#CMA Vs CA Salary

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Salary Difference Between CA and CMA

The financial and accounting profession is a vast field, offering various prestigious qualifications like Chartered Accountant (CA) and Certified Management Accountant (CMA). Both qualifications are highly respected and offer numerous career opportunities. However, when it comes to choosing between the two, one crucial factor that often influences the decision is the salary. This article will delve into the salary difference between CA and CMA, with a special focus on the keyword "CMA vs CA".

Understanding CA and CMA

What is a Chartered Accountant (CA)?

A Chartered Accountant (CA) is a professional who specializes in accounting, auditing, taxation, and financial assessment for individuals and businesses. In many countries, the CA designation is a highly respected qualification that signifies a high level of expertise in the field of accounting.

What is a Certified Management Accountant (CMA)?

A Certified Management Accountant (CMA) is a professional credential that signifies expertise in financial management and strategic management. CMAs focus more on financial analysis, business strategy, and cost management, which are crucial for making informed business decisions.

CMA vs CA: Salary Comparison

When comparing CMA vs CA in terms of salary, several factors come into play, including geographical location, industry, years of experience, and additional skills.

Entry-Level Salaries

CA Salary

For entry-level CAs, the salary typically ranges from $50,000 to $70,000 per year. This can vary depending on the country and specific industry. In regions like North America and Europe, the starting salaries might be higher compared to developing countries.

CMA Salary

Entry-level CMAs can expect to earn between $55,000 to $75,000 annually. Similar to CAs, the exact figure can fluctuate based on the location and the specific sector in which they are employed.

Mid-Level Career Salaries

CA Salary Growth

As CAs gain experience, their salaries can see significant growth. Mid-level CAs, with around 5-10 years of experience, can earn between $80,000 and $120,000 per year. This is particularly true for those who take on managerial roles or specialize in high-demand areas like forensic accounting or international taxation.

CMA Salary Growth

CMAs with a similar level of experience can earn slightly higher, ranging from $85,000 to $130,000 per year. The emphasis on strategic management and financial analysis often leads to opportunities in upper management, which can result in higher pay.

Senior-Level Salaries

CA Salary at Senior Levels

Senior CAs, such as those in executive positions like Chief Financial Officer (CFO) or Financial Controller, can command salaries upwards of $150,000 to $250,000 per year. The earning potential increases significantly with added responsibilities and the strategic importance of their role.

CMA Salary at Senior Levels

For senior-level CMAs, the salary range can be quite lucrative, often between $160,000 and $300,000 per year. CMAs in senior roles typically have a significant impact on business strategy and performance, which is well-compensated.

Industry Influence on Salaries

CA Salary by Industry

CAs often find opportunities in diverse sectors such as public accounting, corporate finance, and government agencies. Industries like banking, insurance, and consulting tend to offer higher salaries.

CMA Salary by Industry

CMAs are in high demand in industries that value financial strategy and cost management, such as manufacturing, healthcare, and technology. These sectors often offer competitive salaries to attract skilled CMAs who can drive business performance.

Geographical Impact on Salaries

CA Salaries Globally

In developed countries like the USA, UK, Canada, and Australia, CAs tend to earn more compared to their counterparts in developing nations. For instance, a CA in the USA can earn significantly more than a CA in India or South Africa due to differences in the cost of living and economic conditions.

CMA Salaries Globally

Similarly, CMAs in developed countries usually have higher salaries. For example, a CMA in Germany or Japan might earn a higher salary compared to a CMA in a country with a lower cost of living.

CMA vs CA: Which Pays More?

In the debate of CMA vs CA, it's clear that both qualifications can lead to high-paying careers. However, CMAs often have a slight edge in salary potential, especially in roles that emphasize strategic decision-making and financial management.

What is the average salary of a CA compared to a CMA?

On average, CMAs tend to earn slightly more than CAs, particularly at mid to senior levels. Entry-level salaries are comparable, but CMAs in strategic roles often command higher pay.

Which qualification, CA or CMA, is more in demand?

Both qualifications are in high demand, but the preference can vary by industry. CMAs are often preferred in roles that require strategic financial management, while CAs are highly sought after for their expertise in auditing and taxation.

Do CAs and CMAs have different career growth prospects?

Yes, while both have excellent growth prospects, CAs often progress in roles related to auditing and financial reporting, whereas CMAs advance in positions that involve strategic management and business planning.

Can a CA also become a CMA?

Yes, a CA can pursue a CMA designation to enhance their career prospects, especially if they aim to take on roles that require strong management accounting and strategic planning skills.

Which is more challenging, CA or CMA?

Both qualifications are challenging and require a significant amount of study and dedication. The CA qualification has a broader focus on accounting and auditing, while the CMA is more specialized in management accounting and financial strategy.

In conclusion, when considering CMA vs CA in terms of salary, both qualifications offer lucrative opportunities. The choice between the two should be based on your career aspirations, interests, and the specific industry you wish to work in.

[audreyracher]

CA vs CMA: Which is Better to Pursue for a Successful Career?

Choosing between Chartered Accountancy (CA) and Certified Management Accountant (CMA) can be challenging, as both qualifications offer unique advantages and career opportunities. CA focuses on comprehensive financial accounting, auditing, and taxation, making it ideal for those interested in public accounting, auditing firms, and compliance roles. On the other hand, CMA emphasizes financial management, cost control, and strategic decision-making, making it perfect for individuals aiming for management and leadership roles in corporate finance. While CA is more recognized in India, CMA has global recognition and is highly valued in multinational corporations. Deciding between CA and CMA depends on your career goals, areas of interest, and the type of roles you want to pursue.

[iproledgeacademy]

CMA USA vs. CMA India: Which Certification is Better for Your Global Career? 

CMA USA vs. CMA India: Which Certification is Better for Your Global Career? 

If you’re an aspiring accountant or financial professional, choosing between CMA USA and CMA India can be a tough decision. Both certifications offer distinct benefits, but understanding which one aligns better with your global career goals is crucial. In this detailed comparison, we’ll break down the key differences between CMA USA and CMA India in terms of global recognition, syllabus, career opportunities, and cost to help you make an informed choice. 

What is CMA USA? 

The Certified Management Accountant (CMA USA) is a globally recognized certification awarded by the Institute of Management Accountants (IMA). The course focuses on management accounting, financial management, and strategic decision-making. With its emphasis on international financial practices, CMA USA is widely accepted across the globe, particularly in regions like the United States, Middle East, Canada, and Europe. 

What is CMA India? 

The Certified Management Accountant (CMA India) is offered by the Institute of Cost Accountants of India (ICAI). It is recognized within India and focuses on cost management, costing techniques, and financial strategy relevant to Indian business environments. CMA India is tailored to Indian laws and regulations, making it a popular choice for those aiming to work in India’s corporate and public sectors. 

Key Differences Between CMA USA and CMA India 

Criteria 

CMA USA 

CMA India 

Global Recognition 

Recognized globally, especially in the USA, Europe, Middle East 

Primarily recognized within India and neighboring regions 

Duration 

6-9 months 

2-3 years 

Syllabus Focus 

Management accounting, financial planning, decision analysis 

Cost accounting, financial strategy, Indian law 

Exam Structure 

Two parts, multiple-choice and essay questions 

Three levels (Foundation, Intermediate, Final) 

Average Salary 

Higher global salary, especially in multinational companies 

Competitive salary in India, primarily in local firms 

Cost 

Around $2,500 - $3,000 for the full course 

Approximately ₹50,000 - ₹60,000 

Global Recognition 

One of the most significant factors to consider is global recognition. 

CMA USA: This certification is widely recognized across the USA, Europe, the Middle East, and other international markets. If you aim to work for multinational corporations (MNCs), or in countries like the United States, Canada, or Australia, then CMA USA holds an advantage. It’s often preferred by global employers because of its focus on international standards of financial management. 

CMA India: While CMA India is highly regarded within India, its recognition outside the country is limited. If you plan to work in Indian companies, government bodies, or public sector organizations, then CMA India might be a better fit. However, for opportunities in global firms, CMA USA has wider acceptance. 

Syllabus and Exam Structure 

Understanding the syllabus and exam structure of both certifications is vital to determine which aligns with your career interests. 

CMA USA: 

The CMA USA syllabus is divided into two parts: 

Part 1: Financial Planning, Performance, and Analytics (Cost management, budgeting, internal controls) 

Part 2: Strategic Financial Management (Risk management, corporate finance, decision analysis) 

Each part consists of 100 multiple-choice questions and two essay questions. The focus is on global accounting practices, strategic management, and financial decision-making, which makes CMA USA more suited for international roles (iProledge Academy   ). 

CMA India: 

The CMA India syllabus covers three levels: 

Foundation: Basic accounting and economics. 

Intermediate: Cost accounting, taxation, and law. 

Final: Advanced financial management, corporate laws, and auditing. 

The exam structure is like other Indian professional courses like CA and focuses heavily on costing techniques and Indian financial laws, making it suitable for professionals aiming to work in India’s corporate sector (iProledge Academy  ). 

Career Opportunities and Salary Expectations 

Your earning potential and career opportunities can vary depending on the certification you choose. 

CMA USA: 

CMA USA holders are often employed in multinational corporations (MNCs), investment firms, and consulting companies. The certification is highly regarded for roles in strategic financial management, cost management, and business decision-making. On average, CMA USA professionals earn a higher salary globally, especially in regions like the Middle East, Europe, and the USA. According to IMA’s salary survey, CMA USA holders can earn up to 30-40% more than their non-certified peers in similar roles (iProledge Academy  ). 

CMA India: 

CMA India professionals are primarily employed in Indian firms, government organizations, and public sector undertakings (PSUs). The salary range is competitive, with a focus on cost accounting, taxation, and corporate law. CMA India holders are more likely to pursue accounting roles in Indian companies, although the salary range is generally lower compared to CMA USA professionals working abroad. 

Cost and Duration 

CMA USA: 

The cost of pursuing CMA USA can be higher, ranging from $2,500 to $3,000, depending on whether you choose review courses and materials. The course duration is relatively short, typically 6 to 9 months, and can be completed at your own pace. 

CMA India: 

The cost of CMA India is more affordable, ranging from ₹50,000 to ₹60,000 for the entire course. However, the duration is longer, with most students taking 2 to 3 years to complete all levels. 

Which Certification Should You Choose? 

Your choice between CMA USA and CMA India depends largely on your career aspirations: 

Choose CMA USA if: 

You aim to work for multinational corporations. 

You plan to pursue a career outside India in regions like the USA, Europe, or the Middle East. 

You want to specialize in global management accounting and financial decision-making. 

Choose CMA India if: 

You plan to work in India, especially in sectors like manufacturing, public sector units, or Indian corporates. 

You are focused on cost management and Indian financial laws. 

You are looking for a more affordable and longer-term course. 

Why Choose iProledge Academy for CMA USA or CMA India? 

At iProledge Academy, we offer expert guidance and support for both CMA USA and CMA India aspirants: 

Comprehensive Study Materials: Our tailored materials cover all exam topics in detail, ensuring you’re fully prepared for both the theoretical and practical aspects of the course. 

Experienced Faculty: Learn from top instructors with deep industry knowledge who will guide you through every step of your journey. 

Mock Tests and Feedback: We provide regular mock tests and personalized feedback to ensure continuous improvement in your preparation. 

Flexible Learning Plans: Our programs are designed to cater to both working professionals and full-time students, with flexible learning schedules. 

Conclusion: Your Path to a Global Career Starts Here 

Whether you choose CMA USA for its global recognition or CMA India for its relevance in the Indian market, both certifications offer rewarding career paths. Take the time to evaluate your career goals, location preferences, and the industry you want to work in, and make an informed choice. 

At iProledge Academy, we are committed to helping you succeed in your CMA journey. Enroll today and take the first step toward becoming a globally recognized Certified Management Accountant! 

FAQs 

1. Is CMA USA better than CMA India for working abroad? 

Yes, CMA USA is widely recognized internationally and is ideal for professionals looking to work in multinational companies and global markets. 

2. How long does it take to complete CMA USA vs. CMA India? 

CMA USA typically takes 6-9 months, while CMA India takes 2-3 years to complete all levels. 

3. What is the average salary of a CMA USA professional? 

CMA USA holders can earn up to 30-40% more than their non-certified peers, especially in global markets like the USA and Middle East. 

[blogs0]

Comparing CA and CMA: Salary and Distinctions for Informed Career Choices

Are you a commerce student faced with the challenging decision between pursuing a career in Chartered Accountancy (CA) or Cost and Management Accountancy (CMA)? The choice between these two esteemed professions is a common dilemma for many, and making an informed decision is crucial for a successful career. In this blog, we’ll provide a detailed comparison between CA and CMA, focusing on key points, program introductions, in-depth analysis of differences, salary comparisons, career paths, and ultimately helping you make the right choice.

Comparison Between CA and CMA – Key Points The decision between CA and CMA often comes down to understanding the key differences between the two professions. Let’s delve into the fundamental aspects of both programs.

Introduction to the CA Program The Chartered Accountancy (CA) program is globally recognized and offers a diverse range of career opportunities in finance, accounting, taxation, and auditing. Attaining the CA designation involves a structured process.

Steps to Attain CA Designation: Complete 10+2 education with a minimum of 50% marks. Register and clear the CA Foundation Exam. Register and clear CA Intermediate. Finish CA practical training for three years. Appear and clear CA Final for both groups. Complete the course and obtain the CA certification and membership. CA vs CMA – In-Depth Analysis of Differences Now, let’s conduct a comprehensive analysis of the differences between CA and CMA, considering various aspects. Salary Comparison for CA and CMA in India Criteria CA CMA Initial Salary Rs. 10-12 lakh per annum Rs. 7-8 lakh per annum Job Options Auditing, taxation, accounting, finance, consultancy, etc. Financial analysis, cost accounting, budgeting, planning, etc. Scope/Demand High demand for CA professionals in big four firms, MNCs, the public sector, etc. High demand for CMA professionals in manufacturing, financial services, and the public sector. More Info: https://www.icai.org/post.html?post_id=13752

Career Paths After Completing the CA Program Audit and Assurance:Reviewing and assessing financial statements, ensuring compliance with laws and regulations. Taxation: Working as tax consultants or managers, advising clients on tax compliance and planning. Finance and Accounting: Positions such as financial analyst, financial controller, and CFO, managing financial operations and formulating financial plans. Risk Management: Serving as risk managers or internal auditors, detecting and evaluating risks, ensuring compliance. Investment Banking: Advising clients on financial matters, handling mergers and acquisitions, and raising business financing. Chief Financial Officer: Overseeing a company’s finances, covering financial planning, risk assessment, and financial reporting. Career Paths After Completing the CMA Program Cost Accountant: Assessing and managing the expenses of a company, creating cost accounting systems, and evaluating financial information. Financial Analyst: Evaluating financial data, making investment decisions, and collaborating with management to provide financial strategy recommendations. Management Accountant: Providing financial information for decision-making, setting budgets, and reviewing financial performance. Financial Manager: Handling an organization’s financial operations, creating financial strategies, and advising management on financial matters. Chief Accountant: Responsible for a company’s financial transactions, often hired by government institutions, hospitals, banks, and retail companies. Internal Auditor: Assessing and enhancing the efficacy of an organization’s internal controls, risk management, and governance systems. CA vs CMA: Making the Choice The decision between CA and CMA ultimately depends on individual interests, skills, and professional goals. CA offers a more rigorous course with a focus on accounting and finance, providing global recognition and a wider range of employment prospects. On the other hand, CMA focuses on cost and management accounting, offering specific knowledge in cost management, budgeting, and decision-making. To make the right choice, students should assess their interests, talents, and career objectives.

Commonly Asked Questions About CA vs CMA Q1. Which profession has a better salary among CA, CMA, and CS? A1. A CA fresher earns a starting salary of 6-7 lakhs INR per month, whereas CMA and CS freshers earn between 4-5 lakhs INR. All three are good career opportunities.

Q2. Which course is more difficult: CA or CMA? Q3. Can I do both CA and CMA courses? Q4. What is the passing percentage for CA and CMA exams? Conclusion: In conclusion, choosing between CA and CMA is a significant decision that requires careful consideration of individual preferences and career goals. Both professions offer unique advantages, and the right choice depends on what aligns with your interests and aspirations.

[simandhar--education]

What is the scope of CMA(USA) offered by IMA in India?

What is the scope of CMA(USA) offered by IMA in India? Every year, a large number of Indians look for information on the CMA certification, so we’d like to address their concerns in this essay. Let Simandhar Education walk you through some information concerning the CMA international certification, the application process, and exam recommendations if you’re interested in earning the US CMA in India.  

CMA stands for Certified Management Accountant. The CMA course in the United States is a globally recognized degree that is highly valuable in a market like India, where much offshore is going on. We have a lot of US corporations in India that are investing and recruiting accountants who are familiar with US GAAP and IFRS.    

Structure of the CMA Exam and the Years Required to Earn the Title:   The minimum theoretical time required for the ICWAI and CA (including article ship) courses is two years and four years, respectively, providing that the applicant passes the first time. US CMA course takes 8–9 months to complete, and there are only two exams to pass, as opposed to 17–18 exams in Indian courses.  

CMAs in India earn more than non-CMA certified colleagues, according to the IMA Global Salary Survey of 2020.  

Indian IMA members work a lot harder than other members throughout the world, putting in an average of 45.5 hours each week. This figure is tied with Jordan and is second only to the United States (46.3). Members of the Indian IMA are also well educated. All 52 Indian respondents have earned a bachelor’s degree, and 63 percent have earned a master’s degree.  

Salary of CMAs vs. Non-CMAs in Asia   According to one of the most significant conclusions from the salary study, the CMA substantially impacts compensation in India. CMAs in India earn 136 percent more in total compensation than non-CMAs, and this gap has grown steadily and dramatically over time.  

Additional professional options and routes are among the CMA perks received by IMA members in India. Almost 65 percent of Indian CMAs stated the CMA certification broadened their professional opportunities, and 90 percent said it improved their ability to move across industries.    

Format of the CMA Exam-   The CMA exam is divided into two parts, each with 100 multiple-choice questions and two essay situations. You have four hours to complete each portion of the test. Within the testing periods, which span six of the 12 months each year, you can take the exam on any weekday.  

CMA Exam Parts:  

Part 1: Financial Reporting, Performance, Planning, and Control  

Part 2: Financial Decision Making  

Exam Passing Rates for CMAs:   Part 1 of the CMA test has a success percentage of 40%, whereas Part 2 has a pass rate of 50%.  

Although specific passing numbers for India are unknown, our data indicate that Asian applicants pass at a higher percentage than the average. The Americas and Europe, on the other hand, had the most incredible passing rates. How can you reach the same level of success on the CMA exam? We have a couple of ideas about how to complete the assignment.  

How to Increase Your CMA Exam Passing Chances:   While Indians have a strong knowledge of English, their writing style differs from Americans’, so you should practice writing essays in standard English. Here are some CMA test essay tips that will specifically benefit overseas candidates.  

Choosing the best institute: Simandhar Education believes in instilling knowledge and developing students ready for the corporate sector. The institution offers high-quality instruction in a variety of subjects. Practical knowledge is emphasized. They have an extensive network of world-class trainers, teachers, and industry specialists, and all Simandhar teachers are CPA, CMA, and rank holders. We also give students with guaranteed placement assistance and personal grooming sessions in preparation for interviews.  

Future in CMA- CMA professionals have a bright future ahead of them at many prominent global corporations across the world. In India, the majority of multinational firms are willing to hire CMAs for corporate finance positions.

Some of the opportunities are- Finance Manager: As a Finance Manager, you will be in charge of all operational decisions. You’ll be in the order of forecasting and budgeting as a finance manager, among other things.  

Financial Analysts: The job title “financial analyst” is self-explanatory. This position requires the accurate tracking of financial records, the compilation of reports, and the analysis of results. Based on the research and information, a financial analyst must offer measures to improve the company’s productivity.  

Finance Controller: This role, in some ways, incorporates all facets of finance. You must know everything there is to know about finance and serve as the department’s financial lifeline.

Chief Financial Officer: The position of Chief Financial Officer, or CFO, is the highest in the financial business. Because qualified management accountants have such a significant impact on the company, it’s one of the most appealing jobs.

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CA vs US CPA | US CPA Course Eligibility Fees Salary | Simandhar Education | AICPA NIES

Simandhar Education will help you ace the CPA, CMA, EA, CIA, and IFRS certifications. For any further information regarding the courses, you can feel free to reach out to our expert counselors at 𝟕𝟕𝟖𝟎𝟐𝟕𝟑𝟑𝟖𝟖. Drop your Details: https://bit.ly/3wf2fD4 Chartered Accountant Course Vs Certified Public Accountant If you are confused between CPA and CA, this video will clear all your doubts. You will also learn about US CPA exam eligibility criteria, why US CPA is important to advance our career in finance, job opportunities after cracking the CPA exam and many more such questions. Simandhar Education, the Official partner of Becker professional education and Channel partner of AICPA. Know Everything about US CPA Course Eligibility Fees Duration Salary. 𝐀𝐛𝐨𝐮𝐭 𝐒𝐢𝐦𝐚𝐧𝐝𝐡𝐚𝐫 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧

https://www.youtube.com/channel/UCNtcsDN1WhnsdS_m2wY-Z-g

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US CMA course or MBA – Which course is better after B.com in year 2021?

USA CMA

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.

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.

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Money related bookkeeping is the way toward chronicle, outlining and revealing the bunch of exchanges coming about because of business activities over some undefined time frame. These exchanges are condensed in the arrangement of budget reports, including the monetary record, salary proclamation and income explanation, that record the organization's working execution over a predetermined period.

Separating Financial Accounting

Monetary bookkeeping uses a progression of set up bookkeeping standards. The determination of bookkeeping standards to use over the span of money related bookkeeping relies upon the administrative and detailing prerequisites the business faces. For U.S. open organizations, organizations are required to perform budgetary bookkeeping as per sound accounting standards (GAAP). Worldwide open organizations additionally much of the time report budget reports in agreement to International Financial Reporting Standards. The foundation of these bookkeeping standards is to give reliable data to speculators, banks, controllers and assessment experts.

Gathering Method versus Money Method

Money related bookkeeping might be performed utilizing either the gathering technique, money strategy or a blend of the two. Gathering bookkeeping involves recording exchanges when the exchanges have happened and the income is conspicuous. Money bookkeeping involves recording exchanges just upon the trading of money. Income is just recorded upon the receipt of installment, and costs are just recorded upon the installment of the commitment.

Money related Accounting Reporting

Money related announcing happens using budget summaries. The budget summaries present the five primary characterizations of money related information: incomes, costs, resources, liabilities and value. Incomes and costs are represented and wrote about the pay proclamation. Monetary bookkeeping results in the assurance of total compensation at the base of the salary articulation. Resources, liabilities and value accounts are accounted for on the monetary record. The monetary record uses money related bookkeeping to report responsibility for organization's future financial advantages.

Monetary Accounting Vs. Administrative Accounting

The key contrast among budgetary and administrative bookkeeping is that money related bookkeeping goes for giving data to parties outside the association, though administrative bookkeeping data is gone for helping chiefs inside the association decide. Fiscal summary arrangement utilizing bookkeeping standards is most applicable to administrative associations and monetary establishments. Since there are various bookkeeping decides that don't make an interpretation of well into business task the board, diverse bookkeeping tenets and systems are used by inner administration for interior business investigation.

Bookkeeping Certifications

The most well-known bookkeeping assignment showing a capacity to perform money related bookkeeping inside the United States is the Certified Public Accountant (CPA) permit. Outside of the United States, holders of the Chartered Accountant (CA) permit to exhibit the capacity too. The Certified Management Accountant (CMA) assignment is progressively expressive of a capacity to perform interior administration capacities than money-related bookkeeping.

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What is the scope of CMA(USA) offered by IMA in India?

What is the scope of CMA(USA) offered by IMA in India? Every year, a large number of Indians look for information on the CMA certification, so we’d like to address their concerns in this essay. Let Simandhar Education walk you through some information concerning the CMA international certification, the application process, and exam recommendations if you’re interested in earning the US CMA in India.  

CMA stands for Certified Management Accountant. The CMA course in the United States is a globally recognized degree that is highly valuable in a market like India, where much offshore is going on. We have a lot of US corporations in India that are investing and recruiting accountants who are familiar with US GAAP and IFRS.    

Structure of the CMA Exam and the Years Required to Earn the Title:   The minimum theoretical time required for the ICWAI and CA (including article ship) courses is two years and four years, respectively, providing that the applicant passes the first time. US CMA course takes 8–9 months to complete, and there are only two exams to pass, as opposed to 17–18 exams in Indian courses.  

CMAs in India earn more than non-CMA certified colleagues, according to the IMA Global Salary Survey of 2020.  

Indian IMA members work a lot harder than other members throughout the world, putting in an average of 45.5 hours each week. This figure is tied with Jordan and is second only to the United States (46.3). Members of the Indian IMA are also well educated. All 52 Indian respondents have earned a bachelor’s degree, and 63 percent have earned a master’s degree.  

Salary of CMAs vs. Non-CMAs in Asia   According to one of the most significant conclusions from the salary study, the CMA substantially impacts compensation in India. CMAs in India earn 136 percent more in total compensation than non-CMAs, and this gap has grown steadily and dramatically over time.  

Additional professional options and routes are among the CMA perks received by IMA members in India. Almost 65 percent of Indian CMAs stated the CMA certification broadened their professional opportunities, and 90 percent said it improved their ability to move across industries.    

Format of the CMA Exam-   The CMA exam is divided into two parts, each with 100 multiple-choice questions and two essay situations. You have four hours to complete each portion of the test. Within the testing periods, which span six of the 12 months each year, you can take the exam on any weekday.  

CMA Exam Parts:  

Part 1: Financial Reporting, Performance, Planning, and Control  

Part 2: Financial Decision Making  

Exam Passing Rates for CMAs:   Part 1 of the CMA test has a success percentage of 40%, whereas Part 2 has a pass rate of 50%.  

Although specific passing numbers for India are unknown, our data indicate that Asian applicants pass at a higher percentage than the average. The Americas and Europe, on the other hand, had the most incredible passing rates. How can you reach the same level of success on the CMA exam? We have a couple of ideas about how to complete the assignment.  

How to Increase Your CMA Exam Passing Chances:   While Indians have a strong knowledge of English, their writing style differs from Americans’, so you should practice writing essays in standard English. Here are some CMA test essay tips that will specifically benefit overseas candidates.  

Choosing the best institute: Simandhar Education believes in instilling knowledge and developing students ready for the corporate sector. The institution offers high-quality instruction in a variety of subjects. Practical knowledge is emphasized. They have an extensive network of world-class trainers, teachers, and industry specialists, and all Simandhar teachers are CPA, CMA, and rank holders. We also give students with guaranteed placement assistance and personal grooming sessions in preparation for interviews.  

Future in CMA- CMA professionals have a bright future ahead of them at many prominent global corporations across the world. In India, the majority of multinational firms are willing to hire CMAs for corporate finance positions.

Some of the opportunities are- Finance Manager: As a Finance Manager, you will be in charge of all operational decisions. You’ll be in the order of forecasting and budgeting as a finance manager, among other things.  

Financial Analysts: The job title “financial analyst” is self-explanatory. This position requires the accurate tracking of financial records, the compilation of reports, and the analysis of results. Based on the research and information, a financial analyst must offer measures to improve the company’s productivity.  

Finance Controller: This role, in some ways, incorporates all facets of finance. You must know everything there is to know about finance and serve as the department’s financial lifeline.

Chief Financial Officer: The position of Chief Financial Officer, or CFO, is the highest in the financial business. Because qualified management accountants have such a significant impact on the company, it’s one of the most appealing jobs.

Hope you found this helpful, and surely, you’ll obtain your CMA in India; best of luck on the exam!

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CPA USA vs ACCA UK VS CMA USA VS CFA USA|US CPA | Simandhar Education | CFA |ACCA | CPA USA |CA

Various international courses are discussed and compared here, such as US CPA, US CMA, ACCA, and CFA. CPA vs ACCA CPA stands for Chartered Accountancy in the United States. It has a passing rate of approximately 55-60%. You can finish it in as little as 8 to 9 months. CPA exams are only available in the United States and Dubai. There are tremendous job opportunities present in India as many US-based companies present in India, such as Apple, Facebook, Capgemini, PWC, Deloitte. The overall costing which falls for the CPA is 3.5 to 3.6 lakhs. Simandhar Education will help you ace the CPA, CMA, EA, CIA, and IFRS certifications. For any further information regarding the courses, you can feel free to reach out to our expert counselors at 𝟕𝟕𝟖𝟎𝟐𝟕𝟑𝟑𝟖𝟖. Drop your Details: https://bit.ly/3wf2fD4 Career Games! CPA USA vs ACCA UK VS CMA USA VS CFA USA Confused about which career to choose. Watch this informative video and get complete details..!! - ACCA vs CPA vs CFA vs CMA based on the governing body - ACCA vs CPA vs CFA vs CMA based on Exam format - ACCA vs CPA vs CFA vs CMA based on Fees - ACCA vs CPA vs CFA vs CMA based on time - ACCA vs CPA vs CFA vs CMA based on Work Experience, Salary and Job Opportunities We are the best institute in India for providing USA Accounting  Courses like US CPA & US CMA  with all the assistance and support. A live webinar is also available.

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US CMA vs. US CPA course – Top differences updated in 2021

Almost all finance and accounting students face challenges in choosing their career path. A question arises whether I need to pursue a certification course like US CMA course or US CPA course? Which among them is better? What are the key differences between a US CMA course and US CPA course? Can (or should) I get both? Let’s understand some of the major differences between US CPA and US CMA certifications.

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 as they have an excellent rate of absorption all over the world. Currently, CMA has marked its presence in over 100 countries including the United States (US). The US CMA course is pursued by students who are keen in learning budgeting and management accounting.

On the other hand, CPA stands for Certified Public Accountant and is offered by American Institute of Certified Public Accountants (AICPA). The students have to pass the US CPA exam in India as well as meet the state’s licensing requirements to get the US CPA license. Generally, students who are interested auditing, management accounting, accounts handling, taxation takes this certification course.

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. Earning the US CMA can give you the career boost as they have an excellent rate of absorption in all over the world. Currently, CMA has marked its 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.

The most common differences between US CMA course and US CPA course are explained below.

Eligibility details – US CMA vs. US CPA

When it comes to course eligibility, students must have a bachelor’s degree as basic eligibility. However, Students who are pursuing their bachelors are eligible to take the US CMA exams. Another, key requirement of US CMA course is that students have to meet the CMA work experience requirements. These include –

1. Two years of professional experience in accounting or finance

2. For Fresher’s the experience requirement may be completed within 7 years of passing the examination.

The students pursuing the US CPA course must should have a Bachelor degree in Commerce and Masters with minimum 120 credit points. Further, the students should complete 150 hours of the CPA course semester.

Course details – US CMA course vs. US CPA course

The US CMA course has just 2 parts which can be cleared in 7 to 9 months’ time. On 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.

The two parts of US CMA exam are –

A. Part 1: Financial Planning, Performance, and Analytics

B. Part 2: Strategic Financial Management

In case of US CPA, the course has 4 parts and takes nearly 9-12 months to complete the course with continuous exam window now due to pandemic. The four sections of a US CPA exam include the following.

A. Auditing and Attestation (AUD)

B. Business Environment and Concepts (BEC)

C. Financial Accounting and Reporting (FAR)

D. Regulation (REG)

Duration and exams

To earn your CPA, Candidates appearing for exam is required to score of 75 or more on each section to pass, and each section must be passed within an 18-month window, which begins as soon as the candidate passes the first exam. CPA exam scoring is treated with a high level of importance, due diligence, and attention to accuracy.

On the other hand, a US CMA course candidate gets 3 years for clearing both parts of the US CMA exam and the time starts from the day of the registration.

As per the latest analysis from Uplift Pro, the pass rate of US CMA worldwide to clear both Parts I and Part II is 45% while, the average pass percentage for US CPA exam is nearly 50.

That being said, never get confused on pass percentage. Research has shown that students who gets good training and guidance have high pass rates. Uplift Pro is one such premier institute in India offering live interactive online classes. They have a pass rate of 85% in both US CPA exams and US CMA exams.

Job opportunities

In India a fresh US CPA starts with a minimum monthly salary of 50,000 INR in a Big4 or MNC. The salary of a CPA increases at a higher rate than his non-certified peers. A CFO in India earns within INR 8 Lakhs to 50 Lakhs per month. In Middle East countries a CPA at an entry-level with less than a year experience can expect to earn an average annual salary of AED 85,000 (including perks and other benefits).

In case of US CMA course, a fresh 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.

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.  It was found that the difference in total compensation between CMAs and non-CMAs (including MBA) worldwide is nearly USD 29,000; a strong reason why a US CMA course is a career changing qualification.

US CPA vs. US CMA Course fees

Another key difference in choosing the course lies in the course fees. The US CMA exam has an entrance fee and a registration fee for each exam part. As of May 2021, US CMA certification cost is approximately USD 1,000, which includes all the fees. This doesn’t include the cost of a review course for studying.

The US CPA exam in India fee is generally around USD 1,200 for all four sections. However, that may slightly vary based on number of sections you appear for the exam and also varies state by state.

On an average the US CPA certification cost comes at around USD1, 500, considering the exam fees, application fees, and licensing fee.  Again, this does not include the cost of a review course for studying.

US CPA vs. US CMA – Comparative Table

Choose the best US CPA and 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 and Gleim in India

B. High pass rate of 85 %

C. Live online classes ensuring that the regular office working hours is least impacted

D. 1:1 personal support from our 30 plus years of experienced CMA and CPA certified faculties

E. Affordable course fees

F. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

G. 100 % placement assistance for jobs