What is the CMA salary in New Zealand? A salary Overview of CMA in New Zealand

Admin 29 Dec, 20239.1k

CMA salary in New Zealand

The US Certified Management Accountant, or US CMA, is one of the most preferred certifications in Management Accounting across the globe. A Certified Management Accountant integrates management and strategic planning with conventional financial accounting. They analyze the data, create project plans, and advise people and businesses to maximize the possible economic profit. Due to the expansion of the accounting sector, the need for Certified Management Accountants (CMA) is increasing worldwide.

This article will focus on CMA USA opportunities for New Zealand US CMA professionals. New Zealand has many options, as many companies are looking for professionals with CMA USA certification. But before moving further with the CMA job opportunities and salary in New Zealand, let us look at an overview of Certified Management Accountants (CMA).

Overview of CMA USA

The Institute of Management Accountants (IMA) is the official organization responsible for administering the CMA USA certification. US CMA is a professional qualification that vouches for your skills to work in management and financial accounting. People with CMA USA qualifications are considered experts in strategic management, financial planning, ethics, analysis, and other fields.

Exam Structure - Registration for the CMA USA exam is done three times a year. The test has been simplified and divided into two halves.

Part I: Financial Planning, Performance, and Analytics
Part II: Strategic Financial Management

The CMA USA exam is entirely computer-based. Each exam part lasts four hours and consists of 100 multiple-choice questions and two thirty-minute essay questions. To pass the exam, candidates must score 360 or above marks out of 500 in each exam part. Every year, the testing window opens in January, May, and October. Candidates can book time slots and take the exam when it is convenient for them.

Eligibility Criteria - Candidates must meet specific exam criteria to gain this high-level certificate.

Candidates should have an IMA membership
Hold a bachelor's degree in accounting, economics, finance, or management from a recognized university.
Have two years of managerial accounting or financial accounting experience.

Role of US CMAs in the Accounting Sector

A professional management accountant primarily keeps track of the business's costs and profits. Following are their primary work responsibilities:

US CMAs are crucial in budget management. They anticipate expenses in advance to lessen the possibility that businesses would go over budget.
They create yearly reports, financial statements, balance sheets, income statements, and statements of cash flows for the stakeholders.
They do financial and profit analysis, breaking down the profit into assets, revenues, equity, and costs.
US CMAs are highly appreciated in many sectors because of their commercial and management skills, enabling them to manage projects and teams. Any organization introducing several substantial initiatives requires US CMAs since they are equipped to make high-level business decisions.
CMAs are qualified for managerial roles in every type of company, including Fortune 500 companies and non-profit organizations. They can be differentiated from non-certified accountants since they are highly trained. They are, therefore, most suitable for management or auditing posts.

CMA US Job Prospects in New Zealand

Because the CMA US certification focuses on Managerial Accounting and Financial Accounting for Big Corporations, opportunities for US CMAs in New Zealand primarily concentrate on the company's management department. The top companies in New Zealand for CMA US jobs are all the Big4s ( KPMG, Ernst & Young, Deloitte, and PriceWaterhouseCoopers) and Fonterra, BDO, Thornton, RSM, etc.

Let us walk you through all the possible CMA opportunities with the CMA salary in New Zealand:

Finance Analyst - CMAs are in charge of creating and maintaining the financial reports for the company in their role as financial analysts. The Financial Analyst thoroughly examines these data and outcomes in order to determine the best method to increase the company's production. A financial analyst with the CMA (IMA) qualification earns an average income of about $67,410.

Financial Controller - Financial Controller is a critical function in any organization and is in charge of all financial aspects. Depending on the organization, a financial controller's duties might vary considerably, but they typically involve carrying out administrative tasks, conducting internal analyses and reviews, developing financial plans, and examining financial reports. In New Zealand, a corporate controller or finance controller makes an average pay of $100,363.

Finance Manager - As a Finance Manager, you must interact with clients and higher management. So, to perform your duties as a financial manager effectively, you must have communication skills as excellent as your technical talents. You will be in charge of making all major and minor operational decisions for the business and budgeting, forecasting, and other related tasks. CMAs salary in New Zealand as a Finance Manager can range from $65,000 to $110k.

Chief Financial Officer - The position of Chief Financial Officer, or CFO, is the highest in a company's financial hierarchy. The CFO keeps track of all financial transactions and takes appropriate action. The job has a significant influence on the company. For every trained management accountant, it is the ideal employment position. CFO salaries in New Zealand are among the highest in the industry, with an average of $144,271 a year.

US CMA Salary in New Zealand

As the demand for CMAs is increasing daily, It has reached every country and is gaining value rapidly. The New Zealand government is actively promoting qualified CMAs to work in the country. Due to the rising demand for analysts who can comprehend and analyze financial data to help firms make business decisions, there will likely be an increase in the market for accountants. There are so many reasons to gain CMA certifications in New Zealand, one of which is the pay scale of CMA in New Zealand. CMAs always have a better earning potential than non-CMAs since they specialize and get high-level managerial abilities. Compared to non-CMAs, CMAs' average compensation is approx 65% higher.

Fresher CMA Salary in New Zealand - CMAs are highly competent, which is why they have such a high pay range and so many CMA USA employment possibilities in New Zealand. Even the freshers who have earned their CMA certification are highly regarded and considered assets by their employers. CMA Salary in New Zealand varies depending on their interviews and the company they are hired by. Freshers' salaries in New Zealand can be between 50,000 and 60,000 USD per year.

Experienced CMA Salary in New Zealand - In New Zealand, the average annual wage for an experienced CMA is around 111,814 New Zealand dollars. A Certified Management Accountant in New Zealand may make around 53.76 $ per hour. The CMA salary in New Zealand ranges from 78,146 $ to 138,889 $. The average salary for a Senior Certified Management Accountant with ten to twenty years of experience is expected to be roughly NZ$95,000 per year. Management accountants with more than 20 years of experience might make over $100,000 in New Zealand dollars.

Factors Affecting US CMA Salary in New Zealand

If we discuss this in terms of numbers, the average salary for an experienced Certified Management Accountant is about $60,000. A Certified Management Accountant receives 63% of his salary from his profits. However, there are other factors that affect the salary of a CMA are given below:

The age of CMA
Initial work experience
Education level
And the industry they work in

CMA careers are popular among young students who are interested in accounting and finance. The remuneration package given by CMA employers is among the best in the world. CMA careers are rewarding, and the salary is competitive. CMA salary ranges differ according to an individual's professional position. CMA compensation levels vary depending on the company and industry. However, there is a basic range that one may anticipate earning.

Future of CMA in New Zealand

CMA is the fastest-growing program, offering applicants a diverse range of professional options. As the number of CMA USA employment prospects in New Zealand grows, so does the economy. According to statistics, more than 70% of CMAs in New Zealand are employed at senior management levels. The majority of people in New Zealand are pleased with their careers after earning the CMA USA certification. Let's take a look at some additional information regarding jobs for US CMA in New Zealand:

According to 84% of students, the CMA USA credential has "fairly boosted" their capacity to perform in various business sectors.
More than 80% - 81% of the students believe that the CMA certification has opened up a broad range of work opportunities not just in New Zealand but throughout the entire world.
74% of those working in management organizations are content with their salaries and style of life.

FAQs (Frequently Asked Questions)

1.What is the lowest salary for a CMA in New Zealand?

The average CMA salary in New Zealand is $133,401, which equates to $64 per hour. Additionally, they can also receive a $6,617 bonus on average. The average compensation for a fresher Certified Management Accountant (CMA) with 1-3 years of experience is $93,311.

2.In New Zealand, what is the highest salary for Certified Management Accountants (CMA)?

According to the Institute of Management Accountants (IMA) 2018, CMAs earn 47% more than professionals without the CMA or CPA. The typical salary for a senior management accountant with ten to twenty years of experience is estimated to be approximately NZ$95,000, whereas the average salary for a mid-career management accountant with four to nine years of experience is around NZ$78,000. Management accountants with more than 20 years of experience might make over $100,000 in New Zealand dollars.

3.What kind of companies hire CMA USA in New Zealand?

Accounting is the backbone of every industry and corporation. Thus, to keep up with globalization, a professional accounting degree such as the US CMA has emerged as a top chosen career option among students with a commerce background. CMA USA personnel are hired by major MNCs, top Indian businesses, and even the Big Four accounting firms. Among many, some of the Big 4 and other firms that recruit CMA US candidates are listed below as examples.

Deloitte, PWC, KPMG, EY, Accenture, Infosys, Cognizant, Amazon, Morgan Stanley, HP, Barclays, Max Life, Genpact, etc.

4.Which job is better after CMA?

This Certification course can open the door to many job prospects in the commercial world. It will help you improve your financial, accounting, and management abilities, expand your job opportunities and help you stand out from the crowd. After CMA, you can work as a Finance Manager, Cost Accountant, Finance Controller, Finance Advisor, Internal Auditor, or in various other finance-related positions. Because this is an international qualification, you can work anywhere globally.

5.Which country gives the highest compensation to CMA USA?

The salaries paid to CMAs vary across the world. A CMA professional earns the highest salary in the United States of America. With sufficient expertise, any CMA can make up to 125,000 USD annually. In the United States, the average pay is roughly 80,000 dollars. In the United States, the average total compensation or CMA wage includes the cost of housing, transportation, and other perks.

Conclusion

Because the US CMA is the most sought-after certification in the subject of Management Accounting, job opportunities for a CMA are constantly favourable. CMA opportunities in New Zealand are endless, and because of the great demand, the CMA salary in New Zealand is also attractive.

If you need help getting CMA USA certification and one of the top CMA jobs, you may follow in the footsteps of many other successful people and choose the best CMA USA course. One such institution is NorthStar Academy (NSA).

Our CMA course is a well-organized and great option for CMA USA test preparation. NorthStar Academy also offers demo classes for potential students, allowing you to evaluate our courses' effectiveness. We have some of India's most incredible mentors, such as M Irfat Sir, to assist students along the right path, making the CMA USA program an all-around help. NorthStar Academy also provides applicants with Section-wise Formula resources and Essay Case Study materials. NorthStar Academy also provides applicants with Section-wise Formula resources and Essay Case Study materials.

If you have any questions about the course, please get in touch with us at +91 8147470707; we will be pleased to answer your questions and give the best consultation.