Job Factor

Updated on: Tuesday, September 13, 2011

The Chartered Institute of Management Accountants (CIMA) students in India are confident about their future job security, according to the latest global CIMA Student Salary Survey revealed recently.

There is renewed business confidence with anticipated increases in business profitability, investment activity, staffing costs and salaries expected over the next year. While 39 per cent of part qualified students are expecting salary increases across the board within their employing businesses, in terms of their personal salaries there is much greater optimism with 82 per cent of students expecting to receive a salary increase over the next 12 months, at an average of 14 per cent. Those expecting a salary freeze have fallen sharply from 12 per cent in 2010 to 4 per cent in 2011. However, with inflation currently running high, in real terms, salary increases will be lower.

Over 95 per cent of CIMA students surveyed in India do not expect to be affected by redundancy during 2011 and 84 per cent remain confident enough to consider a job move in the next two years. The theme continues when it comes to the number of students in India who think the profitability in their organisations will fall in the coming year reducing from 54 per cent in 2009 to 4 per cent in 2011.

The survey shows the growing confidence; students have in the strength of the economy and in the resilience of business on a global scale. In 2009, 75 per cent of CIMA students in India said they were expecting to see organisational budget cuts in the coming year. In 2011, this has fallen to less than one in ten. Overall, the past decade has been a positive period in the development of India’s economy, as the global economic crisis of 2009 appears to have had only a temporary impact on GDP growth.

Arati Porwal, chief representative, CIMA India, said, “The survey reflects the strength of the CIMA qualification and how its unique focus on business offers our students a great sense of confidence and job security. With continuing economic uncertainty in many regions around the world, students believe CIMA’s professional accountancy qualification is the best way to develop their careers in the global environment.”

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