The Institute of Management Accountants reported increased salaries and job opportunities for Certified Management Accountants as opposed to those without certifications.
The IMA released its annual
The median total compensation for CMAs in the Americas found CMAs earn 20% more in median salary and 24% more in median total compensation than non-CMAs. These respondents reported the highest median salary and total compensation figures, earning $137,137 and $163,932, respectively, compared to other regions. The global median total compensation for CMAs is $86,955, or $14,853 more than the global median total compensation for non-CMAs.
“It is encouraging to see that the value of CMA certification continues to be strong, particularly through economic and technological changes,” said IMA president and CEO Mike DePrisco in a statement. “In addition to their increased salaries, CMAs are also reporting higher percentages of job satisfaction and career opportunities, with 82% saying that the CMA opened the door to jobs they were not qualified before earning the certification and 77% feeling that they are valued by their organizations and believe they are making a positive impact.”
The IMA’s Global Salary Survey surveyed 2,789 professionals, with 2,572 being considered valid responses after validation checks and the elimination of outliers. Responses came from 69 countries, with 39% identifying as female and 61% identifying as male.
Since the pandemic, most IMA members —- including nearly three-quarters of those in the Americas — saw their salaries increasing, even after accounting for inflation and cost-of-living increases. Approximately one-quarter of CMAs said their certification is more valuable now following the pandemic.
Among those CMAs whose salaries have increased, 82% indicated the CMA has improved their career opportunities and 77% reported more opportunities for career advancements and promotions. In addition, 75% said the CMA improved their ability to move across all areas of their business and 62% said that it has increased their salaries. The survey found the CMA certification was especially valuable to early-career professionals whose median salary premiums tied to the CMA were the highest, with Gen Z professionals at 32%, compared to Baby Boomers at 12%.
More IMA members are continuing to work from home since the pandemic. According to the survey, 22% of IMA members said they work from home all or most of the time, compared to 13% before the pandemic. Working from home is most common in the Americas (36% all or most of the time) and least common in the Asia Pacific region (10% all or most of the time).
More than half (55%) of IMA members globally reported salary increases compared to what they earned before the pandemic. In terms of industry, 74% of those employed in nonprofits said their salary has increased compared to before the pandemic, compared to only 49% of those who work in the automotive industry, and 63% in medical health and services fields.
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