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US CMA Salary for Indian Professionals: Insights and Trends

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In an increasingly competitive global market, professional certificates have become essential tools for anyone looking to improve their career prospects. One such certification that has gained significant recognition among Indians is the Certified Management Accountant (CMA) offered by the Institute of Management Accountants (IMA) in the United States.

The US CMA certification equips individuals with advanced financial management skills, a deep understanding of management accounting principles, and strategic decision-making abilities.

Employers place a great value on these skills, resulting in competitive remuneration packages. The average starting US CMA salary in India is around INR 6 lakh per annum, with the pay range going up to INR 20 lakh or more per annum.

The Rise in Popularity of the US CMA Certification in India

The US CMA certification has seen a surge in popularity in India. Some of the reasons are as follows.

  1. Demand Surge

US CMAs have seen a surge in demand in India. There is steady year-on-year growth in professionals enrolling in the program.

  1. Corporate Preference

Many Indian conglomerates prioritize hiring CMAs. They hire US CMA holders for finance jobs requiring specialized skills.

Prominent Indian companies, including global consultancies like Accenture, Deloitte, EY, PwC, and KPMG, as well as multinational firms like Caterpillar and Larsen & Toubro, have a history of recruiting US CMAs.

Additionally, Indian conglomerates such as Wipro, Aditya Birla Group, Hindustan Unilever, ITC, and technology giants like Amazon India and IBM India have considered CMAs for various finance and consulting positions. Similarly, IT services providers like Infosys and Tata Consultancy Services have sought CMAs for roles involving financial analysis and management consulting.

  1. Global Network

CMAs benefit from the IMA's global network of over 80000 members in 140+ countries. This allows them to exchange knowledge, global career prospects, and significant cross-border collaboration.

  1. Pass Rates and Preparation

Despite the difficulty of the US CMA test, the most impressive thing about the CMA exam is the high passing rate.  The average US CMA passing percentage in India is around 45%.

  1. Salary Differential

US CMAs in India earn 56% more in median salary and 58% more in median total. compensation than their non-certified peers. The US CMA starting salary in India averages around INR 6 lakh p.a.

US CMS Salary Landscape: Exploring Compensation Insights and Trends for US CMA in India

The prospective compensation for a US CMA in India varies based on several aspects, including industry, region, work function, experience, and particular organization. But, the US CMA's highest salary in India can range from 20 lakh annually.

  1. Positions

US CMA salary in India per month for freshers can range from 6 lakh per annum for entry-level roles. This number may differ based on location, previous experience (if any, before pursuing CMA), etc. With corporate experience, you might make up to INR 6 lakh annually as a fresher.

US CMAs with substantial experience usually move into senior management positions such as finance managers, controllers, and finance directors. These positions may pay anything from INR 12 lakh to INR 25 lakh or more. High-performing CMAs with decades of experience in top companies may earn salaries exceeding INR 30-35 lakh per annum. 

Here’s a graph summarizing the above information:

  1. Industry Impact

Salary for a US CMA might vary significantly depending on their work sector. Salary is often higher in industries like finance, manufacturing, and consulting that largely rely on financial management and analysis. Here’s a glance at the industry-wise salary of US CMA holders:

 

  1. Job Profile

Upon completing the US CMA, the potential salary can vary based on the chosen job profile. The projected salary ranges (per annum) for various job profiles are as follows:

Job Profiles

Salary

Accountant

INR 8 to 13 lpa

Management Accounting Analyst

INR 9 to 13 lpa

Financial Consultant

INR 6 to 10 lpa

Reporting Analyst

INR 5 to 8 lpa

Financial Advisor

INR 10 to 20 lpa

  1. Company Wise

The following are the average salaries and salary ranges for US CMAs in various companies, considering different experience levels.

  • IQVIA: Those with 2+ years of experience earn between INR 5-6 lakh annually.
  • L&T Construction: INR 8.3 lakh. Individuals with 1-3 years of experience receive salaries ranging from INR 7.0 lakh to INR 10.0 lakh.
  • Larsen & Toubro Limited: INR 8.3 lakh. Those with 0-2 years of experience earn between INR 6.3 lakh and INR 10.0 lakh.
  • Accenture: INR 9.8 lakh. Professionals with 0-1 years of experience earn salaries ranging from INR 7.0 lakh to INR 12.0 lakh.

Key Takeaway

In conclusion, US CMA is a great career choice. US CMA holders have a steady financial future and the opportunity to progress in their careers. The average annual paycheck that US CMAs take home can range from INR 6 lakh to 25 lakh p.a., while those with decades of experience earn upwards of INR 30 lakh annually. 

To set foot into this rewarding and well-compensated career, you need thorough preparation and expert guidance. By signing up with a reputed CMA training provider, you can boost your chances of carving a successful entry in this competitive field.

1FIN by IndigoLearn
23-Oct-2023
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