KARACHI: The basic monthly salary of a part-qualified student of the Chartered Institute of Management Accountants (CIMA) Pakistan has decreased to Rs68,203, down by over Rs6,500 compared to last year, according to recently released CIMA Salary Survey 2012.
The CIMA 2011 survey stated that Pakistani respondents earned on average Rs74,724 in basic monthly salary.
“It’s a sensitive issue. Hence, we cannot speak to the media about it,” said Javeria Hassan, spokesperson for CIMA Pakistan, when The Express Tribune asked her about reasons for the drop in the basic monthly salary of part-qualified CIMA students in the country.
CIMA is a United Kingdom-based professional body of management accountants with a presence in all major global economies of the world.
Interestingly, the 2011 survey also stated that 63% of the respondents believed they would receive a salary increase in the next 12 months. They expected the rise to be around 14% on average.
However, the 2012 survey revealed that instead of a hike in salaries, the average basic monthly salary of a part-qualified CIMA student actually decreased by 8.7%.
While the salary expectations of part-qualified students remained largely unmet in 2011, the latest survey says 87% of students are anticipating a salary hike of approximately 14.4% over the next 12 months.
Also, satisfaction among the part-qualified graduates with regard to their current salaries has increased – 58% of the respondents are satisfied with their current salary as opposed to 51% last year.
As for their expectations for the business environment over the next one year, one-third of students said they are anticipating an increase in business profitability and salary increases across the board in their employing businesses. However, these expectations are offset to some extent by anticipated falls in profitability and salary freezes. About 14% of respondents said they expect salary freezes in 2012, as opposed to 10% in 2011.
The survey states that mobility of part-qualified CIMA students in Pakistan is high with 46% of them planning to switch jobs within six months while 79% expecting to change jobs within the next two years. Of those, 30% plan to stay within Pakistan while 70% plan to move abroad, the survey said. CIMA part-qualified students in Pakistan work 48 hours per week on average, with 27% working more than 50 hours a week, the survey said. Despite this, 42% of the respondents expect their working hours to increase in the next one year.
Seventy-four part-qualified students from Pakistan took part in the 2012 survey.
Published in The Express Tribune, September 20th, 2012.
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