Chartered Institute of Management Accountants

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CIMA Eurozone qualifiedsalary survey 2009

CIMA salary survey 2009 – Eurozone

Foreword…………………………………………… 1

Executive summary……………………………… 2

Main findings……………………………………… 4

Salaries and bonuses…………………………….. 4

Years’ experience…………………………………. 5

Gender……………………………………………… 5

Sector ……………………………………………… 5

Regions……………………………………………. 6

Size of business…………………………………… 6

Job roles…………………………………………… 7

CIMA level………………………………………… 8

Satisfaction with salary…………………………… 9

Recruitment and retention…………………….. 10

Importance of benefits…………………………….. 10

Satisfaction with benefits…………………………. 11

Promotion prospects………………………………. 12

Working hours……………………………………… 13

Primary motivator.…………………………………. 14

Skill set requirements.…………………………….. 15

Geographical mobility………………………….. 16

Extent of movement………………………………. 16

Destination…………………………………………. 17

Economic future…………………………………. 18

Anticipated impact…………………………………. 18

One word to describe success………………….. 19

Eurozone salary information…………………… 20

Technical information…………………………… 21

Further information……………………………….. 22

Foreword

Welcome to the Eurozone results of CIMA’s inaugural global salary survey of CIMA members. Having recently launched our first ever global salary survey of CIMA students – a fascinating insight into the trends and opinions of the business leaders of today and tomorrow – we are now pleased to provide you with our latest information on the salary levels and aspirations of our members in the Eurozone.

As financially qualified business leaders, the role of the management accountant has never been more important in helping organisations around the world survive – and even thrive – in these incredibly challenging economic and financial conditions. Their views on the current climate, as well as their salary levels, bonuses and aspirations are therefore valuable in providing a barometer of how organisations are weathering the storm. This report, which focuses on CIMA members in the Eurozone, identifies a number of important trends. The main message that stands out is that over four fifths (83%) of members in the Eurozone are confident of their job security, despite the current economic climate and the toughest job market in decades. The Eurozone, along with Hong Kong, has the highest salary satisfaction level of all countries included in the global salary survey at 82% compared with 73 % globally. The average member salary in the Eurozone is €86,600 per annum. Only 65% of CIMA members in the Eurozone anticipate receiving a bonus for 2009 and the typical bonus is €8,100. But it isn’t just about the money in the Eurozone. While pensions and bonuses are the two key benefits sought from an employer, the key motivators are related to personal situations as opposed to financial or career-oriented rewards such as job satisfaction, achievement and flexibility/work life balance. However, the report as thrown up a need for parity between male and female member earnings in the Eurozone. On average men are paid 41% more than women (€103,700 compared to €73,600). As the world’s leading and largest professional body of management accountants, working at the heart of business, our members are the number one choice for business. On every level. We hope you will find the results of this survey a thought-provoking and valuable read.

Charles Tilley Chief Executive CIMA

1

Executive summary Organisations are having to ensure a delicate but crucial balance between short-term survival and securing their long-term future. While there is enormous pressure to cut costs, investing in the training and development of financial business leaders has never been more important. With this in mind CIMA sought to gauge its members’ views in the current climate and understand their salary levels and aspirations. In May 2009 CIMA launched its first ever global salary survey for qualified members. This report looks at the salaries and bonuses paid to CIMA members in the Eurozone (countries that use the euro currency), A total of 1,870 people contributed to the survey of which 530 were in the Eurozone, establishing a reliable benchmark of current and future salary potential for CIMA members. This report looks at the salaries and bonuses paid to CIMA members throughout the Eurozone and how these vary according to factors such as sector and size of business. It then goes on to examine recruitment and retention issues and identifies the geographical mobility of CIMA members. Finally, it touches upon views on the future economy.

Salaries and bonuses

The average basic salary of CIMA members in the Eurozone is €86,600 per annum.

The typical on target earnings bonus for 2009 is €8,100. The total average package is €94,700. Only 65% of CIMA members in the Eurozone anticipate receiving an on target

earnings bonus this year. For those receiving a bonus, the average is €12,500. Men, on average, earn packages worth 41% more than females (€103,700

compared to €73,600). Those with 20 years’ experience earn, on average, 92% more than those who

enrolled with CIMA within the last three years. FCMA’s earn, on average, around 38% more ACMA’s. Members based in the strategy division earn the largest packages (€116,400). On average, Fellows (FCMA’s) earn 37.5% more than Associates (ACMA’s). The Eurozone, along with Hong Kong, has the highest salary satisfaction level.

82% of respondents claim to be satisfied compared to 73% globally.

Recruitment and retention

Respondents are only marginally more satisfied with the level of benefits they receive than salary levels, with a satisfaction level of 85%.

Pensions and bonuses are the two key benefits sought from an employer. 37% consider their promotion prospects to be good or excellent with their current

employer. The average working week is 45 hours, with 52% working between 41 and 50

hours per week. For the Eurozone, as globally, the key motivators are related to personal situations

as opposed to financial or career-orientated rewards, namely, job satisfaction, and achievement and success (14% each), and flexibility/work-life balance (12%).

Around one-third (34%) want to acquire persuading and influencing skills, personal development (e.g. career planning), and skills for developing others within the next 12 months. Leadership skills are (44%) the most highly desired training requirement over the next 12 months.

2

Geographical mobility

Less than half of members (45%) intend to change jobs in the next two years. Of those who are planning to move jobs in the next two years, 26% intend to move

out of their current country. The majority only intend their relocation to be temporary (76%), typically between

one and three years (36%).

Economic future 83% of CIMA members are absolutely or fairly confident they will keep their job in

the next 12 months, of which 30% are absolutely confident. The Eurozone has the lowest proportion of members saying ‘absolutely confident’ – globally the average is 38% – largely because of Ireland’s low confidence of 26%.

The majority of people feel the credit crunch will last for a further one to two years (62%).

Members anticipate that organisations will take a number of specific actions regarding the credit crunch, most specifically to freeze salaries and recruitment (76% and 75% respectively), and cut budgets (72%).

3

Main findings Salaries and bonuses The average basic salary is €86,600 per annum, plus an on target earnings bonus of €8,100 in 2009, producing a total average package of €94,700. The average is pushed up by a small proportion of individuals (6%) earning a basic salary of over €150,000 per annum. While the average bonus among all Eurozone respondents is €8,100, rising to €12,500 when the 35% of respondents not expecting to receive a bonus in 2009 are excluded On target earnings bonuses typically account for 8% of packages, and up to 12.5% for those anticipating a bonus.

As mentioned, 35% will not be getting a bonus in 2009 (particularly women, 40%, and sole traders, 75%). The older the respondent, the less likely they are to receive an on target earnings bonus.

On average, CIMA members’ annual salary is €86,600.

The average bonus is €8,100 across all respondents.

35% do not expect to receive a bonus in 2009.

For the 65% expecting a bonus, the average is €12,500.

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€86.60

€63.70

€70.10

€81.60

€95.50

€119.20

€94.80

€68.00

€76.80

€89.00

€105.30

€130.70

0 50 100

Eurozone overall

1-3 years

4-5 years

6-9 years

10-19 years

20 years +

€ '000s

Salary Bonus Total

Average salary and bonus by years' experience since qualifying as a CIMA member (€000's)

Years’ experience Salaries increase in line with experience. Those with 20 or more years’ experience have an average package of 92% more than those who have become members in the last three years. Gender As in other areas of industry, females are not remunerated as highly as their male colleagues. In terms of average basic salary, the difference is €25,100 per annum, which represents a difference of 36.5%. However, when bonuses are taken into account, the disparity rises to €30,100 per annum, a 41% difference. One likely explanation for differences in salary and benefits between genders is that males have more work experience. Some 53% of males have more than ten years’ experience, compared to only 31% of females.

Sector CIMA is important to the broad base of international industry, with the manufacturing and engineering sector having the highest proportion of CIMA members (24%), followed by the banking, finance and accountancy sector (16%), and technology, telecoms and utilities (11%). The three main sectors hold one-half of the CIMA membership. There is also a notable presence of members in the public and not-for-profit sector (10%).

Gender Male Female

Salary mean €94,100 €69,000 Bonus mean €9,600 €4,600 Eurozone overall average €103,700 €73,600

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On average, males are earning packages of €30,100 more than females.

€96.80

€90.90

€89.60

€87.80

€85.70

€83.70

€79.40

€86.60

€107.70

€99.90

€99.70

€96.80

€95.90

€92.30

€79.50

€94.80

0 50 100 150

Eurozone overall

Other

Transport and distribution

Banking, finance and accountancy

Technology, telecoms and utilities

Retail and consumer goods

Manufacturing and engineering

Public sector and not-for-profit

€ '000s

Salary Bonus TotalAverage salary and bonus by sector (€000's)

‘

’

Those with 20 years’ experience earn, on average, 92% more than those who have enrolled within the last three years.

‘

’

Regions Ireland accounts for 81% of the responses in the Eurozone. However, it is under-represented in the high salary tier group (only 74%). Conversely, CIMA members from Belgium and Germany are the most highly represented Eurozone nations within the high salary tier.

Size of business Remuneration levels are not necessarily related to the size of the company, although members in organisations employing over 250 workers receive a package of around 32% more than sole traders.

6

€86.60

€73.20

€85.30

€84.80

€79.90

€88.40

€94.80

€74.10

€91.20

€89.80

€86.70

€98.00

0 20 40 60 80 100

Eurozone overall

Sole trader

Micro (2-9)

Small (10-49)

Medium (50-249)

Large (250+

€ '000s

Salary Bonus TotalAverage salary and bonus by number of employees (€000's)

Job roles CIMA members most commonly report their job title as financial controller or finance manager (16% each), management accountant (15%), and finance director (11%) demonstrating the strategic and diverse nature of CIMA members’ roles. Chief financial officer’s and chief executive officers/managing directors are also the job titles for 4% of respondents each. Whereas in the 2009 CIMA student salary survey job title bore little relevance to salary, among qualified CIMA members the converse is true. Board level respondents1

In terms of fitting into the business, organisational structure is slightly less traditional in the Eurozone than in the UK, as only 71% of respondents reside in the finance division compared to 78% in the UK and 76% globally. This demonstrates the diversity of career opportunities that the CIMA qualification can offer. A further 11% reside in the operations division, 5% in strategy and 4% in information technology. A significantly higher proportion of high tier earners are based within the operations function than low tier earners, although average packages are greater in the strategy division.

are significantly more likely to be in the high tier earning bracket than other respondents. However, by their very nature, these respondents account for a smaller proportion of our sample than the more popular job titles, as seen above.

1 CEO/MD = 4%, CFO=4%, FD=10%, self employed = 2%

Division Salary average

Bonus mean

Total package

Finance €83,200 €7,600 €90,800 Operations €94,500 €9,600 €104,100 Other €89,300 €6,800 €96,100 Strategy €102,900 €13,500 €116,400 Information Technology €88,700 €7,200 €95,900 Eurozone overall €86,600 €8,100 €94,700

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€86.60 €134.50 €131.30

€120.80 €95.50

€82.40 €80.10 €79.00

€62.10 €53.60

€94.80 €152.50

€150.90 €137.40

€104.70

€90.00 €87.30

€84.50 €65.00

€56.30

0 50 100 150

Eurozone overall

CFO

CEO/Managing director

Financial director

Other

Financial controller

Finance manager

Finance or business analyst

Management accountant

Accountant

€ '000s

Salary Bonus TotalAverage salary and bonus by job role (€000's)

CIMA level

In line with observations on studying status and years’ experience, the more senior the level of CIMA attainment, the higher the salary. On average, FCMA’s earn 37.5% more than ACMA’s.

Average bonuses are also significantly higher for FCMA’s – €11,600 compared to €7,700 among ACMA’slevel, or 50% higher.

FCMA’s earn, on average, around 37% more than ACMA’s.

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€86.60

€83.50

€114.10

€94.80

€91.20

€125.70

0 50 100 150

Eurozone overall

Associate

Fellow

€ '000s

Salary Bonus Total

Average salary and bonus by CIMA level (€000's)

‘ ’

Satisfaction with salary While salary levels do not guarantee job satisfaction, there is clearly a link between higher salaries and satisfaction levels. Of those earning more than €85,000, 92% are extremely or very satisfied with their salary. While 78% of mid tier earners are satisfied with their salary levels, only two-thirds of low tier earners are satisfied. Overall, 82% of respondents claim to be satisfied compared to 73% globally. The Eurozone, along with Hong Kong, has the highest salary satisfaction level. Although women are not as well remunerated as men, they are no less satisfied with their salary. FCMA’s are marginally more satisfied than ACMA’s, but there doesn’t appear to be a correlation with satisfaction levels and age.

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82%

67%

78%

92%

Eurozone overall

Low tier earners (<€55k)

Mid tier earners

High tier earners (>€85k)B

y s

alar

y le

vel

% satisfied or extremely satisfied with salary

82% 81%72%

86% 83%89%

81% 85%

Eur

ozon

e ov

eral

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Und

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1

31-3

5

36-4

0

41-5

0

51 a

nd

over

AC

MA

FC

MA

% satisfied or extremely satisfied with salary

Recruitment and retention Importance of benefits Although we have seen that satisfaction is influenced by salary level, it is clear that the surrounding benefit package is also important. Globally, pensions and bonuses are the two key benefits sought from an employer, as also seen in the Eurozone. By and large, members are receiving these as well as other important benefits. The area where expectations are not being met, however, is flexible hours where only 30% receive it but it scores 3.85 out of five in terms of importance. Other elements relating to work-life balance (e.g. extra holidays, sabbaticals and working from home) are also received by a smaller proportion of respondents than would like them. None of the benefits suggested were scored as unimportant, i.e. less than 2.5 out of five.

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2.54 2.613 3.13 3.18 3.19

3.51 3.57 3.6 3.73 3.854.12 4.21

4.62

0%10%20%30%40%50%60%70%80%90%100%

1

1.5

2

2.5

3

3.5

4

4.5

5

Leis

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Mor

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Sab

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Mob

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Com

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Sha

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Wor

king

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Con

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Ext

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Fle

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Hea

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Bon

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Pen

sion

Importance of benefits (mean score) by benefits received5 = extremely important and 1 = not at all important Receive

Employers could improve satisfaction levels by offering more flexible benefits.

‘ ’

Satisfaction with benefits In general, respondents are only marginally more satisfied with the level of benefits they receive than salary levels, with a satisfaction level of 85%. Again, the Eurozone shows the greatest satisfaction in this area; globally the level is 82% satisfaction.

Men are slightly more satisfied with the benefits they receive compared to women. However, there is little variation in satisfaction by CIMA level. Differences according to company size are seen, however, with those in micro companies being more satisfied than any other sized establishment, possibly as a result of greater respondent autonomy.

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85%

74%

82%

94%

Eurozone overall

Low tier earners (<55k)

Mid tier earners

High tier earners (>85k)B

y sa

lary

leve

l% satisfied or extremely satisfied with benefits

85% 85%

80%

88%86%

91%

86%85%

89%

93%

86% 86%85%

Euro

zone

ov

eral

l

Und

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1

31-3

5

36-4

0

41-5

0

51 a

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ACM

A

FCM

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Sole

trad

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Mic

ro (2

-9)

Smal

l (10

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Med

ium

(50-

249)

Larg

e (2

50+)

% satisfied or extremely satisfied with benefits

Promotion prospects A relatively optimistic 37% – given the current recession – consider their promotion prospects with their current employer to be good or excellent. Optimism appears to wane with age though, but not significantly until over the age of 51.

There appears to be polarization regarding promotion prospects with those in the largest and smallest establishments being the most positive regarding them. .

There is less difference between the confidence levels according to CIMA membership status in the Eurozone than globally, with optimism barely varying. .

Members’ optimism about their career prospects decreases slightly with age.

37%

43%

40%

40%

36%

18%

Eurozone overall

Under 31

31-35

36-40

41-50

51 and over

Age

Promotion prospects (those saying excellent or good)

37%

33%

29%

30%

26%

41%

Eurozone overall

Sole

Micro (2-9)

Small (10-49)

Medium (50-249)

Large (250+)

Size

Promotion prospects (those saying excellent or good)

37%

37%

39%

Eurozone overall

ACMA

FCMA

Stat

us

Promotion prospects (those saying excellent or good)

12

‘

’

Working hours The typical working week for the majority of respondents (52%) is between 41 and 50 hours, with 19% working more than this. Just over three-quarters of men are in the 41+ hour group. A further 23% of members work between 35 and 40 hours, while only 6% work less than 35 hours a week. The average is 45 hours per week. However, around a third of members are under pressure to increase their workload outside normal hours. It would appear that the old adage of ‘the more you do the more you are expected to do’ is coming into play, with those already working the longer hours more likely to be expected to increase them. This is particularly the case for men.

Increased workload can often be as a result of career progression, with 62% of those anticipating increased hours having taken on increased responsibilities or a more pressurised position. However, the effect of the recession may well already be starting to be felt as understaffing/lack of resources was the next most common reason (46%).

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Increasing32%

Decreasing5%

Staying the same62%

Requirement to work outside normal hours

0% 50% 100%

Up to 35 hours

35 - 40 hours

41 - 50 hours

51 - 60 hours

More than 60 hours

Hours worked by likely change in requirement

Increasing Staying the same Decreasing

62%46%

43%31%

26%14%

Taken on more responsibility / more pressure

Understaffing / lack of resource

Current financial climate

My role has changed

Company culture

Company growth

Reasons for increasing hours

13

Primary motivator For the Eurozone, as globally, the key job motivators are related to personal situations as opposed to financial or career-orientated rewards, namely, job satisfaction, achievement and success (14% each), and flexibility/work-life balance (12%). However, flexibility/work-life balance is significantly more important for female respondents. Perhaps, surprisingly, job security (9%) didn’t feature as greatly as one might expect in the current economic climate, possibly showing members’ confidence in their own employability.

CIMA members are confident in their employability.

14%

14%

12%

11%

10%

9%

9%

8%

4%

Achievement and success

Job satisfaction

Flexibility / work-life balance

Financial reward

Scope of role / projects

Job security

Challenging workload

Good working environment

Promotion prospects

Career drivers

‘ ’

14

Skill set requirements Like CIMA students, full members are well aware that their future career necessitates them having skills beyond technical accountancy. Around one-third (34%) want to acquire persuading and influencing skills, and skills for developing others or developing themselves personally (e.g. career planning) within the next 12 months, while 32% want strategic planning and implementation skills. However, leadership (44%) is the most desired skill set over the next 12 months. There are only a few areas that women have a greater desire than men to improve their skills in, namely, reporting and analysis, and personal development (e.g. career planning, time management). In contrast, the areas where men have a greater training focus are time management, and persuading and influencing. ACMA’s typically have a greater desire to improve a wide range of skills compared to FCMA’s.

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10%

10%

13%

16%

17%

17%

19%

21%

21%

22%

23%

30%

32%

34%

34%

34%

44%

Internal audit and control

IT (hardware systems)

Budgeting

IT (software MS Excel, Word, Powerpoint, etc)

Team building

Problem solving

Time management

Decision making

Reporting and analysis

Risk management

Project management

Communication (e.g. negotiating, writing, presenting)

Strategic planning and implementation

Skills for developing others (e.g. assessing performance, coaching)

Persuading and influencing

Personal development (e.g. career planning, time management)

Leadership

Skill sets required

Geographical mobility Extent of movement Only 4% of respondents moved to the Eurozone (or countries within it) during the last 12 months – mainly from the UK, Greece, Finland, the Netherlands and Australia.

Just over one-third of members (35%) intend to change jobs in the next two years. This is the most stable workforce of all countries and is, largely due to 68% of Irish respondents expecting to remain in their current position.

Three-quarters (74%) of potential movers will stay within their current country for their next position. Nevertheless, with 26% intending to move outside the Eurozone, the geographical mobility of the CIMA qualification is demonstrated. Of those who intend to move out of their current country, only 33% are confident they will stay within the same industry sector as present. For those intending to switch, the banking, finance and accountancy, or manufacturing and engineering sectors are the most popular.

An improved quality of life (58%) is the most popular reason for moving abroad whereas, globally, experiencing a different culture was the most commonly cited reason.

16

Eurozone members are least likely to be planning on changing jobs in the next two years. 65%

7%

5%

6%

17%

Not currently seeking

0-3 months

4-6 months

7-11 months

1-2 years

Timescale to move job

6%8%

14%19%

22%28%

32%37%

40%45%

47%58%

Take time out / travelTo learn a new language

Improved employment conditionsStronger economy

Work promotionFriends and family

Internal company transferImproved salary

Better employment opportunitiesExperience a different culture

New career opportunityImproved quality of life

Relocation reasons of those likely to move abroad

‘

’

Destination Of Eurozone CIMA members who are planning to move jobs in the next two years, 26% intend to move out of their current country. They are predominantly likely to choose English-speaking countries: Australia (30%) followed by the USA (29%), Canada (20%), and UAE (18%). CIMA offers local support in all these regions, whether through CIMA offices or a partnership agreement offering member network support. The majority of Eurozone respondents only intend their relocation to be temporary (76%), typically between one and three years (26%). However, around one-quarter anticipate the move to be permanent. Mobility of CIMA qualification2

2 Does not sum to 100% as this question was multiple choice. For respondents looking to move job outside of the country in which they are currently based, they were asked, “which of the following countries would you seriously consider relocating to?”

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Canada 20%

USA 29%

Australia 30%

New Zealand 16%

UAE 18%

Switzerland 22%

UK 46%

17

Economic future Anticipated impact 30% of CIMA members in the Eurozone are absolutely confident they will keep their job in the next 12 months. However, this is the lowest proportion of members saying ‘absolutely confident’ – globally the average is 38% – and is largely because of Ireland’s low confidence of 26%.

Older members are a little more pessimistic regarding the potential length of the credit crunch, as are female members. The majority of people feel it will last between one and two years (62%).

4-6 months 7-12 months 13-18 months 19-24 months 2 years+

Anticipated length of crunchUnder 31 31-35 36-40 41-50 51 and over

During the current economic downturn, respondents expect their organisation to take a

number of specific actions: mainly to freeze salaries and recruitment (76% and 75% each), and cut budgets (72%).

30%

53%

13%

3%

2%

Absolutely confident

Fairly confident

Unsure / don't know

Not very confident

Not at all confident

Job confidence

76%

75%

72%

63%

59%

51%

42%

40%

18%

14%

13%

9%

9%

3%

Salary freezes

Recruitment freeze

Budget cuts

Fall in the overall profitability of business

Job cuts

Cuts in funding for staff training

Less money available for future investment

Business process / policy changes

Greater focus on regulatory issues

Increased merger / acquisition activity

Increase in outsourcing

Less outsourcing

Restrict merger / acquisition activity

OtherAnticipated impacts

18

Anticipated length of crunch

One word to describe success...

The size of the font reflects the number of times the word was spontaneously mentioned.

19

Eurozone salary information This section provides a breakdown of country specific salary information by key indicators (where the sample base is large enough to provide reliable information). All salary information was collected in May 2009 and is presented in local currency.

Eurozone Base: 530 Salary (€ per annum) Bonus (€ per annum) Total package (€ per annum) Total € 86,600 € 8,100 € 94,700 Salary level Low € 43,700 € 1,900 € 45,600 Medium € 70,400 € 4,500 € 74,900 High € 123,500 € 15,100 € 138,600 Age Under 31 € 60,700 € 5,100 € 65,800 31-35 € 72,400 € 6,700 € 79,100 36-40 € 84,600 € 8,300 € 92,900 41-50 € 104,200 € 10,100 € 114,300 51 and over € 111,100 € 9,500 € 120,600 Gender M € 94,100 € 9,600 € 103,700 F € 69,000 € 4,600 € 73,600 Level Associate € 83,500 € 7,700 € 91,200 Fellow € 114,100 € 11,600 € 125,700 Size Sole trader € 73,200 € 900 € 74,100 Micro € 85,300 € 6,000 € 91,200 Small € 84,800 € 5,000 € 89,800 Medium € 79,900 € 6,800 € 86,700 Large € 88,400 € 9,600 € 98,000 Years post-qualified 1-3 years € 63,700 € 4,300 € 68,000 4-5 years € 70,100 € 6,600 € 76,800 6-9 years € 81,600 € 7,400 € 89,000 10-19 years € 95,500 € 9,800 € 105,300 20 years + € 119,200 € 11,500 € 130,700

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Technical information Data collection for the CIMA Global Member Salary Survey 2009 was carried out by CIMA itself online during the period 12 May to 29 May 2009. The data was subsequently rim weighted (by Redshift Research) by CIMA member level to ensure the profile of the survey sample accurately represents all CIMA members working in industry.

13,061 CIMA members globally were selected and invited to participate (UK, Ireland, South Africa, Sri Lanka, Malaysia, Hong Kong and Australia) – a total of 1,870 completed the study globally (14.3% response rate), with 530 respondents from the Eurozone. Basic responses were as follows:

Low tier earners 84 Medium tier earners 244 High tier earners 202 Under 31 58 31-35 129 36-40 158 41-50 134 51 and over 51 Male 371 Female 159 Associate 475 Fellow 55 Sole trader 32 Micro 19 Small 36 Medium 73 Large 370 Newly-qualified 34 1-3 years 79 4-5 years 57 6-9 years 113 10-19 years 172 20 years + 75 Eurozone total 530

In order to encourage participation salary data was collected in bands, the lowest point being taken to be €22,500 for the sake of calculations.

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Further information

For further information on technical matters relating to this survey, contact yourvoice@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.

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