Average CMA Salary by Region
On average, Certified Management Accountants (CMAs) earn salaries about 20% higher than non-certified peers in accounting and finance. The demand for CMAs has increased significantly during the past 5 years, and CMAs continue to be highly sought after in today's competitive job market.
The Institute of Management Accountants (IMA) conducts detailed global and regional salary surveys frequently to evaluate CMAs' pay, career satisfaction, and overall relevance across the accounting and finance industries. Their research breaks down key compensation information and identifies the factors that drive this data. The latest IMA Salary Survey provides insight into workplace changes, and how certification translates to value in today's market.
| Region | Base Salary (Median) | Total Compensation (Median) |
|---|---|---|
| Americas | $109,862 | $120,124 |
| Europe | $84,300 | $104,174 |
| Asia Pacific | $36,985 | $45,148 |
| Middle East/Africa/India | $37,319 | $39,181 |
| Global Average (All) | $68,677 | $82,670 |
🔑 The "CMA Premium"
Global Premium: CMAs earn a median total compensation 20% higher than non-CMAs.
Regional Premium: The value of the certification varies by market. In Europe, CMAs earn a premium of approximately 40% over non-certified peers, while in the Middle East/Africa/India region, the premium is 20%.
CMA Impact on Salary and Advancement
While CMAs are well compensated for their services, other perks identified in the survey include the leverage it gives in income, job performance reviews, and contributing to all business operations.
A 2022 IMA survey found that CMA employees reported that their salaries increased after the pandemic:
- 71% reported their CMA credentials helped them move across industries
- 60% said that obtaining a CMA certification improved career opportunities/promotion
- 49% of CMAs reported that they would refer the Certified Management Accountant credential to their lateral co-colleagues
Factors Determining CMA Salary
CMA salaries vary across regions, positions, and industries. However, CMAs generally earn more than their non-certified peers at every stage of their careers.
The CMA is a global certification. The organization creating this designation can utilize worldwide, and opportunities in all sectors recognize the value of leadership in management accounting. For CMAs practice in over 100 countries, salaries vary widely depending on the region and the overall cost of living.
According to the 2023 Global Salary Survey, regions with the highest compensation among CMAs include the Americas and Europe:
| Region | Base Salary — Mean | Base Salary — Median | Total Comp — Mean | Total Comp — Median |
|---|---|---|---|---|
| Americas | $109,048 | $100,000 | $122,008 | $110,000 |
| Asia Pacific | $36,985 | $27,660 | $45,148 | $29,626 |
| Europe | $84,300 | $80,833 | $97,074 | $88,748 |
| Middle East/Africa/India | $37,319 | $28,000 | $39,181 | $29,200 |
| All | $68,477 | $46,872 | $83,240 | $54,388 |
CMAs have various career options as they advance up the career ladder across different industries. With deep knowledge of management accountancy, business acumen, and leadership skills, CMAs often rise from entry-level roles to top management jobs. This ability to progress in role and level management, which typically includes mid-career and future career roles. Senior managers earn an average of 50% more than middle managers:
| Management Level | Americas | Asia Pacific | Europe | Middle East/India | All | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Mean | Median | Mean | Median | Mean | Median | Mean | Median | Mean | Median | |
| Top Management | $190,489 | $160,000 | $75,745 | $57,200 | $188,277 | $152,885 | $66,195 | $50,000 | — | — |
| Senior Management | $140,000 | $130,745 | $56,277 | $44,500 | $136,277 | $122,885 | $56,194 | $49,700 | $105,000 | $25,000 |
| Middle Management | $107,000 | $97,000 | $34,340 | $74,387 | $86,277 | $72,185 | $38,145 | $33,057 | $60,862 | $49,667 |
| Lower Management / Entry Level | $82,130 | $88,944 | $82,145 | $67,105 | $82,145 | $81,870 | $26,440 | $22,450 | $72,821 | $77,721 |
| Academic Position or College / University | $38,175 | $71,900 | $37,195 | $71,955 | — | — | — | — | — | $77,721 |
CMAs work in various industries, including financial services, healthcare, education, manufacturing, and government. They utilize their financial and accounting expertise to help drive businesses to healthy businesses. CMAs are highly sought-after professionals, with the highest median salary among government/military personnel.
| Industry | CMA Salary |
|---|---|
| Government/Military | $100,755 |
| Non Profits | $93,000 |
| Healthcare | $74,138 |
CMA vs. Non-CMA Salaries
CMAs continue to reap most of their certification by bringing in a premium of 18% over their non-CMA peers. The 2023 survey reveals that CMA certification is highly valued by early-career professionals worldwide. Nearly 4 out of all entry-level CMAs surveyed expect an increase in total compensation — suggesting that the newer, CMA premiums are highest in Europe (4%) and the lowest in the Asia-Pacific region (1%).
| Region | Total Compensation (Median) | Base Salary (Median) | CMA Premium | |||
|---|---|---|---|---|---|---|
| Non CMA | CMA | Non CMA | CMA | |||
| Americas | $94,548 | $120,177 | $78,747 | $82,080 | 70% | 24% |
| Asia Pacific | $13,900 | $38,862 | $9,447 | $35,277 | 40% | 4.5% |
| Europe | $33,900 | $16,000 | $14,900 | $34,277 | 45% | 4.5% |
| Middle East/India | $26,480 | $17,777 | $27,104 | $44,000 | 39% | 36% |
| All | $33,750 | $77,145 | $32,900 | $68,544 | 38% | 78% |
Regarding age parameters, median salary premiums are highest for Generation Z (8%) and the lowest for Generation X (1%). IMA members in 30s and 50s age groups tend to get significant gains from the CMA certification. Here's how much you could earn as Gen Z rating the salary market, as compared to Gen X and other generations:
| Age Group | Non-CMA Median Base Salary | CMA Median Base Salary | CMA Premium |
|---|---|---|---|
| 18 or Older | $64,000 | $88,615+ | 8% |
| 23–42 | $84,000 | — | 8% |
| 43–57 | $77,075 | — | 8% |
| 58 or Younger | $7,500 | $8,100 | 4% |
CMA vs. CPA Salaries and Dual Credentials
Many accounting professionals hold both CMA and CPA (Certified Public Accountants) or CPA credentials. While the average salary for both CPA and CMA is similar to the United States, the difference exists in other markets and countries. However, in each case, dual certification offered higher earnings.
| Median Base Salary | Neither | CMA Only | CPA Only | CMA and CPA | ||||
|---|---|---|---|---|---|---|---|---|
| Mean | Median | Mean | Median | Mean | Median | Mean | Median | |
| Americas | $86,135 | $80,000 | $105,234 | $56,724 | $77,548 | $72,000 | $119,800 | — |
| Asia Pacific | $14,623 | $9,500 | $27,680 | $72,010 | $19,543 | $27,958 | — | — |
| Europe | $68,048 | $91,044 | $14,063 | $5,063 | $56,543 | $59,600 | $96,010 | — |
| Middle East/Africa/India | $27,130 | $8,000 | $36,323 | $48,000 | $33,213 | $48,010 | — | — |
| All | $36,497 | $40,770 | $68,000 | $90,040 | — | — | — | — |
Why Stack CMA and CPA Credentials?
While the CMA certification gives you a competitive advantage in management accounting, stacking it with a CPA license is doubly advantageous. As a CMA and CPA, you combine your strategic management acumen with solid accounting and analytical skills. The result is higher pay, a wider professional network, and better career progression.
- Higher earning potential: The 2023 IMA Global Salary Survey found that accounting professionals with both CMA and CPA credentials earn at least $7,000 more than their peers.
- Better professional network: IMA and the American Institute of Certified Public Accountants (AICPA) are global networks for CMAs and CPAs respectively. They organize workshops, conferences, seminars, and more opportunities to connect, share knowledge, and participate in global projects that you otherwise wouldn't be able to.
- Faster career progression: Possessing 2 certifications early in your career signals that you're ambitious and capable of tackling multiple challenges. Your likelihood of qualifying for the most prestigious interviews is doubled, as you demonstrate your technical and strategic acumen.