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/
