In the world of financial accounting, the Certified Management Accountant (CMA) certification is internationally regarded as the gold standard, quite often compared to the CPA or CFP titles. However, the benefits of being a CMA are unique and substantial.
A growing number of accountants choose to pursue the CMA certification each year for varying reasons, from career flexibility to prestige and more. Explore the many CMA benefits to learn how this distinguished credential may fit into your career goals.
The benefits of CMA certification
So, is a CMA worth it? We’ve compiled the top CMA benefits to help you understand the advantages that come with this esteemed career path.
- CMA benefit #1: Professional advancement
- Fast-track to management
- Opportunity to specialize
- Influence with decision-makers
- More earning potential
- CMA benefit #2: Increase financial skills and knowledge
- CMA Exam learning
- CPE learning
- Learning by doing
- CMA benefit #3: International acclaim
- Jurisdiction and job opportunities
- Job security
CMA benefit #1: Professional advancement
Career advancement is a major CMA benefit that you can experience immediately upon earning your certification.
Fast track to management
When applying for a new job or aiming for a promotion within your organization, being a CMA will help your resume stand out among other accountants. Passing the CMA Exam demonstrates your knowledge of financial management processes and your ability to apply these skills to solve business problems. The CMA credential certifies your expertise, showing potential employers and clients that you’re ready to take on new, higher-level responsibilities and job positions.
As a CMA, you will have had to prove your knowledge in areas such as financial strategy, risk management, analytics, and business and team administration. These skills set you up for advancement into leadership roles, managing and mentoring junior-level staff (i.e., those without a CMA certification).
Opportunity to specialize
On the other hand, if you’re anxious to move into a different career area, the benefits of the CMA designation present opportunities to pivot your career into more specialized roles, including cost management, financial consulting, risk mitigation, and more.
Influence with decision-makers
CMAs tend to work closely with top-level executives to provide financial guidance and help inform directive decisions. If you’re invested in helping to guide an organization’s future and long-term well-being, a CMA certification can grant you the chance to take on such responsibilities.
More earning potential
The elevated influence and responsibilities that CMAs carry often translate into higher earning potential. Compared to the relatively low cost of earning a CMA certification, the CMA can prove its return on investment quite quickly.
CMA benefit #2: Increase financial skills and knowledge
Often, accountants who pursue the CMA title are passionate about accounting and finance. If you’re one of these hungry learners, another CMA benefit is the advanced expertise that you’ll gain both in the process of earning your credential and throughout your CMA career.
CMA Exam learning
Studying for and passing the CMA Exam demands a strong grasp of basic and complex management processes. You’ll have to prepare for two exam parts: one covering financial planning, performance, and analytics; the other focusing on strategic financial management.
While the CMA Exam review process may seem taxing, this preparation actually serves as a CMA benefit, ensuring that your expertise is wide and deep in all the skillsets required to work in upper-level roles.
CMA CPE learning
To maintain your credential in good standing, you are required to complete 30 credits annually of continuing professional education for CMAs. This provides you the CMA benefits of:
- Specializing in your career through courses in a certain area
- Constantly gaining new skills
- Staying up-to-date on industry advancements
Learning on the job
As a CMA, you’ll perform tasks beyond the responsibilities of general, non-credentialed accountants. This expansion of your job description leads to another of the many benefits of becoming a CMA: you’ll be pushed to gain a deeper understanding of a company’s financial workings, as you are more involved in the complexities of financial-based decision-making. If you’re interested in learning the behind-the-scenes of cost accounting and extending the span of your career horizons, this is an important CMA benefit for you.
CMA benefit #3: International acclaim
The prestige of having a CMA title isn’t limited to the U.S. border. While becoming a CMA is highly respected inside the US accounting and finance world, the CMA certification is also a global accreditation.
Global jurisdiction
Most accounting certifications require additional processes to be recognized in other countries or even other states within the US. A CMA benefits from being one of the few credentials offering global recognition, without the need for additional expenses and testing. CMAs benefit from their accreditation when searching for job positions both in the United States and abroad.
This CMA benefit also makes it an ideal choice for candidates who have hopes of one day living or working abroad. If your firm has international offices or works with overseas businesses, this may be a good choice for your career path. Passing the two sections of the CMA Exam just once grants you a lifetime of global career opportunities.
High job security
The need for CMAs is growing worldwide, despite a severe lack of certified individuals to fill these job positions.1 By earning your certification, you’ll enjoy the CMA benefit of great job security.
Start enjoying the benefits of a CMA
The benefits of being a CMA are clearly widespread and can lead to a variety of lucrative and fulfilling career opportunities.
Start your journey to becoming a CMA by learning more about the CMA Exam, requirements, career paths, and more in our free CMA ebook.
Learn more about becoming a Certified Management Accountant in our FREE ebook!
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