Cost Management Accountant (CMA) is a popular and reputed career option after the 12th. The rise in demand for CMA has increased rapidly over the years in every sector,ระบบใหม่ปัจจุบัน ที่ได้เก็บรวบรวมเกม ทดลองเล่นสล็อต จากค่าย PG SLOT ที่ออกใหม่ มากับฟีเจอร์สล็อตฟรีสปิน ทดสอบเล่นได้ก่อนคนไหนกัน private or public and more students are taking up the CMA Course. The primary reason students are opting for this career is due to good CMA Salary In India. The salary of a CMA is based on various factors like experience, job location, profile, etc. The starting salary of a fresher is ₹2,50,000, and it increases with experience. If a CMA has additional certification like CFA or CA, they can earn up to ₹ 15-20 lakhs per year.
CMA Monthly Salary in India 2022-
The CMA salary ranges between 2.5 lakhs to 40 lakhs. The average CMA salary in India is 10 lakhs per annum. The highest CMA salary package offered to fresher in off-campus placement was 27 lakhs per annum. With years of experience and skills learned, they can reach up to 55lakhs per annum. Below is the table mentioning the lowest, starting, highest, fresher, and average salaries in India in 2022.
|Particulars||CMA Salary in India Per Month||CMA salary per Annum|
|Starting Salary||₹ 54,000||₹ 6.5 lakhs|
|Lowest Salary||₹ 16,000||₹ 02 lakhs|
|Highest Salary of Fresher||₹ 1,83,000||₹ 22 lakhs|
|Highest CMA Salary||₹ 4,58,000||₹ 55 lakhs|
|Average CMA salary in India||₹ 83,000||₹ 10 lakhs|
CMA Salary in India Based on Different Factors-
The salary of CMA is based on various factors like job location, job profile, industry, and experience. Here are how these factors affect the CMA salary-
Based on the Job profile- Every job profile is different and has a different role to play in the company. The CMA salary in India varies according to the job profile. Here is the basic salary for various CMA job profiles-
|Job Role||Average CMA Salary in India|
|Accountant||₹ 3.08 lakhs|
|Cost Management Accountant||₹ 05 Lakhs|
|Financial Analyst||₹ 5.45 Lakhs|
|Senior Financial Analyst||₹ 7.73 Lakhs|
|Finance Manager||₹ 11.22 Lakhs|
|Senior Finance Manager||₹ 20.48 lakhs|
|Chief Financial Officer||₹ 36.33 lakhs|
Based on Job location-
CMA salary in India per month also varies upon the city. It is based on living costs and other factors of the city. Below is the table, mentioning CMA salary in various cities-
|Cities||Salary per annum|
|Mumbai||₹ 2.5-14 Lakhs|
|Delhi||₹ 6.5 lakhs|
|Kolkata||₹ 6-10 lakhs|
|Kerala||₹ 6.5 lakhs|
|Bangalore||₹ 6-9 lakhs|
|Jaipur||₹ 3-6 lakhs|
Based on Industry-
Every industry in India offers a different CMA salary package and growth opportunities. Here are the top paying industries in India-
|Industry||CMA salary in India|
|Oil And Gas||₹19 Lacs|
|Training & Education||₹6.3-8.1 lacs|
|Engineering & Construction||₹7.8-8.5 lacs|
|Clinical research||₹3.9 lacs|
|IT Services||₹10.1 lacs|
|Financial services||₹3.5 lacs|
Annual Packages of Cost Management Accountants in Government Jobs-
CMA are equally demanding in the public or government sector as in the private sector. Here are salary packages offered by government companies for various job profiles-
|Government Companies||Job Profile||CMA Salary in India|
|NAFED||Manager of Accounts||₹ 6.5 lakhs|
|IWAI||CFO||₹ 12 lakhs|
|Regional Centre of Biotech||Senior Accounts Assistant||₹ 8.5 lakhs|
Role of a CMA In India
CMA is responsible to bookkeep the finance that includes expenses and income of the company. They are in demand in public, private, and government industries. The tasks of CMA include decision-making, strategic planning, recording numbers, budgeting, preparing data, and more. They have various roles to play in the company, such as
Cost management- They are responsible to control and manage budget planning and help with business expenses. Their role is to minimize and control expenses to decrease the risk of over-budgeting.
Performance Management- They analyze the financial sector and the company’s market performance to improvise it.
Analyze Profitability- CMA determines specific ratios such as profitability, revenues, expenses, assets, and more to conduct analysis.
Internal Control- They ensure financial accountability and integrity, and avert fraud. Their role is to confirm laws and regulations within the company and thwart employees’ malpractice.
Investment Decision- They take financial decisions and allocated business funds to business opportunities. They go through business proposals that will provide long-term benefits to the company.
Top CMA Companies in India
All firms, big or small, seek CMA. The Top CMA Companies in India includes the Big 4 firms, with some other that also offer good CMA salary in India-
- EY India
- Larsen & Turbo
CA vs. CMA-
CA and CMA, both are accounting-based professions, but CA deals in taxation, accounting, and auditing, whereas CMA deals with accounting and finance management. Their area of focus is strategic management accounting.
CMA is one of the tough exams. Candidates need to prepare for clearing the CMA exam in fewer attempts with good marks and rank to get the best CMA salary in India. Students can get every detail about the course, syllabus, and preparation at CA Wizard, an online portal that helps students prepare for CA and CMA.