Certified Management Accountant is a highly sought after certification for many career-minded individuals looking for advancement in the worlds of finance, business and accounting. It’s an excellent addition to any finance or accounting related resume, and many employers will favorably consider applicants who list it as a part of their education.
Usually pursued in conjunction with a college degree, there are career benefits to CMA certification that aren’t obtained with a standard degree. To better illustrate this point, here are four benefits to your career that can be obtained with CMA certification.
Higher Earnings
Obtaining CMA certification on top of a degree will inevitably mean more time and money being spent before entering the workforce. This is an opportunity cost that some individuals won’t want to pursue or may not be able to pursue, depending on their circumstances. However, the benefits are vast to spending this extra time and money becoming certified, especially in the long run.
Based on data gathered by a yearly census, professionals with CMA certification earned a little over 60% more than their non-certified peers globally. This means that you will make back the money you spend on CMA certification and then some, the longer you work.
Easier Advancement
When comparing individuals who obtained CMA certification with those who pursued alternate paths, the result is that CMA’s achieve higher positions in companies. Individuals who jump into their careers with a college degree and no further certifications, or individuals who pursue the more popular CPA certification, will often find themselves in lower level starting positions, as they will lack the experience or knowledge to reach the management level. Training for management-level certification with a CMA, on the other hand, will result in an easier time gaining positions in upper management.
Many CMA certified individuals find themselves working as financial analysts, controllers, and even CFOs over the course of their careers. This is the case even if they start their careers in similar positions to CPA or non-certified individuals. The latter group will find that they have a tougher time breaking into these higher positions in companies, since they will need to spend more time learning and proving themselves. With CMA certification, the proof of management aptitude is self-evident.
International Appeal
For individuals pursuing careers in finance or accounting, a college degree is certainly an important step on the way to a high-paying position. However, when looking for jobs in other countries, education in your country of origin may not carry the same weight. International employers will often compare education from many different countries, meaning you may find that a degree in America doesn’t have as much appeal when applying for work in Europe or Asia. On the other hand, CMA certification is recognized globally.
The standards are the same regardless of country, meaning employers expect the same level of aptitude from Certified Management Accountants in any country. Furthermore, CMA certification is highly sought after in developing countries such as the Middle East and China.
Career Versatility
As you may have noticed from the points listed above, another benefit to obtaining CMA certification is a greater amount of opportunities for careers. If you are pursuing education and are still not sure what specific career you want to pursue, CMA certification is terrific to obtain because the possible career choices are vast and varied. Individuals with CMA certification can work in public or corporate accounting, and can fill positions as analysts, planners, auditors, managers, and accountants.
The specific fields they can work in are also numerous, including manufacturing, healthcare, government work, construction, insurance, and real estate, among many others. If you want a lot of options because you still haven’t quite figured out what field you wish to work in, CMA certification is a spectacular option for you!
CMA Coach has helped more than 19,000 CMA candidates successfully prepare for their exam. It also provides tips and hacks to help professionals start their career faster and with the best advice. Check out the website at http://www.cmacoach.com/.
