Members of the Chartered Institute of
Managements Accountants (CIMA) are working longer hours due to
understaffing, a lack of resources, more responsibility and more
CIMA’s 2010 members’ salary survey found the
average working week globally was 45 hours. Members in South East
Asian economies (48-50 hours) and the US (50 hours) worked the
Of the members who reported longer working
hours, 61% said this was due to understaffing or a lack of
resources. This was an increase of 12% since 2009. There was a
slight drop in the number of members saying that more
responsibility or more pressure led to longer working hours – down
3% to 63% since 2009.
CIMA reported that in developed economies,
members’ salaries were usually between two and three times the
national average. In developing economies such as Malaysia and Sri
Lanka, members’ salaries were between six and 10 times higher than
the average salary.
Bonuses featured as a significant proportion
of member remuneration. In many countries this accounted for
between 8% to 15% of total income with significantly higher bonuses
in the US (19%) and Hong Kong (20%).
CIMA members’ satisfaction with their
remuneration was down since 2009, but still high. In total, 68%
were satisfied with their salary and 79% were satisfied with their
benefits. Just over half (52%) of members were thinking about a job
move in the next two years.
CIMA executive director Ray Perry said the
survey findings show that economies around the world are beginning
to recover, but organisations need to be mindful of the pressure on
existing staff as workloads increase.
“Employee satisfaction will become
increasingly important to retain key staff and organisations should
look at creative ways to achieve this, such as providing more
flexible working options,” Perry said.