Report Cites Benefits of Certifications for Long-term Salary Growth
Average total compensation rose for IMA® (Institute of Management Accountants) members in 2011, according to the association's 2011 Annual Salary Survey, which appears in this month's edition of Strategic Finance magazine. While the average salary of members dropped incrementally (0.2 percent), a rise in total compensation (0.9 percent), driven by salary increases such as bonuses, indicates a positive sign for the accounting profession. IMA is one of the largest and most respected associations focused exclusively on the advancement of the management accounting profession.
"Certification helps organizations ensure they have highly qualified talent, and provides accountants with greater career options and earning potential."
The average reported salary of members surveyed was $109,001 in 2011, down slightly from $109,265 in 2010. The average total compensation (including base pay and other incentives) rose to $129,591 in 2011, up from $128,486 in 2010.
Consistent with prior years, the survey reveals that holding one or more professional certifications, such as the CMA® or the CPA, has a positive impact on earning power. The average total compensation for those with certification is $139,338, which is $33,411 (32 percent) more than for those without certification ($105,927). Certification especially impacted younger professionals in the 19- to 29-year-old age group, who earned $15,696 more in salary and $20,612 more in total compensation than their noncertified peers.
"Now more than ever, properly trained and certified accounting professionals working in business are in demand, and the findings of IMA's Salary Survey prove it," said Jeff Thomson, CMA, IMA president and CEO. "Certification helps organizations ensure they have highly qualified talent, and provides accountants with greater career options and earning potential."
IMA's Annual Salary Survey contains a wealth of data segmented by compensation and degrees, organization structure, industry, household income, geography, and management level. The survey was mailed to a random sample of 5,122 IMA members in the U.S. in early December 2011.
To access the survey, visit: http://bit.ly/JJe3iP.
About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 60,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imamiddleeast.org.
For more information on the press activities, contact:
Shenoy
ekadaa PR
Dubai, UAE
Tel: +9714-3912100
Fax: +9714-390 4740
Email: shenoy@ekadaa.com
© Press Release 2012
