CIMA SALARY

SURVEY 2013
Malaysia
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Foreword
CIMA’s members and students are looking forward to rapid career
progression and salary rises well above the national average - despite the
continuing economic uncertainty. This optimistic outlook reflects the
growing demand for professionally qualified management accountants
who are focused on helping organisations – in both the public and private
sectors - to develop strategies that are successful and sustainable in the
long term.
Overall, our members and students told us that they are heading for a
dynamic future with promotion and attractive earnings packages on the
horizon. Their confidence may well have been boosted by CIMA’s joint venture with the American
Institute of Certified Public Accountants. The result of this alliance is a new global designation,
the Chartered Global Management Accountant (CGMA). The CGMA designation is rapidly gaining
globally acceptance as a mark of unparalleled excellence in business and financial management.
On average, CIMA members are earning just under RM200,000 per annum while CIMA fellows are
commanding significantly more at around RM303,000. Moreover, our students’ in Malaysia earn
on average c RM66,000 per year The 2013 survey figures for average basic salaries represent a 10%
increase compared with last year’s figures for qualified members. There was also a 3% increase
for students. However there is still a considerable gender gap among members where, on average,
women earn RM63,015 less than their male counterparts. CIMA is working hard to address this
issue, and there are signs that the younger generation is beginning to close the imbalance: the gap
between male and female students is significantly lower at just over RM1,000.
Ambition is a key driver for both members and students; 56% of members and 54% of students
said they want to develop their leadership skills, and the vast majority of our members and students
(91%) expect to be in a different role in three years’ time, while almost half (45%) expect to be in a
senior, finance-related role. The growing diversity of CIMA members as business partners is reflected
in that 20% anticipate being in a very senior, non-finance role such as CEO or leading a non-finance
division.
Our survey also revealed a preference for a more flexible approach to career progression, with
key workplace motivator being a desire for flexibility/work-life balance (53%), followed by a good
working environment (41%) and financial reward (40%). Combined, these responses give a clear
indicator to employers of what they should be offering if they want to attract the very best in
management accounting expertise.

Irene Teng
Regional Director - ASEAN & Australasia
CIMA

Salary survey results
Malaysia average salary figures
In 2013, qualified CIMA members in Malaysia
are earning on average RM173,285 in basic
annual salary plus RM25,955 in bonus
payments, totalling RM199,240 per year. Part
qualified students in Malaysia are earning
on average RM58,801 in basic annual salary
plus RM6,874 in bonus payments, totalling
RM65,675 per year.
Salary satisfaction
Of qualified members, 63% are satisfied with
their current salary compared with 41% of
students. This gives an overall average figure
of 58%, a slight decline since 2012 and 2011,
when 63% were satisfied with their salary.
Our survey shows that the average salary for
members has increased by 10% since 2012,
while there has been a smaller increase of
3% for students, which may help to explain
the difference in salary satisfaction between
members and students.
Salary increases anticipated
Over the next 12 months 95% of part
qualified students expect to receive a salary
increase, at an average rate of 8.4%. It should
Figure 1: Annual remuneration by CIMA level
RM65,675
Part qualified
students
1 IMF World Economic Outlook April 2013. Available at: http://www.imf.org/external/pubs/ft/weo/2013/01/
Accessed 25 June 2013.
2 Although this figure is based on a small number of respondents (13), it represents a statistically significant difference
against the percentages among students at other levels of the qualification.
2
be noted that around two-fifths anticipate ‘On average CIMA
a smaller than average increase, but the vast members earn
majority anticipate an increase in line with or
c.RM199k per year
above the price inflation forecast of 2.2%.1
and students earn c.
Among CIMA members, 91% expect a salary RM66k.’
increase, at an average rate of 6.1%. Although
66% anticipate an increase below this average,
the majority (88%) expect an increase roughly
in line with or above the price inflation
forecast.
‘77% of all students
Bonus is an important part of total salary agree that the
Bonus forms an important part of total annual
CIMA qualification
strengthens their
salary. 93% expect to receive one, including
position in salary
one-third (31%) who anticipate a bonus
of 20% or more on top of basic salary. The negotiations.’
average annual bonus payment among those
who will receive one is 14.5% for members
and 11.7% for students.
Qualification boosts salary deals
77% of all students agree that the CIMA
qualification strengthens their position in
salary negotiations. In particular, all students
at operational level agree (100%).2
RM199,240
Qualified
members
 3

Salary patterns
‘70% of CIMA Annual remuneration by city
members and
Average annual earnings for members and
students are students in Kuala Lumpur are higher than both
employed in large the CIMA national average and earnings in
businesses with 250 Selangor. Students in Kuala Lumpur earn 4%
or more employees, more than the national average and 6% more
than the average for Selangor. Members earn
where average
8% and 23% more respectively.
earnings are higher.’
These differences seem to have an impact on
satisfaction with salary, with 61% of those
in Kuala Lumpur being satisfied, compared to
51% in Selangor.
The largest sectors in terms of employment
of CIMA members and students are
manufacturing and engineering (23%),
construction and property (10%) and retail
and consumer goods (10%). However, in Kuala
Lumpur a focus on high-earning industries
such as banking, and financial services is
a likely reason for the higher than average
remuneration figure, in addition to differences
in living costs.
Annual remuneration by business size
70% of CIMA members and students are
employed in large businesses with 250 or more
employees. On average, these large businesses
pay members 23% more and students 18%
more than micro/small/medium businesses.
The higher average salaries in large businesses
can be explained by the greater availability
of senior finance-related and non-finance
roles available, and the predominance of the
banking sector in this category.

Figure 2: Annual remuneration by business size

Malaysia total
part qualified RM58,801 RM65,675 Malaysia total RM173,285 RM199,240
students qualified members

Micro/small/ Micro/small/medium
medium (1–249 RM53,540 RM58,585 (1–249 employees) RM140,219 RM159,359
employees)
All large (250+ All large (250+
RM61,424 RM69,307 employees) RM186,057 RM214,564
employees)

Lowest base: Micro/small/medium (1-249 employees) (31) 250–999 employees RM170,000 RM191,889
Highest base: All large (250+ employees) (62)

1,000–9,999 RM198,043 RM230,300

employees

10,000 or more
RM186,310 RM216,224
employees

Lowest base: 250–999 employees (35)

Highest base: Micro/small/medium (1-249 employees) (49)

Basic salary Bonus Total

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Business and the economy

Expectations for future pay and conditions similar level to previous years. ‘The Malaysian
Amid continuing global economic uncertainty Salary increases across the board are economy is forecast
and uneven recovery in Western markets, the anticipated by 25%, slightly down on previous to grow by an
Malaysian economy is forecast to grow by an years, but at the same time the proportions encouraging 5.1%
encouraging 5.1% in 2013. While this forecast expecting negative factors of falling profits in 2013 and there
is lower than 5.6% growth achieved in 2012, (19%), budget cuts (27%) and a recruitment is evidence of a
the 2012 figure exceeded expectations of freeze (19%) have also fallen slightly since
cautiously improving
4.4% growth.3 2012.
outlook among
There is evidence of a cautiously improving Increased outsourcing, more money available CIMA members and
outlook among CIMA members and students. for future investment and increased mergers
students.’
Almost two-fifths (37%) expect an increase and acquisitions activity are each anticipated
in business profitability and one-third (33%) by 15% of members and students. This is
anticipate an increase in headcount, at a encouraging, although slightly lower than
figures reported for 2011.

Figure 3: Expectations for the business environment over the coming 12 months − selected
indicators
52%
Business process/policy changes 43%
57%

37%
Increase in the overall profitability of business 33%
39%

33%
Increase in staff recruitment 32%
29%

27%
Budget cuts 25%
30%

25%
Salary increases 30%
30%

19%
Recruitment freeze 22%
17%

19%
Greater focus on regulatory issues 23%
33%

19%
Fall in the overall profitability of business 23%
22%

15%
Increase in outsourcing 16%
20%

15%
Increased mergers/acquisitions 16%
17%

15%
More money available for future investment 15%
18%

2013 2012 2011

3 IMF World Economic Outlook April 2013. Available at: http://www.imf.org/external/pubs/ft/weo/2013/01/

Accessed 25 June 2013.
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Working conditions The benefits package is an important

motivator for one-third (32%) of CIMA
‘93% of members Working hours members and students, along with a
and students challenging workload (28%) and job security
On average, Malaysian members and students
agree that the (22%).
work 48 hours per week, although almost one-
CIMA qualification third (29%) work longer hours.
strengthens their The CIMA qualification
Overall, 44% of members and students expect
strengthens my ability
ability to move their working hours to increase over the
to move internationally
internationally with coming 12 months, while more than one-half with my career
their career.’ (53%) expect no change. 83%
By far the most influential reason for agree
increasing hours relates to career progression
– taking on more responsibility was cited
by 71%. Other contributory factors are
understaffing/lack of resource (44%), company The CIMA qualification
growth (42%) and a change in role (37%). creates career
opportunities for me
Members and students based in Kuala Lumpur
are more likely than those in Selangor to 82%
be expecting increasing working hours due agree
to expansionary factors: taking on more
responsibility/more pressure (78% vs. 59%)
and company growth (51% vs. 24%). By
contrast, those in Selangor who anticipate The CIMA qualification
increased working hours are slightly more likely strengthens my ability
to cite understaffing/lack of resource (50% vs. to move across all
44%) and the current financial climate (17%
vs. 11%).
areas of the business
79%
agree
Motivators at work
The key motivator at work for both members
and students is flexibility/work-life balance
(52%). A good working environment (41%),
financial reward (40%) and scope of the role
(39%) are other important motivators for
around two-fifths.

Career plans
Seeking new opportunities
Only 9% of qualified members and part
qualified students see themselves in the same
role in three years’ time, suggesting a high
degree of mobility and promotion prospects.
While 45% anticipate being in a senior
finance-related role such as finance manager,
financial director, financial controller, CFO,
head of accounting/finance or self-employed
practitioner, 20% anticipate being in a very
senior non-finance role such as CEO/MD, head,
director, or manager of a non-finance division.
Among all members and students, 28% are
planning to find another job over the next six
months and a total of 61% are planning to
move job within the next two years.
61% are looking to move job within
the next two years, of which…
6
A global career ‘91% anticipate
Among the 18% of members and students being in a new role in
who plan to seek employment abroad, the next three years.’
the most popular planned destinations
are Singapore (55%) and Australia (49%).
Hong Kong (33%), the UK (20%) and New
Zealand (16%) are also favoured by notable
proportions. ‘20% expect to take
Members and students working in Kuala up a very senior non-
Lumpur are more likely to be planning a move finance role such
abroad in the next two years: 23% working in as CEO/MD, head,
the capital plan to relocate compared to 10%
director, or manager
of those in Selangor.
of a non-finance
Seeking improvements in salary (67%) and division.’
quality of life (63%) are key factors to planned
relocation, while a similar proportion (66%)
also look forward to experiencing a different
culture. Better and/or new employment
opportunities and a promotion were each
cited by almost one-half of those planning to
relocate.
82% plan to stay in Malaysia
18% plan to move abroad
 7

‘Over the coming Building skill sets management), communication, data analysis
12 months, part Over the coming 12 months, part qualified
and decision making.
qualified students students will be focusing on developing a Developing leadership skills remains important
will be focusing on broad range of managerial, communication for more than one-half (56%) of qualified
developing a broad and management accounting skills. More members. However, data analysis becomes less
range of managerial, than one-half (54%) want to develop their important in favour of strategic planning and
leadership skills. A range of other skill sets are implementation (53%) and persuading and
communication
considered important, as one-half will focus influencing (42%).
and management on personal development skills (such as time
accounting skills.’
Figure 4: Top skills that members and students wish to develop

Part qualified students Qualified members

54% Leadership 56% Leadership

50% Personal development 53% Strategic planning and implementation

49% Communication 42% Persuading and influencing

49% Data analysis
49% Decision making 36% Change management
36% Decision making
46% Strategic planning and implementation
35% Communication
41% Project management
33% Problem solving
33% Risk management
40% Skills for developing others 33% Personal development
40% Risk management
31% Relationship management
36% Persuading and influencing 31% Skills for developing others

32% Financial reporting 20% Project management

20% Operational management
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Appendix
Part qualified students Qualified members
Malaysia Base Basic salary Bonus Total Base Basic salary Bonus Total
(RM per (RM per package (RM per (RM per package
annum) annum) (RM per annum) annum) (RM per
annum)** annum)**
Total 93 58,801 6,874 65,675 172 173,285 25,955 199,240
Age
Up to 25 years 17* 37,465 3,510 40,974
25–34 years 53 52,926 5,426 58,352
35–44 years 20* 84,325 11,795 96,121

45+ years 3 *** *** ***

Age
Up to 31 years 18* 106,806 15,045 121,851
31–35 years 31 142,016 16,384 158,400
36–40 years 88 194,574 30,933 225,507
41 years and over 22* 248,636 38,278 286,915
Gender
Male 40 59,893 6,417 66,311 101 194,876 30,376 225,252
Female 53 58,025 7,199 65,224 71 142,570 19,667 162,237
Level
Operational /
24* 56,342 7,009 63,352
Management
Strategic 43 61,744 6,723 68,467
T4 professional
26* 54,135 6,918 61,053
competence
Associate 159 166,148 24,646 190,794
Fellow 13 *** *** ***
Size of organisation
Micro/small/
medium (1-249 31 53,540 5,046 58,585 49 140,219 19,140 159,359
employees)
All large (250+
62 61,424 7,883 69,307 123 186,057 28,507 214,564
employees)
250-999 21 *** *** *** 35 170,000 21,889 191,889
1,000–9,999 17 *** *** *** 46 198,043 32,257 230,300
10,000 or more 24 *** *** *** 42 186,310 29,915 216,224

*Caution: Low base, under 30. **Figures may not sum due to rounding. *** Data unavailable due to low base numbers.
 9

Appendix
Part qualified students Qualified members
Malaysia Base Basic salary Bonus Total Base Basic salary Bonus Total
(RM per (RM per package (RM per (RM per package
annum) annum) (RM per annum) annum) (RM per
annum)** annum)**
Total 93 58,801 6,874 65,675 172 173,285 25,955 199,240
City
Kuala Lumpur 43 60,414 7,709 68,122 76 193,980 30,065 224,046
Selangor 37 58,857 5,607 64,463 63 157,738 24,810 182,548
Experience since enrolling
Up to 1 year 7 *** *** ***
1−3 years 30 46,901 4,882 51,782
3−5 years 15* 58,393 7,343 65,736

5 or more years 30 77,729 9,959 87,687

Experience since qualifying
Up to 5 years 41 104,017 14,033 118,050
6–9 years 20* 154,000 21,959 175,959
10–19 years 73 175,822 25,996 201,818
20+ years 38 251,184 40,646 291,831

*Caution: Low base, under 30. **Figures may not sum due to rounding. *** Data unavailable due to low base numbers.

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 265 from Malaysia.
The response data presented in this report has
been weighted to reflect the profile of CIMA
qualified members and part qualified students
by market and level of study. All base numbers
quoted in figures report the unweighted base;
i.e. the number of responses.
10
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.
CIMA Malaysia: head office
CIMA Malaysia, Lot 1.05,
Level 1, KPMG Tower,
8 First Avenue, Bandar Utama,
47800 Petaling Jaya,
Selangor Darul Ehsan
T: +60 (0)3 77 230230/232
E: SEAsia@cimaglobal.com

© September 2013, Chartered Institute of Management Accountants