US CMA in India - Eligibility | Fees | Career Scope | Salary
About US CMA:
CMA stands for ‘Certified Management Accountant’. CMA is one of the highest management accounting credentials in the world administered by the IMA (Institute for Management Accountants). Spanned over just 2 exams, CMA’s curriculum uses some of the most advanced testing techniques to test management accounting aspirants all over the world if they’re worthy of the designation CPA. Lakhs of aspirants take US CMA exams every year to grow into Management Accountants, Finance analysts and many other roles.
Part 1: Financial Planning, Performance, and Analytics
Part 2: Strategic Financial Management
May/June 2021 – now through July 14
|Course Duration||12-18 months to complete both parts, on average up to 3 years.|
|Pass Rate||50% globally|
Benefits of CMA USA
- Career Growth: One of the biggest benefits of having a CMA USA is career growth and development. Several mid and senior-level individuals who wish to acquire expertise in the world of finance, management, accounting and business take-up CMA certification.
- Global Opportunities: CMA USA is a global professional certification and recognised by countries like China, India, UK, Canada, Middle East countries. It presents an opportunity to settle and work abroad as well as learn about global practices and business ethics.
- Increased financial success: CMA is a lucrative opportunity and can lead to tremendous financial success. 58% of candidates with a CMA USA certificate see an increase in their salaries and benefits while 37% of candidates between the ages 20-29 globally have a salary advantage due to CMA.
- Short-Duration course: Another advantage of taking up CMA USA is that it can be completed in 12 to 18 months. The CMA exam is conducted thrice in one year giving ample opportunities to candidates to finish their course on time- January and February, May and June & September and October.
- Versatile Certification: CMA is a versatile degree and opens to candidates from an array of specialisations. Candidates with a minimum of 2 years of work experience and a bachelor degree programs from areas like engineering, business administration, economics, accountants and finance can take up this course.
- The minimum eligibility to enroll for the US CMA course is 12th (But Graduation is necessary for CMA Certificate)
- You can register for the US CMA course before or after graduation.
A candidate can only obtain the US CMA course certificate on fulfilling the below criteria
- Should be a Member of IMA
- Should have a Bachelor’s degree from an accredited university
- Should have two years of relevant experience
- Should have passed both the parts of the US CMA course
CMA Course Duration
Depending on the aspirant’s plan and study schedule, the US CMA certificate can be completed in a minimum of 6 months to 3 years. As per the guidelines of IMA, an aspirant must complete the exams within 3 years from the date of registration.
IMA conducts US CMA exams in three testing windows every year in India and all over the world. The testing windows are as below.
- January – February
- May – June
- September – October
US CMA Course Fees in India:
|IMA Membership Fee||$45||$260|
|Exam Fee (Part-1)||$345||$460|
|Exam Fee (Part-2)||$345||$460|
Career Opportunities After CMA
Given the widespread need for management accountants, every other industry requires CMAs. US CMA is in great demand in all sectors. CMAs are also being recruited by MNCs for the managerial positions like Financial controllers, Budget Analysts, Cost Auditors, Chief financial controller and many other high levelled positions.
Since they are in demand in various sectors for many skills, the US CMAs have immense job opportunities in India like those given below and a lot more related to Finance.
- Research Analyst
- Cost Accountant
- Legal Advisor
- Finance Manager
- Financial Analyst
- Management Consultant
- Cost Auditor
Job Profiles & Average Salaries
|Job Profiles||Average Salaries|
|Internal Auditor||₹3,00,000 – ₹8,00,000|
|Cost Accountant||₹5,00,000 – ₹6,00,000|
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