Management Accountant Salary Guide: Pay Scale, Earnings, and Average Salaries Explained

How much does a professional who helps boost a company’s profits earn? Now, that is a million-dollar question! Management accountants play a critical role in enhancing an organisation’s finances. They work on data-driven insights, budgeting, cost management, financial analysis and strategic plans that impact business decisions. They also analyse external factors, manage risks and recommend methods to increase productivity.Well, good news. This line of work pays well. The average management accountant salary is… wait, hold on. Before we make the big reveal, you must consider some essential points. While, yes, management accounting is a lucrative profession boasting high earning power, the exact numbers vary due to specific factors such as the job profile, company type, industry, location, qualifications, and experience level.

That is a lot of responsibility on their shoulders. It’s only fair that a professional of this calibre is compensated handsomely. After all, their expertise is valued in almost every company across multiple industries.

It is best to investigate these details further to better understand a management accountant’s pay.

Also Read- Who is a Management Accountant? Job Description and Career Opportunities Explained

The Management Accountant Salary Guide

What is the average salary of a management accountant in India? The answer is a bit more complex. Management accountants move through various roles as they gain experience. Their responsibilities increase over time and lead to more attractive salaries. So, let’s break down the average management accounting salary according to job role and experience level.

1. Entry-Level Positions (0 to 3 years)

Job titles: Junior Management Accountant, Junior Cost Accountant, Financial Analyst, Budget Analyst, Internal Auditor

Main responsibilities:

• Helping senior professionals with:
  • creating budgets and financial reports
  • cost analysis and variance analysis
  • internal audits and compliance laws
  • financial statement analysis.

Average Management Accountant Salary: Rs 4 lakhs to Rs 9 lakhs a year

2. Mid-Level Positions (3 to 7 years)

Job titles: Management Accountant, Senior Cost Accountant, Business Controller, Financial Planning & Analysis Manager (FP&A), Internal Audit Manager

Main responsibilities:

• Supporting decision-making through financial analysis
• Working on budgeting and forecasting
• Creating reports for senior leaders
• Developing cost-saving measures
• Improving business efficiency

Average Management Accountant Salary: Rs 12 lakhs to Rs 20 lakhs a year

3. Senior-Level Positions (10+ Years of Experience)

Job titles: Senior Management Accountant, Financial Controller, Cost Accounting Manager, Finance Manager

Main responsibilities:

• Supervise important areas such as budgeting, forecasting and financial planning.
• Creating financial strategies and managing risks.
• Overseeing internal audits and ensuring compliance.
• Acting as a team leader or department head.

Average Management Accountant Salary: Rs 20 lakhs to Rs 35 lakhs a year

4. Upper Management Level (15+ years)

Job titles: Finance Director, Vice President (Finance), Head of Management Accounting, Chief Financial Officer, Chief Executive Officer.

Main responsibilities:

• Overseeing the team that works in financial strategy and business planning
• Approving and assessing all budgets and investments.
• Spearheading measures that lead to long-term profitability.
• Makes the final call on all financial decisions.

Average Management Accountant Salary: Rs 40 lakhs to Rs 1 crore+ a year

Also Read- Roles and Responsibilities of a Management Accountant: What Does a Management Accountant Do?

Location-specific management accounting salary

The city you live in can affect your salary as a management accounting professional. Companies in metros like Mumbai and Delhi will pay more than cities like Nagpur or Kochi. The cost of living is higher in the bigger cities, so salaries reflect this. Bigger cities will also have MNCs and larger corporations who can afford to pay more. However, here is a list of the approximate average salary of management accountants in some of the cities in India.

LOCATION	ENTRY-LEVEL SALARY	MID-LEVEL SALARY	SENIOR-LEVEL SALARY
MUMBAI	Rs 4 lakhs to Rs 5.5 lakhs	Rs 7 lakhs to Rs 10 lakhs	Rs 15 lakhs to Rs 35+ lakhs
DELHI	Rs 3.5 lakhs to Rs 4.5 lakhs	Rs 5 lakhs to Rs 7 lakhs	Rs 8 lakhs to Rs 20+ lakhs
KOLKATA	Rs 1 lakh to Rs 5 lakhs	Rs 5 lakhs to Rs 8 lakhs	Rs 9 lakhs to Rs 12+ lakhs
BENGALURU	Rs 4 lakhs to Rs 5 lakhs	Rs 6 lakhs to Rs 10 lakhs	Rs 15+ lakhs
KOCHI	Rs 3 lakhs to Rs 4 lakhs	Rs 4 lakhs to Rs 6 lakhs	Rs 7 lakhs to Rs 10+ lakhs
AHMEDABAD	Rs 2 lakhs to Rs 4 lakhs	Rs 6 lakhs to Rs 9 lakhs	Rs 10 lakhs to Rs 15+ lakhs

Industry-specific management accountant salary

The management accountant’s salary also varies across industries. Some pay more than others as their profitability and demand for financial expertise are higher. Here is the average salary for a management accountant according to different sectors.

INDUSTRY	AVERAGE SALARY
CONSULTING	Rs 5 lakhs to Rs 15 lakhs
MANUFACTURING	Rs 6 lakhs to Rs 12 lakhs
FINANCE & BANKING	Rs 9 lakhs to Rs 15 lakhs
INFORMATION TECHNOLOGY	Rs 8 lakhs to Rs 14 lakhs
HEALTHCARE	Rs 5 lakhs to Rs 10 lakhs
RETAIL	Rs 4.5 lakhs to Rs 9 lakhs
PUBLIC SECTOR	Rs 4 lakhs to Rs 8 lakhs

 

Also Read- Functions of Management Accounting

Management Accountant Salary-Boosting Certifications

Your educational qualifications play a huge part in getting you a higher salary. Here are the top credentials you need on your resume to earn a bigger paycheque.

1. Certified Management Accountant (US CMA)

• Established by the Institute of Management Accountants (IMA), USA
• Globally recognised in over 150 countries.
• It helps students build expertise in cost management, budgeting, forecasting, decision support, professional ethics, and strategic planning.
• MNCS, global firms and leading banks prefer to hire US CMA holders.
• Certified professionals can work in finance and management accounting roles in multiple industries.
• Most individuals can complete the course within a year, as there are only two exams to take.
• The fees are comparatively more reasonable than other courses, making the US CMA a good option to consider.

 

How it affects your salary:

• In India, US CMA professionals earn 30 to 50 per cent more than their non-certified counterparts. (According to the IMA global salary survey.)
• Professionals can earn between Rs 8 lakhs to Rs 25 lakhs (according to experience level)

2. Chartered Institute of Management Accountants (CIMA)

• Created by the Chartered Institute of Management Accountants Board, UK
• Syllabus has a strong focus on business strategy and financial leadership.
• Recognised by global corporations in over 180 countries.
• Enables professionals to take on leadership roles in management accounting.
• There are 16 exams across four levels in the CIMA course.
• Once you complete the CIMA course and your 3 year work requirement, you can apply for the Global Chartered Management Accountant (CGMA) designation. Clearing the CGMA strategic case study exam can increase your salary even more.

 

How it affects your salary:

• CIMA-certified professionals can earn up to 63 per cent more than non-CIMA accountants (According to CIMA Salary Insights)
• Fully qualified CIMA professionals can earn Rs 15 lakhs to Rs 40+ lakhs in India.

3. Cost & Management Accountant (CMA India)

• It was started by the Institute of Cost Accountants of India (ICAI).
• The course focuses on cost control, taxation and corporate financial management.
• It is a preferred qualification in Indian companies and public sector firms.
• It is an ideal certification for professionals who want to work in cost accounting, taxation, and compliance in India.

 

How it affects your salary:

• Freshers can earn a management accountant’s salary of Rs 6 lakhs to Rs 12 lakhs.
• Senior management roles come with an income of Rs 20 lakhs to Rs 40 lakhs.

4. MBA/Masters In Accounting

• The programs can be taken at colleges in India or abroad.
• The syllabus offers broader business and strategic finance knowledge.
• Both degrees are full-time, two-year programs.
• Professionals can work in various positions in investment banking, corporate finance and financial management.

 

How it affects your salary:

• MBA professionals from tier-one B-schools earn an average salary of Rs 20 lakhs to Rs 30 lakhs yearly.
• Those from tier-two colleges can earn an average salary of Rs 8 lakhs to Rs 12 lakhs annually.

 

Also Read- The Importance of Management Accounting

The Management Accountant Salary Package — Additional benefits and incentives

Management accountants in India earn more than just a basic salary. They can also receive various incentives and perks, depending on the company they work for and their experience level. Here are some of the benefits you can expect:

1. Performance-Based Bonuses

Professionals can earn an annual bonus of 10 to 30 per cent of their base salaries. This figure will depend on their output and the company’s profits for the year.

2. Stock Options

Some MNCs and listed companies can offer senior management accountants additional compensation, such as stock options or equity benefits.

3. Allowances

Management accountant employees can also receive house rent, travel and meal allowances, in addition to their base salaries.

4. Retirement and Insurance Benefits

Management accounting employees receive provident fund contributions and a gratuity (after five years), and in some cases, they also get medical insurance that covers the whole family.

Also Read- How Management Accounting helps in Decision Making?

Why should you sign up for Proschool’s courses?

The field of management accounting can be very competitive. To make your mark in this industry and rapidly build a successful career, partner with Proschool. As one of India’s top coaching institutions, Proschool has enabled thousands of students to become qualified specialists in finance and accounting. They offer two globally respected certifications — US CMA and CIMA — that empower students to master key concepts, gain in-depth knowledge and develop relevant skills. The courses are taught by industry professionals who use active learning methods and innovative training techniques. Students learn how to excel in their chosen careers and earn lucrative management accountant salaries.

Proschool’s highlights:

• It is the only top coaching institute that offers classroom learning in multiple cities.
• Students can also take online classes.
• To ace the exams, Proschool provides a dedicated LMS platform containing full-length mock tests, practice papers, board-approved study material and a large collection of Q&A banks.
• Teachers hold doubt-clearing sessions and revision classes while offering personalised support to all students.
• Once certified, you get exclusive access to Proschool’s placement portal with hundreds of relevant job openings.
• The institute’s recruitment training support includes full-length mock interviews, resume building and soft skills development.

Conclusion

While the average salary of a management accountant depends on many factors, such as experience level, company and location, it is safe to assume that most professionals earn very well. It is especially true if you hold a reputed certification such as the US CMA or CIMA. So, if this profession is your calling, sign up for one of the courses today and soon, you will be able to watch your career soar to new heights.

Click here to register with Proschool today.

FAQs

Which industries pay the highest salaries for management accountants?

Management accountants can earn high salaries in finance, information technology and oil. They also receive larger incomes when working for MNCs and global consulting firms.

Can professional certifications such as the US CMA increase my earning potential?

Definitely. As the IMA global salary survey revealed, the average Indian management accountant’s salary is nearly 30 to 60 per cent higher than non-certified peers. The US CMA can also help you work in well-paying MNCs in high-profile positions such as FP&A manager, finance controller and CFO.

What kind of salaries do management accountants earn globally?

While the management accountant’s salary depends on the type of company, location and experience level, here are the approximate entry-level salaries you can expect in the following countries:

United States: $50,000 to $55,000

Canada: CAD 40,000 to CAD 60,000

Germany: €35,000 to €40,000

UAE: AED 169,641 and AED 295,112

What is the highest-paying role for a management accountant in India?

The highest-paying role is the chief financial officer. Professionals with this designation can earn Rs 45+ lakhs a year.

What factors affect the average salary of a management accountant?

There are multiple reasons why two management accountants can have different salaries. The location of the company is significant. Companies in metros pay more than those in smaller cities. The size of the organisation also matters. Large MNCs and global giants will have the resources to pay larger salaries and incentives. Small businesses or start-ups will not be able to match their numbers. Your experience level, qualifications, skills and negotiation abilities will all play a role in generating your specific management accountant salary.