Career Options after CMA in 2024 - Job Opportunites & Scope

Career Options after CMA in 2024: The career options after CMA in 2024 include accountant, cost accountant, finance manager, senior finance manager, and many others. CMA stands for Certified Management Accountant. Students pursuing a CMA course can get into lucrative job roles.

It is true that the CMA degree has seen extremely promising growth and rise in recent years. Numerous educational institutions provide certification in the CMA field. The career options after CMA in 2024 have also increased significantly. Let us have a look at the top career opportunities that students can pursue after CMA.

Job Opportunities After CMA 2024

Candidates can check out the career options after CMA in 2024. Students who have pursued a CMA program can check out the lucrative job opportunities they can get into. 

Financial Analyst

Financial analysts is one of the career options after CMA in 2024 who are responsible for a range of research tasks. A financial analyst needs to have a strong mathematical background as it is a data-intensive job. They can work for insurance companies, investment banks, and other establishments.

The key responsibilities of a financial analyst are:

• Examining financial data and performance from the past and present
• Creating forecasts and reports
• Analyzing depreciation and current capital expenditures
• Looking into potential investments
• Creating and assessing profit plans

Average annual salary: 5.45 LPA

Finance Manager

Another career options after CMA in 2024 is of finance manager. An individual wholooks after finances of a company is known as a finance manager. They handle a wide range of crucial tasks, including managing spending, keeping an eye on cash flow, generating accurate financial data, and developing profit-maximizing strategies.

The key responsibilities of a finance manager are:

• Managing finance operations
• Financial planning and analysis, balance sheet reconciliations
• Ad hoc requests and projects
• Looking for ways to improve processes and controls
• Managing forecasting and budgeting

Average annual salary: 11.22 LPA
Also Read: CMA Pass Percentage 2024 Dec Session Intermediate, Final Exam

Chief Financial Officer

A senior executive who is in charge of a company's financial operations is referred to as the chief financial officer (CFO). They handle accounting and finance departments and making sure that the company's financial reports are timely and accurately completed. It is regarded as one of the well-known career options after CMA in 2024.

The key responsibilities of a chief financial officer are:

• Directing and managing the finance and accounting staff
• Making recommendations to the executive management team
• Giving guidance on long-term financial and business planning
• Maintaining connections with external partners and stakeholders, and senior management
• Go through official IT, HR, and finance procedures

Average annual salary: 36.63 LPA

Senior Finance Manager 

The senior finance manager is in charge of the finance team and oversees the provision of all financial services, reporting, and support throughout conciliation resources to ensure the smooth operation of the business and the accomplishment of its tasks. The position of senior finance manager is one of the popular career options after CMA in 2024.

The key responsibilities of a senior finance manager are:

• Manages the company's reporting, cash flow projections
• Guarantee adequate cash flow to meet business demands
• Keeps track of bank transactions and bank balances for the company 
• Assign time-sensitive tasks
• Examine contracts with the legal department pertaining to finances

Average annual salary: 20.48 LPA
Also Read: CMA Direct Entry Eligibility 2024: Criteria, Documents Required

Accountant

One more career options after CMA in 2024 is of accountant. An accountant keeps track of the revenue, expenses, and tax obligations of a business or individual by reviewing and analyzing financial records. 

The key responsibilities of a accountant are:

• Gathers, monitors, and adjusts company financial data to assist businesses in making important financial decisions
• They are in charge of bank statement reconciliation
• Financial audits
• Ensure all financial records are accurate all year long
• Providing firms with tax, audit, consulting, and accounting services

Average annual salary: 3.08 LPA

Cost Accountant

Students who have pursued a CMA course can become a cost accountant which is a popular career options after CMA in 2024. An expert in finance, a cost accountant looks into a company's cost of production—that is, the amount of money needed to produce goods or render services. 

The key responsibilities of a cost accountant are:

• Establishing labor and material cost benchmarks
• Creating and putting into use cost accounting systems
• Examining production costs and suggesting adjustments
• Directing the yearly physical inventory
• Recruiting, educating, and managing personnel in cost and inventory accounting

Average annual salary: 7 LPA
Also Read: CMA Rank List 2024: Merit List, Passing Percentage, Process to Check

CMA Eligibility Criteria 2024

Students thinking to pursue CMA course must meet the eligibility criteria to get admission in the CMA colleges. If you are wondering for the career options after CMA in 2024 then, refer to the article above. Let us have a look at the CMA eligibility criteria 2024.

• Candidates must have completed their 10+2 with a minimum of 50% aggregate marks in commerce from any recognized board of education in order to be eligible for the CMA program in India. 
• Students pursuing the course must have passed the standard entrance examination with a good grade from any institute in addition to meeting the basic eligibility requirements for CMA.
• As the CMA course has a minimum age requirement of 17, applicants may submit their applications as soon as they reach that age.

Also Read: CFA Vs CMA: Jobs, Scope, Salary, Eligibility, Benefits

CMA Entrance Exams 2024

Students must pass multiple entrance exams in order to enroll in the CMA program and get into one of the career options after CMA in 2024. To be admitted to CMA programs, applicants must both have good merit scores from their 10+2 classes and be appear for the entrance exams. Some of the top and most important CMA entrance exams 2024 are as follows:

• CMA Exam
• ICWAI CMA

Also Read: How to Become a CMA? Career, Role, Exam, Jobs & Salary

Top Colleges for CMA 2024

There are numerous prestigious institutions in India that provide ICWAI CMA courses. Students interested in learning about cost and financial accounting can enroll in a CMA degree programme offered by reputable CMA institutes in India and overseas. Tabulated below are a few of India's top CMA colleges and students must also check out the career options after CMA in 2024 by referring to the article above.

Also Read: CMA Vs CA: Eligibility, Syllabus, Job Scope, Top Colleges