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EduPristine > Blog > Know how effective is CMAcourse comparedto MBAinproviding a dream job
Knowhoweffective is CMAcourse
comparedtoMBAinprovidinga
dream job
April 21 2017 Written By: EduPristine
There are various industries and sectors outthere where you can grow
and enhance your career. Management,Accounting, Finance,
Engineering, Healthcare, Retail and many more industries are great
verticals to startyour career.Among all the industries, Management and
Accounting roles are most sought after ones in recenttrends.To start
your career in such fields,you should pursue some specific course,
certification or higher education.
In case ifyou are looking for an accounting course then CMAis one of
the best; it improves your accounting as well as management skills and
provides ample career opportunities.
CMAcertification or MBA– which one is suited best foryou?The CMAis a
ManagementAccounting
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2. recognized professional designation,while the MBAis an academic
degree.Though both gettop priority for being most desired career goals
in the accounts field,the CMAis focused on management accounting
while the MBAin Finance covers a much broader scope offinance units.
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3. Accreditation bodies- CMAvs MBA
CMA
 Knowhowtounderstand and
interpret cashflowstatement

4. The CMAis globally recognized, advanced-level credential appropriate
for accountants and financial professionals in business.Achieving the
CMAdemonstrates your professional expertise in financial planning,
analysis, control, decision support, and professional ethics – skills that
are in demand by organizations around the world.
MBA
The MBAdegree originated in the early 20th century when the people
from the industries and companies understood its value and were
seeking a scientific approach to management.The curriculum in an MBA
program covervarious areas of business such as accounting,finance,
marketing, human resources, and operations in a manner most relevant
to management analysis and strategy.
EligibilityCriteria- CMAvs MBA
TobecomeaCMAthereis certaineligibilitycriteria:
Bachelor’s degree from a recognized college or university
Two continuous years of professional experience in management
accounting orfinancial management
Completion of Part 1 and Part 2 ofthe US CMAexam
Membership in IMA
TobecomeMBA,thereis somecertaineligibilitycriteria:

5. The minimum eligibility criterion for admission is at least a 3-year
bachelor’s degree with at least 50 % marks
To get admission in the top MBAcolleges in India,you have to clear
the CAT(Common Admission Test) or equivalenttype of exam
Based on the score you will get in the examination,you will be able to
apply in the college for group discussion and personal interview
After clearing the group discussion and personal interviewyou will
getthe seat in the college
Note:MBAis suchaprogramthatyougetmorevalueifyoucomplete
itfromareputedUniversityorinstitute.
Duration ofthe Program- CMAvs MBA
TobecomeaCMA(CertifiedManagementAccountant),
You can enroll for CMAcourse from an authorized training provider of
CMA.Average time period of completing the CMAcourse is almost
half a year.
You should join the CMAprogram only when you are ready to take
the exam.
Once you enroll in the program and pay the entrance fee,you must
Starttaking the CMAexam within 12 months and complete the CMA
program within 3 years

6. MBAis abroaderconceptas comparedtoCMA.Therearegenerally
differenttypes ofMBAprograms.
The standard MBAprogram takes four semesters offull time
coursework to complete
Parttime MBAprograms takes more than 3 years to complete their
program. Classes are organized either at night or on the weekends
Ifyou wantto be specialized in Finance,then the duration of course
is two years
Syllabus ofthe Program- CMAvs MBA
The CMAcourse syllabus includes Economics, Business Finance,
Situational analysis and decision making with a strong emphasis on
ethics. It is combined with relevant rule-based subject matterto provide
you a sound critical thinking and decision making skill.
BasedontheCMAExam,theCMAsyllabus havebeendividedintotwo
parts
CMAPart 1CMAPart 2
CMASyllabus
External Financial Reporting
Decisions (15%)
Planning, Budgeting
and Forecasting (30%)
Financial StatementAnalysis
(25%)
Corporate Finance (20%)
Decision Analysis (20%)

7. Performance Management
(20%)
Cost Management (20%)
Internal Controls (15%)
Risk Management (10%)
Investment Decisions (15%)
Professional Ethics (10%)
Whether it is Harvard Business School or Stanford University in USAor
IIM in India,the basic concepts of business and major MBAsubjects
covered in MBAclasses do not change. Core subjects of MBAare
covered in the 1styear (in a 2-year MBA). Main topics of MBAin Finance
are discussed in the 2nd year.
MBASyllabus
MBA1styear MBA2nd year
Finance,
Marketing,
Operations Management,
Economics,
Human resource management
Strategy forming
Statistics
Leadership etc.
Financial Management
and Planning
Balance Sheets
Profit and Loss
Cash Flow Management
Capital Structure, Budgeting,
Rationing and Management
Leverage
Dividend Decisions etc.

8. Fees Requiredto Completethe Program- CMAvs
MBA
The CMACertification is offered by the Institute of Management
Accountants (IMA) USAand the content is regularly reviewed by the
Institute of Certified ManagementAccountants (ICMA). CMApart 1 and
part 2 exams are offered during the three testing windows in
January/February,May/June,andSeptember/October.
TobecomeaCMAyouhavetopaythefollowingfees
CMAProgramFees
FeesType Fees (Rupees)
Course Fee 83,350
Exam Fee 40,000
Certification Exam Fee 12,000
IMAMembership 2,500
TotalCost 137,850
There is 20 IIMs all overthe India, and all ofthem accepts CATentrance
exam score. IIM offers various management skills of MBA.We have
mentioned here the course fees structure of IIM where you complete
your program MBAin Finance.
MBAin Finance Course Fees
FeesType Fees
Course Fee 2,114,500
Servicetax 362,175
Refundable Caution 20,000
Total 2,496,675

9. SoyoucanunderstandhowcostlytheManagementdegreeis,as
comparedtoCMA.PursuingMBAfromareputedinstituteis 1700%
morecostlythanCMA.
Job roles and responsibilities- CMAvs MBA
CMAis a globally recognized certification in ManagementAccounting.
With increasing globalization, FDIs, outsourcing, off-shoring, US financial
service MNCs in India and Indian companies listed in the US, CMAs with
an international perspective are in very high demand. Career
opportunities for US CMAs can be in MNCs,financial services or
consulting firms and US-based firms & organizations.
Syllabus of MBAin Finance Job Designation after completing CMA
program are mentioned below.
Cost managers
Relationship managers
Finance managers
Analysts
Directors/Senior Director
HOD
Professors
Vice President

10. MBAin Finance will require you to deeply understand the annual reports
ofthe companies and illustrate the same. Financial jobs can be divided
into those thattake place within a corporate organization or in a financial
institution, such as with an investment bank. Some ofthe job
opportunities that are available foryou atthe entry level are:
Credit Risk ManagementAnalyst
Financial Research Analyst
Financial/Securities/Investments Analyst
Personal FinancialAdviser
Portfolio Manager
Salary
*Globally, CMAs earn 59% more in average salary and 63% more in
average total compensation than their non-CMApeers. Depending upon
various factors like company size,your position in the company,
experience level etc. Average salary of CMAin India is 7 lakhs per annum.
Median Salary by Years Experience –
Certification: Certified Management
Accountant (CMA) (India)
Median Salary by Years Experience
Cost of Living Calculator Salary Calculator

11. * referfrom imanet.org
MBA
After MBAin finance, private as well as government sector are opened
forthem to work.As compared to the public sector,the salary in the
private sector is quite high. Still,the salary the candidates getwillvary
upon the designation as well as size ofthe organization that hires them.
Average Salary of MBAFinance is approximately 6.5 lakhs per annum.
Median Salary by Years Experience –
Degree: Master of Business
Administration (MBA), Finance (India)
Median Salary by Years Experience
Cost of Living Calculator Salary Calculator
ComparisonbetweenCMAandMBA:
CMAvs MBA
Parameters CMA MBA
Authorized
Body
Institute ofManagementAccountants AnyReputed Management
University
Eligibility Bachelor’s degreewith 2 years of
professionalworkexperience
Bachelor’s degreewith
minimum 50% marks
Duration 1 Year~ 3Years 2 Years
Syllabus
Economics
Business Finance
Financial
Management

12. Situational analysis
Decision making
Balance Sheets
Profit and Loss
Cash Flow
Management
Fees 1.5 lakhs ~ 2 Lakhs 10lakhs ~ 25 Lakhs
Job
Responsibility
Cost managers
Relationship managers
Finance managers
Credit Risk Manager
FinancialAnalyst
Portfolio Manager
Salary
(Average)
7 Lakhs perannum 6.5 Lakhs perannum
Although there is numerous Institutes and Universities available to start
your MBAprogram as compare to CMA, but ifyou have a finance or
accounting background in your past,then we will suggestyou to go for
CMAcertification. Itwill advance your career and provide you more
opportunities. CMAcertification can be earned in a significantly shorter
period as compared to MBAand it also far less expensive.
We hope you have made your choice, and ifyou looking for an authorized
CMAcourse provider then you can talk to our CMAcounselors they can
guide you in proper structured CMAcourse training of EduPristine.
Related links –
ComparisonbetweenCMAandMBA
ComparisonbetweenPGCFR andMBA

13. ComparisonofMBAwithCFAandFRM
ComparisonbetweenACCAandMBA
ComparisonofMBAwithPGCFR
ComparisonbetweenCFAandMBA

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