What is CMA Salary in India


In recent years, the Cost Management Accountant (CMA) designation has gained significant popularity among students in India, driven by the allure of a promising career and attractive salaries. This blog explores the CMA salary landscape in India, covering various aspects such as average salaries, trends, and comparisons with international standards.

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Cost and management accountants play a crucial role in organizations by managing financial aspects, cost control, and strategic planning. The salary of CMAs in India is influenced by factors such as job profile, industry, location, and experience. Let’s delve into the details.

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Average Salary of CMA in India

The average CMA salary in India stands at Rs. 10 lakhs per annum, with variations depending on factors like experience and specialization. Starting salaries range from Rs. 6.5 lakhs per annum, while the highest salaries for experienced CMAs can reach up to Rs. 55 lakhs annually.

Salary Ranges for Different Job Profiles in CMA

Job Role Average CMA Salary
Financial Analyst ₹5.45 Lacs
Senior Financial Analyst ₹7.73 Lacs
Finance Manager ₹11.22 Lacs
Senior Finance Manager ₹20.48 Lacs
Chief Financial Officer ₹36.33 Lacs
Accountant ₹3.08 Lacs
Cost Management Accountant ₹05 Lacs

Average Salary of CMA Abroad

CMA professionals working abroad are well-compensated, with an average annual salary of $85,000. Experienced CMAs in managerial roles can earn up to $125,000. The USA is a lucrative market for CMAs, offering desirable salary packages and opportunities for career progression.

Salary Trends Across Different Industries for CMAs

Salaries for CMAs in India vary across industries. Here’s a glimpse of CMA salaries in some key sectors:

Industry CMA Salary
Oil & Gas ₹ 19 Lakhs
Engineering/Construction ₹ 7.8-8.5 Lakhs
Education & Training ₹ 6.3-8.1 Lakhs
IT Services & Consulting ₹ 10.1 Lakhs

Average CMA Packages in Various Countries

The CMA’s workplace significantly impacts their salary, with variations across countries. Here’s a look at the average CMA salaries in different nations:

Country CMA Average Salary
USA USD $109,119
Dubai USD $111,000
Canada USD $100,000
Asian countries USD $40,354

CMA Salaries Across Different Cities in India

The location of employment is a key determinant of CMA salaries in India. Here are the salary ranges for various cities:

Indian Cities Salary Per Annum
Mumbai ₹2.5-14 Lacs
Kolkata ₹6-10 Lacs
Bangalore ₹6-9 Lacs
Delhi ₹6.5 Lacs

Annual CMA Packages in Government Positions

Government entities also offer opportunities for CMAs, with competitive salaries in various roles:

Government Companies Job Profile CMA Salary
NAFED Manager of Accounts ₹6.5 Lakhs
Regional Centre for Biotech Senior Accounts Assistant ₹8.5 Lakhs
IWAI CFO ₹12 Lakhs

Average CMA Salaries in Top Private Companies in India

Top private companies recognize the value of CMAs, offering competitive annual salaries:

Private Companies Job Profile CMA Salary
Hyundai Steels Senior Cost Accountant ₹8.5 Lakhs
Malabar Gold & Diamonds Costing Manager ₹6 Lakhs
Kanodia Global Cost Accountant ₹7 Lakhs

Leading Companies Offering CMA Positions in India

Several prominent companies actively recruit CMAs in India, including:

  • Deloitte
  • EY India
  • PwC
  • KPMG
  • Amazon
  • HPE
  • Accenture
  • Larsen & Toubro
  • Wipro
  • Cyrex

Frequently Asked Questions (FAQs)

For a CMA with 4 to 9 years of experience, the average annual salary is 21.8 lakhs.

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The CMA salary landscape in India offers promising prospects for individuals pursuing a career in cost and management accounting. With competitive salaries, diverse career paths, and increasing demand globally, becoming a CMA can be a rewarding professional choice. Consider factors like experience, industry, and location to make informed decisions on your career path.

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