CMA’s Making More Money in 2018

certified management accountant salary

Certified Management Accountant Salary

According to IMA’s Certified Management Accountant salary survey that was released not too long ago, those with the CMA designation will be enjoying greater earning power this year!

If you were on the fence about taking the CMA exam, unsure if the certification was right for your career path then this may be the push you were looking for.

With the economy in its current state, it’s not exactly common to hear about salary increases, so just how much more can you expect to earn?

CMA vs CPA vs Non-certified Salary

It really paid to hold the CMA certification last year!  When compared to those holding a CMA or CPA certification, only CMAs enjoyed an increase in compensation from 2016 (from $122,000 to $125,000).

Respondents holding a CMA certification report a 47% higher median total compensation than those holding neither certification.  That’s up from 28% in 2016!

CPAs reported a 40% higher median total compensation than non-certified professionals (up from 36% in 2016).

Respondents holding both the CMA and CPA certification reported a 59%  median total compensation than non-certified professionals (up from 46% in 2016).

Whereas accounting professionals holding neither certification reported an 11% decrease in total median compensation from 2016 ~ $85,000 down from $95,590.  Yikes!

It may also be worth noting that “respondents earning a master’s degree reported a 22% higher median base salary and 25% higher median total compensation, compared to respondents with just a bachelor’s degree.”

Makes all the exam prep and stress worth it, now doesn’t it?

To read the full survey findings, click here.

Now tell me, have you been questioning your decision to take the CMA exam? Comment below, ­ I’d love to hear where you’re at!

 

 

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