Globally, Certified Management Accountants (CMAs) are paid quite handsomely and far better than their non-CMA peers, according to the latest salary data from the Institute of Management Accountants (IMA).
All stats and charts come directly from the IMA’s 2015 Global Salary Survey. All monetary value are in U.S. dollars.
The IMA reports the global median base salary for a CMA was $49,410 in 2015, down from $60,000 in 2014. Median total compensation also fell with CMA earning $56,556 globally in 2015 versus $66,000 the prior year.
This decline is due to lower salaries in the Middle East and North Africa regions, which are struggling with instability. Other regions saw compensation remain largely stable.
CMAs in Switzerland reported earning the most, taking home $167,475 in median total compensation. CMAs in the U.S. earned the next-highest median with $120,000 in total compensation.
For comparison, the median income for a U.S. household (two adults and two children) was $53,657 in 2015.
Here’s the full country and region breakdown:
Is the CMA certification still a solid-gold career credential? Absolutely.
Globally, CMAs earn 61% more than non-CMA holders. In Asia, where salaries are lower compared to other regions, professionals with CMA certification take home 66% more in median total compensation.
According to the report, the gap between average pay for women and for men remains. Globally, women’s median total compensation is 85%, of that paid to their male counterparts.
However, the gap almost closely entirely for professionals in the 20-29 age range (aka “millennials”) as women earn just 6% less than men globally.
“CMAs across all regions feel that their certification enhances their ability to move across areas of the business,” said Kip Krumwiede, CMA, CPA, Ph.D., director of research at IMA and author of the survey. “Certified professionals report substantially higher salaries and total compensation than their non-certified counterparts. This salary premium, along with the greater career opportunities available to CMAs, attests to the ongoing value of this program.”
Currently, there are more than 45,000 CMAs working worldwide.