Certified Management Accountant (CMA) Salary in US 2024

A Certified Management Accountant (CMA) is a finance professional who has demonstrated expertise in financial management and strategic decision-making. CMAs typically work in corporate finance, management accounting, financial analysis, budgeting, and strategic planning roles. They may also hold positions in public accounting firms, consulting firms, government agencies, and nonprofit organizations.

Key Takeaways:

• Candidates must meet certain educational requirements, pass a rigorous two-part examination, and fulfill specified experience requirements.
• The CMA exam covers topics such as financial planning, analysis, control, decision support, and professional ethics.
• CMA certification is valuable for individuals seeking to advance their careers in management accounting and financial management, as it demonstrates a high level of expertise and commitment to professional excellence in these areas.

CMA Job Description

Title: Certified Management Accountant

Job Summary: We are seeking a highly skilled and motivated Certified Management Accountant (CMA) to join our finance team. The CMA will play a key role in financial planning and analysis, cost management, and decision support activities. The ideal candidate is a strategic thinker with a strong analytical mindset and a proven track record of delivering actionable insights to drive business performance.

Roles and Responsibilities:

1. Conduct financial analysis, forecasting, and budgeting to support strategic decision-making processes.
2. Develop and implement cost control measures to optimize operational efficiency and maximize profitability.
3. Prepare regular financial reports and management dashboards to communicate key performance indicators (KPIs) and financial metrics to senior management.
4. Perform variance analysis to compare actual financial results against budgeted or forecasted figures.
5. Develop financial models to evaluate business scenarios, investment opportunities, and strategic initiatives.

Qualifications and Skills:

1. Completion of the CMA certification program administered by the Institute of Management Accountants (IMA).
2. Strong foundation in accounting principles, financial analysis, and management practices.
3. Several years of experience in management accounting, financial analysis, or related roles.
4. Ability to analyze complex financial data, identify trends, and draw meaningful insights to support decision-making.
5. Strong verbal and written communication skills to effectively communicate financial information and analysis to stakeholders at all levels of the organization.
6. Ability to identify issues, evaluate alternatives, and propose solutions to financial and business challenges.

CMA Salary on the basis of Experience

Experience	Average Annual Salary
Entry-Level CMA (1-3 years)	$63,835
Mid-Level CMA (3-8 years)	$86,422
Senior Level CMA (8+ years)	$119,899
Top Level CMA	$128,621

CMA Salary on the basis of Age

Age Range	Average Annual Salary
20-29	$80,000
30-39	$111,200
40-49	$129,000
50 and older	$136,000

CMA Salary on the Basis of Industry

Industry	Base Salary	Total Compensation
Agriculture, Forestry, and Fisheries	$122,003	$142,003
Information Technology	$107,000	$127,450
Finance, Insurance, and Real Estate	$110,000	$126,000
Wholesale and Retail Trade	$105,000	$124,000
Contract Construction	$95,400	$123,700
Manufacturing	$107,730	$120,000
Transportation, Communications, and Utility Services	$102,000	$117,896
Medical/Health Services	$105,000	$115,000
Educational Services	$100,000	$113,200
Government	$90,000	$108,500
Public Accounting	$86,000	$97,150

CMA Salary by Job Title

Job Title	Average Annual Salary
Financial Analyst	$55,000 – $85,000
Senior Financial Analyst	$70,000 – $100,000
Cost Accountant	$55,000 – $75,000
Controller	$90,000 – $130,000
Finance Manager	$80,000 – $120,000
Chief Financial Officer (CFO)	$120,000 – $250,000+

Conclusion

The CMA certification offers accounting and finance professionals a significant advantage in the marketplace, providing higher earning potential and better career opportunities. The role of a CMA in a corporate setting is indispensable as businesses increasingly rely on data-driven decision-making and strategic financial management.

Certified Management Accountant Salary – FAQs

What is the average salary for a Certified Management Accountant (CMA)?

The average salary for a CMA in the US varies but generally ranges between $65,000 to $120,000 per year.

How does the salary of a Certified Management Accountant compare to other accounting certifications?

CMAs typically earn competitive salaries compared to other accounting certifications like CPA, often ranging higher due to their focus on management accounting.

What factors influence a Certified Management Accountant’s salary?

Key factors include location, experience level, industry, company size, and additional certifications or skills.

Are there opportunities for salary growth and advancement for Certified Management Accountants?

Yes, CMAs can experience salary growth through gaining more experience, advancing in their careers, acquiring additional skills, and pursuing leadership roles.

What resources can help Certified Management Accountants negotiate their salaries?

Salary surveys, professional networking, career development resources from organizations like IMA, and guidance from mentors or career coaches can aid in negotiating competitive salary packages.