Montvale, N.J. (July 22, 2004) -- Salaries are up across the board, but women still lag men in total compensation in the managerial accounting and finance field, according to a study by the Institute of Management Accountants.
The gender gap in compensation among managerial accounting and finance professionals appears to be shrinking, but it's still significant, the IMA said.
While men and women both saw significant increases, and total compensation for women rose 7.2 percent, compared to 6.2 percent for men, average salaries for men still outpace those of women, the IMA reported in its 15th annual salary survey. Men's salaries averaged $94,314, compared with $72,773 for women. Total compensation for women averaged $81,121 -- $27,000 less than the average amount for men at $108,841.
While the proportion of women and men in senior management is almost the same (18 percent for women vs. 19 percent for men), there are more women in mid-level (42 percent vs. 37 percent) and entry-level (22 percent vs. 13 percent) positions, and fewer in top-level positions (12 percent vs. 26 percent), the IMA said.
According to the survey of more than 1,600 managerial accounting and finance professionals, average salaries increased by 4.7 percent to $87,108, and average total compensation increased 5.8 percent to $99,620. The survey also revealed that those who hold a professional accounting certification generally earn more (19 percent) than those who don't.
The survey is available at www.imanet.org.
-- WebCPA staff
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