Why one should go for the US CMA out of other related courses in finance and accounts? .The most pertinent question comes to every aspirant be a student or a professional in finance sector. Despite efforts, expenditure and time , does it really worth in essence? What value is imparted to one’s CV upon passing US CMA exam and becoming a US CMA finally. Let’s try to shed some light in this scenario with a realistic attitude.
Indulging in to the motivations to become a US CMA, it’s important to understand the benefits being enjoyed by the existing US CMA holders. Looking into this aspect will help you to take informed decision for yourself to boost your own career path and how to achieve that through your own potential.
Below are some of the salient features suggestive of the benefits of passing US CMA exam in 2022.
1. The CMA US as the Gold Standard in Management Accounting
In older accounting days, people were unaware about the US CMA course. Currently, US CMA is being considered as a very coveted designation. In fact, it is considered the “gold standard”, meaning it is one of the top credential in management accounting that draws immense respect. Being a rapidly growing global certification, the US CMA holders belong to the top rung of the hierarchy ladder- a great motivation for the aspirants.
The US CMA is state-of-the-art advanced professional certification customized to evaluate the critical accounting and financial management skills of an individual. In particular, this is meaningfully designed to be relevant for success in a competitive business atmosphere on a global perspective. In essence, this means one who holds a certification will obviously, be a prime candidate for job positions in India and abroad.
2. Acceptability as a Global Management Accounting Certification
While CIMA is one of the largest contender in this category, it is more or less restricted in the UK and to a lesser extent Europe and Commonwealth countries. On the other hand, the US CMA is growing across the globe more rapidly in comparison to CIMA.
Although, the country wise number of US CMA is still smaller, but the certification is now gaining popularity as the desired management accounting certification not only in the US but also in the fastest developing regions, namely China, Middle East and India.
The information extracted from the August 2014 edition of Strategic Finance, almost half of the new CMA candidates came from the Middle East (UAE, Egypt, Saudi Arabia, and Jordan), and almost 1/4 from the Asia Pacific (China and India).
What is US CMA Course? Frequently asked questions on US CMA |FY 2022 :- To understand the detailed overview on the US CMA course and other FAQ’s continue reading
3. US CMAs Earn More
In reality, pursuing the US CMA course, learning new things with great motivation is fine to finally pass the course but obtaining the certification ultimately will lose its shine until unless it doesn’t fetch a better-salaried job.
According to a comprehensive study by the IMA, CMA certification holders earn 67% more than their non-certified counterparts. So what is the meaning of “more”? Is it satisfying? For this, one has to stay updated on the available statistics since the global mean and median base CMA certification salary may wade and wane from year to year.
However, the figures remain high and attractive to future Certified Management Accountants, indicating it’s still a lucrative reason to consider getting a US CMA credential.
Furthermore, as per the IMA reports, the global mean base salary of 2018 was $74,344, while the global median base salary was $66,000. Ironically enough, this will supposed to rise in forthcoming years -an encouraging scenario for upcoming US CMA aspirants.
4. Imparts Practical Skill
With the advent of globalization and elevated economic growth, the industry needs are changing in the arena of accounts and finance. With respect to that, various industry journals have indicated that 80% of accountants who used to do conventional and repetitive jobs end up in non-public accounting.
Here lies the importance of US CMA because the appropriate management accounting knowledge and skills are in fact more useful for these professionals and the skills learned from becoming a CMA US are often touted as the best in the industry for the day-to-day tasks one is having as an accountant.
US CMA, thus appear the right choice for the hiring authorities since they incorporate the real time skill and knowledge beyond the conventional accountants to be the part of strategic management decision making processes in financial issues. Hence, US CMAs being considered a future-proof secured job designation with higher employable potentialities.
US CMA Course details – US CMA Certification from IMA USA: Syllabus, Eligibility, Duration, Fees, Books and Coaching :- What is US CMA Course ? To understand the detailed overview on the US CMA course and US CMA certification from IMA…continue reading
5. The Smoothness of the Course and Exam
To make the process simpler and accessible, the IMA (the CMA exam administrator) keeps things clear, simple, and organized for applicants, particularly for the international candidates with the online US CMA exam offered through prometric centers in hundreds of locations worldwide.
To be eligible for the US CMA course exam, candidates are required to have a bachelor’s degree and to be a CMA US, the candidate has to pass a rigorous exam, and secure 2 continuous years of management accounting experience to get certified.
However, the IMA makes the process of becoming a CMA as smooth as possible. This is a huge benefit to many candidates and is one leading reason why some people choose CMA over other accounting certifications.
The exam has 2 parts, both of which include 100 MCQs and 2 essay questions to be answered within 4 hours.
6.1 Part 1 – Financial Planning, Performance and Analytics
6.2 Part 2 – Strategic Financial Management
The exam is considered not too tough not too easy type which means with due dedication and proper study support, successful clearance of this 2 part exam at first attempt is quite achievable.
7. Scope of US CMA course in India
US CMAs are important assets in all types of organizations. Completion of the course in India opens multiple ways to improve your financial skills & management qualities. They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization.
Moreover, they appreciate the business approach for managing customer value, formulating strategies, and valuing equity. They are value creators, not just merely accountants who adhere to compliance to the profession.
Corporates hire US CMA as they are considered experts in value creation and business strategy. Over the years, the prominence of the this course has been rising fabulously. It is because of the economic growth in India and large foreign business markets. One of the greatest advantages of having certification is it will open many prospects for Indian candidates.
7.1 The key drivers for US CMA course in India include
A. Growth potential in the manufacturing sector and government efforts like “Make in India” to promote Indian manufacturer’s. In this context, US CMA is huge demand in India
B. As US CMA’s are considered as experts in business strategy and cost controlling, Management consulting firms like EY, KPMG hire US CMA as management consultants for restructuring services for industries.
C. Strengthening of banking especially in rural parts of India is a key driver for the need of CMA experts.
D. Growing demand for insurance products is an opportunity for US CMAs in India.
7.2 Job positions in India
Since they are in demand in various sectors for many skills, it provides immense job opportunities in India. Below are some of the key job position once can get after completion of course.
· Research Analyst
· Cost Accountant
· Legal Advisor
· Finance Manager
· Financial Analyst
· Management Consultant
· Cost Auditor
8. US CMA Salary in India
In India, a fresh candidate in India can get a starting salary of INR 4-8 lakhs per year. This can go up to nearly INR 80 Lakhs once you become a CFO of a company.
8.1 Insights from IMA Global salary survey
The latest Global Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that holding the US CMA certification helps to add value beyond the basic compensation. The survey invitations were sent to 7,949 IMA members in the Middle East/Africa/India (MEAI) region.
A. 90% of survey respondents with certification said that US CMA gives them more confidence to perform their job at a high level. The median salary of a US CMA professional is above 76% higher than non-CMAs.
Median compensation of US CMA salary by various job roles
B. Difference in total compensation between CMAs and non-CMAs worldwide is nearly USD 23,000; a strong reason why this course is a career changing qualification.
C. 90% agree that the US CMA course helps them to work in all areas of the business, and more than 80% of respondents agree that the US CMA certification creates better career opportunities
D. Nearly 95% would recommend the certification to a friend.
8.2 Non- CMA vs.US CMA salary by region
A. Median base US CMA salary/CMA for 2020 for all participants in MEAI were USD 25,000 as compared to median based salary of USD 22,500 in year 2019.
B. Median total compensation for year 2020 stands at USD 27,000 as compared to the median total compensation of USD 25,000 during previous year.
C. Further, a majority of respondents in the middle management category, indicated that they receive a higher percentage of their total compensation largely due to bonuses based on individual or company performance.
D. The survey results indicated that respondents holding the CMA or US CMA earn a 76% higher median US CMA salary and 80% higher median total compensation compared to those who do not hold the certification.
Holding a US CMA certification also makes a person more disciplined, career oriented, smart, and motivated helping to move faster to higher management roles in the industry.
Median salary & Total compensation
By now, as seen in the last decade, about 99% of the MNCs and big companies started functioning in India and Middle East are basically of US incorporated, either directly or as a subsidiary which raise funds or listed in US stock exchanges. All these companies are required to comply with the Securities Exchange Commission (SEC).
US CMA is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, and Deloitte. They occupy managerial positions like financial controllers, Budget Analysts, Cost Auditors, Chief financial controller and many other high level positions.
Among the Middle East countries, UAE, Saudi Arabia and Egypt have the most number of IMA members representing 35%, 25% and 13% respectively. The job profiles include Financial Controller, Zakat and Taxes Supervisor, Senior Accountant, Budgeting Section Head, Group Internal Auditor, Financial Analyst etc.
The major recruiters among many include companies like Khobar, Harvest, CMACGM, Honeywell, Al Futtaim Group, Vodafone, Oriental Insurance etc. Notably, in the Gulf, Dubai becomes the top job provider for US CMAs.
Some of the Dubai based companies which hire US CMAs are Ceva Logistics, TMF Group, Transmed, Kitapi, Huhtamaki Group, KPMG, Phantom Associates, Milliman, Amazon, Sffeco Global at entry, middle and senior levels of accounting and financial management.
It has been noted that the highest number of employment for US CMAs are from the Finance /Insurance/Real Estate sectors followed by the Manufacturing Industry.
The course is pursued by students who are keen in learning budgeting and management accounting. The professionals with US CMA qualifications are preferred over other candidates, by multinational companies and established conglomerates.
In short, US CMAs are important assets in all types of organizations. Completion of the course in India is possible and opens multiple ways to improve your financial skills & management qualities.
They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization.US CMAs appreciate the business approach for managing customer value, formulating strategies, and valuing equity. CMAs are value creators, not just merely accountants who adhere to compliance to the profession.
Corporates hire US CMA as they are considered experts in value creation and business strategy. Over the years, the prominence of the course has been rising fabulously. It is because of the economic growth in India and large foreign business markets. One of the greatest advantages of having US CMA certification is it will open many prospects for Indian candidates.
Choose the best US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong back to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of our exclusive features include
A. Authorized partner of IMA US CMA course in India
B. Live online classes ensuring that the regular office working hours is least impacted
C. The dedicated faculty team for uplift live online classes are CMA US qualified with incredible marks and have more than 25 years working experience in corporate world. This help the student to learn and simulate the real life corporate working conditions which can not be attained through a CMA pass out faculty only.
D. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. Also, provides full admin support through the dedicated Uplift WhatsApp study group. We have a pass rate of 80% in US CMA course exams.
E. Pass percentage of students ” at first attempt” is about 80% in a duration of 6-9 months in comparison to near about 40-45% pass rate in a global perspective.
F. The small batch size of online classes provide effective interaction with the faculty which help personalized attention towards achieving the target of 80% “pass at first attempt”
G. Affordable US CMA course fees with special discount in your IMA fees.
H. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass. It means once you become an uplift student, you can attend unlimited live online classes till you pass at no extra cost or reregistration fees.
I. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
J. 120 hours of classes (Live Online Interactive Sessions) by veteran CMA faculties from Monday to Saturday from 9 pm to 10:30 pm
K. Recordings of live online classes available
L. In class mock session conducted by the faculty to make student aware of the exam pattern
M. Doubt clearing session before the exam window
N. Training on soft skills and interview techniques
O. Additional notes prepared by the faculty members on important topics
P. Administration Support towards IMA registration
Q. Job assistance
Request for Live Demo class / contact at +91-8787088850 to book your seats now.