What is the starting salary for a cooler CMA?

Updated on : January 17, 2022 by Marshall James



What is the starting salary for a cooler CMA?

Hello Loknath,

Salary for Qualified CMA (India) Fresher -

In a company / organization -

Minimum wage - Rs. 20,000 to 35,000 per month **.

In a CMA company -

Minimum salary of Rs. 15,000 to 20,000 per month **.

Salary for Qualified CMA (US) Fresher -

Minimum wage - Rs. 35,000 to 50,000 per month **.

** Maximum salary will vary from company / company to company based on job profile, number of attempts, performance during group discussion and / or interview, and other factors.

I wish you the best!

Good luck! :-)

The salary package can range from 4lpa to 9lpa. Your CTC is totally dependent on your knowledge of the subject, as well as how you do in the interview. If you are placed through institute placement, your average salary would average 6lpa.

The average pack from a CMA, USA qualified cooler graduate would be 4.5LPA. The range would start from a low of 4LPA to a high of 6LPA.

It depends on several factors, some of them are, your interview, type and level of the company, your qualifications, etc. As I know it ranges from Rs 360000 pa - Rs 720000 pa But it is just an approximation, it can vary.

Utsav Raichura's answer to What is the average salary for a CMA in India?

Please read the previous answer!

CMA expanded as a Certified Management Accountant is one of the most sought after accounting designations, especially in India. That fact alone makes the process for obtaining this designation extremely competitive. But as is the case with most efforts; It can be achieved with the right guidance and hard work.

The journey to obtain a CMA designation consists of 3 steps. CMA Foundation, intermediate and final. If a person has a university degree, they can start at the intermediate level, if not, from the foundation. A person can show up to the CMA 18 months before graduation, but it would be scam

Keep reading

CMA expanded as a Certified Management Accountant is one of the most sought after accounting designations, especially in India. That fact alone makes the process for obtaining this designation extremely competitive. But as is the case with most efforts; It can be achieved with the right guidance and hard work.

The journey to obtain a CMA designation consists of 3 steps. CMA Foundation, intermediate and final. If a person has a university degree, they can start at the intermediate level, if not, from the foundation. A person can apply for CMA 18 months prior to graduation, but would be considered a provisional rather than a regular student.

There are 4 parts / subjects in the CMA foundation, 8 in the intermediate CMA and 8 in the final CMA. One has to go step by step from these 3 stages, but in those stages one is free to take the parts of the exams in any order that he wants.

The subjects in each of the stages are detailed below:

The CMA foundation consists of:

-Fundamentals of Economics and Management.

-Fundamentals of Accounting

-Foundations of Laws and Ethics

-Foundations of mathematics and business statistics

This is the initial stage and is relatively easier.

CMA Intermediate consists of:

-Financial Accounting

-Laws, ethics and governance

-Company accounts and Audit

-Direct taxes

-Indirect taxes

-Cost accounting and financial management

-Operations management and information system

-Cost accounting and management

The final of the CMA consists of:

-Corporate laws and compliance

-Tax management and practice

-Corporate financial reports

-Audit costs and management

-Financial analysis and business evaluation

-Advanced financial management

-Business strategy and strategic cost management

-Strategic performance management

The CMA exam can be done in 6 months out of 12 months. Each exam is divided into 2 parts and each one of them has a duration of 3 hours.

The first part generally consists of 100 MCQ type questions that have 75% or weight-age and the second part requires you to write essays that contain 25% of the remaining weight-age.

So in short, if you decide to follow this designation, then it must be long-term and you must give your 200% with hard work and unshakable consistency.

I am manager of a couple of FB Group for CMA students for the last 4 years. The collective membership of these groups exceeds 35,000. I read many hopeful CMA posts. Some are fun, some are refreshing, and some make me sad. Asking a lot of innocent or misinformed questions. Many veterans were frustrated with his repeated attempts. Some working professionals try to reconcile work, personal life and studies.

I reproduce here what I wrote as a generic summary for all hopeful CMAs.

Many of the students just end up looking for CMA ... not knowing enough about the profession, basic competency

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I am manager of a couple of FB Group for CMA students for the last 4 years. The collective membership of these groups exceeds 35,000. I read many hopeful CMA posts. Some are fun, some are refreshing, and some make me sad. Asking a lot of innocent or misinformed questions. Many veterans were frustrated with his repeated attempts. Some working professionals try to reconcile work, personal life and studies.

I reproduce here what I wrote as a generic summary for all hopeful CMAs.

Many of the students just end up taking CMA ... not knowing enough about the profession, the required core competencies, and the demands of the course. Many come as a proxy to become a CA (since it does not have a mandatory article submission). There is hardly any professional advice available here. Many CMA practitioners barely earn enough to call themselves successful, but they have to keep talking loudly about their achievements and limitless reach. Chapters are just a group of disinterested staff. No personalized questions, no holding hands, no meaningful guidance. It is the TAKE IT or LEAVE IT attitude. Institute has a vested interest in inflating records. While roughly 500-1000 qualify in a year, Approximately 6L registered students represent 90-95% of the Institute's revenue year after year. No one is telling the harsh reality.

There is no doubt that CMA is a GOLD standard course. There is no doubt that passing is difficult. There is no doubt that the industry has many successful CMAs in high positions. GST will undoubtedly open up more opportunities for tax professionals. All of that is correct. But, only AFTER qualifying.

First of all, the main difference with CA is that the CMA profession is the interface between Operation n Finance. It was actually created especially to bring engineers into this profession (20 years AFTER the CA Institute was created in India). It is that industry interface that most CAs are ill-equipped to understand. It's about manufacturing, supply chain, optimization, what-if analysis, cost competitiveness, decision-making, systems thinking. It is not a simple accounting, no audits. There are no set rules. Each situation can be new and a challenge of its own kind. You should look at the books on OR (Operations Research) to understand some real life situations that you will face as a senior boss. Then, if you feel that the NUMERIC challenges within the course content have no benefit or use ... then you should probably meet first with some CMAs who are working for 5-10 years. Get to know really sharp and successful CMAs. And not the emaciated ones, who managed to pass after repeated attempts. This course is NOT bookkeeping or an MBA. This is CMA.

Second, I don't think anyone WITHOUT an above average NUMERICAL ability will ever pass the CMA or be a good CMA (or even a CA). This is why most continue to bang their heads against the walls every six months. If you pass out despite bad math, you will never be a good cost accountant and will likely give the profession a bearish market image. So if you're not good at math, you should probably take stock soon.

Most students treat CMA as one more "course" in the hope of good job prospects. But, in general, professional courses are not theory. It is NOT about visualization or intellectualization of the subject. You cannot understand most of the things taught in the course without a hands-on presentation. That is why CA is always better than CMA. Their course expects you to go through a 3-year practical rigor. Even if it was merely clerical. But they see the practical world. We don't. So most of us fail to pass out.

Our Institute may not be great. But that's what we have and it's not going to change. Finding fault with the Institute is not going to get us anywhere. They make the rules. They set the curriculum. They place the papers and review the papers. The only option you have is to pay the toll and cross the bridge or take another road. First I crossed the bridge, then I tried to wake up the perpetrators (Institute n Corps). I realized that no one here cares about the problems of the students. They are busy in related party trx, lobbying for committee membership or otherwise touring at the Institute's expense in the name of advancing our profession, some photo shoots, or taking former Committee members to Court. They just don't care about us. I sent letters I did presentations, I volunteered, I raised RTI. But then I gave up. My suggestion is ...

In my estimation, passing any group on the first try requires around 1000 hours of study in addition to basic understanding of the subject, proficiency in math + accounts ... and good memory. Hands-on exposure, good numerical aptitude, and logical aptitude can make it easier (600-800 Hrs) but there is no easy route here. Multiply this commitment 4 times as an estimate of effort for the entire course. And yet, the pass on the first attempt is not guaranteed. But, if any of the basic prerequisites and preparation to sweat are missing ... then this course is not for you!

If you don't pass on the first try, your best chance is until the third. Smart kids choose their lessons on the first try and rearrange their preparation. After the third try, your confidence, motivation wanes. By then, you tried everything you know. If you don't know what you did wrong before, how can you correct it next time? If you haven't figured out whether or not you've got it in you by then, you'll keep trying with no further success. Hope is not enough.

CMA is not a test of your intellect or your knowledge of the subject. But the criteria for passing are difficult, the syllabus is broad, and the expectations are microscale. Guys who pass CMA aren't necessarily smarter than you. But, they got the entry pass ... and you want one.

Working executives may have a lot of hands-on experience, but passing our exam is a different ball game. You have to study for long hours and memorize lots of details at the micro level. Paper verifiers have barely worked in the industry so they can't really measure your specific work experience. They only look for key phrases from the answers suggested by the Institute on their answer sheet. It is an unfortunate situation, but it is so. If your employer does not give you at least ONE full month of study leave, then you must choose between the job and the exam. And, once you have a family ... very few of us can take this risk. But, like I said. Hope is not enough. And there is no easy route.

So once you join CMA, stop complaining. Either you do it or you don't. In fact, the smartest guys would stop after the first few failures. If you think this route was rigorous and ruthless, then you are right. But that will not change the fact that it is so. There are many ways to be successful. Don't imagine that you are married to the CMA option. If this isn't for you, get out quick. You will succeed ... if you want to. Whether you qualify as a CMA or not!

Best wishes!!

Certified Management Accountant (CMA) means spending a lot of time, effort, and money. Your aunts and neighbors may never have heard of CMA, but in the world of corporate accounting, CMA is a highly respected designation.

The CMA is an advanced professional certification specifically designed to measure critical financial and accounting management skills. This is especially relevant for success in a business environment.

CIMA is the largest in this niche, but the vast majority of members are located in the UK and, to a lesser extent, in Europe and Commonwealth countries.

The US CMA number is

Keep reading

Certified Management Accountant (CMA) means spending a lot of time, effort, and money. Your aunts and neighbors may never have heard of CMA, but in the world of corporate accounting, CMA is a highly respected designation.

The CMA is an advanced professional certification specifically designed to measure critical financial and accounting management skills. This is especially relevant for success in a business environment.

CIMA is the largest in this niche, but the vast majority of members are located in the UK and, to a lesser extent, in Europe and Commonwealth countries.

The number of US CMAs is less, but the certification is now the most popular management accounting certification not only in the US but also in the fastest developing regions, namely China and the Middle. East. As you can see from the chart taken from the August 2014 issue of Strategic Finance, nearly half of the new CMA candidates came from the Middle East (United Arab Emirates, Egypt, Saudi Arabia, and Jordan), and nearly a quarter from Pacific Asia. (China and India).

According to a comprehensive IMA study, CMA certification holders earn 67% more than their non-certified counterparts.

Various industry magazines have indicated that 80% of accountants end up in non-public accounting. Management accounting knowledge and skills are indeed most useful to these professionals. Additionally, many dual CPA and CMA holders find the materials covered by the CMA more interesting and practical in their daily work.

Unlike the CPA exam, in which getting the score is sometimes more difficult than passing the exam itself, the IMA (the CMA exam administrator) keeps things clear, simple, and organized for applicants. The IMA openly welcomes international candidates with the exam offered in hundreds of locations around the world.

Don't get me wrong: getting the CMA is not easier because there is a low barrier to entry. Candidates must still have a bachelor's degree, pass a rigorous exam, and earn 2 continuous years of management accounting experience to become certified.

However, the IMA makes the process of becoming a CMA as simple as possible. Candidates can focus on passing the exam and completing the experience rather than getting bogged down with bureaucracy and conflicting rules from different state boards, such as those involved in the CPA certification process.

Hi Parag,

The Institute of Cost Accountants of India is a statutory body under an act of Parliament that has a CMA Professional Course (ICWA) in 3 stages (Foundation, Intermediate and Final). After completing the final exam, the candidate can opt for a job in a company or start practicing as a cost accountant (after completing the relevant 3-year training). Below is the scope of the CMA (ICWA) course in various fields as mentioned in:

Work in a company / Academic field (Private sector / PSU) -

  1. Cost accounting and management
  2. Financial management
  3. Financial / Business Analyst, Systems Analysis and Systems Man
Keep reading

Hi Parag,

The Institute of Cost Accountants of India is a statutory body under an act of Parliament that has a CMA Professional Course (ICWA) in 3 stages (Foundation, Intermediate and Final). After completing the final exam, the candidate can opt for a job in a company or start practicing as a cost accountant (after completing the relevant 3-year training). Below is the scope of the CMA (ICWA) course in various fields as mentioned in:

Work in a company / Academic field (Private sector / PSU) -

  1. Cost accounting and management
  2. Financial management
  3. Financial / business analyst, systems analysis and systems management
  4. Audit, Internal Control
  5. Tax Management (Direct and Indirect Taxes)
  6. Capital Market Analyst, Fund Manager, Portfolio Analyst
  7. ERP implementation
  8. Process analysis in BPO houses
  9. Implementation of business intelligence systems
  10. Academic opportunities
  11. Speakers / Professors of Accounting and Finance
  12. Opportunities to do a PhD.

Own practice as CMA -

  1. Cost auditor, advice on maintaining cost records
  2. Regular audit and special audit under GST
  3. Certification under the policy of GST, Customs and ExIM
  4. Advice on Direct and Indirect Taxes
  5. Consulting Tax - Project Manager
  6. Surveyor and Loss Assessor
  7. Recovery Consultant in the Banking Sector
  8. Business valuation financial services advisor
  9. Trustee executor, administrator, arbitrator, trustee, appraiser, appraiser
  10. Assignments of the Central and State Government, Court of Justice, Labor Courts or any other statutory body, regulatory body, etc. Such as RBI, SEBI, Ministry of Finance, Ministry of Fertilizers and others
  11. Management consulting services by CMA
  12. Taxation, Internal Audits
  13. Insolvency professional according to IBC 2016
  14. Registered appraiser according to the Companies Law of 2013
  15. Authorized representative in various acts such as GST, IT, RERA, FEMA and DGFT

I wish you the best !

Good luck ! :-)

That's a bull!

Don't listen to people who don't know anything about this course. ICMAI-ICWAI-CMA is a standard GOLD rating in Finance. Almost as good as CA. The only difference between CMA and CA is three years of mandatory item shipping.

CAs specialize more in Financial Accounting, Audits, and Direct Taxes. While CMAs are specialists in cost accounting, management accounting, valuations, MIS and indirect taxes.

CMA was created in 1959…. just because this role needed more knowledge of the world of manufacturing than just accounting (as in CA). In a way, it is a specialized course in Finance.

Keep reading

That's a bull!

Don't listen to people who don't know anything about this course. ICMAI-ICWAI-CMA is a standard GOLD rating in Finance. Almost as good as CA. The only difference between CMA and CA is three years of mandatory item shipping.

CAs specialize more in Financial Accounting, Audits, and Direct Taxes. While CMAs are specialists in cost accounting, management accounting, valuations, MIS and indirect taxes.

CMA was created in 1959…. just because this role needed more knowledge of the world of manufacturing than just accounting (as in CA). In a way, it is a specialized course in Finance. Engineers thrive on this course. Please note that the course requires good numerical skills and familiarity with manufacturing activities and business processes. Don't treat it as an academic activity. Don't treat it as a convenient option to circumvent the rigor of shipping 3-year items in CA.

After 59 years of the Institute's existence in India, to date there are reportedly only around 65,000 qualified CMAs (ICWAs), and every year no more than 2,000 new CMAs join this group (base for the entire India). Compare this to the reports of some 5L MBAs that pass each year. So CMAs are, in fact, rare.

But the Course itself is not a magic wand. Institute has hardly any real-life points of contact with students. There are some pointless curricular requirements, but next to no tutoring. The course seeks just 6 months of practical experience, but most CMA students fake it. So unless you have good English, command of MS-Excel, some social skills, and significant hands-on exposure ... it's hard to land a decent first job.

So, don't expect the Course (per se) to transform a FROG into a PRINCE.

The course is GOLD Standard and the scope is huge.

It all depends on what you do with it!

CMA USA is a stepping stone or an additional course.

Take the case of X, Y, Z and W

X is a BCom graduate and wants to do CPA. But before you try it, you want to get into a course where you can get a decent overview. You do CMA and get promoted at your existing company, get a better position or a better job.

And he is a Chartered Accountant from India and is willing to pursue a course in Management Accounting. You don't have enough patience left to do CIMA or ICWA. So you take the US CMA out of India and you get ICWA.

Z is already a US CPA and wants to pursue another degree with the knowledge that he already has a

Keep reading

CMA USA is a stepping stone or an additional course.

Take the case of X, Y, Z and W

X is a BCom graduate and wants to do CPA. But before you try it, you want to get into a course where you can get a decent overview. You do CMA and get promoted at your existing company, get a better position or a better job.

And he is a Chartered Accountant from India and is willing to pursue a course in Management Accounting. You don't have enough patience left to do CIMA or ICWA. So you take the US CMA out of India and you get ICWA.

Z is already a US CPA and wants to pursue another degree with the knowledge he already has and is awarded by US CMA outside India and gets ICWA.

W is working at the middle level or higher in an esteemed organization and is willing to have a professional certification in his profile. He is very busy having calls and meetings on a daily basis. You need a course that predominantly has multiple-choice questions and is less descriptive. Also, fewer exams would be an added advantage. US CMA check all the boxes here.

So to wrap up, if you want to use CMA as a stepping stone and if you can be content with a basic job that gets you as good as new, then you have to. This is not a complete course in and of itself and will not reward you as much as a CPA / CFA / ICWA / CIMA.

And to answer your question, for a cooler version, it can be as low as Rs. 4 LPA.

Can a CMA make cillions of rupees? Of course! I know several CMAs who are in that league. The highest I know of earned Rs. Rs 8 million in 2017 (including bonus etc.)

There is no real link between education and income for most people. Whether it's a CA, CS, or CMA, for most people, let's say 99% + salary is within a band. It is only a lucky few who are in the right place at the right time who earn from pretty to downright obscene amounts.

Although a high salary possibly gives you a good lifestyle, the only respite is that at the end of the day no one is going to carry any wealth.

Keep reading

Can a CMA make cillions of rupees? Of course! I know several CMAs who are in that league. The highest I know of earned Rs. Rs 8 million in 2017 (including bonus etc.)

There is no real link between education and income for most people. Whether it's a CA, CS, or CMA, for most people, let's say 99% + salary is within a band. It is only a lucky few who are in the right place at the right time who earn from pretty to downright obscene amounts.

Although a high salary possibly gives you a good lifestyle, the only respite is that, at the end of the day, no one is going to carry any wealth with them or be remembered beyond a point because of their wealth.

Before discussing about CMA salary in India, let's first analyze CMA opportunities in India. Prime Minister Narendra Modi launched the Make in India initiative on September 25, 2014, with the main aim of turning India into a global manufacturing hub, encouraging national and multinational companies to manufacture their products in the country. The growth of the manufacturing sector is followed by higher demand for CMA. Therefore, there is no shortage of opportunities for CMAs. The stiphened item offered to CMA inter was rs 22000 this year at NLC INDIA. So I guess a pe

Keep reading

Before discussing about CMA salary in India, let's first analyze CMA opportunities in India. Prime Minister Narendra Modi launched the Make in India initiative on September 25, 2014, with the main aim of turning India into a global manufacturing hub, encouraging national and multinational companies to manufacture their products in the country. The growth of the manufacturing sector is followed by higher demand for CMA. Therefore, there is no shortage of opportunities for CMAs. The stiphened item offered to CMA inter was rs 22000 this year at NLC INDIA. So I guess a person would earn at least 3-4 times the amount of their item. Furthermore, AIR holders are offered a salary of not less than 12 lacs per year. What's more, the current shipping period for the item has been increased to 15 months from the previous 6 months. So with more experience the exposure for a new CMA would be better. So you can demand better wages in the market. So yes, the market is currently very good for CMA.

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