Is US CMA Worth It in India? Read The Benefits and Disadvantages

India has one of the largest US CMA communities in the world. Every year, over 20,000 students pursue the US CMA course. The demand for qualified professionals increases by 15 to 20 per cent annually. MNCs, global banks, and corporations want to hire US CMA candidates. The professionals are known for their expertise in international business standards, finance management and analysis. They are a strong asset to the accounting team, offering their insights and projections to improve the company’s performance.

So, is the US CMA worth it for you? Do you stand to benefit from holding the certification? These are crucial questions to consider when you are at the start of your finance career. Lucky for you, this post will delve deep into the most significant US CMA advantages and disadvantages and how it will impact your career.

Also Read- Becoming a US CMA: The Complete Process & Preparation!

Advantages of the US CMA course

The US CMA certification is a prestigious qualification that gets you noticed by some of the top recruiters in the country. The course is perfect if you hope to build your career in management accounting, financial analysis, or strategic decision-making.

Here are some of the many benefits of the US CMA course.

1. You are a globally recognised accountant

Over 150 countries acknowledge the US CMA course, including the USA, UK, Australia, Canada, Dubai, Germany, and, of course, India. You can apply for jobs in multinational corporations within India or move abroad to work in global companies. You are also a coveted candidate in finance, accounting, and consulting firms.

2. You can complete the CMA course within a year

Some finance and accounting courses take 3 to 4 years to complete. Not this one. The US CMA course has only two exams, which can take up to a year to clear. If you sign up with a leading coaching institution like Proschool, they get you exam-ready within six months. You get thoroughly trained in financial planning, control, decision support, analysis and ethics. You don’t waste any time and can start your career as soon as possible. Is the US CMA worth it for its short duration alone? Absolutely!

3. There is a high demand for US CMA in India

Unless you have been stranded on a deserted island for over a decade, you know that India has become an international business hub, with large MNCs, tech companies and banks setting up shop on our shores. These companies want management accountants who are trained in global standards. They prefer to hire US CMA professionals who are experts in financial management, strategic planning, analysis, budgeting and decision-making. One of the main US CMA benefits in India is that you become a coveted hire in a competitive job market.

4. You get access to incredible career opportunities

The course material is based on real industry needs. US CMA accountants learn relevant concepts, knowledge and skills in management accounting. They are paid higher salaries than candidates who lack the same qualifications. According to the 2023 IMA global salary survey, a US CMA credential can help you earn 20 per cent more than uncertified peers.

The US CMA is also worth it if you hope to move into leadership roles within the industry. It is not uncommon for CMA holders to occupy high-ranking positions such as VP, director or CFO.

5. The course is ideal for freshers as well as professionals.

Is the US CMA worth it for freshers or working professionals? The good news is, it’s perfect for both. If you are starting your career, the certification gives you an edge over your peers. If you have been in the industry for a while, a US CMA certificate will give your career a significant boost.

6. You can incorporate a flexible learning schedule

The exams are rigorous and challenging. So is the US CMA worth it? If you think smart and develop a strong study plan, then yes! Full-time students and working professionals can take the exams without disrupting their schedules. You can take either exam first, select the most convenient test date and access online study resources. If you sign up with a coaching class, it will help you manage your time better.

7. You become a part of a global network

As an IMA member, you are a part of a community of international finance professionals. You can connect with other peers, industry experts and leaders and attend webinars and training sessions. The IMA also arranges various industry events that can lead to new opportunities and developments. There are many US CMA benefits to explore once you receive your certification.

Also Read- US CMA vs MBA : 7 Differences and 3 Factors to Help You Decide

Disadvantages of the US CMA course

There are certain cons to doing the US CMA certification as well. It is important to examine these US CMA disadvantages and see if they can impact your career. They will also help you decide if the US CMA is worth it.

1. Some Indian companies prefer Indian qualifications

While the US CMA is globally renowned and preferred by MNCs, smaller Indian firms may prefer home-grown certifications such as the CA or CMA India. US CMA holders might not be as well versed in Indian tax laws or auditing.

2. The emphasis is on global accounting standards

Part of the US CMA curriculum is focused on global management practices and accounting standards such as IFRS and US GAAP. Subjects such as IndAS or Indian taxation laws are not covered. These are important if you want to work in a domestic firm. The US CMA is worth it if you join an MNC.

3. The exams are quite rigorous

There is a reason why the US CMA is so revered by recruiting companies. The course trains students to become high-calibre accounting professionals. The exams test your proficiency level in financial management, accounting concepts, and practices. You have to work hard and prove your capabilities to pass the course. It is tough but not impossible. Is it worth doing the US CMA with a coaching centre? Yes, a high-quality institution will ensure you understand the study material and are ready to ace the exams.

4. It might be tough to apply for government jobs.

The Indian government and regulatory branches don’t hire US CMA professionals, especially in cost auditing and compliance. They also prefer to use the Indian accounting standards instead of international standards.

Also Read- US CMA Salaries In India – What will you earn throughout your career?

How to Decide if US CMA is Right for You

Here is a checklist for professionals ideal for the US CMA course. If you agree with one or more of the following statements, then it is worth doing the US CMA in India.

• You want to work in finance, accounting or management roles with multinational companies, global banks or international investment firms.
• You hope to migrate abroad and want a universally recognised accounting credential.
• You are a working professional seeking qualifications for career advancement within a short time frame.
• You are looking for an inexpensive, all-inclusive course that doesn’t go over Rs 2 lakhs.
• You have a strong analytical mind, are good at critical thinking and hope to move into leadership roles in the future.

 

Also Read- US CMA Eligibility Explained: Education Criteria, and Direct Entry Options!

Emerging Trends and Future Scope of US CMA

The corporate world is rapidly changing as new technology and advancements appear. Is CMA US worth it? Does this certification offer job stability? Is there a future? Let’s find out by examining the emerging trends in the industry.

1. Enhanced strategic thinking and decision-making

CMA professionals have always played a role in the decision-making processes. However, they are now expected to elevate this skill to improve productivity significantly. They offer insightful thinking and financial analysis to guide the organisation in the right direction.

2. Knowledge of data analytics and visualisation

Big data is everywhere. There is no escaping it. CMA professionals are learning how to use data analytics to their advantage. They must know relevant software tools like Power BI and Tableau to decode complex data and provide insights.

3. Awareness of ESG factors

Today, many organisations give special priority to environmental, social, and governance (ESG) factors. CMA professionals are required to develop sustainable practices and ESG reporting.

4. Focus on Cybersecurity

US CMA professionals are trained in risk management. However, they must upgrade their skills to manage cybersecurity risks and comply with data protection regulations.

Also Read- US CMA Course Fees – Exam, Coaching, Study Material, Total Cost etc.

Learn the US CMA course with Proschool

Proschool is one of the best coaching institutions for the US CMA course. If you want to pass your exams and understand the nuances of the finance industry, then sign up here. The faculty has professors who are industry experts, using their experience and knowledge to create a comprehensive learning experience for students. They teach using active learning methods, advanced training techniques and real-world case studies. If you decide that the US CMA is worth it, then Proschool is the best place to learn the study material and sharpen your skills.

Proschool’s US CMA benefits:

• You can attend online or offline classes.
• More than 15 coaching centres are available across India, including Delhi, Mumbai, Chennai, Kolkata and Pune.
• Students can access informational videos, full-length mock tests and the latest IMA-approved study material.
• If you don’t pass on your first attempt, you can take the entire module a second time for free.
• There are over 90 essay questions and 4,000 MCQs available for exam practice.
• Proschool also offers mock interview sessions, resume writing help and placement assistance.

Conclusion

The time has come for you to decide if the US CMA is worth it in India. Does this certification align with your career goals, chosen job profiles and salary expectations? If you want to work in leadership positions with MNCs in India or seek global opportunities, then go for it. This course is your best bet. The US CMA has advantages and disadvantages, so ensure you examine both before enrolling in the course.

FAQs

Which countries are the best for US CMA professionals to work in?

The certification is valid in over 150 countries, so take your pick! You can work in the USA, UK, Germany, Canada, Switzerland, Dubai and India. Any country that is a global business hub is perfect for US CMA professionals.

What is the scope of CMA USA in India?

You can work in several job profiles across various industries. Some of the more popular positions held by CMA professionals are:

• Financial planning and analysis professional
• Management accountant
• Financial controller
• Internal auditor
• Cost accountant
• Treasury manager
• Budget analyst

How does the US CMA compare to the Indian CA, in terms of recognition and salary?

The US CMA course is widely recognised among international companies and financial institutions. CA is preferred by Indian firms and government organisations.

Entry-level CMA professionals can earn Rs 5 lakhs to Rs 8 lakhs a year, while CA freshers can make Rs 6 lakhs to Rs 9 lakhs.

What is the average completion time for US CMA certification?

Students can take six months to a year to prepare for the exams. You also need two years of work experience (if you don’t already have it).