US CMA course or MBA, which of the two is better? Are you confused on choosing the right course? In this article, we help you to provide insights on US CMA course and MBA.
US CMA course vs. MBA
When it comes to different career options for a commerce graduate, the most common careers after B.Com includes US CMA, MBA, M.Com, CA to name a few. Among these, US CMA is one such impressive international course in field of management and accounting.
CMA stands for Certified Management Accountant and is offered by the Institute of Certified Management Accountants (IMA). Earning the US CMA can give you the career boost you are looking for .They also have an excellent absorption rate all over the world. Currently, CMA has presence in over 100 countries including the United States (US).
The major difference between US CMA qualification and a MBA degree is that the US CMA is a professional certification while the MBA is an academic degree. There are some key differences between these that you should know before choosing either path.
Career path of US CMA vs. MBA
US CMA is an international qualification and is one of the best course for students seeking jobs outside India. US CMAs can occupy positions such as Research Analyst, Cost Accountant, Financial analyst, Finance manager or Financial C-Suite roles. They often become experts in field of accounting and finance departments of an organization.
On the other hand, MBAs works in different business functions of an organisation including strategy, finance planning, and management consultant. MBA degree is well suited to a professional who looks to enter in to broader areas of business functions.
Eligibility for US CMA course vs. MBA
Both US CMA and MBA require a bachelor’s degree as basic eligibility. However, Students who are pursuing their bachelors are eligible to take the CMA exams. Another, key requirement of US CMA course is that students have to meet the CMA work experience requirements. These include
- Two years of professional experience in accounting or finance
- For fresher’s the experience requirement may be completed within 7 years of passing the examination.
Course details – US CMA course vs. MBA
Regarding US CMA course details , the course has just 2 parts which can be cleared in 7 to 9 months’ time. One key advantage is that you can complete the course without disturbing your current commitments. This is highly beneficial for working professionals who wishes to up skill and accelerate their career paths.
It is seen that students who are finishing undergraduate degree take the CMA Exam and then complete the certification process once you have qualified the work experience criteria.
These days most of the US CMA course institutes provide live online classes which adds flexibility to this program. Uplift Pro is one such premier institute in India offering live interactive online classes. They have a pass rate of 85% as compared to worldwide pass-percentage for CMA US is 45%.
In contrast, a full time MBA course has two years of duration. This may extend if you plan to complete the course through distance or part-time learning. Thus earning a US CMA certification has a competitive advantage on completing the course faster than a MBA degree.
US CMA course fee vs. MBA course fee
Course fee is an important criteria largely due to ever-rising tuition rates. In general, a MBA from a premium B-School, it costs INR 20 lakhs to INR 50 lakhs. Even a Tie2- 2 institution in India charges a minimum of 5 lakhs to 8 lakhs.
In case of US CMA course fee, one needs to spend a maximum of INR 1.5 lakh (inclusive all) to be a US CMA. But the interesting thing is that one gets 5 to 10 times more exposure in the international job market and MNCs within India being a US CMA compared to an MBA Finance. Thus US CMA course fees is affordable.
Salary after US CMA course vs. MBA
CMA US is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, Deloitte and so on for the managerial positions.
The below image depicts the US CMA Salary in India.
The salary structure of a MBA professional depends on the brand name of the business schools from where you attain your MBA degree. It is found that there is a high pay gap between students who complete degree from premier institute like IIM, ISB, and IIFT than compared to a tier 2 college. The truth lies in the fact that many top companies recruit students from only these top business schools.
Typically, an average Indian passing out from a tier 2 college gets an annual package staying from INR 3 lakh, which may vary depending on location and companies.
IMA’s 2021 Global salary survey on CMA
The latest Global Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that a median salary of a CMA professional is above 58% higher than non-CMAs and MBA. The study was based on a sample population of 3,085 respondents from 79 countries across the globe.
In the study, It was found that the difference in total compensation between CMAs and non-CMAs (including MBA) worldwide is nearly US$29,000; a strong reason why a US CMA course is a career changing qualification.
Figure 1: Median salary and Total compensation by region, CMA VS. NON-CMA
Summary
Based on the above parameters, we can clearly say that US CMA is better than the MBA for the B.COM graduates in the following manner:
- Duration of course
- Salary and Job opportunities
- Flexibility of the course
Choose the best US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CMA, US CPA US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center.
Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of the exclusive features include.
A. Authorized partner of IMA US CMA course in India
B. Live online classes ensuring that the regular office working hours is least impacted
C. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. We have a pass rate of 80% in US CMA course exams
D. Affordable US CMA course fees with special discount in your IMA fees.
E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass
F. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
For more details please write us here: info@upliftprofessionals.in
Request for Live Demo class / contact at +91-8787088850 to book your seats now.
Great article about CMA course and MBA course. Thanks for this course.