The Certified Management Accountant (CMA) certification is a globally recognized certification focused on management accounting and corporate finance. The certifying body for CMA certification is the Institute of Certified Management Accountants (ICMA), a division of the Institute of Management Accountants
(IMA). To date, IMA members in more than 140 countries have earned their CMA certifications.
The CMA course is the best certification in Management Accounting, and the course’s demand is increasing due to excellent job opportunities after completing the CMA course in India.
What do CMAs do?
In its Global Salary Survey 2021, the IMA details the four main roles of the CMA: steward, operator, strategist, and catalyst.
- Stewards are responsible for protecting company assets and ensuring compliance with financial regulations and external financial reporting.
- Operators provide services such as financial planning, treasury, and taxes in order to run an efficient financial organization.
- Strategists are financial leaders who align business and financial strategies for the future of the business.
- Catalysts implement new strategies related to the financial function of the business.
After US CMA job opportunities & Salaries in India
By completing the CMA certification
, professionals can pursue a variety of career paths related to operations and decision-making. CMA job opportunities and salaries vary depending on the candidate's years of experience and work experience.
- Financial Analyst
In a more junior position for CMAs, financial analysts monitor financial statements, prepare reports, analyze results and make recommendations to improve company productivity. After completing CMA certification, it gives financial analysts the confidence and knowledge they need to be able to complete the full cycle, from creating financial reports to making recommendations based on the information compiled. Average Salary
: According to Glassdoor, financial analysts earn an average of $65,817 per year.
- Cost Accountant
As the name suggests, Cost Accountants collect, analyze and report details of a company's costs to find inefficiencies that can be eliminated to save the company money. During the CMA certification process, cost accountants will learn the skills they need to perform successful cost accounting and communicate strategic plans to high-level executives for implementation. The US CMA is the global equivalent of the Indian CMA, you will be eligible to work as a Cost Accountant in India once you have completed the US CMA course
. Average Salary
: The average annual salary for cost accountants is $62,207.
- Financial Risk Manager
After finishing the CMA course, the candidate can acquire the necessary analytical and decision-making skills and related work experience, financial risk managers predict future changes that could affect a company's finances and create strategic plans based on their predictions. This position requires a solid foundation of analytical skills as well as knowledge of mathematics. Average Salary
: Financial risk managers earn an average of $99,949 per year.
- Financial Controller
Financial controllers work directly with CFOs as heads of the finance department. This position is largely a managerial position overseeing other accountants and bookkeeping managers but also involves translating data into financial statements and formulating financial strategies. The CMA course completed candidates are highly recommended for this position, as financial controllers are required to make strategic recommendations and manage other accounting professionals. Average Salary:
The average annual salary for financial controllers is $108,651.
- Chief Financial Officer
The CFO is the leader of the company's financial decisions as the financial part of the C-suite and often reports directly to the Chief Executive Officer (CEO). CFOs are involved in the company's financial reporting, financial forecasting, and investments. The leadership, communication, and analytical skills involved in this position are part of the CMA certification process. A CMA or MBA
is often required to achieve positions at this high level of management. Average Salary
: CFOs earn an average annual salary of $146,053.
Who should earn the CMA?
The CMA may be right for you if you're an accounting or finance professional wishing to advance your career in CMA. During the credentialing process, CMA course completed candidates learn how to turn data into dialogue and use that data to make important strategic business decisions.
Due to the requirements for the CMA qualification, most professionals who obtain professional certification are more experienced professionals. However, CMA candidates may take the CMA exam
before completing all certification requirements. So, if you want to start your career at the beginning, CMA is still a viable option.
What are the requirements to become a CMA?
CMA candidates must:
- Hold an active IMA membership
- Pass both portions of the CMA Exam
- A bachelor's degree from an authorized institution or university is required.
- Have two years of continuous professional experience
Is CMA a good career option?
Yes, to put it simply, there are many job opportunities that students will get after finishing their CMA course, which can be a good beginning toward a brighter future.