This survey was done by the Institute of Management Accountants, so of course the AICPA would encourage you to wait for the CGMA to get a dual certification but if you just can’t wait, then the CMA should work fine.
IMA’s Annual Salary Survey explores salary trends of accounting and finance professionals and reveals that certain industries are faring better than others. Public accounting ranked first in terms of average salary, at $125,488, and second in average total compensation, at $153,395, both in 2010 and 2009. The survey was mailed to respondents last December, and the results have just been released this month.
“The CMAs in this year’s study make a little more than the CPAs,” said Dennis Whitney, senior vice president of certification at the Institute of Certified Management Accountants. “For the younger professionals, it’s a little more per year. The number does seem to go up as you get older, but generally it’s a couple of thousand dollars. But the thing that’s the most dramatic is that people with both the CPA and the CMA fare the best.”
For those with both certifications, the difference can be not only $27,000, but $35,700.
“Dual certification is definitely worthwhile,” said Whitney. “It broadens your competencies. You have not only the financial accounting and auditing skills, but also the financial planning, analysis, and control skills and decision-making, which are very important today.”
Certified Accountants Earn $27,000 More [AT]
Earlier:
The Path to CFO: Is the CMA Credential Just as Important as the CPA?
Imagine that, people are actually happy working for their firm.
But I have complete faith that the tools blogging on Going Concern will find a way to stir the pot and portray their normal schtick.
There’s nothing about happiness discussed here. Just because someone doesn’t want to go through the hassle of changing jobs doesn’t mean they’re happy.
Very true. As it comes to accounting firms, specifically big 4, it is about how unhappy one is with their job. Once the unhappiness hits their threshold; they would look for a change. Not knowing the industry too well, I feel people in this industry have extremely high threshold for unhappiness.
As someone that works at a large Seattle-based firm, I can confidently attest that many of us are very happy with where we are at, and love the firm/colleagues we work with. I’m surprised folks at the Big Four are similarly content though! 🙂