CMA Salary in India for freshers and experienced.

In recent years, CMA has grown its popularity among 12th-grade students. The primary reason is the CMA's high salary. In India, the average CMA salary offered in the ICMAI campus placement is Rs 13 lakhs annually. This year has also seen a 30% increase in the packages available to newer CMAs.

A Cost and Management Accountant's salary is determined by various factors, including their job description, location, level of expertise, and the industry in which they work. You can earn up to Rs. 15-20 lakhs per year if you have additional degrees such as CA or CFA.

In this article, we will be concentrating on CMA salaries for freshers and experienced, their roles and responsibilities and what are the different factors on which CMA Salary depends, and how much they can earn Abroad and in India 

What are the roles and responsibilities of CMA? 

The Cost and Management Accountant (CMA) is important for the financial management of a company. A CMA's roles and responsibilities in a company include the following:

• Conduct financial analysis and prepare reports to provide insight into the financial performance of the company.
• Create and manage the company's budget, as well as forecast financial performance.
• Identify cost-cutting opportunities, put cost-cutting measures in place, and optimise resource utilisation.
• Evaluate the financial risks to the company and implement strategies to reduce them.
• Provide financial analysis and advice to help management make decisions.
• Maintain accurate financial records and prepare financial reports in accordance with GAAP to ensure the company complies with financial regulations and accounting standards.
  
  

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CMA Monthly Salary In India 

Minimum Salary Package of a CMA Fresher In India.

The minimum salary package for a CMA as a fresher in India can vary depending on a number of factors, including the job's location and the size of the company. In general, the starting salary for a CMA fresher in India can range between Rs. 4-5 lakhs per year, with some companies paying even more. However, this can vary depending on the industry and the financial performance of the company.

It is important to note that a CMA's salary can rise significantly with experience and expertise. As a result, it's important to prioritise gaining relevant skills and experience in order to increase your earning potential.

CMA Salary in India is based on different factors.

CMA’s salary in India depends on various factors like different job roles, experiences, locations and different industries. So, let's dissect each factor to know better.

The CMA Salary in various Job Roles 

CMA Salary in Different Cities in India 

Based on data from various salary websites and job portals, the following is an approximate salary range for CMA’s in various cities in India:

• Delhi/NCR: Rs. 4.5 lakhs to Rs. 10 lakhs per annum
• Mumbai: Rs. 5 lakhs to Rs. 12 lakhs per annum
• Bengaluru: Rs. 4 lakhs to Rs. 9 lakhs per annum
• Chennai: Rs. 3.5 lakhs to Rs. 8 lakhs per annum
• Kolkata: Rs. 3 lakhs to Rs. 7 lakhs per annum
• Hyderabad: Rs. 3.5 lakhs to Rs. 8 lakhs per annum
• Pune: Rs. 3.5 lakhs to Rs. 8 lakhs per annum
• Ahmedabad: Rs. 3 lakhs to Rs. 6.5 lakhs per annum

Different industries in which CMA can work 

• Manufacturing Industry: CMA’s are in high demand in the manufacturing industry. This is due to the large number of production processes in the manufacturing industry, and cost management is essential for maintaining profitability. In manufacturing companies, an Entry Level CMA with less than three years of experience earns an average salary of 3.4 Lakhs per year. In Manufacturing, a mid-career CMA with 4-9 years of experience earns an average salary of 21.5 lakhs per year.
  
  
• Banking and finance: CMAs can manage financial operations, analyse risks, and develop investment strategies in banks and other financial institutions. The average salary of the CMA in the banking and finance sector is 3.5 lakhs and with experience can be raised to 8 lakhs 
  
  
• FMCG Companies: CMAs can play an important role in FMCG companies by providing financial insights and assisting with cost, performance, and risk management. An entry-level CMA earns an annual salary of 3 lakhs. A CMA with more than three years of experience can earn up to 8.2 lakhs in FMCG companies.
  
  
• Consulting firms: As a CMA, you can work as a consultant, providing financial advice and guidance to businesses and individuals. The typical starting salary for a CMA in a consulting firm is around 6.3 lakhs per year. In India, the average annual salary for a CMA ranges from 6.3 Lakhs to 8.1 Lakhs.
  
  
• Retail: To ensure profitability, retail businesses require effective financial management, and CMAs can assist in managing finances, analysing sales trends, and optimising inventory management. The average starting salary for a CMA in retail is around 2.5 Lakhs per year, and the highest salary that a CMA can earn in retail is 6.3 Lakhs per year.
  
  
• Oil/gas: a CMA can assist in financial planning and analysis, cost management, and financial reporting for oil/gas companies. The average starting salary for a CMA in an oil and gas company is around 16.2 lakhs per year, and the highest salary that a CMA can earn in an oil and gas company is 23.0 lakhs per year 

Please note that the salary estimates are based on the various salary websites and the salaries offered to our past students.

See this video to know more: 

Top and highly paying companies hiring CMA in India.

• Deloitte India: The annual salary for a CMA at Deloitte India is approximately Rs. 14 lakhs.
• KPMG India: The annual salary for a CMA at KPMG India is approximately Rs. 12 lakhs.
• EY India: The annual salary for a CMA at EY India is approximately Rs. 12 lakhs
• PwC India. At PwC India, the average salary for a CMA is around Rs. 11 lakhs per year.
• Accenture India: The annual salary for a CMA at Accenture India is approximately Rs. 10 lakhs.

And some other companies that hire CMA are 

• Amazon 
• Larsen & turbo 
• Wipro And many more.

Please keep in mind that salaries can differ depending on job title, location, years of experience, and other factors. These are just a few of the companies in India that have a reputation for paying CMAs well.

CMA Salary Based On Experience.

Average CMA Salary In Private Companies 

CMA Annual Package Of Government Jobs 

Average CMA Salary In Other Countries.

Companies That Came In CMA Campus Placement 2022

Here is the list of companies that were a part of the CMA campus placement 2022:

• Indian Oil Corporation
• Tata Motors
• Accenture
• CEAT Ltd.
• CAPITA India Pvt. Ltd.
• Dupont
• ICICI Bank
• Tata Motors
• GAIL Limited
• Invenio Solutions

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FAQ

 Q: What exactly is CMA?

A: CMA is an abbreviation for Cost and Management Accountant, a professional designation granted by the ICMAI.

Q: How much does a CMA earn in India?

A: The average annual salary for a CMA in India is around Rs. 7-8 lakhs, but it can go up to Rs. 20-25 lakhs for those with more experience and working in senior positions.

Q: Which industries in India pay the highest CMA salaries?

A: Banking and financial services, information technology, and manufacturing typically pay the highest CMA salaries in India.

Q: What are the career opportunities for a CMA in India?

A: A CMA's career growth potential in India is high, and CMAs can expect to advance quickly in their careers. They can begin as junior accountants and advance to positions such as senior executives, finance managers, and even CFOs.

Q: How does one become a CMA in India?

A: To become a CMA in India, one must complete the ICAI's CMA course. The course is divided into three levels: Foundation, Intermediate, and Advanced. After completing the CMA Inter, students must complete 15 months of practical training before taking final exams and receiving their degree.

Q: How popular are CMAs in India?

A: There is a high demand for CMAs in India is rapidly increasing as businesses recognise the importance of cost management and profitability. CMAs are in high demand in a variety of industries, including banking and financial services, manufacturing, information technology, and consulting.