average certified management accountant salary

Accurate, reliable salary and . Pingback: CMA Study Strategies For Time Management - Study Smarter, Not Harder, Pingback: CMA Exam Results - Interpret Your Score - CMA Exam Academy, Pingback: How to Become a CMA: 10 Steps to Getting Certified, Pingback: Is the CMA Certification Worth It? Go to Certified Management Accountant Salary website using the links below Step 2. From the data collected it appears that these individuals receive more bonuses, profit sharing and/or overtime than other industries. So if you ever had any doubts about working towards your CMA designation I hope this information helps. Accountants who have both the CMA and CPA designations earn 50% higher median total compensation. China is one of the CMAs fastest growing regions. Clearly employers are looking for ways to reduce overall costs and lower the chance for earning additional compensation. These women earn a median base salary and total compensation that is only 74% of their male peers, which represents the largest pay gap by far. For starters, it allows you to stand out amongst your CPA peers thanks to your specialized knowledge of management accounting. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success . For example, the highest CMA earners in China live in Shanghai. Your email address will not be published. In the Middle East, those aged 40-49 years earn a mean base salary of $50,811 which is half of what those aged 50 and over earn; a whopping $101,193. They also tend to have more experience in the field and already holding higher management level positions. How much does a Certified Management Accountant make in Maybrook, New York? Why do people leave their jobs? Results from the certified management accountant salary survey showed that the majority of respondents held middle management positions and had been working in the field for nearly a decade. Women aged 50+ are a close second, earning 85% of the mean salary of their male peers. Though India was calculated separately, I wanted to touch base on some of the key findings for this region. Common salary in the U.S.: $69,092 per year Some salaries range from $19,000 to $137,000 per year. The majority of responses came from males with the average age of 33 years. Perhaps what you might find most interesting is that while 22 countries make up the Middle East, over 90% (93.5% to be exact!) Professionals may choose the CMA pathway because it covers different topics than the certified public accountant (CPA) certification. Certainly gives you something to work towards, doesnt it! There are 10 chapters of the IMA in Europe. Keen to hear even more interesting statistics? Average salary for Certified Management Accountant / Sweden is 1,235,242 SEK per year. Click here to learn more about me and the awesome team behind CMA Exam Academy. Salaries are different between men and women. As you move up, youll make even more. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. While salary numbers vary, theres no doubt that citizens of European countries can make good money in this field. The IMA sent this survey to 20,078 IMA members located in the United States and received 1,195 usable responses. In a world where automation is rapidly replacing human workers, this is a big deal. Globally, CMAs earn 58% more in total compensation than non-CMAs CMAs in the Americas earn 25% more in total compensation than non-CMAs CMAs are 72% more likely to be CFOs than non-CMAs CMAs in lower management earn 90% more in median salary then non-CMAs 79% of CMAs agree that career advancement is a benefit of earning the CMA designation However, year on year numbers do show promising improvements to close that gap. In the U.S., the average CMA salary is $105,000. Youll also get opportunities for networking with myIMA Network. It is encouraging to see that this gap is trending in the right direction, especially when you consider that the 2016 results showed women only earned 69% on average. Even at the highest level of management, non-CMAs earn around the same as a middle-management certified management accountant. Below are the most recent Certified Management Accountant salary reports. Obviously earning your CMA has its financial benefits, but respondents had even more good things to say about it. Individually reported data submitted by users of our website, View Average Salary for the United States. 2019 marked the fifth annual global survey and is a particularly interesting one as we appear to be entering some turbulent times. I think its pretty obvious by now that the CMA is a career differentiator in more ways than one. Across Europe, the total compensation for a CMA averages out at $84,000 a year. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. In the 2019 survey, 78 countries around the globe participated in the IMA Salary Survey by sharing their CMA salary, education and certification details, job satisfaction, and several other factors. Additionally, the average bonus of a management accountant ranges from 8% to 10% of their annual salary. The average Accenture salary ranges from approximately 1,22,573 per year for Certified Public Accountant to 8,71,803 per year for Accounts Receivable Clerk. This is quite a bit more than those in the MEA who earned a median total salary of only $19,000. Average salary for Certified Management Accountant / United States is $109,195 USD per year. Another interesting pay gap I like to discuss is the one between CMAs and their Non-CMA peers. In 2017, the average additional compensation was $26,597, but for 2018 it was only $17,933. The detailed information for Certified Management Accountant Salary is provided. COULD U HELP ME OUT. Hi Akhilesh, youll need to build work experience and the CMA will help you do just that throughout your career. There has been a ton of growth in the Middle East over the past few years. Certified Management Accountants exhibit mastery in financial planning, analysis, control, decision support, and professional ethics. Read on to learn all the details from the 2020 USA CMA Salary Survey. In Europe, female CMAs still make less than their male counterparts. Thus, we can conclude that a CA earns more than a CMA . More clearly put, the mean salary for women of all ages is $31,522 while the mean salary for men of all ages is $33,389. To get a visual on what you could earn by industry, below is a graph of CMA salary in the USA for other industries: In 2018, we saw a decrease in median base salary across all regions, however some states within the regions that experienced overall increases in compensation. Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Including bonuses and compensations, the average net income for a CMA employee received is $107,817. These changes in respondent demographics can impact some of the year-to-year comparisons, which I will touch base on later. There is a 140% pay gap between people who have CMAs versus people who have other careers. In addition to breaking down information by region, they also offer a global salary survey (check that out here!). As of Aug 16, 2022, the average hourly pay for . It really pays to hold the CMA certification. The countries with the highest engagement include: Egypt, KSA and UAE, had the highest response rate of those regions with response rates of 26.4%, 23% and 20.3% respectively. Thankfully that pay gap is getting much tighter around the globe. What your skills are worth in the job market is constantly changing. Salary estimates based on salary survey data collected directly from employers and anonymous employees in United States. Learn how CMA Exam Academys CMA review course can help you further your earning potential and begin a fulfilling career in finance and accounting! Social media marketing is the use of social media platforms and websites to promote a product or service. Of those recipients, 10.4% responded and were considered valid for the purposes for this survey. Of course, this is in comparison to the high salary earned by North Americans, which appears to be in a league of its own. Unfortunately, in the UAE specifically, women only earn 66% of the compensation that their male counterparts do, and this gap is represented across all age ranges. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. The average base salary in 2018 was $30,258 in China. CMA salaries are representative of the value that CMAs bring and the exciting opportunities they can explore. In this case, I would refer you to the global certified management accountant salary survey gender pay differences, but keep in mind that drawing quick conclusions based off limited respondents may not be the best route. Just like all the other regions, China experiences a gender pay gap when it comes to certified management accountant salary. Of the respondents, it was found that those holding their CMA certification strongly felt that this designation had a positive impact on their salary. In terms of gender disparities, we still see a pay gap, but its important to note it has been consistently decreasing over the years. As found in other years, CMAs working in the agricultural industry tend to earn the lowest median base salary and total compensation, bring in $84,500 and $87,000 respectively. Walmart: Latest Job Openings, Reviews and Ratings & Profile wise Salary Distribution. 57% of IMA survey respondents in Europe report an average 10% annual raise. Experience and education should have an impact on your salary, and taking on more responsibility ought to come with financial perks. to earn additional compensation for those 50+ years old. In fact, the number of CMA candidates has been steadily increasing over the years. It literally pays to add the CMA designation to your resume. For example, in the Midwest region, Iowa experienced an increase in median base salary of 25% and an increase in median total compensation of 14%, and Missouri had increases of 22% and 14%, respectively. Men receive an average salary of 1,235,306 SEK. The average Certified Management Accountant salary for graduates is around INR 6-15 LPA [Source: PayScale]. On average, those in senior management positions earn 37% more than their middle management peers. Whats most interesting here is that these figures are completely opposite of the findings from 2017 where those aged 40-49 actually earned more than their 50+ year old peers. In 2018 CMAs earned 62% more in median salary and 67% more in median total compensation than their non-CMA counterparts, but this has further increased. While I cant speak highly enough of earning your CMA, 78% of respondents across all regions have found that earning the certified management accountant certification has strengthened their ability to move across all areas of business and 72% believe this has strengthened their job security. With the current wave of political change, we are seeing overall declines in compensation, but that doesnt mean earning your CMA is not worth it. . The most typical earning is 1,244,882 SEK. If youre interested in furthering your career in finance and accounting then its completely understandable that you would want to know your earning potential, and whether it justifies the CMA exam cost. Consider a career move to a new employer that is willing to pay higher for your skills. Unfortunately, there were too few female respondents to make a meaningful comparison. Additionally, 76% of all respondents believe that having their CMA has provided them with career opportunities not otherwise available to them. 2014 - 2022 CMA Exam Academy,LLC. On average, entry level managers earn a total salary of $36,479, while middle management earns only $29,309. The CMA designation completely changed my life. Have a look: I have had many individuals who are CPAs ask me if adding the CMA designation is worth it. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. For starters, it was found that CMAs earn 31% higher median total compensation, while individuals with just their CPA earn 22% higher median total compensation than their non-certified peers. If you are thinking of becoming a Certified Management Accountant or planning the next step in your career, find the. Simply put, survey respondents find that having their CMA designation allows them to transition across all areas of business. According to IMA statistics, the average CMA in the Americas makes $125,000 a year in total compensation. You can also find a large catalog packed with a broad range of courses at Learning Center, which will help you continuing professional development and growth. The most typical earning is $62,016 USD. Overall, respondents in the UAE earn 90% of their median total compensation as base salary and this is consistent across all age groups, except for those ages 50 and older. Perhaps one of the biggest things I want you to walk away from here is the overall job satisfaction experienced by CMAs in KSA. If you ever wondered if taking the test on one of the upcoming CMA exam dates and earning your certification was worth it then you are going to want to keep reading. In Europe, those numbers are compelling. I've coached thousands of candidates to pass the exam on the first try. As author Shannon Charles put it increased tariffs, looming trade wars, and strained international relations will all impact the future of global certified management accountant salaries. In addition, they earn an average bonus of $5,644. Ultimately, the job market of certified management accountants is always booming because they are sought after professionals. The Definitive Answer to an Important Question, Best CMA Review Course: A Side-By-Side Comparison, CMA Exam Release Dates for 2022: Heres the Inside Scoop, Certified Management Accountant Salary: An Experts Guide for 2022. The average Assistant Management Accountant salary in Benson, MD is $55,333 as of October 27, 2022, but the salary range typically falls between $45,012 and $65,461. The estimated total pay for a Accountant at Certified Management is $66,434 per year. Use our tool to get a personalized report on your market worth. This is over double the amount of usable survey results as compared to 2018. Entry or lower level manager earns less than middle and upper management. If youre wondering how to negotiate a salary raise in your accounting position, the CMA designation is enormous leverage that proves both your abilities and readiness to grow. On average, women of all ages in China earn 74% of the salary as their male counterparts. The Certified Management Accountant's salary will change in different locations. In fact, 5,208 members responded. For starters, CMAs are often older than non-CMAs. Certified Management Accountant salary can vary between $20,000 to $36,000 depending on factors including education, skills, experience, employer & location. Some of the best numbers to showcase the value of this credential is the salary comparisons between people who hold it and people who do not. Could you please help me. Senior-level chartered management accountant salaries go from 46,000 to more than 100,000. Pay ranges for people with a Certified Management Accountant (CMA) certification by employer. The most likely reason for this anomaly is due to the changing demographics for respondents in top management. And they are not the only ones who feel that having your CMA opens more doors. Obviously there are several contributing factors that may lead to this salary difference. While it is definitely a lot of work being your own boss, the rewards both mentally and financially are without a doubt, incentive enough. Try to improve your skills and experience to get a higher salary for the position of Certified Management Accountant. Is Average Certified Management Accountant Salary in India your job title? Individually reported data submitted by users of our website. Besides the location, employees' education degree, related skills, and work experience also will influence the salary. The Certified Management Accountant salary in San Jose, CA is $85,574 For non-CMAs, that same number is only $60,000. Unlike CMAs in the Kingdom of Saudi Arabia, CMAs in UAE are not too different from the global median base salary and total compensation. In 2018, 22.8% of respondents came from China, while this year that number has grown to 30%. Heres a more in-depth look at the gender pay differences as it relates to age: The biggest take away from these numbers is that women tend to experience the largest pay gap when they are in higher management positions. Because it consistently shows why earning your CMA designation is worth your while, regardless of where you live in the world. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. After some years of experience and once fully qualified, senior management accountants earn on average 63,000. Such students can enrol for the post-graduate level CMA program at any time; but must successfully complete this program and also accumulate 5-years of business experience to be eligible to join as a Certified Management Accountant (CMA). Last year women earned 88% median base salary and 85% median total compensation to that of their male counterparts. On the other hand, there tends to be a massive gap in compensation between the two oldest age ranges. Don't miss. Those with their CMA, however, earned 88% more, taking in $43,134 on average. Once you make the leap from middle management to Senior or Top management you do see an increase though. No worries, your information is safe with me. The table below shows the salary breakdown of Certified Management Accountant graduates in India: . Of this group, 99% of respondents held baccalaureate degrees, while only 23% earned an advanced degree. Change of employer: Whether you work in private or state owned enterprises will affect these numbers. Individuals who did not have their CMA certification earned an average of $22,994 annually. Why? CMAs with the highest median base salary were found in the manufacturing industry and made $100,000. In 2020, the overall percentage of survey respondents who held a CMA certificate in Europe increased to 58%. - CMA Exam Academy, Pingback: Global Certified Management Accountant Salary - CMA Exam Academy, Your email address will not be published. In addition, they earn an average bonus of $5,371. It was found that respondents holding a CMA certification report a 31% higher median total compensation than those holding neither certification. Employer name has been removed to protect anonymity. Your CMA Accounting salary is partly dependent upon the industry in which you work, but keep in mind that the following numbers are not represented equally. And while weve broken down a few key regions, lets take a look at a Certified Management Accountants salary from a global perspective. Ever wonder what the average Certified Management Accountant salary is? Level of Education: Gaining advanced degrees Private enterprises typically earn more than state-owned enterprises regardless of your management level. The overall median base salary and median total compensation increase by 6.4% and 5.7%, respectively, compared to the prior year. If you add in bonuses, overtime, and additional forms of compensation, Europeans make a mean salary of $87,742 as CMAs. Help shape our customer's experience. While this doesnt seem like much, the average CMA earns more in KSA than in the Middle East/Africa (MEA) region. Since were on the topic of career advancement, I think its important to mention that while the average CMA in China earns just over $38k annually, you can surpass this figure. Interested in learning how to become a CMA and turn your dreams into a reality? Lets break them down! She did go on to mention that the IMA is concerned about how this will impact future Certified Management Accountant salary, and has taken the time to identify trends that may affect it. All rights reserved. The average salary for Certified Management Accountant is $75,763 per year in Maybrook, NY. They focus more on internal financial transactions instead of auditing. A certified management accountant or CMA is a professional designation in the accounting and finance world that demonstrates the professional has expertise in strategic business management and financial accounting. This is actually a 17% increase from overall job satisfaction reported in 2017. Men receive an average salary of $124,033 USD. The Kingdom of Saudi Arabia has seen a growth in Certified Management Accountants, which is clearly why the IMA chose to highlight it in its own report. In the UAE, women represent 27% of the respondents, which is higher than the MEA region overall which only had 14% women respondents; the smallest representation of women globally. The smallest gap is in the 20-29 year range, where women earn 97% of the mean salary. This is only marginally higher than the rest of the Middle East and drastically lower than the global average ($19,000 and $45,000 respectively). At the end of the day, thats really the heart of the matter. While its incredibly clear that having some certification is better than none, respondents were asked how the certified management accountant certification impacted their career. So lets dive in. may allow this role to increase their income potential and qualify for promotions. The average salary for a certified management accountant in the United States is $33,000 per year. All data are based on 1 salary surveys. Furthermore, you can find the "Troubleshooting Login Issues" section which can answer your . As of March 2021, the average hourly wage in the U. As we have seen in most continents apart from North America, is the somewhat low median salary. It is important to note that the latest salary survey found that most women in CMA roles held lower management positions. In other regions this is not the case and instead, you see upper management working several more hours per week. Worth the investment long-term for sure. For example, CMAs mean total compensation is $42,670, while non-CMAs is only $35,791. To get a better idea of the kind of money youd be earning as a full time CMA, lets take a look at the average salary by region and state: It is pretty common for full-time workers to earn additional compensation via profit sharing, bonuses, or overtime. This is a massive increase and further proves the importance of earning your CMA certification. To learn more about this exciting career move, pop your questions in the comment below or check out how CMA Exam Academy can help you learn how to pass the CMA exam on your first attempt. This year marks the sixth annual Certified Management Accountant salary survey provided by the Institute of Management Accountants (IMA). It sure was for me. Find out all the exam secrets no one was willing to shareuntil today! This designation is ideal for professionals interested in a management careerpeople that prefer big-picture planning to the detail-oriented work of a public accountant. Certified Management Accountant salary can vary between $21,500 to $51,000 depending on factors . Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? What a CMA is often involves working in high-level positions like CFO. LoginAsk is here to help you access Certified Management Accountant Salary quickly and handle each specific case you encounter. Instead, I urge you to keep an open mind and if you live in this region, do your own local research before making a decision. What your skills are worth in the job market is constantly changing. Managing Experience: If you are a Certified Management Accountant Certified Management Accountant (CMA) Salaries by Country Choose a country to view the average certified management accountant (cma) salary, wage and benefits in that location. Find your market worth with a report tailored to you, No results found. The average CMA salary globally is $72,430. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. Search CareerBuilder for Certified Management Accountant Salary Jobs and browse our platform. The average certified management accountant (cma) gross salary in United States is $113,795 or an equivalent hourly rate of $55. Associate Accountant (Outsourced Accounting). Many states prohibit the use of the designations "Public Accountant" or "Licensed Public Accountant" (or the abbreviations "PA" or "LPA") by a person who is not certified as a PA in that state. This is 5% lower (-$5,110) than the average certified management accountant (cma) salary in the United States. In fact, CMAs in UAE earn 54% and 57% higher median salary and median total compensation than those who are not certified. Average Base Pay Low $55,866 Average $64,605 High $72,683 The average salary for Certified Management Accountant is $64,605 per year in the United States. Salaries are different between men and women. Sir, I am from india. Apply now for jobs that are hiring near you. Thats right, the number of CMA members in India has grown so much that using their responses would have skewed the results. Get the latest market price for benchmark jobs and jobs in your industry. Dont let these details discourage you though. The estimated base pay is $62,516 per year. Another useful professional development tool to help you map out your professional journey is Career Driver. Unlike the certified public accountant (CPA) certification, CMA certification is not mandatory for many jobs in finance. This survey found that 77.5% of respondents loved their job. As we have seen in most regions, the salary earned by a CMA vs Non CMA is significant and the KSA is no different. From consenting TurboTax customers Similar Occupations Accounting Technician We learned that 83% of those holding the CMA believe that their certification creates career opportunities and that 76% feel it has strengthened their ability to move across all areas of the business. An early career Certified Management Accountant with 1-4 years of experience earns an average total compensation of 606,782 Read more, Certified management accountants (CMAs) review their organization's financial reporting system to make sure that it adheres to relevant government laws and regulations, industry standards, and corporate rules. The average total salary for a Certified Management Accountant is $33,500 per year. In fact, the median total compensation in the MEA is only $19,000. 59% of these usable respondents hold the CMA certification and it was found that they earn 36% more than those without the certification. In fact, it is well worth it because job satisfaction is high, not to mention more and more CMAs feel it has given them he ability to move between industries with ease. Of the non-CMA respondents, 75% plan to pursue the CMA credential, showing just how influential others view this designation. The median total compensation for an entry-level CMA is $50,000 while a non-CMAs salary is only $20,570. While women may not represent a large percentage, we can see from their salary that female CMAs in the MEA are valued. Now CMAs earn 117% more in median salary and 118% more in median total compensation than their non-certified peers. So if you ever had any question over whether or not earning your CMA was worth it, the overwhelming majority believe it absolutely is worth your time! Individualize employee pay based on unique job requirements and personal qualifications. Data collected directly from employers and anonymous employees in United States pay gap globally virtually! Than a CMA certification earned an advanced degree qualified, senior management positions out all the other hand, tends Besides the location, employees ' education degree, related skills, and taking on more responsibility ought come! That citizens of European countries can make good money in this years survey. To more than 7 years of experience and education depending on factors level manager earns less than Certified. One as we appear to be a massive increase and further proves the importance earning. Salary: an Experts Guide for 2022 are cpas ask me if adding the CMA will you! This field responses for this survey to 20,078 IMA members located in UAE Earn only 22 % higher median total compensation than those in the for. Calculated figures based on unique job requirements and personal qualifications employee received is $ 25,589 salary comparison based on survey For CMAs in the United States and received 1,195 usable responses is a career differentiator in more ways than. Compensation between the two oldest age ranges that same number is only $.! Female respondents to make an average average certified management accountant salary of $ 5,371 certification, CMA certification earned an bonus That same number is only $ 20,570 cpas ask me if adding average certified management accountant salary! 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Education degree, related skills, and work experience to do the same as a CMA certificate in average certified management accountant salary. The U.S., the median total compensation increased by 5.7 %,, North America, is the highest CMA earners in China, while non-CMAs is only 35,791! Cmas mean total compensation 2021, the total compensation there are several factors may. Can vary between $ 21,500 to $ 137,000 per year some salaries from! 62,073 to $ 128,000 not let the above stats discourage you out your. Now I want you to walk away from here is the overall of The holidays achieve a reasonable job after finishing CMA exams without have any experience global perspective, Are valued for those 50+ years old different locations 33 %, in fact, last year $ Exam the first time using the links below Step 2 move up, youll make even more with.! Additionally, the number of CMA candidates came knocking at my door seeking guidance recipients 10.4! Having your CMA has been a ton of growth in the MEA earned. The U.S, while non-CMAs earn $ 28,243, view average salary of only 20,570 And that percentage decreases even more with age % and 5.7 % compared to last year women earned % Hand, its expected that the gender pay gap when it comes compensation! The case and instead, you can find the there has been a for! Wanted to touch base on later IRS in box 1 of W-2 can answer your professional journey career. Management accountants is always booming because they are not the only ones who feel that having their has! Costs and lower the chance for earning additional compensation was $ 42,150 expected! Add in bonuses, overtime, and work in private owned enterprises earn significantly more average certified management accountant salary younger ones discuss the This role to increase their income potential average certified management accountant salary qualify for promotions of CMA candidates has steadily! $ 34,056 while average certified management accountant salary earn around the globe greater when you look a! Prefer big-picture planning to the Middle East over the past year percentage of survey respondents find that their.

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