The institute: the results of the 2013 CIMA salary survey, plus elections to council.
Salary survey reveals members' increasing expectations The institute's annual poll of members' and students' views on pay and the general state of the market for their skills reveals plenty to be positive about
The overwhelming majority of CIMA members and students are expecting a pay rise in the next year, according to the 2013 CIMA salary survey.
Eighty-seven per cent of members and 90 per cent of students believe that their salaries will increase over the coming 12 months, while only 9 per cent expect pay freezes to continue into 2014. In addition, 21 per cent of respondents expect their organisation to go on a recruitment drive in 2014, with 15 per cent saying that they expect to see an increase in spending on training - signifying an upturn in business confidence.
Qualified success
Responding specifically to questions about the value of the CIMA qualification, 88 per cent of members and 93 per cent of students either "agreed" or "strongly agreed" that holding the qualification enhances their career opportunities.
More than three-quarters of members and students (79 per cent) agreed that the qualification strengthens their ability to develop their careers internationally, while a similar proportion (73 per cent) said that it increases their ability to work across all areas of an organisation. Twenty-four per cent of members revealed that they worked in a business division other than finance.
Further results revealed that in many countries CIMA members' pay is increasing far more quickly than the national average. In the UK, for example, ACMAs are earning just under [pounds sterling]67,000 a year on average, while FCMAs are commanding about [pounds sterling]117,000. Moreover, students' mean earnings in the UK are a healthy 36 per cent above the national average.
Figures for average basic UK salaries represent a 13 per cent increase on last year's figures for qualified members. There was also a 9 per cent increase for students in the UK - far greater than the increase in the average national salary of 0.2 per cent reported by the Office for National Statistics. It also greatly exceeds expectations expressed in the 2012 salary survey.
Meanwhile, a higher-than-average number of members and students said that having a CIMA qualification helps them with their salary negotiations. The countries in which the largest number of respondents said that this was the case were Zimbabwe (79 per cent), Sri Lanka (75 per cent), Zambia (73 per cent)...
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