If you want to succeed in today’s dynamic business landscape, then enrol in the certified management accountant or CMA programme at the earliest. Notably, CMA certification offers professional benefits that are not available with a regular bachelor’s degree. Typically, the programme is pursued with a bachelor's degree. Read ahead to know more about certified management accountants and how this certification can elevate your career.
Who is a CMA?
A certified management accountant not only explains ‘what’ behind the numbers, but also ‘why’. To be a CMA, one needs to register with the Institute of Management Accountants (IMA) and enrol in the CMA programme.
Further, candidates need to pass two exams, namely Financial Planning, Performance, and Analytics (Part 1) and Strategic Financial Management (Part 2) in order to gain the certification. It is to be noted that candidates need not appear and clear Part 1 before Part 2 of the CMA exam.
Available in hundreds of locations across the world, the CMA exam has three exam windows in a year. You can select an exam window depending on your preparation or knowledge gained.
While CMA certification offers many opportunities for career advancement, the average certified management accountant salary in India stands at Rs 11,00,000.
Who Should be a CMA?
If you are a financial or accounting professional who is looking forward to global recognition, career advancement or earning significantly higher, then pursuing CMA - an internationally recognised strategic thinking benchmark - can be a good idea. CMA candidates not only learn how to turn data into conversations, but also how to make important strategic business decisions using this data.
Advantages of Earning CMA Certification
Here are the benefits of pursuing CMA certification:
- Business Opportunities: This certification equips candidates with the necessary skills needed to perform well and progress in any organisation, whether it is a regional business or a multinational company.
- Career Advancement: Candidates with CMA certification are most likely to be preferred for a higher position. During the certification process, CMA candidates acquire the desirable experience and knowledge to reach an executive level, serving as financial analysts and chief financial officers.
- Gain Credibility: With a deeper understanding of numbers and finances, CMAs enjoy better status and more credibility in organisations. They can explain the business better, answer corporate financial questions well, share advice on the overall situation and shoulder greater responsibility. Undisputedly, CMAs play a vital role in company operations.
- Higher Earnings: CMA-certified professionals earn over 60% higher than their non-certified counterparts across the world, as per the data collected by the annual census.
- International Appeal: While a college degree is essential for a good job in the finance or accounting sector, having CMA certification, which is recognised worldwide, can help you easily bag opportunities in another country. Notably, CMAs in any country are known to have the same level of expertise. That is why employers don’t hesitate to bring them on board irrespective of the country.
- Industry Opportunities: CMAs can add value to any industry because financial and accounting functions are available everywhere. From engaging in the alternative energy, healthcare, and transport sectors to the technology and artificial intelligence domains, career development opportunities are endless for CMAs.
- Plethora of Positions: Pursuing the CMA programme offers a boost to professionals at all stages of their careers. Besides imparting necessary skills and knowledge, CMA certification gives candidates access to different career paths. CMAs can successfully play the role of financial analysts, accountants, operations managers and vice presidents. Additionally, they can work in different business areas like management accounting, finance, operations, sustainability, and technology. This flexibility not only brings opportunities to build a career but also enhances professional satisfaction.
Conclusion
When it comes to CMA career in India, businesses value their in-depth knowledge and strategic insight. And, this makes them indispensable assets for an organisation. If you want to acquire the CMA certification, then connect with Imarticus Learning.
