Management Accountant Salaries Accountant Salary

CMA salaries are representative of the value that CMAs bring and the exciting opportunities they can explore. Read our in-depth CMA salary information or jump to the benefits of becoming a CMA. In 2023, the overall percentage of survey respondents who held a CMA certificate in Europe increased to 70%.

The IMA salary survey says no, CMAs don’t have to work incessantly for their pay. Instead, the average number of hours per week survey respondents worked was 45.1. And in fact, this figure is slightly less than last year’s average of 45.5.

• CMA (Certified Management Accountant) salaries continue to rise, and even during the COVID-19 pandemic, most CMAs reported their compensation either increasing or remaining the same.
• A good example is China, whose numbers did hold despite a decrease in Asia’s overall compensation.
• Approximately 83% of CMAs felt that the certification gave them more confidence to perform their job at a high level.
• If you include bonuses and other compensation, that number rises to $92,000.

CMA vs CFA career paths

For starters, India had the highest percentage of respondents with more than a four-year degree compared to the Middle East and Africa. Now that we’ve explored the salaries of the wider Middle East/Africa/India (MEAI) region, let’s focus a little more on each one. That said, because women respondents made up about 19% of the data sample, it’s best not to draw any firm conclusions based on this singular report. In fact, it is well worth it because job satisfaction is high, not to mention more and more CMAs feel the certification has given them the ability to move between industries with ease. Since 2018, there has been an upward trend in salary figures across different regions in the United States.

Choosing a CMA vs CFA certification will help steer your career path and hone your resume towards specific job opportunities. These are just a few of the titles you could hold after earning each of these certifications. Chartered Financial Analyst® (CFA®) charterholders are experts in researching, reporting, and advising on financial investment strategy and portfolios. When comparing CMA vs CFA, your role as a CFA focuses on strategic investments, often across multiple clients, rather than the overall management of a single organization’s financial wellbeing. CFAs rely heavily on math and analytics, and likely work for a large business, fund, or firm.

This was just a little more than those in the Middle East but significantly greater than the salaries recorded in Africa or India. The table below compares the salaries of respondents in KSA based on management level. The table below highlights the salary in KSA based on management level, age, education, and experience.

Average USA CMA Salary and Total Compensation by State & Region

This region continues to maintain the highest salaries overall by a large margin, but it did experience a 10% decrease in 2020. The biggest takeaway from the 2023 survey is that women tend to experience the largest pay gap when they are older and in higher management positions. In 2023, women aged 58 years or older only earned 75% of what men earned in base salary. 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.

77% noted that it also increased their chances for promotions and career advances, and 87% would recommend their friends or colleagues in a similar line to pursue a CMA. However, the salary of IMA members in the United States has continued to increase ever since. On average, the IMA surveys have recorded a 15% increase in salary per year. They also tend to have more experience in the field and already hold higher management-level positions.

What does a CMA do?

Younger CMAs are responding to the Global Salary Survey in greater numbers. The figure below represents the median 2020 CMA salary for countries with at least 1% of survey responses. Becoming a CMA advances your career by opening up new, upper-level positions.

The good news is that younger accountants are continuing to start their careers salary of certified management accountant on relatively equal footing regardless of gender, while the older age groups still show the highest disparities in pay. This is especially true in the MEAI region, where the total compensation for women was actually 62% higher than men in the age group, while those ages made 59% less than men. Like all other regions, CMAs in the UAE tend to earn more than their non-CMA counterparts.

• Senior executives may also want to consider the possibility of investing in the current business to expand output, or increase productivity by buying new equipment.
• This more than likely contributes to the lower salary figures and is something you may want to keep in mind if you are a female looking to become a CMA in China.
• However, Europe and Asia increased only slightly by 7% and 3%, respectively.
• The requirements to become a CMA are varied across concrete obstacles (certification) as well as personal characteristics (an analytical brain).
• Of the respondents, it was found that more than three quarters of those with a CMA certification strongly felt that this designation had improved their career opportunities as a whole.
• Often a company may groom an accountant to become CMA certified and to prepare them for a future role in executive management.

Certified Management Accountant Salary in the Middle East, India, and Africa Region

As you can see, both CPAs and CMAs are well compensated in today’s market, but a CMA will nearly always make more money due to the added value they bring to the table. According to the CMA Exam Academy, a CMA will make 47% more than an accountant without additional certifications. Education, experience, location, type of company, bonuses, and advancement opportunities can adjust CMA salary up and down. The Americas and Asia have experienced relatively little change in compensation.

This is up by 10% compared to the 2019 report, leading to larger variations in the wage gap reported. 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. In 2019, women of all ages in China earned 70% of the salary of their male counterparts.

CMA Compensation By Region

Private enterprises typically earn more than state-owned enterprises, regardless of your management level. It’s important to note that the latest salary survey found that most women in CMA roles held lower management positions. This more than likely contributes to the lower salary figures and is something you may want to keep in mind if you are a female looking to become a CMA in China. Similar to some other regions surveyed in previous years, the average base CMA salary in China has decreased slightly. And if you live in Africa, you definitely do not want to miss out on the opportunity to secure your CMA. In fact, those with a CMA out-earned their non-CMA peers by 81% in terms of average salary.

A good example is China, whose numbers did hold despite a decrease in Asia’s overall compensation. Globally, the gap between women’s and men’s compensation is virtually nonexistent, which is especially significant since women’s salaries were only 90% of men’s during the previous year. Regardless of fluctuations, CMAs make more than non-CMAs at all levels of management.

Currently, over 140,000+ CMAs are practicing globally in different industries and sectors. CMAs must fulfill educational and experience requirements and pass the CMA exam to become certified. The CMA and Certified Public Accountants (CPA) designations bring a wealth of opportunities. Becoming a CPA is the best option if you’re interested in keeping financial records, taxation, and auditing.