Certified Management Accountants (CMAs) play an important role in finance and business. Their knowledge of financial planning, cost management, and internal controls enables them to advise on corporate finance, risk management, and investments. This article looks at the numerous CMA Career opportunities available to CMAs as well as the rewarding career paths that can be pursued after earning this prestigious certification.
Job Opportunities After CMA Certification
CMAs have a promising job outlook, with the US Bureau of Labor Statistics projecting a 7% increase in accountant and auditor employment from 2020 to 2030. The CMA certification significantly improves these prospects. According to the 2021 IMA Global Salary Survey, CMAs are more likely than non-certified counterparts to hold specific job titles.
Early Career CMA Jobs
Financial Analyst
- Average Salary: $83,660
- Responsibilities:
- Analyzing financial data and market trends
- Providing recommendations for smart investments
- Providing financial advice to corporations The CMA certification prepares financial analysts to provide strategic insights based on their strong data analysis skills.
Financial Risk Manager
- Average Salary: $102,325
- Responsibilities:
- Identifying financial risks
- Preparing risk-reduction strategies
- Analyzing world events’ impact on financial success CMAs excel in this role, given their proficiency in risk management and decision analysis.
Mid-Career CMA Jobs
Management Accountant
- Average Salary: $60,968
- Responsibilities:
- Delivering financial information to aid executive decisions
- Risk management, budget planning, and strategic analysis are areas of expertise. CMAs are well-equipped to provide management teams with practical financial advice.
Cost Accountant
- Average Salary: $57,382
- Responsibilities:
- Analyzing production costs for efficiency
- Minimizing financial waste and maximizing profits CMA-certified professionals are highly sought-after for their management accounting skills in this role.
Senior Accountant
- Average Salary: $69,372
- Responsibilities:
- Leading financial reporting, cost analysis, and productivity assessments
- Mentoring junior staff
- Assisting with financial and tax audits CMAs excel in senior accounting positions, focusing on more complex financial analysis.
Late-Career CMA Jobs
- Corporate Controller
- Average Salary: $101,370
- Responsibilities:
- Overseeing all financial reporting and accounting operations
- Evaluating the effectiveness of accounting systems
- Managing business performance metrics CMAs bring a wealth of experience to this senior leadership role.
- Chief Financial Officer (CFO)
- Average Salary: $137,121
- Responsibilities:
- Leading financial and accounting teams
- Providing strategic recommendations to the executive management team
- Making critical business decisions To reach high-level management positions, CMAs or MBAs are essential.
CMA Job Opportunities by Industry
CMAs are versatile professionals who can find work in a variety of industries. Manufacturing, finance, insurance, real estate, education, and wholesale and retail trade are the most common industries.
CMA Job & Career Outlook
According to the US Bureau of Labor Statistics, the accounting profession is expected to grow at a 7% annual rate from 2020 to 2030. Employers place a high value on the CMA certification, making it a profitable career investment.
CMA Job & Career FAQs
For those considering CMA certification, we answer some frequently asked questions about the CMA’s value and the job market after certification.
Finally, a CMA certification not only improves your financial knowledge but also opens the door to a diverse range of career opportunities in the ever-expanding world of finance and accounting. Whether you’re just starting out or looking to advance your career, becoming a Certified Management Accountant is a wise decision with significant career benefits.