Certified Management Accountant (CMA)
Going for the CMA certification is a great career move, especially when you aspire to make it big in the field of management accounting. But before getting into it, it is important that you know every detail about the course, eligibility, exam structure, salaries and the opportunities it will offer. You need not go anywhere else to find all these information, just sit back and continue reading and I am sure that by the end of it you’ ll have answers to all your questions related to the CMA certification.
Eligibility for CMA
- Membership of IMA
- A Bachelor’s degree from an accredited university
- Two years of relevant experience
- Passed both the parts of CMA Exams
CMA exams are divided into two parts (four hours for each part) the syllabus of which is as below:
Syllabus for CMA Exam Part 1
- External Financial Reporting Decisions
- Planning, Budgeting and Forecasting
- Performance Management
- Cost Management
- Internal Controls
Syllabus for CMA Exam Part 2
- Financial Statement Analysis
- Corporate Finance
- Decision Analysis
- Risk Management
- Investment Decisions
- Professional Ethics
The candidates have to clear both these parts within 3 years of registering for CMA.
When can you appear for the exam?
The candidate can appear for the exam in the following months
- January and February
- May and June
- September and October
CMA Exams are administered by Prometric which has centers all over the world. You’ll have to schedule your exams atleast 72 hours prior (It is advisable to schedule atleast 4 week in advance)
Career Prospects after completing CMA
Obtaining the CMA certification will open a lot of opportunities for you in the domestic as well as the global market. It will help you to enhance your financial, accounting and management skills that will expand your career potential and which will help you to stand out from the rest. Some of the job roles that you expect after completing CMA are:
- Finance Manager
- Financial Analyst
- Financial Risk Manager
- Financial Controller
- Cost Accountant
- Chief Financial Officer
- Cost Manager
- Cost Manager
- Relationship Manager
Salary after CMA
Now comes the most important question, “How much will you earn after CMA?” Well that depends on various factors like company size, your position in the company, experience level etc. Below you can find the salary of CMA in India from all these different perspectives.
CMA salaries by Years of Experience
Like every other certification and field, the salary of CMAs too increases with the increase in the years of experience. If you have just started out, you might not able to draw a big amount but after completing a couple of years, there is no looking back.
CMA salaries by Job Role
Finance Managers and Financial controller are the positions that you must look out for as they are the highest earning positions but if you are starting out, it is quite possible that you might have to work as finance analyst.
CMA salaries by City
If you are a CMA and situated in Bangalore, then you are in a happy place as you are earning more as compared to the CMAs in other cities.
CMA salaries by Company Size
Bigger the company, higher will be the salary. But after a point when the number of employees are more than around two thousand then you can expect a dip.
Not just in India but CMAs earn a very good salary across the globe. You can check the same by going through the 2015 Global Salary Survey Report by IMA . So does that solve all your doubts regarding the CMA certification? If you have any other queries then mention them in the comments box below and it shall be solved at the earliest. You can also call us on – 91 779 599 0397, 91 804 150 4226 to get the CMA course details.
If you have already made the decision of going for CMA and are looking for a training institute, then CFO NeXt is an institute that provides CMA trainings online and offline that will help you clear your exams easily. Check the CMA course details and Enroll Now.