Certified Management Accountant, or CMA, is one of the most prominent finance courses that extends proficiency in various financial domains, including financial planning, control, analysis, decision support, and professional ethics. A CMA Certification can equip you with specialised skills that can further set you on the path to explore roles like a financial accountant, budget analyst, management accountant, or even a CFO. But have you ever wondered over the question – What is the CMA Salary in India?
We’ll try to answer your questions around the average salary of CMA in India with this article.
Being one of the lesser-known courses, finance aspirants are yet to explore its potential, which is said to be highly rewarding considering the growing financial market and its emerging opportunities. However, the selection of the right career path eventually comes down to one big question. Is the path lucrative?
Before understanding more about CMA salary in India, let’s dive deep into the basics of what CMA is.
What is CMA?
A CMA (Certified Management Accountant) represents a professional credential in the financial management and management accounting fields. Granted by the Institute of Management Accountants (IMA), individuals with CMA certification often work in private firms, public firms, or government organisations to offer their financial assistance across industries. They supervise a broad assortment of tasks, including strategic planning, documenting financial data, and funding to make cognizant decisions that fuel organisational growth.
Job Responsibilities
Prepare and analyse financial statements
Create and maintain a company’s budget
Handle a company’s general ledger
Prepare and demonstrate financial reports
Make financial predictions
Prepare and study the company’s tax returns
Administer staff in finance or accounting departments
Conduct internal audits
CMA Salary in India
Since CMA-certified individuals oversee financial and accounting management for businesses, their salaries are quite rewarding. The estimated salary range for a Certified Management Accountant is between INR 1.4 LPA and INR 20 LPA, with an average of INR 6 Lakhs offered per annum in India. While the mentioned figures broadly display the CMA salary in India, there are various factors at play in deciding the exact number offered to skilled employees.
CMA Salary in India Based on Different Factors
The average salary of CMA in India depends on various factors. Let’s explore some of the most prominent ones.
i. Job profile:
After acquiring Certified Management Accountant Certification, candidates can explore various professions based on their interests and skills. The choice of job profile significantly impacts the CMA salary in India.
The following table mentions the CMA salary figures based on job profiles.
Some companies provide high salary packages, whereas others provide growth prospects to candidates. The choice of the company plays a vital role in determining the CMA salary in India. Usually, working in corporate companies is advantageous for CMAs since they provide better salary packages.
The following table indicates the CMA salary figures based on the company.
CMA’s future appears promising, considering factors like the rising need for risk management, globalisation, and the need for proficiency in managing cash flow for large firms. As the global economy accelerates towards a major shift and with businesses beginning to function internationally, the opportunities for CMA professionals are expected to rise in India.
These can actually lead your way to the highest-paying CMA salary in India.
Pursuing a US CMA course after acknowledging the CMA certification details can help you explore better job opportunities.
Conclusion
Pursuing a career as a certified management accountant comes with two key benefits, i.e., increased job opportunities and a handsome paycheck. If you aspire to work in the finance industry for years to come, the Certified Management Accountant Certification helps you to attain high-paying job roles.
Imarticus offers a US CMA course that is bound to set your finance career on the road to success. With guidance from industry experts, you’ll be ready to explore the dynamic world of finance in no time!
When a company reports record profits or nails a major acquisition, the headlines usually celebrate the CEO or investors. Rarely does anyone mention the quiet professionals who shaped those financial strategies behind the scenes.
Those people are often CMAs. They’re the invisible architects of corporate decision-making. Professionals who don’t just record what happened, but help define what should happen next.
That’s exactly where the CMA Certification (Certified Management Accountant) steps in.
In 2025, the global demand for CMAs hit a new record, especially across India, the UAE, and Singapore, where multinational firms are scaling finance operations post-AI disruption. According to the IMA’s 2023 Global Salary Survey, CMA-certified professionals earned 58% higher salaries than their non-certified peers.
So, if you’ve been wondering things like:
Is the CMA certification really worth it in India? What are its actual benefits and downsides? Should I choose the US CMA or the Indian CMA?
You’re asking the right questions. And that’s exactly what we’ll unpack in this article – what the CMA Certification really is, how it compares with other qualifications like CA and CPA, how much it costs, the career paths it opens, and yes, whether it’s genuinely worth your time, money, and effort.
What Is the CMA Certification?
The CMA Certification is awarded by the Institute of Management Accountants (IMA), USA, a globally recognised body with over 150,000 members in 150+ countries.
Unlike CPA or CA, which focus heavily on accounting compliance, CMA focuses on strategic financial management, budgeting, analytics, cost management, and decision-making.
Here’s a Simple Example:
Imagine two professionals working in a company –
Rahul, a CA, prepares the company’s financial statements and ensures they meet all legal and tax requirements.
Sneha, a CMA, takes those statements and says, “Our operating costs are 12% higher this quarter because our logistics expenses spiked in the north zone. If we shift part of our distribution to a third-party partner, we could save ₹80 lakh annually.”
Rahul ensures compliance, while Sneha drives profitability.
That’s the essence of what is CMA and what they do; they don’t just crunch numbers, they shift one’s mindset from compliance to profitability and strategy that move a business forward.
Aspect
CMA USA
CA (India)
CPA (US)
Focus
Management & Strategy
Auditing & Taxation
Accounting & Regulation
Duration
6-12 months (flexible)
3-5 years
1.5-2 years
Exam Parts
2 parts
3 levels
4 parts
Global Recognition
🌎 High
🇮🇳 National
🌎 High
Ideal Career Path
Corporate Finance, FP&A, CFO roles
Accounting, Audit, Tax
Audit, Compliance
Watch this video that breaks down the real benefits of the CMA-US certification: what job roles it opens up and whether it’s the right career move for you.
A Brief Look at Tangible Returns: Career & Global Mobility
When you invest your time and effort into a certification, the real question isn’t just “what’s the salary?” – it’s “how far can this take me?” The CMA certification answers that in clear, measurable ways. On average, professionals with the US CMA credential earn 35–50% higher salaries than their non-certified peers in India, and up to $100,000+ globally, according to the IMA Global Salary Survey.
But beyond the paycheque, it’s the quality of roles that changes. CMAs move from routine accounting to decision-making positions in
FP&A
Corporate Finance
Business Strategy
Within five years, many transition from analyst roles to managerial or controller-level positions, a leap that usually takes others nearly twice as long.
But the real magic of the CMA lies in what it unlocks beyond borders. Think of it as a global passport for finance careers. While Indian CMAs largely work within domestic regulations, the US CMA gives you mobility – recognition in 100+ countries, and access to roles across MNCs, Big Four firms, and tech-driven startups worldwide.
Employers value CMAs because they think like business partners, as professionals who understand numbers and the narrative behind them. In short, CMA doesn’t just grow your income; it expands your map.
CMA in India: Is It Worth It?
If you’re in India, here’s the truth: the CMA US credential is gaining massive traction.
In 2025, companies like Accenture, Deloitte, and Amazon actively hired CMA-certified analysts for FP&A, cost control, and business partnering roles.
Why It Works in India:
Indian companies are now more global. They need people trained in US GAAP, IFRS, and analytics.
CMA brings international credibility, unlike CMA India, which has more local recognition.
With India’s CFO market expanding by 22% YoY, CMAs are preferred for strategy-aligned finance roles.
In this video, get an honest rundown of the challenge level of the CMA (US) exam, real-talk on how much effort it takes, and why it’s entirely achievable if you’re committed.
CMA Advantages and Disadvantages
Like any qualification, the CMA has its pros and cons. It’s not a golden ticket that guarantees success, but if your goals align with what the CMA certification benefits, it can really speed up your career growth.
There is more than one reason to get your CMA certification. The good part? It can open doors to global opportunities, better pay, and roles where you’re part of real business decisions, not just managing numbers. But it’s also demanding. You’ll need to put in serious study hours, stay consistent, and build a solid understanding of finance to get through the two exams.
Before jumping in, it’s worth taking a balanced look at what makes the CMA such a strong career move, and where it might not be the perfect fit for everyone.
Advantages of CMA Certification
✅ Global Recognition: Accepted in over 100 countries. ✅ Career Mobility: Move from accounting to management roles easily. ✅ Faster Completion: Can be done in under a year. ✅ Salary Uplift: Significant jump in compensation and leadership exposure. ✅ Future-Proof Skills: Aligns with data-driven finance and automation trends.
Disadvantages of CMA Certification
❌ Costly: Average total cost can reach ₹3 lakh with coaching. ❌ Challenging Exam: Global pass rate hovers around 45-50%. ❌ Less Relevance for Non-Finance Roles: If you’re shifting to marketing, tech, or HR, CMA adds little value.
The CMA Journey: Course Structure and Fees
The CMA Certification is built for professionals who want to move from accounting to strategic finance. It’s a two-part program that tests how well you can apply financial data to real-world business decisions.
What’s interesting is how compact yet globally rigorous it is: most candidates complete it within 12–18 months, while balancing full-time jobs. The standout factor is the return on learning: the CMA syllabus builds the bridge between accounting and management, a combination that directly translates into higher-value roles like FP&A, business finance, and strategy.
CMA Course Overview
The CMA exam is divided into two parts, testing both operational and strategic expertise.
Part
Topics Covered
Weightage
Part 1: Financial Planning, Performance, and Analytics
Cost management, budgeting, variance analysis, data analytics
The CMA certification course fees range from $1,000 to 2,000 in 2025. That’s around ₹85,000 to ₹1.6 lakh, depending on exchange rates. You’re paying for IMA membership, entrance fees, and the two exam registrations. They don’t take it all at once. You pay in stages as you register for different parts.
Component
Fee (USD)
Equivalent (INR)
IMA Membership (Annual)
$145
₹12,000
Entrance Fee
$280
₹23,000
Exam Registration (2 parts)
$830
₹69,000
Study Materials & Coaching
$1,000–$2,000
₹80,000–₹1.6 lakh
Total Estimated Cost
$2,000–$3,500
₹1.7–2.9 lakh
CMA Salary in India and Abroad: What’s the ROI?
You really start to see the benefits of a CMA certification once you enter the job market. In India, CMAs are partaking in key business discussions and shaping strategy. From multinational companies to consulting firms and startups, employers are looking for professionals who can read the story behind the numbers and turn it into action. This is reflected in the CMA salary in India.
The difference shows up in the pay, too. As per the IMA Global Salary Survey, CMAs in India earn around 58% more than those without the certification. Mid-level professionals usually make between ₹12–20 lakhs a year, while senior positions can cross ₹30 lakhs. The global picture is just as strong. CMAs in the US typically earn between $90,000 and $120,000, and in the UAE, salaries often fall in the AED 250,000–300,000 range.
Region
Average Annual Salary (2025)
Source
India
₹14-24 LPA
IMA Salary Survey 2025
USA
$90,000-$110,000
Glassdoor
Middle East
$60,000-$80,000
PwC Gulf Salary Guide
Singapore
SGD 120,000
Michael Page Salary Report
📈 A CMA in India typically earns 35–50% higher than a non-certified finance professional in the same role.
US CMA vs Indian CMA: Which One Should You Choose?
The US CMA prepares you for global roles where strategy, performance, and decision-making take centre stage. The Indian CMA, on the other hand, is rooted in cost control, compliance, and financial accuracy within Indian regulations.
Think of it like this. The US CMA helps you understand why a company performs the way it does, while the Indian CMA focuses on how to make that performance more efficient. Both paths lead to respected careers, but they cater to very different goals.
Here’s a simple breakdown to help you see the difference clearly:
Parameter
US CMA
CMA India
Governing Body
IMA (USA)
ICMAI (India)
Recognition
Global
National
Exam Parts
2
3
Focus
Management & Analytics
Cost Accounting
Duration
6-12 months
2-3 years
Ideal Career
MNCs, Corporate Strategy, FP&A
Indian PSUs, Cost Audit
🎯 If your career goal is to work in MNCs, startups, or abroad, choose the US CMA. If your interest lies in Indian public enterprises or domestic accounting, CMA India may fit better.
Is CMA Worth It After CPA, CA, or MBA?
If you already hold a CA, CPA, or MBA, CMA adds strategic and global depth.
After CA: CMA brings management orientation and analytics capability.
After MBA: Strengthens your financial decision-making credibility.
After CPA: Adds the strategic finance layer to an accounting background.
💬 As a mentor, I often tell my students that CA gives you the foundation, but CMA gives you the direction.
CMA Certification: Exam Pattern and Difficulty Level
Each exam part has 100 MCQs + 2 essay scenarios, testing your ability to think, not memorise.
Focus on decision analysis and ethics; most overlooked but high-weightage areas.
Real-World Career Examples: Where CMAs Work
CMA professionals are found in diverse sectors like tech, manufacturing, BFSI, and consulting.
Industry
Roles for CMAs
Top Employers
IT & Tech
FP&A Analyst, Business Controller
Amazon, Microsoft, TCS
Manufacturing
Cost Controller, Plant Finance Head
Larsen & Toubro, Siemens
Consulting
Financial Strategist, Risk Consultant
Deloitte, PwC, EY
Banking & FinTech
Treasury Analyst, Product Finance
HDFC, Razorpay, Paytm
CMA Salary Growth Over Time
The true value of the CMA Certification unfolds over time, not in the first payslip, but in the career trajectory it builds. Most CMAs don’t start at sky-high salaries; they grow into them. The certification acts like a career multiplier. The deeper you go into management decision-making, the steeper your salary curve becomes.
Experience Level
Average Salary (India)
0–2 years
₹8–12 LPA
3–5 years
₹14–20 LPA
6–10 years
₹25–35 LPA
10+ years
₹40 LPA+ (CFO/Controller roles)
👉 CMAs often move into senior finance roles within 4–5 years, compared to 7–8 years for non-certified peers.
Why Choose Imarticus Learning for the US CMA Course?
When you decide to pursue the US CMA certification, who you learn with matters just as much as what you learn. At Imarticus Learning, you’re not just signing up for exam preparation; you’re entering a full‐fledged launchpad built for global finance roles. Here’s what you will get from this course:
Industry-Aligned Curriculum: Imarticus has partnered with KPMG in India and uses globally recognised content (via Surgent) with an 83 % pass-rate backing.
Money-Back Guarantee: They stand behind their program. If you don’t clear both CMA exam parts under their terms, you’re eligible for a 50 % refund of the course fee.
Placement & Career Support: Beyond the exam, there’s a pre-placement boot camp, resume/interview prep, and assured interview opportunities with global firms, giving you hands-on career launch support.
High-Impact Modules: Real-world case studies (23 curated by KPMG), live expert sessions, tailored materials aligned with global roles, not just exam “drill”.
Global Recognition, Local Relevance: Imarticus is India’s first & only authorised prep provider for top finance credentials (US CMA, US CPA, ACCA, etc.).
Clear Career Outcomes: Salary ranges and job roles are laid out (e.g. ₹8 LPA–₹18 LPA for entry‐level CMA roles in India) so you have realistic expectations.
FAQs on CMA Certification
When it comes to the CMA Certification, it’s natural to have practical questions. How long does it take to complete? What are the costs involved? What kind of jobs and salaries can you expect? And how does it compare to other finance qualifications?
This section answers these questions clearly and directly. It’s designed to give you real insight into the certification, its benefits, and challenges, so you can decide if it aligns with your career goals without any confusion or guesswork.
What is a CMA Certification?
CMA is a Certified Management Accountant. It’s from the Institute of Management Accountants in the US. Covers financial planning, cost management, performance tracking, and business strategy. You’re not just doing bookkeeping, you’re helping companies make decisions using financial data.
For Indians in finance, a US CMA gets you into international jobs. Corporate finance, FP&A, strategy roles. Two exams total. Amazon, Deloitte, and Accenture hire CMAs because they connect finance to business outcomes.
Is CMA higher than CA?
Different things. CA is tax, audit, and compliance. Statutory stuff. CMA is management accounting, planning, and strategic decisions. Depends on what you’re after.
Globally, CMAs do strategy. CAs do technical accounting and tax. Some Indians do both. If you want CFO roles or international finance leadership, CMA has more management weight.
Which is higher, CPA or CMA?
Neither’s higher. CPA is external auditing, tax, and financial reporting. Compliance focus. CMA is internal – cost control, performance, and financial analysis. They work together in companies. CPA makes sure things are legal and accurate. CMA focuses on making money and strategy.
Corporate finance or FP&A? CMA’s better. Public accounting in the US? Need a CPA. Lots of CFOs have both.
What is CMA in salary?
India: ₹8–24 lakhs depending on experience and company. Senior CMAs in MNCs can hit ₹30+ lakhs. Globally, it averages $100k, often with 20% bonuses.
IMA data shows CMAs earn 58% more than people without it. Pretty good ROI.
Is CMA hard to pass?
Yeah, it’s hard. Two exams. Financial reporting, performance management, cost control, and strategy. Pass rate around 45–50%. Same ballpark as CPA or CFA. It tests how you think, not what you memorise.
With Imarticus Learning’s expert-led CMA prep, students get structured study plans, practice mocks, and guided mentoring, making the journey smoother and far more achievable within 6–9 months per part.
Is CMA a government job?
No. It’s a credential. But it helps you get finance jobs in the government or private sector. Some PSUs like BHEL, ONGC, Railways, hire CMAs for cost accounting, budgeting, and audit.
CMA India (ICMAI) is separate. US CMA mostly gets you private sector work in multinationals. Not a government job itself, but it opens doors in both sectors.
How many years to complete CMA?
12–18 months usually. Two exams, so it depends on how hard you work. Working people often finish in a year, doing 10–12 hours weekly. Exam windows are flexible, so you can work around your schedule.
IMA gives you three years max. Structured programs help people finish faster.
Who is eligible to do CMA?
Anyone with a bachelor’s degree (in any stream) can pursue the US CMA certification. You can even start the exams before graduating and complete the two years of relevant work experience later.
For Indian students, this flexibility is a big plus — especially with the CMA program in collaboration with KPMG in India offered by Imarticus Learning. The structured guidance helps you meet eligibility requirements, prepare effectively, and build real-world finance skills along the way.
Which degree is best for CMA?
No specific requirement, but commerce, accounting, finance, and economics help. B.Com, BBA Finance, MBA give you a base. Engineers do fine if they’re decent with numbers and willing to learn.
Experience matters more than the degree. BBA Finance plus CMA gets you into FP&A or business analysis. CA plus CMA is a CFO track.
How many exams are in CMA?
There are two parts.
Part 1: Financial Planning, Performance, Analytics Part 2: Strategic Financial Management
100 multiple choice plus two essays each. Take them in any order. Three windows yearly: Jan–Feb, May–Jun, Sep–Oct. Most finish both in a year.
A quick way to get a global credential without years of study.
Is CMA in demand?
Yes. India’s seen a 25% demand increase. Companies want data-driven decisions, so they need CMAs for FP&A, cost control, finance management, and CFO positions.
EY, KPMG, Deloitte, Genpact, and Amazon all hire US CMAs. They want people who link accounting to strategy. Financial planning keeps showing up as a critical skill. Demand’s growing.
Is CMA tougher than MBA?
Different. CMA is technical, finance, analytics, and strategy-heavy. For people good with numbers. MBA is broader. Marketing, HR, operations, plus finance.
Lots of people do both. MBA for leadership, CMA for finance depth. CMA is two exams versus two years, but more concentrated. CMA’s harder on finance specifics, MBA’s wider. Both together can get you to senior management or the CFO faster.
Bringing It All Together
Here’s the honest mentor take: CMA isn’t for everyone, but if you love strategic thinking, want to lead business decisions, and are ready to invest a few months of effort, it’s absolutely worth it.
It bridges the gap between accounting and strategy, data and decision, and India and the world.
💡 So, whether you’re a fresh graduate or mid-level finance professional, 2025 might be your best time to pursue the CMA certification.
In the competitive finance and accounting world, professionals constantly seek ways to stand out from the crowd and advance their careers.
One surefire way to achieve this is by obtaining a Certified Management Accountant (CMA) certification. The Certified Management Accountant (CMA) qualification is a badge of honor.
Let’s begin the fascinating adventure of comprehending the value of a CMA certification and its spectacular influence on your earnings and employment opportunities.
What is CMA Certification?
Before we dive into the benefits, let’s first understand what CMA certification is all about.
The Certified Management Accountant (CMA) is a sought designation that shines brighter than a thousand stars in the exciting world of finance and accounting. This esteemed achievement award is more than just a frill for your resume; it’s a magical key that opens the door to limitless chances in management accounting and financial management.
You acquire a title when you become a CMA and search for knowledge that spans a mind-boggling array of abilities. Imagine yourself donning the financial planning cape, brandishing the analytical sword, and mastering the art of decision support while adhering to the code of professional ethics with uncompromising integrity.
Despite the difficulties in becoming a CMA, the benefits are immeasurable. Are you prepared to take control of your future, harness the power of knowledge, and shine the bright light of the Certified Management Accountant (CMA) certificate into it?
You have a decision, and the adventure is waiting!
How does CMA certification affect salary and job prospects?
For individuals seeking competence in management accounting and financial management, the USA CMA (Certified Management Accountant) Exam is a demanding and well-recognized certification exam.
USA CMA Exam, given by the Institute of Management Accountants (IMA), is intended to evaluate applicants’ knowledge, abilities, and aptitude in crucial areas of accounting and finance, including financial reporting, planning, analysis, control, decision-making, and professional ethics.
Embracing a CMA certification opens doors to exciting opportunities for salary growth in the accounting and finance industry.
Gaining In-Depth Knowledge and Expertise
Achieving a Certified Management Accountant certification demands commitment and diligence, yet the benefits are invaluable. The extensive CMA curriculum delves into various subjects, such as financial planning, analysis, control, decision support, and professional ethics. As you immerse yourself in the coursework, you’ll gain profound comprehension and proficiency that surpasses the usual accounting methods.
Standing Out in the Job Market
A CMA certification sets you apart in today’s competitive job market. Employers highly value this credential as it signifies a commitment to excellence and a strong understanding of financial management principles. The CMA designation gives you a competitive edge whether you want to advance within your current organization or explore new opportunities.
A Global Passport to Success
One of the most significant advantages of the CMA certification is its global recognition. As businesses continue to expand across borders, employers seek professionals who can navigate the complexities of international finance. The CMA designation acts as a global passport, opening doors to job opportunities in various countries and increasing your marketability worldwide.
Influence on Salary
It’s no secret that career advancement often comes hand-in-hand with a salary increase. Studies have shown that CMAs earn significantly higher salaries than their non-certified counterparts. The specialized skills and knowledge gained through the CMA program enable professionals to take on more challenging roles, leading to greater financial rewards.
Enhanced Job Prospects
The CMA certification boosts your earning potential and widens your career prospects. CMAs are sought after by diverse industries, including manufacturing, technology, healthcare, and financial services. The versatility of this designation means you can explore various industries and find the perfect fit for your career goals.
A Network of Opportunities
Becoming a CMA connects you with a vast network of like-minded professionals. The IMA provides access to a thriving community of CMAs, offering networking events, online forums, and professional development opportunities. Building meaningful connections within this network can lead to potential job offers, mentorship, and invaluable industry insights.
Confidence in Decision-Making
A CMA certification boosts your technical skills and hones your strategic thinking abilities. As a management accountant, you’ll be equipped to analyze financial data and provide insights that drive sound business decisions. This newfound confidence in decision-making is invaluable, allowing you to contribute significantly to your organization’s success.
Career Advancement and Growth
Career stagnation is a common concern for many professionals, but obtaining a CMA certification can break down these barriers. With technical expertise and strategic insight, CMAs are often considered for leadership positions within their organizations. Whether you aim to become a finance manager, a controller, or CFO, the CMA certification can catalyze your career advancement.
Making a Difference
Beyond personal and financial growth, the CMA certification empowers you to make a difference in your organization. As a management accountant, your role involves managing financial resources and contributing to sustainable business practices and ethical decision-making. This sense of purpose and responsibility adds depth and meaning to your professional journey.
The Final Words
The value of a CMA certification goes far beyond the letters after your name. It represents a commitment to continuous learning, a dedication to excellence, and a desire to make a positive impact in finance and accounting. From enhanced job prospects to increased earning potential, obtaining the CMA designation can unlock opportunities and open doors to a fulfilling and rewarding career.
A CMA certification has several perks, and one of the most important ones is how much better off you’ll be financially. The income potential of professionals who achieve the CMA credential frequently increases significantly. Employers strongly respect the particular knowledge and experience that come with the CMA certification, which increases job candidates’ competitiveness.
Imarticus Learning propels learners into endless possibilities upon attaining the CMA certification. Adopting this prestigious accreditation opens opportunities to work with Fortune 500 firms, opening the path to rewarding careers in worldwide management and accounting.
So, if you want to take your finance career to new heights, consider embarking on the CMA journey—it might just be the key to your professional success!
Getting a CMA or Certified Management Accountant Certification is in high demand. It is a perfect certification course if an aspirant wants to take up a leadership role in a business.
The credentials for CMA certification are issued by the Institute of Management Accountants (IMA), which has been globally recognised for over 50 years. The certification holds excellent value, and recruiters worldwide look for candidates who have this degree.
In this article, let’s know in detail how to get a CMA certification alongside its examination preparations with a detailed curriculum.
What is CMA?
A Cost Management Accounting (CMA) is a certificate course where the designation of CMA is provided to its qualifiers. This certification is a gateway to providing a lucrative career in business accounting.
The CMA functions on 4 pillars of knowledge. They are Regulatory Framework, Strategy, Financial Reporting and Management. Three levels of the CMA exam are:
CMA Foundation (Level 1)
CMA Intermediate (Level 2)
CMA Final (Level 3)
CMA Career Path
Becoming and acquiring a CMA certification is often termed a lofty goal. The market offers a wealth of fantastic chances for those with the necessary leadership qualities in business and finance. Government organisations, publicly traded companies, privately held companies, and distinguished corporate roles offer numerous employment options for certified management accountants. Here is a detailed career path to acquire a CMA certification.
Staff Accountant: Entry-Level CMA Position
The majority of accounting professionals begin their careers in entry-level positions. One such employment would be a Staff Accountant, an excellent way to gain the expertise you need to become a CMA. Typical jobs for beginning accountants include ledger reconciliations, bookkeeping, and fundamental accounting procedures.
Financial Analyst (1-3 Years of Experience)
You should already have some accounting experience to qualify as a financial analyst. You have to carry out the following accounting tasks:
Create forecasts and reports
Analyse both recent and historical financial data
Calculate depreciation and capital expenses
Locate and evaluate investment possibilities
Create profit plans
Overseeing the yearly and quarterly budgeting procedures
Create a monthly report
Accounting Manager (2-5 Years of Experience)
You might be qualified to apply for an accounting manager post after your first few years in accounting. Your first real people management position may be in accounting management, which is a terrific first step toward financial leadership positions.
These kinds of tasks could be carried out by accounting managers:
Create budgets
Monitor compliance
Track your spending
Accounting obligations
Control procedures
Control teams and persons
Report writing and presentation
Implement accounting procedures
Observe and evaluate data
Oversee daily accounting activities
CMA Exam Prep and Curriculum
You only need to be an IMA member and pay the CMA entrance fee to take the CMA Exam. Thereafter, you have to sign up for the CMA exam after joining the IMA.
The CMA exam consists of two sections. For each section, you need a 360 or above to pass.
Exam pattern: There are two sections to the CMA exam. There are two essay questions and multiple-choice questions on the test. The multiple-choice questions will consist of three hours, and the essays will take one hour. The exam becomes difficult at each level.
Certificate requirements: A bachelor’s degree from an approved university is one of the prerequisites for the CMA, albeit it doesn’t have to be in finance or accounting. Some professional certifications are also accepted by the IMA in place of this requirement.
Finally, you must have two years of stable job experience in management accounting or financial management before you may apply for a CMA certificate. After completing the CMA test, candidates have up to seven years to fulfil this requirement. You will use your IMA account to submit documentation and apply for your CMA certificate once you have passed the CMA exam and finished two years of employment.
Testing windows: There are three examination windows for the CMA exam. You can take the CMA exam each year at any of the following testing windows:
Testing Window 1: January-February
Testing Window 2: May-June
Testing Window 3: September-October
Conclusion
The CMA course is extremely prestigious and has now become a mandate in many companies. This will not only upgrade your career in a management position but also provide the aspirants with real-life experience to tackle problems.
To learn more about CMA certification, check out the Imarticus Learnings Certified Management Accountant course or the CMA course. It is a completely online programme, where experts from all around the world help you out with real-life CMA problems.
The accounting and finance industry is growing rapidly. Professionals in this field must stick to the latest trends and technologies to stay competitive. One way to improve your expertise and career options is CMA (Certified Management Accountant) certification.
CMA certification is a globally recognized accounting certification that proves your financial knowledge and skills.
This article will explore CMA certification, its benefits, the CMA certification courses, etc. Stay with us on this journey and get the right knowledge about your career in CMA.
What is CMA Certification?
CMA (Certified Management Accountant) certification is a professional certification for management accountants. It is a certification that gives strong knowledge of financial planning, analysis, control, decision-making, and professional values.
To be qualified for CMA certification, you should have a bachelor’s degree or a professional accounting certification. You should also have two years of professional experience in financial management. Besides this, you must also pass both parts of the CMA exam.
The exam covers risk management, financial planning, analytics, cost management, investment decisions, professional ethics, and more.
CMA certification has multiple benefits in the accounting and finance professions. The benefits include:
Increased earning potential
More career opportunities
Enhanced professional credibility
Improved skills and knowledge and more
The certification benefits you if you want to pursue a career in corporate finance, financial planning and analysis, internal auditing, and other related fields.
Benefits of Having a CMA Certification
A CMA (Certified Management Accountant) certificate can offer a range of benefits to individuals in the accounting and finance professions. Here are some benefits of obtaining CMA certification:
Business Appeal
The CMA certification is a helpful investment for your career in accounting and finance. It proves your expertise in this field and provides vast business and accounting knowledge.
This knowledge allows you to make informed decisions and play an active role in the industry. You can improve your business appeal and be a trusted member of an organization by obtaining a CMA certificate.
Increased Earning Potential
It is a globally recognized certificate that employers positively value. You can earn higher salaries and better bonus packages with a CMA certificate. Studies have found that a CMA holder makes about 67% more than other candidates who do not have a CMA certificate.
Greater Career Opportunities
It provides global career opportunities because of its great demand. It might help you fulfil your dream of making a career in a foreign country.
With this certificate, you can apply for a job in European and Middle Eastern countries and receive a hefty salary package. It opens up many career opportunities in corporate finance, financial planning, analysis, etc.
Other Benefits
CMA certification offers multiple benefits. Some other benefits of certification include enhancing professional credibility, improving knowledge and skills, networking opportunities, etc.
CMA Course Process
To get a CMA (Certified Management Accountant) certification, you must complete a course that covers the necessary accounting and financial management topics. The CMA course process generally involves the following steps:
Choose a CMA Course Provider: Choose a reputable CMA course provider to prepare for the CMA exam.
Enrol in the Course: After selecting a course provider, you can enrol in the course of your choice.
Complete the Course: Candidates must complete the course and study all the topics covered in the CMA exam.
Practice with Mock Exams: To prepare for the CMA exam, candidates must practice with mock exams to identify improvement areas.
Take the CMA Exam: Once candidates have completed the course and feel prepared, they can register for and take the CMA exam.
There are several CMA course providers available such as Imarticus’s CMA courses. Imarticus provides one of the best accounting and finance courses with study materials, video lectures, and mock exams to help you prepare.
CMA Course Details
Here are some essential details of the CMA (Certified Management Accountant) course in India:
Course Name
Course Provider
Course Level
Total Number of Papers
Course Duration
Average Salary
Job Profiles
Certified Management Accounting Course
Imarticus Learning
Foundation, Intermediate, and Final
20
2 – 3 Years
6 Lacs annually
Financial analyst, Budget analyst, cost controller, financial officer, accountant, etc.
Final Words
Getting a CMA (Certified Management Accountant) certification can provide multiple advantages in the accounting and finance industry, including career growth, competitive advantage, and access to a global professional network.
By enrolling in a reputable course such as the Imarticus CMA course, you can enhance your career opportunities and become a trusted member of an organization.
Budgeting and forecasting are two of the most important management accounting tools. These tools are generally used to plan and control the finances of any business.
Budgeting is a tool that creates financial targets for the future and also makes plans that can easily achieve those targets. This tool can easily foresee revenue, and expenses as well as allocate resources. Budgeting assists any small and big venture to prioritise their spending, use their resources effectively, and successfully achieve their final goals.
Forecasting, on other hand, is a tool that foresees the future financial performances of any venture. It predicts the future by deeply analysing past and present performances. This helps to avoid potential risks and open alluring opportunities for the business. It also helps to make profitable investments and manages a company’s finances proactively.
Budgeting and forecasting are essential concepts in the US CMA program, a top-level management accounting certification recognised by more than 170 countries. Hence, it is always essential to incorporate budgeting and forecasting into the curriculum of a preparatory program for the CMA certification.
Importance of Budgeting and Forecasting
There are plenty of benefits to budgeting and forecasting in management accounting. Any proper CMA program will introduce the benefits as it is an extremely essential lesson. These advantages have been precisely enlisted below:
An efficient budgeting and forecasting plan allows any business to create accurate business analytics along with financial reports. These tools are essential in a competitive market where adversaries are increasing rapidly. It assists the venture to grow and yield more revenue.
Adopting an effective budgeting and forecasting plan for account management can create more explicit plans without any serious errors. These tools have been proven to be more helpful in a competitive market as they save time and allow collaboration. Such characteristics of budgeting and forecasting are extremely favourable for generating a more regulated management culture at any company.
It can easily foresee potential threats and risks in the initial phase. Subsequently, they help to eradicate that problem before it turns into a grave situation.
Budgeting and forecasting develop generic plans that support a venture with its growth. Apart from that it also creates an expenditure list that allows any organisation to spend wisely and save capital.
It also helps to pitch potential investors with past data analytics and sources of the company.
With the assistance of budgeting and forecasting any organisation can create an intense connection between finance and operational plans.
To become a CMA one needs to have a vivid knowledge of budgeting and forecasting. Apart from that a Certified Management Accountant (CMA) must ace tasks like auditing, analysing budgets, organising tax returns, etc.
All the aspirants must take the CMA exam after completing the online CMA course. This examination is generally conducted by the Institute of Management Accountants (IMA).
Issues Organisations have to face while working with Budgeting and Forecasting tools.
Budgeting and forecasting tools are accompanied by several challenges or issues. Every company has its way to use and implement these tools in its business. However, they might face similar problems while working with it.
Here are a few challenges that a company might face while using budgeting and forecasting:
Businesses at times are incapable of finding any purpose in creating a budget. Hence, they show the least commitment to generating a budget as they have more important tasks to complete.
After choosing a particular budget a company has to go through many manual works. Hence, the procedure becomes quite time-consuming and may end up creating erroneous data.
Often it is quite difficult to create a budget as organisations lack transparency of data and processes. The data are compact and clear only at the department level. When it comes to a larger aspect the data seems to be vague.
When it comes to forecasting many ventures take weeks to predict and create an effective budget. This creates chaos and data becomes irrelevant by the time a proper budget is forecasted.
Difference between Budgeting and Forecasting
Budgeting and forecasting are often used together but there are plenty of differences between them. These differences have been stated down below:
The first key difference is the purpose. Both have different purposes. Budgeting is used to create a plan that a company would follow for a year or months.
While forecasting is used to figure out whether the budget would be successful within the allocated period.
Both of these tools use very different methodologies. Budgeting generally observes past data to generate a realistic goal. Whereas, forecasting focuses more on present trends to see whether a budget can reach its goal.
Budgeting is a broader field that encompasses various things like financial position, cost, profit, revenue, etc. On the other hand, forecasting just deals with revenue and expenses. Therefore, it is a narrower aspect.
Budgeting is a long-term process that may lead to rapid changes in a company. While forecasting is a short-time process and does not contribute to any rapid changes.
Budgeting consists of specific numbers or values that a company wants to achieve. Therefore, it consists of a lot of numbers like revenue generated, loss faced, and units sold.
Whereas, forecasting consists of predictions which are generally written in numerals, statistics and percentages.
Conclusion
Budgeting and forecasting are the basic fundamental knowledge one must possess to become a CMA. Imarticus Learning has brought an excellent accounting and finance certification course for CMA aspirants.
This online US CMA program is handled by qualified experts who will provide a learner with enough study materials. This CMA certification course will roughly take a period of 6 to 9 months and offers guaranteed placements at top-notch companies. So without any further delay get yourself enrolled in this CMA course to bag alluring opportunities.
Certified Management Accountants (CMAs) play an important role in the financial and strategic decision-making of businesses. They are considered better for management positions. It is because of their knowledge of strategic decision-making. CMA Certification Course helps learners make critical financial decisions in businesses. CMAs specialize in mixing accounting and financial knowledge. These provide ample career opportunities when it comes to job change and growth.
According to a study of IMA, about 87% of certified management accountants report that CMA Certification Course helped them to become more versatile. It gives them an advantage over other accountants with certification.
High demand
The demand for CMAs has increased in recent times. The financial risks in the globalized world have increased tenfold. The demand has also increased because of the highly practical nature of the CMA Certification Course. The demand for CMAs is across
public companies,
private businesses, and
government enterprises.
High salary
The overall percentage of salaries of certified management accountants has increased significantly in the last few years. They earn about 67% more than their non-certified peers. The global median salary remains largely on the higher side.
In India, the average salary of CMAs is 17 lakh per annum. Also, the competitive salary is continuously increasing. The highest salary that has been recorded is 21 lakh per annum. On a global level, the median salary of CMA was 60,000 dollars in 2022. Whereas, the average global salary is around 72,430 dollars.
Job security
A CMA Certification Course helps the learners to have job security. It makes them more secure when it comes to jobs. It also made them more job-agile. CMAs have skills related to financial planning and analytics. It makes them indispensable in businesses. Their skills in strategic planning give them the flexibility to switch to management roles.
Increases financial skills
CMAs are known for their accurate knowledge which makes them credible in the industry. It also gives them relevant skills in finances and management processes. They are also knowledgeable in fields such as
budget analysis,
budget planning,
risk management, and
investment decisions.
It gives them the upper hand when it comes to financial decision-making. They get more meaningful job profiles because of their profound financial skills and knowledge.
Career Options After Graduation from a CMA Certification Course
Various job profiles await the learners after completion of the CMA Certification course. There are benefits such as job security and salary growth. Here are the high-profile career options after graduation:
Management accountant: The job profile includes duties like providing financial data. It also includes giving financial advice for development and growth.
Cost accountant: The job of a cost accountant is to record the incurred costs. It helps to improve management for greater efficiency.
Treasurer: Treasurer manages the financial liabilities and assets of the businesses.
Finance controller: A finance controller is responsible for handling the day-to-day financial operations.
Head of Finance: The Head of Finance is responsible for all the financial activities of a business. They deal with forecasting, budgets, risk management and reports.
Cost controller: Cost controller helps a business to manage its spending. The spending could be related to any long-term and short-term projects.
Chief internal auditor: The main duty of a chief internal auditor is to perform audits of a business. They also provide accurate accounting data.
Chief financial officer (CFO): The role of a CFO includes managing finances. It also includes overseeing the financial actions of a business.
What is the Best CMA Certification Course to Become a Successful Certified Management Accountant?
Imarticus Learning provides a chance to enrol in CMA Certification Course. It gives learners a chance to become a successful certified management accountant. It offers a Bootcamp of CMA Certification Course. The CMA Certification Course is offered online mode. The study period for the course is 6–9 months. The learners are taught the mastery of 12 core skills:
Accounting
Financial reporting
Corporate financing
Planning
Budgeting
Forecasting
Performance management
Cost management
Financial statement analysis
Risk management
Technology
Analytics
Learners also get a ‘pass protection’ that ensures they pass the examination. Along with this, the CMA certification Course by Imarticus Learning offers the following:
Guaranteed interviews with career and placement assistance
Unlimited access to study materials like course books, question banks and papers
Access to learning videos, etc
Expert mentoring with experienced faculty
Practicals to make the learners’ industry ready.
Why Choose Imarticus Learning?
There are over 1,40,000 global learners of the CMA Certification Course. It is not easy to find courses that offer Career Options After Graduation. But Imarticus’s CMA Certification Course offers career services for better opportunities. The learners of Imarticus Learning work for renowned companies like
State Street,
Societe Generale,
IBM,
J.P Morgan, etc.
Imarticus Learning has partnered with institutes like ima and GLEIM for better exposure for the learners. Know more about what learners can get here.
