CIMA Global Part Qualified Salary Survey 2010

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CIMA global part qualified salary survey 2010

CIMA salary survey 2010 – global report Foreword 1 Executive summary 2 Main findings 4 Salaries and bonuses 4 Salaries 4 Bonuses 6 CIMA level 7 Gender 8 Sector 9 Satisfaction with salary 10 Recruitment and retention 12 Importance of benefits 12 Receipt of benefits 14 Satisfaction with benefits 15 Working hours 17 Skill set requirements 19 Geographical mobility 21 Extent of movement 21 Top destinations 22 Future 24 One word to describe CIMA difference 25 Technical information 26 Further information 27 Global contacts 28

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 global 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 survey clearly shows that most of our students believe they are recession-proof. Globally, 92% do not anticipate being affected by redundancy in 2010. This response could also reflect an increasingly optimistic view of the general economic conditions: the 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. 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. However, job security is not being reinforced by greater remuneration when it comes to bonuses. (The average bonus fell from 9% in 2009 to 8% in 2010). Despite this, the number of students expressing satisfaction with their overall benefits package has stayed static at 67%. Besides bonuses, the benefits at the top of our students’ wish list were study support and a pension. The hotspots for top salaries are currently London, Dublin and Johannesburg where students are most likely to be in the top wage band. Australia remains the destination of choice for those who want to work abroad followed by the US, the UK and Canada. The average working week has shortened slightly to 42 hours while the longest was in Pakistan (50 hours). Overall, the 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 The world economy has experienced a slow recovery over the last 12 months. Much of this has been due to improving economic conditions from emerging markets and the US. Serious concerns remain however. Recent financial troubles in Greece and Iceland, for example, have reminded us exactly how fragile the global economy remains. News from the job markets has been good. Although, inevitably, there has been cost-cutting and redundancies over the last year, demand for management accountants continues to be strong. Evidence suggests top companies have either maintained or reintroduced training budgets in 2010. While interview processes have lengthened, there are warnings that an overcautious recruitment process could now lead companies to miss out on hiring top talent. In this context, CIMA has researched students’ salary levels and expectations in the current economic climate. This report, the second annual global salary survey of CIMA students, has been expanded to include Zambia, Pakistan, Russia, Botswana, Mainland China, United Arab Emirates and Poland, whilst continuing to track the UK, Ireland, South Africa, Sri Lanka, Malaysia, India, Hong Kong, and Australia. Across all countries, 2,563 responses were received from employed students who have sat an exam within the last two years under the 2005 CIMA qualification structure. This report looks at the salaries and bonuses paid to CIMA students, and also covers factors that affect salaries such as sector and gender. It goes on to examine recruitment and retention issues, identifies the geographical mobility of CIMA Part Qualified, and also touches upon future economic concerns. Salary information was collected in January and February 2010 in local currency. Some country salaries are reported in annual figures, others in monthly figures due to market preferences. A country by country comparison is not made for salary information as the cost of living varies tremendously by region. Please note that the definition of ‘high’, ‘medium’ and ‘low’ salary bands has been altered this year to improve salary sensitivity. Therefore changes in patterns should be viewed as a more accurate indication of changes over time, as opposed to absolute numbers.

3 Salaries and bonuses There are twice as many passed finalists in the high tier earning bracket compared to managerial level students on average (21% vs 10%). London in the UK, Dublin in Ireland and Johannesburg in South Africa are the salary hotspots where students are most likely to be in the top tier. London has seen a decline in real terms of average salaries since 2009. Although student population by gender is almost equal, the top salary tier contains twice as many men as women. For the 58% who expect to receive a bonus in 2010, this will be equivalent to around 8% of their salary, a slight drop since last year (9% in 2009). Those in Zambia and Russia are expecting to receive the highest bonuses as a percentage of their salary in 2010, with bonuses equating to 16% and 15% respectively. (In 2009, those expecting the highest bonuses were India, 11%, and Sri Lanka, 10%). Only 51% of respondents are satisfied with their salary, compared to 58% in 2009. Satisfaction with benefits is similar year on year with 67% satisfied. Globally 39% of students expect a pay freeze in 2010, while 8% fear redundancy. Recruitment and retention Three out of the five most desired benefits are studying supports (contribution/payment of CIMA fees, study leave and pay rise as an incentive for passing exams). Pension and bonus are the others. The expectation least being met is a pay rise as an incentive for passing exams, with only 14% receiving this, but it scores an average of 4.2 out of 5 in terms of importance. As in 2009, the most sought after skills are personal development (54%) and leadership skills (50%), followed by strategic planning and implementation (46%). The average working week has shortened since last year and is 42 hours (43 hours in 2009). Geographical mobility The mobility of the CIMA qualification is still recognised during difficult economic times, proving the extent to which opportunities are available in a global market with a globally recognised qualification. Nearly two-thirds (64%) of CIMA students intend to change jobs in the next two years, reflecting a slight increase on 2009 (60%). Nearly one-fifth of CIMA students intend to move abroad in the next two years, predominantly to English speaking countries. Australia remains the top destination of choice, with 47% of all relocators considering moving there, followed by the USA, the UK and Canada.

4 Main findings Salaries and bonuses Salaries Salary information was collected in January and February 2010 in local currency. A country by country comparison is not made for salary information as the cost of living and tax regimes vary by region. The average salary (excluding bonuses) for CIMA students of each of the countries that participated in the survey can be viewed in local currency on the map below. Please note that only a small number of responses were received from some countries, so the information is indicative only and it is inappropriate to use for trend comparisons. CIMA students’ average salary1 by country UK 30,800* Poland ZL11,800** Ireland 41,400* Russia 154,250 roubles** China RMB215,500* Hong Kong HK 35,000** Malaysia RM68,750* Zambia K6,400,000** Botswana P162,000* South Africa R364,200* Australia AUS 88,800* UAE 16,500 dirham** Pakistan PKR 68,900** India Rs.8.1lakhs* Sri Lanka Rs.48,800** 1 Depending on country, data refers to annual basic salary* or monthly basic salary**

5 Responses from locations within countries are likely to be concentrated in company headquarters. They are most dispersed in the UK but more highly concentrated in Sri Lanka (92% from Colombo), Botswana (85% from Gaborone) and Ireland (64% from Dublin), for example. Three countries have significant differences in average regional salaries. These areas with significantly higher numbers of high tier earners are London, where 65% of the UK’s high tier earners are based with an average salary of 36,900 per annum, Dublin, where 78% of Ireland’s highest tier earners are based with an average salary of 43,000 per annum, and Johannesburg, where 61% of the country’s highest tier earners are based with an average salary of R392,400 per annum. All these cities have a high dominance of banking, finance and insurance employment. Salary hotspots Country City Basic annual salary (in local currency) UK London 36,900 Ireland Dublin 43,000 South Africa Johannesburg R392,400 Average salaries in these high earning cities have decreased slightly from last year. However, because salary bands have been altered, in real terms there is an increase of 2.8% in Ireland overall, but a decline of 2.5% in the UK overall.

6 Bonuses The average bonus globally (including those not expecting a bonus in 2010) equates to 5% as a proportion of salary. For the 58% who expect to receive a bonus in 2010, it will be equivalent to around 8% of their salary, a slight drop from last year (9%). However, the average bonus rises to 12% for those in the highest salary bracket. Asia Pacific (APAC) students are significantly more likely to receive bonuses than those in Europe, the Middle East, and Asia (EMEA), or the UK, with 80% anticipating a bonus in 2010, as opposed to 67% in EMEA and 52% in the UK. Those in Zambia and Russia are looking forward to receiving the highest bonuses as a percentage of their salary in 2010, with bonuses equating to 16% and 15% respectively, compared to India and Sri Lanka in 2009 who were expecting to receive the highest bonuses at 11% and 10% respectively. Ireland and the UK, which also have the greatest concerns over pay freezes in 2010, are expecting the lowest bonuses, as well as being least likely to receive bonuses in the first place. Average expected bonus in 2010 as a percentage of salary UK 7% Poland 13% Ireland 8% Russia 15% China 12% Hong Kong 11% Malaysia 12% Zambia 16% Botswana 9% South Africa 11% Australia 10% UAE 14% Pakistan 14% India 11% Sri Lanka 14%

7 CIMA level Nearly two-thirds (63%) of managerial level students are in the low earning tier. This figure has more than halved by the time students have progressed to TOPCIMA, with the majority at this stage (52%) now in the mid salary tier and just under one-fifth of students (19%) a high tier earner. Salary tier by CIMA level2 Passed finalist 23% TOPCIMA 56% 29% Strategic 21% 52% 45% Managerial 19% 39% 63% 0% 20% Low tier earners 16% 28% 40% 60% Mid tier earners 80% 10% 100% High tier earners There are twice as many passed finalists in the high tier earning bracket compared to managerial level students on average (21% vs 10%). Furthermore, the higher the CIMA level, the more likely an individual is to anticipate a bonus in 2010 (55% of managerial level students compared to 63% of passed finalists). In terms of CIMA level, there is a tendency for more highly qualified students to work for larger companies, demonstrating the market demand for ACMAs and FCMAs. This is particularly the case in the UK, Ireland and South Africa. 2 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. The higher the CIMA level, the more likely an individual is to anticipate a bonus in 2010 (55% of managerial level students compared to 63% of passed finalists).

8 Gender As in other areas of industry, females are not remunerated as highly as their male colleagues. Globally, in terms of average basic salary in 2010, there are twice as many men in the top salary tier as women, with over half of female students in the lowest salary tier. Salary tier by gender 53% F M 38% 41% 0% 9% 40% 20% 40% Low tier earners 60% Mid tier earners 19% 80% 100% High tier earners The salary differences can vary tremendously by country with Sri Lanka showing a 42% difference between men and women, while there is only a 2% disparity in Ireland. Salary by gender Male Female Percentage that males earn more than females Ireland ( )* 41,784 40,817 2% South Africa (R)* R377,387 R343,200 10% Sri Lanka (Rs.)** Rs.54,551 Rs.38,462 42% United Kingdom ( )* 32,036 29,720 8% Depending on country, data refers to annual basic salary* or monthly basic salary** This inequality could possibly be a reflection of a tendency for women to work within the health and education sectors, be based outside London in the UK and work less than 50 hours per week. 10% more males than females are expecting to receive a bonus this year. The average bonus for men is expected to be 5.1% of their salary, while women will receive 3.9%, equating to around a 30% difference.

9 Sector The most popular sector is accountancy with 16% of students employed in this industry overall. Sri Lanka and India have a particularly high proportion of students working here (34% and 31% respectively). The UK has a significantly higher proportion of students employed in the public sector than the rest of the world, it being the fourth most popular sector globally at 10%. Banking, finance and insurance (14%), and manufacturing and engineering (13%) are the second and third most important employment sectors globally. Within these sectors students are primarily based in the finance function (82% globally). However, those working in other divisions such as information technology or strategy are more likely to be in the highest salary tier. This year, the banking, finance and insurance sector continues to have a significantly higher proportion of high tier earners. However, unlike in 2009, the ICT, technology and telecoms sector no longer has a significant proportion of students in the higher salary bracket. The banking, finance and insurance sectors dominance among high tier earners is largely due to the response by UK students. As might be expected, those in the public, not-for-profit, health and education sectors are least likely to get bonuses: generally around 70% of them not expecting to receive monetary or on target earning bonuses this year. Those in the construction and property and travel, leisure and tourism industries are not optimistic either, with around two-fifths not foreseeing receipt of any bonus in 2010. 2010 saw less differentiation between sectorial salaries than in 2009.

10 Satisfaction with salary As might be expected, the higher the salary bracket, the greater the satisfaction level (76% of high tier earners are either satisfied or extremely satisfied compared with just over onethird of low tier earners). Overall, 51% are satisfied with their salary, compared to 58% in 2009. Percentage satisfied or extremely satisfied with salary by salary level High tier earners 76% Mid tier earners 60% Low tier earners 37% 51% Global overall Certain countries in particular are highly dissatisfied, such as Botswana (72% dissatisfied or very dissatisfied) and Zambia (67%). Conversely, students in Poland and Pakistan are the most content with their basic salary (72% and 64% respectively, satisfied or extremely satisfied). Percentage satisfied or extremely satisfied with salary by country 72% 64% 60% 59% 56% 56% 51% 55% 55% 52% 51% 50% 46% 45% 33% Botswana Zambia China Sri Lanka India Malaysia UK Ireland South Africa Australia UAE Russia Hong Kong Pakistan Poland 28% Global overall Salary satisfaction has dropped from 58% in 2009 to 51% in 2010.

11 Satisfaction with salary increases with age, after an initial blip, with those aged 45 and over the only age group showing an increase in salary satisfaction from 2009 (60% up to 67%). As in 2009, satisfaction with salary is also highest in large companies in 2010, although slightly down on this time last year (59% down to 56%). Percentage satisfied or extremely satisfied with salary by age and size of organisation 46% Micro/small (2-49) Micro/small (2-49) Sole trader 2010 59%56% 47% 56% 59%56% 47% Large (250 ) 58% 56% Large (250 ) 46% Sole trader 54% 50% 58% Medium (50-249) Medium (50-249) 54% 50% 45 and over 35-44 35-44 2009 45 and over 25-34 25-34 67% 64% 60% 56% Under 25 58% 51% 59% 57% 53% 49% 67% 64% 60% 56% Under 25 59% 57% 53% 49% Global overall Global overall 58% 51% By CIMA level, salary satisfaction is lowest amongst those studying at managerial level at 47% (down from 57% in 2009). Those studying TOPCIMA and passed finalists have also 60% 60% 59% 57% 58% 57% in 2010; seen a sizeable drop in salary satisfaction TOPCIMA (51%, compared to 60% in 2009 2010 52% 51% 51% 2009) and passed finalists (52%, compared 47%to 60% in 2009). Percentage satisfied or extremely satisfied with salary by CIMA level Strategic TOP CIMA Strategic 2010 2009 2009 TOP CIMA Managerial 47% 60% 59% 57% 60% 52% 51% 2010 Passed finalist Passed finalist 57% Managerial Global overall Global overall 58% 51%

12 Recruitment and retention Importance of benefits As in 2009, support with study via a range of methods are three out of the five most desired benefits sought by students globally (particularly by the under 35s). Pensions (particularly significant for those over 25 years) and bonuses are the other most desired benefits. Most important benefit by country Country Most important benefit in 2010 Australia Study leave/bonus/flexible hours Botswana Pension China Bonus Hong Kong Bonus India Healthcare Ireland Pension Malaysia Bonus Pakistan Company car/allowance Poland Bonus/healthcare Russia Bonus South Africa Study leave Sri Lanka Bonus United Arab Emirates Healthcare UK Study leave/CIMA fees Zambia Healthcare Global Pension/study leave/CIMA fees From a country perspective, there is broad agreement with the global benefit priorities. Nevertheless, there are a few elements where we see polarisation. For example, looking at the chart on the following page we see that being able to work from home is popular among some countries such as Russia, India and the UK, but of very little interest to Pakistan and Zambia. Company car allowance is another area of difference; rated as the most important benefit within Pakistan and yet one of the least important benefits in Ireland. This shows the need in some countries for multinational companies to take into consideration local sensitivities and taxes when negotiating reward packages.

13 Hong Kong India Ireland Malaysia Pakistan Poland Russia South Africa 4.2 4.5 4.2 4.5 4.3 3.8 3.8 3.6 4.5 4.4 4.2 4.6 3.8 3.8 4.2 4.4 4.2 4.2 4 3.9 4.7 4.4 4 4.5 3.6 3.6 3.7 4.3 4.3 4 4 3.8 4.2 4.2 4.2 4.2 4.6 4.7 4.4 4.2 4.7 4.3 4.4 4.6 4.2 3.6 4.4 3.9 3.7 4.1 4 4.2 4.2 3.6 3.4 4 4.2 3.5 3.7 3.5 4 4 4 3.8 3.7 4 3.6 4 3.8 3.6 4 3.9 4.1 4.1 3.6 3.9 3.5 4.6 4.2 4.6 4.5 4.2 4.5 4.4 4.4 3.6 3.7 3.2 3.8 3.8 3.6 3.8 3.6 3.6 3.6 3.7 3.4 3.2 3.2 3.8 3.4 3.7 3 3.5 3.2 4.2 3.9 3.8 4.2 3.6 4.1 3.5 3.5 3.7 3.7 3.7 3.9 3.4 4.1 3.1 3.1 3.4 3.4 3.4 3.6 3.2 3.1 3.3 2.9 3.5 3 3.5 3.1 3 2.7 3.9 3.2 2.7 3.7 3 3.1 4.1 3.1 3.2 3.2 Zambia China 4.7 UK Botswana 4.1 UAE Australia 4.4 Sri Lanka Global Importance of benefits 4 4.1 4.4 4.7 Pension 4.3 4 4.5 4.7 Study leave 4.4 3.8 4.5 4.7 Contribution/payment of CIMA fees 4.6 4.5 4.5 4.1 4.4 Bonus 4.2 4.4 4 4.2 4.6 Pay rise as an incentive for passing exams 3.9 4 3.7 3.5 4 3.7 Flexible hours 3.5 4 4.2 3.9 4 4.4 Bonus as an incentive for passing exams 4.4 4.6 4.4 4.6 3.7 4.9 Healthcare 3.6 3.8 3.5 3.4 3.4 3.7 3.5 Extra holidays 3.7 3.8 3.5 3.3 3.1 3.6 2.9 Working from home 3.9 3.3 3.6 3.7 3.9 3.9 3.4 4.5 Life assurance 4 3.2 3.7 3.5 4 3.9 3.4 4.1 Travel benefits/allowances 3.5 3.2 2.9 3 3.6 3 2.9 3.1 3.6 Shares/share options 3.4 3.1 3.1 2.7 3 3.2 3.1 3 3.4 Sabbatical 2.6 3.5 4.5 3.8 3.1 3.3 4.1 3.9 2.8 4.2 Company car/allowance 2.9 3.7 2.9 3.1 3.4 3.2 3.4 3.2 2.9 4.1 Mortgage relief 3 3.1 3 3.2 2.8 3.5 2.9 3.3 3.4 3 3 3 3.3 3.1 2.9 3.3 Leisure facilities 2.9 2.9 2.9 3.1 3.1 3.7 2.8 3.1 3.9 3.3 3.4 3.1 3.5 3.5 2.8 3.4 Mobile phone/Blackberry/PDA 2.9 2.8 3.3 2.9 3 3.2 2.7 3.2 3.2 2.8 2.8 3 3.2 2.8 2.8 3.4 Product/services discount 2.8 2.6 2.9 3 2.7 3.4 3 3.1 3.4 2.5 3.4 2.7 3.2 2.9 2.7 3.1 Daily subsidised food 2.8 2.7 3.5 3.1 2.6 3.3 2.7 3.2 3.3 2.9 3.3 2.8 3.1 3.3 2.7 4 2.5 2.4 2.7 2.6 2.5 3 2.2 2.9 3 2.6 2.8 2.3 2.8 2.9 2.5 3.2 Higher Childcare arrangements/vouchers Season ticket loan Lower Importance None of the benefits suggested were scored as unimportant globally, i.e. less than 2.5 out of five. Pension, study leave and contribution/ payment of CIMA fees are the three key benefits sought by students globally.

14 Receipt of benefits Employers could improve satisfaction levels by offering pay rises or bonuses as an incentive for passing exams. By and large students are receiving two out of three study support benefits (61% receiving study leave and/or contribution/payment of CIMA fees, a slight drop on last year). The main area where expectations again are not being met is pay rise as an incentive for passing exams – only 14% receive this, but it scores 4.2 out of 5 in terms of importance. A bonus for passing exams is also received by a smaller proportion of students than would like it (6% receive this benefit and it scored 4 out of 5 in terms of importance). There are differences in receipt of benefits by region, with the UK employers being the most likely to offer the widest range of benefits, particularly in the area of CIMA study support. However, the UK does not have the same level of company car or phone allowances and healthcare as much of the rest of the world. Students in Hong Kong and Malaysia are more likely to receive a monetary bonus than average, while those in the UAE have a greater inclination for receiving travel benefits than average. 5% 23% 15% 29% 53% 29% 23% 33% 38% 34% 60% 17% 24% 42% 21% 19% Mobile phone/Blackberry/PDA 18% 29% 8% 37% 20% 34% 14% 16% 25% 66% 47% 23% 25% 25% 16% 7% Working from home 18% 15% 0% 8% Product/services discount 15% 17% 5% 27% 20% 12% 16% 12% 12% 24% Shares/share options 15% 12% 5% 3% 20% 6% 21% 18% 0% 7% 0% 5% 7% 2% 8% 6% 0% 6% 2% Ireland Zambia 27% 25% Life assurance UK Flexible hours 4% UAE 40% Sri Lanka Healthcare 8% Russia Bonus 41% 38% 25% 45% 67% 36% 39% 71% 56% 48% 53% 52% 54% 47% 39% 33% 66% 34% Poland 55% 27% 50% 34% 67% 14% 62% 10% 27% 17% 26% 52% Pakistan Pension Malaysia India Study leave China 6% 61% 44% 45% 32% 40% 18% 58% 33% 25% 31% 34% 72% 39% 19% 67% 57% Botswana 61% 42% 33% 39% 33% Australia Contribution/payment of CIMA fees Global Hong Kong South Africa Benefits received 45% 60% 40% 18% 14% 71% 49% 6% 19% 64% 37% 33% 61% 87% 43% 50% 55% 69% 93% 81% 37% 50% 56% 36% 56% 26% 33% 16% 21% 21% 21% 28% 23% 26% 19% 11% 30% 27% 12% 9% 4% 7% 2% 21% 11% 7% 4% 3% 3% 22% 0% 9% 10% 10% 3% 16% 3% 4% 14% 4% 3% 17% 4% 2% 5% 4% 3% 18% 6% Pay rise as an incentive for passing exams 14% Travel benefits/allowances 14% 13% 10% 29% 13% 22% 14% 25% 27% Daily subsidised food 12% 0% 5% 26% 0% 25% 23% 7% 12% 3% Extra holidays 12% 8% 0% 18% 7% 7% 11% 11% 10% 3% 19% 6% 8% 11% 13% 1% Season ticket loan 12% 4% 0% 0% 0% 1% 3% 2% 0% 0% 0% 1% 3% 1% Leisure facilities 11% 6% 0% 13% 7% 7% 10% 5% 8% 34% 11% 2% 8% 6% 13% 1% Childcare arrangements/vouchers 10% 0% 3% 3% 7% 3% 1% 0% 2% 3% 4% 1% 2% 3% 13% 1% Company car/allowance 7% 8% 18% 11% 7% 18% 4% 10% 44% 24% 9% 17% 16% 19% 5% 13% Bonus as an incentive for passing exams 6% 0% 10% 0% 0% 1% 9% 0% 0% 3% 9% 2% 3% 0% 7% 1% Sabbatical 3% 2% 3% 8% 0% 3% 2% 1% 2% 0% 0% 2% 1% 3% 4% 0% Mortgage relief 1% 0% 13% 5% 13% 2% 2% 8% 4% 3% 0% 3% 3% 0% 1% 1% 8% 0% 10% 26% 19% 26% 47% 11% 16% 19% 10% 47% 100% 11% 10% 16% 0% Receipt of benefit Assistance with study elements such as CIMA fee payment or bonuses as an incentive for passing exams are more likely to be received by younger respondents. Older CIMA students are more likely to have a company car, mobile phone/PDA or extra holidays.

15 Satisfaction with benefits Globally satisfaction levels with benefits are very similar to last year (67% in 2010 and 68% in 2009), despite salary satisfaction declining, indicating that the surrounding benefits package continues to be important to and well received by CIMA students. Percentage satisfied or extremely satisfied with benefits by country 73% 67% 72% 70% 68% 68% 61% 61% 58% 58% 56% 55% 53% 50% 40% Botswana Zambia Sri Lanka China Malaysia Pakistan UAE Australia South Africa India Russia Ireland UK Poland Hong Kong Global overall 30% Two of the new countries included in this year’s survey, Botswana and Zambia, are particularly disappointed with their benefits (70% and 60% respectively either dissatisfied or very dissatisfied). However, students in both these countries also had higher expectations than any other countries, which may explain in part why they are also the most disappointed. No countries stand out as particularly satisfied with their benefits package, but Australia satisfaction levels have dropped sharply this year. High tier earners are the most satisfied with the benefits they receive, with 77% extremely satisfied or satisfied (in line with the 76% of high tier earners also satisfied with their salary). Similarly, satisfaction levels for mid tier earners are similar for both benefits (62%) and salary (60%). There is a significant difference, however, amongst low tier earners between the two elements of their remuneration package; 61% are satisfied with their benefits compared to 37% satisfied with their salary. Percentage satisfied or extremely satisfied with benefits by salary level High tier earners Mid tier earners Low tier earners Global overall 77% 62% 61% 67% Australia has seen a very sharp decline in satisfaction with benefits this year – down from 80% in 2009 to 58% in 2010.

16 As with satisfaction with salary, benefit satisfaction increases with age, with those aged 35 and over the most satisfied. Benefits satisfaction is also significantly higher amongst those students working for large organisations. Benefit satisfaction levels varied from 54% amongst sole traders, 62% in micro/small organisations, 53% in medium organisations (50-249 employees) to 71% in large organisations (250 employees), suggesting that large organisations are more able to offer a selection of benefits best suited to CIMA students. Percentage satisfied or extremely satisfied with benefits 71%71% 61% 59%62% 61% 54% 53% 77% 70% Large (250 )Large (250 ) Medium (50-249) Medium (50-249) 2010 Micro/small Micro/small (2-49) (2-49) 2009 71%71% 61% 59%62% 61% 54% 53% Sole trader Sole trader 35-44 35-44 77% 70% 45 and over 45 and over 25-34 25-34 68%65% 67%65% 68%70% Under 25 68% 67% Under 25 68%65% 67%65% 68%70% Global overall Global overall 68% 67% In 2009, there was a slight indication that those studying TOPCIMA and passed finalists were more satisfied with the benefits they receive than managerial and strategic level 2009 2010with those in the early stages of students. In 2010, any suggestion of this has disappeared 72% 70% 68% 67% 68% 67%with their benefits 66% through their studies just as satisfied 66% 65%as those further 65% their CIMA studies. Percentage satisfied or extremely satisfied with benefits by CIMA level 2009 66% 2010 2010 70% 65% Passed finalist Passed finalist 72% TOP CIMA TOP CIMA Strategic 2009 Strategic 67% 66% 65% 68% Managerial Managerial Global overall Global overall 68% 67%

17 Working hours The typical working week for half of respondents globally is 35 to 40 hours. A further 37% work 41-50 hours, while only 4% work less than 35 hours a week. Averaging 50 hours per week, Pakistani students typically have the longest working week, closely followed by Hong Kong (49 hours) and India (48 hours). In contrast, those in the UK typically have the shortest working week (40 hours). Globally the average is 42 hours. Average hours worked per week Ireland 43 hours UK 40 hours Russia 46 hours Poland 43 hours China 45 hours Hong Kong 49 hours Malaysia 48 hours Zambia 43 hours Botswana 43 hours South Africa 44 hours Australia 42 hours UAE 46 hours Pakistan 50 hours Sri Lanka 46 hours India 48 hours TOPCIMA students work significantly longer hours on average than other students at 43 hours, as do those who expect to receive a bonus this year. Those expecting a bonus work 42 hours per week, compared to 40 hours for those with no anticipation. Around one-third of students feel under pressure to increase their workload outside normal ho

CIMA salary survey 2010 - global report Foreword 1 Executive summary 2 Main findings 4 Salaries and bonuses 4 Salaries 4 Bonuses 6 CIMA level 7 Gender 8 Sector 9 Satisfaction with salary 10 Recruitment and retention 12 Importance of benefits 12 Receipt of benefits 14

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A ceer Ar As A chArtered globAl mAnAgement AccountAnt er t h A i ss. With cgmA, i cAn reAch for my Ambitions. 3 hy become a Chartered Global Management Accountant with CIMA? W 3ccounting and so much more A 4 The CIMA difference 5 Who is CIMA? 5 Why choose CIMA?

Last salary change was an increase of 5% 8% of comp not salary related (ie. bonus) IT Staff 87,655 118,231 139,557 Average Salary per years worked Average of 16 years working Average salary AUD 100,871 Last salary change was an increase of 9% 18% of comp not salary related (ie. bonus) TechTarget, 2016 APAC Salary .

Grade 2 ELA Week of April 13-17, 2020 Day Skill Instructions Monday . There was a city park very close to their apartment. The park was really big. Maybe part of it could be turned into a park for dogs. Then Oscar s puppy would have a place to run! 4 Now Oscar needed to turn his idea into a plan. Oscar worked very hard. He wrote letters to newspapers. He wrote to the mayor about his idea for .