Management accountants optimistic about future earning and learning

Tuesday, 26 September 2017 00:00 - - {{hitsCtrl.values.hits}}

“Never a better time to be a management accountant”
Pay levels for management accountants are performing well against the backdrop of low global inflation.

The latest annual salary survey from the Association of International Certified Professional Accountants reveals average earnings for qualified Chartered Global Management Accountant designation-holders in Sri Lanka is Rs. 2,173,000, rising by an average of 12% in the next 12 months.

Pay prospects for CGMA trainees are also bright, with students en route to full CGMA status believing their salary will go up by 15% in 2017/18. They are currently paid an average Rs. 460,000 a year.

A strong focus on professional development in the accountancy sector was also shown in the survey, with a healthy desire by both qualified and student CGMAs to learn new skills, such as strategy and negotiation, to help their own careers and the organisations in which they work.

Association of International Certified Professional Accountants Regional Vice President, Asia Pacific Venkkat Ramanan said: “I remain optimistic that the transformation of business and finance functions will bring enormous opportunity for management accountants to show their value.

“Key to success will be an investment in continuous professional development. The survey highlighted the training needs to be on the strategic and soft skills that employers say will be critical to succeed.”

Association of International Certified Professional Accountants Chief Executive – Managing Accounting Andrew Harding said: “Change is happening at unprecedented speed, and reshaping how business is done. There has never been a better time to be a management accountant. The skills and experience they use to overcome challenges and seize opportunities are clear for employers to see. This is reflected in the salaries and positions being offered globally.”

More information on the survey can be found on the Association’s Salary Insights Tool, or https://salary.aicpaglobal.com/, where chartered global management accountants and CGMA students can compare their salary across the profession.