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Certified Management Accountant or CMA USA certification is one of the most sought-after certifications in the field of Management Accounting. CMA USA is a globally recognized and prestigious certification, hence many employers from all around the world seek CMA certified accountancy professionals to join their respective companies. There are many institutes that provide the reputable CMA USA course, which can help you attain this international certification easily.
The salary of a CMA-certified accountant is actually quite high and compensates for the expense undertaken to get the CMA certification like the CMA registration fees, CMA course fees, etc.
But earning this certification is no easy task. The individual must have a passion for the field of Accountancy and a willingness to dedicate quite a lot of time to this certification.
On top of that, the certification also requires a significant financial investment from the applicant in order to gain the certification. But for the exposure and salary, you get after achieving the CMA certification is really worth putting in the time and monetary investment.
That being said, now you most probably want to know all the fees structure in advance before you start your journey of becoming a CMA certified management accountant, so you can make a budget accordingly.
Hence, to help you with that, we will break down the whole CMA Registration Fees and how you can save your expenses on fees.
With no further ado, let’s get straight into the CMA registration fees structure:
Getting a CMA certification can lead to great job opportunities with higher pay. As per the reports, an individual who had completed the CMA USA certification earns 60% more than the individuals without it. The CMA exam may look expensive, but considering the benefits of this certification, it is certainly worth the investment.
We can separate the CMA exam fees into three categories, namely IMA membership program fees, CMA Entrance fees, and CMA registration fees.
Before you can take part in the CMA examination and get your certificate, you must become a member of the IMA (Institute of Management Accountants) is an internationally recognized professional organization of Accountants.
IMA is the organization responsible for awarding the CMA certification to all the deserving candidates. The organization has made it mandatory for all the CMA applicants to have a membership in their organization.
The IMA membership requires you to pay an annual fee, ranging from $39 to $245. You need to pay these annual fees both while you are pursuing the CMA certification and also after getting the certification. If you do not pay the IMA membership fees, your certification will expire.
In the CMA certification, the cost of everything (including the CMA registration fees) changes according to the professional status of the applicant. Similar is the case with the price of IMA membership charges.
After you get the membership in the IMA, now the time is to pay for the CMA entrance exams and finally get there. After paying for the CMA entrance, you will officially start pursuing the CMA examination. It is a one-time cost that you will have to bear at the start of your CMA journey.
Again, depending on your professional status, the CMA registration fees for the CMA entrance exam vary a lot.
There are extra fees for the CMA examination itself. Once you will be confident in your skills and believe that you can clear the examination, you need to appear in the examination. You need to pay this fee to sit in the upcoming CMA examination.
The CMA examination has 2 parts in it and you need to pay for each examination separately. Hence, you will have to pay the CMA examination fees twice. Each fee will let you sit in the examinations for only one time. This is why it becomes monetarily important to clear the examination in the first attempt.
|Student Category – UG or PG (Regular, Online, Distance Basis)|
|Particulars||IMA Fees ($)|
|Membership Registration fee (Valid for 3 years)||135|
|IMA Entrance fee (Valid for 3 years)||210|
|Part 1 Exam fee||345|
|Part 2 Exam fee||345|
|Total CMA USA Student Category Fees||1035|
|Professional Category – (Passed college or working professionals)|
|Particulars||IMA Fees ($)|
|IMA Membership Registration fee (Valid for 1year)||260|
|IMA Entrance fee (Valid for 3 years)||280|
|Part 1 Exam fee||460|
|Part 2 Exam fee||460|
|Total CMA USA Professional Category Fees||1460|
However, you get Bundle Discounts when you register with NorthStar Academy!
IMA’s Official Training Partner – Know more about the BUNDLE DISCOUNTS today!
As mentioned earlier, CMA USA has three stages of fees where the candidates have to pay a certain sum of money. These three stages are – IMA Membership fees, CMA Entrance fees and exam fees. The fees also change with the professional status of the applicant.
Let’s understand the fees difference for various professional statuses and stages of the CMA USA-
|Particulars||For Students($)||For Professionals($)|
|Fees for membership of the IMA||135(3 years)||260(1 year)|
|CMA entrance fees||210||280|
|Part – 1||345||460|
|Part – 2||345||460|
Hence, the total fee required to be paid by a professional in the field is the highest at USD 1460. While the academics and students get a little discount on the membership fees, entrance fee and exam entrance fees. Thus, the total fees required to be paid by students is 1035.
The Institute of Cost Accountants of India (ICAI), is an institute that designed and launched an Indian version of the CMA certification for the applicant living especially in India.
The certification is launched with the purpose of promoting and regulating the professions of Cost and Management Accountancy in the country of India. The CMA India cost is quite low compared to its USA counterpart, while it still provides the holder with many great work opportunities to work in India. But you can not have much scope with CMA Certification in the United States and other foreign nations.
The CMA fees can be divided into three sections: CMA Foundation Exam, CMA Intermediate course, and CMA Final course.
Paying the CMA foundation registration fees is where you will start your journey in CMA, India. The registration for the CMA foundation exam 2022 remains open for the whole year. Applicants just need to pay the CMA registration fees and they will be eligible to sit in the CMA foundation exams.
The required fee for the CMA India is around 6000/- INR and the fees for the CMA India do not vary with the professional status of the candidate as it does in the CMA USA examination.
After you have passed the CMA foundation examination, you have to prepare for the intermediate examination. The CMA registration fees for the intermediate examination is around INR 23,100 rupees only. The candidates have to pay these fees in order to sit in the examination.
The intermediate examination is the second stage of the CMA India certification and is much tougher than the CMA foundation exam. Hence, it is recommended to consider joining the best CMA course like that of NorthStar Academy.
Now comes the final examination of the CMA India certificate. The exam is considered one of the toughest of all, hence the candidates need to put in a lot of effort to clear the examination. You can only take the CMA final examination if you have first cleared the foundation and intermediate examinations.
The CMA registration fees for the CMA final examination is INR 25,000 rupees. The candidate needs to pay this fee to take the CMA final examination.
After you have cleared this level of the CMA India. You will be granted the CMA India certification and you will become a professional cost and management accountant. Hope you get a well-paying job with this certification.
You have to pay the CMA foundation registration fees after you have filled out the examination form on the official website. CMA foundation registration fees can be paid via both online and offline methods.
Online mode – Candidates can use Net Banking / Debit Cards / Credit cards to pay the CMA foundation registration fees.
Offline mode – with the help of a demand draft, candidates can pay the CMA foundation registration fees.
The total CMA foundation registration fee is roughly 6000/- INR, which does not change with the professional status of the examination.
In India, the applicants can pursue two different CMA courses, which are – CMA USA and CMA India. The fee structure and total fees for both of them vary.
Generally both the CMA costs approx 2,00,000 INR overall.
You can contact us at NorthStar Academy to get a personalized quote for the fees for the CMA course, specially designed for your preparation for the upcoming CMA examination.
CMA foundation is the first step toward the CMA India certification. you will have to clear this examination to even start your career in CMA India.
The registration process for the CMA Foundation 2022 is written down below in a step-by-step manner:
Step 1: Visit the official website of ICMAI, “icmai.in”. ICMAI is the authority responsible for rewarding the certification to all the deserving candidates.
Step 2: On the website, you will find the student option. Click there.
Step 3: Find the online admission button and click on it.
Step 4: you will see the option to apply to all three of the examinations. Click on the foundation exams and you will get a form.
Step 5: Now fill in all the required details to complete the registration process for the CMA foundation exam.
Step 6: Upload all the required documentation to the form. Please make sure that all the documents are correct and in the right size and format.
Step 7: Now click apply and pay the CMA foundation registration fees for the examination.
You will only have to pay the CMA registration fees for the foundation exam for now.
Indian accounting professionals who have the CMA US certification get better compensation for their services than an individual without the CMA. In the year 2021, the CMA holders in India got an average total compensation of around $31,600 USD/per yr (24 lakh/per yr). The salary you received after achieving this certification, well pays for the cost of the certification.
Even after you have cleared the CMA USA certification, you still need to annually pay a certain amount to maintain the validity of the certification. For most applicants, it means paying the professional membership fee ($245 annually) of IMA membership.
Other than paying the annual fees, the CMAs still need to complete a minimum of 30 hours of continuing education, every year.
Yes, you can easily earn the CMA US certification, entirely from India, without even requiring to travel or work abroad.
The US CMA can be completed in a minimum of 6-9 months if you enroll in the NorthStar Academy CMA course. We provide the best mentorship and study material to organize your study plans. However, the IMA provides the candidates with a total of 3 years to clear all the examinations, counted after the day of registration.
The CMA certification obtained in India is a prestigious credential in the field of managerial accountancy. If you want to work in India only, then the CMA India will be the best option for you and if you want to work abroad as an accountant, you will require the CMA USA certification.
The CMA US certification costs you around USD 849 to USD 1,325 (INR 66000 to INR 1 lakh). While the CMA India costs somewhat less. The first step of the CMA US certification is to buy the membership of the IMA, while for CMA India the first step is to pay the CMA foundation registration fees.
There are also some hidden charges you might have to pay for getting any of these two certifications. It is also recommended that the candidates should buy some study material to clear the CMA examination and the cost of study materials also adds up to the cost of certification. The examination center can be far away from your location (sometimes, the exam centers can be in a different country) so you need to travel to that particular location, which will further add up to the cost of this certification.
Passing the CMA examination is no easy nut to crack. You need to have an intensive knowledge of the subject. The CMA USA course by NorthStar academy can help you crack this examination easily. Our top mentors like M Irfat Sir at NSA will guide you through the path of acquiring the CMA certification.
Connect with us and we will provide you with the best solution possible for your CMA journey. We also offer free demo classes for the students to experience the classes first and then make the choice to join the CMA US training. So, do consider booking a free demo class with NorthStar academy and grasp the significance of these courses for your career.