The median annual total compensation for Certified Management Accountants (CMAs) in the United States increased 6.2 percent in 2015, and the median annual base salary went up, too, according to the latest Global Salary Survey from the Institute of Management Accountants (IMA).
Globally, CMAs across the Americas, Asia, Europe, the Middle East, and Africa earned 61 percent more than their non-CMA peers last year.
“CMAs across all regions feel that their certification enhances their ability to move across areas of the business,” Kip Krumwiede, CMA, CPA, PhD., director of research at the IMA and author of the survey, said in a written statement. “Certified professionals report substantially higher salaries and total compensation than their noncertified counterparts. This salary premium, along with the greater career opportunities available to CMAs, attests to the ongoing value of this program.”
In the United States, the median total compensation – which combines salary with any additional compensation, such as bonuses and profit sharing – for CMAs was $120,000 in 2015, up from $113,000 in 2014 and $105,500 in 2013.
The median base salary for CMAs in the United States was $102,500 last year, up 2.5 percent from $100,000 in 2014. The median base salary for CMAs in 2013 was $96,000.
The Americas region, which includes the United States and Canada, was the only region that reported higher median values in 2015 over the previous year, according to the IMA. The median total compensation increased from $110,000 in 2014 to $113,000 in 2015. The median salary rose by more than $1,800 – $98,217 in 2015 from $96,400 in 2014.
Compared to professionals without certification, accountants in the United States who hold the CMA designation earned 31 percent more in median compensation ($127,200 versus $97,000) last year, according to the IMA.
In the Americas, the average base salary for CMAs was $103,314 in 2015, 15 percent higher than the base salary of $90,000 for non-CMAs. The average total compensation was 22 percent higher for CMAs vs. non-CMAs ($125,000 compared to $102,697).
According to the IMA, two-thirds of CMAs globally indicated they have had a pay increase within the past year, and more than 80 percent received a raise within the past two years. The majority of those who didn’t expect one in the next year.
In the Americas, nearly three-fourths of respondents have received a raise in the past year, and more than 80 percent have had a bump in pay within the past two years. Fifty-three percent of professionals in the United States and Canada are very confident they will receive a raise in the coming year, with 26 percent who said a pay raise is somewhat likely.
The median compensation in almost all responsibility areas was significantly lower in 2015 than in 2014, and salary and compensation amounts varied considerably by responsibility.
In the United States, for example, the median total compensation for those in education was $139,000 in 2015, compared to only $29,405 elsewhere. Corporate accounting, finance, and budgeting and planning was also especially high in the United States.
Based on median base salary, here were the top five highest-paying areas of responsibility globally, including the United States, in 2015: