Certified Management Accountants Make How Much More?

If you work in accounting and want to take your career higher, consider becoming a Certified Management Accountant. These senior-level financial professionals boast the tangible experience and practical skills that companies need. Of course, expect to earn a lucrative salary and a generous benefits package when acquiring this certification.

Let’s take a closer look at the high earnings potential of a Certified Management Accountant. Leverage this information to inspire yourself to get the experience and any training required for this certification. Soon your accounting career will reside on the fast track to life-long success.

Certified Management Accountants also Boast Strategic Skills

So what is a Certified Management Accountant, and how does their skill set vary from the traditional accounting role? In addition to a standard set of accounting skills, a CMA also possesses strategic planning abilities. Naturally, a measure of management acumen makes up a portion of their varied skill set.

In short, CMAs crunch numbers like a normal accountant. They also might manage a team of accountants. However, they also see the big picture, with the strategic insights necessary to understand what those numbers mean. They perform long-term planning, requiring foresight and the responsibility to make important decisions.

What is a Typical Salary Range for Certified Management Accountants?

Not surprisingly, CMAs command a higher salary compared to the traditional accountant role. An experienced CMA earns a salary well into the six-figure range. Expect an average salary of around $125,000 per year if you achieve this level in your career.

In addition to a higher salary, becoming a CMA puts you on a rewarding career path. For example, the next step for many CMAs includes becoming a controller or even a VP of Finance. Success in those roles potentially qualifies you for a CEO or another executive position.

Requirements for Becoming a CMA

A bachelor’s degree in a relevant field is the basic educational requirement for a CMA. Of course, expect to study anywhere from six months to two years for the rigorous CMA exam. Remember, this job role also combines strong math and analytical skills with leadership and strategic planning acumen.

You typically need at least two years of experience as an accountant before taking the CMA exam. The two-part exam requires a fee of either $600 for a student or $900 for a professional. However, some take the CMA exam while still in college but earn the designation after their two years of experience.

If you want help with your accounting career, speak with the recruiters at Venteon. As one of the top financial staffing agencies in Michigan, we know the companies looking for talented professionals. Connect with us soon!

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