At 61K, Accountants in UAE Earn Double their Global Peers
DUBAI: A chartered accountant in the UAE earns an average monthly salary of Dh61,804, which is almost double than their global counterparts who take home Dh31,078, a survey has pointed out.
The annual salary survey conducted by the Chartered Institute of Management Accountants (Cima) in 2015, however, shows that part-qualified Cima students earn an average monthly salary of Dh14,583, reported Emirates 24/7.
The survey also reportedly lists the salaries for other roles in the industry. An Associate draws a monthly average of Dh36,303, whereas a Fellow with over 12 years of experience holding a C-suite position receives an average monthly salary of Dh202,083.
The salary breakdown of part-qualified students reveals that individuals at management level positions draw an average monthly salary of Dh8,750 and those at strategic levels earn Dh17,500. Part-qualified students also expect an 18 per cent higher salary increase than members moving forward, the report said.
“Management accountants are increasingly sought-after, and [are] receiving increased remuneration as a result,” Geetu Ahuja, Cima Head of GCC, Middle East, was quoted as saying in the report.
The salary survey was conducted online by Cima between May 12 and June 8, 2015. During the study period, 125,902 Cima members and students responded internationally, including a weighted base of 1,185 from the UAE, said the Dubai-based news portal.
A previous survey by recruitment firm Robert Half International highlighted that professionals in accounting and finance with Cima qualification are sought-after in the country along with executives with ACA, ACCA skills and those experienced with accounting standards US GAAP, IFRS and SOX, it added.
That report also stated that accounting and finance skills shortage is already concerning CFOs in the region, who report that it is increasingly difficult to find the right candidates. The vast majority (93 per cent) of CFOs say that they find it challenging to find skilled financial professionals today.
The main reason for this challenge is the lack of niche, technical experts available in the market with commercial business skills, Emirates 24/7 quoted the report as saying.
Looking at the roles that are most difficult to fill, CFOs state that functional areas including accounting, financial and management control, business and financial analysis and audit present the toughest challenges, the report pointed out.