Certified Management Accountant Salary: Guide for 2023

Perhaps one of the biggest things I want you to walk away from here is the overall job satisfaction experienced by CMAs in KSA. The most likely reason for this anomaly is due to the changing demographics of respondents in top management. Once you make the leap from middle management to Senior or Top management you do see an increase though. As we have seen in most regions, the salary earned by a CMA vs Non-CMA is significant and the KSA is no different.

Because it consistently shows why earning your CMA designation is worth your while, regardless of where you live in the world. Though India was calculated separately, I wanted to touch certified management accountant salary base on some of the key findings for this region. If you were ever wondering if earning your CMA designation was worth it then read on because the next few numbers will blow your mind.

CMA Salary Survey Results in India

The median base salary for CMAs in the Middle East and Africa was $35,000, and increases to $39,500 when you add in other forms of compensation. This is the region where the CMA certification makes the most difference. It more than doubles the average total compensation of non-CMA accountants. Non-CMAs in the Middle East and Africa had a base salary of $17,700 and total compensation averaging out at $18,500. A certified management accountant is a financial professional who has earned the Certified Management Accountant (CMA) certification from the Institute of Management Accountants (IMA). That’s because the IMA salary survey finds that at the global level, CMAs earn 62% more in median salary and 67% more in median total compensation than non-CMAs.

  • To become a CPA, you must earn a 4-year bachelor’s degree in accounting and have at least 150 credit hours of additional coursework.
  • Note, you can earn your work experience as a part-time employee, but you must maintain at least 20 hrs of work per week, and it has to be completed within four years.
  • 57% of IMA survey respondents in Europe reported an average 10% annual raise.
  • And in fact, this figure is slightly less than last year’s average of 45.5.
  • Additionally, candidates must have an active membership in the Institute of Management Accountants (IMA).

Experienced accountants may find the path to CMA much easier, as they have more extensive knowledge and may require less study. Education, experience, location, type of company, bonuses, and advancement opportunities can adjust CMA salary up and down. A CMA certification helps accounting and finance professionals rise higher inside companies and organizations.

CMA vs CFA Salaries

The countries within these regions may not see the same changes as the regions as a whole. A good example is China, whose numbers did hold despite a decrease in Asia’s overall compensation. With the recent increase of entry-level women CMAs, we can expect the gender wage gap to slowly decrease as they rise within their respective organizations. Regardless of fluctuations, CMAs make more than non-CMAs at all levels of management. Younger CMAs are responding to the Global Salary Survey in greater numbers. The smartest route to earning your CMA, of course, is to use the best CMA review!

certified management accountant salary

Because the CMA certification is internationally recognized, holding the CMA certification also presents opportunities to work in international markets or other countries. Getting certified can propel your career in finance or accounting into the field of financial management. Expect more opportunities in your career, a potentially higher salary, and the reputation of being a certified financial professional. Earning the certified management accountant certification means you are officially a CMA.

How do Management Accountants Rate Their Jobs?

This means staying on top of changing market trends and using financial data to make decisions that would benefit a company’s financial stance. To be able to have this insight and confidence, you need a specific skill set. CMA certification teaches financial planning, performance, and analytics as well as strategic financial https://personal-accounting.org/accounts-receivable-turnover-ratio-formula-and/ management. For example, the highest median total compensation for a CMA is in the agriculture industry, where they earn a whopping $142,003. In comparison, the median total compensation for a CMA in a government position is $108,500. While both salaries are more than acceptable, it’s nice to know your options.

  • Holding a CMA certification may make you eligible for job titles such as financial analyst, corporate accountant, senior account, or chief financial officer.
  • Most CMA professionals work in an office, sometimes as part of a company’s financial department, as full-time employees.
  • To become a certified management accountant, you must pass the CMA exam.
  • Beyond the job title you earn, holding a CMA certification can also expand your duties and responsibilities in the field of financial management, which can add to your career versatility.
  • In the Americas, the difference between CMA and non-CMA average total compensation increased from 23% to 36%, a jump of 13 percentage points.
  • While this may seem like a rather limited pool to draw from, this represents an increase from those surveyed in previous years.
  • The smartest route to earning your CMA, of course, is to use the best CMA review!