#1 US CMA vs.CA – Which one to pursue-2021- Uplift Pro


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Uploaded on Nov 7, 2021

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The article give insights on top differences between US CMA and CA - Syllabus, Course cost, Course Duration, Exams and Job Opportunities . For more details -https://www.upliftprofessionals.in/us-cma-course

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#1 US CMA vs.CA – Which one to pursue-2021- Uplift Pro

#1 US CMA VS.CA – WHICH ONE TO PURSUE?| 2021| UPLIFT PRO Offered by Uplift Pro- Leader in US CMA course training https://www.upliftprofessionals.in SCOPE AND BENEFITS- ALL ABOUT US CMA COURSE ● With time, many of us are now familiar with the US CMA course and certification process. It is quite evident that US CMA is considered as a gold standard in management accounting and financial planning as it involve highest standard of professional skill and ethics. ● US CMA certification is offered by IMA and is a global credential, a good value addition to one’s resume having immense career growth potential. Knowing all the above fact and gaining information about the exam procedures, preparation, cost etc.,the vital question still exists. ● US CMA or CA ?The most pertinent question comes to the mind of a student or working professional in accounting and finance domain is which professional course they should opt for to upgrade their career with better job opportunity and better income. COMPARISON BETWEEN US CMA AND CA A. THE SYLLABUS ● The CA course has an elaborate syllabus at 3 tiers of the course towards certification. The CA Foundation has 4 topics, CA IPCC has 7 topics and CA Final has 8 subjects to clear. ● In contrast, US CMA course is a,2 part exam consist of Financial Planning, Performance and Analysis for Part 1 while Strategic Financial Management in Part 2. Hence, having less number of chapters and a two part exam, US CMA appears to be easier and less complicated than the CA course. B. STAGES OF CERTIFICATION US CMA course stands easier than CA because the chapters are easy to apprehend. Furthermore, US CMA is a single level certification process having a 2 part exam while the CA course is a multilevel process having Foundation, Intermediate, Final and Internship respectively. C. COURSE DURATION US CMA can be cleared in 6 month to 1 year with dedicated preparation in an average. On the same scale, one has to spend 5 years in average to complete the CA course.. D. EXAM PATTERN Here also, US CMA has an edge over CA based on the fact that US CMA has only 2 groups and most of the questions are based on multiple choice having options to tick only not available in such manner in CA exams. E. EXAM OPTION In this area, US CMA has advantage over CA because US CMA exams are conducted online through the prometric centers across the globe. Moreover, the candidate has the option to select the date/slot and place of the exam from 3 available exam windows annually, such flexibility is not available for CA exams F. ENTRY LEVEL Here, the CA course has the advantage over CMA US, because, one can start studying CA after completion of 10+2 academic qualification. On the otherhand, to be eligible for US CMA, a graduation is required with 120 credit points. G. PASS RATE As per July’2021 data, pass rate of CA final for both the groups stands from 1.57% to 11.97% for old and new courses respectively. On the contrary, pass rate for US CMA stands much higher in comparison having 36.25% to 50.5% for Part 1 and Part 2 exams respectively. It shows that CA exam is difficult to pass than US CMA E. JOB OPPORTUNITIES Both CAs and US CMAs have good job opportunities in private and public sectors with comparable salaries. Being an internationally recognized credential, US CMAs has better acceptability abroad than Indian CAs. US CMA SALARY IN FORTUNE COMPANIES The earning power of the US CMA course is consistent across regions, with the median salary and total compensation higher for CMAs vs. non-CMAs for every region. In the Americas region, US CMAs earn a median salary and total compensation that is 31% and 32%, respectively, higher than non-CMAs. This is also consistent with prior years. In the Asia and Europe regions, US CMAs earn a median salary that is 29% and 32% higher, respectively, compared to non-CMAs. More specifically, the following job titles were more likely to be filled by CMAs than non-CMAs: CFO (67%), controller (59%), director of financial planning and analysis (63%), and senior financial analyst (66%). US CMA SALARY FOR THE FINANCIAL ANALYSTS If you join as a Cost or Financial Analyst and you have passed the CMA examination, you are eligible to get an average salary of Rs. 6 to 8 lakhs every year as a fresher within India. Some of the departments in which you can earn amazing packages include Financial Modelling, Risk Control, SAP SAP Financial Accounting and Controlling, Valuation. As you move to senior positions in these sectors and earn domain experience, your pay scale, as a CMA professional, increases manifold and you can earn around 50 lakhs per annum.. In Middle east countries, European countries or in the US, a US CMA professional learns twice or thrice as much as their peers in India. The US CMA course is a worthy investment that not only increases earnings but provides opportunities for advancement. SUMMARY In summary, upon comparison of the two courses, it is apparent that, CA is a much tougher course and takes more time to complete than US CMA. CA is a regional professional qualification while US CMA is a global professional certification. CAs are authorized to practice independently but US CMA can not. As domains are different, CA deals with chartered accounting and CMA with cost accounting, one has to choose the appropriate course as per his/her work profile and preferences. CMA LEAST AFFECTED BY COVID-19 ● The latest Global Salary Survey 2021, on the impact of COVID-19 showed that CMAs were less impacted in their jobs than compared to non-CMAs. Further, 43% of respondents said that their salary was not impacted by the COVID pandemic, while 3% indicated their compensation increased. ● It was noted that 30% of respondents indicated that their salary decreased due to the pandemic, while 19% received a lower or no bonus due to the pandemic. ● The industries which got affected by the pandemic were wholesale and retail trade (68.6%), followed by construction (63.6%), public accounting (57.2%), and education (55.1%). ● The industries with the lowest percentage of respondents indicating a negative impact include government (11.1%), agriculture (22.6%), and medical/health services (39.4% UPLIFT PRO Uplift Pro is one of the top training institutes for the US CPA, US CMA, 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 back to young ambitious students and professionals to reach their desired career destinations in an organized way. Some of the exclusive features include.  Authorized partner of IMA US CMA course in India   Live online classes ensuring that the regular office working hours is least impacted  1:1 personal support from our 30 plus years of experienced US CMA certified faculties  "Till you pass" guarantee assuring that you may attend our live online classes at no extra cost until you pass   Affordable US CMA course fees with special discount in your IMA fees.   Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session,  IMA registration and job assistance. Get in Touch With Us Location - Kolkata, India Email -  [email protected] Phone- +91-9455103282 / +91-878788850 Website - https://www.upliftprofessionals US CMA page - https://www.upliftprofessionals.in/us-cma-course