Top 10 CMA jobs In US With Salaries : career guide in 2024
Admin 29 Dec, 2023 Top 10 CMA jobs In US
CMA USA certifications open up new opportunities in a wide range of industries, including banking and financial services, manufacturing, healthcare, insurance, pharmaceuticals and other sectors. The certification is recognized across the globe and is one of the most widely accepted accounting qualifications in the world. The CMA USA certification is issued by the Institute of Management Accountants (IMA) by meeting all the requirements for becoming a Certified Management Accountant (CMA).
The Certified Management Accountant (CMA USA) is a professional certification in Financial Accounting and Management Accounting, granted by the Institute of Management Accountants (IMA) in the United States. It is increasingly recognized as one of the most valued credentials in business today. A CMA not only has an edge in the industry but also has the opportunity to explore careers in different fields such as finance, banking, consulting, management accounting and more.
Here are the various sectors where a CMA can work
1. Accounting & Taxation
2. Finance & Banking
3. Management Consulting
4. Cost Accounting
5. Corporate Planning & Strategy
6. M&A Advisory Services
There are multiple career opportunities available for CMA USA certified professionals.
Top 10 Job Roles With Salaries For CMA In US
- Financial Manager
- Financial Controller
- Chief Financial Officer (CFO)
- Finance Director
- Accounts Manager
- Cost Accountant
- Budget Analyst
- Financial Analyst
- Assistant Financial Controller
- Strategic Planning Manager
Purpose of CMA USA designation
The purpose of the Certified Management Accountant (CMA USA) designation is to provide a general set of competencies or skills that would qualify someone to work as a management accountant or financial manager. These competencies have been developed over time in consultation with industry, academia and employers around the world.
The CMA designation is recognized globally and demonstrates advanced accounting and financial management skills. CMAs are employed across a wide range of industries including manufacturing, banking and finance, government agencies, private business, insurance companies, consulting firms and not-for-profit organizations.
Financial Manager
PayScale reports that the median salary for a financial manager is $109,919 in the United States. The lowest 10 percent earned less than $61,660, and the highest 10 percent earned more than $190,000.
Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. View Cost of Living in Major Cities
Job Description: Responsible for financial planning and analysis; budget development and administration; forecasting needs; monitoring revenues and expenditures; developing financial plans; recommending actions by analyzing and interpreting data and making comparative analyses; improving performance by evaluating process results; identifying trends; determining system improvements and implementing change. Ensures compliance with budgetary reporting requirements and investment policies and procedures.
Financial Controller
The Financial Controller job role is a senior position in any company and is held by someone who has extensive experience in accounting. Their duties include producing financial reports, direct involvement in the budget process, preparation of internal and external audit materials, tax planning and compliance, treasury management and supervising staff.
The financial controller and chief financial officer (CFO) are often interchangeable terms for the senior person in an accounting department. The title also varies according to geographical area: for example, some UK companies use the title finance director for a board-level executive with primary responsibility for the accounting function.
Financial controllers usually work closely with other C-suite executives such as the CEO, COO and CFO of a company. In larger organizations they will have a team of accountants working directly under them. A financial controller's job may involve preparing reports on the business' activity for the management team or board of directors, as well as ad hoc analysis of performance metrics to support their colleagues with day-to-day decision making. The average salary for a Financial Controller is $83,879 per year in the United States.
Finance Director
The Finance Director is the leader of the company's financial operations. They manage the financial planning and analysis teams, which create budgets and forecasts for strategic planning and implementation. They are also responsible for creating investment strategies as well as managing other internal departments including accounting, tax, treasury management and risk management.
The average salary for a Finance Director in the United States is $139,742 per year. The median salary is $128,000 per year. The lowest 10% make less than $81,000 annually and the highest 10% make more than $232,000 annually.
In terms of compensation (salary plus bonuses), the average total compensation is $167,000 per year while the median total compensation is $155,000 per year. The lowest 10% make less than $102,000 in total compensation while the highest 10% make more than $281,000 in total compensation.
Account Manager
In this role, you will report directly to the VP of Sales and be responsible for responding to leads via phone and email, giving product demos, negotiating contracts (when necessary), and managing client relationships. You will work closely with internal teams to ensure that client needs are met. Account managers are employed in sales-related roles by companies who want to keep their existing customers satisfied and engaged.
If you work in account management, you are the point of contact for a client, ensuring that your company continues to supply goods or services that benefit their business. You'll also be responsible for building customer relationships and liaising with other departments.
The average salary for an Account Manager is $46,856 per year in the United States. When factoring in bonuses and additional compensation, an Account Manager can expect to make an average total pay of $47,600.
Cost Accountant
Cost accounting is a form of managerial accounting that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment.
Cost accountants are also charged with aiding managers in the decision-making process through their findings, in addition to preparing internal financial statements, analyzing and monitoring costs and profitability and preparing reports for management. The average Cost Accountant's salary is $58,400.
Budget Analyst
A budget analyst is a financial planner who prepares an organization's budget. A budget analyst ensures that the organization operates within the parameters of the budget. The level of education and experience required for budget analysts varies by the size of the company and the complexity of its finances.
Budget analysts usually have at least a bachelor's degree in accounting, business administration or related field. Some organizations require more than a bachelor's degree, however. Government agencies, for example, often prefer applicants who have a master's degree in public administration or business administration with a concentration in finance.
The U.S. Bureau of Labor Statistics (BLS) indicated that budget analysts earned a median wage of $75,240 per year (www.bls.gov). The lowest 10 percent of earners made less than $43,050, while the top 10 percent made more than $116,840 per year
Financial Analyst
Financial analysts are responsible for making sense of financial data and using it to help their companies make investment decisions. Financial analysts work to forecast the financial implications of certain business decisions, such as whether or not to expand operations or invest in new products. They cover a wide array of topics, including company stocks and bonds, industries, commodities and interest rates. In addition to helping their clients make investment decisions, financial analysts also advise clients on managing their portfolios. The starting salary for a Financial Analyst in the United States is $60,000.
Assistant Financial Controller
Assistant Financial Controller is responsible for maintaining the day-to-day financial operations within the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing monitoring and reporting of organizational progress.
The position will also be responsible for performing a variety of accounting tasks, including analyzing and reconciling accounts, preparing and inputting journal entries, maintaining account ledgers and creating periodic financial reports. The Assistant Financial Controller will also work closely with our management team in order to develop new business opportunities for the company.
This position will have direct interaction with all levels of management in operations, sales and marketing. The lowest 10 percent earned less than $43,650, and the highest 10 percent earned more than $122,840.
Strategic Planning Manager
Strategic Planning Managers manage the strategic planning process within the company and stay up-to-date on its external environment. They identify emerging issues that could impact the company and develop strategies to address them. They also monitor strategic initiatives and present their findings to senior management.
According to Salary.com, the average annual salary for a Strategic Planning Manager in the US is $107,981, based on 1,197 salaries provided by employees and users.
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FAQs
1. How much does a CMA earn in the USA?
In the US, Certified Management Accountants (CMAs) earn an average of $82,636 per year. The range for CMA salaries is $50k to $125k. The median salary is $70,000.2. Which country pays the highest salary for US CMA?
If you have a US CMA certification and are looking for better job opportunities, it is important to know which country pays the highest salary for this qualification.There are countries that pay higher salaries than others. While Canada, Australia, UK and UAE top the list.
3. Which job is best after CMA?
The answer is this is a very good qualification. After this you can go for jobs like Finance Manager / Cost Accountant / Finance Controller / Finance Advisor / Internal Auditor and in many other finance related jobs. I have seen so many people who have done the CMA and were very successful in their life.The best part is that this is an international qualification so you can work anywhere around the world. So don't worry about the scope of it. Go for it there are very less chances that you will not get any jobs after your CMA. Join NSA�s CMA course today and make your life better!
Conclusion
So a Certified Management Accountant or CMA USA designation has a lot of career options available to them, with salaries to match. From accounting to finance, and from business management to consulting, someone with a CMA USA on their resume is always in demand, with roles such as Management Accountant and Financial Analyst being among the highest paying jobs for those holding this unique designation.
CMA USA is not just a certification, it is a journey. It is the journey of learning and understanding financial statements and positioning yourself as an entrepreneur with fresh knowledge of finance. We at NorthStar Academy help you in your journey by optimizing your time and emphasizing on practicality to build your accounting skills.