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Jan

2023

CMA Jobs and What They Do

What Does a Certified Management Accountant Do?

Certified Management Accountants (CMAs) are responsible for providing financial insights and recommendations to organizations to help them achieve their goals. They work in a variety of industries and CMA jobs can range from accounting and auditing to consulting and financial analysis.

If you’re looking for a career that is both challenging and rewarding, then becoming a CMA may be the perfect choice.

In this post, we’ll provide an overview of what CMAs do on a day-to-day basis, discuss some of the many benefits that come with being a CMA, and take a look at some interesting CMA jobs.

A typical day as a Certified Management Accountant

What does a typical day look like for a CMA? Well, it depends on the organization they work for and their specific role within that organization. However, there are some common tasks that CMAs often perform, such as:

Conducting financial analyses to identify trends and opportunities
Preparing financial reports
Developing budgets and forecasting future financial needs
Advising management on strategic decisions

Providing tax planning and advice
Assisting with the development and implementation of internal controls
Auditing financial statements

CMAs play a vital role in helping organizations achieve their financial goals. They provide critical insights and recommendations that can make a tangible difference in an organization’s bottom line.

The benefits of being a Certified Management Accountant

CMA jobs provide many benefits, including:

High salary potential

CMAs are in strong demand and, as a result, often command high salaries. The average annual salary for American CMAs is over $100,000. And, according to the Institute of Management Accountants (IMA), CMAs can expect to earn 58% more in median total compensation than their non-certified counterparts.

CMAs have the additional advantage of being on the management track. Not only do they start out with a high salary, there’s also more opportunity for growth.

Global recognition

The CMA credential is recognized and respected around the world. This global recognition means that CMAs can pursue opportunities anywhere in the world. Whether you want to stay close to home or travel the globe, being a CMA gives you the freedom to do so.

Job satisfaction

CMAs tend to be very satisfied with their jobs. A recent survey found that 80% of CMAs were happy with their career choice. Many aspects of the job are extremely satisfying, including the variety of the work and the opportunity to use the skills and abilities they studied for.

Increased knowledge and skills

Finally, becoming a CMA provides the opportunity to learn new skills and increase your knowledge. The CMA exam covers a wide range of topics, including financial reporting, planning, budgeting, decision analysis, risk management, and control.

In order to pass the exam, CMAs must have a strong understanding of these concepts. As a result, they often emerge from the process with practiced and varied expertise that they can put to use in any job they have.

CMA jobs

Let’s take a look at some interesting Certified Management accounting career paths.

Corporate accounting

A typical path for a CMA is corporate accounting. In this role, you’ll be responsible for a variety of tasks, including preparing financial statements, managing budgets, and analyzing financial data. You’ll also be involved in strategic planning and decision-making.

Financial analysis

Another common career path for CMAs is financial analysis. If you choose this route, your days will be spent providing financial insights to decision-makers. You’ll also need to be comfortable forecasting future trends and developing financial models.

Financial management

Experienced CMAs can be senior corporate officers. Often, they’ll work as Chief Financial Officer, but there are other options available. This role leverages your financial knowledge, business acumen, and management skills.

There are many other types of jobs that CMAs can pursue. These are just a few of the most popular options. No matter what type of job you’re interested in, there’s likely a role for you as a CMA. There’s even more info on our guide to CMA salary expectations!

What does it take to become a Certified Management Accountant?

You may be wondering how to become a CMA. There are a number of requirements to meet, but the big one for most people is passing the CMA exam. The exam is administered by the ICMA and consists of two parts: Part 1 covers financial reporting, planning, budgeting, and decision analysis; Part 2 covers strategic cost management, risk management, investment decisions, and professional ethics.

When you meet all the requirements, you can officially become certified and start enjoying all the benefits that come with being a CMA, including unlocking great CMA job opportunities.

Are you ready to become a CMA? Gleim’s Review Course is the most comprehensive, effective, and affordable way to prepare for the CMA exam. Our course includes:

Personal Counselor AccessGet one-on-one help from our award-winning team of exam experts.
Textbook & Study NotesAll the study materials you need to pass the exam.
Mock Exams & QuizzesTest your knowledge and identify areas of improvement.