Management Accountant Salary in US are individuals that specialize in managerial accounting. They analyze the numbers, develop project proposals, and advise individuals and corporations for increasing the potential profit benefit. A Certified Management Accountant combines management and strategic planning with traditional financial accounting.
With the development of the field of accountancy, there is a growing need for Certified Management Accountants all over the world, especially in the US. Some of the top companies that hire MA in the USA include Amazon, Larsen & Toubro, Accenture, Wipro, etc. A management accountant can work in different roles within a company.
What Does a MA Do?
A certified Management Accountant Salary in US can function in many different roles within a company. A CMA can perform the regular duties of a cost accountant, but can also inform strategic decisions about the numbers they’ve crunched. A CMA can be found in public or private companies, doing corporate, consulting, or other forms of management accounting.
How much does a Management Accountant make?
A Management Accountant or MA is an accounting professional that combines strategic planning and management with traditional financial accounting. The average salary for a CMA is around $85,000 per year.
Job Responsibilities Of Management Accountant:
MA plays an important role in budget management. They manage and control the costs and budget of the business. They predict the expenses in advance to reduce the chance of corporations going over the budget.
- They analyze the financial performance market, measures target, and review the performance of the assets of the company.
- They perform the profit analysis and financial analysis and divide the profit into assets, revenue, equity, and expenses.
- They take important financial decisions in terms of investment opportunities to make sure the profits are returned for a long time in Management Accountant Salary in US.
- They do financial reporting to the stakeholders and prepare financial statements, balance sheets, income statements, statements of cash flows, and annual reports.
Management Accountant Requirements:
Gaining the designation of MA is a significant challenge because there is so much to learn in the realms of both accounting and management. The requirements to become a MA are varied across concrete obstacles (certification) as well as personal characteristics (an analytical brain).
- Bachelor’s Degree
- 2 year’s work experience
- 6-24 months to study for the CMA exam
- Interest in finance
- Strong communication skills
- Ability to work in diverse teams
- Analytical skills
- Understanding of business strategy
- Honesty & Integrity
How to Become a Management Accountant?
If you are interested in becoming a MA, or you’re an executive looking to develop one of your employees into a MA role, it’s a relatively straightforward process. That’s not to say it’s easy to become a MA, but the path can be very clear.
- Earn a Bachelor’s Degree: Unlike a CPA or MBA, the type of bachelor’s Degree doesn’t matter for a CMA certification. No matter what type of degree you’ve earned you can move forward to become a MA.
- Two Years of Work Experience: The CMA exam can be taken anytime, but the certification will not be awarded until candidates have completed at least two years of work experience.
- Study: The CMA exam is long and detailed, Management Accountant Salary in US and requires a lot of preparation. Some candidates study while working a full-time job, and therefore can only dedicate a few hours each week. It may take up to two years to complete their preparation. Working part-time or as a full-time student, you could prepare for the MA exam in about six months. There are a variety of courses, study manuals, and prep classes to meet your needs.
- Pay Fees: There are three fees required for MA certification – IMA membership, CMA entrance fees, and the MA exam fee. As a student, you will pay about $600, while a professional member will pay over $900.
- Pass CMA Exam: The exam is administered in two parts, three times per year. Both parts must be passed for certification.
Some individuals find that preparing for the MA exam while completing their college degree is the most effective route, planning to work for two years and gain official designation once the experience component is complete. Management Accountant Salary in US Others wants to graduate, get some work experience, and then determine if the MA route is right for them. Experienced accountants may find the path to MA much easier, as they have more extensive knowledge and may require less study.
Management Accountant Average Annual Salary:
Management Accountant Salary in India ranges from ₹ 3.6 Lakhs to ₹ 25.0 Lakhs with an average annual salary of ₹ 9.6 Lakhs. Salary estimates are based on 567 salaries received from Management Accountants.
MA Salary by years of experience in US:
Years of work experience play a very important role in determining CMA salary in the US. With more years of work experience, a professional becomes more trained at the job for management-level roles and thus is highly skilled.
|Experience||Annual Salary in USD|
|Less than 2 years (Entry-level CMA)||$ 80000|
|2 to 7 years (CMA professional)||$ 93500|
|7 to 10 years (CMA)||up to $ 110000|
|Experienced CMA (Management positions)||up to $ 125,000|
Median Management Accountant Salary:
|Management Level||Median Base Salary|
MA Average Annual Salary by Experience Level:
Management Accountant Salary in India with less than 5 years of experience to 22 years ranges from ₹ 3.6 Lakhs to ₹ 25.0 Lakhs with an average annual salary of ₹ 9.6 Lakhs based on 567 salaries.
CMA Salary in US by Industry and Sectors:
The salary of a CMA in the USA also depends on the industry or sectors they are working in. The salary of a CMA by industry varies in the following way:
|Industry and Sectors||Annual Salary in USD|
|Medical Industry||$ 94500|
|Government Sector||$ 90000|
|Wholesale and Retail Trade||$106000|
|Manufacturing Industry||$ 100000|
|Finance Sector||$ 90000|
|Nonclassifiable Sectors||$ 89250|
|Public Accounting Sector||$ 85500|
Top Skills for Management Accountants:
- Management Accounting
- SAP CO
- Business process
- Product Costing
- SAP FICO
- Profitability Analysis
- Project Delivery
- Analytical skills
What are the benefits of gaining CMA in US?
Some of the benefits of scoring a CMA US are as follows:
- The majority of people in accounting are opting for a CMA US.
- Several individuals with mid and senior-level roles take up CMA certification for career growth and development.
- CMA US is a global-level professional certification and is recognized all over the world in countries like the UK, China, India, Canada, and the Middle East Countries. Therefore, it provides individuals with global opportunities.
- A CMA US certificate leads to a significant increase in salaries and other benefits for individuals globally.
FAQs About Management Accountant Salary in US:
How much money do management accountants make?
The Management Accountant Salary in US range from $11,388 to $301,215, with a median salary of $55,098. The middle 57% of Management Accountants makes between $55,100 and $136,947, with the top 86% making $301,215.
How many hours do management accountants work?
Typically, accountants work traditional 40-hour workweeks. However, these hours can vary depending on several factors. The specialty an Management Accountant Salary in US works in can be more demanding than another, which can require longer working hours.
What do you expect from a management accountant?
The primary responsibilities of a management accountant vary but mostly include: Preparing monthly Management Accountant Salary in US and other financial reports such as budgets. Presenting reports to senior management to aid with business decision-making. Compiling strategies that will reduce business costs.
How much does a CMA earn in the USA?
The average salary for a CMA is around $85,000 per year, but there are many factors that can determine CMA salaries such as experience, location, specific CMA job description, and more. Keep reading to learn everything you need to know about CMA requirements, exams, salary ranges, and jobs.
What is the salary of CMA in the USA per month?
According to the Association of Accountants and Financial Professionals in Business, the base median certified Management Accountant Salary in US for 2019 was $100,000. Including bonuses and compensations, the average net income for a CMA employee received is $107,817.
What skills does a management accountant need?
Key skills for management accountants
- Good oral and written communication skills.
- The ability to work as part of a team.
- Excellent analytical and numerical abilities.
- Sound business knowledge.
- Accuracy and an eye for detail.
What are the three management accounting tools?
Tools of Management Accounting
- 1st Tool: Analysis of Financial Statements.
- 2nd Tool: Budgetary Control.
- 3rd Tool: Decision Accounting.
- 4th Tool: Throughput accounting.
What is the most important role of a management accountant?
Management accountants work in both the public and private sectors. They prepare data recording and crunching numbers that their companies use for Management Accountant Salary in US budgeting and planning purposes. They are also responsible for managing risk, planning, strategizing, and decision-making.
What are the factors influencing management accounting?
Studies have found that there are factors that may affect management accounting practices. Literature has indicated that factors such as organization size, the intensity of market competition, level of qualification of accounting staff, and advanced production technology may affect management accounting practices.
Certified Management Accountant Salary in US is responsible for crunching numbers, managing company investments, risk management, strategic planning, and budgeting decisions. A CMA in the United States can earn an average base salary of 111,814 USD per year.
Financial and accounting skills such as risk management, budget making, and an understanding of business strategy are very important for career growth and progression as a Certified Management Accountant. Ernst & Young, Amazon, and Shell Oil Company offer great salary packages for