Certified Management Accountant CMA Salary the United States

But one of the biggest reasons to become a CMA is the increased earning power you’ll enjoy. As of May 2019, the Bureau of Labor Statistics revealed an average, annual salary of $34,800 ($16.73 per hour) for medical assistants. One more interesting fact is that all levels of management work nearly the same average of hours per week. In other regions, this is not the case and instead, you see upper management working several more hours per week. On average, women of all ages in China earn 70% of the salary as their male counterparts.

Salaries for Certified Management Accountants vary by local and global region, but CMAs always earn more than non-CMAs. And as mentioned earlier, CMAs around the globe earn 58% more in total compensation than non-CMAs. For example, privately owned enterprises earn significantly more than their state-owned counterparts. Private enterprises typically earn more than state-owned enterprises regardless of your management level.

Ways to become a Certified Management Accountant

Women’s total compensation in that region is only 78% of that of men. For this reason, the IMA says the increase in female respondents might account for Asia’s significant salary decrease. This table demonstrates that both the global base CMA salary and total compensation decreased slightly from last year. Certified Management Accountants are required to hold a bachelor’s degree from an accredited college or university, or have a professional accounting certification.

• And in fact, this figure is slightly less than last year’s average of 45.5.
• This means staying on top of changing market trends and using financial data to make decisions that would benefit a company’s financial stance.
• But being armed with this information, and the Annual Salary Calculator below, you can make sure you are getting a fair offer regardless of gender, age, or region.
• Perhaps the most glaring figure from these results is that despite having advanced education, the median total compensation in India was only $16,300.
• Now that we’ve addressed the global trends, let’s move on to specific regions.
• How many hours you have to take per year will be determined by the state in which you are licensed.

Internal auditors work inside the finance department of a company and act as a resource for management, offering insights into potential risks and opportunities for improvement. Many cost accountant roles are entry-level, though some general accounting experience is always a positive for more specialized functions. Cost accountants often work in large organizations with complex costing requirements. They track and manage business costs, including expenses, budgets, and supply chains.

Compensation by Management Level in the KSA

Some may pursue an MBA, while others opt for a professional certification like CMA. Salaries for CPAs and CMAs are fairly comparable with the CPA’s being slightly higher; however, salary classifications tend to become more closely matched with the passage of time. As with any career salary comparison, much will depend on your practice location, your job title as well as years of experience.

Median CMA salary by region

In addition to continuing education credits, you must pay the annual IMA membership and certification fee to stay certified. Your name is listed on the IMA website under CMAs in good standing, which is helpful to share with potential employers. Try our professional compensation software to generate detailed salary and cost of living reports.

Similar Job Salaries to Certified Management Accountant by Company

Similar to all the other regions surveyed in previous years, the average base CMA salary decreased slightly. In 2018, we saw a decrease in median base salary across all regions, however, the figures have been trending upwards since. Accountants who have both the CMA https://accounting-services.net/cma/ and CPA designations earn 50% higher median total compensation. CMAs worldwide received about 84% of their total compensation via their base salary. The remainder of their compensation came in the form of bonuses, profit sharing, overtime, and other benefits.

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More clearly put, the mean salary for women of all ages is $51,478 while the mean salary for men of all ages is $67,507. On the other hand, there tends to be a massive gap in compensation between the two oldest age ranges. Your CMA Accounting salary is partly dependent upon the industry in which you work, but keep in mind that the following numbers are not represented equally.

How the CMA serves your career path

You will likely see a boost in your earning potential after a CMA certification because you can now give added value to a company. Beyond earning a raise, you may be eligible for higher-paying positions in upper management. You may also be able to negotiate for higher pay with the CMA credentials.