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Important Facts You Should Know About The CIMA Qualification

We all know that the CIMA qualification offered by the chartered institute of management accountants is a renowned course in finance and it has been so since almost a century now. It has got all the necessary vintage, credentials and demand that makes thousands of candidates appear for the examinations every year in order to enter the lucrative world of CIMA careers.

As per you should by the Chartered Institute Of Management Accountants in 2016, at present the CIMA qualification has a reach in 179 countries and at present, there are 2,27,000 members and students. This is a large number and goes a long way in showing how popular the CIMA qualification is.

Essential Facts About The CIMA Qualification:

Skills imparted in the course

The CIMA certificate holders are considered to be to be experts in management accounting and business in general. It is a broad based course that contains subjects and topics which help in building the competency of the students in the areas of:

  • Strategy formulation
  • Planning
  • Analytics
  • Risk management
  • Communication

Acquiring these skills is essential for becoming a world-class professional and the students have to pass a challenging examination and get the CIMA qualification. Candidates who want to get an even higher qualification can aim for the Chartered Global Management Accountant (CGMA) designation by fulfilling the necessary practical experience requirements.

Career options for CIMA certified candidates

As mentioned earlier the CIMA course imparts when a critical business and management skills in the candidates. They have the ability to apply the theoretical concepts that they have learnt in the course in the practical business situations. This is what sets them apart from the holders of many other financial qualifications.

Most companies need these skills and practical knowledge and actively recruit CIMA certificate holders to fill up vacancies at various levels in their companies. While mostly they are recruited in the finance departments, they often play a critical role in business operations and have to work in several departments, acting as a link between them.

The types of jobs that you can get as a CIMA certificate holder are:

  • Financial analyst
  • Strategy officer
  • Commercial analyst
  • Financial manager
  • Risk manager
  • Commercial planner
  • Finance controller

While applying for a job do not forget to mention CIMA as your primary educational qualification. In this way, you are most likely to catch the attention of the hiring manager and be selected for an interview much faster.

It is your passport to becoming a CFO

Do you dream to work your way to become the top was in the finance department someday? In that case becoming a CIMA certificate holder and joining a company as a finance manager or in an equivalent role is your best option. Many of those who work as a CFO today are CIMA certificate holders who had started their careers in an entry level position in the finance department. They spent many years working in different roles and moved up the corporate ladder to reach the top most level in the finance department.

In fact, there are many Chief Executive Officers (CEO) who are also CIMA certificate holders. Needless to say, you have to be extremely ambitious and hardworking to reach this level after completing your CIMA qualifications.

Salary potential

The salary that you cannot after becoming CIMA certified is very lucrative and is one of the major reasons why people choose CIMA careers. As per the 2016 CMA salary survey, the average salary of the CIMA certificate holders is £68,647 globally. Even the students of the CIMA course earn attractive salary packages. The global average salary drawn by them is £27,146 in 2016.

Apart from this, 70% of the members surveyed said that they expect to receive an average bonus 11% in 2016 and 62% of the students were expecting to receive an average bonus of 9%.

The chances of getting a salary increment are also very high and a majority of the CIMA qualification holders and the students who were surveyed expected to receive handsome salary increments year on year.

Member support

Your education will not come to an end once you pass the exams and get the CIMA qualification. The chartered institute of management accountants provides continuing support and resources to its members for developing them professionally. So even after qualifying as a CIMA, you can expect to get the same type of support for them as you use to get as a student.

Some of the resources that you will get from CIMA are as follows:

  • Continued professional development for expanding your skills and in enriching your existing knowledge
  • Guidance in ethics and professionalism
  • News on the move
  • Carrier support
  • Community support and networking opportunities

The intervention and support from the institute for developing the profession and its members have been on the rise over the years. This another factor that makes the CIMA qualification a very highly rewarding professional degree in finance and a most sought after qualification among the employers.