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Because the CMA certification is internationally recognized, holding the CMA certification also presents opportunities to work in international markets or other countries. 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. Earning the certified management accountant certification means you are officially a CMA.
Experienced accountants may find the path to CMA much easier, as they have more extensive knowledge and may require less study. Education, experience, location, type of company, bonuses, and advancement opportunities can adjust CMA salary up and down. A CMA certification helps accounting and finance professionals rise higher inside companies and organizations.
The CMA Is the Most Global Management Accounting Certification
The countries within these regions may not see the same changes as the regions as a whole. A good example is China, whose numbers did hold despite a decrease in Asia’s overall compensation. With the recent increase of entry-level women CMAs, we can expect the gender wage gap to slowly decrease as they rise within their respective organizations. Regardless of fluctuations, CMAs make more than non-CMAs at all levels of management. Younger CMAs are responding to the Global Salary Survey in greater numbers. The smartest route to earning your CMA, of course, is to use the best CMA review!
Those in senior management had the smallest difference between the median base salary of CMAs vs. non-CMAs (CMAs earn 13% more compared to non-CMAs). Across all management levels, CMAs earn more than their peers, especially in senior management positions, where they make as much as 58% more in total compensation. A Certified Management Accountant or CMA is an accounting professional that combines strategic planning and management https://personal-accounting.org/what-is-the-accounting-cycle/ with traditional financial accounting. The average salary for a CMA is around $85,000 per year, but there are many factors that can determine CMA salary such as experience, location, specific CMA job description and more. There are other ways to look at your prospective income then just the base salary expected of the certification. More specialized positions can make much more money overall if you know what to look for.
The 5 Direct Benefits of Becoming a CMA
This means staying on top of changing market trends and using financial data to make decisions that would benefit a company’s financial stance. To be able to have this insight and confidence, you need a specific skill set. CMA certification teaches financial planning, performance, and analytics as well as strategic financial management. For example, the highest median total compensation for a CMA is in the agriculture industry, where they earn a whopping $142,003. In comparison, the median total compensation for a CMA in a government position is $108,500. While both salaries are more than acceptable, it’s nice to know your options.
The median base salary for CMAs in the Middle East and Africa was $35,000, and increases to $39,500 when you add in other forms of compensation. This is the region where the CMA certification makes the most difference. It more than doubles the average total compensation of non-CMA accountants. Non-CMAs in the Middle East and Africa had a base salary of $17,700 and total compensation certified management accountant salary averaging out at $18,500. A certified management accountant is a financial professional who has earned the Certified Management Accountant (CMA) certification from the Institute of Management Accountants (IMA). 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.
CMA Salary in China by Management Level
Because it consistently shows why earning your CMA designation is worth your while, regardless of where you live in the world. Though India was calculated separately, I wanted to touch base on some of the key findings for this region. If you were ever wondering if earning your CMA designation was worth it then read on because the next few numbers will blow your mind.
