US CMA or MBA? The career dilemma in Indian context – 2023 | Uplift Professionals
We often face the dilemma when it comes to select a career path particularly after obtaining a B.Com degree. Among the traditional options, one is the CA course and other is the MBA(Finance). Apart from these, the new addition is the US CMA(Certified Management Accountant) – a globally accepted professional course.
For benefit of our students, here, we intend to compare the US CMA course with the MBA in Indian backdrop as follows:
Acceptance
The US CMA is a globally recognized professional certification conducted by IMA, an international body. On the other hand, MBA is an academic degree conferred by individual regional institutes where brand value of the respective institutes is reflected in the hiring process. Hence, in terms of acceptability, US CMA has much wider scope in the national as well as international job market in comparison to MBA from India.
Affordability
If we consider the cost of both the courses, one can easily see the huge gap in the expenditure. In general, a MBA costs about INR 8-50 lakhs depending on the enrollment to a general or premier business schools. To meet up this expenditure, students very often has to for an education loan.
In contrast, to complete the US CMA course certification, one has to spend a maximum of INR 1.5 lakhs only. Even some IMA approved service providers like Uplift Pro has flexible payment options to help the students who want to pursue US CMA course. Moreover, being a US CMA, one gets 5-10 times more exposure in the global job market as well as MNCs in India as compared to Indian MBAs.
Eligibility
Both MBA and US CMA require a bachelor’s degree at the entry level. However, a student pursuing B.Com can still pursue and sit for US CMA exam at the same time, while the same student is able to enroll for MBA only after completion of his/ her B.Com degree with 50% marks.
Hence, US CMA has more flexible and time saving eligibility option than admission to MBA in India.
Entry
In India, pursuing MBA from a premier institute is not that easy. One has to obtain higher rank through CAT(Common Admission Test). This also need dedicated preparation, coaching help for the admission test and hefty tuition fees for the preparation. In comparison, US CMA doesn’t have any entrance test for enrollment. One can enter directly with required academic qualification and acquire required work experience to get the certificate. Thus, it saves both time and money.
Salary
In India, the salary of a MBA directly depends on the brand/name of the institute from where the student passes out. Particularly from those B schools having regular campus interviews with the top companies. Thus, passing out from a less rated college won’t allow much value addition and the salary remain at much lower side like INR 3 lakhs per year on average depending on the company and location. On the other hand, being a global certification, US CMA has great advantage in all financial sectors required by the reputed MNCs for management positions. The range of salary of a US CMA varies from 4-80 lakhs per year for entry level and senior positions respectively.
Summary
To sum up, it can be stated that, US CMA has clear cut edge over MBA in India, particularly, after B.Com, due to following reasons:
a) Admission
b) Affordability/ economy
c) Duration
d) Salary & Job opportunities
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. 1:1 personal support from our 30 plus years of experienced CMA certified faculties
D. Affordable US CMA course fees with special discount in your IMA fees.
E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass
F. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
Request for Live Demo class / contact at +91-8787088850 to book your seats now.