
14th January, 2025
CMA- Cost Management Accounting
Is CMA is easier than MBA
Table of Contents
Well, Cost and Management Accountant (CMA) and Master of Business Administration (MBA) are effective way to progress.
Whether CMA is easier than an MBA depends on several factors like career goals, study background, and personal strengths.
By continue reading this article, students will get to know whether CMA is easier than MBA or not.
What is an MBA?
An MBA is a post-graduate level program that provides both theoretical and practical training for business or investment management. Also, this course is specially designed to help graduates gain a better understanding of business management functions.
Check out the below table to know about the merits and demerits of doing an MBA
Merits of MBA |
Demerits of MBA |
The MBA course provides a wide range of knowledge related to business, finance, operation, marketing, and management, which leads to diverse career paths. |
Pursuing an MBA degree is costly. The fee of an MBA course is relatively very high as compared to CMA. |
By doing an MBA, students have various job opportunities, including marketing, consulting, and entrepreneurship. |
An MBA is time-consuming as this degree requires two years of full-time study. |
The pay scale of an MBA graduate is higher than that of a CMA. The average salary of an MBA graduate is 7-12 lakhs p.a. |
What is CMA?
Cost and Management Accountants (CMA) is a professional qualified certification which is issued by the Institute of Cost Accountants of India (ICMAI). A Cost and Management Accountants plays an important role in the financial and operational management of organizations.
There are three levels in the CMA course, namely, CMA Foundation, CMA Inter, and CMA Final. To become a Cost and Management Accountant, a candidate needs to pass all three levels.
Merits of CMA |
Demerits of CMA |
The CMA course specifically focuses on management accounting and provides a deep understanding of financial management within organizations. |
CMA has lower salary as compare to the MBA students. |
The duration of this course is less as compared to the MBA it takes only 1-2 years to complete (without articleship training). |
CMA professionals only work in accounting, finance, and auditing. An MBA has a wider range of career options. |
The CMA course has a low examination fees and tuition fees as compared to MBA course. |
MBA placements are much better than CMA placements. |
The CMA is recognized not only in India but also recognised internationally. |
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They are in high demand due to the increasing need for data-driven financial expertise in organizations. |
Career options after CMA
Management Accountant: There are many responsibilities of a management accountant including analyse costs, sales, budgets and spending, conduct audits, identify past trends and anticipate future needs. The skills required for management accountants are strategic and budget planning, risk management, and financial data analysis. The average salary of management accountants in India is 10 lakhs per year.
Cost Accountant: They analyze business production costs and find a way how to maximize the profit of the business. The key responsibilities of a cost accountant are checking annual physical inventory, designing and implementing cost accounting system, analyse production costs. The average salary of a cost accountant in India is 6-6.5 lakhs.
Financial Risk Manager: They Analyze data and the financial market and determine potential threats to an organisation’s financial success. They have many responsibilities, including gathering all the information from the clients, managing insurance policies of the company, prepare budget related to risk management. The average salary of a financial risk manager in India is 9-11 lakhs per year.
Financial Analyst: They study related to microeconomics and market trends factors that help the company make smart investments with its capital. The key responsibilities of a financial analyst are analyzing present and past data, evaluating and establishing profit plans, and exploring investment opportunities. The average salary of a financial analyst in India is 6-7 lakhs per year.
Chief Financial Officer (CFO): A chief financial officer is a top-level executive who handles everything which is related to cash flow, taxation, and financial planning issues. They have many responsibilities, including giving advice on financial planning and long-term business, providing leadership, management, and direction to the finance and accounting team. The average salary of a CFO in India is 19-20 lakhs per year.
Career options after MBA
There are various career options after an MBA. Here is the list of jobs after an MBA.
Operations Analyst
To improve operations within a company, they work with the departments. Their duties are helping managers, managing the supply chain, and so on. The average salary of an operations analyst in India is 3-4 lakhs per year.
Business Consultant
They are also called management consultants; they work to improve profitability and efficiency while planning for long-term changes. Most of the consultants specialize in particular industries such as transportation, retail and sales, healthcare, and so on.
Investment Banker
They are responsible for the financial processes that are related to investment ventures. Their duties are helping clients with mergers, selling equity in companies, issuing debt, and so on. In India, the average salary of an Investment Banker is 4-5 lakhs per year.
Project Manager: They look at one or more company projects. They are responsible for updating stakeholders and ensuring that material and supplies are sufficient. The average salary of a project manager in India is 7 lakhs per year.
Finance Manager: They manage the financial health of a company and make sure that company always remains profitable. They determine the financial goals and strategies for the company and give advice to executives to improve profit. The average salary for the Finance Manager is 7-7.5 lakhs per year.
Conclusion:
Both the MBA and CMA are highly reputable and related to finance and accounting that have numerous career opportunities.
After analyzing all factors, we can say that CMA is easier than MBA and allows you to step into a high-level position sooner as compared to MBA. Before making any decision, it is better to review all the parameters and your interest so that you will not feel regret.
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