IMA Survey: Accountants' Salaries Hold Steady

 

By Terri Eyden
 
The twenty-third  Institute of Management Accountants (IMA) Annual Salary Survey contains a plethora of data and is segmented by categories, such as compensation and degrees, years in the field, organization structure, industry, geography, and management level.
 
According to the survey, the average total compensation rose for IMA members. While the average salary of members dropped 0.2 percent, a 0.9 percent rise in total compensation, driven by salary increases such as bonuses, indicates a positive sign for the accounting profession.
 
Salaries
  • Average reported salary: $109,001 in 2011, down slightly from $109,265 in 2010
  • Average salary increase: $6,135, up from $5,700 in the past three years
 
Average salaries of those with certification
  • CPA certification: $121,296
  • Both CMA and CPA certification: $120,002
  • CMA certification: $109,880
 
Average salaries by years in the field ‒ women vs. men
  • One to five years: $68,735 for women; $83,893 for men 
  • Six to ten years: $76,639 for women; $95,094 for men
  • Eleven to fifteen years: $82,445 for women; $117,341 for men
  • Sixteen to twenty years: $95,669 for women; $117,736 for men
  • More than twenty years: $103,470 for women; $127,576 for men 
 
Additional compensation
  • Both men and women reported an increase in additional compensation; women went from $14,485 to $16,040, and men went from $34,416 to $36,885
  • Median amount of additional compensation for 2011 was $12,500
  • Mean amount for 2011 was $29,977
  • 71 percent of respondents receive additional compensation, up 3 percent from 2010
  • 77 percent of respondents receive either a bonus or profit sharing, up from 75 percent in 2010
  • 98 percent of respondents receive some form of health care coverage 
 
Average total compensation of those with certification
  • Both CMA and CPA certification: $149,484
  • CPA certification: 145,712
  • CMA certification: $131,093
 
Average total compensation by years in the field ‒ women vs. men
  • One to five years: $77, 448 for women; $93,730 for men 
  • Six to ten years: $82,049 for women; $108,217 for men
  • Eleven to fifteen years: $90,541 for women; $148,374 for men
  • Sixteen to twenty years: $106,766 for women; $142,422 for men
  • More than twenty years: $116,414 for women; $156,966 for men 
 
Average salaries by region
  • Northeast: $125,488
  • Mid-Atlantic: $118,468
  • South: $105,001 
  • Midwest: $103,176 
  • Plains: $104,887 
  • Mountain: $105,302
  • West Coast: $114,001
 
The IMA commented on the overall results of the survey by saying, "Some bright areas include an increase in the number of members who individually reported getting a raise; an increase in the number of younger members who are certified; and the ongoing consistency that salaries increase with experience, certification, and graduate degrees. Despite turmoil in the US economy and around the world, the basic recipe seems to remain the same for accountants to position themselves for future salary gains."  
 
The survey, which is published in June's edition of Strategic Finance magazine, was mailed to a random sample of 5,122 IMA members in the United States in early December 2011. You can access the survey and learn more about IMA on its website
 
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