CMA Opportunities in India- India is a developing economy and there are so many opportunities for CMA students, especially in the area of Banking and Finance. CMA course in India is conducted by ICMAI, which has three levels (Foundation, Intermediate and Final). So, here in this article we will provide you all the information about career opportunities for CMA students in India. If you are wondering, what in what areas CMA course opens up the opportunities for Indian students, what is the scope of CMA in India; read the complete article below. Pursuing ones professional career with proper acumen is always remarkable. This is where CMA course certification comes into the picture. It not only helps to boost the knowledge spectrum but also opens up a lot of opportunities for CMA students.
CMA certification goes well beyond knowledge. Let’s face it — we want to learn, but ultimately we need the certification to get better-paid jobs. According to a comprehensive study by IMA, CMA certification holders earn around 30% more than their non-certified counterparts.
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CMA India | Opportunities for CMA students in India
Opportunities for CMA students in India are available across all areas of an organization: in decision support, planning, and control functions. The CMA job profiles that are widely known are- CFO, CTO, Treasurer, VP (Finance) ,Controller, Finance Manager, Internal Auditor, Budget Analyst, Financial Analyst, Corporate or division planner, Senior Accountant, Cost Accountant, Staff Accountant.
These fortune 500 companies are known to have CMAs in their key management roles:
- Bank of America
- Johnson & Johnson
- Procter & Gamble
- Saudi Aramco
Here is a list of opportunities for CMA students in India:
CMA India Profiles | Entry Level:
Common profiles for CMA: Staff accountant, cost accountant, junior internal auditor
Education & Skills: Bachelor degree in finance or accounting
Common CMA Job Profiles:
- The person would work under a senior accountant or manager
- Would be employed in the budget department
- Would be involved in preparing reports for the controller’s department
CMA India Profiles | Mid-Level:
Common profiles for CMA: Accounting manager or senior accountant, senior internal auditor
Education & Skills:
- All entry-level requirements
- Strong communication and analytical skills
Common CMA Job Profiles:
- Oversee and help in preparation of financial statements
- Actively assess internal controls
- Analyse and/or prepare monthly financial information
- Create and analyse comprehensive company budgets
CMA India Profiles | Senior Level:
Common profiles for CMA: Controller, Chief Financial Officer, Director of accounting or finance
Education & Skills:
- All mid-level requirements
- Responsible for tracking and creating company benchmarks for record of excellence and leadership
- Must possess solid management skills
- Must have in depth knowledge and insights of the relevant industry
- Responsible for all or part of a company’s financial status, actions and transactions
- Hire, train and oversee staff
- Responsible for performing financial analysis
- Highly instrumental in building business strategy
- Responsible for managing relationships with investors and auditors
Thus it can be clearly observed that the opportunities for CMA students is quite diverse. Moreover, the salary of a CMA ranges from Rs. 500000 p.a (for entry level jobs) to 30, 00,000-50, 00,000 p.a (for senior level CMA job profiles). Thus it is worthwhile to invest time and energy to gain the necessary skillsets and gain that extra edge.
Moreover as the global economy gears up for a major shift and all business firms begin to radically change their financial practices newer opportunities for CMA students are sure to open up. Thus investing in the CMA certification provides a great opportunity to be future ready and grab the first movers advantage.
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