How to Give Your Career a Boost with CMA Certification

You must have heard the terms IMA CMA more than usual this year. This is because the pandemic has caused many companies to re-organize their workforce completely. CMA or Certified Management Accountants are highly desired in all sectors in all countries. The Institute of Management Accountants (IMA) is primarily responsible for delivering CMAs to the world.

But why does everyone want to be a CMA? Well, the answer lies in the rigorous training you have to go through to become one. A CMA will have cleared two difficult exams after studying for years. They are more versatile than accountants and can always find a place to fit in when it comes to the top companies. Let’s take a look at how being a CMA can enhance your career trajectory.

Growth 

Compared to college graduates who lack any additional certifications or even those who have a CPA certification, CMAs get significantly better entry-level jobs. The scope for a promotion is also much higher than the rest because the simple act of having a CMA accreditation means that you can do more than simple accounting and can take on many more roles and responsibilities. This is why CMAs are quick to move to management positions.

Global Opportunities

IMA CMA is not a certification that is restricted to one domestic area. You could be from anywhere in the world, and you would have global value. Being a CMA opens a whole host of possibilities to work somewhere other than where you live. This also means that if you want to move to countries with a higher salary bracket, then CMA makes that goal instantly achievable. The credential is in-demand worldwide, and people will hire you from anywhere if you’re a CMA.

Higher Salaries

Recent studies have shown that CMAs, on average, earn up to 67% more than their CPA counterparts. This is because CMAs can work far beyond their scope as they are equipped to do so. When benefits are taken into consideration, a CMA holder’s potential earnings outrank a simple college graduate. 

As mentioned earlier, CMAs are quick to get promoted, which compounds their salaries at an exponential rate. Furthermore, when a CMA switches jobs, their hikes are not determined by the market standard, so they get an increase much higher than others.

Appeal

A CMA certification is a perfect combination of business and accounting. This is why it is considered to be the most lucrative and extensive accounting certification for management. Corporate governance is an essential component of CMA, which means that a CMA can help develop business strategies and make essential business decisions.

Value

CMA training means not only understanding accounting but also having a firm grasp of business and finance. This is why CMAs are quickly bumped to management positions and why they are generally head-hunted by top companies. Being a versatile resource is what makes companies chase you.

The Outlook

CMAs have to go through a lot before claiming the certification, and companies are well aware of this. To become a CMA alone is sufficient to boost your career prospects by a considerable margin. Even if you don’t have an accounting background but wish to pursue a job in the business sector, CMA can help you transition into this world.