The Chartered Institute of Management Accountants (CIMA), annual salary survey 2013 reveals that CIMA members in India are now earning on average Rs. 26.33 lakhs in basic annual salary, plus Rs. 3.69 lakhs in bonus payments, totaling Rs. 30.02 lakhs per annum.
Part qualified students in India are earning on average Rs. 9.79 lakhs in basic annual salary, plus Rs. 1.07 lakhs in bonus payments, totaling Rs.10.86 lakhs per annum.
The 2013 survey figures for average total pay package for students represent a10.8% increase compared with last year. Over the next 12 months 95% of part qualified CIMA students in India expect to receive a salary increase at a rate of 13.6%, which is above the price inflation forecast of 10.8%.
A breakup of the salaries in each city where CIMA students are located reveals that CIMA students in Bangalore, Chennai and Mumbai – earn 9%, 9% and 13% more in total salary respectively than the average for CIMA students in India.
The 87% Indian CIMA members and students employed in large businesses with 250 or more employees report an average salary of Rs. 11.11 lakhs per annum, which is one-fifth more than students employed in micro/small/ medium businesses are paid (Rs. 9.16 lakhs). This is largely due to the greater availability of senior roles and the predominance of high-paying industries such as banking, and ICT/ technology and telecoms - in contrast to the prevalence of accountancy practices among micro/small/medium businesses.
Speaking about the India results of the annual salary survey, Debasish Biswas, Country Chief Representative, CIMA India said, “This year’s survey has revealed a preference for a more flexible approach to career progression from our respondents. Key workplace motivators for all are flexibility in work-life balance (47%), a good working environment (45%), a challenging workload (45%) and the scope of the role (42%). These responses are a clear indicator to employers of what they should be offering if they want to attract the very best in management accounting expertise.”
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