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Chartered management accountant : Salary and conditions

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  1. Job description
  2. Salary and conditions
  3. Entry requirements
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CIMA is the world's largest professional body of management accountants with 183,000 members and students in 168 countries. Management accountancy isn’t just about numbers and spreadsheets. On movie sets, at fashion labels, inside football clubs, that’s where you’ll find the CIMA Chartered Management Accountant. Find out more about CIMA qualifications.

Logo: CIMA - Chartered Institute of Management Accountants
  • Starting salaries vary considerably depending on location, sector and the size of firm.
  • The average salary for recent graduates with the Chartered Institute of Management Accountants (CIMA)  Professional Qualification is £27,464.
  • Salaries increase substantially on passing the relevant examinations. The average salary of a CIMA student whilst studying the Professional Qualification is £30,817 and for a newly qualified chartered management accountant it is £36,195.
  • The average salary for a CIMA-qualified finance professional, irrespective of level of experience or role, is £58,820. (CIMA UK Part Qualified Salary Survey 2010 )
  • Range of typical salaries at senior levels: £63,000 - £100,000 plus.
  • CIMA reports that 32% of members expected to receive a bonus as part of their remuneration package in 2010. The average bonus is £6,447 but can be as high as £14,554 depending on seniority.
  • The highest salaries tend to be found in London, with average earning packages 16% higher than the national average.
  • Industries that offer their staff the largest remuneration packages are retail and fast moving consumer goods (FMCG), information and communication technology (ICT), technology and telecoms and banking, finance and insurance.
  • The average remuneration package for men in this sector is 24% more than females. This could be due to the fact there are more men as CIMA members in the global community as well as more men working in the high level jobs and in larger companies, where the higher salaries are received.
  • Women are currently under-represented in this profession, with women only making up a third of CIMA’s members and just under half are student members. However, women make up an increasing proportion of the new intake and are also beginning to gain more senior positions. CIMA has seen the highest growth rate in female members of all the accounting institutes. See CIMA Women in Leadership , a campaign which highlights the challenges females face and help to overcome the obstacles.
  • Some companies offer excellent packages to cover the cost of studying, including tuition fees and paid study leave, with CIMA reporting that in 69% of cases employers provide their staff with financial contribution to the CIMA membership fees. This can be an important part of the overall package and is worth considering along with salary information to get an overall idea of the benefits.
  • Typical working hours are 9am to 5pm Monday to Friday; however there could be regular extra hours and overtime. Generally working hours do not include weekends or shifts. There are certain times of the month and the financial year where there are tight deadlines e.g. month end and year end when extra working hours may be required.
  • The work is office based but not desk bound, with regular meetings across the organisation.
  • Travel within a working day, absence from home overnight and overseas travel are all occasionally necessary.
  • After gaining several years of experience, self-employment or freelance work in financial or management consultancy is possible.
  • Short-term project work is sometimes available through agencies, but this is more common between jobs than as a career itself. Part-time work is more likely with large employers.
 
AGCAS
Written by Natalie Sermon, University of Wolverhampton
Date: 
March 2011
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