The Certified Management Accountant (CMA) certification, bestowed by the Institute of Management Accountants (IMA), USA, is a globally acknowledged accreditation in management accountancy and financial management. This certification equips professionals with proficiency in financial planning, analysis, control, decision support, and adherence to professional ethics.
The CMA certification has gained popularity, especially in India, due to its international prestige and the resulting career opportunities, reflected in attractive US CMA salary scales. The curriculum, focusing on management and cost accounting, financial management, and strategic planning, aligns with India’s business needs.
Moreover, the flexibility to complete the course quickly, self-paced learning, and the opportunity to earn international credentials contribute to the increasing popularity of the CMA. Combined with the promising US CMA salary in India, these factors establish the CMA course as a preferred choice for many professionals.
Here’s a detailed insight into the CMA prospects in India. Learn about its global recognition, scope of certification and US CMA salary structure before enrolling.
CMA – Roles and Responsibilities
The CMA plays a crucial role in the financial management of a company. The key responsibilities of a CMA include:
- Conducting financial analysis and preparing insightful reports on the company’s performance.
- Developing and managing the company’s budget and forecasting financial performance.
- Identifying and implementing cost-cutting measures and optimising resource utilisation.
- Evaluating and mitigating financial risks through strategic planning.
- Providing financial analysis and advisory support to aid decision-making.
- Maintaining accurate financial records and preparing GAAP-compliant reports to ensure regulatory compliance.
US CMA Salary in India – Basic Structure
The average salary for a CMA in India is INR 8.1 LPA, equivalent to approximately INR 69,000 monthly. However, a CMA’s salary may vary based on their knowledge, skills, experience, job profile, location, expertise, and industry.
The table below summarises the CMA salary range for freshers and experienced professionals.
| Average CMA Salary | |
| Average Base Salary | INR 8 LPA |
| Accountant (Entry Level) (Lowest Salary for Freshers) | INR 2 LPA |
| Chief Financial Officer (Highest CMA Salary for Experienced) | INR 46 LPA |
US CMA Salary Based on the Job Profiles in India
The income of CMAs varies based on their job profiles. Refer to the table below to review CMA salaries across different job profiles.
| Job Role | Average CMA Salary in India |
|---|---|
| Cost Accountant | INR 5 LPA – 13 LPA |
| Financial Analyst | INR 4 LPA – 19 LPA |
| Certified Public Accountant (CPA) | INR 6 LPA – 24 LPA |
| Internal Auditor | INR 4 LPA – 20 LPA |
| Financial Controller | INR 6 LPA – 31 LPA |
| Senior Analyst, Finance | INR 4 LPA – 8 LPA |
| Senior Finance manager | INR 12 LPA – 20 LPA |
| Chief Financial Officer | INR 14 LPA – 46 LPA |
| Finance Director | INR 13 LPA – 44 LPA |
| Vice President (VP), Finance | INR 20 LPA – 34 LPA |
| Accounting Manager | INR 4 LPA – 10 LPA |
What is the US CMA Salary for Freshers?
For a newly qualified Certified Management Accountant in India, the average CMA salary is INR 5.8 LPA with less than a year of experience. However, candidates with corporate experience (as a trainee) and a strong academic background may earn a little more.
What is the US CMA Salary for Experienced Candidates?
The salary of CMA professionals in India can range between INR 7 LPA to INR 15 LPA, based on experience levels ranging from 1-9 years.
US CMA Salary in the Big 4 Conglomerates in India
The Big 4 companies – Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG – are globally recognised professional services firms with a strong presence in India. These firms provide various services, including audit, taxation, consulting, and advisory, and attract exceptional finance and accounting professionals. The average US CMA salary in the Big 4 can vary based on job role, experience, and location.
| Company | Salary Range |
| Deloitte | INR 6.3 LPA – 7.7 LPA |
| PricewaterhouseCoopers (PwC) | INR 7 LPA – 13 LPA |
| Ernst & Young (EY) | INR 6 LPA – 20 LPA |
| KPMG | INR 4 LPA – 25 LPA |
CMA Packages in the Government (Public) Sector
Cost and management accountants can pursue government jobs that offer competitive salaries. These roles allow them to apply their expertise and contribute to the public sector.
Here’s a comprehensive overview of the CMA salary in some of the public institutions:
| Government Companies | Job Profile | CMA salary |
| NAFED | Manager of Accounts | INR 6.5 LPA |
| Regional Centre for Biotech | Senior Accounts Assistant | INR 8.5 LPA |
| IWAI | CFO | INR 12 LPA |
Conclusion
Globalisation has made courses like US CMA a prerequisite in MNCs, given their recognition in 170+ countries. Consequently, the demand for US CMA professionals has increased in India, a favoured operating country for these companies. Opting for a CMA course in India is an excellent decision for those aiming for success in management accounting.
The WallStreet School offers live/classroom CMA (US) coaching and online CMA (US) classes. Our programs focus on the student’s capabilities with comprehensive assistance to complement learning. Our courses include 100% placement support, in-depth preparation materials, and instruction delivered by seasoned professionals with a track record of success.
To facilitate seamless and convenient learning, we offer access to our robust module of learning management system (LMS) across all the platforms to ensure learning can happen anywhere, anytime. We’ve successfully helped more than 4,500+ students get jobs in accounting and finance. We make sure our students are ready for a great career in CMA.
Sign up for our live/classroom CMA (US) coaching or online CMA (US) classes to give your management accounting career a solid headstart!
Contact us via email or phone (+91-9953729651) for more information about our programs.
FAQs
- What is the highest salary offered to CMA?
The Chief Financial Officer (CFO) is offered the highest salary. A CFO with 20+ years of experience earns an average of INR 46 LPA.
- Which country pays the highest salary to CMA USA?
Based on Northstar Academy reports, the highest-paying countries for CMAs are Switzerland, Canada, and the US. CMAs are globally recognised, allowing candidates to secure high-paid mid- and senior-level positions in these nations.
- Is CMA better than CS?
The CS qualification holds value for those focused on legal compliance, corporate governance, and administrative functions. On the other hand, the CMA is a better fit for individuals passionate about financial analysis, cost management, and strategic decision-making.
