Accounting Salaries
Certified management accountants, unlike certified public accountants, generally sell their services and expertise to industry employers. CMAs are internal employees where CPAs generally work as independent proprietors or in a compliance role reporting and acting in the public's interests. CMAs are found in many industries, however, they are most often found in manufacturing operations or accounting. Management accounting is an inner-focused discipline that encompasses cost accounting and cost allocation.
Early Career
Most CMAs enter the career field as a cost accountant or cost analyst. Since so much of the CMAs' content deals with cost accounting, it is the most logical place to begin that career. An entry level cost accountant will earn $39,000 to $45,000 per year depending on the size of company and industry that they go to work in. Once the candidate has earned his CMA, he will enjoy a 5 to 7 percent raise based on the additional credential. The average salary for a three-year accountant is approximately $75,000, according to the 2010 Robert Half salary guide.
Midcareer
Around the seventh year of employment, most candidates are eligible for a managing role. As a new accounting manager with the CMA certification, an accountant can expect to earn a salary of $75,000 and climbing until it reaches approximately $99,500 in year 15. This can happen much quicker and the salaries can be much higher. However, these are the national salaries provided by Robert Half's 2010 salary guide and confirmed through the Bureau of Labor Statistics. Many candidates do not progress beyond this point and this is considered the average position attained prior to retirement by most CMAs. Those who are promoted beyond this generally end up in an assistant controller or controller role.
Senior Accounting Management
CMAs who reach this level of authority are generally given a controller's title which brings an average salary of $110,000 to $140,000, per Robert Half. However, depending on the size of the company and its industry, many controllers earn in excess of $200,000 per year. Several controllers for very small companies earn far less. Larger companies pay more than medium or small companies, and industries like technology, oil and gas and aerospace pay better than manufacturing or health-care, according to Robert Half.
The Average CMA Salary
According to Indeed.com, which conducts annual salary surveys, the average salary for a Certified Managerial Accountant in 2010 was $95,000. This is the average nationwide and was supported by the Bureau of labor statistics and the Robert Half salary information. According to Indeed.com, "Certified Managerial Accountant salaries for job postings nationwide are 29 percent higher than average salaries for all job postings nationwide."
