US CMA vs CIMA: Differences & 8 Factors to Help You Decide

It is a nice time to be a management accountant in India. The current corporate climate has created a demand for globally qualified professionals to take the financial reins and ensure organisations make informed business decisions. Management accountants are the backbone of any corporation. They help with strategising, budgeting, planning and managing risks. The job requires number crunching with visionary thinking. A sharp, analytical professional who can assess financial data and find solutions to improve productivity and profitability.

So how do you become a management accountant? There are many qualifications for this position, but if you are looking at your career through a global lens, then the CIMA and US CMA courses offer two of the best certifications in accounting. Students who have studied both courses have risen to prominent positions within the industry.

Either certification can help your budding career. All you have to do is pick one. So do you know which course is best for you? Or do you need more information? Here are all the facts and details about the two and hopefully the answer to your question, “CIMA vs CMA USA, which is better?”

A Brief About both The courses

Many students have asked, “Are US CMA and CIMA the same?” Both are very good management accounting courses in management accounting, but they are not the same. If you want to work in leadership positions with leading global companies, you need the skills and abilities for such roles.

The Certified Management Accountant course gives you the expertise you need to be on par with the best management accountants in the world. The US CMA program has been created by the Institute of Management Accountants (IMA) to help accounting professionals learn how to empower financial operations and make strategic business decisions.

Today, over 100,000 US CMA holders have made their presence felt in more than 150 countries. They form an elite network of management accountants who support and guide each other through various industry developments.

When deciding between CIMA and US CMA, it is essential to understand the key differences. CIMA stands for the Chartered Institute of Management Accountants — an organisation with over 250,000 members across 180 countries. It is one of the largest accounting body in the world. CIMA-qualified professionals are working in over 4,500 companies in fields such as financial analysis, corporate finance, risk management and business analysis. The program’s main focus is business management and strategy.

CIMA vs US CMA: What Each Course Trains You For?

A US CMA professional can help businesses improve their performance by using deep financial insights and data-backed strategies. There is more to this role than just crunching numbers. Although, that is also important. A certified management accountant is proficient in financial planning and analysis, strategic decision-making, risk management, cost management, internal controls, budget planning and compliance with international accounting standards.

The CIMA course ensures students learn valuable strategic business and management skills to help them deal with various challenges in management accounting. CIMA professionals are also well-versed in financial accounting and business accounting. The course is in collaboration with CPA US to offer the CGMA credential.

Also Read – CMA India vs CMA USA: Differences and 11 factors to help you decide

Let’s Look At The Advantages Of Each Certification

Advantages of US CMA

1. You can work with international companies in India or countries like the US, UK, UAE, Canada, and Germany.
2. You learn how to monitor, analyse and manage a company’s finances.
3. The CMA program prepares you to move into upper management roles.
4. You receive the latest, most relevant education in management accounting.
5. CMA US holders earn 20 per cent more than non-CMA professionals (2023 CMA USA global salary survey).
6. This course benefits freshers as well as working professionals.
7. You pay Rs 1.6 lakhs to Rs 2 lakhs for the course & training fees but can start working in a job that pays an annual salary of Rs 5 lakhs to Rs 7 lakhs.

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Advantages Of CIMA

1. CIMA is the world’s largest accounting organisation, with a presence in more than 180 countries.
2. You develop strong accounting and soft skills to help you work in various industries.
3. CIMA professionals are taught to take on multiple roles in the finance industry as well as hold leadership positions.
4. The CIMA certification leads to higher remuneration when you apply for jobs or get promoted.
5. The syllabus has a good mix of strategic and practical topics that enable students to master financial management.

CIMA vs CMA USA: syllabus

Let’s Compare The Exam Pattern Of US CMA & CIMA

• CMA US: The course has two exams, one for each Part. Each exam includes:
  • 100 multiple-choice questions (MCQs).
  • Two essay-style questions with business scenarios.
  • Total duration: 3 hours for MCQs + 1 hour for essays (if MCQ score is above 50%).

Also Read – Understand The US CMA Exam Pattern [+What’s Changed In 2024]

• CIMA: Exams occur at the end of each level:
  • Certificate Level: Four subject-based exams (2 hours each, objective-type).
  • Operational, Management, and Strategic Levels: Three objective-type exams + one case-study exam per level.

Also Read – How Much Time Does It Take to Crack the CIMA Exam?

Eligibility Criteria Of Both The Courses

• CMA US:
  • Students can start preparing after 12th grade.
  • Certification is awarded after graduation and fulfilling a two-year work experience requirement in management accounting or financial management.
  • Working professionals can also apply to enhance their careers.
• CIMA:
  • Open to undergraduates, graduates, postgraduates, and professionals with degrees from certified universities.
  • Requires proficiency in English and strong math skills.

Also Read – Management Accounting Skills required for New-age Professionals

CIMA vs CMA USA: A Detailed Comparison

Detailed Career Opportunities for CIMA vs CMA USA

Job Opportunities After CIMA

• Job Roles: Financial Controller, Strategy Manager, Project Manager, Risk Analyst, CFO.
• Industries: Consulting, Manufacturing, FMCG, Banking, and Retail.

Job Opportunities After CMA USA

• Job Roles: Financial Analyst, Management Accountant, Cost Accountant, Risk Manager, Internal Auditor.
• Industries: IT, Healthcare, Financial Services, E-commerce, and Energy.

A Quick Comparison Of Careers In Both The Courses

Challenges in Pursuing CIMA vs US CMA

Challenges in CIMA

• Time-Intensive Course:
  With 16 exams spread over multiple levels, CIMA can feel like running a marathon.
  Tip: Break your study into manageable chunks and tackle one level at a time.
• High Cost:
  With fees ranging from ₹2-5 lakhs, CIMA is an investment.
  Tip: Research scholarships or employer sponsorships.
• Case-Study Exams:
  Practical application is key, and these exams require a clear understanding of business scenarios.
  Tip: Practice mock case studies regularly.

Challenges in US CMA

• Intense Focus on Analytics:
  The course dives deep into strategic decision-making and analytics, which can be daunting.
  Tip: Use analytics tools like Power BI to familiarize yourself.
• Two-Part Exam:
  While there are fewer exams than CIMA, the CMA USA exams require thorough preparation.
  Tip: Enroll with a reputed coaching institute like Proschool.
• Balancing Work and Study:
  Professionals juggling jobs may find it tough to dedicate time to study.
  Tip: Create a realistic schedule and stick to it.

Want To Get A Hands-On Before Selecting The Best Course For You?

4 Common Myths About CIMA and CMA USA

Myth 1: CIMA is Only for Strategy Roles

• Reality: While CIMA does focus on strategy, it also equips you with financial and operational skills applicable in various roles like financial analysis and risk management.

Myth 2: US CMA is Easier Than CIMA

• Reality: CMA USA has fewer exams, but they are highly focused and require in-depth preparation, especially in analytics and management accounting.

Myth 3: CIMA is Only Recognized in the UK

• Reality: CIMA has a global presence and is highly valued in over 180 countries, including India and the Middle East.

Myth 4: US CMA is Not as Prestigious as CIMA

• Reality: CMA USA is one of the most sought-after certifications in management accounting, especially in the US and among multinational corporations.

Who Should Choose US CMA vs CIMA?

Choosing between CIMA and CMA USA is like picking between biryani and pizza. Both are great, but your choice depends on your taste—or in this case, your career aspirations.

Choose CIMA if

• You aspire to work in business strategy and leadership roles.
  Example: If crafting corporate strategy or leading teams is your dream, CIMA is your match.
• You want to work in the UK, Europe, or commonwealth countries.
  CIMA has a strong presence in these regions, making it ideal if you plan to relocate or work in global companies based here.
• You prefer a broader syllabus covering business operations and financial management.
  Think of CIMA as the all-rounder—it gives you insights into everything from project management to risk analysis.

Choose US CMA if

• You aim for a career in financial planning and strategic decision-making.
  Example: If you love crunching numbers and creating strategies to improve profitability, CMA USA has you covered.
• You are targeting roles in the US, Canada, or MNCs in India.
  With its American roots, CMA USA is a favorite among companies in these regions.
• You prefer a shorter course with fewer exams but a strong focus on management accounting.
  If you want to complete your certification without spending years in study, CMA USA’s two-part structure is a clear winner.

Why Proschool is best for learning the US CMA course

If you are hoping to pass the CMA US exams on your first attempt, Proschool is the perfect coaching institute for you. Here, you get a holistic learning experience as you are taught important concepts, accounting knowledge, soft skills, and more. The professors are industry professionals who break down complex topics in the syllabus and use real-world case studies to help students grasp the material. Proschool has prep courses for CIMA and US CMA, so if you want to be a global management accountant, this is the place to get your training.

Benefits of learning with Proschool

• 16+ coaching centres across India & online classes.
• Customised study plans, doubt-clearing sessions, and revision classes.
• Additional resources: 4,000+ MCQ questions and 90 essays.
• Free foundation course for non-financial background students.
• Placement program with access to hundreds of job openings.
• Soft skills training like professional interview etiquette and resume writing.

FAQs

Is the CMA and CIMA the same program?

No, the Certified Management Accountant (CMA) is a US-based program by the Institute of Management Accountants (IMA). The Chartered Institute of Management Accountants (CIMA) is a UK-based certification.

CIMA or CMA, USA—which is the better certification?

Both certifications are widely respected in the industry. The choice depends on your aptitude and career goals.

Is the CIMA on par with the CMA US in terms of career growth?

In the UK and commonwealth countries, CIMA is more recognized. In the US, Canada, and China, CMA US holds more weight. In India, both are equally valued.

Who earns more, CIMA or CMA?

Salaries depend on factors like company, location, and experience. Both certifications offer high earning potential in India.

Can I do CIMA after CMA?

Yes, you can enroll in the CIMA course after completing the CMA US, though it’s not mandatory.

Conclusion

CIMA or CMA USA — which is better? Hopefully, this guide has given you clarity on the certification that aligns best with your career aspirations. To start your professional journey, reach out to Proschool today and discover which course is right for you.