As you can imagine, earning money as an accountant is not all that easy, so it would be a wise decision to have a little bit more on hand when you start your job search. One thing you can do is earn some extra money as an account manager by doing payroll duties for a larger firm. While this will put you a step above the basic accountants’ salary line, it is not quite a cut above the salary of the average CMA. So, when you are approaching firms to do the hiring, make sure they know that you will be compensated with other forms of compensation besides what is earned through your CMA certification.
Another option would be to seek out another certification, such as the Certified Management Accountant or (CMA). Unlike the CMA, this credential is granted by another organization and it carries much greater weight in the employment market. Not only does the CMA allow you to have another degree, but employers will also look at your experience when considering hiring. Someone with a CMA certification is a safer bet for a future in the accounting field than someone who has just gained their certification, because they already have the upper hand on their competition.
There are many different certifications available in the CMA market. The most commonly known ones are the CMA designation and the CMA award. Many companies will require a minimum of MAs and A grades in order to be considered for certification. However, some corporations will accept an individual with either only a MAs or an A. This is why it is important to research your specific area of accounting and the requirements of your potential employers.
There are many benefits associated with becoming a certified management accountant. The most obvious is that you are able to gain access to high-end positions that otherwise would be limited to those in the financial accounting field only. A few companies even have their own specialized job boards that post Certified Management Accountant openings. These companies can sometimes be a great place to find employment opportunities. On the other hand, you may not always want to work for a specific company, so researching job boards will put you in touch with other professionals.
A certified management accountant career can be rewarding both financially and professionally. If you are planning on entering the corporate world after obtaining your MBA, then financial planning and risk management courses are an excellent fit. This means that you can begin your career as a risk manager in a variety of financial planning and risk management positions. As you gain experience in this area you may be able to progress into a leadership role and implement various changes to the company’s risk management procedures. This then opens the doors to more lucrative positions within the company.
It is also possible to obtain certification as a certified management accountant by specializing in a specific aspect of the profession. For example, there are several certification programs available for tax preparation. Individuals may choose to obtain certification in preparation of taxes by focusing on either the individual financial situation of the business, or in preparation of a federal tax return. Dual certification, which includes certification in both fields, can also open the doors to positions in government and academia.
Many individuals are concerned about what the cost of certification will be. While the initial cost can be high, most programs require little to no out-of-pocket cash. In most cases, the cost of review courses will be less than the price of the exam itself. This allows students to receive the education they need while paying only the costs they can afford. Whether you plan to work in the business world after obtaining your MBA or you simply want to enhance your professional standing with an additional Masters degree, completing a Certified Management Accountant Certification Exam is an excellent investment in your future.