Benefits June 14, 2007

Getting an Accounting Certification Pays

June 14, 2007 (PLANSPONSOR.com) - Accounting professionals who are certified earn about 27% more than those without a certification, a recent survey by the Institute of Management Accountants shows.
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According to the survey of about 1,600 respondents, those holding Certified Management Accountant (CMA), Certified Public Accountant (CPA), or Certified Financial Manager (CFM) designations reported a higher average salary in 2006 than their non-certified peers: $102,393 compared to $80,738.

The survey also revealed that average total compensation, which includes salary as well as other incentives such as bonuses and profit sharing for certified accounting professionals, was 31% higher than average total compensation for non-certified professionals – $123,662 compared to $94,191.

The average total compensation for all respondents increased by nearly 6% to $113,965 compared to the year before and 76% of respondents said they received additional compensation, the highest percentage in the past three years.

The complete survey can be found in the June 2007 issue of Strategic Finance Magazine, available at http://www.imanet.org/publications_sfm_current.asp .

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