Chartered Institute of Management Accountants (CIMA) has launched a new online tool to enable members and students to calculate average salaries according to different factors.

The earning calculator will use data from the 2014 CIMA salary survey and complement the full finding published.

The calculator users can compare average salaries by industry, job role and level of experience in their respective countries.

The survey reported that the majority of CIMA members (72 per cent) and CIMA students (54 per cent) in the UAE were satisfied with their income.

More than 84 per cent anticipated a pay increase over the next 12 months of an average of 9.1 per cent, well above the anticipated economic growth of 4.4 per cent, it said.

The salary report surveyed 396 members and 530 students based in the UAE.

The qualified CIMA members in the emirates were earning Dh66,389 ($18,069) basic monthly salary including Dh9,105 in bonus payments, while the students earned on average Dh18,472 in basic salary plus Dh973 in bonus payments.

About 61 per cent of CIMA members and 74 per cent of students have plans to change jobs within the next two years.

Of those, 18 per cent of members and 10 per cent of students plan to find a job abroad. The UK and USA are the most popular destinations for relocation, followed by Australia.

Members and students agreed that the main reasons for moving abroad were to experience a different culture and an improved quality of life.

While financial reward is listed as one of the main motivators to stay in a current job, sixty five per cent respondents cited remuneration as a key factor for their future roles.

Major incentives in the current role are a challenging workload, scope of the role and a good working environment, whereas for a potential new job, following financial reward, promotion prospects and a benefits package are seen as key.

The main skill that CIMA students plan to develop during the coming year is strategic planning and implementation, followed by financial reporting and leadership, they said.

CIMA members, who tend to be further along in their careers, also plan to focus on leadership over the next year, along with strategic planning and implementation, and persuading and influencing, said the survey.

Geetu Ahuja, head of GCC, CIMA, said: “There has never been a better time to be a management accountant. Despite global economic uncertainties, CIMA members and students in the UAE are showing a combination of caution and optimism for the general business environment over the next 12 months.

“The majority anticipates salary increases and a growth in the overall profitability, but there is also an increase over last year in those who see inevitable budget cuts – 30 per cent compared to 22 per cent. This survey is an excellent reflection of the sentiment within CIMA and our new online salary calculator will help UAE members and students to explore the salary findings in greater depth and evaluate their own earnings against industry benchmarks.” - TradeArabia News Service