Holders of the Certified Management Accountant certification enjoy greater earning power, according to a new salary survey by the issuer of the CMA credential.
The Institute of Management Accountants’ 2013-2014 Salary Survey found that despite a fluctuating economy, CMAs around the world earned at least one-third more than their non-certified counterparts.
In the United States, CMA holders reported an average annual salary of $115,952, or 31 percent more (compared to $88,196), than those without certification; and 36 percent more in total annual compensation ($135,153 vs. $99,239).
The IMA’s international findings indicated that 80 percent of CMA holders cited certification as a major factor in their ability to move across all areas of business—opening the door to career development and advancement. As a result, 77 percent of CMAs believe certification creates career opportunities that would otherwise be unavailable.
Survey respondents indicated they believe that CMA certification strengthened their position in salary negotiations, resulting in greater compensation. This is particularly true for those in the Middle East/Africa region (79 percent) and the Americas (78 percent).
“The findings of this year’s International and U.S. Salary Surveys emphasize the value the CMA brings to individuals who seek greater earning power, and to their employers who rely on qualified professionals,” said IMA president and CEO Jeff Thomson.
He pointed to the CMA’s value at the earliest career stages. While CMAs of all ages earn significantly more than non-CMAs, according to the survey, younger professionals around the world in the category of 19 to 29 years old appeated to benefit most from the CMA, earning 96 percent more in average salary than young professionals without a certification.
The global data was collected from IMA members in 66 countries throughout Asia, the Middle East, Europe and the Americas. In the future, IMA plans to release targeted reports for China, Saudi Arabia, the United Arab Emirates and Egypt.