2015 Global Salary Survey

ima
The Association of
Accountants and
Financial Professionals
in Business
2015 Global Salary Survey
About IMA
IMA, the association of accountants and financial
professionals in business, 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 80,000 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/Africa.
For more information about IMA, please visit
www.imanet.org.
March 2016
Institute of Management Accountants
10 Paragon Drive, Suite 1
Montvale, NJ, 07645
www.imanet.org/thought_leadership
www.imanet.org/salary_survey

About the Author
Kip Krumwiede, CMA, CPA, Ph.D., is the director of
research for IMA. Kip received his Master of Accounting
degree from Brigham Young University and his Ph.D.
from the University of Tennessee. Prior to joining IMA,
Kip spent 18 years as a management accounting
professor at Brigham Young University, Boise State
University, and University of Richmond. He has also
worked for two Fortune 500 companies in a variety
of positions. Kip has published many articles in both
practice and academic journals. He can be reached at
(201) 474-1732 or kkrumwiede@imanet.org.

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 report presents high-level results from this survey and compares compensation
levels and job satisfaction across the globe. This is the second 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 that contribute to job satisfaction,
such as hours worked, opportunity for advancement, and work-life balance. Individual
country- and region-specific reports will be posted on IMAs Thought Leadership website
at www.imanet.org/salary_survey.
How We Conducted the Survey
We report the results of our second annual global salary survey

of members of the IMA. Over 2,500 responses were received
from over 80 countries. For the first time, the number of Chinese
respondents exceeded the number of U.S. respondents, reflecting
the global growth of IMA.
O
verall, salaries were lower across Europe and the Middle East/
Africa regions. Respondents from Switzerland reported the
highest overall median base salary and total compensation.
Egypt had the lowest overall median compensation. The good
news is that more than three-fourths expect a median pay raise of
8% this year.
T
he gender gap narrowed slightly for those later in their careers
but still remains high, especially in Asia and Europe. In the 20-29
age range, the pay gap is close to zero overall, especially in the
Middle East/Africa region.
T
he CMA premium continues to be strong in all regions. Overall
the median base salary and total compensation is 61% higher
for CMAs over non-CMAs. It is especially high in the Asian and
Middle East/Africa regions and is strong for all age groups.
CMAs also rate the designation high in helping them move
across different areas of the company.
In October-November 2015, survey

invitations were sent to 23,373
U.S. and international members.
We received 2,766 responsesan
11.8% response rate. Of these,
2,740 responses were usable
(included both country and salary
information). For the purposes of
the salary results, we considered
only respondents who indicated
that they were either full-time
employees or self-employed, which
reduced the number of responses
to 2,593. No respondents were
younger than 20 years old. We
eliminated 8 responses for low
salaries reported (less than $100
total compensation per year),
leaving 2,585 usable responses.
T
he highest-paying responsibility areas in the U.S. are education, information systems,
corporate accounting, and finance. In other countries, the highest-paying areas are
government and internal auditing.
The average work week is 46 hours, but it varies by region and country. Almost 30% say they
are very or extremely satisfied with their work-life balance. Regarding job satisfaction, 11%
say they are very satisfied, and 42% said they are more satisfied than dissatisfied. The
factors rated as most important to job satisfaction are salary, benefits, and advancement
opportunities. The factors that rate as most satisfying are relationships with others, job
security, and how ethical issues are handled.
A Global Response
Table 1: Survey Responses by Country
Responses to the survey were indeed global, with a total of 2,585
China 28.6%
usable responses coming from 81 countries across the globe. Table 1

lists the countries that included at least 1% of survey respondents. For
the first time ever, the number of Chinese respondents outnumbered
the number of U.S. participants, reflecting the increased emphasis on
management accounting and the CMA in China.
Table 2 presents specific characteristics of respondents from the
various regions: the Americas, Asia, Europe, and Middle East/Africa.
Male respondents were more common in all regions except Asia, where
women accounted for 52% of the respondents. The Asian female
response rate continues an upward trend, having been only 22% two
years ago. Consistent with survey results for prior years, almost all
respondents have at least a baccalaureate degree (96% overall). Once
again, European respondents have the highest percentages of those
Country Percent
U.S. 26.3%
UAE 10.0%
KSA 7.0%
Egypt 3.6%
Canada 2.4%
India 2.0%
Kuwait 1.7%
Qatar 1.7%
Jordan 1.7%
Netherlands 1.2%
Lebanon 1.0%
Turkey 1.0%
holding advanced degrees (66%) and the CMA (Certified Management

Accountant) designation (61%), followed by those from the Americas. The percentage of respondents
holding the CMA designation is up for all regions, with Asia showing the highest increase from 40% last
year to 51% this year.
Table 2: Respondent Demographics

Americas
Female
Male
Mean
Median
Baccalaureate
Advanced
CMA
Top management
Senior management
Middle management
Lower management/entry level
Academic position in college/university
Asia
Europe
Middle East/Africa
Gender
37% 52% 28%
63% 48% 72%
Age
46 35 38
46 34 37
Degree
99% 91% 99%
55% 31% 66%
Certification
59% 51% 61%
Management Level
15% 5% 12%
25% 14% 27%
39% 14% 42%
16% 52% 18%
5% 14% 1%
All
14% 35%
86% 65%
36 39
35 37
99% 96%
33% 41%
50% 53%
9% 10%
30% 23%
43% 32%
16% 28%
1% 7%
As in past years, respondents from Asia tend to be younger than respondents from other
regions, and fewer hold higher-level management positions. Respondents from Europe show the
highest rate of advanced degrees (66%) while those from Asian and Middle East/African nations
show the lowest rate of advanced degrees (31% and 33%, respectively).
Finally, U.S. respondents continue to be more than 10 years older, on average, than
respondents from other regions (46 vs. 35.5, respectively). In the past they have also tended
to have the highest-ranking managerial positions, but this year Europe and Middle East/Africa
respondents are close. This finding shows that IMA members are increasingly becoming top
leaders in their companies.
Compensation
Table 3 lists the annual salary and total compensation for each major region and for the countries
with the greatest number of survey respondents. Global salaries are significantly lower than last
year overall, but much of that can be attributed to the mix of respondents going from being U.S.centric to increasingly global. The global mean and median base salary are $65,868 and $49,410,
down from $72,298 and $60,000 last year, respectively. Mean and median total compensation are
also significantly down from last year: $80,812 and $56,556 this year compared to $89,082 and
$66,000 last year, respectively. The decline is largely due to lower salaries in the Middle East and
North Africa region while compensation was relatively stable elsewhere.
As usual, these results show significant regional variation in compensation. Respondents from
Europe and the Americas continue to report the highest compensation. The Americas was the only
region to report higher median values over last year. The median total compensation increased
from $110,000 last year to $113,000. Mean salaries increased even more.
Overall, European median compensation values decreased more than 6% from last year (see
Table 4). German median base salary and the Netherlands median total compensation values were
the only ones to show an increase over last year. The results continue to show significant variation
among the countries. For example, Swiss and Dutch compensation levels are much higher than
other European countries, while those in Russia and Turkey were significantly below that of other
countries and much lower than last year, probably reflecting the current economic and political
instability of those countries. Switzerland continues to have the highest average salary and total
compensation levels among all the countries represented in the survey.
Compensation in the Middle East countries varies tremendously. Overall, it is down 13%-18%
from last year. This is likely a reflection of the economic impact of the ongoing conflict in the region
and a sharp decline in the price of oil. The only country to show an increase is Lebanon, which saw
the median total compensation increase 20% to $31,800though thats still well below its value
from two years ago. Egyptian respondents again receive the lowest levels of compensation, which
are even lower than last year. With median total compensation of $50,369, Saudi Arabia (KSA)
unseated Qatar as having the highest in this region. Qatar has a significantly lower median total
compensation this year ($40,626) compared to last year ($64,000).
Table 3: Compensation Comparison by Region and Country

Annual Base Salary
Region / Country
Mean Median
65,868 49,410
All Countries
U.S. 115,022 102,500
Canada 74,585 69,169

43,581 26,707
Asia

China 38,520 23,565
India 35,793 22,185
80,812 56,556
141,257
89,348
120,000
74,110
52,308 31,420
45,983
38,307
29,849
23,455
87,351
72,188 111,468 80,807
Europe

Mean Median
108,772 98,217 133,504 113,000
Americas

Annual Total Compensation
Germany 85,792 79,315
97,233
84,823
64,364
39,250
Netherlands 98,668 93,171
133,492 103,774
Switzerland 153,253 152,250
201,456
167,475
43,652 28,865
54,137
34,841
Egypt 12,632 6,576
16,634
8,252
Russia 44,571 31,086

Turkey 45,213 33,234
Middle East/Africa

Bahrain 40,515 19,189
Jordan 28,290 14,061
Kuwait 39,768 35,596
KSA 51,010 35,978
Lebanon 36,009 27,720
Qatar 54,376 36,234
Oman
39,393
28,708
UAE 53,371 39,197
54,976
50,186
34,440
31,567
32,463
15,045
44,533
38,067
66,791
42,220
50,369
31,800
42,274
28,772
65,075
45,500
69,310
40,626
Note: All monetary values are in U.S. dollar equivalents as of the time of the survey.
Asia continues to show the lowest average total regional compensation. While reflecting
the lower cost of living in Asia, the lower compensation level also can be partially attributed to
the younger age of respondents as well as the lower percentage of respondents in the region
who possess advanced degrees, CMA certification, or higher-level positions. This trend may be
changing, however, with the increased emphasis on management accounting and CMA in China.
As noted earlier, the percentage of respondents with CMA certification increased significantly over
last year.
As summarized in Table 4, global compensation levels decreased more than 14% from last
year, driven mostly by Europe and the Middle East/Africa regions. All regions but the Americas
showed decreased compensation levels, though Asia had only a very small percentage decrease.
Table 4: Percentage of This Years Values to Last Years Values

Annual Base Salary
Annual Total Compensation
Mean Median
Asia
103% 99% 101% 98%
Americas
102% 102%
Europe
Middle East/Africa
99% 103%
76% 94%
82% 93%
91% 82%
91% 86%
88% 82%
All Countries
Mean Median
90% 87%
Gender Pay Differences

Although compensation levels are down overall, the results show the gap between average pay
for women and for men is about the same as last year (see Table 5). This gap, however, narrowed
slightly for those in the later years of their career: For respondents 50 and over, womens median
base salaries and total compensation are 82% and 85%, respectively, of the amounts paid to their
male counterparts (up from 80% and 81% last year). More good news is that, at 98% and 94%,
respectively, the median compensation values for women in the 20-29 age range remain about the
same as those for men.
Additional insight can be gained by looking at gender compensation by region and age (see
Table 6). For respondents in the 20-29 age range, the biggest gap in compensation is found in
Europe, where womens median salary and total compensation are 63% and 65%, respectively, of
their male counterparts. In all other regions for this age group, the womens values are at least 90%
that of mens salaries and compensation. And, in the case of the Middle East/Africa region, earlycareer salaries for women exceed those for men by about 50%.
Table 5: Compensation by Gender and Age Group

Men Women

Age Range
Base Salary
Mean
Median
Total Compensation
Mean
Median
Base Salary
Mean
Median
Total Compensation
Mean
Median
20-29
30,351 16,005 34,262 19,598 24,774 15,710 27,466 18,350
40-49
99,284 79,950 121,523 93,839 73,437 67,584 90,300 78,000
30-39
50 and over

Age Range
20-29
30-39
40-49
50 and over
52,145 40,838 63,968 47,130 44,127 34,562 51,736 39,275
126,589 120,000 164,715 132,549 101,370

Women as % of Men
Base Salary
Mean
Median
97,996 123,770 113,000
Total Compensation
Mean
Median
82% 98% 80% 94%

85% 85% 81% 83%
74% 85% 74% 83%
80% 82% 75% 85%
Table 6: Median Compensation by Age, Gender, and Region

All Countries
Male
Americas
Asia
Europe
Middle East/Africa
Age Range Salary Total Salary Total Salary Total Salary Total Salary Total
20-29
30-39
40-49
16,005 19,598 56,000 60,000 15,710 17,281 62,241 64,994 10,576 12,126
40,838 47,130 87,880 97,300 31,420 36,133 58,892 64,333 32,664 39,975
79,950 93,839 103,750 125,452 62,840 67,437 101,232 125,505 63,960 74,620
50 and over 120,000 132,549 123,000 141,572 83,000 107,900 121,116 132,192 75,525 94,828

All Countries
Americas
Female
Asia
Europe
Middle East/Africa
20-29
15,710 18,350 55,800 58,500 14,139 15,710 38,917 42,189 16,406 17,498
40-49
67,584 78,000 90,958

105,458 31,420 34,798 66,096 66,096 38,499 39,282
30-39
50 and over
34,562 39,275 73,940 83,384 25,136 31,110 61,116 67,198 26,785 32,936
97,996 113,000 100,000 114,200
Womens Compensation as % of Mens (Median)

Americas
Asia
Europe
All Countries
Middle East/Africa
20-29
98% 94% 100% 98% 90% 91% 63% 65% 155% 144%
40-49
85% 83% 88% 84% 50% 52% 65% 53% 60% 53%
30-39
50 and over
85% 83% 84% 86% 80% 86% 104% 104% 82% 82%
82% 85% 81% 81%
* Insufficient female data.

In the 30-39 age group, the gap decreased in Asia from 78% last year to 86% and especially in
Europe (from 78% to 104%). In the 40-49 age group, the gap decreased in the Americas from 72%
to 84% but grew sharply in all other regions. The pay gap in Asia for this group continues to be the
greatest (50%-52%). Its alarming that womens median compensation in these other regions is only
about 50%-65% of those for men. Even more alarming is that there werent enough women in the
50 and older category to make a comparison with men.
Overall, gender pay gaps are about the same as last year. There are some notable exceptions in
certain regions and age groups, but the issue remains a relevant one. The promising news is that the
gender pay gap is small or nonexistent for those now entering the management accounting field.
The Value of CMA Certification

Around the world, salaries of those holding the CMA continue to be significantly higher than those
of non-CMAs (see Table 7). CMAs globally earn a median salary and total compensation 61% higher
than non-CMAs (compared to 59% and 63% last year, respectively). The premium is 15%-22% in
the Americas and more than 60% in Asia. This provides strong evidence to show that employers in
every region value the skills possessed by CMAs and are willing to compensate staff who have these
skills. A public accounting director in Namibia made an interesting comment: I am running my own
accounting services company, and I found there is growth in the industry as we small enterprises are
getting more clients as entrepreneurship is booming here in Namibia. So to get a CMA designation
on my letterhead will definitely boost fees income.
Table 7: Average Compensation by Certification and Region

CMA Non-CMA

Base Salary
Mean
All Countries
Americas
Asia
Europe
Middle East/Africa
Median
Total Compensation
Mean
Median
Base Salary
Mean
Median
Total Compensation
Mean
Median
73,636 61,116 92,956 68,400 56,957 38,003 66,883 42,440
117,704 103,314 148,570 125,000 96,068 90,000 112,075 102,697

45,207 32,991 56,183 39,275 41,915 20,423 48,333 23,566
96,472 79,315
128,149 88,511
72,922 60,900 85,082
70,000
48,311 35,089 60,982 41,746 39,064 25,584 47,397 29,794
CMAs as % of Non-CMAs

All Countries
Americas
Asia
Europe
Middle East /Africa
Base Salary
Total Compensation
Mean Median Mean Median
129% 161% 139% 161%

123% 115% 133% 122%
108% 162% 116% 167%
132% 130% 151% 126%
124% 137% 129% 140%
CMAs of all age groups have higher median salaries and total compensation than non-CMAs
(see Table 8). While younger CMAs do see immediate financial benefit from their CMA designation,
those in their 30s receive a whopping 40%-50% median premium for securing the designation.
One respondent wrote, The CMA did not seem to help me when I first got it at age 25, but after
a lot more work experience, it helped me to obtain my current promotion. I now work directly in
management accounting providing reports to the board of directors.
The only mean compensations not showing a premium are in the 20-29 age group, mainly
due to two non-CMA individuals, one earning $565,000 and the other $1 million annually.
10
Table 8: Compensation by Age and CMA Designation

CMA Non-CMA

Age Range
Base Salary
Mean
Total Compensation
Median
Mean
Median
Base Salary
Mean
Median
Total Compensation
Mean
Median
20-29
26,161 18,142 30,551

19,697 28,998 15,090 31,633
16,905
40-49
92,189 79,315 114,649 94,500 87,771 72,000 105,107 83,000
30-39
50 and over

55,065 47,130 67,914

51,728 43,803 31,420 51,633
36,697
130,747 120,000 174,468
138,413 104,109 102,500 122,671
115,000
CMAs as % of Non-CMAs
Base Salary
Age Range
Mean
30-39
126% 150% 132%

141%
50 and over
126% 117% 142%

120%
20-29
40-49
Median
Total Compensation
90% 120%
Mean
Median
97% 117%
105% 110% 109%

114%
Without these individuals, the mean salaries and total compensation for CMAs are 14% and
19% higher, respectively, than for non-CMAs. As one 29-year-old Jordanian chief accountant
commented, I got the 33% salary increase in the last year because I got the CMA certificate.
These results indicate the value of the CMA credential, which recipients earn through
relevant work experience, passing a rigorous two-part exam, and ongoing continuing education.
It demonstrates their mastery of the critical accounting and financial management skills needed
on the job today. A CFO for a Middle East manufacturer said, I want to declare that my most
important benefit received from the CMA program was the knowledge itself even before I have
passed the exam.
How Respondents View the CMA

As found in previous salary surveys, more than 80% of CMAs across all regions feel that their
certification enhances their ability to move across areas of the business (see Figure 1). This value
is recognized by those 1,047 respondents who are currently pursuing a CMA designation (41%
of all respondents and 87% of the non-CMAs). When asked the primary reason for pursuing the
designation, 78% said career advancement. One example given was that it helped the person
make a career shift from Human Resource function to accounting and finance.
CMAs globally also largely agree that their certification creates career opportunities (see
Figure 2). A 30-year-old financial analyst with a manufacturing company in India commented,
Earlier I was working as Sr. Financial Analyst with our factory. After completion of my CMA,
my profile was considered for role of Site Finance Manager. So I must say CMA supports me lot
for my career advancement.
11
Figure 1: CMA certification strengthens my ability to move across all areas of the business
(Percent Agree)
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Americas
Asia
Europe
Middle East/Africa
All Regions
Figure 2: CMA certification creates career opportunities for me (Percent Agree)

90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Americas
Asia
Europe
Middle East/Africa
All Regions
I want to declare that my most important

benefit received from the CMA program was
the knowledge itself even before I have
passed the exam.
12
Compensation and Education

Table 2 showed that 96% of all survey respondents hold at least a baccalaureate degree and
that 41% have an advanced degree. Table 9 shows the impact of education on compensation.
As before, the results clearly show that education pays as higher education results in greater
earnings. Overall, the median base salary for those with a baccalaureate degree is $50,635, and
they have a median total compensation of $58,300. In comparison, those with an advance degree
earn $78,550 and $90,267, respectively. In both cases, an advanced degree earns a premium of
55% more.
When looking at results by region, the difference is most pronounced in the Middle East/
Africa, where those with advanced degrees earn median salary and total compensation of $48,996
and $54,366, respectively, compared to $29,164 and $34,954 for those with only a baccalaureate
degree. Thats 68% and 56% more for those with advanced degrees. There is also a significant
difference in Asia, where those with an advanced degree earn 59% more in salary and 56% more in
total compensation compared to those with a baccalaureate.
Table 9: Compensation by Degree and Region

Baccalaureate Degree
Base Salary
Mean
Americas
Asia
Europe
Middle East/Africa
All Countries
Median
Total Compensation
Mean
Median
Advanced Degree
Base Salary
Mean
Median
Total Compensation
Mean
Median
109,115 99,000 133,888

113,000
120,210 106,000 147,486
125,403
45,711 29,625 54,854
32,991
76,231 47,130 93,890
51,451
86,747 72,000 110,884
79,613
95,325 82,638
125,242
92,365
43,768 29,164 54,332
34,954
60,602 48,996 76,993
54,366
67,255 50,635 82,539

58,300
92,093 78,550
114,426
90,267
Advanced Degree Salary Baccalaureate Degree Salary:

Americas
Asia
Europe
Middle East/Africa
All Countries
Base Salary
Total Compensation
Mean Median Mean Median
110% 107% 110% 111%

167% 159%
171% 156%
110% 115% 113% 116%

138% 168%
142% 156%
137% 155%
139% 155%
13
Responsibility Area
Salaries and total compensation vary considerably by responsibility area. Table 10 presents median
remuneration values for 14 responsibility areas. For comparison purposes, it also presents total
compensation values for this years non-U.S. respondents and for last years global (non-U.S.) survey.
(The country and region-specific salary survey reports will contain a comparison of results based on
their respective geographic areas.)
Table 10: Compensation by Responsibility Area

Global (Including U.S.)
Responsibility
Base Salary
Non-U.S., Global
This Year
Total Compensation
This Year
Base Salary
Median
Rank
Median
89,427
84,049
40,617
Total Compensation
Mean
Median
Information Systems
74,943
74,623
Corporate Accounting
72,768 65,699 87,032 73,551
Risk Management
60,054 50,748 71,344 57,369
6 40,659
6 40,600
Budgeting and Planning 61,227 47,000 73,217 55,000
5 45,645
1 55,500
54,315 46,440 63,932 48,584
11 25,136
10 26,615
General Accounting
40,562 25,584 47,725 30,404
12 19,598
11 25,000
Public Accounting
53,385 15,710 59,645 20,039
14 15,710
14 15,750
Education
Mean
Last Year
86,562 81,500 99,014 94,450
Government Accounting 66,197 66,000 74,164 72,000

General Management
Finance
Internal Auditing
Cost Accounting
89,591 65,655 114,361 75,709
71,040 48,000 90,373 55,000
60,382 47,000 74,258 57,564
Personnel Accounting 48,869 39,975 59,251 49,289

Taxation
38,112 19,638 44,926 26,969
10 29,405
Rank
Median
48,200
11 25,000
1 51,273
8 33,503
8 32,991
3
7 34,000
47,130
3 49,000
4 47,130
2 49,958
9 31,420
13 16,889
2 55,000
5 42,000
9 33,450
13 19,000
Consistent with the overall results, the median compensation in almost all responsibility areas
is significantly lower this year as compared to last year. As shown in Table 10, the highest-paying
responsibility area internationally is education (median total compensation of $94,450). Thats
followed by information systems ($84,049). Last year, the order was reversed, with information
systems ($97,500) in the lead, followed by education ($93,000). The next three highest-ranked
responsibility areas this year are government accounting, corporate accounting, and general
management. In last years (non-U.S.) global survey, these five areas were also in the top five,
although the order has changed. Public accounting remains the lowest-paid area.
The median compensation values for the top-five responsibility areas are strongly influenced by
U.S. respondents. The shaded columns of Table 10 show that non-U.S. respondents in education are
ranked 10th in total compensation, and those in information systems are seventh.
14
An especially large increase over last year

occurred in the area of government accounting,
which jumped to the top-ranked responsibility
area outside the U.S. The major reason for this
increase is a very different and smaller mix of
My job is the perfect job for me. Very, very

satisfied. I am very respected for being a
CMA & the job that I do here.
government respondents than last year who

came from countries that tend to have higher
compensation. Another area that increased significantly outside the U.S. is internal auditing,
reflecting increased corporate awareness of this area as part of risk management controls and the
resultant enhanced compensation for those with these skills.

In the current economic environment characterized by ongoing economic and geopolitical
challenges in many regions, salaries have declined in most other traditional areas of responsibility
(e.g., information systems, corporate accounting, taxation, general accounting, and budgeting
and planning). On the other hand, the need for accountants in government and internal auditing
appears to be strong.
With the inclusion of U.S. respondents in the compensation data, its evident that U.S. faculty
received much higher compensation than elsewhere. In fact, the U.S. median total compensation
for those in education is $139,000 compared to only $29,405 elsewhere. Corporate accounting,
finance, and budgeting and planning are also especially high in the U.S.
Employee Satisfaction
An important factor affecting employee satisfaction is the frequency and amount of salary increases.
Similar to last years survey, two-thirds of respondents indicate that they have had a pay increase
within the past year (see Figure 3). Further, more than 80% received a raise within the past two
years, and the majority of those who didnt expect one in the next year. The prospects for future
raises appear to be good and fairly consistent across all the regions. Seventy-seven percent of the
survey respondents believe that they are likely to receive a raise in the coming year (see Figure 4).
Figure 3: Timing of Most Recent Raise

80%
70%
nW
ithin
last year
60%
50%
n 1 to 2
years ago
40%
nM
ore than
2 years ago
30%
n I have not
received a raise
20%
10%
0%
Americas
Asia
Europe
Middle East/Africa
15
All Regions
Figure 4: Likelihood of Receiving a Raise within the Coming Year

All Regions
43%
Middle East/Africa
34%
40%
Europe
36%
51%
Asia
42%
53%
0%
10%
n S omewhat likely
25%
34%
Americas
n V ery likely
20%
26%
30%
40%
50%
60%
70%
80%
90%
The number is between 76%-79% for all regions. The Americas (53% very likely) and Europe (51%
very likely) are most confident they will receive a raise in the coming year. The overall median raise
expected is 8%.
Of those respondents who received raises, the median raise was 8%, which is the same as last
year. Regionally, raises in the Asia and Middle East/Africa regions tend to be larger (median 10%)
than those in the Americas (3.5%) and Europe (6%), but they are happening less frequently and are
smaller in absolute terms (see Figure 5).
Figure 5: Percent Increase of Most Recent Raise

n L ess than 1%
All Regions
n 1%2%
n 2 %5%
Middle East/Africa
n 5 %10%
Europe
n 1 0%15%
n 1 5%20%
Asia
n 2 0%25%
Americas
n 2 5% or more
0%
20%
40%
60%
16
80%
100%
Hours Worked
Table 11: Mean Hours Worked by Country/Region

Survey respondents worked an average of 46 hours
Mean Hours Worked
All Countries 46.0
per week (see Table 11), which is exactly the same as
Globally (excluding U.S.) 45.4
reported last year. The Netherlands replaced Germany
Americas 47.1
this year as the country with the highest hours worked
per week, averaging 49.1 hours (up from 45.5 last
U.S. 47.7
year). Next are respondents from India (48.6 hours),
Canada 42.9
Asia 44.9
U.S. (47.7 hours), and KSA (46.4). Respondents in
Russia (41.6), Canada (42.9), and Lebanon (43.0)
China 44.5
reported working the fewest hours per week. In
India 48.6
Europe 46.7
none of the countries of the major responders (those

appearing in Table 3) did respondents average fewer
Germany 46.2
Russia 41.6
Netherlands 49.1
than 40 hours of work per week.
Work-Life Balance
Switzerland 46.1
Turkey 45.9
This year we asked respondents a new question to
Middle East/Africa 45.9
assess their satisfaction with their work-life balance.
Bahrain 45.2
Jordan 45.6
Kuwait 45.6
Globally, 28% of all respondents said they were very or

extremely satisfied with their work-life balance. Only 6%
were very unsatisfied (see Table 12).

There is considerable variation among the
regions. Those in the Americas said they were the
by Europe. Respondents from Asia reported by far
Lebanon 43.0
Qatar 45.2
the lowest satisfaction, driven mostly by very low
KSA 46.4
most satisfied with their work-life balance, followed
Egypt 45.4
Oman 46.2
UAE 45.8
satisfaction in China. The results are interesting given

that Chinese respondents reported one of the lowest average hour work weeks and the U.S.
respondents reported one of the highest, as shown in Table 11. These results may be related to
overall job satisfaction and suggest that hours worked arent the only influence on achieving a
good work-life balance.
Table 12: Satisfaction with Work-Life Balance by Region

Region

Extremely
Satisfied
Very
Satisfied
Somewhat Somewhat
Very
Satisfied
Dissatisfied
Dissatisfied
Americas 12% 34% 36% 13% 4%

Asia
2% 11% 49% 31% 7%
Europe
6% 26% 47% 20% 1%
Middle East/Africa
4%
22%
51%
16%
7%
All Regions
6%
22%
46%
20%
6%
17
Figure 6 shows a more detailed breakdown by age for the percentages of those satisfied with
their work-life balance. Overall, satisfaction with work-life balance increases in each age group,
but that pattern varies when examined by region. In the Americas, satisfaction starts out high
and decreases through the 40-49 age range before increasing again in the 50 and over range. In
contrast, satisfaction in the Middle East/Africa starts low and increases at each level until it declines
again for those 50 and over. In general, people are more likely to be satisfied with their work and
personal life balance as they progress in their careers, except for in the Americas where satisfaction
is relatively high in all age ranges.
Figure 6: Extremely/Very Satisfied with Work-Life Balance by Age Group

0%
10%
20%
30%
40%
1929
50%
60%
n A mericas
n Asia
n E urope
3039
nM
iddle East/Africa
n A ll Regions
4049
50 and over
Desire to Change Jobs

Overall, 33% of respondents are looking to change jobs within the coming year, which is down from
last years 38% (see Table 13). The percentage of respondents looking to change jobs is highest in
the Middle East/Africa region, where more than half the respondents indicate they are looking for
an employment change. This isnt surprising given the
Table 13: Looking to Change Jobs by Region

Yes
No Not sure
Americas
17% 56% 27%
Asia
31% 32% 37%
Europe
35% 32% 33%
Middle East/Africa 51% 17%

All Regions
33%
33% 35% 32%
extremely low levels of compensation in some of these

countries and the relative instability of the region.
Of those expressing a desire to change jobs, 39%
are very confident they will be able to find another while
another 49% are somewhat confident. The most
commonly stated reasons to move are to find a new
career opportunity (66%), to attain an improved salary
(63%), and to secure an improved quality of life (54%).
18
Figure 7 shows an age-range breakdown by region of those looking to change jobs in the
coming year. For each region, the highest desire to change jobs occurs in the younger age
brackets (20-29 and 30-39). This makes sense since those earlier in their career will likely have
the most flexible lifestyle to accommodate a job change. As were about to see, they also tend
to have the lowest job satisfaction.
Figure 7: Looking to Change Jobs within the Coming Year

0%
10%
20%
30%
40%
Americas
50%
60%
n 1 929
n 3039
n 4 049
Asia
n 5 0 and over
n A verage
Europe
Middle East/Africa
All Regions
I think that leaders and managers have a

great part in employees satisfaction, and
with a good manager you can neglect
some weaknesses of your firm.
19
Job Satisfaction
This year, we asked respondents to assess their overall job satisfaction. Figure 8 shows an agerange breakdown for the percentages of those who said they are very satisfied overall with their
present job. As with work-life balance, we see that job satisfaction is relatively high in the Americas
for all age groups. It is a different story for younger respondents in other regions. In Asia, the job
satisfaction is very low and reaches a max of only 17% in the 50 and over age group. In Europe,
satisfaction hits 15% in the 40-49 age range and decreases slightly after 50. In the Middle East/
Africa, it is generally very low overall and only gets as high as 12% for those in their 40s. Overall,
the Americas report the highest satisfaction percentage (22%), and Asia reports the lowest (4%).
Not only did we ask respondents to rate their satisfaction with different attributes related to
their job, but we also asked them to rate the importance of each attribute to their career satisfaction
in management accounting. Table 14 indicates the level of satisfaction with and importance of a
variety of factors that affect job satisfaction. As shown, 61% said salary was very important. Other
factors rated as very important were benefits, opportunity for advancement, doing interesting and
challenging work, and how their employer handles ethical issues.
Figure 8: Job Satisfaction by Region and Age Group

0%
5%
10%
15%
20%
1929
25%
30%
n A mericas
n Asia
n E urope
3039
nM
iddle East/Africa
n A ll Regions
4049
50 and over
Average
20
Table 14: Factors Affecting Job Satisfaction

Satisfaction
Importance
More Satisfied
than Dissatisfied
Very
Satisfied
Some
Importance
Very
Important
My salary
32%
10%
30%
61%
Employee benefits
32%
11%
35%
55%
Opportunity for advancement
22%
7%
28%
58%
How my supervisor makes decisions and

includes me in the decision-making process
31%
14%
43%
43%
The way that I am acknowledged and

recognized for performing well on the job
33%
16%
41%
46%
The working relationships that I have

with others
46% 26% 42% 46%
The opportunity that I have to do interesting

and challenging work
34%
Job security
35% 20% 34% 51%
The way my employer handles ethical issues
31%
23%
31%
55%
Overall job satisfaction
42%
11%
37%
54%
19%
37%
52%
The attributes with highest satisfaction tended to be different and are consistent with
previous studies. Working relationships with others shows the highest satisfaction, followed by
job security and how their employer handles ethical situations. Noticeably low on satisfaction are
three of the most important factors: salary, benefits, and opportunity for advancement.
Although these results provide overall trends, each individual has his or her own unique
needs and talents. A 61-year-old mid-level manager for a U.S. financial services company
commented, I love my job, and unlike most of my friends am not anxious to retire. I think being
in the accounting profession contributes to my overall job satisfaction. And a 26-year-old senior
accountant with a Middle East manufacturing firm said, I think that leaders and managers
have a great part in employees satisfaction, and with a good manager you can neglect some
weaknesses of your firm.
21
So Whats New?
For many years, IMAs annual salary survey has provided insight into members compensation
levels in the U.S. and the impact on compensation of factors such as certification, gender,
education, and more. This is the second year we have had one survey for everyone. Including
members in one global survey helps us reflect the increased diversity of IMA members.
This years survey results show a decline in salaries reflecting the economic and political
challenges being faced in many parts of todays world. On the positive side, more than threefourths of survey respondents expect to receive a raise this year, with a median expected
increase of 8%. The gender pay gap remains close to zero for those in their early career stages,
and theres a slight narrowing of the gender pay gap for those in older age groups. But there
continues to be a significant pay gap, especially in Asia and Europe.
We also asked some new questions to examine respondents work-life balance and the
factors that affect their job satisfaction. Overall, almost 30% said they were very or extremely
satisfied with their work-life balance, but satisfaction varies greatly by region. Eleven percent
said they were very satisfied with their jobs, and more than 49% said they were more satisfied
than dissatisfied. We found the factors that are most important to members job satisfaction
salary and benefitsalso are the things they are least satisfied with.
The value of CMA certification remains strong around the world. CMAs report substantially
higher salaries and total compensation than their non-CMA counterparts. This salary premium,
along with the greater career opportunities available to CMAs, attests to the ongoing value of
this program.
We sincerely appreciate members willingness to share their time and data with us. For that,
we are truly grateful. Your continued support is essential as we strive to increase the value and
relevance of the salary survey for IMA members.
22

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