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What Is the Average Salary For Management Accountants in the North West?
26 Apr, 20241-2 minutes
In this blog, you will learn:
- What a Management Accountant is.
- The average salary for Management Accountants in the North West.
- How to earn more as a Management Accountant.
- Where the latest Management Accountant jobs are and how to apply for them.
In your career as a Management Accountant, you might be wondering whether you are being paid your worth. You work hard, you're experienced and you have all the relevant skills. So shouldn’t your salary reflect your expertise and worth in the finance industry?
Throughout this blog, you’ll discover the average salary of a Management Accountant across the North West.
What is a Management Accountant?
A Management Accountant is an accounting professional who provides financial information to a company's management. Management Accountants perform detailed analysis in order to give corporate leadership the financial information in order to set the company budget, forecast future earnings, reduce costs and manage investments.
Management Accountants use their knowledge, skills and experience to prepare reports, contribute to meetings and deliver presentations to communicate financial information and plans.
How much does a Management Accountant earn in the North West?
The average salary for a Management Accountant is £40,300 per year in the North West region, approximately £19.13 an hour. However, this can vary between £37,500 and £43,300.
Since 2022, the average salary for a Management Accountants in the North West has increased by 12% and is expected to rise in 2025 by nearly 5%.
However, the average salary of any role can vary depending on location, level of experience and seniority. The amount you earn also depends on worker skill, experience and the size of the company.
Experienced workers are usually entitled to a higher salary than beginners regardless of location, employer. Instead their salary is based on experience, performance and skills.
The starting salary for a junior Management Accountant in the North West is £25,000 per year, which falls below the average finance salary because of experience, productivity and in-demand skills.
As Management Accountants gain more experience, they can earn more with the potential to earn large bonuses. Senior Management Accountants can earn up to a possible £57,500 per year. Large enterprises with a higher headcount can offer more because budgets are bigger, with an average salary between £60,000 and £70,000.
How much does a Management Accountant earn in different regions?
The average salary for a Management Accountant can vary between regions with bigger cities like London offering higher salaries.
Factors like qualifications, competition and living costs can affect the average salary of Management Accountants, as the salary compensates for higher living costs.
The highest paid regions for Management Accountants are the city of London with an average salary of £52,500, followed by Bristol and Newcastle-Upon-Tyne. In the North West, the highest paid regions for Management Accountants are St Helens with an annual salary of £46,825 and Liverpool with an annual salary of £42,500.
In the East Midlands, Management Accountants have seen a significant salary increase of 9.5% since 2022, rising from £37,500 to £40,200 in 2024. The average annual salary is expected to rise to £42,200 in 2025.
How to earn more as a Management Accountant
A great way to earn more money as a Management Accountant is to gain qualifications that enhance your knowledge and increase your chances of professional growth. There are several qualifications Accountants can gain, including ACCA, and CIA; however, the Chartered Global Management Accountant (CGMA) is widely recognised as the most relevant global finance qualification for Management Accountants.
The CGMA qualification is a professional certification for individuals pursuing a career in management accounting and can open the door to higher salaries, larger networks and a successful finance career.
Having CGMA after your name isn’t just an impressive addition that reflects your skills and professional expertise to potential employers, it also warrants a higher salary.
The CGMA qualification demonstrates a certain level of expertise and professionalism to employers. A qualification like CGMA can be rewarded with higher salaries due to the value and professional competence that it can bring to an organisation.
According to the AICPA & CIMA salary survey, the average salary of AICPA & CIMA members studying the CGMA designation reached £38,000 in August 2023, an increase of 8%.
This means that those working towards the CGMA designation earn more than the average salary for accountancy and finance professionals. Once they secure the CGMA designation, they can expect a significant increase in salary and are entitled to more benefits.
The same survey found that those with the CGMA designation took home almost double the salary of what they may have earned as a CIMA candidate with an average of £73,000 per year. This suggests that employers place a high value on the skills sets that those with CGMA bring to their organisations.
Finance jobs
If you’re searching for your next finance job, why not take a look at the latest vacancies, or simply upload your CV to be notified when a relevant position becomes available.
- How to become an accountant.
- What is the average salary for financial managers in the north west?
- 8 killer questions to ask in a finance interview.
- Interview with a finance recruitment expert.
Finance recruitment services
As specialist finance recruiters, we support businesses nationwide with their permanent recruitment needs.
Whether you’re searching for a Financial Controller, Management Accountant or Head of Finance, we will help you to find whoever you need to make your business and finances thrive.
If you’re struggling to fill a vacancy, why not get in touch with Principal Consultant, Shannon McGarry on 01772 954200 to see how we can help?
Meet Shannon McGarry
Who is Spencer Clarke Group?
Established in 2017, we’re a vibrant and progressive recruitment agency based in the heart of the North West.
We continually reimagine the recruitment process to challenge convention and defy expectations; from creating a better recruitment experience to remodelling employee engagement, we thrive off doing things differently and turning heads along the way.
We operate in two sectors:
In eleven specialisms:
Healthcare, Social Care & Nursing
Corporate Functions & Business Support
