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8/18/2019 Egypt Salary Survey2015
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2014 Egypt Salary Survey
Understanding and Implementing
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The Association of
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ima
2014 EGYPT SALARY SURVEY
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2014 Egypt Salary Survey
© October 2014Institute of Management Accountants10 Paragon Drive, Suite 1Montvale, NJ, 07645www.imanet.org/salary_survey
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2014 Egypt Salary Survey
About IMA®
IMA, the association of accountants and financial
professionals in business, is one of the largest and most
respected associations focused exclusively on advancing
the management accounting profession.
Globally, IMA supports the profession through research,
the CMA® (Certified Management Accountant) program,
continuing education, networking, and advocacy of the
highest ethical business practices. IMA has a global
network of more than 70,000 members in 120 countries
and 300 professional and student chapters.
Headquartered in Montvale, N.J., USA, IMA provides
localized services through its four global regions:
The Americas, Asia/Pacific, Europe, and Middle East/
Africa. For more information about IMA, please visit
www.imanet.org.
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Denis Desroches
Denis Desroches is director of research for IMA®
(Institute of Management Accountants). Prior to
joining IMA, he spent 20 years supporting organizations
with the selection, implementation, and knowledge
acquisition of enterprise performance management
systems. He also was a professor of mathematics and
business systems for 11 years at Seneca College of
Applied Arts and Technology in Toronto, Ontario.
You can reach Denis at ddesroches@imanet.org or
(201) 474-1711.
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Salary ComparisonsIn April 2014, IMA® conducted a survey of
members who worked outside the United
States. Using the survey data, we are able
to provide country-specific results based on
the responses from IMA members in Egypt.
As of April 2014, the average salary for IMA
members in Egypt is US$10,467, and the
median salary is US$4,900.1 Respondents’ average total compensation is US$27,476 (total compensation includes
salary plus additional compensation), and median total compensation is US$6,213 (see Table 1). These averages are
much lower than the global (non-U.S.) results for the same period. The large disparity between mean and median
values indicates that a large portion of the respondents earn less than the mean amounts. In fact, 78% report base
salaries below the mean, and 87% report total compensation below the mean.
Table 1 shows that, on average, base salary comprises about 38% of respondents’ total compensation. This ismuch lower than the overall percentage in the global (non-U.S.) results (79.7%).
A majority of the respondents (69%) are from Cairo. Table 2
compares the annual base pay and total compensation for
members in Cairo to those outside of Cairo. The average base
salaries for IMA members in Cairo are slightly higher than those in
the rest of Egypt, but the average total compensation is more than
double the average total compensation.
A Disappearing GenderPay GapIMA’s prior salary surveys have consistently
found a gender pay gap, with women receiving
substantially less pay than men. This year’s
study indicates that this gap is narrowing
around the globe. Analyzing the compensation
for men and women in Egypt produces some
interesting results (see Table 3). The averagebase salary for women is 179% of that for men,
but average total compensation for women is
60% of that for men. So, overall, it appears that
there is still a significant compensation gap
between the genders in Egypt.
1 All compensation data was collected in U.S. dollars and is reported here using that monetary unit. To covert to Egyptian Pound (EGP), multiply
the U.S. dollar amounts by the exchange rate prevalent at the time the survey was conducted (approximately 6.95 EGP per U.S. dollar).
38.0%
Table 2: Compensation by Location
TotalCompensationSalary
Mean
10,841
9,587
Mean
33,421
13,519
Median
4,950
4,285
Median
6,000
8,000
Cairo
Others
Table 1: Average Salary (in US$)
Global (non-U.S.)Egypt
Total Salary
35,622
52,512
Total Salary
6,213
27,476
Base Salary
30,000
41,840
Base Salary
4,900
10,467
Median
Mean
Percentage of Compensationfrom Base Salary
Table 3: Average Compensation by Gender
Women
Men
Women as a Percentage of Men
Women
Men
Women as a Percentage of Men
Egypt
Globally (excluding U.S.)
Base Salary
Base Salary
Mean
11,923
6,676
179%
Mean
41,840
46,598
90%
Mean
17,064
28,475
60%
Mean
52,512
63,604
83%
Median
7,500
4,243
177%
Median
30,000
26,100
115%
Median
10,300
5,536
186%
Median
35,622
34,000
105%
Total Compensation
Total Compensation
79.7%
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Furthermore, comparing these compensation values tells us that men are much less reliant on base salary. On
average, 70% of total compensation for women comes from base salary, while only 23% of total compensation for
men comes from base salary.
Compensation andCertifcationThe value of CMA® (Certified Management
Accountant) certification is very significant
in Egypt. On average, CMAs earn $13,936
in salary and $41,300 in total compensation,
compared to $5,588 and $8,036 for non-
CMAs. Thus, on average, members with a CMA designation earn 149% more in salary and 414% more in total
compensation than non-CMAs (see Table 4).
Compensation andEducationAll of the survey respondents in Egypt have
at least a baccalaureate degree, but only 6%
have an advanced degree (see Table A1 in
the Appendix). Table 5 shows the relationship
between education and compensation. Clearly
it supports the case that ”education pays”—on average, higher education leads to greater earnings for IMA members.
Supervisory ResponsibilitiesIn terms of supervisory responsibilities, respondents who have some supervisory responsibility but are not head of a
major department report the highest average total compensation (see Table 6). The highest average base salary is
reported by those who are the head of a major department and report directly to the CEO or Board of Directors. Those
with no supervisory responsibility earn the lowest in terms of both average base salary and average total compensation.
Table 4: Compensation by CMA Designation
Mean
SalarySalary
6,000
4,000
50%
13,936
5,588
149%
CMAs
Non-CMAs
CMA Premium
8,500
4,930
72%
41,300
8,036
414%
Median
Total Compensation Total Compensation
Table 5: Salary by Level of Education
Mean
SalarySalary
4,950
2,000
9,328
26,860
Baccalaureate degree
Advanced degree
6,107
8,500
27,247
30,780
Median
Total Compensation Total Compensation
Table 6: Supervisory Responsibilities
Mean Total Compensation
38,783
33,764
26,694
9,348
4,425
Some supervisory responsibility but not headof a major department
Head of a major department and reportdirectly to CEO or Board of Directors
Head of a major department but do not reportdirectly to CEO or Board of Directors
Little or no supervisory responsibility andreport directly to CEO or Board of Directors
No supervisory responsibility
5,493
23,878
18,841
6,748
3,997
41.6%
13.0%
20.8%
6.5%
16.9%
Mean SalaryPercent of Respondents
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Responsibility AreaFigure 1 shows a great variance in the salaries and total compensation by area of responsibility. Employees working
in the area of finance receive the highest average base salary, and those who are in budgeting and planning roles
receive the highest average total compensation. Those working in government accounting report the lowest
compensation values.
Employee SatisfactionSixty-four percent of survey respondents in Egypt received
a raise in the past year. The average raise is 12%, and the
median increase is 10%. Table 7 shows the distribution of
percentage increases for those receiving a raise.
More respondents (79%) are expecting a salary increase in
the coming year. Table 7 breaks down the increases received in
the past year and what is expected in the coming year. As thetable shows—and as is presented graphically in Figure 2—the
raises expected for next year are more modest than the raises
received this year. While no one received a raise of at least
50% within the last year, 5% of respondents are expecting
raises in excess of 50% in the coming year.
Table 7: Raises Received and Expected
Expect aRaise in theComing Year
5%
20%
36%
11%
11%
11%
3%
2%
Received aRaise in the
Past Year
8%
21%
42%
10%
15%
5%
0%
0%
Percent Raise
At Least(%)
0
5
10
15
20
25
50
100
Less Than(%)
5
10
15
20
25
50
100
Figure 1: Compensation by Responsibility Area
35,000
30,000
25,000
20,000
15,000
10,000
5,000
—
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c A c c o
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g
G e n e
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C o r p o r a t e
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u n t i n
g
F i n a n
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I n t e r
n a l A
u d i t i n
g
G e n e
r a l A c c o
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g
T a x a
t i o n
I n f o r m a t i
o n S y s t e
m s
C o s t A c
c o u n t i n
g
B u d g
e t i n g
a n d P
l a n n i n
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P e r s o
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c o u n t i n
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R i s k M
a n a g
e m e n t
G o v e
r n m e n t A
c c o u n t i n
g
Mean Salary
Mean TotalCompensation
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Other Job-related IssuesHours Worked
The average work week for Egypt respondents is 44 hours (with a median of 45 hours), which is slightly less than theoverall average for all respondents in the global (non-U.S.) survey (45.1 hours). When asked about the change in the
hours worked in the past year, 8% of Egyptian respondents indicate a decrease in their hours worked, 61% indicate
their hours had stayed the same, and 32% indicate they were working more hours. The reasons for an increase in hours
worked vary, and there are often multiple reasons. The most common reason is taking on more responsibility/more
pressure on the job (see Figure 3).
Career vs. Personal Priorities
When asked to choose between a more
flexible work schedule with slower career
advancement and a more rigid schedulewith faster advancement, more respondents
(44%) prefer the rigid schedule with faster
advancement than the flexible schedule
(18%). This appears to indicate a general
preference for career considerations over
personal considerations.
Figure 3: Reasons for Increase in Hours Worked
Taking on more responsibility/more pressureCompany growth
Change in role
Company culture
Current nancial climate
Understafng/lack of resources
0% 20% 40% 60% 80% 100%
Figure 2: Salary Raise Percentage: (Cumulative) Last Year vs. Next Year
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
5 10 15 20 25 50 100 >100
Last Year
Next Year
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Desire for Job Change
About 70% of respondents plan to look for
another job in the short term—within the
next year (see Figure 4). This represents
a high level of dissatisfaction with their
current position. Of those planning to lookfor another job, 61% would like to work in
another country, 12% would not, and 27% are
undecided. The countries mentioned most as
desirable places to move are the United Arab
Emirates and the Kingdom of Saudi Arabia.
The reasons given for considering a job
in another country are shown in Figure 5. The
most common reasons are the desire for an improved quality of life (94%) and, not surprisingly, improved salary (83%).
Employee Benefits
Figure 6 shows the additional employee benefits that respondents receive and would like to receive in their job. The
most commonly received employee benefit is healthcare or healthcare insurance, with 71% of respondents receivingthis benefit (and another 24% desiring it). And since many report compensation beyond base salary, it’s no surprise
that 70% of respondents report they are currently receiving bonuses. Another 27% desire them.
The rest of the benefits are each available to fewer than half of the respondents, though many are identified as
desirable, including share options, company-provided tablets, contribution toward IMA dues, the ability to work from
home, and travel benefits/allowances.
Figure 4: Looking to Change Jobs?
•__________ Between 6 months
and 1 year27%
•_______More than 1 year
6%
•_______No
7%
•________Not sure
17%
Within the next3 months ____________• 9%
Immediately
20% ________________•
Between 3 and6 months14% _______________•
10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Figure 5: Reason for Considering a Move to Another Country
Improved quality of life
Improved salary
New career opportunity
Experience a different culture
Better employment opportunities
Stronger economy
Improved employment conditions
Work promotion
Take time off/travel
Internal company transfer
To learn a new language
Friends and family
0%
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Lower Average Salaries and CompensationThe average base salary and total compensation for IMA members in Egypt are much lower than the global
averages. There is a tendency, especially among men, for a substantial portion of compensation to come from
somewhere other than base salary. There is a significant gap between the total compensation reported by men and
women. The average base salary for women exceeds that of men, but average total compensation for women lags
well behind that for men. Most IMA members in Egypt received raises in the current year, with more respondents
expecting increases in the coming year.
Other important findings are that more respondents are willing to accept more rigid schedules in order to
advance their careers—pointing out a general priority toward their career vs. personal priorities.
A majority of workers look to change jobs in the next year, reflecting a desire for an improved quality of life and
better compensation. And the value of participation in the CMA program continues to be clear: On average, CMAs
in Egypt earn 149% more in salary and 414% more in total compensation than non-CMAs.
Figure 6: Benefts Currently Received or Desired
Healthcare/healthcare insurance
Bonus
Life insurance
Company car/allowance
Pension
Mobile phone
Flexible hours
Travel benets/allowance
Extra holidays
Contribution/payment of IMA dues
Share/share options
Working from home
iPad or tablet
Don’t receive but would like to
Currently receive
0% 20% 40% 60% 80% 100%
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AppendixIMA conducted a global survey of its members in April 2014 to examine compensation levels, salary trends, and
other employment-related factors. A total of 77 usable responses were received, representing about 4% of IMA’s
members in Egypt. This report examines those responses in detail.
Respondent DemographicsTable A1 contains the demographic characteristics of
the respondents from Egypt. Respondents are more
likely to be male (79%), and, while all have (at least) a
baccalaureate degree, few have an advanced degree
(6%). More than half of the respondents have the
CMA designation. The average and median age for
respondents is 38.
Table A1: Respondent Demographics (Egypt members)
79%
21%
38
38
100%
6%
58%
1%
Gender Male
Female
Age Median
Average
Degrees Baccalaureate
Advanced
DesignationCMA
CPA