IMA’s Annual Salary Survey Reveals that Certification Commands Greater Earning Power
N.J., June 20, 2013
a challenging 2011 that saw accounting salaries decline for the first time in
23 years, IMA®
(Institute of Management Accountants) members saw increases in both average
salary and total compensation in 2012, according to the association’s 2012
Annual Salary Survey. To view the survey’s highlights, visit: http://www.imanet.org/about_ima/news/press_release_detail/13-06-20/Accountants%E2%80%99_Salaries_Rise_to_Highest_Levels_in_24_Years.aspx.
published in this month’s issue of Strategic
Finance, cites professional certification, advanced degrees, and experience
as the factors that drive salary increases. The findings suggest that the outlook
is optimistic for accountants as recovery from the 2007 recession continues.
IMA members saw average
salaries increase by $3,624 in 2012, raising the average salary by
3.3 percent to $112,625.
The average total compensation (base pay plus incentives) climbed $6,063 to
$135,654 – the first time total compensation topped $130,000 in the history of
holding the CMA®
(Certified Management Accountant) credential continued to enjoy greater earning
power. CMA holders reported an average annual salary of $115,290, or 25 percent
more (compared to $92,570) than those without certification. The average annual
total compensation for CMAs was $139,578, a difference of more than $34,000 (or
32 percent) compared to their noncertified peers. The certification advantage
is evident at all stages of one’s career as certified professionals in all five
of the survey’s age categories reported higher earnings.
“As the profession
grows, accountants must find ways to differentiate themselves in order to stand
out,” said Jeff
Thomson, CMA, IMA president and CEO. “The findings of this year’s Salary
Survey point to the value of certification – not only in terms of earning power,
but the value to employers who need highly qualified accounting talent.”
According to Mr.
Thomson, the CMA’s impact is seen even at the earliest career stages (19 to 29
year age category). The average total compensation for CMA-certified young
professionals was 44 percent higher than those not certified.
The data in the survey
is divided into multiple sections, including management level, academic degrees
earned, industry, and geography. Data was collected from a random sample of
5,117 IMA members in the U.S. in December 2012 and January 2013.
(Institute of Management Accountants) IMA®
, the association of
accountants and financial professionals in business, is one of the largest and
most respected associations focused exclusively on advancing the management
profession. Globally, IMA
supports the profession through research, the CMA®
Accountant) program, continuing
, networking, and advocacy of the highest ethical business
has a global network
of more than 65,000 members in 120 countries and 200 local chapter communities.
provides localized services
through its offices in Montvale
, UAE; and Beijing, China
For more information about IMA
please visit www.imanet.org