CIMA SALARY

SURVEY 2013
United States of America
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Salary survey results

USA average salary figures
‘On average, In 2013, CIMA members in the USA earn on
Figure 1: Annual remuneration by CIMA level
qualified CIMA average US$168,081 in basic annual salary
members earn plus US$25,385 in bonus payments, totalling
US$193,465.1 This compares with a national
US$232,192
c. US$193k per year US$187,054
median average income of US$40,352 and an
in total, and 44% average income of US$62,036 among those
expect to receive holding at least a bachelor’s degree.2
a bonus of 20% or
The bonus forms an important part of total
more on top of basic salary for CIMA members, with 84% expecting CIMA member CIMA member
salary.’ to receive one. While the overall expected ACMA, CGMA FCMA, CGMA4
average bonus is 13.1%, more than two-fifths
(44%) expect to receive a payment of 20% or
more on top of their basic salary.
Business and the economy

Salary satisfaction Expectations for future pay and conditions

79% are satisfied with their current salary,
which is similar to the 83% reported in 2012
and 82% in 2011.
Salary increases anticipated
91% of members are expecting to receive a
salary increase over the next 12 months, at an
average rate of 4.3%. Around two-thirds (64%)
anticipate a smaller than average increase.
Nevertheless, the average figure is above
consumer price inflation of 1.8% and the 0.4%
average rise in earnings reported for all US
workers between 2012 and 2013.3
Domestic economic growth is expected
to reach 2% in 2013,5 despite significant
headwinds from the China slowdown, tough
conditions across much of Europe and
domestic budget cuts. Growth is expected
to pick up further in 2014, to 3.1%, through
slow but steady improvements in domestic
consumer demand, house prices and wages.
Reflecting this slow and steady pace of
growth, on balance, the expectations of CIMA
members have not changed dramatically
from a year ago, and there is optimism in key
indicators.

1 Figures may not sum due to rounding.

2 Bureau of Labor Statistics (BLS), U.S. Department of Labor. News Release 10:00 a.m. (EDT) Thursday, July 18, ‘Usual
Weekly Earnings of Wage and Salary Workers Second Quarter 2013’ The weekly mean earnings figures were multiplied by
52 weeks to estimate an annual figure. Available at: http://www.bls.gov/news.release/wkyeng.nr0.htm Accessed 23
July 2013.
3 Bureau of Labor Statistics (BLS), U.S. Department of Labor. The quoted percentage rise in earnings is for the period quarter
two 2012 to quarter two 2013. Available at: http://www.bls.gov/news.release/wkyeng.t01.htm
The 0.4% rise is different from the real (adjusted for price inflation) rise in earnings reported in the Economic News
Release on Real Earnings from the BLS: ‘Real average hourly earnings rose 0.2 percent, seasonally adjusted, from June
2012 to June 2013.’ Available at: http://www.bls.gov/news.release/realer.nr0.htm Both accessed 23 July 2013.
4 Figures for FCMA, CGMA members should be treated with some caution as they are based on the responses of 17
members.
5 Reuters.com US Edition. R. Rampton, July 8, 2013 ‘White House trims economic forecast ahead of Congress
budget battle.’ Available at: http://www.reuters.com/article/2013/07/08/us-usa-economy-obama-
idUSBRE9670YD20130708 Bloomberg Businessweek Global Economics. R. Miller and S. Matthews, June 13,
2013 ‘The U.S. Economic Recovery: Long, Slow, but Still Going.’ Available at: http://www.businessweek.com/
articles/2013-06-13/the-u-dot-s-dot-economic-recovery-long-slow-but-still-going Both accessed 23 July 2013.
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In particular, the proportion expecting rising The CIMA qualification

business profits remains at just over one- creates career
half (51%). At the same time, the percentage opportunities for me
anticipating falling profits has reduced slightly,
from 15% in 2012 to 9% for the coming year.
79%
agree
One-third of members (30%) expect
increased headcount; however, the proportion
anticipating job cuts has increased from 20% The CIMA qualification
in 2011 to 27% in 2013. strengthens my ability
to move across all areas
Expectations for salaries remain good, with
two-fifths (39%) expecting increases across
of the business
75%
the board, although spend on staff training agree
may be squeezed: 14% expect an increase in
training budget, down from 21% in 2012.
Business process/policy changes remain a key The CIMA qualification
strengthens my ability
expectation (59%), and this may be due to the
to move internationally
continued anticipation of buoyant business
activity: 33% expect mergers and acquisitions
with my career
73%
to increase and 25% anticipate more money agree
being available for future investment. As
organisations seek to integrate, business
processes and policies will need to be aligned
and altered.

Figure 2: Expectations for the business environment over the coming 12 months − selected
indicators
59%
Business process/policy changes 60%
50%
51%
Increase in the overall profitability of business 51%
54%
39%
Salary increases 46%
40%
33%
Increased mergers/acquisitions 39%
39%
30%
Increase in staff recruitment 29%
25%
27%
Job cuts 29%
20%
26%
Increase in outsourcing 25%
23%
25%
More money available for future investment 24%
24%
22%
Budget cuts 20%
29%
14%
Recruitment freeze 19%
24%
14%
Increased spend on staff training 21%
20%
9%
Fall in the overall profitability of business 15%
16%

2013 2012 2011

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Working conditions Career plans

‘90% anticipate Working hours Seeking new opportunities

being in a new role On average, members in the USA work 49 90% of members see themselves in a different
in the next three hours per week. There is a culture of long role in three years’ time, suggesting a high
years, including hours, and 91% say they regularly work more degree of mobility and promotion prospects.
one-quarter who than 40 hours per week. This consists of one-
50% anticipate being in a senior finance-
plan to be in a very half (51%) working 41−50 hours per week,
related role in three years’ time, such as
one-third (36%) working 51−60 hours, and
senior non-finance finance manager, financial director, financial
5% who tend to work more than 60 hours per
role.’ controller, CFO, head of accounting/finance
week.6
or self-employed practitioner. A further 26%
Despite these typically long hours, one-third anticipate being in a very senior non-finance
(32%) expect to spend more time at the office role such as CEO/MD, head, director or
over the coming 12 months. The key reason manager of a non-finance division.
for increased working hours is related to career
13% are planning to find another job over
progression: 50% mention taking on more
the next six months and a total of 54%
responsibility/more pressure. This is followed
are planning to move job within the next
by company culture (45%), understaffing/lack
two years. One-third (31%) of those plan
of resource (36%) and company growth (24%).
to move abroad, primarily to the UK and
Motivators at work Australia. Many are foreign nationals who
‘Over the coming will be returning to their home country, and
In 2013 the key motivator at work is the scope being closer to friends and family is the most
12 months almost of the role (52%). This is closely followed by a frequently mentioned reason for moving out
one-half of CIMA challenging workload (50%), financial reward of the USA.7
members will (48%) and a good working environment (45%).
be focusing on Figures show that female members in the USA
developing their are significantly more motivated than males
leadership skills.’ by a good working environment (mentioned
by 76% versus 39% of males), and flexibility/
work-life balance (58% versus 31%).

69% plan to stay in the USA

54% are looking to move job
within the next two years, of which…
31% plan to move abroad

6 Figures may not sum due to rounding.

7 Precise figures have not been provided due to the low base of 18 respondents planning to move abroad in the next two
years.
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Building skill sets

Over the coming 12 months, almost one-half
(45%) of CIMA members will be focusing
on developing their leadership skills. Other
managerial and management accounting skills
will also be important, especially strategic
planning and implementation (34%) and
change management (25%). In addition,
members will be looking to develop their
interpersonal skills: persuading and influencing
(35%), skills for developing others (29%) and
relationship management (25%)

Figure 3: Top skills that qualified members

wish to develop

45% Leadership

35% Persuading and influencing

34% Strategic planning and implementation

29% Personal development

29% Skills for developing others

25% Relationship management

25% Change management
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Appendix
Technical information
Survey responses were collected by CIMA
among active qualified members and part
qualified students between 25 April and 19
May 2013, via an online survey. The data was
analysed and reported by an independent
specialist consultancy.
Approximately 25,000 qualified members
and just over 21,000 part qualified students
were selected and invited to participate in the
international study, which covers 23 markets in
total. Within the study period 6,039 responded
internationally, including 106 qualified
members working in the USA.
The response data presented in this report has
been weighted to reflect the profile of CIMA
qualified members. All base numbers quoted
in figures report the unweighted base; i.e. the
number of responses.
Further information
For further information on technical matters
relating to this survey, contact
yourvoice@cimaglobal.com
For further country specific analysis and
reports, visit CIMA MY JOBS at
http://myjobs.cimaglobal.com
Acknowledgements
This research was conducted by CIMA
in conjunction with Spotlight Market
Research & Editing. The Chartered Institute
of Management Accountants is a Market
Research Society Company Partner. Both CIMA
and Spotlight abide by the Market Research
Society’s Code of Conduct and the Data
Protection Act.
Chartered Institute of
Management Accountants
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London SW1P 4NP
United Kingdom
T. +44 (0)20 7663 5441
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© September 2013, Chartered Institute of Management Accountants