Certified Management Accountants are the strategic thinkers of the accounting industry. They use their specialized understanding of financial accounting and strategic business management to explain the financial implications of different business decisions or investments and also help manage risk.
CMAs’ advanced education helps them contribute to businesses in the following areas:
Certified Management Accountants enjoy increased career mobility and have skills that are relevant to many industries and at different levels of business.
Career paths for CMAs (from entry-level to advanced leadership) include:
Having a CMA certification increases your chances of moving up in a company. When compared to their non-CMA counterparts,
Plus, 79% of CMAs agree that career advancement is a benefit of earning the CMA designation.
Certified Management Accountants are highly coveted for their unique skills. Because of this, they earn more than their non-credentialed peers.
In the Americas, CMAs earn 25% more in total compensation than non-CMAs ($124,000 median total compensation vs. $110,000). And the CMA holds great power to increase earning potential worldwide.
Globally, CMAs earn 58% more in total compensation than non-CMAs.
Source: Institute of Management Accountants (IMA) 2021 Global Salary Survey
CMAs enjoy these higher salaries no matter their level in a company. In fact, CMAs in lower management earn 90% more in median base salary than non-CMAs in a similar position.
In the U.S., professionals who are CMA (Certified Management Accountant) or CPA (Certified Public Accountant) certified earn more than those who hold neither certification. And holding both certifications increases earning potential even more.
When compared to those without the CMA or the CPA certification,
The chart below shows that these earning trends stay fairly consistent across age groups, with those ages 20 – 29 highly incentivized to earn both designations as it stands to increase their median total earnings by 218% compared to those with neither certification.
Source: IMA 2021 Global Salary Survey
To learn more about the differences between the CMA and CPA certifications, visit our CMA vs. CPA resource page.
Salaries for Certified Management Accountants vary by local and global region, but CMAs always earn more than non-CMAs. And as mentioned earlier, CMAs around the globe earn 58% more in total compensation than non-CMAs.
Region | Base Salary ($) | Total Compensation ($) |
Americas | 110,000 | 124,000 |
Asia/Pacific | 25,902 | 31,000 |
Europe | * | * |
Middle East/Africa/India | 31,600 | 36,000 |
All Countries | 70,000 | 79,000 |
*Too few respondents for comparison. |
Source: IMA 2021 Global Salary Survey
U.S. Median Compensation by Region
Region | Total Compensation ($) |
Mid-Atlantic Region | $127,000 |
Midwest Region | $119,800 |
Mountain Region | $115,000 |
Northeast Region | $120,000 |
Plains Region | $109,000 |
South Region | $110,000 |
West Coast Region | $123,500 |
Source: IMA 2021 Global Certified Managerial Accountant Salary Survey
CMA (Certified Management Accountant) salaries continue to rise, and even during the COVID-19 pandemic, most CMAs reported their compensation either increasing or remaining the same.
More and more professionals are getting CMA certified every year, and it’s actually the fastest-growing global certification. The CMA is the “gold standard” of management accounting certifications, and international companies know the value of professionals with highly specified skills in financial accounting, strategic management, risk management, and decision-making.
Your Certified Management Accountant salary will depend on a variety of factors, such as:
Knowing how each of these factors affects your earning potential will help you evaluate whether your CMA salary is competitive or not. So, let’s look at how these factors affect accounting professionals in the U.S.
Source: IMA 2021 Global Salary Survey
As you can see, there is still a pay gap in the U.S. where, on average, women make 84% of what men in similar positions make. But being armed with this information, and the Annual Salary Calculator below, you can make sure you are getting a fair offer regardless of gender, age, or region.
“Average” U.S. Salary Calculator
Use this easy chart to calculate what your salary might be.
Your Calculation | |
Average Base Salary Figure | $63,835 |
Management Level | |
Advanced Degree? Yes – Add $15,490 | |
CMA Designation? Yes – Add $13,151 | |
CPA Designation? Yes – Add $16,990 | |
Estimated Salary Level |
Source: IMA 2021 Global Salary Survey
Becoming a CMA requires obtaining a minimum level of education and work experience and passing the CMA exam. These requirements are known as the 3 E’s (and we’ve added a fourth E).
CMAs must also complete 30 hours of Continuing Professional Education (CPE) each year to maintain certification.
The easiest way to complete the third E (passing the CMA exam), is to enlist the help of a results-driven CMA review course. Wiley CMA courses help you pass the exam the first time around with tools like a personalized exam plan, predictive scoring, and the help of expert instructors.
Here are quick answers to some frequently asked questions about earning the CMA credential.