Top Reasons Why Finance Professionals Choose CMA USA Over MBA

With so many finance professionals trying to stay competitive, there are many qualifications that professionals seek that give them the best chance at climbing the corporate ladder, receiving international recognition, and obtaining advanced skills in a certain field. The CMA USA (Certified Management Accountant) and the MBA (Master of Business Administration) are two of the most common qualifications for career advancement, especially in finance. Unlike the MBA, which has been the most common choice for career advancement, many finance professionals are now getting the CMA USA.

This brings us to the most common question: Why are the increased number of finance professionals getting the CMA USA rather than the MBA? Here are the main reasons. 

What are the Top 7 Reasons why Finance Professionals Choose CMA USA Over MBA?

An MBA has a wider exposure, but for finance professionals, CMA USA is the better option for those looking to gain strong skills in a shorter time and a better ROI. CMA USA is the better option for those looking to excel in global finance and management accounting.

1. Specialized Focus in Finance and Management Accounting

While the core business topics, such as marketing, HR, operations, and strategy, are covered in the MBA, CMA USA specifically caters to the most in-demand business skills: finance, cost management, decision-making, and strategic analysis. The CMA USA certification provides the essential skills that finance, accounting, and corporate decision-making professionals need in their day-to-day business interactions.

2. Global Recognition and Mobility 

CMA USA certification holds value in over 100 countries. This makes it extremely useful for people aiming for careers in multinationals and those pursuing global opportunities. Compared to an MBA, which can be useful but has varying value based on the institution and country where it’s done. A CMA USA credential from the Institute of Management Accountants (IMA), USA, is recognized everywhere, unlike an MBA, which often has a highly variable ‘brand value’.

3. Shorter Duration and Flexibility

A traditional MBA takes 2 full years, while a USA CMA can be done in 12-18 months with just 2 exam parts. Also, working adults can prepare for it and have the option of not stopping their careers to do the USA CMA. This is why CMA USA is more appealing to people looking to improve their qualifications while working.

4. Cost-Effectiveness 

Obtaining an MBA (particularly from a well-regarded establishment) can cost upwards of 10-25 lakhs (or more). By comparison, CMA USA is much more affordable because it can be done for an average of 1-2.5 lakhs. This strong ROI makes the CMA USA certification a good value for money. Most finance professionals choose CMA USA because it is highly recognized worldwide and offers a much lower cost alternative to an MBA.

5. Greater Industry Demand for CMA Skills

Contemporary companies look for professionals who can assess and prepare accounts, and who can also interpret data for predictive analytics. CMA USA connects accounting with business strategy with an emphasis on financial analysis, planning, cost control, and risk management. These skills are especially admired by employers like MNCs and The Big 4 compared to the generalist training received in most MBA programs.

6. Convenience for Working Professionals

An MBA, especially when taken full-time, often requires a break in one’s career odyssey, something that is often not possible for mid-career professionals. On the other hand, CMA USA is designed in such a way that candidates can study and sit for the prescribed certification exams while still on the job.

7. Increased ROI

CMA USA professionals can look forward to job titles such as Financial Analyst, Cost Accountant, FP&A Manager, or even CFO, with attractive remuneration on an international scale. Hence, for a professional in the field of finance, pursuing CMA USA provides a better return for their investment in terms of time, money, and effort compared to an MBA. Test the market and you will agree with me.

 

Did you know?  CMA USA certified professionals earn roughly 58% more median total compensation than non-CMAs, according to the IMA’s Global Salary Survey. This is one more proof of the CMA USA brand outreach and the potential it has to offer!

 

See Also 

• Can I switch to ACCA after doing an MBA or BBA?
• ACCA with MBA Benefits 
• ACCA Exemptions for MBA Finance in India 
• Short-term Courses for MBA Finance students 

FAQs on MBA For Finance Professionals 

Is CMA USA better than an MBA for finance professionals?

Yes, CMA USA provides specialized knowledge along with global recognition, since a general MBA does not offer that sector specialization.

Can I do CMA USA while working full-time?

Yes. Since CMA USA has been created for working professionals, they can easily manage their work and studies since the exam schedules are flexible.

Is an MBA still valuable for finance professionals?

Yes, but this depends on the school’s reputation, where it is located, and what it specializes in. An MBA still is the right option for someone looking for general management positions.