It is quite obvious that in order to cope with the intense competition in global economy, every business need to attain dynamicity in its operation. To achieve this, today’s employers require excellence in their financial management and accounting skills with ethical values and smart technology. This has direct importance of pursuing a US CMA course.
US CMA is one of the sought after qualification that can fetch bright careers in accounting and finance domains having better placement availability in India and abroad. Apart from the basic accounting practices, US CMAs are also concerned with the fund allocations and management also. They have expertise to implement updated advanced methodologies in cost and overall business management as per the global standard.
Among the two types of CMA courses, CMA India offered by the Institute of Cost and Management Accountants of India (ICMAI), while CMA US course, a globally recognized certification offered by IMA USA.
About US CMA Course
1. US CMA course has a duration of about 3 years plus a 6 month articleship and it give impetus to cost reduction mainly.
2.US CMA course, on the other hand, permits some exemptions in certain subjects which are taught at undergraduate levels and doesn’t have any articleship program, thus can be completed within 6 month to 1 year span.
3. Apart from cost reduction, US CMA course has focus on cost controls and auditing with strategic financial planning.
Based on above fact, it is apparent that US can be completed in shorter time than CMA India and has broader job opportunities as it covers both India and overseas employers.
Reasons why US CMAs are in high demand in today’s business settings
1. Skill: The US CMA course is designed in such a way that a CMA US holder can add specific skills to provide value to an organization. Since the skillset include Planning, Analysis, Risk Management and Decision Support, it spreads wings beyond the finance team throughout the company.
2. Supply Chain Management : This is one of the challenging area to handle amidst the the problems in the global supply chain. This is one of one of the special skill included in US CMA curriculum. This appeared to be utmost relevant for the employers to tackle the challenges they face to maintain their supply chain effectively.
3. Bridging the Gap: As today’s business demand multitasking decision making financial planners rather than orthodox accounting dealing with repetitive tasks, there is a widening gap between speciality job openings and availability of appropriate candidates in finance and accounting arena.
US CMAs having relevant skills and expertise mingled with upcoming methodologies are quite capable of cementing the gaps and, thus, are in high demand than their non CMA accountants as reflected by higher salaries and increased job opportunities across the globe.
4. Diversification: While the job opportunity a CMA India is restricted to Indian organizations only, US CMAs,being a global certification, are eligible to work in any countries. Furthermore, US CMAs have increasing demand at any type of organizations from service sectors to manufacturing industries and accounting farms. This is further corroborated by the job opportunities of US CMAs in diversified areas like Finance, Analysis, Decision making etc. which renders greater value addition to the company.
5. Beyond the Barrier: US CMAs having the background knowledge of strategic thinking and analysis, are preferred by the recruiters since US CMAs can act beyond the boundaries of conventional accountants.
US CMAs are thus considered to play the role of a “Business Partner” rather than merely an accountant. This also has a great impact on rising demand of US CMAs to get hired by the companies and worth of getting higher salaries than non CMAs.
US CMA salary in India
The latest Middle East/Africa/ India (MEAI) CMA Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that a median salary of a US CMA professional is above 76% higher than non-CMAs.
The survey invitations were sent to 7,949 IMA members in the Middle East/Africa/India (MEAI) region. It was found that the difference in total compensation between CMAs and non-CMAs worldwide is nearly USD 23,000.
The survey results indicate the median total compensation in India stands at USD 16,300, as compared to salary in MEAI (USD 27,000) and globally (USD 67,500). Further, the respondents holding the US CMA in India, has an average total compensation of USD 29,685, which is 53% higher compared to non-CMAs in India.
In addition, for those in top management in India, average total compensation was 45% greater compared to those in senior management. For further reading we have additional articles on US CMA salary.
Major US CMA job positions
1. Finance Controller
2.Tax analyst & Consultant
3.Research Analyst
4.Cost Accountant
5.Legal Advisor
6.Finance Manager
7.Cost Auditor
8.Forensic Accountant
9.Financial Analyst
10.Cost Estimator
11.Assistant Controller
12.Compliance Manager
Key companies offering US CMA jobs in India
Among many, some of the Big 4 and other companies those hire CMA US applicants are mentioned below as examples.
Deloitte, PWC, KPMG, EY, Accenture, Infosys, Cognizant, HP, Barclays, Max Life, Morgan Stanley, Amazon, Genpact, Honeywell etc.
Since, accounting is the backbone of every industry and business, to be at par with globalization, a professional accounting credential like US CMA has been appearing as a top preferred career option among the Indian students with a commerce background. In addition, being a highest management accounting certification, the scope of US CMA spans across various levels in a company.
Median compensation of US CMA salary by various job roles
In India, a fresh US CMA candidate in India can get a starting salary of INR 4-8 lakhs per year. This can go up to nearly INR 80 Lakhs once you become a CFO of a company.
Market outlook on US CMA job opportunities – India
According to BLS( Bureau of Labor Statistics), in India, the employment in the accounting field will increase by 10% within 2026, thus indicating increasing opportunities for US CMA jobs. Doubtlessly, it can be stated that CMA US certification can enlighten your future career graph in the arena of accountancy and finance in Indian backdrop.
Summary
To summarize, considering the above reasons, it can be stated that US CMAs have increased global demand in the job market along with elevated salaries. The specific and versatile upgraded skills of US CMAs make them more relevant and employable at par with the global economic boost.
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 CPA, US CMA, US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized US CMA course study center. We train students for US CMA through live online classes instead of pre recorded videos.
Being an authorized study partner of IMA US for US CMA course and an Indian partner of Gleim International, that provide premium time tested study materials, the Uplift team of mentors are selected from well qualified seasoned professionals with corporate exposure.
Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong back to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of our 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. The dedicated faculty team for uplift live online US CMA classes are CMA US qualified with incredible marks and have more than 25 years working experience in corporate world. This help the student to learn and simulate the real life corporate working conditions which can not be attained through a CMA pass out faculty only.
D. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. Also, provides full admin support through the dedicated Uplift WhatsApp study group. We have a pass rate of 80% in US CMA course exams.
E. Pass percentage of US CMA students ” at first attempt” is about 80% in a duration of 6-9 months in comparison to near about 40-45% pass rate in a global perspective.
F. The small batch size of online classes provide effective interaction with the faculty which help personalized attention towards achieving the target of 80% “pass at first attempt”. Frequent mock tests to make a student exam-ready.
G. Affordable US CMA course fees with special discount in your IMA fees.
H. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass. It means once you become an uplift student, you can attend unlimited live online classes till you pass at no extra cost or reregistration fees.
I. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
J. Provide full video recordings of each live class to every student on the next morning for revisions. Dedicated WhatsApp support group for 24*7 doubt clearing sessions beyond the class.
K. Provide EMI options for payment of tuition fees and 0% interest loan facilities.
Request for Live Demo class / contact at +91-8787088850 to book your seats now. New US CMA batch to start soon.