US CMA vs Indian CMA - Eligibility, Syllabus, Cost, Career and Salaries

As the finance world continues to expand, professionals are increasingly seeking specialized qualifications to stay ahead. The US CMA (Certified Management Accountant) qualification, awarded by the Institute of Management Accountants (IMA), serves as a professional credential in the areas associated with management accounting and financial management. However, the Indian CMA stands for Cost and Management Accountant. It is a professional course affiliated with the Institute of Cost Accountants of India.

CMA is designed for finance professionals in India who wish to specialise in cost management and strategic financial planning. To become certified, candidates must clear the CMA examination, which consists of 3 parts (Foundation, Intermediate, and Final.)

CMA Eligibility Criteria

The eligibility criteria for US CMA and Indian CMA must be fulfilled, along with other registration and examination requirements set by the relevant governing body. Now, let's take a look at the difference in eligibility between both the certifications.

US CMA Eligibility

• Hold a bachelor’s degree from an accredited college or university or an equivalent professional certification.

• Have two continuous years of professional experience in management accounting or financial management. This can be completed either before or within seven years after passing the exams.

• Enroll as a member of the IMA.

Indian CMA Eligibility

CMA Foundation Course Eligibility

• Candidates must have passed a recognised board or institution's class 10 or equivalent exam in order to gain admission to the CMA Foundation.

• A candidate is eligible to appear for the exam if he/she has passed the Senior Secondary Examination under the 10+2 scheme from a recognised board.

CMA Intermediate Course Eligibility

• The candidate must have passed the Senior Secondary School Examination (10+2) and CMA Foundation Course of the Institute of Cost Accountants of India

OR

• The candidate should be a graduate in any discipline other than Fine Arts/ Foundation (Entry Level) Part I Examination of CAT of the Institute/ Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute.

OR

• Passed Foundation of ICSI/Intermediate of ICAI along with Class 10+2

CMA Final Course Eligibility

• The candidate should have passed the CMA Intermediate examination.

• The candidate must have a current registration number

• The candidate should have completed the CMA Final course's required training.

• The candidate should not be disqualified from taking the CMA Final Course Exam.

CMA Direct Admission

• The candidate must have a bachelor's degree in any discipline other than fine Arts.

• The candidate must have qualified CAT/ICSI Foundation/ ICAI Intermediate.

CMA Syllabus

The US CMA exam syllabus focuses on strategic financial management, performance analysis, risk management, and ethics. Whereas the Indian CMA exam syllabus covers a wide range of topics, including accounting, taxation, corporate laws, and cost management across different levels. Candidates must be familiar with the syllabus of CMA before taking the exam.

US CMA Exam Syllabus

Indian CMA Exam Syllabus

CMA Course Cost for US vs India

The course cost difference between the US CMA vs Indian CMA is primarily due to variations in exam fees, registration charges, and membership costs in each country.

US CMA Course Fees

• IMA Membership Fee: Approximately INR 15,000 per year.

• Entrance Fee: Around INR 18,000 (one-time).

• Exam Fees: Approximately INR 35,000 per part, totaling INR 70,000 for both parts

Indian CMA Course Fees

CMA Course: Career and Salaries

Students are placed through both campus and off-campus opportunities, gaining the skills to pursue accounting roles as well as consulting and management positions.

CMA Job Roles

Students can explore and take up multiple roles in a company post-course completion:

US CMA Job Roles

• Management Accountant

• Financial Controller

• Tax Manager

• Risk Manager

• Cost Accountant

Indian CMA Job Roles

• Internal Auditor

• Cost Accountant

• Finance Manager

• Assistant Finance Manager

• Chief Financial Officer

CMA Salary Expectation

With experience, the salary of the candidate will eventually increase. The table below mentions the average salaries offered to candidates holding a CMA designation:

CMA Salary in USA

CMA Salary in India

Source: AmbitionBox

CMA Course Difficulty

The course difficulty between Indian CMA vs US CMA varies due to differences in the pass rates, exam structure, and focus areas. The following points are discussed below:

US CMA

Exam Format and Structure: Combines 100 multiple-choice questions with two essay questions per part, challenging candidates to demonstrate not only their knowledge but also their analytical and application skills.

Preparation Time: Requires about 150-170 hours of study per part, indicating the significant effort needed to cover the material comprehensively.

US CMA Pass Rate: Moderate pass rates reflect the exam’s challenging nature but also suggest that success is attainable with focused preparation.

Indian CMA

Exam Format and Structure: Includes a combination of descriptive and objective questions, covering a wide range of subjects. The exam structure demands thorough preparation and a deep understanding of the curriculum.

Preparation Time: Candidates often require a longer preparation period, sometimes extending over years, particularly when balancing studies with employment.

Indian CMA Pass Rates: Similar to the US CMA, moderate pass rates indicate a challenging certification process, achievable with diligent study and preparation.