Give your resume a career-enhancing boost with a Certified Management Accountant certification. If you are working in the financial, accounting, or business industry, this certification can boost your profile resulting in higher pay, more benefits, and better job opportunities. You will be at the top of the hiring list of many companies. The CMA certification is given by the Institute of Management Accountants after passing the CMA exam.

Now, you would think that you are already have done or are doing a degree course in finance, accounts, or business, why would you need another certification? The truth is that in a CMA certification course, you learn many things that are not usually taught in degree courses. And this is what puts you at an advantage over other candidates when you are applying for your dream job. Let’s look at some other advantages of having CMA certification.

Top 5 Advantages of Having CMA Certification

Some things are not included in degree courses. Industry trends keep changing and for a degree to get updated accordingly takes time. Certifications have this advantage. They are all updated to be in-tune with the latest happenings. Therefore, a CMA certification will have all the latest updates regarding accounts, business and finance.

Here are some more advantages CMA certifications have.

1. Business Appeal

The main benefit of CMA certification is that it is considered to be the best accounting certification for management as it has the perfect amalgamation of business and accounting. In CMA, you learn all about corporate governance and other important business aspects, finance, and accounting concepts, including responsible accounting. Therefore, candidates with CMA certification are allowed to take business decisions or are involved in collective business decisions. Companies trust their business acumen and they are handed important roles in an organisation. This certification makes candidates learn the difference between accounting and accounting that is profitable and efficient. Therefore, if you get a CMA certification, you will have better business appeal.

2. Growth Opportunities 

CMA is a management-level certification which brings multiple growth opportunities. When compared to college graduates without any additional certification or just CPA certifications, it was found that CMA candidates get better entry-level jobs, and opportunities to get promoted. The CMA certificate is a beacon that signals you are not just going to do accounting, you are going to take on more responsibilities and manage the accounts. Other candidates also do not grow beyond a certain position and salary, while with a CMA certification, you can quickly move into a management position.

3. More Money 

Money is the biggest motivating factor for most professionals, so why not you? Getting a CMA certification makes you eligible for a higher salary than other candidates. In recent studies, it was found that CMA certification holders earn up to 67% more than other candidates having just a degree or CPA certificate. This has grown substantially from figures of 2016. When benefits like health insurance, pension, and fringe benefits are measured, the earning potential is even more. This is because CMA certified candidates move up into management faster after gaining experience, and even when they switch jobs, they get a bigger raise as CMA certified candidates are high in demand in the job market.

4. Global Opportunities  

CMA certification has value on a global level. You may be a graduate and get a good job in your country, but if you have dreams of working abroad in another country, you will have to get CMA certification. Some countries may not give much value to your college degree, depending upon which country you have studied in and which country you want to work in. However, CMA certification is recognised and valued the world over, and you can easily apply for a job in the Western, European, and Middle Eastern countries, where the salary scales are much higher.

5. Value as an Employee 

CMA trains you to have a better understanding of business, finance, and accounts. So, you don’t merely do a task, you understand the reason behind it and you find ways of doing it efficiently to provide a better result than expected. You will become the go-to person for important questions. Your opinion will be valued, and you will soon become an integral part of the management. Many CMA certified candidates have also gone on to become CFOs. Therefore, with CMA certification, you will be valued more as an employee, and will always get your due appreciation.

6. Enhanced Leadership Skills 

CMA certification goes beyond technical accounting skills and delves into strategic management and leadership training. This equips you with the ability to lead teams and projects effectively. CMAs are trained to think strategically and make informed decisions that can shape the direction of a company. This leadership training makes CMA-certified professionals ideal candidates for upper management and executive roles, providing a pathway to significant career advancement and increased responsibility within an organization.

7. Professional Credibility and Networking 

Earning a CMA certification significantly boosts your professional credibility. It signals to employers and colleagues that you have a high level of expertise and commitment to the field of management accounting. Additionally, being a part of the CMA community gives you access to a vast network of professionals and industry leaders. This network can be invaluable for career growth, providing opportunities for mentorship, collaboration, and professional development. By connecting with other CMAs, you can stay updated on industry trends, share best practices, and explore new career opportunities.

Steps to Obtaining CMA Certification 

Pursuing a CMA certification is a strategic move to enhance your career in management accounting and finance. The process requires dedication and a structured approach to meet all the requirements. Here’s a step-by-step guide to help you navigate through the certification journey.
1. Meet the Educational Requirements:
• Obtain a bachelor’s degree from an accredited college or university.
• Alternatively, you can pursue a related professional certification if you don’t have a degree.
2. Become a Member of the IMA (Institute of Management Accountants):
• Join the IMA to be eligible for the CMA program.
3. Pay the CMA Entrance Fee:
• Submit the entrance fee to officially enter the CMA program.
4. Satisfy the Professional Experience Requirement:
• Gain two continuous years of professional experience in management accounting or financial management.
5. Prepare for the CMA Exam:
• Choose a reputable CMA review course to help you study.
• Allocate sufficient time for preparation and study both parts of the exam.
6. Register for the CMA Exam:
• Schedule your exam dates for both Part 1 and Part 2 through the IMA website.
7. Pass the CMA Exam:
Successfully complete both parts of the CMA exam, which includes:
• Part 1: Financial Reporting, Planning, Performance, and Control
• Part 2: Financial Decision Making
8. Comply with the IMA’s Statement of Ethical Professional Practice:
• Agree to adhere to the IMA’s ethical guidelines.
9. Apply for CMA Certification:
• Submit your application for the CMA certification upon completing all the above steps.
10. Maintain Your CMA Certification:

• Fulfill the annual continuing professional education (CPE) requirements to keep your certification active.
By following these steps diligently, you can achieve CMA certification and unlock new career opportunities in the field of management accounting.

Key Takeaway

If you are contemplating getting CMA certification, stop contemplating and go for it. It is going to have a huge impact on your career, and you will be glad that you have done the certification. Your dream job will be yours much quicker, and you will reach the pinnacle of your career. Enroll for a CMA certification today! You can also go for degree courses that provide CMA certification as well.

If your interest is piqued, and you would like to know more, get in touch with our counselor who will answer all your queries related to CMA certification.