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CIMA members and students in Ireland… High earners In 2014, qualified CIMA members in Ireland are earning more than twice the national average at €82,824 in basic salary plus €7,786 in bonus payments, totaling €90,610 per annum. CIMA students earn on average €41,979 in basic salary plus €2,069 in bonus payments, to a total of €44,048. This compares with a current average national salary figure of €35,7841 €44,048 €85,085 €140,520 Student ACMA, CGMA FCMA, CGMA2 Satisfied with salary Seven in ten (70%) CIMA members in Ireland are satisfied with their salary, and among students, who are still developing their careers, three fifths (60%) report they are satisfied. High salary expectations Looking forward, members and students are positive about their own salary development, with around seven in ten (69% of members and 73% of students) anticipating a salary increase over the next 12 months. Most expect it to increase by up to 3.9%, but 5% of members and 16% of students expect a salary rise of 9% or more. A quarter of members and students expect their salary to remain unchanged. On average, members and students expect salary increases of 2.7%, above the anticipated economic growth of 1.7%3. Have a mobile career More than two fifths of members (42%) and almost two thirds of students (60%) plan to change jobs within the next two years. Of those, 5% of members and 19% of students plan to find a job abroad. USA is the most popular destination for relocation. The main reasons for moving abroad for both members and students are to experience a different culture and an improved salary. Source: CIMA Salary Survey 2014, Republic of Ireland (weighted base: members 3,311; students 859) 1 Central Statistics Office. 2014 Q2. All sectors of the economy other than Agriculture, forestry and fishing. Weekly earnings multiplied by 52 for estimated annual figure 2 Caution: low base 3 International Monetary Fund: World Economic Outlook Database Are motivated by… There are different drivers for staying in a role and for looking for a potential new job. Financial reward is the main motivator, but it is of more significance for a future role than in the current job (60% for future role versus 50% for current). Key motivators in the current role are a good working environment (46%) and flexibility / work-life balance (39%), whereas for a potential new job, following financial reward, scope of the role (39%) and promotion prospects (36%) are seen as key. Plan to build skill sets The main skill that CIMA students plan to develop during the coming 12 months is leadership, particularly at Operational and Strategic levels, followed by project management skills, and personal development, such as career planning and time management. CIMA members primarily plan to focus on strategic planning and implementation, coupled with leadership skills. Members 32% Strategic planning and implementation 40% Leadership Students 30% Leadership 35% Project management 26% Persuading and influencing 35% Personal development 25% Communication 32% Strategic planning and implementation 25% Personal development 31% Financial reporting Expect the business environment to improve CIMA members and students in Ireland have a positive outlook for the general business environment over the next 12 months. There is a clear trend of increasing optimism, with more members and students than last year expecting an increase in the overall profitability of the business and salary increases generally, while expectations for negative developments like budget cuts and job cuts have decreased. Expectations for freezes in recruitment and salary are down since last year, with recruitment freezes anticipated by 15% in 2014 compared to 27% in 2013, and salary freezes down to 24%, from 34% last year. Recruitment freeze Business Environment Expectations 100% Job cuts 80% Salary freezes 60% Budget cuts 40% Salary increases 20% 0% 2009 2011 2012 2013 2014 Increase in the overall profitability of the business Source: CIMA Salary Survey 2014, Republic of Ireland (weighted base: members 3,311; students 859)