Why is CMA Course in Chandigarh better than MBA in Management Accounting?
Admin 29 Dec, 2023 Overview
You can grow and enhance your career in several industries and sectors. Management Accounting positions are the most sought-after in recent trends across all sectors. To get started in these sectors, you must first complete a specialized professional certification and receive training in management accounting or financial accounting. Having globally recognized and sought-after certificates such as CMA USA or MBA will benefit your career. But another dilemma arises- which course to choose? Though both are highly regarded career goals in the accounting sector, the CMA focuses on management accounting, while the MBA covers a far broader range of finance-related topics.
If you're searching for a management accounting course, CMA USA is one of the best; it enhances your management and accounting abilities and provides a broad range of career options. CMA USA in Chandigarh is challenging, establishes standards, and moves toward a more integrated global perspective. The US CMA is a professionally recognized qualification, whereas the MBA is an academic degree. This article will clarify why the CMA course in Chandigarh is better than MBA and should assist you in making an informed decision.
Lets get to the basics first.
What is an MBA?
The MBA degree first appeared in the early twentieth century, when industry and business leaders recognized its importance and adopted a scientific approach to management. A business administrator is in charge of a company's everyday general operations. An MBA program's curriculum covers a variety of business topics, including finance, accounting, human resources, marketing, and operations, in a way that is most suitable for management analysis and strategy. There are different departments in business enterprises, and someone getting an MBA should be familiar with them because they will be sailing the company's ship.
What is CMA USA?
The Institute of Management Accountants (IMA), USA, grants the CMA USA certificate after successfully clearing the exam. The CMA USA is an advanced-level certificate suitable for company accountants and financial professionals and is recognized worldwide. Getting this certification shows your professional ability in areas like financial planning, analysis, decision support, and professional ethics, which are in high demand by businesses worldwide. Despite being relatively new, CMA Course in Chandigarh is making significant progress in improving one's resume and raising the possibility of promotions and salary raises. Employers throughout the world seek people with a CMA degree.
Eligibility Criteria for MBA
- The minimum eligibility criteria is a 3-year bachelor's degree with at least a 50% grade point average.
- You must qualify for the CAT (Common Admission Test) or an equivalent test to be admitted to one of India's top MBA institutions.
- You can apply to the college for group discussions and personal interviews depending on how well you perform in the exam.
- You will be admitted to college after passing the group discussion and personal interview.
Eligibility Criteria For CMA USA
- A bachelor's degree from a renowned institution or college is required.
- Active IMA Membership
- Having worked professionally for two years in management accounting or financial management.
- Passing Parts 1 and 2 of the CMA USA certification exam.
- Adhering to the Statement of Ethical Professional Practice.
A bachelor's degree is a basic requirement for qualifying for both the US CMA course in Chandigarh and MBA. However, students pursuing a bachelor's degree can also sit for the CMA Exam.
Course Specifics - US CMA Course vs MBA
As the name suggests, the CMA Course in Chandigarh is a professional degree in management accounting. The course consists of just two sections and may be completed in six to nine months. One major benefit of the CMA Course is that you can complete it without interrupting your present obligations and responsibilities. It is incredibly beneficial for working people who want to improve their skills and advance their careers.
On the contrary, an MBA is a generalist master's degree that takes two years to complete. This may be extended if you want to complete the course via distance or part-time training. MBA programs do not specialize in any one of the various aspects of business, such as finance or marketing. It includes every aspect of a company organization's operations and offers a comprehensive picture of all the potential business ventures.
Therefore, getting into a US CMA Coaching in Chandigarh gives you a competitive edge in concluding the program more quickly than someone with an MBA.
What is the MBA vs US CMA Course Fees in Chandigarh?
The course fees are significant criteria, owing to the ever-increasing tuition rates.
For a two-year program, an MBA may cost you anywhere from Rs. 20 lakhs to INR 50 lakhs. The cost is also determined by various factors, including-
- University from which you receive your degree,
- the cost of living,
- the cost of relocating to another city/country, and so on.
One must pay a maximum of INR 1.5 lakh for the CMA coaching fees in Chandigarh, which includes the CMA exam fee, application fee, and IMA membership fee. So, the monetary investment in CMA is way lower than that of an MBA. Additionally, a US CMA provides 5 to 10 times greater exposure to the global employment market and MNCs in India than an MBA in Finance. As a result, the fees of the US CMA course in Chandigarh are reasonable.
Job Profiles - US CMA Course vs MBA
The US CMA is a recognized worldwide certification and one of the top programs for students looking for work outside of India. US CMAs are qualified to work as cost accountants, research analysts, finance managers, financial analysts, or in positions in the financial C-Suite. They received training in reading and analyzing data to transform them into insightful discussions that support decision-making. They are responsible for making decisions about different investment prospects, the feasibility of new ventures, methods of funding assets and projects, etc.
As previously stated, the MBA is a generic degree with specializations available through the course's curriculum framework. An MBA degree is ideal for a professional seeking to expand their knowledge of business activities. An MBA graduate can work in finance, marketing, project management, and other fields. MBAs, on the other hand, work in a variety of business operations, such as strategy, financial planning, and management consulting.
Many colleges in India provide great MBA programs, but one drawback is that they do not require job experience. Students have a distinct way of looking at things because they had professional experience before obtaining their degree. To obtain a certificate from CMA USA, you must have job experience. It significantly impacts how applicants might be chosen for various firms. CMA USA is also a worldwide recognized program, but MBA, while globally recognized, is primarily concerned with the university from which the degree is obtained.
Salary after MBA vs US CMA Course in Chandigarh
An MBA professional's compensation structure is determined by the brand name of the business schools from which you obtained your MBA degree. There is a significant salary disparity between students who complete degrees from renowned institutes such as IIM and IIFT and those who earn degrees from tier 2 colleges. In reality, many prestigious and big firms only hire students from these prestigious business schools. An average Indian graduating from a tier 2 institution receives an annual package starting at INR 3 lakh, which may vary based on location and organization.
CMA USA is in high demand across all industries. MNCs such as Accenture, Amazon, Deloitte, and others are also recruiting CMAs for managerial positions. According to the IMA's most recent Global Salary Survey 2021, the median salary of a CMA professional is more than 58% higher than that of non-CMAs and MBAs, for that matter. The global difference in total salary between CMAs and non-CMAs, including MBA, is over US$29,000, which proves why a US CMA course in Chandigarh is a career-changing step.
Here is the table of annual average salaries for Freshers.
| Country | CMA USA | MBA |
| India | INR 8 Lakhs | INR 6 Lakhs |
| USA | USD 85K | USD 75K |
| Germany | CAD 90K | CAD 80K |
US CMA vs MBA - How Do You Select?
As you grow in your business career, it is critical to have a development mindset and to be continuously on the lookout for opportunities to improve as an individual and in your work. Both the CMA USA certification and an MBA degree can get you there, but one may help you get started on your preferred professional path faster than the other.
The easiest method to compare the CMA USA and MBA and determine which one is ideal for you is to review your professional objectives and personal resources and determine which degree will help you achieve your goals with the resources you have. The CMA certificate can help you advance across many firms in the financial and accounting professions. Still, the MBA may be more suited to specialized career paths such as sustainability or healthcare. One last thing to take into account is the time you have to spend on getting certified. The US CMA course in Chandigarh takes about 6-9 months to complete, whereas MBA requires 2 years.
FAQs
1. Where can I study CMA in India?
You can study and prepare for CMA from anywhere in India. Depending on where you live, you could visit the closest center and sign up for the offline or online course there. You might enroll in the Institute's coaching program, where seasoned academics often conduct sessions. If not, you can find the finest coaching, then enroll there for a CMA Course in Chandigarh.
2. Is CMA India globally recognized?
CMA India certification is only valid in India and is based on IND AS standards (INDIAN GAAP). CMA India professionals are only recognized and acknowledged to work in India. Thats why it is better to go for CMA USA if you are seeking better career opportunities in India and worldwide.
3. How long is the CMA course in Chandigarh?
The US CMA course in Chandigarh may be finished in 6-9 months. According to IMA guidelines, applicants must pass both the CMA USA examinations within three years of registering for the CMA USA. However, depending on the aspirant's study plan and timeline, the US CMA certificate exams can be completed in as little as nine months to as many as three years. Candidates who pass the exams will have seven years to receive their CMA USA certification. If they have earned a bachelor's degree and two years of work experience in any relevant department, they may apply for certification at any point throughout these seven years.
4. Is CMA easy to pass?
With CMA exam success rates as low as 45% for Part One and 45% for Part Two, there is clearly a significant level of difficulty. The CMA exam is very challenging and will push you to the edge of your abilities. A candidate must maintain a consistent study regimen, a high-quality CMA USA review course, and self-confidence. Applicants should also join a good institution for CMA Course in Chandigarh to access relevant study material and mentorship.
5. How many years is the CMA course?
The IMA allows a maximum of three years from the date of enrolment to finish the CMA Course. The CMA course in Chandigarh must be finished in at least six months. However, depending on the candidate's commitment and attention, it may take longer. Both exam sections can be passed in 6 to 12 months if they are completed with attention and effort. The candidate must have a minimum of two years of relevant work experience to be eligible to utilize the CMA designation and get the certification.
6. Can CMA join after the 12th?
Yes, all students may enroll in US CMA after passing their 12th-grade examinations and while pursuing their diploma or degree. It just takes 6 to 8 months to complete a professional certification that is also widely accepted. Even though you can take up this course after the 12th, a few crucial requirements must be satisfied to acquire the CMA certification.
7. Can I pursue both a CMA and an MBA?
Yes, completing the CMA program while simultaneously pursuing an MBA is possible. However, in order to receive a certificate, one must pass all exams and have at least two years of relevant work experience. One might consider doing both programs while considering whether to get an MBA or a CMA. CMA after MBA in Finance is a logically functionally connected qualification that may move your career forward. For a better approach to the examination and preparation, you can join a CMA Course in Chandigarh.
8. Can a student pass the CMA on the first try?
Passing the CMA USA on the very first attempt you try is possible. It is crucial to select a coaching school that offers all the resources you need to pass the exam, such as excellent instruction, backup courses, and study materials if you wish to pass the exam in one attempt. Select a reputed institution for preparing for the US CMA course in Chandigarh and study with a solid strategy. Develop an appropriate schedule and keep your goals for the day in mind. You must also ensure that you are accomplishing all of the tasks on your list.
Conclusion
The MBA and CMA courses in Chandigarh are both excellent and, moreover, useful in the modern world. Both degrees are in high demand for candidates. Either option would be good, but which one to select really depends on you and what best matches your needs. If you have a finance or accounting background, we recommend that you pursue CMA certification. It will help you develop in your career and provide you with more opportunities. CMA USA certification may be obtained in substantially less time than an MBA and is less expensive.
We hope you have made your decision, and if you seek the best CMA USA coaching in Chandigarh, you may enroll in NorthStar Academy's Comprehensive CMA USA course program, which you are guaranteed to pass in one session. NorthStar Academy will help you prepare for your CMA (USA) by providing you with personalized US CMA study material as part of our top-tier CMA USA course. NSA provides the most reliable Becker preparation resources for the CMA USA test, which are the oldest and most effective. At NorthStar Academy, the mentors like Mr. M Irfat with years of knowledge that we can use to help students learn more about the curriculum.
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