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How to become a CMA?

Lend your expertise: what does it take to become a CMA?

Note: Given the growing interest in the accounting field, we're inviting our experienced professionals to share their knowledge.

business finance accounting career-advice management-accounting certified-management-accountant
Thank you comment icon I agree with the answers above. However, why a CMA? This qualification will focus your career on management accounting which is a wonderful career in itself - however you might find it a bit more flexible and give you more opportunities to go for the CPA and then decide whether you want to work externally (ie in public accounting) or internally since you can do both with a CPA qualification. Both CMA and CPA qualifications are equally challenging to achieve and are both well-respected. Good luck - glad to see you are considering an accounting qualification. I have been in the business 36 years and I still love it Amanda Spafford
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Carlos’s Answer

I believe that obtaining a Certified Management Accountant (CMA) certification is highly beneficial, particularly for those aiming for a career in managerial accounting. In my experience, graduating from a new university with a small class size meant that adding a CMA certification significantly enhanced my job prospects at a Big 4 firm — and indeed, it helped me secure a position.

However, it's important to note that the advantages of the CMA certification may become more apparent later in your career. Initially, you might not notice a significant impact, but as you advance and seek higher-level positions, the CMA can be a crucial differentiator.
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Travis’s Answer

Hello! Just a few years back, I was exactly where you are now, contemplating whether to pursue my CMA. After much consideration, I chose to go for a CPA instead, primarily because I was uncertain about my specific interests within the field of accounting. It seemed to me that the majority of companies I was interested in preferred CPAs. I kick-started my career at a regional public accounting firm, initially working in tax, but transitioned to Audit after a year. Later, I joined Deloitte's Audit practice. This journey has allowed me to serve a diverse array of clients, spanning various industries and sizes. Now, if I ever decide to switch roles and transition into an industry role, I can leverage the invaluable experience I've amassed in public accounting as a CPA. I have no regrets about my decision, but it's crucial for you to introspect and determine what you truly desire. If you're certain that a management accounting role is your calling, the CMA could potentially be more beneficial. However, if you're unsure about your career path and might explore different roles, a CPA could have a more significant impact.
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Valeriia’s Answer

Agreed on the above callouts about the CPA. However, if you are interested in CMA specifically, you would need to the following:
1. Education Requirement: Bachelor’s Degree. You can be in the process of earning your degree when you take the CMA exam, but you must complete the degree within 7 years of passing the exam. In lieu of a degree, certain professional certifications may also be accepted. Y
2. IMA membership: You need to become a member of the Institute of Management Accountants before you can register for the CMA exam,
3. Experience Requirement; At least two (2) years of professional experience in management accounting or financial management. This experience can be completed before or within 7 years after passing the exam. Relevant positions might include roles in financial analysis, budget preparation, management accounting, auditing, risk evaluation, and more.
4. Pass the exam. The CMA exam is divided into two parts: (1) Financial Planning, Performance, and Analytics, (2) Strategic Financial Management. Providers like Gleim, Wiley, and Becker offer tailored CMA review programs that many candidates find beneficial.
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Dimitar’s Answer

Hi, I am personally a CGMA and I would definitely recommend you this type of qualification, as it is really extensive and practically oriented. It would give you witha robust knowledge and skills at the Finance and business areas. https://myfuture.cimaglobal.com/starting-a-career-in-management-accounting/

However, I would firtly consider making several years of experience (perhaps in parallel with studying), as it is a mandatory proof before getting certified to sustain certain skills and competences and how did you apply them into practice.

Take care and happy to stay further in touch via linkedin in case you might have any other help on this.
Thank you,
Dimi
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Luis’s Answer

Hello! All answers above are valid and I agree with them. I have colleagues and friends who have both a CMA and CPA license, and they've all shared that having both hasn't really helped them advance in their career, but they are both in public accounting where I don't believe the CMA as much as "weight" as having a CPA license.

I personally have my CPA license, which has opened up a number of opportunities for me. I've been able to move up with the company I work with. A CPA license is well-respected and, I'd say, more widely known to the public.

I wish you the best of luck with your studies! You can do it! Just takes a bit of sacrifice, but it's well worth it and it's one of my greatest career achievements :)
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Nick’s Answer

I love this question! I have passed both CMA exams and am awaiting to receive my certification with the appropriate years of experience on my resume. The first step to receiving your CMA would be to talk to people at the Institute of Management Accountants to learn more if this certification is for you. If you do believe this is a good route for you, show up to clubs or events that are hosted by the IMA! That is the best start to learning if the route is for you.

After that, I would recommend studying accounting very closely. I took the CMA exams while I was still in college. I took the exams right after I took my cost accounting class so all of the material would be fresh in my memory. Even after I finished the class, I retained all of my notes and exams to continue practicing the questions. It helped that I am interested in the subject, but I can tell you that it was a lot of work!

Becoming a CMA can be a really rewarding and fulfilling experience. Once you passed both exams, received the educational requirements, attained the relevant work experience, and maintain your continuing education, you can become a full-fledged CMA. I thought it was the right path for me in addition to my CPA; take the time to look and see if it's the right path for you as well!
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Damion’s Answer

To become a CMA is similar to becoming a CPA. You will need x amount of credits, pass multiple exams, and work under a CMA for x amount of hours before you can get your credential.
Here is the link for more information:
https://www.imanet.org/ima-certifications/cma-certification
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