CMA Scope

The advantages of doing the CFA course for any graduate starts from gaining analytical skills in quantitative methods, financial reporting, portfolio management, investment analytics and many more. CFAs can work in a plethora of fields ranging from Investment Banking, Finance, Corporate Sectors, Leasing Openings, Insurance, Banking, Railways, RBI and other financial institutions like IDBI and ICICI, in India. On the other hand, the benefits of getting trained as a CMA professional in the industry and commerce helps one to deliver audit, business and tax services to prospective clients. CMAs in India can work in the domain of International Business, Banking, Education, Teaching, Finance and Accounting, etc.

US CMAs are considered highly desirable for FP&A job roles (financial reporting, financial planning, financial analysis, and financial decision making). The US CMA curriculum also focuses on developing and testing the skills required to perform the aforementioned jobs. Many American CFOs choose to be US CMAs themselves and prefer to hire US CMAs in their teams. CMAs expertise in USGAAP and understand its distinctions from IFRS. In most cases, multinational companies registered with the SEC in the USA have to provide audited annual financial statements per USGAAP. These financial statements are prepared by the internal finance team of the company. Since CMAs are well qualified in USGAAP and understand the SEC reporting requirements well, companies preparing their financial statements using USGAAP prefer to hire US CMAs for the job. India is a hotbed of and a key player in Business Process Outsourcing. A majority of the outsourced financial work in India comes from the USA and UK since NYSE (New York Stock Exchange) and LSE (London Stock Exchange) represent the world's the largest financial markets. As most major brands are American entities that follow USGAAP, this creates tremendous job opportunities for US CMAs in India (in the BPO sector). Another major source of employment for CMAs are FP&A jobs directly with American companies that have branches in India, but prepare financial statements using USGAAP, at the parent level. The average salary package for a fresher CMA with no experience ranges from INR 4.5-6 Lacs p. a. Of course, with experience the salary increases, and depending upon the role, compensations will vary.

CS in India is a course famous among the commerce/accounting professionals in India. The course is built around the objective to have high caliber professionals facilitating good corporate governance. CMA is a well-known course among the management and cost accounting professionals. The certificate issued by the Institute of Management Accountants - IMA, provides a deep understanding of managerial decision making and cost measuring concepts. It also includes an introduction to fintech subjects helping the professionals be industry and tech-ready. Talking about the scope of work, CS has more scope in India, especially in Indian based (origin) companies. You'll have a brighter role to play in MNCs if you have CMA.

CMA India | Opportunities for CMA students in India
Opportunities for CMA students in India are available across all areas of an organisation 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:
3M
Alcoa
AT&T
Bank of America
Boeing
Cargill
Caterpillar
ConAgra
Hewlett-Packard
Johnson & Johnson
Microsoft
Procter & Gamble
KeyCorp
Whirlpool
Saudi Aramco
Verizon
Xerox
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 controllers department
CMA India Profiles | Mid-Level:
Common profiles for CMA: Accounting manager or senior accountant, senior internal auditor.

In order to achieve any goal, you have to really want it. If you don't have the conviction and see yourself passing the CMA exam, it'll be hard to stick to a study plan. Having a well-thought-out study plan from the beginning will save a lot of time and stress down the road. Develop a 12-week study plan for each part. Anything less than 12 weeks may not give you enough time to assimilate every topic. Studying small chunks each day makes the entire process lighter and manageable, and you will actually retain much more of what you study. My recommendation is to study with a solid CMA course for at least 2 to 3 hours a day and at least 6 to 8 hours on the weekends. Also, take mock tests.