While a gender pay gap does exist in the United States, it is considerably smaller among respondents who are younger or early on in their careers. I am also happy to report that this pay gap is virtually non-existant in the Midwest and Mountain regions. CMAs with the highest median base salary were found in the information technology industry and made $147,000.
Certified Management Accounting Salary in Europe
Depending on your region, attaining both certifications might even double your salary. Many accounting professionals hold dual CMA and Certified Public Accountant (CPA) credentials. These certifications offer better opportunities and higher earning potential. While the average salary for both CMA and CPA is similar in the U.S., the difference varies in other markets and countries.
- This is about 50% more than the salary of non-CMA accountants in Asia, which was $20,000 base and $23,000 in total.
- 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.
- As CMAs practice in over 100 countries, salaries range widely depending on region and overall cost of living.
Compensation in the USA by Gender and Age
In fact, the benefits of a CMA certification are even more significant for early-career professionals. Regarding age parameters, median salary premiums are highest for Generation Z (41%) and the lowest for Generation X (10%). IMA members in their 20s and 30s see the largest gains from the CMA certification. Here’s how much you’d earn as a Gen Z entering the market as a CMA, compared to Gen X and other generations.
In the U.S., professionals who are CMA (Certified Management Accountant) or CPA (Certified Public Accountant)-certified earn more than those who hold neither designation. The IMA’s 2018 Global Salary Survey shows that, across the board, the gap in compensation is getting bigger every year. The CMA certification is more valuable than ever, and the sooner you decide to get it, the sooner you can begin earning more. These results suggest CMAs are more confident in their skill set and salary of certified management accountant are valued at their organizations. Respondents from Asia and the Pacific agreed most often the CMA certification strengthens their ability to move across all areas of the business (88%). Although the COVID-19 pandemic had a serious impact on the global economy, many IMA respondents indicated their compensation wasn’t negatively impacted.
However, CMA premiums are highest in Europe (45%) and the lowest in the Asia-Pacific region (11%). As CMAs practice in over 100 countries, salaries range widely depending on region and overall cost of living. IMA’s Salary Surveys compare earnings specific to management accountants and those holding CMA® (Certified Management Accountant) certification. IMA’s latest survey findings show that there are clear earnings-specific advantages for CMAs. 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.
Average salaries fell for everyone in the Middle East and Africa during this year. CMA compensation went down 16.6%, and non-CMA compensation decreased 25.6%. While CMA compensation fell, it did so at a slower rate than non-CMA compensation.
With deep knowledge of management accountancy, business acumen, and leadership skills, CMAs often rise faster than non-certified peers to top management roles. This ability to ascend to leadership positions quickly gives CMAs an edge, compensation-wise, over other accountants. 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.
Comments on “CMA Global Salary vs Non-CMA Compensation”
Getting certified used to only make a marginal difference (10% in past surveys) in Europe, but that difference became much more substantial at 50%. IMA’s 2018 and 2019 Global Salary Surveys have shown that, across the board, the gap in compensation is getting bigger every year. The past three Global Salary Surveys have shown that, across the board, the gap in compensation has gotten bigger every year. The numbers reflect large regions, not necessarily individual countries.
A Global Perspective of a CMA’s Salary
In the Americas, the difference between CMA and non-CMA average total compensation increased from 23% to 36%, a jump of 13 percentage points. CMAs made an average of 36% more in total compensation, which may seem small compared to the global average increase of 67%, but that’s because the base salaries in the Americas are already so high. Average CMA and non-CMA salaries in the Americas are the highest of anywhere in the world.
A CMA’s average salary in the U.S. can range from $130,000 to $153,000, depending on experience and location. More and more professionals are getting CMA certified every year, and it’s the fastest-growing global certification. Salaries for Certified Management Accountants vary by local and global region, but CMAs always earn more than non-CMAs. As mentioned earlier, CMAs worldwide earn 21% more in total compensation than non-CMAs.
- More than 73% of CMAs agreed that the certification improved the career opportunities available to them.
- 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.
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. While women may not represent a large percentage, we can see from their salary that female CMAs in the MEA are still under-valued. 83% of survey respondents in KSA mentioned that they loved their jobs, and 81% said they felt valued and supported by their work organizations. The most likely reason for this anomaly is due to the changing demographics of respondents in top management. Plus, it’s still best to take these results with a pinch of salt due to small sample sizes.
The mean base salary for CMAs in China was $31,180, while non-CMAs earned $26,484. The difference was even greater when you look at the total compensation earned by CMAs vs non-CMAs. For example, CMAs mean total compensation was $38,283, while that of non-CMAs was only $33,309. The highest was in the Plains states, where a $130,000 median base salary was recorded. Meanwhile, the South region recorded the lowest median base salary of $115,000, which was not too far off from the Plains states.
Experience and education should have an impact on your salary, and taking on more responsibility ought to come with financial perks. On average, those in middle management earned $53,535 in mean base salary and $52,838 at the median. Meanwhile, respondents in lower management reported less than 50% of their salaries, with a mean base salary of $24,337 and a median of $21,511. In the most recent survey, CMAs located in KSA earned average base salaries that were 68% higher than their non-certified peers and a median total compensation that was 79% higher.
This is about 50% more than the salary of non-CMA accountants in Asia, which was $20,000 base and $23,000 in total. Institute of Management Accountants (IMA) periodically conducts a global salary survey Opens in new window to discover trends in compensation and other useful information for members. This particular breakdown of the certified management accountant salary survey is my favorite. According to the Association of Accountants and Financial Professionals in Business, the highest-paid CMAs in the Americas make around $195,000 annually. The base average certified management accountant salary in the Americas for 2023 was $129,961. Including bonuses and compensations, the average net income for a CMA employee is $153,874.
