The CMA designation has been steadily growing in popularity in the Middle East as more and more candidates from these countries are taking on the exam.
In fact, many of the CMA Coach community members are from the Middle East, which is why I wanted to take the time to share some interesting information on this particular region.
Here are a few of the findings I discovered while scouring some of the IMAs most recent surveys.
Life as a CMA in the Middle East
As part of the 2014 and 2015 IMA survey results, they profiled the average IMA member in the Middle East. The typical member surveyed appeared to be mid-to-late 30year old, married men with children who hold a bachelor’s degree and been working for 10+ years.
When the same survey was conducted in 2010-2011 the average Middle Eastern IMA member only earned $35-40,000 USD. According to the latest results, however, we are seeing an upward salary trend. The average base salary for a Middle Eastern CMA is now $49,767 and the average annual total salary is $60,032.
What’s interesting is that this upward trend is consistent with the growing salary trend we are seeing in North America currently, further proving that becoming a CMA is the way to go nowadays.
CMA Salary by Country
The Middle East is made up of several countries and the median salary for CMA’s in each country varies greatly.
Management accountants in the UAE and Qatar make the highest salaries, versus Jordan and Egypt who make the least.
Below is a full breakdown of the top Middle Eastern countries and their mean annual base salary and total compensation.
Note: Total compensation includes moneys earned from things like profit share and bonuses.
Salaries are represented in USD equivalents as of the time of the survey
Perhaps the most interesting takeaway from this information is that though Egypt holds the most number of IMA members of all the Middle Eastern regions, they make the least amount of money.
What’s not surprising is that the UAE and Qatar have one of the highest mean salaries. These regions are well known for being quite affluent.
Factors Affecting Salary
There are several factors that affect salary. Unsurprisingly, age, gender, the number of years work experience you have and your level of certification.
Here are a few graphs showing the typical salary based on age and gender for a CMA working in the Middle East.
It’s quite evident that men at any age earn significantly more than their female counterparts. Additionally, it’s quite interesting how big of a leap the base salary goes from ages 30+. It nearly doubles. This may have something to do with the employee’s years of experience.
Another factor worth looking at his the average salary of a CMA versus someone who does not hold the CMA designation.
Here is a breakdown of your potential earning by age and qualification level:
As you can see, holding the CMA designation in the Middle East is definitely an asset. For most countries, you will earn a higher salary than your non-CMA counterparts and experience an increase in compensation the longer you work in the industry.
If you are from the Middle East and considering becoming a CMA then now is the time to take the next step.
For more information on how to become a CMA click here. If you have already committed and are looking for a study program that will help you pass the exam on the first try, enroll in my CMA Exam Academy now.
Until next time,