CMA (ICWA) Salary in India

The aim of the Institute of Cost Accountants of India is to meet the rising global demand for quality cost management by building on and regulating Cost Accountancy in India. ICWA opens up a world of opportunities for aspirants in fields like management and consultancy.

To Become a professional CMA, you should complete the 3 levels of CMA course.

1. CMA Foundation

2.CMA Intermediate

3.Final

The article here is aimed at providing you with the list of salaries in store for individuals with CMA certification, with variations based on the field of work or industry, work experience, skills and so on. Read this article carefully you will get the complete details of the salary of CA and CMA profession in India.

Eligibility for CMA

Documents need for CMA certification:

  • Membership of IMA
  • Two years of relevant experience
  • Passed both the parts of CMA Exams
  • A Bachelor’s degree from an accredited university

The candidate can appear for the exam in the following months

  • January and February
  • May and June
  • September and October

 

Read Also: Avoid These Mistakes during CA CS CMA Exam

 

CMA Salary by Job
Job Average Salaries(Per Annum)
Chief Financial Officer ₹ 1,795,997 – ₹ 6,853,512
Cost Accountant ₹ 118,149 – ₹ 800,000
Internal Auditor ₹ 150,000 – ₹ 987,342
Finance Manager ₹ 563,739 – ₹ 1,534,429
Assistant Finance Manager ₹ 293,433 – ₹ 875,857
Salary of CMA by Industry

The trends in pay reflect major variations with differences in the types of industry that individuals with a CMA certification are working for. While your skills will influence your choice of industry in a major way, it is advisable to make your choice a little flexible and at least explore your chances in one or two industries which are not really your first choices. Here is a list of remunerations offered in leading industries:

Industry Average Salaries(Per Annum)
Banking ₹ 530,000
Information Technology or IT ₹ 1,017,369
Consultancy ₹ 712,244
Manufacturing and Distribution ₹ 884,695
Telecommunications ₹ 1,300,000
BPO or Business Process Outsourcing ₹ 498,453
Financial Services ₹ 400,000

 

Read Also: Chartered Accountant Salary as per Industry in India.

 

CMA Salary Based on Degrees

Your academic qualification will determine the way your pay structure will be designed. However try to find out what kind of influence your degree will wield on hikes, benefits, and other perks. Here is a glimpse of the average salaries fetched by different degrees earned by individuals:

Degree Average Salaries(Per Annum)
Master of Business Administration or MBA ₹ 121,084 – ₹ 2,936,142
Bachelor’s Degree ₹ 236,818 – ₹ 2,421,565
Bachelor of Commerce, Commerce Economics ₹ 210,000 – ₹ 3,000,000
Master of Commerce or MCom ₹ 587,000 – ₹ 1,600,000
MBA or Master of Business Administration, Accounting, Finance ₹ 450,000 – ₹ 1,650,000
Bachelor of Commerce ₹ 124,516 – ₹ 1,610,731
Bachelor of Commerce, Accounting and Finance ₹ 292,332 – ₹ 2,153,676
Bachelor of Commerce/BCom, Finance ₹ 243,000 – ₹ 2,200,000
MBA or Master of Business Administration, Finance ₹ 98,920 – ₹ 5,526,606
Salary of CMA based on Skills
Skills Average Salaries(Per Annum)
Accounting ₹ 828,012
Microsoft Excel ₹ 534,952
Account Management ₹ 489,796
Financial Reporting ₹ 900,000
Financial Analysis ₹ 710,000
Microsoft Office ₹ 554,811
Microsoft Word ₹ 460,000
Accounts Payable ₹ 614,627
Senior Financial Management ₹ 2,195,455
Salary of ICWA by Experience

The list of salary variations drawn on the basis of experience in respective fields can help you compare your current pay with that mentioned here as well:

Experience Average Salaries(Per Annum)
Less than a year ₹ 291,632
1-4 years ₹ 422,151
5-9 years ₹ 732,025
10-19 years ₹ 1,149,211
20 years and more ₹ 2,904,452
CMA Salary by Cities

The costs of living in different cities play a crucial role in the preparation of pay structures of ICWA in India. Here is more:

Cities Average Salaries(Per Annum)
Hyderabad, Andhra Pradesh ₹ 530,000
Bengaluru, Karnataka ₹ 915,615
Pune, Maharashtra ₹ 515,000
Mumbai, Maharashtra ₹ 813,892
Gurgaon, Haryana ₹ 1,099,420
Chennai, Tamil Nadu ₹ 780,000

*Salaries are subject to change without notice.

Source http://www.naukrihub.com/salary-in-india/icwa-salary.html
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