CMA USA after CMA India Career Scope Explained

Individuals who have successfully completed the Indian CMA program can seamlessly apply for membership in the CMA USA according to the Memorandum of Understanding between ICMAI and IMA. Meeting the requirements for the Indian CMA automatically grants you eligibility for CMA USA membership. The CPE hour requirements, subscription fees, and other requirements must all be followed separately, though. Similar to this, if you are a member of CMA USA, you can apply to join CMA India. In such a case, you must also adhere to the ICMAI-imposed rules and regulations.

Despite both being accounting courses, Certified Management Accounting (US CMA) and Cost and Management Accounting Course (CMA) are nevertheless quite distinct from one another. In contrast, the Cost and Management Accounting (CMA India) course gives students the knowledge they need to manage revenue and costs effectively in order to maximize profits. Certified Management Accounting, On the other hand, allows students to develop strategic financial management abilities. Let's analyze the differences between these well-known certificates to determine whether or not completing CMA US after CMA India is even necessary.

The Institute of Management Accountants (IMA), USA, offers Certified Management Accountants (CMA US) as the highest level of management accounting qualification (CMA). The CMA USA certification is respected across the world and is perfect for financial professionals who hold positions of responsibility in the company's financial management.

The Institute of Management Accounts administers CMA regulations in the USA. It provides a forum for research, education, information exchange, and the promotion of ethics and the most effective corporate practices in management accounting and finances.

Students in the Cost and Management Accounting (CMA) India certificate program are prepared for employment in a variety of corporate management and accounting jobs. The CMA India certification is provided by the Institute of Cost Accountants of India (ICAI) to professionals and students who successfully complete their three-tier exam.

The Institute of Cost Accountants of India (ICWA), on the other hand, is in charge of CMA India and aims to promote, control, and advance cost accounting knowledge.

Can I Do CMA USA After CMA India?

Next, we will discuss all the prerequisites that we need to consider to pursue CMA USA after CMA India.

The two most crucial requirements for Indian students to qualify for the US CMA are a class 12 certificate and an undergraduate degree. A minimum of 360 out of a possible 500 points must be scored by the applicant in each of the sections. After successfully obtaining the CMA USA certificate, undergraduates will have an additional seven years to present the required paperwork, per IMA policy.

For CMA India, a class 12th certificate and six months of articleship are sufficient to apply for the CMA. However, for individual papers, you must receive a minimum of 40%, and for intermediate groups, you must receive an overall average of 50%.

The duration of the course, the format of the exams, and the syllabus are other differences between CMA USA and CMA India. The CMA USA program may be finished in 6 to 9 months; however, it takes three years to complete CMA India. CMA USA will allow you 4 hours to complete 100 MCQ questions and 30 minutes to write two essays. Its syllabus is divided into 12 different topics that are related to sections of the course.

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CMA USA Syllabus

In CMA India, there are 20 subjects and three levels. They are listed below.

CMA India Syllabus

Another crucial element to consider while selecting a course is the program costs. Each exam segment of the US CMA exam has an admission fee and a registration cost. As of May 2021, the cost of US CMA certification is around USD 1,000, which covers all expenditures. This excludes the expense of a study review course.

Refer to this table for a better understanding of CMA USA exam fees.

The CMA India certification exam costs around 53,000 INR for all three sections, plus extra expenditures. The Indian CMA course costs roughly INR 6000 for the foundation test, INR 22,000 for the intermediate exam, and INR 25,000 for the final examinations, for a total cost of around 1.5 lakhs and a course completion length of around 2 to 3 years. However, it may differ significantly based on the number of sections of the exam you take and your location. The fees will eventually add up with no discounts if you pursue the CMA US after CMA India.

Be it CMA USA or CMA India, both provide a variety of options for students and existing accounting professionals looking to advance their careers in India. Along with the public sector, the government, banking and finance, education, and research industries, as well as development organizations, services, and the services industry, all have a requirement for qualified CMAs. You will have significant career progress, a positive social and professional reputation, and a high salary as you pursue a career in CMA. Accenture, ITC, Vedanta, Philips, Deloitte, KPMG, and GST Suvidha are a few of the top employers for the Certified Management Accounting (US CMA) and Cost and Management Accounting Course (CMA) programs, respectively. If you are pursuing CMA USA after CMA India, you will not get a huge difference in job prospects after that.

Remember, the CMA USA is preferred and sought internationally, whereas CMA India will be beneficial in India.

Some of the job profiles in US CMA and CMA India are as follows

Whether you get your CMA in the US or India, the certification will help you advance your career and differentiate yourself from the crowd.

Big 4s with CMA USA

The salary of US CMA and CMA India experts is influenced by several variables. The average income of a professional depends on a number of criteria, including the job description, the employer, doing CMA USA after CMA India, and the location. 

When it comes to location, the US CMA has a broader reach than CMA India since it is accepted internationally. However, because the US board offers this course, numerous US-based MNCs and other firms choose to recruit these people. A newly certified CMA US salary in India with no prior experience can be between four lakh and 5 lakh rupees per year. However, if you have prior business experience and a strong academic background, you may earn up to Rs.6 lakh per year as a fresher.

In India, the average income for a CMA USA is 6.5 lakhs per year (54.2k per month). Estimated salaries are based on 45 salaries from various CMAs across sectors. In India, the starting salary for a CMA India is around 0.4 lakh rupees (3.3 thousand rupees) annually. The average annual compensation for an Entry Level CMA USA with less than three years of experience is 8.7 lakhs. The average annual salary for a mid-career CMA USA with 4 to 9 years of experience is 21.8 lakhs, while the average annual salary for an experienced CMA USA with 10 to 20 years of experience is 5.3 lakhs.

If you have acquired the CMA USA after CMA India, your salary will considerably increase both in India and overseas.

Analysis

As you can see, the subjects covered in the examinations are rather similar. The CMA India certification has more exams, and it takes longer to become qualified. The benefits of the CMA India certification are centered on IND AS (Indian GAAP) and understanding of Indian Corporate Law, making them more suitable for applicants who are Indian citizens or who work for Indian businesses. The CMA US certification benefits include global recognition, and certification takes only six months to a year. If you intend to work outside of India or for a multinational corporation, the CMA US is unquestionably the best option.

So, after this detailed review, students can comprehend that pursuing CMA USA after CMA India is not required.

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You are much more aware now and understand that earning both certifications, CMA USA after CMA India, is not essential. You also have a better understanding of which career to pursue now that we have extensively researched the CMA India vs CMA USA. Now is the time to systematize your preparation and learn from experienced mentors, which is where NorthStar Academy comes in. A place where each individual is assisted and encouraged toward achieving success at every level.

Enrolling in classes at NorthStar Academy (NSA) can make the certification procedure much easier to handle. They provide package savings and thorough instruction, making it a reasonably priced experience. The CMA USA course study materials of NSA are created in partnership with Gleim and they contain the right precise information to support learning, as well as live sessions and recorded lessons from renowned mentor Mr M Irfat.

If you have any additional queries regarding our courses, please contact us here. +918147470707