Wondering what is the range of US CMA salary in India?
The US Certified Management Accountant (CMA) certification has gained significant recognition in India, opening up lucrative career opportunities for finance professionals. This blog aims to provide insights into the US CMA salary landscape in India, shedding light on the factors influencing compensation, average salary ranges, job roles, and the overall potential for career growth.
Are you curious about the US CMA salary in India? As a globally recognized credential, the US Certified Management Accountant (CMA) certification has significantly enhanced the career opportunities for finance professionals in India. This article provides an in-depth look at the salary landscape for US CMAs in India, highlighting factors influencing compensation, average salary ranges, job roles, and the overall potential for career growth.
The US CMA certification validates expertise in management accounting and financial management, equipping professionals with essential skills in strategic planning, risk management, financial analysis, and decision-making. By earning the US CMA designation, individuals can significantly boost their career prospects and increase their earning potential.
What is US CMA Average Salary in India?
Average US CMA Salary in India for each individual may vary, US CMA professionals in India can expect competitive compensation. On average, entry-level US CMAs in India can earn between INR 6-10 lakhs per annum, while mid-level professionals with 5-10 years of experience can earn around INR 12-20 lakhs per annum. Senior-level CMAs with extensive experience and leadership roles can command salaries exceeding INR 25 lakhs per annum.
The average US CMA salary in India varies for each individual. However, entry-level US CMAs in India can expect to earn between INR 6-10 lakhs per annum. Mid-level professionals with 5-10 years of experience can earn around INR 12-20 lakhs per annum. Senior-level CMAs with extensive experience and leadership roles can command salaries exceeding INR 25 lakhs per annum.
Several factors contribute to the determination of US CMA salary in India. These include:
- Experience Level: Generally, professionals with more years of experience command higher salaries. The US CMA certification coupled with relevant work experience can significantly boost earning potential.
- Industry and Sector: Salaries can vary depending on the industry or sector in which an individual works. Industries such as banking, finance, consulting, and multinational corporations often offer competitive compensation packages.
- Company Size and Location: The size and location of the employing organization can impact salary levels. Larger companies and metropolitan areas tend to offer higher salaries due to increased resources and market demand.
- Job Role and Responsibilities: The specific job role and level of responsibilities undertaken by US CMA professionals can influence their compensation. Roles such as financial analyst, management accountant, finance manager, or controller are often associated with higher salary prospects.
| Particulars | CMA Salary per Annum | CMA Salary per Month |
| Starting Salary | Rs. 6.5 Lacs | Rs. 54,000 |
| Least Salary | Rs. 2 Lacs | Rs. 16,000 |
| Highest Salary of Fresher | Rs. 22 Lacs | Rs. 183,000 |
| CMA Average Salary in India | Rs. 10 Lacs | Rs. 83,000 |
| Highest CMA Salary | Rs. 55 Lacs | Rs. 458,000 |
Several factors contribute to the determination of US CMA salary in India. These include experience level, industry and sector, company size and location, and job role/responsibilities. The starting salary for a CMA in India is Rs. 6.5 Lacs per annum or approximately Rs. 54,000 per month. The lowest reported CMA salary in India is Rs. 2 Lacs per annum or around Rs. 16,000 per month. The highest salary earned by a fresher CMA in India is Rs. 22 Lacs per annum or approximately Rs. 183,000 per month. The average salary for CMAs in India is reported to be Rs. 10 Lacs per annum or around Rs. 83,000 per month. The highest reported salary for a CMA in India is Rs. 55 Lacs per annum or approximately Rs. 458,000 per month.
It’s important to note that the number of attempts taken to complete the CMA course and the rank achieved in the CMA Final exams can also impact the salary. Generally, achieving a high rank and clearing the exams in the first attempt can lead to better salary prospects.
Companies Hiring US CMA’s in India
Several companies in India actively hire US CMAs due to their expertise in financial management and strategic decision-making. Here are some notable companies that often recruit US CMAs:
- Big Four Accounting Firms (Deloitte, PricewaterhouseCoopers, KPMG, Ernst & Young)
- Multinational Corporations (MNCs) such as IBM, Microsoft, Accenture, Amazon, and Coca-Cola
- Financial Institutions and Banks (HDFC Bank, ICICI Bank, State Bank of India, Axis Bank)
- Consulting Firms (McKinsey & Company, Boston Consulting Group, Bain & Company)
- Manufacturing and FMCG Companies (Tata Group, Reliance Industries, Hindustan Unilever Limited, Marico)
- Technology Companies (Infosys, Wipro, TCS, Cognizant)
- Pharmaceuticals and Healthcare Companies (Sun Pharmaceutical Industries, Dr. Reddy’s Laboratories, Apollo Hospitals)
- E-commerce Companies (Flipkart, Snapdeal, Paytm, Myntra)
- Telecom Companies (Bharti Airtel, Vodafone Idea, Reliance Jio)
- Energy and Infrastructure Companies (Adani Group, Larsen & Toubro, Tata Power)
These are just a few examples, and there are numerous other organizations across various sectors that value the skills and knowledge of US CMAs.
Job Roles and Salary Expectations
The US CMA certification opens doors to various job roles in India, including
Based on the data from Payscale, here are the updated salary figures:
- The average base salary for a Certified Management Accountant (CMA) in India is ₹814,000 per year.
- A Financial Analyst can expect to earn between ₹302,000 – ₹1,000,000 with an average salary of ₹580,353.
- A Finance Manager’s salary ranges from ₹397,000 – ₹2,000,000 with an average salary of ₹1,000,000.
- The salary for a Chief Financial Officer (CFO) ranges from ₹615,000 – ₹8,000,000 with an average salary of ₹3,588,138.
- A Senior Finance Manager can expect to earn between ₹1,000,000 – ₹3,000,000 with an average salary of ₹2,031,697.
- An Accountant’s salary ranges from ₹196,000 – ₹641,000 with an average salary of ₹399,959.
- A Senior Financial Analyst can expect to earn between ₹318,000 – ₹2,000,000 with an average salary of ₹823,435.
- A Cost Accountant’s salary ranges from ₹296,000 – ₹1,000,000 with an average salary of ₹683,140.
Average Annual Salary by Experience for US CMA
The average annual salary for a Certified Management Accountant (CMA) in India is ₹6.0 Lakhs, with a range from ₹0.8 Lakhs to ₹21.7 Lakhs. This salary estimate is based on 101 latest salaries received from CMAs. The salary varies with experience, with CMAs having less than 1 year of experience to 10 years earning from ₹0.8 Lakhs to ₹21.7 Lakhs with an average annual salary of ₹6 Lakhs.
Top Skills for US CMAs
The top skills for CMAs in India, based on job demands, include Accounting, Auditing, Budgeting, CMA, and Capital Budgeting. These skills are highly sought after in various industries and significantly influence the earning potential of CMAs.
CMA Salaries by Company in India
The website provides salary data for CMAs in different companies such as:
- IQVIA: CMAs with 0-2 years of experience earn an average salary of ₹3.7 Lakhs.
- L&T Construction: CMAs with 1-3 years of experience earn an average salary of ₹8.3 Lakhs.
- Accenture: CMAs with 0-1 years of experience earn an average salary of ₹9.8 Lakhs.
- Karnavat & Co.: CMAs with 1-3 years of experience earn an average salary of ₹3.0 Lakhs.
- Larsen & Toubro Limited: CMAs with 0-1 years of experience earn an average salary of ₹8.1 Lakhs.
What are the Benefits and Opportunities of Becoming an Certified Management Accountant:
Apart from attractive salaries, US CMA professionals in India enjoy several additional benefits and career opportunities. These include:
- Global Recognition: The US CMA certification is globally recognized and respected, enhancing career prospects not only in India but also internationally.
- Career Advancement: US CMA designation holders are well-positioned for career growth and progression. They can pursue leadership roles, take on more significant responsibilities, and explore diverse industry sectors.
- Industry Demand: With the increasing focus on financial analysis, strategic planning, and risk management, the demand for CMAs in India is on the rise. This demand translates into greater opportunities and competitive compensation packages.
Conclusion
The US CMA certification presents a promising pathway for finance professionals in India, offering substantial salary potential and a rewarding career journey. With the right skills, experience, and the prestigious CMA designation, individuals can unlock a world of opportunities in various industries and organizations. Whether as financial analysts, management accountants, finance managers, or controllers, US CMA professionals in India are well-positioned for success and financial growth in their careers. Embrace the US CMA certification to pave the way for a bright future in the dynamic field of management accounting.
What is the starting salary of a US CMA in India?
The starting salary of a US Certified Management Accountant (CMA) in India varies depending on the industry and location. However, on average, a fresher US CMA can expect to earn around Rs. 2.4 to 3.6 lakhs per year.
What is the salary of CMA in India and US CMA?
The average salary of a CMA in India is around Rs. 6.0 lakhs per year. For a US CMA working in India, the average salary is approximately $15,000 per year, which is equivalent to around Rs. 11 lakhs. These figures can vary based on experience, skillset, and location.
What is the average salary of a US CMA fresher in India?
The average salary for a fresher US CMA in India is approximately Rs. 3,48,000 per annum. This figure can fluctuate based on the industry, the size of the company, and the location of the job.
What is the highest salary of a US CMA fresher in India?
The highest salary of a US CMA fresher in India can vary significantly based on various factors. However, the highest recorded salary is 55LPA , a US CMA fresher can command a competitive salary in the Indian market.
