US CMA salary in India: Results from IMA’s salary survey-2023
Are you a finance professional wondering about the salary range of an US CMA in India? The answer to this question is outlined in this article. The latest Middle East/Africa/ India (MEAI) CMA Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that a median salary of a US CMA professional is above 76% higher than non-CMAs.
The survey invitations were sent to 7,949 IMA members in the Middle East/Africa/India (MEAI) region. It was found that the difference in total compensation between CMAs and non-CMAs worldwide is nearly USD 23,000; a strong reason why a US CMA course is a career changing qualification.
Non- CMA vs.US CMA salary by region
The median base US CMA salary/CMA for 2020 for all participants in MEAI were USD 25,000 as compared to median based salary of USD 22,500 in year 2019. Similarly, median total compensation for year 2020 stands at USD 27,000 as compared to the median total compensation of USD 25,000 during previous year.
Further, a majority of respondents in the middle management category, indicated that they receive a higher percentage of their total compensation largely due to bonuses based on individual or company performance.
The survey results indicated that respondents holding the CMA or US CMA earn a 76% higher median US CMA salary and 80% higher median total compensation compared to those who do not hold the certification. Holding a US CMA certification also makes a person more disciplined, career oriented, smart, and motivated helping to move faster to higher management roles in the industry.
Figure 1 – Median salary and Total compensation by region, US CMA salary VS. NON-CMA
US CMA salary in India
The survey results indicate the median total compensation in India stands at USD 16,300, as compared to salary in MEAI (USD 27,000) and globally (USD 67,500). Further, the respondents holding the CMA in India, has an average total compensation of USD 29,685, which is 53% higher compared to non-CMAs in India. In addition, for those in top management in India, average total compensation was 45% greater compared to those in senior management. For further reading we have additional articles on US CMA salary.
Figure 2 – US CMA salary in India
CMA least affected by COVID-19
The survey results on the impact of COVID-19 showed that CMAs were less impacted in their jobs than compared to non-CMAs. Further, 43% of respondents said that their salary was not impacted by the COVID pandemic, while 3% indicated their compensation increased.
It was noted that 30% of respondents indicated that their salary decreased due to pandemic, while 19% received a lower or no bonus due to the pandemic.
The industries which got affected by pandemic were wholesale and retail trade (68.6%), followed by construction (63.6%), public accounting (57.2%), and education (55.1%). The industries with the lowest percentage of respondents indicating a negative impact include government (11.1%), agriculture (22.6%), and medical/health services (39.4%).
US CMA Certification
Holding the US CMA certification helps to add value beyond the basic compensation. 90% of respondents with US CMA certification said that US CMA gives them more confidence to perform their job at a high level.
Further, 90% agree that the US CMA course helps them to work in all areas of the business, and more than 80% of respondents agree that the US CMA certification creates better career opportunities nearly, 95% would recommend the certification to a friend.
Figure 3 – Median compensation of US CMA by various job roles
Choose the best US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized US CMA course study center.
Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong back to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of our exclusive features include.
A. Authorized partner of IMA US CMA course in India
B. Live online classes ensuring that the regular office working hours is least impacted
C. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. We have a pass rate of 80% in US CMA course exams
D. Affordable US CMA course fees with special discount in your IMA fees.
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Note – For details on US CPA Salary please visit our US CPA blog.