With great jobs come great responsibilities comes great salary! Having specialized knowledge of business strategy and value creation are highly in demand for a CMA.
The CMA intermediate salary in India 2024 ranges between INR 4 to 7 lakhs per annum. The Certified Management Accountant (CMA) certification is a prestigious credential in the finance and accounting sector, offering excellent career opportunities and lucrative salary packages.
This article delves into the salary prospects for CMA professionals in India, exploring the various factors that influence earnings, from qualification levels to industry demand.
Salary After CMA Intermediate In India
The salary for CMA Inter qualified professionals in India varies based on factors such as industry, location, and experience. On average, the CMA intermediate salary in India 2024 ranges between INR 4 to 7 lakhs per annum.
Freshers can expect to start at the lower end of this range, with significant growth potential as they gain experience.
|
Position Level |
Typical Roles |
Salary Range (INR per annum) |
|
Entry-Level |
Junior Cost Accountant, Financial Analyst, Internal Auditor, Management Trainee |
3 to 5 lakhs |
|
Mid-Level |
Senior Cost Accountant, Financial Controller, Budget Analyst, Finance Manager |
5 to 8 lakhs |
|
Senior-Level |
Chief Financial Officer (CFO), Head of Finance, Senior Consultant |
10 lakhs and above |
Entry-Level Positions
- Junior Cost Accountant
- Financial Analyst
- Internal Auditor
- Management Trainee
For these roles, the CMA inter salary typically starts at around INR 3 to 5 lakhs per annum.
Mid-Level Positions
With a few years of experience, salary after CMA intermediate can increase, allowing professionals to advance to mid-level positions such as:
- Senior Cost Accountant
- Financial Controller
- Budget Analyst
- Finance Manager
In these roles, the salary for CMA inter qualified individuals can range from INR 5 to 8 lakhs per annum.
Senior-Level Positions
For those with extensive experience and additional qualifications, senior-level positions include:
- Chief Financial Officer (CFO)
- Head of Finance
- Senior Consultant
Senior-level positions can offer salaries exceeding INR 10 lakhs per annum, reflecting the high average salary for CMA inter qualified professionals.
Salary After CMA Final
Upon achieving the CMA Final qualification, professionals can expect higher salary packages, reflecting their advanced expertise and credentials. On average, the salary for CMA Final qualified professionals ranges between INR 8 to 15 lakhs per annum, with top positions offering even higher packages.
Factors Influencing CMA Salary in India
Industry
The industry significantly impacts the job after CMA inter salary. Sectors such as manufacturing, finance, and IT offer competitive salaries, while public sector jobs may have different pay scales.
Location
Location is another crucial factor. Metropolitan cities like Mumbai, Delhi, and Bangalore tend to offer higher salaries compared to smaller towns and cities.
Experience
Experience is a key determinant of salary. As professionals gain more experience, they can expect higher compensation packages and more significant responsibilities.
Skills and Competencies
Additional skills and certifications can also enhance salary prospects. Proficiency in software such as SAP, advanced Excel, and financial modeling can make candidates more attractive to employers.
High Demand Sectors for CMA Professionals
The demand for CMA professionals is high in various sectors, including:
- Manufacturing
- Banking and Finance
- IT and Services
- Public Sector Units (PSUs)
These sectors offer excellent career growth opportunities and competitive salaries for CMA qualified professionals.
The Big 4 – CMA Firm You Can Work In
The Big 4 refers to the 4 largest professional services networks in the world. Being a CMA you have the opportunity to work in the Big 4:
Deloitte Touche Tohmatsu Limited
Multinational professional services network with offices in over 150 countries. They provide auditing, consulting, Financial advisory, risk advisory, tax and legal services.
Ernst & Young
Multinational professional services network with offices in over 150 countries. They are headquartered in London. They provide financial audit, consultancy, tax and advisory services.
Price Water Coopers
Second largest professional services network in the world. They have offices in 157 countries
Klynveld Peat Marwik Goerdele (KPMG)
British – Dutch multinational professional services network has offices in 145 countries. They provide financial audit, tax and advisory.
By understanding the various factors influencing the CMA salary in India, candidates can better prepare themselves for a rewarding career in management accounting. With the right qualifications and experience, the salary for CMA professionals can be quite lucrative, offering excellent growth potential and career opportunities.
What Is The Average Salary For CMA Inter Qualified Professionals In India?
The average salary for CMA inter qualified professionals in India ranges between INR 4 to 7 lakhs per annum.
How Does location Affect The Salary For CMA Professionals In India?
Location significantly impacts salary. Metropolitan cities like Mumbai, Delhi, and Bangalore offer higher salaries compared to smaller towns and cities.
What Industries Have The Highest Demand For CMA Qualified Professionals?
Industries with high demand for CMA qualified professionals include manufacturing, banking and finance, IT and services, and public sector units (PSUs).
How Does Experience Influence The Salary For CMA Professionals In India?
Experience is a key determinant of salary. As professionals gain more experience, they can expect higher compensation packages and more significant responsibilities.
Can Additional Skills And Certifications Impact The Salary For CMA Qualified Professionals?
Yes, additional skills and certifications such as proficiency in SAP, advanced Excel, and financial modeling can enhance salary prospects.
How TopLad Helps In Finding The Best CMA Job For Having The Desired Salary
TopLad has a job portal where you can find new and exciting job opportunities daily. We regularly post the latest jobs from top companies such as Amazon, Accenture, Larsen and Toubro, Ernst and young, and many more! Whether you are semi-qualified or fully qualified, you can check out the best options here.
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