If you’re considering a career in management accounting, the Certified Management Accountant (CMA) certification is a powerful credential that can help you stand out in the field. Recognized globally, the CMA certification is designed for financial professionals who want to enhance their expertise in financial management and strategic business decision-making.
The CMA program equips you with essential skills in areas such as financial planning, analysis, control, and decision support, making you a valuable asset to any organization. Whether you aim to work in corporate finance, accounting, or a leadership role, the CMA certification opens doors to numerous opportunities and helps you advance your career. Let’s explore the data below to know what the CMA certification entails, the benefits of becoming a CMA, and how it can shape your professional journey.
Table of contents
- Career Opportunities for CMAs
- Salary Prospects of a CMAs
- Role-Wise Breakup of CMA Jobs
- Hike Criteria of a CMAs
- Exposure of CMAs in Top MNCs
- Future Of CMA’s
- Why Elance is the Best Institute for CMA USA in Kerala
Career Opportunities for CMAs
- Financial Management and Analysis
Roles: Financial Analyst, Financial Manager, Financial Controller
Responsibilities: Overseeing financial operations, analyzing financial data, developing financial strategies, and advising on financial decisions.
- Corporate Management
Roles: Chief Financial Officer (CFO), Finance Director, Corporate Controller
Responsibilities: Leading financial departments, strategic planning, risk management, and decision-making at the highest levels of corporate management.
- Management Consulting and Advisory Services
Roles: Management Consultant, Financial Advisor, Business Analyst
Responsibilities: Providing expert advice on financial planning, business strategy, performance improvement, and organizational management.
- Budgeting and Planning
Roles: Budget Analyst, Budget Manager, Planning Manager
Responsibilities: Preparing budget reports, developing budget models, monitoring and analyzing spending, and assisting in financial planning and forecasting.
- Risk Management and Internal Auditing
Roles: Risk Manager, Internal Auditor, Compliance Officer
Responsibilities: Assessing and mitigating financial risks, ensuring compliance with regulations, and conducting audits of financial and operational activities.
- Cost Management
Roles: Cost Accountant, Cost Analyst, Cost Manager
Responsibilities: Analyzing costs, preparing cost reports, and recommending cost-saving strategies.
- Education and Training
Roles: Accounting Educator, Corporate Trainer, Workshop Facilitator
Responsibilities: Teaching accounting principles, providing training on financial management topics, and developing educational content.
- Entrepreneurial Opportunities
Roles: Business Owner, Financial Consultant
Responsibilities: Starting or managing a business, providing financial consultancy services.
Salary Prospects of a CMAs
CMA professionals gain a high reputation with a well remuneration.
See what salary package a CMA professional earns with their year of expertise.
Role-Wise Breakup of CMA Jobs
CMA Profession opens a wide variety of roles. Here are some of the main job roles that a CMA professional can Excel.
- Financial Analysts and Accountants: Mid-career professionals might earn between INR 8 to 13 lakhs per annum.
- Finance Managers and Controllers: Experienced professionals in these roles can expect salaries in the range of INR 12 to 21 lakhs per annum.
- Chief Financial Officers (CFOs): In this top executive role, salaries can exceed INR 30 lakhs per annum, depending on the company’s size and profitability.
Hike Criteria of a CMAs
See what are the hike criterias for a CMA professional.
- Negotiation Skills and Performance
- Effective negotiation and high performance can potentially increase salaries by 10-20% above the average ranges for the respective categories.
- According to IMA 2023 Salary Survey shows that CMAs earn 21% more than non-certified management accountants, as CMAs have higher qualifications, skills, and expertise
Exposure of CMAs in Top MNCs
CMAs are a crucial part of Multinationl Companies.
Here is data about the salary details of a CMA professional in a world’s Top Companies.
In Big 4
Some other companies
- IQVIA: Those with 2+ years of experience earn between INR 5-6 lakh annually.
- L&T Construction: INR 8.3 lakh. Individuals with 1-3 years of experience receive salaries ranging from INR 7.0 lakh to INR 10.0 lakh.
- Larsen & Toubro Limited: INR 8.3 lakh. Those with 0-2 years of experience earn between INR 6.3 lakh and INR 10.0 lakh.
- Accenture: INR 9.8 lakh. Professionals with 0-1 years of experience earn salaries ranging from INR 7.0 lakh to INR 12.0 lakh.
Future Of CMA’s
- Adapting to Tech Advances
- Expanded Role Beyond Traditional Accounting
- Embracing Data Analytics and AI
- Navigating Ethics
- Future Job Prospects and Demand
- Continuous Learning and Adaptability
- Certified Management Accountant is a role that is continually growing and in high demand and is expected to see an 11% rise by 2027
Future Job Prospects
- Reporting Analyst
- Financial Consultant
- Management Accounting Analyst
Types of Roles and Industries:
- Management Accounting
- Strategic Management
- Financial Management
- Risk Management and Compliance
Why Elance is the Best Institute for CMA USA in Kerala
Elance stands out as the best commerce education provider in Kerala, thanks to our commitment to creating a comprehensive learning atmosphere for every student. Our team features some of India’s finest educators, each with extensive teaching and industry experience.
Beyond exceptional faculty, Elance offers unparalleled support, including personalized mentorship, dedicated coordinators, and robust online guidance. Our innovative Elance Learning App ensures 24/7 access to recorded classes and continuous tracking of your progress.
We’re also proud to introduce our Complete Study Planner App, featuring the groundbreaking Virtual AI Mentor, Elant. This app offers unique features such as Study Buddy and a dynamic Learning Community, making your study experience both engaging and effective.
In just five years, Elance has celebrated incredible achievements: 29+ Global Ranks, 56+ All India Ranks, and 5 Affiliate Ranks. We’ve successfully guided over 2000 students to pass their exams in just two consecutive sessions, and our affiliates now thrive in top multinational corporations worldwide.
Elance is more than a growing institution; it’s a powerhouse of success, nurturing the next generation of commerce professionals.
