Management Accountants Optimistic About Future Earnings

"Never better a time to be a management accountant"

LONDON  -  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% (Note 1). 

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 (Note 2). 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 2017 Annual Salary

Currency

Australia

138,000

AUD

Canada

116,000

CAD

China

801,000

CNY

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

AEM

United Kingdom

62,000

GBP

United States of America

156,000

USD

CIMA Qualification Students: Salaries

Country of Employment

Average 2017 Annual Salary

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

United States of America

156,000

USD

South Africa

393,000

ZAR

Sri Lanka

460,000

LKR

United Arab Emirates

193,000

AEM

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.

Note 1: www.kornferry.com/institute/2017-Pay-Forecast

Note 2: www.weforum.org/agenda/2016/01/the-10-skills-you-need-to-thrive-in-the-fourth-industrial-revolution/

Media Contacts

Peter O’Connor
Tel: 07811 485559
Peter.oconnor@aicpa-cima.com

Veronika Kiesswetterr
Tel: 07801 964980
Veronika.kiesswetter@aicpa-cima.com