Management accountants optimistic about future earnings


Never a better time to be a management accountant

  • 82 per cent of management accountants expect salary increase in next year
  • Five per cent global average salary increase predicted

Management Accountant pay is performing well against the backdrop of low global inflation, with 82 per cent of Chartered Global Management Accountant (CGMA) designation-holders expecting a pay rise in the year ahead. Globally, the average salary for a CGMA is $89,000. 

The Association of International Certified Professional Accountants’ member and student survey revealed that average salary increases across the world are expected to rise from four to five per cent year-on-year for CGMAs. This is ahead of global average salary rises in 2017 of 4.4%.*

It is also good news for students of the Chartered Institute of Management Accountants (CIMA), who anticipate a rise from nine to ten per cent, on average, as they progress on their route to earning the CGMA designation.

Professional accountants are benefiting from the shift to a data-driven economy, with their commitment to continuous professional development seeing them acquire the skills required to thrive in tomorrow’s workforce.**  The top three skills that CGMAs are looking to invest in over the next 12 months are strategy (38 per cent), performance (31 per cent) and negotiating (27 per cent).

In terms of market attractiveness, nine per cent of CGMAs, and three per cent of CIMA students, told us that they are seriously considering relocating to a new country, with Australia, followed by UK and USA, emerging as the top preferred destinations.

Andrew Harding FCMA, CGMA, Chief Executive – Management Accounting – at the Association of International Certified Professional Accountants, said:

“Change is happening at unprecedented speed, and reshaping how business is done. There has never been a better time to be a management accountant. The skills and experience they use to overcome challenges and seize opportunities are clear for employers to see. This reflected in the salaries and positions being offered globally.”

More information on the survey can be found on the Association’s Salary Insights Tool, or https://salary.aicpaglobal.com/, where chartered global management accountants and CGMA students can compare their salary across the profession. 

CGMA-Qualified Members: Average Annual Salaries

Country of employment Average Annual Salary 2017 Currency
Australia 138,000 AUD
Canada 116,000 CAD
China 801,000 CNY
Hong Kong 1,009,000 HKD
India 2,553,000 INR
Ireland 83,000 EUR
Malaysia 196,000 MYR
New Zealand 137,000 NZD
Poland 206,000 PLN
Singapore 146,000 SGD
South Africa 863,000 ZAR
Sri Lanka 2,173,000 LKR
United Arab Emirates 402,000 AED
United Kingdom 62,000 GBP
United States of America 156,000 USD

CIMA Qualification Students: Salaries

Country of employment Average Annual Salary 2017  Currency
Botswana 140,000 BWP
China 394,000 CNY
India 1,432,000 INR
Ireland 45,000 EUR
Malaysia 75,000 MYR
Pakistan 730,000 PKR
Poland 105,000 PLN
South Africa 393,000 ZAR
Sri Lanka 460,000 LKR
United Arab Emirates 193,000 AED
United Kingdom 32,000 GBP
Zambia 142,000 ZMW
Zimbabwe 24,000 USD
Salaries are rounded to the nearest 1,000    

Figures are based on the Association of International Certified Professional Accountants 2017 Salary Survey. Some 13,000 respondents took part between 12 May and 6 June 2017. 

* www.kornferry.com/institute/2017-Pay-Forecast

** www.weforum.org/agenda/2016/01/the-10-skills-you-need-to-thrive-in-the-fourth-industrial-revolution/