DUBAI, UAE, June 23, 2019 /PRNewswire/ --
- CMAs can earn up to 140% more in compensation than non-CMAs in the Middle East
- The survey shows how education, certification, and experience, along with other factors, affect compensation
- The survey includes respondents from UAE, KSA, Egypt, Jordan, Lebanon, Kuwait and Sudan
- 47% of the respondents felt that artificial intelligence would greatly impact their organization in the next two years
IMA® (Institute of Management Accountants) today announced the results of its 2019 Middle East Salary Survey. The study surveyed a number of IMA members from across the region particularly members from the UAE, KSA, Egypt, Jordan, Lebanon, Kuwait and Sudan.
The total number of responses in the Middle East more than tripled compared to 2017 (1,485 vs. 443). The survey analyzed how education, certification and experience, along with other factors, affect compensation.
The average base salaries and average total compensation in 2018 decreased from prior years in the Middle East. However, the results show that CMAs earn a median total compensation that is 140% higher than non-CMAs in the MEA region.
"The importance of IMA's annual salary survey is to study the continuous marketplace changes in the accounting and finance industry. Every year, the CMA reaffirms its significant impact on people's careers in the region, highlighting the value it creates in generating new career leads and opportunities," said Hanadi Khalife, director, MEA and India operations at IMA.
About 26% of the respondents in the MEA region hold the CMA® (Certified Management Accountant) certification. Average salaries for CMAs continue to be higher, with CMAs earning an average salary that is 88% higher than non-CMAs. This is an increase in the difference in compensation between those with and without the CMA compared to 2017.
The results show that the greatest value in holding the CMA is the ability to move across areas of business, as 78% agreed with this statement, and 74% of the respondents agreed that it strengthens their job security in the digital age.
When asked how artificial intelligence (AI) would impact their job, 60% of respondents felt confident that they would not be replaced by AI any time soon yet 47% of the respondents felt that AI would greatly impact their organization in the next two years.
"More than half of the respondents this year expressed their confidence that their jobs wouldn't be replaced by artificial intelligence technologies. This is a positive finding in the study as it shows that new skills will need to be developed that fit in line with new state-of-the-art technologies in the workplace, working hand in hand with human capabilities. The role of the CMA is to enable professionals to elevate their skills and advance their positions into more strategic roles within organizations," Khalife added.
The salary gap between the compensation received by women and the compensation received by men continues to be an important area of interest. In the MEA region, the report shows that overall salary gap for median total compensation is 95%. This is an improvement compared to last year, when the overall salary gap in the MEA region was 73%.
Respondents holding advanced degrees earn an average salary that is 96% higher compared to those with only baccalaureate degrees, while those in top management positions earn 88% more than those in senior management positions.
Job satisfaction increased in the MEA region, where 77.2% of respondents expressed some satisfaction with their job. Despite the fact that average compensation went down and only 38% of the respondents agreed that their compensation package was very competitive with their peers.
About IMA® (Institute of Management Accountants)
IMA®, named 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 100,000 members in 140 countries and 300 professional and student chapters Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit www.imanet.org.
About IMA's 2019 Global Salary Survey
For many years, IMA® (Institute of Management Accountants) has conducted the very popular salary survey of its members around the world, enabling its members to compare their compensation to others, assess the value of education and certification, and more. This is the fifth year IMA conducted a single global salary survey, making global trends easier to track and enhancing regional comparison. Additionally, we also look at other factors such as how members spend their time among traditional vs. strategic roles and how much they expect technology and artificial intelligence to affect their jobs. This report presents survey results for participants in the Middle East/Africa (MEA) region and India only and compares compensation levels and job satisfaction across several demographic groups. The global and individual country/region reports are posted on IMA's Thought Leadership website at www.imanet.org/salary_survey .
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SOURCE IMA (Institute of Management Accountants)