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Accountant Salary and CMA Exam Saudi Arabia (Latest Trend)

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As the number of IMA members increase in the Middle East, the IMA is able to gather enough data to create country-specific salary reports on several countries in the region, including the Kingdom of Saudi Arabia (KSA).

Profile of a Saudi Arabian Accountant in the Survey

Similar to the findings in UAE and Egypt, the respondents of the survey are more likely to be male (73%). All of them have bachelor degree and 58% of them are CMA certificate holder. The average age is 37, comparable to those from the Middle East, but slightly younger than the global average.

Accountant Salary in Saudi Arabia

Accountant salary in Saudi Arabia

The average salary among the respondents in Saudi Arabia is US$49,189 and compensation (meaning basic salary and benefits) is US$67,387. As you can see from the chart above, both metrics are higher than the global average by a considerable degree.

The median salary and compensation is also higher than the global average, but to a lesser extent. This shows that there are certain professionals in KSA who are paid substantially higher and they pull up the country average. In general, we should focus on the median figures to find out the salary level of a typical Saudi Arabian professional.

Accountant salary in Saudi Arabia by region

If we are to look at the breakdown within Saudi Arabia, the western region has a higher difference between mean and median salary. This demonstrates that the income is more evenly distributed at a western region.

CMA vs non-CMA

CMA salary in Saudi Arabia

Same as all countries around the world, CMA salary in Saudi Arabia is considerably higher than that for non certificate holders. On average, CMAs in Saudi Arabia are paid US$56,056 in terms of basic salary, and US$78,440 in terms of compensation. This is a premium of 42% and 51% respectively when compared to non-CMAs.

Similarly, those with advanced degree also enjoy a sizable premium to those with bachelor degree.

Salary Comparison by Job Nature

Saudi Arabia salary in accounting and finance

In Saudi Arabia, general management, internal audit and corporate accounting enjoy the highest salary level, both in terms of basic salary and compensation. While there are notable differences, the salary range among the accounting niches isn’t as big as those in Egypt and UAE.

In terms of the nature of benefits within the compensation package, almost all of them have healthcare or healthcare insurance. More than half of them have company car allowance, travel benefits and allowances, as well as bonuses.

Expectation and Trend

accountant salary trend in saudi arabia

In terms of actual and expected salary raise, 63% of respondents received an income increase this year, and 75% expect so next year. The average increase this year is 13%, which is similar to the level in UAE and Egypt. Unlike Egypt, however, the inflation remains low at 3-5% in recent years. This means the employees generally enjoy a considerable salary raise in real terms.

KSA accountant change jobsDespite the optimistic salary trend, 56% of respondents desire to switch job within the next year. This observation is similar to that in UAE and Egypt, but at a lesser degree. Among those who want to change jobs, 38% of them would like to work in another country, notably UAE and Canada.

Taking the CMA Exam in Saudi Arabia

There are several sites for taking the CMA exam in Saudi Arabia:

Riyadh*

AMIDEAST Saudi Arabia, Al Kindi Plaza
#57, First Floor, Diplomatic Quarters

Dammam (for men)

Chamber of Commerce & Industry
Eastern Province, Training Centre

Dammam (for women)

MindMerge Training Center, Mousa Center
Entrance C from the back of the building
Al Khobar

Jeddah*

MindMerge Training Cntr, Advance Business Ctr
(Same bldg as Competitive Price Center)
Jeddah

Madina (for men)

Unlimited Institute, Al Azhari
Beside Private Training Administration
Madina

Tabuk (for men)

Prometric, Al Morouj area
Abubaker Al Sideeq St

Tabuk (for women)

Prometric Test Centre – New Horizons
Mrooj Alamir

Qasim*

ALKAFAT, AL Manar neighborhood
Althamaneen ST Southwards, Qassim- Buraidah

* These centers have separate facilities for men and women.

There may be other sites for CMA exam in Saudi Arabia. Please check by following the instruction on this page. Remember to type in the city name (instead of country name).

Blogger of CMA exam in Saudi ArabiaCheck out our KSA blogger Sherif!

Sherif is originally from Egypt but he has been working in KSA for years, now the Treasurer of one of the local IMA chapters.

Check out his amazing CMA exam journey and his perseverance in tackling this exam! His story starts here>>

For Your Further Reading

CMA in UAE CMA in Egypt CMA in Middle East
Salary in UAE Salary in Egypt Salary in Middle East

What’s the Next Step?

As you can see from the chart, CMAs earn significant more in Egypt. To learn how to effectively plan, prepare for and pass the CMA exam, check out my free e-course here or sign up directly below:

About the Author Stephanie Ng

I am the author of How to Pass The CPA Exam (published by Wiley) and the publisher of this and several accounting professional exam prep sites.

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  • Fischer says:

    Hello Stephanie,

    I am from India aged 36 and currently pursuing CMA (US). Currently work with a Financial Services firm performing reconciliation of cash and stock breaks between an investment Manager and Custodian (10 years Exp).
    Had 5 years experience of teaching accounting in a small accounting class. Will be looking for a job in Dubai after passing . Will I be considered as a fresher or will my prior experience count?

    • Stephanie Ng says:

      Hi Fischer, if you are looking for similar positions, I am sure it will be counted. But then if you are looking for something very different, then less so. It is hard to generalize, but I will certainly list them all and package them well enough to make them look interesting to the recruiters. Regards, Stephanie

  • R.R says:

    Hello Stephanie, I am currently working in KSA Riyadh in a Multinational Company as a Accountant cum Auditor. Now I am planning to start CMA. please guide me about CMA that how much it will give me benefit in my future career. And I have total experience of 6 years in which I have completed 2 years in KSA.

  • Ranecarg says:

    Hi Stephanie,

    Currently I’m still in college studying my profession as an accountant and it take one more year to finished it, then after I’ll take the CPA board exam here in the Philippines (lets assume that I passed the board exam). Would that be credited in my profile if ever I plan to apply for a job as an accountant in Saudi? And what is the difference of being a CMA holder?

    • Stephanie Ng says:

      Hi Ranecarg,
      I am not sure whether the Filipino CPA designation will be officially recognized, although I understand there are many Filipinos working in the area and it should be helpful. The CMA certification however is well known and fully recognized in the region so it’s worth trying it out if you have solid plans to move there. Shouldn’t be that difficult if you recently take your local exam as I heard yours is also quite tough. Goo luck! Stephanie

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