CIMA Botswana part qualified salary survey 2010 · 2010-09-02 · Sector 3 Job role 3 Future 3...
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CIMA Botswana part qualified salary survey 2010
Transcript of CIMA Botswana part qualified salary survey 2010 · 2010-09-02 · Sector 3 Job role 3 Future 3...
CIMA Botswana part qualified salary survey 2010
CIMA salary survey 2010 – Botswana
Executive summary 1
Main findings 3
Salaries and bonuses 3
Sector 3
Job role 3
Future 3
Recruitment and retention 4
Satisfaction with salary and benefits 4
Benefits received 4
Importance of benefits 5
Working hours 6
Skill set requirements 7
Geographical mobility 7
One word to describe CIMA difference 8
Technical information 9
Further information 10
1
Executive summary
Botswana has for many years been regarded as having one of the most solid economies
in Africa, enjoying a sustained period of significant economic growth. No small part of
this success stems from the fact that Botswana produces 22% of the world’s diamonds,
a resource that has contributed significant wealth in recent years. However, in 2009
Botswana was forced to halve its output of diamonds and suspended a large part of its
mining activities as a result of the global recession. Botswana has also in recent years seen
a significant downturn in high-end tourism, another significant revenue income for the
country.
All this has had an obvious impact on the performance of the economy which declined by
4.6% between September 2008 and September 2009. Since then growth has been fairly flat,
although the government expects a gradual recovery of around 5% during 2010/2011.
The second annual global salary survey of CIMA students was carried out in February 2010.
A total of 2,563 employed students (who sat an exam in the last two years under the
2005 CIMA qualification structure) contributed to the survey of which 40 responses were
from Botswana. This report summarises the results of this survey with a particular focus on
Botswana, looking at how recent economic events are impacting on salary levels and benefit
packages experienced by CIMA students working there. Please note that due to small base
numbers, only indicative results are given for Botswana. The results should be viewed with
caution when compared to global averages.
Salaries and bonuses
• The average basic annual salary for CIMA students in Botswana is P162,000.
• The average bonus received is nearly P6,800, which when added to the basic salary
delivers an overall remuneration package of nearly P169,000.
• 55% of students do not expect to receive a bonus. Therefore the average amount
amongst those students who actually expect to receive one in 2010 is higher at P15,100.
• 18% of students worry that they might experience a pay freeze this year and 3% worry
about possible redundancy or a salary reduction.
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Recruitment and retention
• Only 28% of CIMA students are satisfied with their salary – this is the lowest of all
countries surveyed (the global average being 51%).
• The benefits CIMA students place the greatest importance on are pension, healthcare,
study leave, contribution/payment of CIMA fees, receiving a pay rise as an incentive for
passing exams and receiving a guaranteed bonus.
• The main benefits received by students in Botswana are pension (50%), study leave
(45%), healthcare (33%) and contribution/payment of CIMA fees (33%).
• 30% of students are satisfied with their current benefits – again the lowest figure
recorded (globally the average is 67%).
• Students typically work a 43 hour week and it is unusual for people to be called upon to
work more than 50 hours per week (only 8%).
• In terms of future skill requirements, decision making (55%), reporting and analysis (53%),
leadership (53%), strategic planning and implementation (50%), and risk management
(50%) are most highly sought.
Geographical mobility
• Only 25% of CIMA students plan to stay with their current employer over the next two
years.
• 55% are looking to move within the next six months, and the remaining 20% plan to
move within the next one to two years.
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Main findings
Salaries and bonuses
The average basic annual salary for CIMA students in Botswana is P162,000, which rises to almost
P169,000 when the average bonus of P6,800 is included.
There is a broad range of salary level in Botswana with 18% earning a basic annual salary in excess of
P240,000 while 45% earn less than P120,000.
Just under half (45%) of students feel they will receive a bonus during the coming year, indicating that
the practice of offering bonuses is fairly widespread but by no means guaranteed. The average bonus
amongst those who expect to receive one in 2010 rises to P15,100.
Bonuses equate to 4% of the remuneration package across all respondents, and rises to 9% of salary for
the 45% expecting to receive one.
40% are studying at managerial level, 35% at strategic level, 10% are TOPCIMA and 15% are passed
finalists.1
The majority of students in Botswana (85%) are currently working in Gabarone.
Sector
CIMA is important to the broad base of industry in Botswana with 30% of students employed in
accountancy firms and a further 18% employed within the banking, finance and insurance sector. 52%
of students work for a wide variety of different types of companies outside the financial services industry.
Given the low base numbers it is difficult to make comparisons across the sectors.
A third of students are working for organisations with more than 500 staff, 20% for those with between
50 and 499 staff, while the majority (47%) work for small organisations with fewer than 50 staff.
Job role
In terms of fitting into the business, organisational structure is traditional as 68% of respondents sit in
the finance division. A further 18% reside in operations.
A quarter of students are employed as accountants/financial accountants with a further 12% employed
as finance managers.
Future
There is some evidence that the tough global trading conditions are having some impact on Botswana.
18% of students worry that they might experience a pay freeze next year and a further 3% worry about
possible redundancy or a salary reduction. Nevertheless, such concerns are clearly limited to a minority
and are far less significant than in countries that have been harder hit by global conditions such as the
UK, where 45% fear a pay freeze and 9% worry about redundancy.
1 For the purposes of this survey, CIMA level data was collected under the 2005 CIMA qualification structure and refers to those at managerial level, strategic level, TOPCIMA and passed finalists. For comparison under the 2010 qualification structure, these levels are respectively now known as operational/management level, strategic level, T4 Part B Case Study and exams complete.
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Recruitment and retention
Satisfaction with salary and benefits
Only 28% of CIMA students in Botswana are satisfied with their salary. This is lowest of
all countries surveyed (the global average being 51%). Similarly, general satisfaction with
benefits received is low at just 30% – probably a reflection of relatively low receipt of
additional benefits. This is the lowest percentage of all countries surveyed – globally 67%
are satisfied with the benefits they receive.
Salary satisfaction
Benefits received
Pensions, study leave, healthcare and contribution/payment of CIMA fees all represent
additional benefits that employers commonly offer in Botswana. The table below shows
the most common benefits that students in Botswana currently receive in addition to their
remuneration package. However, Botswana typically has one of the lowest receipts of
benefits of any country surveyed.
Common benefits received by CIMA students in Botswana
Benefit Received in 2010
Pension 50%
Study leave 45%
Healthcare 33%
Contribution/payment of CIMA fees 33%
Bonus 25%
Company car/allowance 18%
Life assurance 15%
Mortgage relief 13%
Bonus as incentive for passing exams 10%
Travel benefits/allowances 10%
25%30%
3%0%
18%15%
55%55%
Extremely satisfied
Satisfied
Dissatisfied
Extremely dissatisfied
Salary Benefits
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Importance of benefits
The four benefits most commonly received by students in Botswana (pension, study leave,
healthcare and contribution/payment of CIMA fees) are the same benefits identified as the
most important overall.
To a lesser degree, receiving a guaranteed bonus is offered to a fair proportion of students
and is also deemed important.
Pay rise as an incentive for passing exams is the one benefit where there is a significant
gap between importance and the proportion of students who receive this benefit. With a
high mean importance score of 4.4 out of 5, no students in Botswana currently receive this
benefit.
Botswana has one of the highest expectations levels of all countries, with no benefits scoring
as unimportant, i.e. less than 2.5 out of 5.
Importance of benefits (mean score) by benefits received 5 = extremely important, 1 = not at all important
Working hours
CIMA students in Botswana typically work nearly 43 hours per week at present, compared to
the global average of 42 hours. It is extremely unusual to work more than a 50 hour week
(only 8%).
Very few people think it likely that the number of hours they are required to work will
decrease in future (only 2%). Indeed, 43% believe that their working hours will increase over
the coming year, compared to 35% globally.
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Importance Benefit received
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Requirement to work outside normal hours
47% of those who expect their working hours to increase cite the fact that they are taking
on more responsibility and more pressure as the cause. A significant secondary cause is
expected to be company growth, identified by 35%, which tends to lend weight to the
government’s optimism that 2010 should see a return to economic growth for the country.
Understaffing is also identified as a causal factor by 29%.
Skill set requirements
The skills that CIMA students in Botswana are keenest to acquire during the coming year
include decision making (55%), leadership (53%), reporting and analysis (53%), strategic
planning and implementation (50%), and risk management (50%). With regards to the
latter, Zambia is the only other country keener to develop this skill – both countries placing
greater emphasis on risk management than the average globally (29%).
Skill sets required
55%
53%
53%
50%
50%
48%
48%
40%
40%
38%
38%
38%
35%
30%
25%
25%
13%
Decision making
Reporting and analysis
Leadership
Strategic planning and implementation
Risk management
Budgeting
Communication (e.g. negotiating, writing, presenting)
Skills for developing others (e.g. assessing performance, coaching)
Time management
Project management
Team building
Personal development (e.g. career planning, time management)
Problem solving
Internal audit and control
IT software (MS Excel, Word, Powerpoint, etc.)
Persuading and influencing
IT (hardware systems)
43%
2%
Increasing
Decreasing
Staying the same55%
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In general, students appear fairly keen to pick up a variety of different skills with the average
student typically looking at six or seven different areas, but they are less keen than most
other countries to desire personal development training (38% compared to 54% globally).
Geographical mobility
Students in Botswana are amongst the least inclined to change employment, despite being
the most dissatisfied. 25% of CIMA students in Botswana plan to stay with their current
employer, 55% are looking to move within the next six months, and the remaining 20% plan
to move within the next one to two years.
One word to describe how CIMA is different from other accountancy qualifications...
The size of the font reflects the number of times the word was spontaneously mentioned.
UNIQUE
RelevantLEARN
Qualitycool
BUSINESS-CENTREDSuperbdiverse
businessinteresting
essentialdistinctive
Professionalism
focus Exceptional
CHALLENGINGAPPLICABLE
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Technical information
Data collection for the CIMA Global Part Qualified Salary Survey 2010 was carried out
by CIMA itself online during the period 28 January to 14 February 2010. The data was
subsequently rim weighted (by Redshift Research) by country to ensure the profile of the
survey sample accurately represents all CIMA markets.
13,980 CIMA students globally were invited to participate (UK, Ireland, South Africa, Sri
Lanka, Malaysia, India, Hong Kong, Australia, Mainland China, UAE, Pakistan, Botswana,
Russia, Poland and Zambia). A total of 2,563 completed the study globally (18% response
rate) with 40 respondents from Botswana. Please note that due to small base numbers, only
very indicative results are given for Botswana. The results should be viewed with caution
when compared to global averages. Basic responses were as follows:
For the purposes of this survey, CIMA level data was collected under the 2005 CIMA
qualification structure and refers to those at managerial level, strategic level, TOPCIMA and
passed finalists. For comparison under the 2010 qualification structure, these levels are
respectively now known as operational/management level, strategic level, T4 Part B Case
Study and exams complete.
Further information
For further information on technical matters relating to this survey, contact
For further country specific analysis and reports, visit CIMA MY JOBS at
http://myjobs.cimaglobal.com/
Both the Chartered Institute of Management Accountants and Redshift Research are Market
Research Society Company Partners. The organisations abide by the Market Research
Society’s Code of Conduct and the Data Protection Act.
Table of responses by age band
Under 25 1
25-34 20
35-44 17
45 and over 2
Total 40
Table of responses by CIMA level
Managerial 16
Strategic 14
TOPCIMA 4
Passed finalist 6
Total 40
Table of responses by gender
Male 16
Female 24
Total 40
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Global contacts
CIMA UK – Head Office26 Chapter StreetLondonSW1P 4NPUnited KingdomT. +44 (0)20 8849 2287F. +44 (0)20 8849 2450E. [email protected]
CIMA AustraliaSuite 1305109 Pitt StreetSydney NSW 2000AustraliaT. +61 (0)2 9376 9900F. +61 (0)2 9376 9905E. [email protected]/australia
CIMA BotswanaPlot 50676, 2nd Floor, Block BBIFM Building, Fairgrounds Office ParkGaborone, BotswanaPostal address:PO Box 403475Gaborone, BotswanaTelefax. +267 395 2362F. +267 395 2362/397 2982E. [email protected]/botswana
CIMA ChinaUnit 1508AAZIA Center, 15th floor1233 Lujiazui Ring RoadPudongShanghai 200120P.R.ChinaT. +86 400 820 4080 +86 (0)21 5528 5119F. +86 (0)21 5228 5120E. [email protected]/chinawww.cncima.com
CIMA Hong KongSuites 1414 – 141514th Floor Jardine HouseCentral, Hong KongT. +852 2511 2003F. +852 2507 4701E. [email protected]
CIMA IndiaUnit 1-A-1, 3rd FloorVibgyor Towers C-62, G Block,Bandra Kurla Complex,Bandra (East),Mumbai - 400 051T. +91 (0)22 4237 0100F. +91 (0)22 4237 0109E. [email protected]/india
CIMA Ireland45-47 Pembroke RoadBallsbridge, Dublin 4T. +353 (0)1 643 0400F. +353 (0)1 643 0401E. [email protected]
CIMA MalaysiaLots 1.03b and 1.05, Level 1KPMG TOWER8 First Avenue, Bandar Utama47800 Petaling JayaSelangor Darul EhsanMalaysiaT. +60 (0)3 7723 0230F. +60 (0)3 7723 0231E. [email protected]/malaysia
CIMA Middle EastOffice E01, 1st Foor, Block 3PO Box 502221Dubai Knowledge VillageAl Sofouh RoadDubai, UAET. +971 4434 7370F. +971 4434 1998E. [email protected]/middleeast
CIMA PakistanNo. 201, 2nd floor Business ArcadePlot No. 27 A, Block 6, P.E.C.H.S.Shahra-e-FaisalKarachi, PakistanT. +92 21 3432 2387/88/89F. +92 21 3432 2390E. [email protected]/pakistan
CIMA Singapore51 Goldhill Plaza, #08-02Singapore 308900T. +65 6535 6822F. +65 6534 3992E. [email protected]/singapore
CIMA South Africa1st Floor, 198 Oxford RoadIllovo, JohannesburgSouth AfricaPostal address:PO Box 745, Northlands 2116, South AfricaT. +27 (0)11 788 8723/0861 CIMA SAF. +27 (0)11 788 8724E. [email protected]/southafrica
CIMA Sri Lanka356 Elvitigala MawathaColombo 5Sri LankaT. +94 (0)11 250 3880F. +94 (0)11 250 3881E. [email protected]/srilanka
CIMA Zambia6053, Sibweni RoadNorthmead, LusakaZambiaPostal address:PO Box 30640, Lusaka, ZambiaT. +260 21 1 290 219/291 708F. +260 21 1 290 548E. [email protected]/zambia
CIMA Zimbabwe6th Floor, Michael House62 Nelson Mandela Avenue,HarareZimbabwePostal address:PO Box 3831, Harare, ZimbabweTelefax. +263 (0) 4 708600/702617F. +263 (0) 4 708600/702617E. [email protected]/zimbabwe
CIMA’s global offices may change during the year, so please visit the global web links for the most up-to-date contact details. For a full list of global contacts, please visitwww.cimaglobal.com/globalcontacts
Chartered Institute of
Management Accountants
26 Chapter Street
London SW1P 4NP
United Kingdom
T. +44 (0)20 7663 5441
F. +44 (0)20 7663 5442
www.cimaglobal.com
© May 2010, Chartered Institute of Management Accountants
