Last Updated on
CMA is recognized to be the Gold Standard in Management Accounting. It happens to be one of the top tier certifications in management accounting which can offer immense career opportunities to you. It is regarded as an advanced professional certification by which you can brush the financial and critical accounting management skills.
Thus, you can earn eligibility for holding job positions in different distinctions. You need to make intensive preparations for clearing the examination. You can earn attractive packages by choosing this CMA certification degree owing to which people love to opt for this certification course, over other accounting certifications. If you are looking for an ideal option for landing on your dream job, you should opt for this certification course on a wide scale. Following blog on preperation tips for CMA students can help.
Average CMA salary in Fortune Companies
Top tier fortune companies such as Alcoa, 3M, Bank of America, AT&T, Cargill, Boeing, ConAgra, Johnson & Johnson, Hewlett Packard, Caterpillar, Microsoft, Xerox, Verizon, Saudi Aramco, Whirlpool, KeyCorp, Procter & Gamble provide different job opportunities to candidates, who passed the CMA examination with flying colors.
Pricing analysts, business analysts, Finance Manager, Senior Executive, Internal Auditor, and Financial Analyst can earn a salary of up to nine lakhs every year. You can find a rise in your salary as you are promoted to senior positions such as Senior Financial Modeling, Senior Financial Budgeting, Accounts Payable, Senior Financial Management, to name a few.
The average salary for the post is within the range of 3.8 lakhs to 17.6 lakhs. In addition to this, you are also eligible to earn a bonus, in the range of seven thousand to 2.5 lakhs. The total average CMA salary for the post is within the range of 4.3 lakhs to 19.2 lakhs.
Average CMA salary for the cost accountants
If you are a cost accountant, you are capable of earning the average salary of around 4.13 lakhs every year. The majority of people are eligible to move to different other job profiles once they earn an experience of more than ten years. Thus, in the SAP FICO or SAP SAP Financial Accounting field, you can earn higher pay.
Average CMA salary for the financial Analysts
If you are a Financial Analyst and have passed the CMA examination, you are eligible to get an average salary of Rs. three lakhs every year. Some of the departments in which you can earn amazing packages include Financial Modeling, Risk Control, SAP SAP Financial Accounting and Controlling, Valuation. You can move to the other senior positions in these sectors, after earning experience of almost ten years. Here, the average salary is within the range of 1.87-8.7 lakhs every year. You can also earn a bonus of around three thousand to 1.2 lakhs. Thus, the total average CMA salary in India for financial Analysts can earn a salary of 1.9lakhs to 9.3 lakhs.
Financial controllers are capable of earning a salary of 18 lakhs every year. For Senior Financial Managers, you can earn a higher salary of 6.2 lakhs to 39 lakhs, along with bonuses.
Average CMA Salary for CFO or Chief Financial Officer
CFO or Chief Financial officers are eligible for earning a package of around 29 lakhs every year. You can earn higher and attractive packages as you earn more experience in the relevant field. CFOs, working in Fundraising, Strategic Planning, Business Strategy, Financial Analysis, and Budget Management, are eligible for earning an average salary, in the range of 9.7 lakhs to 72 lakhs every year.
The average CMA salary, you can earn in India depends on several parameters such as marks obtained, attempts for clearing the examination, the articulation skills, the internship, and the interview. If you do your internship from a reputed and top tier organization, you are going to earn more opportunities in the market.
You can also earn a better and attractive package if you have additional degrees such as CFA, cima. If the majority of the factors work in your favor, you are sure to earn an annual salary of 8-9 lakhs every year. If you are an AIR holder, you can get a package, up to 12-15 lakhs, even when you are a fresher. On the other hand, you will find a rise of almost 30-35%, after gaining a good amount of experience in the relevant field.
You are sure to get high-status jobs after earning more salary in the industry. If you are a qualified CMA, you can get a package of around Rs. 3-4 lakhs every month as well. It, however, depends on the total count of clients; you are handling and how perfectly you have been handling the projects. You will earn more, as you have a higher number of clients.
Average CMA Salary in different sectors
Startups and private companies provide a lower package, in comparison to the consulting companies. In these companies, you need to earn an average salary of almost 5 lakhs in India. Well funded startups can offer a package of Rs. 4-7 lakhs per annum. On the other hand, public sector banks can earn a salary of Rs. 6-12 lakhs every year. In the Foreign Investment banks, and Elite MNC’s, you can earn an attractive and lucrative package of around 6-8 lakhs every year.
CMA professionals, working in Indian Investment Banks, can get a salary of Rs. 7 lakhs per annum. Top Tier consulting firms can provide a salary of up to Rs. fifteen lakhs to AIR CMA holders. They also offer 16 lakhs per annum package as the candidate can clear the CMA examination on their very first attempt.
The trend of CMA salary depends on the industry. For instance, in the banking sector, the average CMA salary is Rs. 5.3 lakhs every year. On the other hand, in the IT industry, the average CMA salary is ten lakhs whereas, in the manufacturing and distribution sector, the average salary is Rs. 7 lakhs. If you can manage a job in the telecommunication industry and can clear the CMA examination at the same time, you will get a salary of up to 13 lakhs. CMA professionals working in Business Process Outsourcing or BPO sector can get a package of up to 5 lakhs.
For any query on the CMA course do not hesitate to contact [email protected]