CIMA salary survey

[Johnone]

Since people usually ask how much SAICA article clerks/trainee accountants make, I thought it would be good to post some info from CIMA regarding their latest (2012) salary survey in South Africa.

This survey is available on CIMA's website in pdf downloadable form. I unfortunately can't find the link at this moment, but I downloaded the pdf a couple of weeks ago and will post the average salaries per level below. (I will edit this post as soon as I find the link).

For those who don't know, CIMA consist of various levels, and these are the average salaries per annum per level for 2012:

Operational level - R360,785

Management level - R389,107

Strategic level - R420,579

T4 Professional competence exam passed - R500,926

CIMA member (ACMA) - R849,983

CIMA member (FCMA) - R1,128,728

Just FYI, a person with matric can study directly with CIMA, but if you go the varsity route and complete a BCom in Management Accountancy and a Post Grad diploma in Management Accountancy (which I know Unisa offers), you can be exempted from the Operational and Management level exams, thus going straight into Strategic level. This exemption is only applicable to University degrees accredited by CIMA, so it is best to check CIMA's website to see if an institution is accredited by them.

Edit: Googling the following will get you the pdf: "CIMA+global survey+South Africa+2012"

 

[akescpt]

fsuck me hard. so i can let my wife study this without a laarnie university?

 

[Johnone]

fsuck me hard. so i can let my wife study this without a laarnie university?

Yes, if she has Matric with Math and English. But going the direct route means you first have to complete a foundational level, which consist of 5 exams to teach you the basic core stuff a person learns while obtaining a BCom degree. Having a BCom usually exempts you from the foundational level exams (depending on which subjects you took to complete your degree).

Edit: just to clarify, the foundational level is pre-Operation level. I.e. before the levels (and salaries) I posted in the OP.

 

[Gnome]

How long would it take the average person, if you were to focus on study full time, to reach "strategic" level?

 

[HavocXphere]

All the numbers in this thread are BS.

OP is smoking the good stuff. Well either that or I can triple my salary easily.

-regards, someone in the CIMA pipeline

 

[Johnone]

How long would it take the average person, if you were to focus on study full time, to reach "strategic" level?

You can complete a BCom degree in Management Accountancy in 3 years, and then a 1-year post grad diploma in Management Accountancy. That Bcom plus Post Grad diploma will exempt you from Operational and Management levels. Strategic level consist of 3 exams, which should take you another year to complete.

So, all in all, about 5 years of study. 4 Years full time and one year working and studying. (This is assuming you go the Varsity route and pass all necessary modules in quickest possible time. Going directly through CIMA could even be quicker.)

Source: Information on Unisa's and CIMA's website.

Ps. To qualify as a CIMA member, you need to pass T4 and complete 3 years of relevant work experience.

 

[Johnone]

All the numbers in this thread are BS.

OP is smoking the good stuff. Well either that or I can triple my salary easily.

-regards, someone in the CIMA pipeline

The CIMA Global Salary Survey for South Africa is freely available on the net with the salaries in the OP. I had the pdf document open before me when I typed in those figures. You are welcome to google the survey and read it for yourself.

If you still have a problem afterwards, then take it up with CIMA.

Btw, what level are you with CIMA?

 

[HavocXphere]

The CIMA Global Salary Survey for South Africa is freely available on the net with the salaries in the OP.

Yeah I know...they mailed me a hardcopy of the survey a couple months back.

My post was phrased a bit too harshly and for that I apologize. Hey if people are getting those salaries then more power to them. It just doesn't line up with what I see in the actual payrolls.

I do believe I know what the issue is though - these numbers aren't corrected for experience/years. i.e. We could have a guy doing operational level, gives up. Works 15 years in some random job. Then he founds a company and pays himself a cool bar p.a. as sole director. That gets included under "operational level". They should really make it more clear that these aren't starting salaries.

 

[Johnone]

Yeah I know...they mailed me a hardcopy of the survey a couple months back.

My post was phrased a bit too harshly and for that I apologize. Hey if people are getting those salaries then more power to them. It just doesn't line up with what I see in the actual payrolls.

I do believe I know what the issue is though - these numbers aren't corrected for experience/years. i.e. We could have a guy doing operational level, gives up. Works 15 years in some random job. Then he founds a company and pays himself a cool bar p.a. as sole director. That gets included under "operational level". They should really make it more clear that these aren't starting salaries.

With all due respect, the avg salaries per number of years experience are also given in the survey. And per sector and per job position. The survey is quite thorough IMO.

You didn't state which level you are or whether you actually are a CIMA member. From older threads I remember you stating you are studying and working towards becoming a Chartered Accountant (SAICA).

If Management Accounting graduates are doing SAICA's articles as part of their 3-year work experience, then of course they are getting paid peanuts (relatively speaking). But this does not mean the information in the survey and OP is necessarily incorrect. Some people might state they are studying towards a CIMA designation, but then they are not actually members of CIMA. It is more of a dream or desire for them.

AFAIK, only CIMA members who have completed or have been exempted from Operational level and higher are included in the survey. (The people you know might not be members or on Operational level yet).

 

[HavocXphere]

With all due respect, the avg salaries per number of years experience are also given in the survey.

Fair enough. The printed one didn't include that, but I'll take your word for it.

SAICA's articles as part of their 3-year work experience, then of course they are getting paid peanuts (relatively speaking).

Quite. I'm not using my own situation as a benchmark though. One of the advantages of SAICA articles is that by law you have access to everything...for multiple companies...including raw payroll data.

(The people you know might not be members or on Operational level yet).

Dude it took me a grand total of 10 hours (studying and exam time) to get to operational level. So yeah all the people I know are operational or higher.

Like I said - if people are getting paid that then more power to them. Hell I've seen people being paid triple the scales you posted for seriously trivial jobs, but those are flukes. On the whole the numbers I'm seeing don't line up with the survey though.

 

[Richardxtc]

Im a cima student, passed my t4 and in my final months of "articles" and dont get paid new those figures haha

 

[Johnone]

Another interesting survey to compare various qualifications. Don't know how legit it is, however.

http://www.redirecruitment.co.za/salarysurvey.html

 

[modern10]

Those salaries do seem a tad steep