Certified Management Accountant Salary

The Americas remained mostly unchanged with a total salary gap of 86%. The Middle East/Africa/India region (MEAI) had the highest increase at 22%. However, Europe and Asia increased only slightly by 7% and 3%, respectively.

• For starters, it allows you to stand out amongst your CPA peers thanks to your specialized knowledge of management accounting.
• In addition, those holding the CMA are more likely to hold specific job titles compared to non-CMAs.
• There has been a ton of growth in the Middle East over the past few years.
• This region continues to maintain the highest salaries overall by a large margin, but it did experience a 10% decrease in 2020.

That’s what really differentiates the CMA from the CPA, providing a wider path to a fulfilling career. Working at a high level for financial planning and business management, there are plenty of open doors for CMA careers. Plus, their maximum earning potential maxes out at around $83k after 10 years of work experience. Now that you know the best positions for a CMA certification salary, you should also consider the highest paying locations in the country.

More Opportunity After Passing the Exam

Furthermore, the IMA suspects that an increase in the number of respondents between the ages of years old could account for some of this decrease. If the CMA seems even more intriguing to you now, you’ll be happy to see exactly how much you can make as a CMA and if the premium applies in your home country. So, learn more about the CMA salary in this summary of the IMA salary survey. If you’re interested in earning the Certified Management Accountant (CMA) certification, there truly are a whole host of reasons to do so.

• Experience and education should have an impact on your salary, and taking on more responsibility ought to come with financial perks.
• The median base salary for a CMA in the Americas was $110,000, and median total compensation was $125,000.
• Vice President of Finance is one of the most coveted positions for accountants.
• The IMA 2019 Global Salary Survey showed that the average Certified Management Accountant (CMA) base salary in the Americas was $102,500 (compared to $65,000 globally).
• Bryce is the mastermind behind over twenty different websites devoted to providing people like you with the resources necessary to successfully pass certification examinations.

I am happy to report that the gender pay gap globally is virtually non-existent. Unfortunately, there is still a notable salary gap between women and men in the United States. 66% of these usable respondents hold the CMA certification and it was found that they earn 30% more than those without the certification.

The average job satisfaction rate of 4.15 out of 5 for controllers, due to great pay, job security, and professional growth opportunities, says a lot. Many accounting students and professionals want to advance their careers and increase their salaries, but they don’t know which certification to choose from CMA vs CPA. Both of these designations will help you earn more money and get promoted, but they have different career paths. You must pass the exam given by the Institute of Management Accountants (IMA) to become a Certified Management Accountant. You will study metrics, create project proposals, and give advice to people and businesses as a Certified Management Accountant to maximize the possible profit advantage. Candidates who successfully complete the CMA exam can get jobs in the US financial industry.

Therefore, in much of the world, the CMA salary remains a respectable source of compensation. Additionally, salary decreases seem to have affected Asia and the Middle East/Africa most severely. While the Middle East/Africa faced a salary decline for the second year in a row, Asia experienced the largest decrease of 27%.

Certified Management Accountant (CMA)

Of the respondents, it was found that those holding their CMA certification strongly felt that this designation had a positive impact on their salary. Unfortunately, in the UAE specifically, women only earn 76% of the compensation that their male counterparts do, and this gap is represented across all age ranges. Perhaps one of the biggest things I want you to walk away from here is the overall job satisfaction experienced by CMAs in KSA.

Compensation by Management Level in the UAE

Over $14 million worth of scholarships have been given to IMA members. Take the next steps towards a career in financial management and begin the steps necessary to enroll in the CMA program. If you’re looking for a fully online course as part of your CE credits, consider Financial Markets or the Business and Financial Modeling Specialization, both of which are on Coursera. You can work at your own pace when enrolled in these courses, and they cover applicable and helpful topics for CMAs. Part one will cover financial planning, performance, and analytics, while part two will cover strategic financial management.

Accounting Exam Prep

As you can see, this is a certification that can give you a lot of room for growth. CMA compensation can be low to start, but what you make in the end is much higher. I highly recommend becoming a Certified Management Accountant if you plan to stay on this career path for at least 5-6 years. Ultimately, bear in mind that the best possible salaries will likely only be available to those with 10+ years of experience. And in the 2018 IMA salary survey, 69% of all respondents testified to receiving a pay raise within the last year.

This article will help you understand the scopes and benefits along with the average salary of CMA, and the process through which you can accomplish them. 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. Because the CMA certification is internationally recognized, holding the CMA certification also presents opportunities to work in international markets or other countries. Before you can finally get your certification, you’ll have to fulfill CMA experience requirements. The IMA requires CMA candidates to finish two full years of qualifying work experience.

Often CMAs’ work involves cost accounting, financial planning and management. CMA (Certified Management Accountant) salaries continue to rise, and even during the COVID-19 pandemic, most CMAs reported https://accounting-services.net/cma/ their compensation either increasing or remaining the same. More and more professionals are getting CMA certified every year, and it’s actually the fastest-growing global certification.

Criteria for financial aid

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. Senior and top management CMA employees can earn upwards of $50,000 depending on their position. Whether you work in private or state-owned enterprises will affect these numbers. It is encouraging to see that this gap is trending in the right direction overall, especially when you consider that the 2016 results showed women only earned 69% on average.

How the CMA serves the accounting industry

That means the CMA generates an almost 50% income increase for accountants. And at the global level, CMAs receive a median total compensation that is 67% higher than that of non-CMAs. In fact, CMAs in lower management earn 90% more in median base salary than non-CMAs in a similar position. Like all other regions, CMAs in the UAE earn more than their non-CMA counterparts. In fact, CMAs in UAE earn 63% and 65% higher median salary and median total compensation than those who are not certified.