According to the IMA 2018 Global Salary Survey, the global average salary for a CMA was $81,000. If you include bonuses and other compensation, that number rises to $92,000. Younger professionals typically make less due to being in the early stages of their careers. 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. See below for a comparison of CMA vs. Non-CMA mean base salaries across the different regions surveyed. For example, privately owned enterprises earn significantly more than their state-owned counterparts.
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.
CMA Compensation By Region
- The IMA 2020 Global Salary Survey showed that the average CMA base salary in the Americas was $105,000 (compared to $60,000 globally).
- 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.
- 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.
- However, CMAs generally earn more than their non-certified peers at every career stage.
- If you’re wondering how to negotiate a salary raise in your accounting position, the CMA designation is enormous leverage that proves both your abilities and readiness to grow.
For this region as a whole, individuals who had a CMA designation earned, on average, 33% more than those who did not. Impressively, this gap further widens to 143% for CMAs in top management and 99% for CMAs in senior management. This proves that getting your CMA can bring about various incentives in your career and salary progress. In this region, those aged 58 or older (Baby Boomer+) had a mean base salary of $77,858 and a median base salary of $77,543. In stark contrast, those aged 26 or younger (Gen Z) had a mean base salary of $10,829 and a median base salary of $4,833. Globally, accountants who have both the CMA and CPA designations had a median base salary that was around 50% higher than counterparts who had neither.
Global CMA Salary
Median total compensation for CMAs salary of certified management accountant in the Americas is as high as $115,000. The median base salary for CMAs in the Americas in 2020 was $102,500, and the median for non-CMAs was $80,000. This region continues to maintain the highest salaries overall by a large margin, but it did experience a 10% decrease in 2020.
Now, if you live in India and are thinking of earning your CMA, do not let the above stats discourage you. It turns out that CMAs in India earn more than their non-CMA counterparts, especially if they hold an advanced degree. If you’re wondering how to negotiate a salary raise in your accounting position, the CMA designation is enormous leverage that proves both your abilities and readiness to grow. Obviously, earning your CMA has its financial benefits, but respondents had even more good things to say about it. 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 terms of gender disparities, we still see a pay gap, but it’s important to note it has been improving over the years.
Historical CMA Salary
- For example, CMAs mean total compensation was $38,283, while that of non-CMAs was only $33,309.
- The table below highlights the salary in KSA based on management level, age, education, and experience.
- The CMA certification is the leading advanced professional certification designed specifically for accounting and financial management professionals in business.
- The average base CMA salary in the Americas was ~28% greater than that of a non-CMA, and the average CMA salary, globally, was ~117% greater than that of a non-CMA.
- You can also read previous years’ CMA salary statistics and trends to learn how they’ve changed over time.
On average, senior management professionals can earn an average base salary of $169,289 and a median base salary of $88,000. Meanwhile, top management only earned $57,929, on average, and $42,667 in terms of median salary. 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.
2023 marked the 11th annual global survey and notes a lot of changes by authors Benjamin Knoll, Ph.D. and Kristen Senz. Their hope is to empower members and demonstrate the value of education and certification. They also want to emphasize the importance of the satisfaction employees have with their job, workplace, flexibility, etc. Being armed with this information and the Annual Salary Calculator helps you identify whether you are getting a fair offer regardless of gender, age, or region.
About 2020 CMA salary trends
The latest IMA Salary Survey provides insight into workplace changes and how certification translates to value in today’s market. CMAs in lower management earn 19% more in median base salary than non-CMAs in a similar position. They made about 50% more than their non-CMA peers, who had a base salary of $56,500 and total compensation of $57,500. 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.
Career Tools
The median base salary for a CMA in the Americas was $110,000, and median total compensation was $125,000. In 2023, women respondents in Europe reported base salaries that were 88% that of men’s and total compensations that was 89% of what men earned. Due to the small numbers of respondents from UAE in 2023, there is a lack of comprehensive data comparing the salaries based on management level. The large majority fell into the middle management or lower management positions. The median salary in the Middle East was the highest in this region, with a mean base salary of over $44,000 and a median base salary of $30,000.
When comparing median base salaries, these numbers were a little more favorable, with women earning 86% of what men did. Based on the 2023 United States survey, the median base salary for US-based CMAs was around $124,000. Meanwhile, the median total compensation, which included bonus pay, profit-sharing, and other forms of compensation was around $139,000. 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%.
Private enterprises typically earn more than state-owned enterprises, regardless of your management level. It’s 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. However, there isn’t an individual 2023 salary survey report released for China. Nonetheless, we’ll explore the data for China included in the 2023 global survey and dive deeper into the numbers based on the 2020 China survey.
Both globally and regionally, having both a CMA and CPA certification results in a higher median salary. To learn more about combining a CMA and CPA certification, visit our accounting certifications resource page. According to the IMA, the average base salary for a CMA in Europe in 2023 was $104,369. If you add in bonuses, overtime, and additional forms of compensation, Europeans can make a mean total salary of $124,024. Like all other regions, CMAs in the UAE tend to earn more than their non-CMA counterparts.
And while this article will break down a few key regions, let’s take a look at a Certified Management Accountant’s salary from a global perspective first. If you’re just starting out as a CMA, your salary will vary based on location and industry. However, your average salary can range from $80,000 to $95,000 annually. The starting salary doesn’t include a bonus, variables, or other payouts. While CMA gives you a competitive advantage in management accounting, stacking it with a CPA credential is doubly advantageous.
