By Abdul Rehman 
CMA, the full form of which is Certified Management Accountant, is a professional-level certification course that focuses more on ‘management accounting’, while other courses depend upon tracking financial data and managing investments. The course helps students learn about different parts of finance. This includes external financial reporting, auditing standards, and tax statements. Thus, many people consider CMA the leading pioneer of financial certifications across the globe.
What is the CMA?
The Institute of Management Accountants (IMA) offers the globally known CMA certification. CMAs are the core component of the finance team; they help the company make better financial decisions. CMA fills the gap between strategic business management and accounting.
The certified management accountant course covers a wide range of topics. It helps professionals gain important skills in financial management and strategic accounting. Many industries need these skills for popular jobs in corporate finance.
CMAs usually help the finance team by performing
- Financial planning
- Budgeting for the organization
- Forecasting financial statements
- Performance and Cost Management
- Data-driven decision-making
- Analysis of Financial Statements
Who should consider pursuing a CMA course?
The main question many face after collecting knowledge about CMA is, Why consider pursuing a course? And the answer to this question is quite simple: If you are someone who is
- Ambitious, analytical-minded
- Wants a direct role in shaping the financial future for the organization
- Interested in working in corporate finance and business management
- Progress from basic accounting
- Seeking career advancement and higher earnings
- Seeking a globally known credential? Then you need to pursue a CMA course.
Eligibility criteria for the CMA course
A bachelor’s degree from any college or university is required. The good news is that a degree in finance or accounting is not required. A degree in any stream (e.g., science, commerce, arts, etc.) is acceptable.
Even before earning your degree, you can take the CMA exam. But, within seven years of completing the CMA exam, you have to formally submit documentation to the IMA approving the completion of your bachelor’s degree. Therefore, you might begin your CMA career while still enrolled in college.
Career opportunities after completion of the CMA course
The CMA course duration promotes a highly skilled and strategic financial professional and chances to a wide range of impactful roles within a company.
CMAs are highly valuable/important in a company that operates internationally, and in MNCs, this approach is because of the fact that the certification has global recognition and significant curriculum knowledge in the syllabus. The majority of the jobs for such candidates are in the
- IT and tech sector
- MNCs
- Financial services
- Manufacturing industry
Such highly skilled individuals are required in such sectors as
- Financial Planners
- Management Accountants
- Cost Accountant
- Senior Financial Analyst
- Internal Auditor
- Risk Analyst
- Finance Manager
- Business Analyst
- Project Manager
- CFO
Expected salary and growth in India and abroad
Another benefit of doing CMA is that it offers more stable job opportunities. It also has a higher earning potential than other options.
An individual’s salary depends on many factors. These include their position, role, and experience. The average salary can be divided into three categories.
- Entry level—(0) years of experience
Average of about 6-10 LPA
- Mid-level—(3) years of experience
Average of about 10-18 LPA
- Senior level—(8 years of experience)
Average of about 18-25 LPA
Investing in a CMA certification will enable you to progress from a basic accountant to a strategic financial leader. The CMA course is a great choice for your career. It offers high pay and is ideal if you are ambitious.
If you enjoy solving problems, this course can help you. You will directly contribute to a business’s success and financial health.
Conclusion
There is more to the CMA course than just a certification. It teaches you how a business’s finances operate and how to make wise decisions as a leader. CMA is a wise choice if you’re looking for a job that pays well and shows you respect. A background in finance is not necessary; all you need is the desire to learn. You can advance from accountant to leader with this course. People with CMA skills are in high demand by businesses worldwide. CMA can help you create a strong, international, and future-proof career. It’s the next big step to success.