UAE accountants' monthly pay? Dh60K, double their global peers'

Qualified chartered accountants in the UAE earn an average monthly salary of Dh61,804, which is almost double the average monthly salary of their global counterparts at Dh31,078.

This data has been revealed in the annual salary survey conducted by the Chartered Institute of Management Accountants (Cima) in 2015.

On the other hand, the survey shows that part-qualified Cima students earn an average monthly salary of Dh14,583.

The survey also 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.

“Management accountants are increasingly sought-after, and [are] receiving increased remuneration as a result,” said Geetu Ahuja, Cima Head of GCC, Middle East.

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.

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.

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.

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.