How to Become a Certified Management Accountant (CMA)

Thinking about a career in finance that sets you apart from the crowd? Then the Certified Management Accountant (CMA) credential might just be your calling. Recognized globally and highly valued across industries, the CMA opens doors to high-paying jobs, leadership positions, and global recognition in the world of accounting and management.

If you’re wondering how to become a Certified Management Accountant in 2025, this step-by-step guide will walk you through everything you need—from eligibility to exam structure, preparation, certification, and career opportunities.

Why Become a CMA?

The CMA is a professional credential offered by the Institute of Management Accountants (IMA). It proves your expertise in financial planning, analysis, control, and decision support—skills that are in high demand globally.

Here’s why the CMA is worth it:

• Recognized in over 100 countries

• Average global salary is 55% higher than non-CMAs

• Opens opportunities in finance, accounting, and business strategy

• Preferred by Fortune 500 companies
  

Eligibility Criteria to Become a Certified Management Accountant (CMA)

Before embarking on your CMA journey, it’s essential to understand the eligibility criteria set by the Institute of Management Accountants (IMA). Here’s what you need to qualify:

1. Educational Qualification

You must have a Bachelor’s degree from an accredited college or university. The degree can be in any discipline, though a background in commerce, finance, or accounting is recommended.

2. Professional Experience

To earn the CMA certification, candidates must complete two continuous years of professional experience in management accounting, financial analysis, budgeting, auditing, or similar areas. This can be completed before or within seven years of passing the exam.

3. IMA Membership

You must hold an active membership with the Institute of Management Accountants (IMA). Students can also apply for discounted memberships.

4. Pass Both Parts of the CMA Exam

You must pass both Part 1 (Financial Planning, Performance, and Analytics) and Part 2 (Strategic Financial Management) of the CMA USA exam within a three-year window.

Step-by-Step Guide: How to Become a CMA

Step 1: Meet the CMA Eligibility Criteria

To pursue the CMA certification, you must meet the following:

1. Educational Requirement

   • A bachelor’s degree from an accredited college/university

   • Or a professional accounting qualification (e.g., CA, CPA)
     

2. Professional Experience

   • Two years of continuous work experience in management accounting or financial management (can be completed after passing the exams)
     

3. IMA Membership

   • You must become a member of the Institute of Management Accountants (IMA)
     

Step 2 : Enroll in the CMA Program

Once eligible, you’ll need to:

• Join IMA and pay the entrance fee

• Choose a CMA coaching institute to guide you (we recommend TheCMAGuy for expert-led classes)

• Start preparing for the exam!
  

Step 3 : Understand the CMA Exam Structure

The CMA exam has two parts:

Part 1: Financial Planning, Performance, and Analytics	Part 2: Strategic Financial Management
External Financial Reporting Decisions	Financial Statement Analysis
Planning, Budgeting & Forecasting	Corporate Finance
Performance Management	Decision Analysis
Cost Management	Risk Management
Internal Controls	Investment Decisions
Technology and Analytics	Professional Ethics

Each part consists of:

• 100 Multiple Choice Questions

• 2 Essay Questions
  

Step 4 : Prepare for the CMA Exam

Your preparation should be focused, structured, and strategic. Most students spend 4-6 months preparing for each part.

Tips:

• Follow a study schedule (2-3 hours/day)

• Use IMA-approved materials like Wiley, Gleim, or Hock

• Take mock tests regularly

• Enroll in a coaching program like TheCMAGuy for expert mentorship
  

Step 5 : Register and Take the CMA Exam

The CMA exams are offered in three testing windows annually:

• January–February

• May–June

• September–October

You can take both parts in one window or separately.

Step 6 : Fulfill the Work Experience Requirement

If not already completed, you have up to seven years after passing the exam to meet the two-year work experience requirement in management accounting or financial management.

Step 7 : Get Certified!

Once you pass both exam parts and meet the work experience criteria, you'll be awarded the CMA certification by IMA.

Career Opportunities After Becoming a CMA

A CMA certification enhances your profile for roles like:

• Financial Analyst

• Cost Accountant

• Corporate Controller

• CFO

• Budget Analyst

• Risk Manager

Companies like Accenture, Amazon, Deloitte, PWC, and Microsoft actively hire CMAs.

FAQs

1. What is the cost of the CMA certification?

The total cost, including exam and membership fees, is approx. $1,200–$2,000 depending on whether you’re a student or a professional.

2. Is CMA better than MBA?

CMA is specialized in finance and accounting while MBA offers broader business education. For finance roles, CMA is often preferred.

3. Can I do CMA without work experience?

Yes, you can take the exam without experience. You’ll receive the certificate once you complete the required two years of work.

4. How long does it take to become a CMA?

On average, it takes 12-18 months to pass both exam parts and gain certification.

5. Is CMA USA in demand in India?

Absolutely! With growing global businesses and financial regulation, CMAs are in high demand in India and abroad.

6. What are the best CMA coaching institutes in Bangalore?

TheCMAGuy is widely recommended for CMA coaching with high pass rates and personalized mentorship.