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Unlock Career Success with CMA in USA 2024: Key Details

Updated on 04 March, 2024

CMA in USA 2024: Key Details

If you wish to take your career in finance and accounting to the next level, completing a CMA in the USA can be a game-changer. CMA, or the Certified Management Accountant, is a globally accepted management accounting accreditation recognized in 150+ countries. Awarded by the Institute of Management Accountants (IMA), CMA helps candidates achieve career growth. Let’s explore eligibility, syllabus, and other details for CMA in the USA. 

Key Highlights 

Exam Name Certified Management Accountants
CMA Exam Structure

Part 1:Financial Planning, Performance, and Analytics

(100 MCQ and two 30-minute essays) 

Part 2: Strategic Financial Management

(100 MCQ and two 30-minute essays)

CMA Course Duration CMA courses and exams need to be completed within three years of registration
CMA USA Exam Dates 2024

January/February 2024

  • Exams conducted from 1st January to 29th February
  • Deadline to register for the exam: 15th February

May/June 2024

  • Exams conducted from 1st May to 30th June
  • Deadline to register for an exam: 15th June

September/October 2024

  • Exams conducted from 1st September to 31st October
  • Deadline to register for an exam: 15th October
CMA Exam Mode In-person, at any of the Prometric test centers available
CMA Exam Duration

Part 1: Four hours

Part 2: Four hours 

CMA Course Fees

For Student/Academic Members:

  • CMA Entrance Fee (nonrefundable) - $225
  • Exam Fee - $370 per part
  • IMA Membership Fee: $49/$160

For Professional Members:

  • CMA Entrance Fee (nonrefundable) - $300
  • Exam Fee - $495 per part
  • IMA Membership Fee: $295 

Fee for Retaking the exam: 

  • Professionals: $460 per part 
  • Students/Academic members: $345 per part
CMA Salaries Highest Median Salary: $137,137 

CMA Course Eligibility in USA

The eligibility requirements for obtaining CMA in the USA include the following:

  • You need an active IMA membership to participate in the course.
  • A bachelor's degree in the relevant academic field is a must. 
  • You must have paid a CMA entrance fee. This is only valid for three years from the date of payment. Therefore, you must get a pass grade for both parts within this period. If you fail to do so, you need to pay the fee again.
  • A minimum of two years of work experience after completing a bachelor's degree is required. However, the work experience must be related to accounting or financial management. 

CMA USA Course Fees

CMA Fees Breakdown

Fee in USD 

For Professionals

For Students/Academic Members

Membership fee

$295

$49/$160

Entrance fee

$300

$225

Exam registration fee per part

$495

$370

Re-registration fee for the exam per part (in case of failure) 

$460

$345

Source: IMA Official Website 

How to Apply for CMA in USA

You can earn a CMA certification by following the given steps:

Step 1: Get enrolled in the CMA program 

To get started with CMA certification, you should register with the IMA as a member by paying the membership fee and enrolling in the CMA program. 

Step 2: Prepare for the CMA exams 

You will have to study accounting and finance concepts thoroughly and complete the requisite coursework to crack both parts of the CMA exam. 

Step3: Register for CMA Exams

After paying the required fees, you will be able to register for the CMA exam. You need to take exams within three years of registration. You can attempt part 1 and part 2 any number of times during this time.

Step 4: Complete necessary work experience and educational qualifications

Once you have completed and secured pass marks in each part, you must prove your educational qualification and two years of work experience. You can provide this proof within seven of clearing the exams. 

How to Prepare for CMA

CMA is a rigorous examination and helps you achieve the requisite expertise and skills to progress in your accounting career. If you are wondering how to ace the exam, here are a few preparation tips to help you:

  • Find the best study method after carefully reviewing the CMA syllabus. Several study methods exist, such as live instructions, virtual classrooms, or self-learning. Different students have excelled using various modes of study.
  • Choose a reliable course provider. You can refer to various exam prep courses by IMA-approved providers. These can help you cover various concepts, define an exam strategy, and practice past questions.
  • Register for the exam in a timely manner. Since the exams need to be completed within three years of registration, it is imperative that you streamline your preparation strategy accordingly and register for the exams well in advance.
  • Prepare in a productive environment. It is important to remain focused during your CMA preparation. Thus, you should study in an environment that is devoid of distractions. 
  • Maintain your physical and mental health. During your preparation, it is crucial to take care of your physical health by following a healthy diet. Moreover, you should take regular breaks or spend time with loved ones to stay mentally healthy.

CMA Syllabus

CMA Syllabus

Section

Topics

Weightage of Topic

Part 1: Financial Planning, Performance, and Analytics External Financial Reporting Decisions 15%
Cost Management 15%
Internal Controls 15%
Technology and Analytics 15%
Planning, Budgeting, and  Forecasting 20%
Performance Management 20%
Part 2: Strategic Financial Management Decision Analysis 25%
Financial Statement Analysis 20%
Corporate Finance 20%
Professional Ethics 15%
Risk Management 10%
Investment Decisions 10%

Career Opportunities in USA After CMA

A CMA certification can provide a significant boost to your career. Most CMA-certified professionals report 21% higher salaries than their non-CMA peers, as per IMA’s Global Salary Survey Report 2023. Here are some of the popular, lucrative jobs after CMA certification with their respective salaries: 

Job Profile

Salaries

Chief Financial Officer

$1,00,000–$3,00,000

Financial Manager

$84,000–$1,00,000

Financial Controller

$1,00,000–$2,00,000

Financial Risk Manager

$93,000–$2,00,000

Management Accountant

$86,000–$1,00,000

Source: Glassdoor(as of February 2024)

Conclusion

CMA in the USA can be an excellent certification opportunity to grow your career. It has been proven to help with career growth in all aspects, especially when it comes to salary hikes. CMA certification can be the ultimate choice if you are wondering how to move forward with your finance career. 

Disclaimer: All salaries and course fees mentioned above are subject to change

Discover More USA Related Reads:

FAQs

What is the pass rate for the CMA in the USA exam?

The pass rate for the CMA exams differs from one region to another. On average, the pass rate is usually around 50% on both part 1 and part 2 exams globally. 

Can I take the CMA exam in the USA remotely?

No, currently, the exam can not be taken remotely. You need to be present in person at the nearest Prometric center to attend the exam. 

Do I need to take CMA part 1 and 2 exams in any specific order?

No, you can take the exam in any order of preference. However, you must pass both parts within three years to complete the certification. 

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Urvi Agrawal

Urvi has 3 years of experience as a content writer and marketer. Over years, she has established herself as a study-abroad expert and is adept at crafting compelling and engaging content for students. Self-driven and passionate professional, she likes writing poetry and has authored a poetry book ‘Thoughts of a Wallflower’.

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