DUBAI, United Arab Emirates: ME NewsWire: IMA® (Institute of Management Accountants), the association of accountants and financial professionals in business announced a record-breaking growth of its flagship certification, the CMA® (Certified Management Accountant) credential in fiscal year (FY) 2016, ending June 30.
The premier global management accounting certification reached a milestone of 50,000 holders since the program was created in 1972. In FY 2016, 3,838 CMAs earned the credential; a record number for any fiscal year. In addition, 18,761 new candidates enrolled in the program – a 20% jump from 2015 – which brings the number of candidates who chose to join the program in the past five years to 70,000.
“This rise in numbers – as well as respect and influence – confirms that the CMA continues to be the leading global management accounting credential in the world,” said Jeff Thomson, CMA, CAE, president and CEO of IMA. “For more than 40 years, we have been building a professional certification program that is a true reflection of the global management accounting profession. We pride ourselves in providing a certification that represents credibility and competence in all of the most crucial management accounting skill sets.”
The CMA’s growth is all the more impressive due to its rigorous testing methodology and high standards to earn the credential, which, assures CMA employers on the mastery every certificate holder has in all areas of management accounting. This was significantly reflected in the global salary survey conducted by IMA for the second consecutive year, combining the global salary survey of its members for the year 2015, with a detailed report examining the responses of members located in the Middle East/Africa (MEA) region. Key findings indicated an increase in the number of CMA credential respondents compared to the previous year, with CMAs in MEA earning 37% more in median salary than their non-CMA counterparts. Globally, the median base salary and total compensation is 61% higher for CMAs over non-CMAs and CMAs of all ages earn more than non-CMAs. The findings also suggested that those aged 30-39 receive the greatest premium, with a median salary 50% greater than their non-CMA peers.
Not only does this analysis include comparisons to last year’s survey results, but it also incorporates the results from previous salary surveys that were focused only on MEA members. For more information on each region, visit http://www.imanet.org/insights-and-trends/salary-surveys.
The growing number of CMA applicants and candidates preparing for the exam in the Middle East Region has led IMA Middle East to launch a series of ‘CMA Exam Tips’ sessions conducted by Ella Suponitskiy, director of exam operations and grading in Dubai, Kuwait, and Qatar. The sessions were attended by 350 attendees from different regions, with the purpose of providing CMA students and potential candidates with a profound understanding of the CMA certification and exam structure.
“It was truly moving to meet this remarkable number of IMA members and CMA candidates from various cities in the Middle East, and to share with them CMA study tips and strategies,” said Ella Suponitskiy commenting on the tour. “I feel that the CMA program offers so many rewards to candidates worldwide and in the Middle East particularly, and I am confident that with the right amount of preparation and practice, these candidates can earn the CMA certification in record time”.
ABOUT IMA (INSTITUTE OF MANAGEMENT ACCOUNTANTS):
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 80,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe and Middle East/Africa.