Management accounting jobs can provide you with a long and fruitful career, full of growth opportunities and the chance to work in industries and roles that are interesting and satisfying. Learn more about management accounting career paths, certifications, and how to secure your position.
Summary
Management accounting is a professional specialization centered on providing internal financial reporting and strategic guidance to organizations, offering diverse career paths from entry-level staff positions to executive leadership for those who combine a bachelor's degree with prestigious certifications like the CMA to enhance their expertise and earning potential.
What Are Management Accounting Jobs?
Management accounting is a specialization within the accounting profession that focuses on providing financial information, reporting, and guidance to an organization’s internal management.
While public accountants typically work at public accounting firms providing services for many corporate clients, management accountants work on an organization’s internal financial team to help manage, assess, and report on the company’s financial spending, planning, and growth. They also help trouble-shoot and solve for financial bottlenecks and organizational inefficiencies, and report to C-suite executives to help inform the organization’s decision-making.
Management accounting jobs include titles like:
- Cost accountant
- Budget Analyst
- Financial Advisor
- Accounting Manager
- Controller
- Financial President
- Chief Financial Officer (CFO)
What Career Paths Are Available for Management Accountants?
From working with a company in a specific industry to honing your skills in a certain specialization or role, you can build the career that fulfills your goals. The following are some options for those building a career in management accounting.
1. A Traditional Management Accounting Path
Many aspiring management accountants begin with an entry-level accounting job like “staff accountant” or “junior accountant,” with responsibilities that include basic accounting tasks like:
- Processing payroll
- Bookkeeping
- Gathering data and creating reports for your manager
- Reviewing compliance
However, as you grow in your experience and gain credentials like a Certified Management Accountant (CMA) certification, you can take on more responsibility, independence in your work, and leadership-level roles.
With diligence and commitment to your professional development, many management accounting jobs set you on path to work into executive financial positions like CFO or Financial Controller.
2. Strategy & Consulting
All organizations need guidance in their financial decision-making, and there is space within management accounting to specialize your career as a financial advisor.
As a financial consultant, you may work within a single company or as an entrepreneur to help multiple businesses organize their finances and plan toward reaching their financial goals. This may include everything from creating budgets to improving spending efficiency to informing decision-making.
Working toward this management accounting job requires starting small and working your way into advanced roles. Extensive experience and esteemed credentials like a CMA certification or an MBA degree are essential to boost your expertise and give your organization the reassurance to trust your financial guidance.
3. Specialized Management Accounting Jobs
Within management accounting exist specializations, and you can focus your skill building and career growth in one of these areas. Examples of specialized management accounting jobs include:
- Cost Accountant
- Budget Analyst
- Treasurer
Honing your specialization gives you the chance to work in an area of specific interest to you, as well as step into high-level positions that require very specific skillsets.
Growing a specialization, however, requires experience and often certification in these areas. You can also specialize your skills by taking continuing professional education (CPE) courses that focus on a specific topic.
What Do I Need to Get a Management Accounting Job?
The career outlook for management accountants is very positive. However, getting a management accounting job requires you to build a resume of specific skills, education, and certifications.
Management Accounting Skills
Even entry-level management accounting jobs require basic accounting technical skills that you will need to perform daily tasks. These include knowledge in:
- Bookkeeping
- Financial reporting
- Cost analysis
- Creating budgets
- Data organization and analysis
- Proficiency in accounting software
Likewise, you should have strong soft skills that help you continue to learn on-the-job and perform your tasks at the quality level required for accounting professionals:
- Attention to detail
- Critical thinking
- Communication
- Adaptability
Management Accounting Education
You will likely need at least a bachelor’s degree in finance or accounting before securing your first management accounting job. However, while you’re still in school, you may have the opportunity to join a company through an internship program or similar. Take advantage of these opportunities to build your experience, skills, and resume.
You may also earn an MBA or master’s in accounting if it makes sense for your career goals.
Management Accounting Certifications
You can open new career opportunities, boost your resume, and learn important accounting skills by earning certifications. These are some of the best certifications for management accounting jobs.
- CMA: The Institute of Management Accountants’ (IMA) Certified Management Accountant (CMA) certification is the gold standard of management accounting credentials. It is recognized internationally for excellence in management accounting, demonstrating that those who become CMAs possess the skills, expertise, and dedication to excel in high-level management accounting jobs.
- CIA: The Certified Internal Auditor (CIA) credential is to internal auditing what the CMA is to management accounting: gold standard, internationally respected, and an invaluable advantage in advancement and long-term growth. If you want to specialize in the auditing side of management accounting jobs, becoming a CIA is a fast-track to enhancing your career prospects.
- CPA: While becoming a Certified Public Accountant (CPA) opens the door to a world of public accounting career opportunities, it can also increase your management accounting job potential. Earning your CPA license requires much of the same concept knowledge and skillsets needed in management accounting—and potential employers know this. Whether in public or private accounting, being a CPA is recognized and respected. That said, earning your CPA license does require more investment than most other credentials, so it’s important to understand if becoming a CPA or CMA (or both) is best for your long-term career goals.
Management Accounting Job Salaries
The annual salary range for management accounting jobs ranges based on factors like your level of experience, certifications, industry, and location. That said, the average management accountant salary for non-certified professionals is $76,590.1 However, the average CMA salary is $103,943, showing the advantage that being certified beings to your earning potential.
The CMA’s governing body, the Institute of Management Accountants (IMA) conducted a survey2 that also proves the importance of experience level in management accounting job salaries:
Years of Experience | Annual Average Salary |
| 0-9 | $99,344 |
| 10-19 | $122,850 |
| 20-29 | $145,191 |
| 30-39 | $164,473 |
How to Get a Management Accounting Job?
Earning your first position within management accounting comes through the culmination of planning, education, certifications, and more. These 6 tips can help steer you toward getting your dream management accounting job.
- Align your skills, interests, and career goals with your job search.
- If you haven’t already, complete your education.
- Focus on building your accounting, technology, and soft skills.
- Strongly consider becoming a CMA, and/or earning additional credentials.
- Optimize your resume for the industry and your target roles.
- Intentionally use your professional network.
Increasing Your Management Accounting Job Outlook
Stepping toward your dream management accounting job may likely begin by becoming a CMA. Learn more about what it takes to earn your CMA certification, how to prepare for and pass the CMA Exam, and the countless benefits of being a CMA, in this free CMA Exam Guide!
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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