CMA vs CGMA - The Quickest Path To Career Success!
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- čas přidán 26. 07. 2024
- CMA vs CGMA - The Quickest Path To Career Success! // With a new entrant into the management accounting certification space, the CMA vs CGMA is a big question!
One of the big considerations is the earning potential with each designation. CGMA salary vs CMA salary is another big question people wonder about and along with CGMA career vs CMA career. People looking to work in management accounting normally go for the CMA designation. However, the CGMA has been a new option and accounting professionals have questions about it.
The CGMA can be obtained via the CIMA or AICPA route. Both have unique paths that I’ll go over in this video. Either path requires that you study for and pass the CGMA exam. The CMA accounting designation from the IMA, has been the top choice among accountants for nearly 50 years. I have many videos in this channel about how to become a CMA so you can watch those any time after watching this one about CMA or CGMA.
RESOURCES & LINKS MENTIONED IN THIS VIDEO:
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Thanks for watching! Which designation are you thinking of pursuing first? CMA or CGMA?
Hey satyam here ☺️
The for the information !! Btw
I passed my 12 th garde with 77.85% in board exam 😊
Congratulations!!
Nathan when are you coming live ?
every Friday my friend.
Hi, I would like to pursue a career in accounting. I already have a bachelors, however I'm more interested in strategy and risk management. Which route do you recommend?
Thanks for explaining the two designations!
You bet!
The message and steps you offer are direct and easy to follow.
I'm glad you think so. Thanks for watching!
Great explaining the opportunities you can get from the two!
Glad you think so!
Didn't know this! Thanks!
Happy to help!
CIMA is predominantly UK based professional qualification, it has completely different educational landscape comparing to its American counterpart; As a CIMA qualified accountant (more than a decade ago), I always see myself as a ACMA and find the title of 'CGMA' a bit of scam, the way I see it it's just a dishonourable marketing practice that aims to maximize the the number of intakes regardless of their individual background and career aspirations , which is completely unnecessary; Well, 【less known】 is good, recognition in a small circle and know your trade, more be proud of it, works for me~~
Thank you for sharing your perspective on CIMA and CGMA. It's important to hear different viewpoints and experiences.
Interesting video, I'm currently a Managerial Accounting student. I'm thinking about perusing a Cgma because the CMA designation is not popular in my country(South Africa) but it was nice to get some insight on a similar similar designation
Thanks for watching Jerarrd!
Hey Jararred, did you decide on which qualification you wanted to pursue?
I have a friend who is studying for their CMA exam. I will be showing him this video. Thanks for sharing
Please do! Thank you!
Two ways to obtain cgma: take 12 exams and 3 years of work experience, or just pay $5.
I prefer the CMA as it is better for those based out of the USA. CGMA is too expensive and still developing a brand image that is respected by companies.... BTW , I like your channel, I have decided to go after the CMA and it helps to see your videos. Keep it up
Hi Traeton, I totally agree. And thanks for watching my videos. Glad they are helpful!
Great Video 🙂 CIMA and CGMA both are different courses? and which one is better. As per my work experience and qualification i am getting decent exemptions in CIMA and only give 2 case study exam but i will get CGMA degree. So my question is - It's worth to do CGMA or good to obtain for CIMA with all 11 exams. Also what's ur opinion, which is best - CMA II CIMA II CGMA. please advice.
Yes
thank u sir , it is very helpful .
Most welcome. Thanks for watching!
As a cgma a student, I’d advise anyone who watch this videos to go to the CIMA website and read the information there or chat to an assistant on the website because I don’t seem to agree with most of what you said. For example salary is provided properly on the website, in fact I was looking at it just yesterday, all detailed from entry level
The information presented was current as of the date of the recording of this video. If there's more information available now that's great to hear. Thanks for sharing :)
Hi. I am a cost and management student and would like to know how you went about studying towards CGMA
someone said "CIMA Advanced Diploma in Management Accounting" =" Master Degree In UK"..is it correct?
I'm not sure. You may want to ask that 'someone" for more information. I'm not familiar with MBA programs in the UK.
I have been working in corp America as an accountant for 30+ years. I haven't needed to become a CPA to date because of the years of experience and specialty. I am finding that now after all of these years I am being asked to be a CPA which I am pursuing now. I am looking at these certs to see if these would also be worthwhile. Salary is not the issue. It is the opportunity to get to the next level. Just wondering what you might be seeing in industry. I'm not necessarily concerned about international either. Controller or CFO is the next step and I am tired of not being able to check the CPA box.
Hi Linda. If you're looking to advance your career towards the role of Controller or CFO, obtaining the CPA certification is a great option. Additionally, consider the CMA certification as it would complement your accounting skills with managerial accounting.
I was watching this thinking it was for CMAs. (Certified Medical Assistants) lmao
bahaha I can see why it would be confusing at first.
It's also worth noting that when the CGMA was first available, it had some well deserved controversy surrounding it. Initially, the "certification" was made available to CPAs if they were to pay a few hundred dollars (no exam necessary), and if they did, they can put CGMA after names. Because of this, CGMA is tainted to a certain degree. How do we separate the folks who received their CGMA credential by paying the fee vs the folks who later received the credential after AICPA got around to making exams for it?
Thanks for pointing that out. I recall this controversy surrounding the CGMA which hurt its credibility unfortunately. I think the only way to separate the two groups is by mentioning it during an interview or in conversation. By simply seeing CGMA on someone's profile or business card, it doesn't accurately show if the individual passed the exam or simply paid the fee to have it. It's unfortunate.
Hello Nathan,
My question is that, I have 3 year bachelor degree from India in business administration and have more than 6 years of accounting experience in not for profit, will i meet educational requirement for CMA examination or not?
Thank You.
There are several requirements before a candidate can become officially CMA certified. Here’s my article on this topic: cmaexamacademy.com/cma-certification-requirements/
Really confused between CPA Canada, CMA, CIMA and CGA.. Online it has been stated that CPA is integrating 40 degrees within itself (2014). Just very confused as to what would be best suitable
For a career in taxation, audit and compliance, the CPA is the way to go. For a career in management accounting, the US CMA is the gold standard. Does this distinction help?
@@Cmacoach Yes! Thank you 😊
Talked about career in accounting, can you please further explain on that under CMA or CGMA
I went over it in the video :)
Hey i have completed CMA and because of the covid pandemic and being a freasher i am finding difficult to find job opportunity, so I'm thinking of doing CPA . What is your opinion??
Akash, I have a free weekly newsletter listing CMA job openings: cmaexamacademy.com/cma-dream-jobs-discover-a-6-figure-accounting-career-today/
Sir, basically i am from India, so will this help me??
It's primarily geared for jobs in the USA, but I'll eventually add India as well.
I have completed Bachelor's degree in Commerce. I'm choosing CMA US. Is it preferable that i do MBA alongside or after CMA? And which MBA is best suitable after CMA? Will it make a good value addition to my resume or is CMA US more than enough to get a good job?
I have an awesome resource that’ll give you a lot more information about career and salary potential as a CMA. Check it out here cmaexamacademy.com/certified-management-accountant-salary-in-the-usa/ref/nathan/
@Fatima Ali
After doing us cma can we work in india with average salary or moderately high paid salary?
Heyy Nathan! I'm pursuing with my CMA now. After clearing both the parts in CMA is there any privileges for giving exam of CGMA?
no exemptions
No there aren't any privileges. However, the CMA designation is the gold standard in management accounting. You don't need the CGMA if you already have the CMA.
Hey tanya... I'm Indian too... And have so many queries regarding cma ... Can you please share your email id or insta username with me so that I can get in touch with you?
Yes sir I want a career in accounting
That's great to hear! It's a stable career.
Thank you for the video...
I'm 10 years experienced with Finance and Logistics field.. Will i get opportunity after finishing CIMA?
I have an awesome resource that’ll give you a lot more information about career and salary potential as a CMA. Check it out here cmaexamacademy.com/certified-management-accountant-salary-in-the-usa/ref/nathan/
@@Cmacoach I'm already with CIMA, kindly please provide details about CIMA for my above question.
You really know your stuff!
Thanks sir!
Hello sir. I have done pgdm. I am working as an accountant in saudi Arabia since 4 years. I want to do cma usa tu upgrade myself in my field. Is this course ok to pursue? Plz suggest.
Absolutely, Salik. I think it's a good fit since you already work in the accounting space. Here's an article to help you step by step: cmaexamacademy.com/how-to-become-a-cma-in-just-over-6-months/
Hi, i'm a student in level three.
I have no experience, but i need to get cma certificate.
Who can you guide me, start now or not. And if yes. Please guide me who can i start, and what the book can i buy to study from.
Ahmed, this is a good time to learn about the CMA and how the process works to earn this certification. This article will guide you step-by-step on how to become a CMA: cmaexamacademy.com/how-to-become-a-cma-in-just-over-6-months/
@@Cmacoach thank you so much❤❤❤
Would it add value to do CMA after 20 years of experience and being in a senior role in finance . I have an executive MBA with B.com but no technical accounting title like CA or CPA
I believe it would add value. The scope of topics you'll learn while studying for the exam will enhance your current skillset and knowledge.
@@Cmacoach which designation has higher market recognition . CPA or CMA,?
Both serve a different purpose so we aren't really comparing apples to apples. If you want to work in taxation and audit, the CPA is king. If you want to work in management accounting then the CMA is king.
@cma coach: Could you also do the similar video CMA vs CIMA? Many thanks.
Yes absolutely :)
+1
Hello sir
I'm pursuing CGMA right now , anything that you could help me out , need to talk !
Hi Amudala, I currently provide coaching support and study materials for the CMA exam only, not the CGMA.
@CMA Coach, you're not completely correct that CGMA certification started in 2012. CGMA is actually an alliance between the UK's CIMA and the US' AICPA. CIMA was founded in 1919 while AICPA 1887.
If you truly need to do a comparative analysis of management accounting certifications, its better you compare CIMA vs. CMA. 👍
Hey Chris, I appreciate your feedback, thank you! When I speak about 2012, I'm referring to when the CGMA designation was created, not when the organizations were founded. Per the cgma.org website, this designation was created in 2012.
But I like the suggestion of doing a comparison between CIMA vs CMA. I'll add that to my content calendar. Thank you!
I also find the comparison difficult to understand. To be a cgma using the two different routes will still require more than one exam, not sure if there’s anyone who was exempted for all exams and only wrote strategic case study exam. The experience requirements are also not explained fully. The salary analysis 🧐 I question a lot that you said about cgma
I have passed all exams of CIMA. Do you think pursuing CMA would be beneficial for me? Would my knowledge of CIMA help me to pass CMA exams?
There will definitely be some overlap in the subject matter tested. If you're looking for a global designation in management accounting, then the CMA is a good option to pursue.
Please is CMA recognized globally?
Yes it is :) Here's an article that goes over it in more detail: cmaexamacademy.com/what-is-cma/ref/nathan/
is CGMA WELL RECOGNIZED IN USA
Yes it is, but the CMA is the gold standard in management accounting.
What might be the minimum starting salary for a CMA ?
There are many variables that we need to take into account Sabari. Read this article for a deep dive into careers and salaries: cmaexamacademy.com/cma-careers/
@@Cmacoach But sir which one should I believe? You're an experienced CMA. From your knowledge what do you think the minimum salary of a CMA would be? I just want the lowest figure.
Sabari, there are so many variables about you that I don't know such as age, experience, country, industry, company, etc. So I can't give you a specific figure like you ask. For more info read this salary survey www.imanet.org/career-resources/salary-information
@@Cmacoach the link you shared i didn't understand a single thing🤔 looks complicated..
Do cma have scope in Australia . ??
Hi Shaun, I believe Australia has its own version of the CMA, but if you're looking for a global designation, the US CMA is the only one with this type of prestige worldwide.
Can a CMA with his knowledge become an entrepreneur?
Accounting is the language of business so absolutely Majid. You'll need to know more than accounting to run a business successfully but it's a must imo.
is new zealand australia and us cma different
Gani, the US CMA is the only certification recognized globally. The others are only for those specific countries which the US CMA is also recognized in.
@@Cmacoach thanks a lot for your reply i need some questions, can i ask you, i want to tell you my career and education, please tell me your email, i really need help for make career, please please please
Contact me here www.cmacoach.com/contact/
Wow, don't pass up the free download!!
Virtual high-five!
After this video it is unfair to equate CMA with GCMA
I agree. These two designations are not equal. That's why it was important to explain the differences here.
Sure CIMA CGMA best from CMA
Hi. Both CIMA/CGMA and CMA offer valuable skills, but they focus on different aspects of the accounting and finance world. If your aim is global strategic management and you're leaning towards business operations, CIMA/CGMA might be more up your alley. CMA, on the other hand, is excellent for expertise in financial management and strategy within the corporate environment. Choose what best fits your career path!
CMA>CGMA
🙌