IMA’s 2019 Global Salary Survey revealed some great news for holders of the CMA® (Certified Management Accountant), both globally and in Europe. In Europe, CMAs earn 40% more than their noncertified peers. In terms of median total compensation, CMAs in Europe earn 47% more than their non-CMA peers.

Globally, the survey obtained responses from more than 5,200 IMA members. It found that the CMA empowers finance professionals as the Digital Age makes its way into accounting and finance. For example, 72% of respondents agree the CMA strengthens their job security and 78% agree that the CMA strengthens their ability to move across all areas of the business. Further, more than 76% agree that certification provides additional career opportunities.

“The CMA has long provided a way for individuals to hone their management accounting skill set to create value for their organizations, which in turn enables greater career and earning potential,” said Kip Krumwiede, CMA, CPA, Ph.D., IMA director of research. “We’re particularly encouraged this year to see that CMAs feel the credential is strengthening their job security, especially as the age of AI and machine learning is beginning to have an impact in finance.”

Gender Pay Gap in Europe

The “salary gap” – that is, the percentage of women’s compensation in proportion to men’s compensation – continued to improve this year. In Europe, the results are especially promising: For women aged 40 to 49 in Europe, in fact, women have higher median total compensation than men. Globally, the global gender pay gap for respondents in their 20s improved significantly this year, with women’s median base salary exceeding their male counterparts by 25%.

“After years of slowly shrinking the gender wage gap, we’re happy to see the overall improvement in the global 20-29 age group,” Krumwiede said. “Of course, this global report combines many different countries with very different gender pay gaps, so we must be careful not to celebrate the end of the pay gap. However, the most recent year is a good indicator of women’s continued upward mobility in the workplace. This marks the third year in a row we have seen the global gender wage gap shrink.”

IMA’s Global Salary Survey, authored by Shannon Charles, CPA, is the cover story of this month’s edition of Strategic Finance, IMA’s award-winning flagship publication. The global data is available on IMA’s website where additional regional reports are forthcoming.