Professionals who want to enhance their career in finance and account management and boost their employment opportunities can focus on the Certified Management Accountant program(CMA USA).
The corporate world is always on the lookout for CMAs for accurate forecasting and decision-making to attain the future goals of the organization. Due to the high demand, this professional certification leads to higher pay and better job opportunities. The world will be at your feet!
Taking the Comprehensive CMA US program will help you advance in your finance or accounting job. have you stuck in making the Decision which course to choose CMA USA vs CMA India ? let’s have look on the side by side course Comparison
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There are many advantages to getting the CMA certification. Here are a few of them:
CMA USA is one of the top certifications in Finance and Management Accounting. They get the opportunity to work with business leaders because of their aptitude to make financial decisions for businesses. Being a CMA USA will fast-track your Finance career.
After clearing your exams, you get the opportunity to be a Financial analyst, Financial controller, Finance manager, or even a Chief Financial Officer (CFO), etc. The CMA candidates get high pay packages at entry-level jobs as compared to their peers. The promotions are always high for CMA certified compared to Non-CMAs in MNCs and Big 4s.
A CMA is a more specialized certification in the field of Finance. It helps you gain a deeper understanding of a company’s Financial workings.
The knowledge gained will allow you to understand the intersection between accounting and financial management along with the organizational goals. Your educational qualification, expertise, and practical aptitude in the field will allow you to work with the top leadership in the company.
The average income for CMAs is 28% higher in the U.S. compared to their non-certified peers. At the global level, CMAs make 62% more in median salary and 67% more in median total compensation than non-CMAs. Such trends show that the money spent on CMA certification can be easily earned back.
A CMA USA certification not only results in high-paying roles but also has an international appeal. To get a reputable job in other countries, you need to get the best education, and CMA can be one of the best choices. A basic degree in India may not carry the same value in Europe, but a degree in CMA USA is recognized globally and has a great value across the world.
Students trying to take up the Certified Management Accounting (CMA) may be confused about which of the CMA is the best one to pursue? Whether CMA USA or CMA India would help their career?
We are here to help you make that all-important decision with an informed choice.
The major difference between the CMA USA and CMA India are :
The CMA USA is regulated by the Institute of Management Accounts in the US (IMA), a forum for research, practice development, education, knowledge sharing, and the advocacy of ethics and best business practices in Management Accounting and Finances.
CMA India is regulated by the Institute of Cost Accountants of India (ICWA) to promote, regulate, and develop the profession of cost accountancy.
A candidate has to be an undergraduate or 12th pass in CMA USA. Additionally, they need a two-year work experience in the field of Finance and Accounting domain to get the final CMA USA certification. The candidate has to score a minimum of 360 marks out of 500 individually in both parts. Aspirants from any background are eligible for CMA USA.
In CMA India the candidate should be a 12th pass with 6 months of articleship. The candidate also has to score at least 40% for individual papers and 50% in aggregates of the Intermediate groups.
CMA USA is a short duration course and can be completed in 6-9 months, whereas CMA India takes a minimum of 3 years to complete the course which is an ample amount of time.
The CMA USA has an exam consisting of 2 parts:
|External Financial Reporting Decisions||15%|
|Planning, Budgeting, and Forecasting||20%|
|Technology and Analytics||15%|
|Financial Statement Analysis||20%|
CMA India is tougher as it has three levels, which comprises of 20 exams listed below:
CMA USA is a globally recognized and one of the highest certifications in Management Accounting that leads to jobs in any developed country with higher pay, better job designation, and more global exposure. CMA USA focuses on US GAAP and IFRS.
However, the CMA India certification has its value only in India and is based on IND AS (INDIAN GAAP).
A CMA USA professional is qualified to work in fields related to finance, accounting, and internal auditing, around the globe, without any restriction. But a CMA India professional is restricted within India and for companies of Indian origin only.
CMA USA Exam fee costs only INR 40,000 for students and INR 70,000 for professionals whereas, CMA India costs around INR 1 Lakh.
The job opportunities for both CMA USA and CMA India are almost the same. The only difference is the market that they can cater to. CMA USA can work in Big 4s or Fortune 500 companies in India as well as across the Globe. While CMA India can only work in the Indian market.
If one plans to work outside India or for an international company, then CMA USA is definitely a preferred option.
Here are a few roles that you can get after completing your CMA USA:
Financial Planner: Financial Planners advise their clients on managing their money. They work for insurance or finance companies to make investments, future financial plans, etc.
Cost Accountant: They focus on reducing financial waste and increasing profit from production costs. To reach executive positions like Senior Cost Accountant and Financial Controller, you need to be qualified as a CMA USA.
Financial Analyst: They display expertise in where and when to buy and sell investments. You can get roles like investment partner, financial consultant, or portfolio manager to fast track growth.
Corporate Controller: Corporate Controller is responsible for converting data into information that includes financial reports and income statements. He/she directly reports to the CFO.
Chief Financial Officer (CFO): CMA USA certification can eventually open up the doors to climb the corporate ladder to become the CFO.
Major differences between CMA USA and CMA India
|CMA USA||CMA India|
|Globally recognized certification||Recognized only in India|
|Course duration is 6-9months||Course duration is 3-4 years|
|Course costs 120k-150k||Course costs 100k|
|It contains 2papers with single level exams||It contains 20papers with 3levels of exams|
|Credential issued by IMA, USA||Credential issued by ICWAI, India|
The choice between a CMA USA and CMA India depends on one’s requirements. If a person wants a long-term course of 3-4 years with 20 papers and wants to work only in India they can choose CMA India.
If a person wants global recognition with a short-term course of 6-9 months with 2papers they can opt for CMA India
There is a huge demand for CMA USA in Fortune 500companies and Big 4s. The job opportunities that CMA USA qualified can get are
The way ahead:
The choice between a CMA USA vs CMA India depends on you completely. Basis your personal preferences, current situations, and future plans – you need to make your decision wisely. If you want to join Big 4 and Fortune 500 companies in India as well as abroad definitely one must consider doing CMA USA.
More than 15000+ students and professionals have benefited from NorthStar Academy and excelled in their careers in Finance and Management Accounting. You can check some of our student’s success stories here who have passed the CMA USA exam in their first attempt with flying colors. Call us now to get started +918147470707.