US CMA Salary: A Guide for 2022

Ever wonder what the average salary of a US CMA is?

 

As per the Association of Financial and Accountants Professionals, the average salary of a US CMA in the United States for 2019 was $100,000. Including the compensations and bonuses, the median net income for a US CMA is more than $108,000.

 

If you intend to advance your career in accounting and finance then opting for the US CMA course is the best option. Let's move right into our topic "Salary guide of a US CMA in 2022."

 

Expected Salaries of US Certified Management Accountants (US CMA) in 2022:

 

Management Level	Median Base Salary
All Levels	$105,000
Lower	$73,717
Middle	$100,000
Senior	$134,071
Top	$150,000

 

IMA Global Salary Survey:

 

The IMA Global Salary Survey collected information/data from over 3,000 IMA in 80 countries. In 2021, 39.2% of the responses came from the United States, 29.5% from China, 3.6% from UAE, and the remaining 27.7% from the rest of the world.

 

Median Salary and Compensation by Country:

 

Country	Median Salary (in US Dollars)	Compensation (in US Dollars)
Canada	$69,000	$72,500
United States	$105,000	$118,500
Lebanon	$19,600	$21,150
Egypt	$6,037	$8,500
Jordan	$13,000	$14,200
Saudi Arabia	$36,000	$38,000
India	$15,000	$16,300
United Arab Emirates (UAE)	$36,000	$39,000
China	$22,000	$29,000
Philippines	$11,558	$13,250

 

Positions held by CMAs:

 

In 2021, over 62% of the candidates hold US CMA certification, which is a tremendous increase from last year. 80% of the people who were not certified intend to pursue the US CMA course in the future. According to the survey conducted by IMA, the US CMA course has created a positive impact on many people irrespective of company sizes, management levels, or education levels.

 

As per the responses to the IMA survey, among various levels of management, often the US CMAs earned more than the non-CMAs. Compared to the non-CMAs in the lower management, the Certified Management Accountants earn 90% more salary. In senior-level management, CMAs earn 13% more than their non-certified peers.

 

CMAs in the top management earn 64% more in median base salary when compared to the non-certified candidates at the same level.

 

Besides, people who hold US CMA certification are more likely to hold some specific job titles compared to non-CMAs. The top percentage of Certified Management Accountants are Finance Managers (66%), Chief Financial Offers (72%), and Directors (73%).

 

This reporting shows that at every level the US Certified Management Accountants are valued for their expertise. More than 80% of the respondents agree that attaining US CMA certification provides them with countless career opportunities.

 

How does the US Certified Management Accountant (US CMA) serve the accounting industry?

 

The US CMAs specializes in managerial accounting. Because of their managerial and business knowledge, the Certified Management Accountants are adept at managing projects and supervising teams. Any organization that requires to compare multiple projects, like a large number of manufacturers, will value US CMAs as they are qualified to make good business decisions.

 

The US Certified Management Accountants are uniquely skilled. Beyond the scope of non-certified peers and accountants, the US CMAs bring a level of business expertise and possess financial knowledge that the executives of the non-accounting lack. This makes Certified Management Accountants suited to management positions in any organization/company, from major fortune 500 companies to not-for-profit businesses.

 

As a financial expert, the US Certified Management Accountant is good at understanding various investment opportunities and making the best business decisions while managing risk. This makes them good executive decision-makers and financial advisers.

 

How does the US CMA certification serve your career path?

 

●     Becoming a US CMA advances your career by opening up upper-level, new positions. Besides, they can also make cost-minded decisions in any industry.

 

●     The US CMAs can move easily across various kinds of businesses and industries. This mobility allows you to advance your career and attain more experience.

 

●     The US CMA is a globally recognized certification. Obtaining CMA USA certification will open doors for reputed companies across the world.

 

●     The business knowledge that you get after becoming the US CMA will serve as an asset while negotiating for higher positions in management and climbing to an executive position.

 

●     While the Certified Management Accountants specialize in managerial accounting, they are still comfortable enough with cost accounting to have a company understanding of financial reports and financial statements.

 

●     The Big 4 companies specially request the US CMAs for specific upper-level positions, so the Certified Management Accountant is a path to a top-notch role.

 

●     The US Certified Management Accountants report that their favorite job aspects include their relationship with employees, co-workers benefits, and salary.

 

Covid-19's Impact among CMAs:

 

The pandemic created a serious impact on the global economy, also many respondents indicated their compensation was not impacted negatively. More than 64% of the respondents said there was either no change or an increase in their compensation during the Covid-19 situations. The remaining 36% of the respondents said they received a lower bonus, had their salary decreased, or were placed on unpaid leave.

 

Candidates in Africa, Middle East, and India were impacted the most (more than 54%), while respondents in America and Europe had the least impact (30% and 33% respectively). When compared with non-CMAs, the US CMA certification holders were less likely to experience a salary cut. Comparing the impact of Pandemic on Certified Management Accountants and non-certified peers for the 110 unemployed respondents, the CMAs were less likely to say their job had been impacted by the pandemic than non-certified peers.

 

Conclusion:

The above results suggest Certified Management Accountants are more confident and are valued at their companies. For CMAs in Europe, United States, Africa, Middle East, and India regions, more respondents agreed that the CMA certification gave them the confidence to perform their job at a high level. Hope you get to know the salaries of US CMAs in 2022. Still, if you have any queries, contact Hi-Educare.

 

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