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Money is the biggest driving force for most professionals, so why not you? If your current accounting career is not offering you the financial independence you wish, it’s time to up your ante with a certified management accountant (CMA) certification.
Becoming a CMA exhibits mastery of critical skills and knowledge in accounting and finance. In addition, having a CMA credential makes you eligible for a higher payroll than other aspirants. And with CMA salaries shooting up, there’s no better time to uncover how clearing the CMA exam can take your career up a notch.
Mint More Money as a CMA
It’s no secret that CMAs have more earning potential than their non-certified counterparts, but do you know how much more?
Across the globe, a person with a CMA certification earns 58% more than non-certified professionals. The same survey has revealed that in India, accountants with a CMA credential have an average total compensation of $29,685, 53% higher than non-CMAs.
Clear the Exam, more Opportunities at your Doorstep
CMA is perhaps the most in-demand worldwide management accounting certification and will offer new growth avenues wherever you go. Once you are certified, your credentials will add to your reliability and foster your negotiating position with recruiters.
Here are some facts, as per a survey:
9 of 10 CMAs would recommend CMA certification to their acquaintances.
8 of 10 CMAs reckon that their certification enabled them to switch freely across all business domains – executive leadership, accounting, finance, and operations.
76% claim that their CMA certification opened doors for new career prospects.
At present, various CMAs are minting six-figure salaries in diverse areas, such as education, information systems, and corporate accounting.
CMAs Get More Raises
CMAs enjoy a greater frequency and number of pay increases throughout their career path than non-certified accountants.
The IMA 2020 Global Salary Survey reveals that:
About 60% received a salary raise within last year
8 of 10 received a salary raise within the past 2 years
77% feel they are likely to get a raise this year
Further, when considering benefits, such as a pension, health insurance, and fringe benefits, the earning potential is even more. This is because certified CMAs rise into management quicker after gathering experience and expertise. And even though they switch jobs, they receive a higher raise as the demand for CMAs is notable in the job market.
Final Words
CMAs are becoming prevalent across the board as businesses look to flourish and expand in an increasingly globalized economy. The CMA certification is a fast-track way to improve your overall career progression and earning potential. With it, you’ll soon be en route to earning a six-figure salary.
Miles Education is a premier training institute for finance & accounting professionals looking to earn US CPA credentials. The focus of Miles Education has always been to up-skill students and professionals to help them be future-ready and enable their career progression through the US CPA qualification.
Committed to achieving this goal, today, Miles is India's largest and #1 CMA review! It has been instrumental in building India's CMA ecosystem, holding offices in 20 cities and partnerships with 170+ MNCs, including all of the Big 4s. Miles Education provides student/professional-centric services while keeping concept-based learning at its core which has helped it climb to the top ranks in the US CPA course in India.
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