The smallest gap is in the year range, where women earn 77% of the mean salary. Women aged are a close second, earning 72% of the mean salary of their male peers. Perhaps the most glaring figure from these results is that despite having advanced education, the median total compensation in India was only $16,300. Those aged years earn a mean base salary of $78,551 and those aged 50 and over earn $86,198.
Even when the CMA accountant salary decreases, Certified Management Accountants still make significantly more than non-certified accountants. On the other hand, the Americas and Europe saw more favorable salary trends. Furthermore, salaries in America held steady from this year to last, while salaries in Europe increased. 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. 56% of Europeans in this industry agree their compensation is competitive.
- 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.
- Certified management accountant certification has many benefits, including higher earnings and increased job opportunities.
- On average, entry-level managers earn a base salary of $42,060, while middle management earns only $42,064.
- After meeting these requirements, you’re eligible to take the two-part exam.
There is a 140% pay gap between people who have CMAs versus people who have other careers. Unlike CMAs in the Kingdom of Saudi Arabia, CMAs in UAE are not too different from the global median base salary and certified management accountant salary total compensation. The average base salary in 2018 was $30,258 in China, and in 2020 it was $28,978. Individuals who did not have their CMA certification earned an average base salary of $29,202 annually.
Earn a bachelor’s degree or related professional certification.
However, some employers may prefer candidates with a master’s in business administration (MBA). The Certified Management Consultant (CMC) designation can also be beneficial for attracting new clients or landing competitive positions. While a bachelor’s degree is typically required, experience in finance-related work may be considered instead of a degree. A bachelor’s degree is generally required to become an auditor, with some employers preferring a master’s degree. Obtaining a Certified Internal Auditor designation validates the knowledge, skills and experience needed to be an effective auditor.
Auditors review financial records for accuracy and to ensure accounting policies and best practices were followed. This concentration prepares students to become internal or external auditors. A CMA certification helps accounting and finance professionals rise higher inside companies and organizations. Certified Management Accountants are experts at explaining the «why» behind the numbers, not just the «what.» Elevate your credibility and gain a competitive edge in your career. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals. In addition to continuing education credits, you must pay the annual IMA membership and certification fee to stay certified.
CMA Certification Salary vs. CPA Certification Salary
The goal of a CMA is to plan for the future of a business while monitoring and managing the financial health of the business now. CMAs may work with other accountants, managers, or stakeholders in a company to compile financial plans and create financial strategies. Earning the certified management accountant certification means you are officially a CMA. Learn how to prepare for the certification, get started in corporate finance, and more.
Average Certified Management Accountant Salary in China
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. Specifically, total compensation for those in top management positions in the Americas was $160,000, $87,240 in Europe, $76,000 in Asia, and $35,650 in the Middle East/Africa region.
In fact, CMAs in UAE earn 63% and 65% higher median salary and median total compensation than those who are not certified. The mean base salary for CMAs in China is $31,180 while non-CMAs earn $26,484. The difference is even greater when you look at the total compensation earned by CMAs vs Non-CMAs. For example, CMAs mean total compensation is $38,283, while non-CMAs is only $33,309. A certified management accountant can function in many different roles within a company. A CMA can perform the regular duties of a cost accountant, but can also inform strategic decisions about the numbers they’ve crunched.
This is roughly $30,000 higher than the average salary for a Certified Public Accountant (CPA) based on averages from the U.S. CMA salaries are representative of https://personal-accounting.org/ 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.
CMA Salary by Management Level
Becoming a CMA advances your career by opening up new, upper-level positions. After all, making cost-minded decisions is a valuable asset in any industry. They provide the “why” behind the numbers, manage project proposals, and advise on the potential for future profits. You can also read previous years’ CMA salary statistics and trends to learn how they’ve changed over time.
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. 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. Visit our CMA Requirements resource page for more information on all of the CMA requirements and how you can meet them.
They made about 50% more than their non-CMA peers, who had a base salary of $56,500 and total compensation of $57,500. When you compare this year’s CMA salary numbers to the previous year, you can see that base salary increased 3.5% and total compensation increased by 1.6%. In the Americas, the difference between CMA and non-CMA average total compensation increased from 23% to 36%, a jump of 13 percentage points. Only 37% of 2019 respondents held the CMA certification, down 19% from the year prior, and the pool of respondents was much younger on average than in past surveys.
Some professionals choose to gain both the CPA and the CMA, affording them greater career opportunities and a higher salary range. According to IMA, professionals with both the CMA and CPA earn a median of 50% more than non-credentialed professionals in the same industry. 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.