The Institute of Management Accountants (IMA) conducts the US Certified Management Accountant (CMA) certification exam for candidates interested in having a bright career in Finance and Accounting. The US CMA is an internationally accredited certification that tests an individual’s reliability through knowledge and skill in financial planning, analysis, control, and decision-making. Currently, there are more than 1,00,000 certified US CMA candidates around the world. The CMA USA has different fees for registration, study materials, and examination, and proper planning is necessary before beginning your CMA journey. Read more to learn about the fee levels of the CMA course for all three levels and other associated costs with taking on the program.
US CMA Course Fees
The course fee for the US CMA is different between professionals and students. Students are defined as individuals who are studying full-time at a graduate or postgraduate level. If not, candidates will be placed automatically into the professional category, which encompasses working (or self-employed) persons and those taking a postgraduate degree by distance learning. If a candidate falls under the student category, then there will be reduced fees applicable to him compared to the professional category.
US CMA Fees For Students
The CMA certification offers students a cost-effective pathway to advance their careers in management accounting. Below is the revised fee structure applicable to students, effective October 1, 2023.
| CMA USA Revised Fee Structure for Student Category | Current Price ($) | Price Beginning October 1, 2023 ($) |
|---|---|---|
| CMA Entrance Fee (non-refundable) | $210 | $225 |
| CMA Exam Fee | $345 per part | $370 per part |
| Student Membership | $45 | $49 |
| Academic Membership | $135 | $160 |
US CMA Fees For Professionals
The CMA program demands payment of fees from professionals, such as entrance, exam, and membership fees. The updated fee structure, as presented below, applies to October 1, 2023.
| For Professionals | Current Price ($) | Price Beginning October 1, 2023 ($) |
|---|---|---|
| CMA Entrance Fee (non-refundable) | $280 | $300 |
| CMA Exam Fee | $460 per part | $495 per part |
| Membership | $260 | $295 |
US CMA Exam Fees in India
Obtaining a certification in CMA US can be the most wonderful way for a new career and all the new opportunities worldwide to outshine your current career. The earning opportunity is higher in people chasing CMA US than in those who don’t prefer this as their profession. It demands high investment, but the result is the best return on investment. There are several measures to maintain its cost if one is prepared to invest in CMA USA in India.
US CMA Membership Fees
The first expense you will likely incur when you apply for the Certified Management Accountant (CMA) program is the membership fee. This fee comprises the entrance fee and the annual membership dues paid to the Institute of Management Accountants (IMA), which administers the CMA program.
Membership Fees for Professionals
For professionals, the membership fee is $295 plus GST. In Indian Rupees (INR), this translates to approximately ₹24,629.21 plus GST (depending on the fluctuations in the exchange rate). The membership fee provides professionals access to IMA resources, networking opportunities, and eligibility to appear for the CMA exams.
Membership Fees for Students
The membership fee is relatively low for students who would like to achieve the US CMA certification. The CMA USA fee for a student is $147 plus GST or about ₹12,272.78 plus GST. This relatively lower fee is designed to help students make the most of the education and professional development IMA offers as they pursue their certification.
A critical element of the CMA process is the membership fee, where a candidate needs to remain active and maintain the IMA status throughout the CMA journey by providing access to useful study material, industry knowledge, and worldwide professional networks.
CMA Entrance Fees
The CMA candidate must pay a one-time entrance fee before he can sit for the Certified Management Accountant exam at the Institute of Management Accountants. This CMA entrance fee is the formal cost of the entrance fee into the CMA program and the step that launches one into his certification journey.
The entrance fee provides candidates full access to the entire CMA program and all its exclusive resources. This includes:
- The CMA exam package details the structure and format of the exam.
- Access to official online study materials that help candidates prepare effectively.
- Membership benefits within the IMA’s global professional network, connecting candidates with industry experts, mentors, and peers.
- Additional support resources, including exam guides, webinars, and research tools to assist candidates throughout their CMA journey.
CMA Entrance Fee for Professionals
For practicing professionals seeking to obtain the CMA designation, the entry fee is $300 plus GST, which is approximately ₹25,045.66 plus GST, subject to the currency rate fluctuation. The payment ensures that professionals acquire all the resources from programs to prepare for exams and enhance their careers.
CMA Entrance Fee for Students
It offers students a reduced entrance fee to access the CMA program easily. The CMA entrance fee for students is $225 plus GST, which amounts to approximately ₹18,784.25 plus GST. The discount allows the student to make the most of the IMA resources while preparing for certification at a much lower cost.
Paying the CMA entrance fee is important for all candidates because it allows them to register for the exam and opens up a wealth of learning materials and networking opportunities. It is an investment toward a globally recognized professional qualification that enhances career prospects in management accounting and financial analysis.
US CMA Exam Fees
After paying the CMA entrance fees, candidates must prepare for the Certified Management Accountant (CMA) exam. The CMA exam is divided into two parts, and candidates must pass both sections to obtain certification. Understanding the CMA exam pattern and structure before delving into the exam fees is essential.
CMA Exam Pattern
The CMA exam consists of two parts, each focusing on different areas of management accounting and financial management. Candidates can take these parts in any order but must pass both to achieve the CMA certification.
| CMA Exam Part | Focus Areas | Number of Questions | Time Allocation |
|---|---|---|---|
| Part 1: Financial Planning, Performance, and Analytics | Cost management, budgeting, forecasting, and performance analysis | 100 MCQs + 2 essay questions | 3 hours for MCQs + 1 hour for essays (Total: 4 hours) |
| Part 2: Strategic Financial Management | Corporate finance, risk management, decision analysis, and investment decisions | 100 MCQs + 2 essay questions | 3 hours for MCQs + 1 hour for essays (Total: 4 hours) |
CMA Exam Fees for Professionals
For applicants in the professional category, there is an examination fee for each part at $495 plus GST, translating to about ₹41,325.35 plus GST per examination part. Since there are two parts of the CMA examination, the overall exam fee for students who fall under this category, without GST, is $990, or ₹82,650.70 plus GST.
CMA Exam Fees for Students
Students receive an early certification discount on CMA exam fees. Each part of the exam for students carries a fee of $370 plus GST, which amounts to ₹30,889.45 plus GST for each part. The overall exam fee for students amounts to $740, that is, both parts at a cost of ₹61,778.90 plus GST.
CMA Course Fees FAQs
What is the total cost of the US CMA course?
The CMA USA course fees vary depending on whether you’re a student or a professional, typically ranging from USD 1,000 to USD 2,500, including exam and membership fees.
Is CMA USA better than CA?
CMA deals with financial planning, performance, and analysis, whereas CA deals with taxation, business law, etc. CMA is an advanced course that is more practical and deals with applying knowledge in the business field.
Are study materials included in the CMA registration fees?
Yes, study materials are included in the registration fees for all three levels of the CMA course.
Is coaching mandatory for the CMA course?
No, coaching is optional. Students may choose to enroll in coaching classes such as Plutus Education if they need additional support.
Are there any additional costs after completing the CMA course?
After passing the Final level, students must pay membership fees (around 12000-24000) to maintain their certification with IMA.
