Careers

The world according to CIMA PQs

What were the main findings of CIMAs first-ever global salary survey of its PQs?

As CEO Charles Tilley explains in the foreword to the report, this inaugural CIMA salary survey provides a real snapshot of the issues faced by the business leaders of tomorrow – its students
Despite the severe downturn, CIMA PQs are, apparently, an extremely confident bunch – over four-fifths (83%) believe they are going to keep their job during the coming 12 months. Some 60% are even considering moving to enhance their careers. A surprising one in five wants to work overseas, predominately in English-speaking countries such as Australia, Canada and the US.
We all like to be paid top dollar, but where were the best places to be? CIMAs PQ said that if money is what you are after then you need to be in one of these sectors: technology, telecoms, utilities, banking, finance, accountancy natural resources, energy and fuel.

Give me a bonus
Now everyone loves a bonus (just be thankful that MPs don’t get one!), but what is the PQ average? Well, the 2009 survey says its 4.7%. PQs in Sri Lanka and India are expecting to receive the highest bonuses, with them equating to 10% and 11% of annual salary respectively. By contrast, 46% of those in the UK do not expect to receive a bonus. That is just the way it is!

Women need to behave
It won’t be any surprise to CIMA women but they are not being paid as much as men for doing the same job. Worryingly, at the press conference to launch the survey on an unsuspecting world, no one seemed that concerned! PQ pointed out that the old excuses didn’t wash, although some recruitment consultants present did try to justify the reason why women aren’t worth as much (email us and we will tell you who they are). So where is the best place to work if you are women and want equal pay? If you guessed Malaysia you’d be right. The worst place is South Africa, where the difference is 20%.

What students want
When it comes to what students really want from their employers, then the answer is clear. In the UK, Ireland and Sri Lanka, study leave is the most important thing for PQs. In India it was all about the bonus and in the eurozone countries and South Africa pensions are king. Only the Australian PQs wanted something different – more time in the sun and flexible hours!
The key job motivators are a challenging workload (15%), training and development (15%) and financial reward (13%). But what PQs really, really want are bonus payments for exam success. Then employers could really attract PQs if they sold/offered pay rises or bonuses as an incentive for passing exams.

Skills sets
It seems CIMA PQs are also well aware that being a good accountant is not enough. One in three feel they need to acquire or develop their persuasion and influencing skills. A whopping 41% need to improve their decision making and communications. In the UK, the key ‘need ‘ was for personal development (for example, career planning).

Working week
The typical working week for some half of PQs is between 35 and 40 hours. Indian PQs typically work the longest week, at 49.5 hours a week, and those in Ireland work the shortest (typically) at 41 hours. One in three students are under pressure to increase their workload outside their normal hours and those already working the longest hours are more likely to be expected to increase them.

[«all Career Advice]