Unlock Career Success with CMA in USA 2024: Key Details

If you wish to take your career in finance and accounting to the next level, completing a CMA in the USA can be a game-changer. CMA, or the Certified Management Accountant, is a globally accepted management accounting accreditation recognized in 150+ countries. Awarded by the Institute of Management Accountants (IMA), CMA helps candidates achieve career growth. Let’s explore eligibility, syllabus, and other details for CMA in the USA. 

Key Highlights 

CMA Course Eligibility in USA

The eligibility requirements for obtaining CMA in the USA include the following:

• You need an active IMA membership to participate in the course.
• A bachelor's degree in the relevant academic field is a must. 
• You must have paid a CMA entrance fee. This is only valid for three years from the date of payment. Therefore, you must get a pass grade for both parts within this period. If you fail to do so, you need to pay the fee again.
• A minimum of two years of work experience after completing a bachelor's degree is required. However, the work experience must be related to accounting or financial management. 

CMA USA Course Fees

Source: IMA Official Website 

How to Apply for CMA in USA

You can earn a CMA certification by following the given steps:

Step 1: Get enrolled in the CMA program 

To get started with CMA certification, you should register with the IMA as a member by paying the membership fee and enrolling in the CMA program. 

Step 2: Prepare for the CMA exams 

You will have to study accounting and finance concepts thoroughly and complete the requisite coursework to crack both parts of the CMA exam. 

Step3: Register for CMA Exams

After paying the required fees, you will be able to register for the CMA exam. You need to take exams within three years of registration. You can attempt part 1 and part 2 any number of times during this time.

Step 4: Complete necessary work experience and educational qualifications

Once you have completed and secured pass marks in each part, you must prove your educational qualification and two years of work experience. You can provide this proof within seven of clearing the exams. 

How to Prepare for CMA

CMA is a rigorous examination and helps you achieve the requisite expertise and skills to progress in your accounting career. If you are wondering how to ace the exam, here are a few preparation tips to help you:

• Find the best study method after carefully reviewing the CMA syllabus. Several study methods exist, such as live instructions, virtual classrooms, or self-learning. Different students have excelled using various modes of study.
• Choose a reliable course provider. You can refer to various exam prep courses by IMA-approved providers. These can help you cover various concepts, define an exam strategy, and practice past questions.
• Register for the exam in a timely manner. Since the exams need to be completed within three years of registration, it is imperative that you streamline your preparation strategy accordingly and register for the exams well in advance.
• Prepare in a productive environment. It is important to remain focused during your CMA preparation. Thus, you should study in an environment that is devoid of distractions. 
• Maintain your physical and mental health. During your preparation, it is crucial to take care of your physical health by following a healthy diet. Moreover, you should take regular breaks or spend time with loved ones to stay mentally healthy.

CMA Syllabus

Career Opportunities in USA After CMA

A CMA certification can provide a significant boost to your career. Most CMA-certified professionals report 21% higher salaries than their non-CMA peers, as per IMA’s Global Salary Survey Report 2023. Here are some of the popular, lucrative jobs after CMA certification with their respective salaries: 

Source: Glassdoor(as of February 2024)

Conclusion

CMA in the USA can be an excellent certification opportunity to grow your career. It has been proven to help with career growth in all aspects, especially when it comes to salary hikes. CMA certification can be the ultimate choice if you are wondering how to move forward with your finance career. 

Disclaimer: All salaries and course fees mentioned above are subject to change

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