The IMA (Institute of Management Accountants) 2019 UAE Salary Survey shows how professional certification has a clear and definite impact on salaries with 83% of those surveyed agreeing that having a CMA opened doors to enhanced career opportunities, with 81% expressing that it also strengthened their job security in a dynamic business landscape.
The earning power of respondents in the UAE is significantly higher than those elsewhere in the MEA region. Average salaries in the UAE are 178% higher and the average total compensation is 177% higher, compared to those in MEA. Overall, respondents in the UAE earn a higher median compensation versus those in the MEA region, where the median base salary and total compensations were $16,000 and $19,000, respectively, compared with $38,095 and $41,150 in the UAE.
In addition to compensation, several factors contribute toward job satisfaction, including raises and hours worked. In the UAE, 44.4% of respondents reported that they received a raise within the past year, with an average raise of around 14.7% and a median raise of 10%. An interesting outcome of the study found that a higher percentage of women received raises in the last year, compared to men (47.5% vs. 43.3%).
Respondents were asked how they felt AI would affect their company, the finance function, and their job status in the near future. Overall, 65% felt confident that their jobs would not be replaced by AI any time soon. Furthermore, those in top management roles felt most confident that their jobs would not be replaced (84%), whereas those in lower management felt less confident (48%). Forty-nine percent of respondents either somewhat or strongly agreed that AI would greatly impact their company in the next two years, while 53% agreed that the finance function would also be impacted in the same time period.