Why study CIMA?
It’s easy to lose track of why we’re studying CIMA. The path to becoming fully qualified is an arduous one and can take years to complete – especially if you fail exams along the way. With this in mind, it’s good to remind ourselves WHY we are studying CIMA and the potential career opportunities that await us in the end.
CIMA Qualified Salary
You check the average salary for CIMA qualified jobs across the globe by using the 2015 CIMA Salary Insights tool here – it’s an eye opener and a clear reminder of why we are studying!
Average Salary in the UK
- The below image shows the average salary for CIMA students who work in the pharmaceutical industry in the finance department.
- You’d be expected to be earning around £34k a year, however qualified CIMA members can expect to earning nearly DOUBLE that figure at £66k a year.
Average Salary in India
- Likewise, I done the same for people working in India who are CIMA students and qualified members working the accountancy industry.
- Here you can see that CIMA students would be earning around 3,116,349 rupees a year, but qualified CIMA member would earning over double that figure.
The criteria I selected is based on NEWLY qualified CIMA members – so really, this is just the tip of the iceberg when it comes to earning potential. The possibilities and benefits are endless. So when you want to put off your studies and delay your next exam, just remember what’s on offer once you complete the strategic level and relevant experience!
Just to show the substance behind these numbers, I’ve browsed the job sections on the CIMA jobs website and you can see that newly qualified management accountants in London can be expected to be earning around £50-55k+
As well, as part-qualified accountants in Milton Keynes earning to be earning in the region of £35k+. Moreover, when you look at being up the career ladder at such positions as Financial Controller and Finance Manager positions you can see the starting salaries are even higher.
Nevertheless, it’s not just about earning the highest salary possible that will fulfil your ambitions. Being rewarded with a challenging position that will get the best out of your skills will be the motivation for some students and becoming CIMA qualified will give you more opportunities.
For example; if a hiring manager has a choice between two candidates and one is CIMA qualified and one isn’t – you’d expect the CIMA qualified candidate to have a huge advantage and you’re likely to be a much more attractive employee for the company to employ.
Likewise, having a globally recognised accounting qualification will also give you opportunities to travel across the world and work in a host of different environments and cultures. Here is an inspiring story from a CIMA member who has worked in Portugal, Cuba, Peru and London.
You can find the 2015 CIMA salary calculator here.
And the CIMA Jobs website is located here.
So, when you are struggling for motivation or failed yet another CIMA exam, remember WHY you are studying CIMA and what’s on offer when becoming a qualified member.