Cost and Management Accounting Career: Job Profiles, Placements, Salary, Top Recruiters, Abroad

Cost and Management Accounting are two closely connected areas of accounting, that are dedicated to giving businesses the data and insights they need to make wise decisions and efficiently manage their financial resources.

At the entry-level, Cost and Management Accounting candidates can work as Cost Accountant Trainee, Junior Management Accountant and Financial Analyst, and earn an average salary ranging from INR 4 to 5 lakh. However, the positions at the mid-senior level can be Cost Accountant, Management Accountant, Controller, with pay ranging from INR 6 to 10 lakh.  At the senior level, they can earn a salary ranging from INR 10 to 15 lakh at job profiles like Cost Accounting Manager, Chief Financial Officer, etc.

Also Read: Cost and Management Accounting Course Overview

Average Salary Based On Job Position

The average salary for various job positions after Cost and Management Accounting depends on several variables, including market growth and industry trends. The compensation given to entry-level employees or newcomers ranges between INR 4- 6 LPA.

The table below provides the average salary ranges for several employment positions for Cost and Management Accounting graduates:

Job Profile	Average Salary (INR)
Cost Accountant Trainee	INR 3 LPA - 5 LPA
Junior Management Accountant	INR 3.5 LPA - 6 LPA
Financial Analyst	INR 4 LPA - INR 7 LPA
Cost Accountant	INR 4.5 LPA -INR 8 LPA
Management Accountant	INR 5 LPA- INR 10 LPA
Senior Financial Analyst	INR 6 LPA - INR 12 LPA
Controller	INR 8 LPA - INR 15 LPA
Cost Accounting Manager	INR 10 LPA -INR 18 LPA
Chief Financial Officer	INR 20 LPA and above

Note: The salary data has been sourced from external links.

Top Careers in Cost and Management Accounting

A satisfying career in cost and management accounting offers many opportunities for advancement and development. Cost and management accountants play a vital role in helping businesses optimise operational efficiency, control costs, and make wise financial decisions. They assist with budget creation, cost analysis, financial data analysis, and strategy planning.

Candidates can work in either of the below-mentioned job profiles:

Job Profile	Description	Average Salary (in INR)
Cost Accountant	Calculate and manage production costs, identify cost-saving opportunities.	INR 4.5-INR 8 LPA
Management Accountant	Provide financial information and analysis for decision-making and strategic planning.	INR 3-INR 5 LPA
Financial Analyst	Analyze financial data, prepare reports, and support investment decisions and financial planning.	INR 5-INR 8.5 LPA
Controller	Oversee financial activities, manage accounting departments, and ensure financial compliance.	INR 4.5 -INR 5.6 LPA
Chief Financial Officer	Lead financial strategy, reporting, and financial health of the organisation.	INR 5.6-INR 7.5 LPA

Also Read: Accounting Course Details

Specialisation Wise Salary for Cost and Management Accounting Graduates in India

The salary offered to Cost and Management Accounting graduates also varies as per the specialisation chosen during graduation. The salaries shared below reflect not only the specialisation, but also other factors such as company size, experience, industry, and location.

Specialisation	Entry-level CTC	Mid-level CTC	Senior-level CTC
Cost/Management Accounting	INR 3-4 LPA	INR 5-7 LPA	INR 8-10 LPA
Financial Analysis and Planning	INR 3-6 LPA	INR 7- 10 LPA	INR 10-12 LPA
Risk Management	INR 4-5 LPA	INR 6- 8 LPA	INR 9-11 LPA
Treasure Management	INR 3.5-6.5 LPA	INR 7- 8 LPA	INR 9.5-11 LPA
Taxation	INR 4-5 LPA	INR 6-7 LPA	INR 8-14 LPA
Management Consulting	INR 3-6 LPA	INR 6.5-10 LPA	INR 11-12.5 LPA

Note: The salary data has been sourced from external links.

Top Recruiters for Cost and Management Accounting 

Cost and Management Accounting people can work in various settings, including health clinics, hospitals, NGOs, schools, and social service agencies. Students can see the table below to know the industries where graduates can find employment.

Employment Areas for Cost and Management Accounting Graduates
Healthcare	Manufacturing
Retail	Non-Government Organisations
Entertainment	-----

The various recruiters based on specialisations hire cost and management accounting graduates through placement drive conducted in top colleges. The various recruiters based on these specialisations includes the following:

Healthcare Recruiters
Apollo	Fortis	Medanta
Piramal	Sun Pharma	Cipla
Retail Recruiters
Reliance	Croma	D Mart
Spencer	V Mart	---
NGO Recruiters
Butterfly	HelpAge	CRY
Nanhi Kali	Goonj	Care India
Manufacturing Recruiters
Hindustan Unilever	Tata Motors	Bajaj Auto
Godrej	Mahindra and Mahindra	---
Private Organisations
Accenture	Cognizant	Infosys
IBM India	Tata Consultancy Services (TCS)	Wipro

How to Get a Job After Cost and Management Accounting?

After receiving a Cost and Management Accounting degree, finding employment requires a combination of planning, networking, job hunting, and application. Interested candidates can see the points below to know how they can grab a job after the programme.

Complete Programme: Ensure you have completed and passed the required examinations.

Internships: Students can do internships. Internships or field placements are essential in MSW programmes. Utilise these chances to pick up real-world experience in your chosen area of social work. 

Specialisations: Choose the social work role and environment in which you want to work. This will enable you to narrow down the search for a job and personalise your application materials.
Networking: In the discipline of social work, networking is essential. Attend social work events, conferences, and workshops. Meet more people to increase your chances of finding a job.

Top Indian Cities to Get Lucrative Jobs After Cost and Management Accounting

Most top-tier cities offer vibrant job markets for Cost and Management graduates. As MSW jobs in India include a wide range of industries and provide extensive learning opportunities, students can find employment and career progression in cities like:

City	Job Opportunities	Average Annual Salary (in INR)
Delhi	Retail, Government organisations, NGOs, Healthcare institutions, International Agencies	INR 4 lakh- INR 6 lakh
Mumbai	Entertainment, NGOs, Manufacturing, Healthcare, Private Organisations	INR 5 lakh - INR 6 lakh
Pune	Mental health services, Retail, Educational Institutions	INR 3.5 lakh- INR 9 lakh
Hyderabad	Healthcare, NGOs, and Private Organisations	INR 4.5 lakh- INR 8 lakh
Bangalore	IT sector, Healthcare, Manufacturing, NGOs.	INR 3.5 lakh- INR 7 lakh
Chennai	Education, Healthcare, NGOs, Child welfare and development.	INR 2.5 lakh- INR 8 lakh
Chandigarh	Government Agencies, Healthcare, and NGOs.	INR 2.5 lakh- INR 4.5 lakh
Kolkata	Healthcare, Education, and NGOs	INR 2.5 lakh- INR 9 lakh
Ahmedabad	Retail, Government Agencies and social service agencies.	INR 3.5 lakh- INR 6.5 lakh
Jaipur	Healthcare, Child welfare, and community development organisations.	INR 6.5 lakh- INR 8.5 lakh

Cost and Accounting Salary Abroad

Cost and Accounting graduates can seek exciting job opportunities in popular job destinations such as UK, USA, Canada, Australia, Germany, New Zealand. etc. The salary depends on various factors such as cost of living, location of the country, specialisation, years of experience, industry, etc. The salary ranges of the following countries are given in the table below:

Country	Salary Offered
USA	Entry-Level (0-2 years of experience): $40,000 to $55,000 annually. Mid-Level (3-5 years of experience): $55,000 to $70,000 annually. Senior-Level (10+ years of experience): $70,000 to $90,000 yearly.
United Kingdom	Entry-Level (0-2 years of experience): £25,000 to £35,000 annually. Mid-Level (3-5 years of experience): £35,000 to £45,000 annually. Senior-Level (10+ years of experience): £45,000 to £60,000 or more annually.
Canada	Entry-Level (0-2 years of experience): CAD 45,000 to CAD 60,000 annually. Mid-Level (3-5 years of experience): CAD 60,000 to CAD 75,000 annually. Senior-Level (10+ years of experience): CAD 75,000 to CAD 90,000 annually.
Germany	Entry-Level (0-2 years of experience): €35,000 to €45,000 annually. Mid-Level (3-5 years of experience): €45,000 to €55,000 annually. Senior-Level (10+ years of experience): €55,000 to €70,000 or more per year.
Australia	Entry-Level (0-2 years of experience): AUD 50,000 to AUD 60,000 annually. Mid-Level (3-5 years of experience): AUD 60,000 to AUD 75,000 annually. Senior-Level (10+ years of experience): AUD 75,000 to AUD 90,000 or more annually.

Disclaimer: The above salary data has been obtained from external sites.

Following are the most popular Cost & Management Accounting Colleges in India. Learn more about these Cost & Management Accounting colleges (Courses, Reviews, Answers & more) by downloading the Brochure.

Following are the most popular Cost & Management Accounting courses, based on alumni reviews. Explore these reviews to choose the best course in Cost & Management Accounting.

Following are the most popular Cost & Management Accounting UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

Following are the most popular Cost & Management Accounting PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

Following are the top exams for Cost & Management Accounting. Students interested in pursuing a career on Cost & Management Accounting, generally take these important exams.You can also download the exam guide to get more insights.