CIMA Botswana Part Qualified Salary Survey 2010

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CIMA Botswana partqualified salary survey 2010

CIMA salary survey 2010 – BotswanaExecutive summary1Main findings3Salaries and bonuses3Sector3Job role3Future3Recruitment and retention4Satisfaction with salary and benefits4Benefits received4Importance of benefits5Working hours6Skill set requirements7Geographical mobility7One word to describe CIMA difference8Technical information9Further information10

1Executive summaryBotswana has for many years been regarded as having one of the most solid economiesin Africa, enjoying a sustained period of significant economic growth. No small part ofthis success stems from the fact that Botswana produces 22% of the world’s diamonds,a resource that has contributed significant wealth in recent years. However, in 2009Botswana was forced to halve its output of diamonds and suspended a large part of itsmining activities as a result of the global recession. Botswana has also in recent years seena significant downturn in high-end tourism, another significant revenue income for thecountry.All this has had an obvious impact on the performance of the economy which declined by4.6% between September 2008 and September 2009. Since then growth has been fairly flat,although the government expects a gradual recovery of around 5% during 2010/2011.The second annual global salary survey of CIMA students was carried out in February 2010.A total of 2,563 employed students (who sat an exam in the last two years under the2005 CIMA qualification structure) contributed to the survey of which 40 responses werefrom Botswana. This report summarises the results of this survey with a particular focus onBotswana, looking at how recent economic events are impacting on salary levels and benefitpackages experienced by CIMA students working there. Please note that due to small basenumbers, only indicative results are given for Botswana. The results should be viewed withcaution when compared to global averages.Salaries and bonuses The average basic annual salary for CIMA students in Botswana is P162,000. The average bonus received is nearly P6,800, which when added to the basic salarydelivers an overall remuneration package of nearly P169,000. 55% of students do not expect to receive a bonus. Therefore the average amountamongst those students who actually expect to receive one in 2010 is higher at P15,100. 18% of students worry that they might experience a pay freeze this year and 3% worryabout possible redundancy or a salary reduction.

2Recruitment and retention Only 28% of CIMA students are satisfied with their salary – this is the lowest of allcountries surveyed (the global average being 51%). The benefits CIMA students place the greatest importance on are pension, healthcare,study leave, contribution/payment of CIMA fees, receiving a pay rise as an incentive forpassing exams and receiving a guaranteed bonus. The main benefits received by students in Botswana are pension (50%), study leave(45%), healthcare (33%) and contribution/payment of CIMA fees (33%). 30% of students are satisfied with their current benefits – again the lowest figurerecorded (globally the average is 67%). Students typically work a 43 hour week and it is unusual for people to be called upon towork more than 50 hours per week (only 8%). In terms of future skill requirements, decision making (55%), reporting and analysis (53%),leadership (53%), strategic planning and implementation (50%), and risk management(50%) are most highly sought.Geographical mobility Only 25% of CIMA students plan to stay with their current employer over the next twoyears. 55% are looking to move within the next six months, and the remaining 20% plan tomove within the next one to two years.

3Main findingsSalaries and bonusesThe average basic annual salary for CIMA students in Botswana is P162,000, which rises to almostP169,000 when the average bonus of P6,800 is included.There is a broad range of salary level in Botswana with 18% earning a basic annual salary in excess ofP240,000 while 45% earn less than P120,000.Just under half (45%) of students feel they will receive a bonus during the coming year, indicating thatthe practice of offering bonuses is fairly widespread but by no means guaranteed. The average bonusamongst those who expect to receive one in 2010 rises to P15,100.Bonuses equate to 4% of the remuneration package across all respondents, and rises to 9% of salary forthe 45% expecting to receive one.40% are studying at managerial level, 35% at strategic level, 10% are TOPCIMA and 15% are passedfinalists.1The majority of students in Botswana (85%) are currently working in Gabarone.SectorCIMA is important to the broad base of industry in Botswana with 30% of students employed inaccountancy firms and a further 18% employed within the banking, finance and insurance sector. 52%of students work for a wide variety of different types of companies outside the financial services industry.Given the low base numbers it is difficult to make comparisons across the sectors.A third of students are working for organisations with more than 500 staff, 20% for those with between50 and 499 staff, while the majority (47%) work for small organisations with fewer than 50 staff.Job roleIn terms of fitting into the business, organisational structure is traditional as 68% of respondents sit inthe finance division. A further 18% reside in operations.A quarter of students are employed as accountants/financial accountants with a further 12% employedas finance managers.FutureThere is some evidence that the tough global trading conditions are having some impact on Botswana.18% of students worry that they might experience a pay freeze next year and a further 3% worry aboutpossible redundancy or a salary reduction. Nevertheless, such concerns are clearly limited to a minorityand are far less significant than in countries that have been harder hit by global conditions such as theUK, where 45% fear a pay freeze and 9% worry about redundancy.1For the purposes of this survey, CIMA level data was collected under the 2005 CIMA qualification structure and refers to thoseat managerial level, strategic level, TOPCIMA and passed finalists. For comparison under the 2010 qualification structure, theselevels are respectively now known as operational/management level, strategic level, T4 Part B Case Study and exams complete.

4Recruitment and retentionSatisfaction with salary and benefitsOnly 28% of CIMA students in Botswana are satisfied with their salary. This is lowest ofall countries surveyed (the global average being 51%). Similarly, general satisfaction withbenefits received is low at just 30% – probably a reflection of relatively low receipt ofadditional benefits. This is the lowest percentage of all countries surveyed – globally 67%are satisfied with the benefits they receive.Salary satisfactionExtremely 5%Extremely dissatisfiedSalaryBenefitsBenefits receivedPensions, study leave, healthcare and contribution/payment of CIMA fees all representadditional benefits that employers commonly offer in Botswana. The table below showsthe most common benefits that students in Botswana currently receive in addition to theirremuneration package. However, Botswana typically has one of the lowest receipts ofbenefits of any country surveyed.Common benefits received by CIMA students in BotswanaBenefitReceived in 2010Pension50%Study leave45%Healthcare33%Contribution/payment of CIMA fees33%Bonus25%Company car/allowance18%Life assurance15%Mortgage relief13%Bonus as incentive for passing exams10%Travel benefits/allowances10%

5Importance of benefitsThe four benefits most commonly received by students in Botswana (pension, study leave,healthcare and contribution/payment of CIMA fees) are the same benefits identified as themost important overall.To a lesser degree, receiving a guaranteed bonus is offered to a fair proportion of studentsand is also deemed important.Pay rise as an incentive for passing exams is the one benefit where there is a significantgap between importance and the proportion of students who receive this benefit. With ahigh mean importance score of 4.4 out of 5, no students in Botswana currently receive thisbenefit.Botswana has one of the highest expectations levels of all countries, with no benefits scoringas unimportant, i.e. less than 2.5 out of 5.Importance of benefits (mean score) by benefits received5 extremely important, 1 not at all important4.7 4.6 4.6 4.54.560%4.2 4.2 4.143.9 3.73.5 3.5 3.4 3.4 3.33.250%32.9 2.9 2.9 2.740%30%20%10%ImportanceSeason ticket loanSabbaticalDaily subsidised foodMobile phone/Blackberry/PDALeisure facilitiesExtra holidaysProduct/services discountWorking from homeShares/share optionsChildcare arrangements/vouchersFlexible hoursTravel benefits/allowancesCompany car/allowancesBonus as an incentive for passing examsMortgage reliefLife assuranceBonusPay rise as an incentive for passing examsContribution/payment of CIMA feesHealthcareStudy leave0%Pension54.543.532.521.510.50Benefit receivedWorking hoursCIMA students in Botswana typically work nearly 43 hours per week at present, compared tothe global average of 42 hours. It is extremely unusual to work more than a 50 hour week(only 8%).Very few people think it likely that the number of hours they are required to work willdecrease in future (only 2%). Indeed, 43% believe that their working hours will increase overthe coming year, compared to 35% globally.

6Requirement to work outside normal hours43%IncreasingDecreasing55%Staying the same2%47% of those who expect their working hours to increase cite the fact that they are takingon more responsibility and more pressure as the cause. A significant secondary cause isexpected to be company growth, identified by 35%, which tends to lend weight to thegovernment’s optimism that 2010 should see a return to economic growth for the country.Understaffing is also identified as a causal factor by 29%.Skill set requirementsThe skills that CIMA students in Botswana are keenest to acquire during the coming yearinclude decision making (55%), leadership (53%), reporting and analysis (53%), strategicplanning and implementation (50%), and risk management (50%). With regards to thelatter, Zambia is the only other country keener to develop this skill – both countries placinggreater emphasis on risk management than the average globally (29%).Skill sets requiredDecision making55%Reporting and analysis53%Leadership53%Strategic planning and implementation50%Risk management50%Budgeting48%Communication (e.g. negotiating, writing, presenting)48%Skills for developing others (e.g. assessing performance, coaching)40%Time management40%Project management38%Team building38%Personal development (e.g. career planning, time management)38%Problem solving35%Internal audit and control30%IT software (MS Excel, Word, Powerpoint, etc.)25%Persuading and influencing25%IT (hardware systems)13%

7In general, students appear fairly keen to pick up a variety of different skills with the averagestudent typically looking at six or seven different areas, but they are less keen than mostother countries to desire personal development training (38% compared to 54% globally).Geographical mobilityStudents in Botswana are amongst the least inclined to change employment, despite beingthe most dissatisfied. 25% of CIMA students in Botswana plan to stay with their currentemployer, 55% are looking to move within the next six months, and the remaining 20% planto move within the next one to two years.One word to describe how CIMA is different from otheraccountancy qualifications.The size of the font reflects the number of times the word was spontaneously mentioned.Superb BUSINESS-CENTREDdiverseProfessionalism erestingRelevantUNIQUECHALLENGING businessAPPLICABLELEARN

8Technical informationData collection for the CIMA Global Part Qualified Salary Survey 2010 was carried outby CIMA itself online during the period 28 January to 14 February 2010. The data wassubsequently rim weighted (by Redshift Research) by country to ensure the profile of thesurvey sample accurately represents all CIMA markets.13,980 CIMA students globally were invited to participate (UK, Ireland, South Africa, SriLanka, Malaysia, India, Hong Kong, Australia, Mainland China, UAE, Pakistan, Botswana,Russia, Poland and Zambia). A total of 2,563 completed the study globally (18% responserate) with 40 respondents from Botswana. Please note that due to small base numbers, onlyvery indicative results are given for Botswana. The results should be viewed with cautionwhen compared to global averages. Basic responses were as follows:Table of responsesby age bandTable of responsesby CIMA levelTable of responsesby genderUnder 4417TOPCIMA4Total4045 and over2Passed finalist6Total40Total40For the purposes of this survey, CIMA level data was collected under the 2005 CIMAqualification structure and refers to those at managerial level, strategic level, TOPCIMA andpassed finalists. For comparison under the 2010 qualification structure, these levels arerespectively now known as operational/management level, strategic level, T4 Part B CaseStudy and exams complete.Further informationFor further information on technical matters relating to this survey, contactyourvoice@cimaglobal.comFor further country specific analysis and reports, visit CIMA MY JOBS athttp://myjobs.cimaglobal.com/Both the Chartered Institute of Management Accountants and Redshift Research are MarketResearch Society Company Partners. The organisations abide by the Market ResearchSociety’s Code of Conduct and the Data Protection Act.

9Global contactsCIMA UK – Head Office26 Chapter StreetLondonSW1P 4NPUnited KingdomT. 44 (0)20 8849 2287F. 44 (0)20 8849 2450E. cima.contact@cimaglobal.comwww.cimaglobal.comCIMA AustraliaSuite 1305109 Pitt StreetSydney NSW 2000AustraliaT. 61 (0)2 9376 9900F. 61 (0)2 9376 9905E. IMA BotswanaPlot 50676, 2nd Floor, Block BBIFM Building, Fairgrounds Office ParkGaborone, BotswanaPostal address:PO Box 403475Gaborone, BotswanaTelefax. 267 395 2362F. 267 395 2362/397 2982E. 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. w.cncima.comCIMA Hong KongSuites 1414 – 141514th Floor Jardine HouseCentral, Hong KongT. 852 2511 2003F. 852 2507 4701E. hongkong@cimaglobal.comwww.cimahongkong.comCIMA 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. india@cimaglobal.comwww.cimaglobal.com/indiaCIMA Ireland45-47 Pembroke RoadBallsbridge, Dublin 4T. 353 (0)1 643 0400F. 353 (0)1 643 0401E. dublin@cimaglobal.comwww.cima.ieCIMA 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. siaCIMA Middle EastOffice E01, 1st Foor, Block 3PO Box 502221Dubai Knowledge VillageAl Sofouh RoadDubai, UAET. 971 4434 7370F. 971 4434 1998E. eastCIMA 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. CIMA Singapore51 Goldhill Plaza, #08-02Singapore 308900T. 65 6535 6822F. 65 6534 3992E. reCIMA South Africa1st Floor, 198 Oxford RoadIllovo, JohannesburgSouth AfricaPostal address:PO Box 745, Northlands 2116, SouthAfricaT. 27 (0)11 788 8723/0861 CIMA SAF. 27 (0)11 788 8724E. hafricaCIMA Sri Lanka356 Elvitigala MawathaColombo 5Sri LankaT. 94 (0)11 250 3880F. 94 (0)11 250 3881E. IMA Zambia6053, Sibweni RoadNorthmead, LusakaZambiaPostal address:PO Box 30640, Lusaka, ZambiaT. 260 21 1 290 219/291 708F. 260 21 1 290 548E. lusaka@cimaglobal.comwww.cimaglobal.com/zambiaCIMA Zimbabwe6th Floor, Michael House62 Nelson Mandela Avenue,HarareZimbabwePostal address:PO Box 3831, Harare, ZimbabweTelefax. 263 (0) 4 708600/702617F. 263 (0) 4 708600/702617E. MA’s global offices may change duringthe year, so please visit the global weblinks for the most up-to-date contactdetails. For a full list of global contacts,please visitwww.cimaglobal.com/globalcontacts

Chartered Institute ofManagement Accountants26 Chapter StreetLondon SW1P 4NPUnited KingdomT. 44 (0)20 7663 5441F. 44 (0)20 7663 5442E. cima.contact@cimaglobal.comwww.cimaglobal.com May 2010, Chartered Institute of Management Accountants

CIMA Botswana part qualified salary survey 2010. CIMA salary survey 2010 – Botswana Executive summary 1 Main findings 3 Salaries and bonuses 3 Sector 3 Job role 3 Future 3 Recruitment and retention 4 Satisfaction with salary and benefits 4 Benefits received 4 Importance of benefits 5

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