CIMA Salary Guide: What Do Management Accountants Earn?

Introduction

One of the most compelling reasons to pursue the CIMA qualification is the salary uplift it provides. Management accountants are in high demand across every industry, and the CIMA designation signals to employers that you have the skills to contribute at a strategic level.

This guide provides realistic salary expectations for CIMA professionals at different stages of their career, across different sectors and regions of the UK.

Salary by Qualification Level

Your earning potential increases significantly as you progress through the CIMA qualification. Even part-qualified CIMA students command higher salaries than their peers without a professional qualification.

CIMA Student (Certificate Level)

Candidates studying at the Certificate level are typically in the early stages of their career or transitioning into accounting from another field.

• Typical salary range: £22,000–£32,000
• Common job titles: Accounts assistant, finance assistant, junior management accountant, trainee accountant

At this stage, the qualification signals commitment to professional development, which employers value even before you have completed the full qualification.

Part-Qualified CIMA (Operational to Management Level)

Part-qualified CIMA candidates who have passed several professional-level exams are in strong demand, particularly for roles that require management accounting skills but do not yet require full qualification.

• Typical salary range: £30,000–£50,000
• Common job titles: Management accountant, financial analyst, assistant finance manager, cost accountant, finance business partner (junior)

The jump from Certificate to part-qualified is where the salary uplift becomes most noticeable. Employers are willing to pay a premium for candidates who have demonstrated the ability to pass professional-level exams.

Newly Qualified CIMA (CGMA)

Completing the full CIMA qualification and earning the CGMA designation is a significant milestone. Newly qualified members typically see an immediate salary increase, either through promotion or by moving to a new employer.

• Typical salary range: £45,000–£65,000
• Common job titles: Senior management accountant, finance manager, finance business partner, commercial finance analyst, FP&A analyst

Experienced CIMA-Qualified (5+ years post-qualification)

With experience, CIMA-qualified professionals progress into senior and leadership roles where salaries increase substantially.

• Typical salary range: £60,000–£90,000
• Common job titles: Finance director, head of finance, financial controller, head of FP&A, commercial finance director

Senior Leadership (10+ years)

At the most senior levels, CIMA-qualified professionals can earn six-figure salaries, particularly in larger organisations or high-growth sectors.

• Typical salary range: £80,000–£150,000+
• Common job titles: CFO, group finance director, VP of finance, divisional finance director

Salary by Sector

The sector you work in has a significant impact on your earning potential. Some industries consistently pay above-average salaries for management accounting roles.

Financial Services

Financial services firms — including banks, insurance companies, and asset managers — tend to offer the highest salaries for management accountants.

• Typical range for qualified CIMA: £55,000–£90,000
• Why: Financial services firms are data-rich environments where management accountants play a critical role in profitability analysis, risk assessment, and regulatory reporting.

Technology

The technology sector has become one of the strongest employers of management accountants, driven by the need for financial modelling, unit economics analysis, and investor reporting.

• Typical range for qualified CIMA: £50,000–£85,000
• Why: Fast-growing tech companies need finance professionals who can provide commercial insight, support fundraising, and manage rapid scaling.

Manufacturing and Engineering

Manufacturing has traditionally been a core sector for CIMA-qualified professionals, given CIMA's strong focus on cost accounting and operational finance.

• Typical range for qualified CIMA: £45,000–£75,000
• Why: Cost management, variance analysis, and production planning are central to manufacturing profitability, making CIMA skills directly applicable.

Professional Services

Consulting firms, legal firms, and other professional services businesses employ management accountants for internal finance roles.

• Typical range for qualified CIMA: £48,000–£80,000
• Why: Professional services firms need strong financial management to maintain profitability and support partnership structures.

Public Sector and NHS

Public sector organisations, including NHS trusts, local authorities, and government departments, offer competitive salaries with strong benefits packages.

• Typical range for qualified CIMA: £40,000–£65,000
• Why: While base salaries may be slightly lower than the private sector, public sector roles often include generous pension schemes, job security, and work-life balance benefits.

Retail and FMCG

Retail and consumer goods companies rely heavily on management accountants for commercial analysis, category management, and supply chain costing.

• Typical range for qualified CIMA: £45,000–£75,000
• Why: The fast-paced nature of retail creates constant demand for financial insight to support buying decisions, pricing strategy, and margin analysis.

Salary by Region

Location affects salary levels, with London commanding a significant premium.

London

• Typical range for qualified CIMA: £55,000–£90,000
• London salaries are typically 15–25% higher than the national average, reflecting the higher cost of living and concentration of large employers.

South East England

• Typical range for qualified CIMA: £48,000–£75,000
• The South East benefits from proximity to London and a strong business base.

Midlands

• Typical range for qualified CIMA: £42,000–£65,000
• Birmingham, Coventry, and Nottingham have growing finance sectors with lower living costs than London.

North of England

• Typical range for qualified CIMA: £40,000–£62,000
• Manchester, Leeds, and other northern cities offer strong management accounting opportunities, often with a better salary-to-cost-of-living ratio than London.

Scotland

• Typical range for qualified CIMA: £42,000–£68,000
• Edinburgh and Glasgow have established financial services sectors, and Scotland has a growing technology scene.

Wales and Northern Ireland

• Typical range for qualified CIMA: £38,000–£58,000
• While salaries are generally lower, the cost of living is also significantly reduced.

Factors That Boost Your Salary

Beyond qualification level, sector, and location, several factors can increase your earning potential:

Industry experience. Deep knowledge of a specific industry (such as financial services or technology) commands a premium. Employers value finance professionals who understand their business, not just the numbers.

Technical skills. Proficiency in financial modelling, data analysis tools (Excel, Power BI, SQL), and ERP systems (SAP, Oracle) can add £5,000 to £15,000 to your salary.

Leadership ability. Finance professionals who can manage teams, influence stakeholders, and communicate complex information clearly are in high demand for senior roles.

Commercial acumen. The ability to translate financial data into actionable business recommendations is what distinguishes a management accountant from a number-cruncher. This skill is highly valued and well-compensated.

Continuous development. Staying current with developments in financial reporting standards, technology, and management accounting techniques keeps your skills relevant and your earning potential high.

CIMA vs Other Qualifications: Salary Comparison

How do CIMA salaries compare to other accounting qualifications?

| Qualification | Typical Qualified Salary | Notes | |---|---|---| | CIMA (CGMA) | £45,000–£65,000 | Industry-focused, strong in management accounting | | ACCA | £42,000–£62,000 | Broad qualification, versatile across sectors | | ACA (ICAEW) | £48,000–£70,000 | Practice-focused, strong audit and tax premium | | AAT | £25,000–£38,000 | Technician level, stepping stone to CIMA or ACCA |

Note that these ranges overlap significantly, and individual salaries depend more on experience, sector, and role than on the specific qualification held. At senior levels, the differences between CIMA, ACCA, and ACA salaries become negligible.

The Return on Investment

When comparing the cost of CIMA (approximately £3,000 to £10,000 depending on study route) to the salary uplift it provides, the return on investment is exceptional.

A candidate earning £28,000 as a finance assistant who qualifies as a CIMA member and moves into a management accountant role at £48,000 has gained a £20,000 annual salary increase. Even at the higher end of qualification costs, the investment pays for itself within a few months.

Over a 30-year career, the cumulative earnings difference between a qualified and unqualified professional is measured in hundreds of thousands of pounds.

Start Building Your Earning Potential

Every CIMA exam you pass brings you closer to the salary levels described in this guide. The journey starts with your first objective test, and the best way to prepare is through regular practice with exam-style questions.

Begin with free CIMA practice questions and start building the knowledge and credentials that will shape your career in management accounting.