1. The CMA Is the Gold Standard in Management Accounting
Your aunts and neighbours may have never heard of the CMA, but in the corporate accounting world, CMA is a very respected designation.
The CMA is an advanced professional certification specifically designed to measure the critical accounting and financial management skills. This is especially relevant for success in a business environment. Here are some tangible benefits you can enjoy after becoming a CMA.
2. It’s Arguably the Most Global Management Accounting Certification.
The CIMA is the largest in this niche, but the vast majority of members are located in the UK and to a lesser extent Europe and Commonwealth countries.
The number of US CMAs is smaller, but the certification is now the most popular management accounting certification not only in the US but also in the fastest developing regions, namely China and the Middle East. As you can see from the chart 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).
3. CMAs Get Paid More
Let’s face it — we want to learn, but ultimately, we need the certification to get better-paying jobs. According to a comprehensive study by the IMA, CMA certification holders earn 67% more than their non-certified counterparts.
4. For Many, CMA Skills Are More Practical
Various industry journals have indicated that 80% of accountants end up in non-public accounting. The management accounting knowledge and skills are in fact more useful for these professionals. Additionally, many dual CPA and CMA holders find the materials covered by the CMA more interesting and practical in their daily work.
5. The Becker Makes It Easy for Us
Unlike the CPA Exam in which getting qualified is sometimes harder than passing the exam itself, the Becker keeps things clear, simple and organized for applicants. The Becker openly welcomes international candidates with the exam offered in hundreds of locations worldwide.
Don’t get me wrong — earning the CMA is not easier because of a low barrier of entry. Candidates are still required to have a bachelors degree, pass a rigorous exam, and secure 2 continuous years of management accounting experience to get certified.
However, the Becker makes the process of becoming a CMA as smooth as possible. Candidates can focus on passing the exam and fulfilling the experience instead of getting stuck with the bureaucracy and conflicting rules from different state boards like those involved in the CPA certification process.