Considering becoming a Certified Management Accountant? It’s important to understand CMA salaries, what affects earning, and the benefits beyond money that also come with being a CMA.
Summary
The salary for a Certified Management Accountant (CMA) is higher on average than for non-certified professionals, with earnings varying based on factors like experience, location, and industry. Beyond financial compensation, the CMA certification offers numerous non-monetary benefits, including professional advancement, high job security, and a wide range of career opportunities.
What is the average CMA salary?
CMA salaries vary based on many factors, including experience, company, and location. On average in the USA, CMAs earn an annual salary of $105,943.1
What determines CMA salary?
As mentioned, however, CMA salaries differ based on important variables like location, company or industry, and level of experience.
CMA salaries by location
According to the Institute of Management Accountants (IMA), the managing body of the CMA certification, credential-holding professionals in the Plains Region report the highest average annual salary, at $130,000. On the other hand, the South Region reports the lowest average annual salary, at $115,000.2
It’s also important to understand that the CMA is a global certification, and if CMA salaries vary within the US, they do so even more on a worldwide scale. For example, the average CMA salary in the IMA-surveyed region of the Middle East/Africa/India is $32,878; in Asia Pacific, it is $36,985; and in Europe, it’s $104,369.2
CMA salaries by industry
Because Certified Management Accountants most often work internally, as staff for a specific organization, they’re needed in nearly every industry. And not all industries pay equally for the same type of position. For example, some of the highest paying industries in the US are healthcare, tech, and finance; working with a company in one of these sectors will likely result in a higher CMA salary than working for a company in an industry like education or non-profit.
CMA salaries by experience
It makes sense, in any profession, that those with more experience would hold more advanced positions and higher earning potential. The same is true for CMA salaries. In the IMA survey mentioned above, the entity found that CMAs with 0-9 years of experience earn on average $99,344 per year, professionals with 10-19 years of experience earn $122,850, those with 20-29 years of experience earn $145,191, and 30-39 years earn $164,473.
CMA salaries vs non-certified professionals
Undeniably, those who earn their CMA credential report higher average salaries than non-certified finance and accounting professionals.
Those without a credential report an average annual salary of $109,011, while reported CMA salaries who are also members of the IMA are, on average, $136,150. However, holding both CMA and CPA credentials further increases reported average salaries; IMA members with both credentials earn an average $151,017 per year.
CMA benefits beyond salary
The CMA salary is a convincing reason to earn the certification. But there are other reasons beyond money that make being a CMA fulfilling and worthwhile career.
Top reasons to become a CMA include:
- Professional advancement
- Influence in organizational leadership
- Community of professionals
- High job security
- Increased knowledge and skills
- International opportunities
- Range of job opportunities in many industries
- Stimulating and engaging responsibilities, with room for specialization
Become a CMA
If you aim to earn a CMA salary and gain all the other benefits that come with the certification, Becker can help you reach your career goals. Start by learning all you need to know about becoming a CMA, passing the CMA Exam, and what comes next, in our FREE guide to the CMA certification.
Stand out in finance and accounting as a Certified Management Accountant!
In this FREE ebook, you'll learn more about the CMA certification, how to earn it, what kind of opportunities can open up, and whether it's right for you!
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