is 1,588 dirham, giving a total monthly
remuneration package of 18,088 dirham.
• 39% are not expecting to receive an on target earnings bonus in 2010. For those
expecting to receive a bonus, the average rises to 2,513 dirham; 14% of their
remuneration package.
Recruitment and retention
• 56% are satisfied with their salary (global average, 51%).
• One-third of respondents expect a pay freeze in 2010.
• The most desired benefits are healthcare, bonus and pension. Healthcare benefits are
offered to over half (56%), and just under half (47%) receive a bonus. Only one-fifth
claim to receive a pension, one of the lowest levels globally.
• 58% of students from the UAE are satisfied with their benefits package (global average,
67%).
Geographical mobility
• Leadership (61%), decision making (56%), budgeting (53%), and reporting and analysis
(53%) are the main focus for skills development in the next 12 months.
• Three-quarters of respondents are planning to change jobs within the next two years,
44% of which are seeking to change jobs in the next six months.
• The UK and Australia are key destinations for the 22% considering a move abroad.
3
Main findings
Salaries and bonuses
The average basic salary is 16,500 dirham per month, with the average bonus across all
respondents equal to 1,588 dirham, producing a total remuneration package of 18,088
dirham.
Some 39% of respondents earn between 10,000 and 19,999 dirham per month. Another
28% earn between 20,000 and 29,999 dirham per month. Just 6% earn more than 30,000
dirham per month.
While 39% of respondents do not expect to earn a bonus in 2010, of those who do, half
expect bonuses of more than 9% of their gross monthly salary, including almost one-fifth
who expect bonuses of 20% or more. Overall, for those who expect to receive a bonus, the
average rises to 2,513 dirham, equating to 14% of their salary.
The perceived negative effects of the recession appear to be less acute in the UAE. While
nearly one-third of respondents expect a pay freeze in 2010, few expect to be affected by a
reduction in salary and no respondents were fearful of redundancy.
In terms of respondent profile, the UAE has a high dominance of male students, with only
8% of respondents being female. The age profile of respondents is higher than the global
average with half of respondents aged 35 or older. This perhaps explains why the UAE
has a more experienced profile than other countries surveyed, with around three-fifths of
students having four or more years’ experience since joining CIMA. However, level of study1
distribution is similar to that recorded globally; 26% are at managerial level, 36% are at
strategic level, 11% are studying TOPCIMA and 17% are passed finalists.
The majority of students in the UAE (72%) are currently working in Dubai.
1 For the purposes of this survey, CIMA level data was collected under the 2005 CIMA qualification structure and refers to those at managerial level, strategic level, TOPCIMA and passed finalists. For comparison under the 2010 qualification structure, these levels are respectively now known as operational/management level, strategic level, T4 Part B Case Study and exams complete.
4
Sector
The majority work in the accountancy sector, followed by the banking, finance and insurance
sectors, and the construction sector. Given the low base numbers it is difficult to make
comparisons across the sectors.
Responses by sector
Job role
In terms of fitting into the business, organisational structure is traditional as three-quarters
(75%) can be found working in the finance division. A further 17% reside in operations.
Students from the UAE are likely to have the job title management accountant, accountant,
finance manager or finance/business analyst demonstrating the strategic nature of many
students’ roles.
70%
11% 11%8% 8%
6%3% 3% 3% 3%
Acc
ount
ancy
Bank
ing,
fin
ance
and
insu
ranc
e
Con
stru
ctio
n an
d pr
oper
ty
ICT
tech
nolo
gy a
nd t
elec
oms
Oil,
gas
and
alt
erna
tive
ene
rgy
Man
ufac
turi
ng a
nd e
ngin
eeri
ng
Reta
il an
d co
nsum
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oods
Sale
s, p
urch
asin
g an
d su
pply
cha
in
Tran
spor
t, d
istr
ibut
ion
and
stor
age
Trav
el, l
eisu
re a
nd t
ouri
sm
5
Recruitment and retention
Satisfaction with salary and benefits
While 56% are satisfied with their salary, 36% are dissatisfied and a further 8% are very
dissatisfied. This is almost comparable with the global average of 51% being satisfied.
Similarly, 58% of students from the UAE are satisfied with their benefits package, compared
to the global average of 67%.
Importance of benefits
Healthcare, bonuses and pensions are the key benefits sought by students in the UAE.
Company car allowances and life assurance are relatively more attractive than extra holidays,
share options and the provision of leisure facilities.
Healthcare benefits are offered to over half (56%), and just under half (47%) receive a bonus
and travel benefits/allowances. Only one-fifth claim to receive a pension, one of the lowest
levels globally. As with other countries, expectations are not being met for bonuses or pay
rises as incentives for passing exams – only 3% receive the latter, no one the former, but
they score 3.9 and 4 respectively out of 5 in terms of importance.
None of the benefits were scored as unimportant, i.e. less than 2.5 out of 5.
Importance of benefits (mean score) by benefits received 5 = extremely important, 1 = not at all important
4.5 4.44.4 4.4 4.3 4.2 4.1 4 4 3.9
3.7 3.5 3.4 3.4 3.3 3.3 3.2 3.2 3.2 3.1 3 2.8
Hea
lthc
are
Bonu
s
Pens
ion
Pay
rise
as
an in
cent
ive
for
pass
ing
exam
s
Stud
y le
ave
Bonu
s as
an
ince
ntiv
e fo
r pa
ssin
g ex
ams
Com
pany
car
/allo
wan
ce
Life
ass
uran
ce
Trav
el b
enef
it/a
llow
ance
s
Con
trib
utio
n/p
aym
ent
of C
IMA
fee
s
Flex
ible
hou
rs
Mob
ile p
hone
/Bla
ckbe
rry/
PDA
Extr
a ho
liday
s
Chi
ldca
re a
rran
gem
ents
/vou
cher
s
Mor
tgag
e re
lief
Leis
ure
faci
litie
s
Sabb
atic
al
Wor
king
fro
m h
ome
Dai
ly s
ubsi
dise
d fo
od
Seas
on t
icke
t lo
an
Shar
e/sh
are
opti
ons
Prod
ucts
/ser
vice
s di
scou
nt
54.5
43.5
32.5
21.5
10.5
0
60%
50%
40%
30%
20%
10%
0%
Importance Benefit received
6
Working hours
Almost two-thirds (64%) of respondents work 41-50 hours per week, 11% work at least 50
hours per week, and 6% work more than 60 hours per week. Almost one-fifth work fewer
than 40 hours per week. This generates an average working week of 46 hours which is higher
than the global average of 42 hours.
While 53% of respondents feel there is no requirement to work longer hours, and 3% feel
the need is decreasing, some 44% of respondents consider the requirement to work extra
hours has increased, mainly due to taking on new responsibilities.
Requirement to work outside normal hours
Skill set requirements
CIMA students are well aware that their future careers will need them to be good at
elements other than just technical accountancy. A range of skill sets are sought in 2010, but
the main new skill considered important is leadership, mentioned by 61% of respondents.
This was followed by decision making (56%), budgeting (53%), and reporting and analysis
(53%).
Skill sets required
Increasing
Decreasing
Staying the same53%
44%
3%
61%
56%
53%
53%
47%
47%
44%
42%
39%
36%
31%
31%
31%
28%
25%
22%
8%
Leadership
Decision making
Budgeting
Reporting and analysis
Risk management
Strategic planning and implementation
Communication (e.g. negotiating, writing, presenting)
Persuading and influencing
Personal development (e.g. career planning, time management)
Problem solving
Time management
IT software (MS Excel, Word, Powerpoint, etc.)
Project management
Team building
Skills for developing others (e.g. assessing performance, coaching)
Internal audit and control
IT (hardware systems)
7
Geographical mobility
Three-quarters of respondents are planning to change jobs within the next two years, 44%
of which are seeking to change jobs in the next six months, and a further 14% within the
next twelve months. 78% who are considering moving job will stay within the UAE. For
those looking to move outside of the UAE, the UK and Australia are key destinations. The
main drivers for those considering a move abroad are a new career opportunity and an
improved quality of life.
Career plans for the next two years
One word used to describe how CIMA is different from other accountancy qualifications...
The size of the font reflects the number of times the word was spontaneously mentioned.
Stay in current job
Find a new job in UAE
Find a new job abroad
58%
17%
25%
FlexiblePrestigious
Business-focusedMANAGEMENT
Globalcomprehensive
excellent
InternationalBest Practical
FocusedQuality
STRATEGICRespectableUniquebeneficial
Broader
Knowledge Standout
8
Technical information
Data collection for the CIMA Global Part Qualified Salary Survey 2010 was carried out
by CIMA itself online during the period 28 January to 14 February 2010. The data was
subsequently rim weighted (by Redshift Research) by country to ensure the profile of the
survey sample accurately represents all CIMA markets.
13,980 CIMA students globally were selected and invited to participate (UK, Ireland, South
Africa, Sri Lanka, Malaysia, India, Hong Kong, Australia, Mainland China, UAE, Botswana,
Pakistan, Russia, Poland and Zambia). A total of 2,563 completed the study globally (18%
response rate), with 36 responses from the UAE. Please note that due to small base numbers,
only very indicative results are given for the UAE. The results should be viewed with caution
when compared to global averages. Basic responses were as follows:
Further information
For further information on technical matters relating to this survey, contact
For further country specific analysis and reports, visit CIMA MY JOBS at
http://myjobs.cimaglobal.com/
Both the Chartered Institute of Management Accountants and Redshift Research are Market
Research Society Company Partners. The organisations abide by the Market Research
Society’s Code of Conduct and the Data Protection Act.
Table of responses by age band
Under 25 2
25-34 16
35-44 17
45 and over 1
Total 36
Table of responses by gender
Male 33
Female 3
Total 36
Table of responses by CIMA level
Managerial 13
Strategic 13
TOPCIMA 4
Passed finalist 6
Total 36
9
Global contacts
CIMA UK – Head Office26 Chapter StreetLondonSW1P 4NPUnited KingdomT. +44 (0)20 8849 2287F. +44 (0)20 8849 2450E. [email protected]
CIMA AustraliaSuite 1305109 Pitt StreetSydney NSW 2000AustraliaT. +61 (0)2 9376 9900F. +61 (0)2 9376 9905E. [email protected]/australia
CIMA BotswanaPlot 50676, 2nd Floor, Block BBIFM Building, Fairgrounds Office ParkGaborone, BotswanaPostal address:PO Box 403475Gaborone, BotswanaTelefax. +267 395 2362F. +267 395 2362/397 2982E. [email protected]/botswana
CIMA ChinaUnit 1508AAZIA Center, 15th floor1233 Lujiazui Ring RoadPudongShanghai 200120P.R.ChinaT. +86 400 820 4080 +86 (0)21 5528 5119F. +86 (0)21 5228 5120E. [email protected]/chinawww.cncima.com
CIMA Hong KongSuites 1414 – 141514th Floor Jardine HouseCentral, Hong KongT. +852 2511 2003F. +852 2507 4701E. [email protected]
CIMA IndiaUnit 1-A-1, 3rd FloorVibgyor Towers C-62, G Block,Bandra Kurla Complex,Bandra (East),Mumbai - 400 051T. +91 (0)22 4237 0100F. +91 (0)22 4237 0109E. [email protected]/india
CIMA Ireland45-47 Pembroke RoadBallsbridge, Dublin 4T. +353 (0)1 643 0400F. +353 (0)1 643 0401E. [email protected]
CIMA MalaysiaLots 1.03b and 1.05, Level 1KPMG TOWER8 First Avenue, Bandar Utama47800 Petaling JayaSelangor Darul EhsanMalaysiaT. +60 (0)3 7723 0230F. +60 (0)3 7723 0231E. [email protected]/malaysia
CIMA Middle EastOffice E01, 1st Foor, Block 3PO Box 502221Dubai Knowledge VillageAl Sofouh RoadDubai, UAET. +971 4434 7370F. +971 4434 1998E. [email protected]/middleeast
CIMA PakistanNo. 201, 2nd floor Business ArcadePlot No. 27 A, Block 6, P.E.C.H.S.Shahra-e-FaisalKarachi, PakistanT. +92 21 3432 2387/88/89F. +92 21 3432 2390E. [email protected]/pakistan
CIMA Singapore51 Goldhill Plaza, #08-02Singapore 308900T. +65 6535 6822F. +65 6534 3992E. [email protected]/singapore
CIMA South Africa1st Floor, 198 Oxford RoadIllovo, JohannesburgSouth AfricaPostal address:PO Box 745, Northlands 2116, South AfricaT. +27 (0)11 788 8723/0861 CIMA SAF. +27 (0)11 788 8724E. [email protected]/southafrica
CIMA Sri Lanka356 Elvitigala MawathaColombo 5Sri LankaT. +94 (0)11 250 3880F. +94 (0)11 250 3881E. [email protected]/srilanka
CIMA Zambia6053, Sibweni RoadNorthmead, LusakaZambiaPostal address:PO Box 30640, Lusaka, ZambiaT. +260 21 1 290 219/291 708F. +260 21 1 290 548E. [email protected]/zambia
CIMA Zimbabwe6th Floor, Michael House62 Nelson Mandela Avenue,HarareZimbabwePostal address:PO Box 3831, Harare, ZimbabweTelefax. +263 (0) 4 708600/702617F. +263 (0) 4 708600/702617E. [email protected]/zimbabwe
CIMA’s global offices may change during the year, so please visit the global web links for the most up-to-date contact details. For a full list of global contacts, please visitwww.cimaglobal.com/globalcontacts
Chartered Institute of
Management Accountants
26 Chapter Street
London SW1P 4NP
United Kingdom
T. +44 (0)20 8849 2285
www.cimaglobal.com
© May 2010, Chartered Institute of Management Accountants
