The average CMA pay in India is Rs 10 lakhs per year, according to ICMAI campus placements in 2022. So, in India, a CMA makes about Rs 83000 per month. Accenture also offers the highest CMA package, which is worth Rs 22 lakhs annually. As CMA develops its talents and gains more expertise in its field, its annual income may eventually reach up to Rs 55 lakhs.
However, a CMA’s annual compensation in India will depend on a variety of elements, including their position, workplace, level of experience, and industry. We’ll discuss the CMA salary in India in 2022 in this article. You’ll also be aware of the scope, the ideal industries for CMAs to operate in, and their roles.
CMA Salary in India per Month and Annum 2023
The average yearly income of a new CMA in India is Rs. 10 lakhs, according to ICMAI data. The average packages made available to CMAs increased by 30% in 2022.
The following table lists the starting, average, and highest monthly salary for CMAs in India for 2022:
|Particulars||CMA Salary per Annum||CMA Salary per Month|
|Highest Salary of Fresher||Rs. 22 Lacs||Rs. 183,000 per month|
|Highest CMA Salary||Rs. 55 Lacs||Rs. 458,000 per month|
|Starting Salary||Rs. 6.5 Lacs||Rs. 54,000 per month|
|CMA Average Salary in India||Rs. 10 Lacs||Rs. 83,000 per month|
|Least Salary||Rs. 2 Lacs||Rs. 16,000 per month|
How much does a CMA Earn Abroad?
In response to the demand on the market, countries all over the world pay cost accountants enormous salaries. The annual compensation for a CMA working abroad is $85,000.
Are you wondering if a CMA can make crores?
The figures then become clear. In managerial roles, an experienced CMA can earn up to $125,000.
A Certified Management Accountant typically earns more money than a standard accountant, especially in the USA. CMAs are also given more desirable salary packages than non-CMAs and have better opportunities for progression in senior financial management positions.
Areas for Recruitment for CMA
Worldwide and particularly in India, demand for CMAs is rising quickly. Due of their expertise in their fields, the majority of organisations want to hire them. CMAs work in a variety of disciplines and sectors. The fields of finance, research, management, and accounting are among those that are thriving.
Top Companies for CMAs in India
All notable firms are looking for CMA specialists. Businesses employing CMA professionals frequently have superior financial planning when compared to those without.
Therefore, the top employers of CMAs, including the top four significant firms, include: EY India, PwC, KPMG, and Deloitte.
CA vs CMA Salary in India
Despite the fact that both the CA and CMA have accounting as their foundation, the CA focuses more on taxation, auditing, and accounting, whilst the CMA is based on management accounting. The strategic management accounting component of the CMA programme takes centre stage.
The average CA salary in India is between Rs. 8 and Rs. 9 lakhs annually, and it rises with training and expertise. Contrarily, the typical remuneration offered to CMAs during college placement is Rs. 10 lakhs annually.