CMA is one of the most prestigious and sought-after qualifications in India. Professionals holding these qualifications ensure value addition to the company by giving expertise in financial management, cost accounting, and business strategy. The average salary for a CMA in India is INR 8.1 LPA, equivalent to approximately INR 69,000 monthly. Here in this blog, we will discuss the US CMA salary in India in detail, including factors affecting earnings, roles and responsibilities, and sectoral and regional comparisons.
What are the Roles and Responsibilities of CMA?
The roles and responsibilities of a CMA include a wide range of financial and managerial activities, mentioned below:
- Cost Management: This involves the analysis and control of costs with a view to enhancing profitability.
- Budgeting: One should prepare budgets and forecasts to ensure better financial planning.
- Financial Analysis: It is the interpretation of financial data in some meaningful way to facilitate decisions.
- Internal Auditing: It ensures that the financial regulations and standards are duly followed.
- Strategic Planning: Assisted in long-range business planning and strategy formulation.
- Risk Management: Risk identification and financial risk mitigation.
These roles really make CMAs quite indispensable to any organization in terms of financial health and success; hence, the competitive package that comes with this position.
CMA Monthly Salary in India
Salaries for a US CMA vary greatly in India and depend on a lot of factors: experience, industry, and location. The average earnings of a CMA fresher range from ₹50,000 to ₹100,000 monthly, though this figure will grow with rising experience. In senior or very specialized positions, the monthly earnings can easily cross ₹ 200,000.
| Particulars | CMA Salary per Annum | CMA Salary per Month |
| Starting Salary | Rs. 6.5 Lacs | Rs. 54,000 per month |
| Least Salary | Rs. 2 Lacs | Rs. 16,000 per month |
| Highest Salary of Fresher | Rs. 22 Lacs | Rs. 183,000 per month |
| CMA Average Salary in India | Rs. 10 Lacs | Rs. 83,000 per month |
| Highest CMA Salary | Rs. 55 Lacs | Rs. 458,000 per month |
Minimum Salary Package of a CMA Fresher in India
In India, the minimum compensation package for a fresh CMA would lie in the range of ₹6 to ₹8 lakhs per annum. The starting pay is very competitive and reflects their high demand in most industries. Fresher CMAs may hence expect this to grow very fast, with experience and capabilities proved in one’s work.
CMA Salary in India is Based on Different Factors
The CMA remuneration in India is based on a lot of differential factors. Some of the determining factors for CMA salaries in India are as follows:
- Experience: As in most professions, experience forms a significant factor in determining salary. The experienced CMAs earn much, much more than freshers.
- Industry: It primarily varies in the pay scales range that different industries offer to CMAs. A CMA who is attached to the manufacturing sector may get remuneration that can vary from the IT industry.
- Location: Salaries vary according to the city or state where the CMA works; salaries are higher in metropolitan areas.
- Job Title: Financial Controller or Chief Financial Officer are some of the specialized job roles commanding better pay packages.
- Organization Size: Larger organizations pay more compared to smaller firms.
The CMA Salary in Various Job Roles
Certified Management Accountants (CMAs) are greatly sought after in the accounting and finance industries for their financial management and strategic decision-making skills. The compensation for CMAs can range extensively based on the particular job function and industry. Here, we discuss the average compensation CMAs earn in different roles, emphasizing the rewarding aspect of this certification.
| Job Role | Average Annual Salary |
|---|---|
| Cost Accountant | ₹6-8 Lakhs |
| Financial Analyst | ₹7-9 Lakhs |
| Finance Manager | ₹10-15 Lakhs |
| Internal Auditor | ₹8-12 Lakhs |
| Financial Controller | ₹15-20 Lakhs |
| Chief Financial Officer (CFO) | ₹25-40 Lakhs |
CMA Salary in Different Cities in India
The salary of a CMA can vary significantly across different cities in India. Metropolitan cities like Mumbai and Bangalore tend to offer higher salaries due to the higher cost of living and the concentration of large corporations. Here’s a look at how the average annual salary compares in some major cities:
| States | Average Annual Salary |
|---|---|
| Mumbai | ₹10-12 Lakhs |
| Delhi | ₹9-11 Lakhs |
| Bangalore | ₹10-13 Lakhs |
| Chennai | ₹8-10 Lakhs |
| Kolkata | ₹7-9 Lakhs |
| Hyderabad | ₹9-11 Lakhs |
Different Industries in Which CMA Can Work
CMAs are not restricted to any particular industry and have opportunities open in many sectors, which include:
- Manufacturing Sector: CMA’s are much needed in the manufacturing sector. This is because of the high number of production procedures in the manufacturing sector, and it is inevitable to manage costs so that there would be profitability. In manufacturing firms, an Entry Level CMA with less than three years of experience receives an average salary of 3.4 Lakhs annually. In Manufacturing, an experienced CMA in the middle of his career with 4-9 years of experience receives an average salary of 21.5 lakhs annually.
- Banking and Finance: CMAs can undertake financial operations, risk analysis, and investment planning in financial institutions and banks. The salary of the CMA in the banking and finance field is 3.5 lakhs and with experience may be increased to 8 lakhs
- FMCG Companies: CMAs can contribute significantly to the role of FMCG companies by offering financial insights and helping in cost, performance, and risk management. An entry-level CMA receives a salary of 3 lakhs per annum. A CMA with experience of more than three years can earn up to 8.2 lakhs in FMCG companies.
- Consulting Firms: You can take up the profession of a consultant as a CMA, offering financial guidance and advice to companies and individuals. The initial salary of a CMA in a consulting firm is typically around 6.3 lakhs per annum. In India, a CMA can earn an average annual salary of 6.3 Lakhs to 8.1 Lakhs.
- Retail: Retail companies need to have proper financial management for profitability, and CMAs can help with managing finances, sales trend analysis, and inventory optimization. The salary for a starting CMA in retail is about 2.5 Lakhs annually, and the maximum salary that a CMA can get in retail is 6.3 Lakhs annually.
- Oil/gas: US CMA can help with financial planning and analysis, cost management, and financial reporting in oil/gas firms. The mean initial salary for a CMA in an oil and gas firm is approximately 16.2 lakhs annually, and the maximum salary that a CMA can receive in an oil and gas firm is 23.0 lakhs annually
Top and Highly Paying Companies Hiring CMA in India
Several top-tier companies in India actively recruit CMAs and offer attractive salary packages. These companies are known for their robust financial operations and value the expertise that CMAs bring to the table. Some of these include:
| Company | Annual Salary for CMA |
|---|---|
| Deloitte India | Rs. 14 lakhs |
| KPMG India | Rs. 12 lakhs |
| EY India | Rs. 12 lakhs |
| PwC India | Rs. 11 lakhs |
| Accenture India | Rs. 10 lakhs |
CMA Salary Based on Experience
CMA Salary Based on Experience
Salaries for Certified Management Accountants (CMA) vary widely depending on experience, industry, and geographic location. Entry-level CMAs typically start with competitive salaries, which significantly increase as they gain expertise and assume larger responsibilities. Over time, experienced CMAs can command high wages, reflecting their critical role in financial management and strategic decision-making within organizations.
| Year of Experience | Average Annual Salary |
|---|---|
| 0-2 Years (Fresher) | ₹6-8 Lakhs per annum |
| 2-5 Years (Junior Level) | ₹8-12 Lakhs per annum |
| 5-10 Years (Mid-Level) | ₹12-18 Lakhs per annum |
| 10+ Years (Senior Level) | ₹18-30 Lakhs per annum |
Average CMA Salary in Private Companies
Among private companies, the annual compensation for CMAs averages in the range of ₹8-12 Lakhs. It is even higher for employees working in a multinational corporation or even some specialized roles, such as financial planning and analysis.
Annual CMA Package in Government Sector Jobs
Government job-holding Certified Management Accountants (CMAs) typically enjoy secure employment and decent remuneration, designed to their key financial management roles. Let’s have a closer look at the job roles and salary packages for CMAs working in different government companies:
NAFED (National Agricultural Cooperative Marketing Federation of India)
- Job Profile: Manager of Accounts
- CMA Salary: ₹6.5 Lakhs
The job entails managing the financial activities associated with marketing of agricultural produce within finances. The Manager of Accounts sees to it that there is finance regulation compliance and assists in strategic finance planning to promote NAFED’s goals.
Regional Centre for Biotechnology
- Job Profile: Senior Accounts Assistant
- CMA Salary: ₹8.5 Lakhs
As a Senior Accounts Assistant, the professional shall be in charge of maintaining accounting records, making financial statements, and performing financial analysis to assist the centre’s biotechnology research efforts.
IWAI (Inland Waterways Authority of India)
- Job Profile: Chief Financial Officer (CFO)
- CMA Salary: ₹12 Lakhs
The IWAI CFO serves a strategic role in overseeing the finances of the authority, budgeting, forecasting, and financial planning. It is a pivotal role in ensuring effective allocation and utilization of resources in developing and maintaining inland waterways.
Average US CMA Salary in Other Countries
The US CMA certification is a globally recognized credential, translating to high-value jobs in different foreign markets. US CMA salaries differ considerably in different countries because of local economic environments, demand for expertise, and industry norms. Below is a sampling of average US CMA salaries in selected countries, emphasizing the global recognition and monetary value of this certification.
| Countries | Average Annual Salary |
|---|---|
| United States | $70,000 – $90,000 annually (approx. ₹55-70 Lakhs) |
| Canada | CAD 60,000 – 80,000 annually (approx. ₹35-50 Lakhs) |
| United Kingdom | £50,000 – £70,000 annually (approx. ₹50-70 Lakhs) |
| Middle East (UAE, Saudi Arabia) | AED 200,000 – 300,000 annually (approx. ₹40-60 Lakhs) |
Conclusion
The CMA salary in India depends on a range of factors, starting with experience, industry, geographical location, and job function. CMAs are highly prized valuables across industries, and their financial management, cost accounting, and strategic planning capabilities guarantee that they draw lucrative salaries. As a matter of fact, careers as CMAs promise enormous scope for professional growth and good pay not only within the private and public sectors of India but even when performed abroad. As more firms begin to appreciate cost management and financial analysis, more CMAs will also be in demand in the industry, which will also increase their earnings potential.
US CMA Salary in India FAQs
What is the starting salary of CMA in India?
The starting salary for CMA freshers in India ranges from ₹50,000 to ₹100,000 monthly. However, this figure will rise as per increasing experience.
Is US CMA is demand in India?
The demand for US CMA professionals is on the rise, particularly in countries like India and the USA. Corporations are increasingly recognizing the value of CMA expertise, leading to expanded opportunities for certified individuals.
Which company pays the highest salary to CMA in India?
Four big companies that pay highest salary to CMA in India are Deloitte with INR 6.3 LPA – 7.7 LPA, PricewaterhouseCoopers (PwC) with INR 7 LPA – 13 LPA, Ernst & Young (EY) with INR 6 LPA – 20 LPA, and KPMG with INR 4 LPA – 25 LPA.
How much does CMA US earn in India?
The average salary for a CMA in India is INR 8.1 LPA, equivalent to approximately INR 69,000 monthly. However, a CMA’s salary may vary based on their knowledge, skills, experience, job profile, location, expertise, and industry
Who earns more, CA or CMA?
A CA fresher enjoys a starting salary of 6-7 lakhs INR per annum, while the CMA freshers start with 4-5 lakhs INR. Both are good career opportunities to work in India.
Which cities in India offer the highest salaries for CMAs?
These are locations like Mumbai, Bangalore, and Delhi, that offer the highest salary to CMA professionals, hence offering them an average annual compensation range of ₹ 10 to ₹ 13 lakhs.
What is the average pay for a CMA in Government Jobs in India?
In government-related jobs, for CMAs, the average annual package can go up to ₹7-10 lakhs, apart from benefits like additional perks and job security.
