## Step 1: Enroll for the CMA Course
The first step to becoming a CMA is to enroll for the CMA course offered by ICMAI. The course consists of three levels: Foundation, Intermediate and Final. You can enroll for the Foundation level after passing Class 10 or equivalent examination. You can enroll for the Intermediate level after passing Class 12 or equivalent examination or after completing Foundation level. You can enroll for the Final level after completing Intermediate level.
You can apply for online admission through the official website of ICMAI . The admission process involves filling up an online application form, paying an application fee and uploading relevant documents. You will also have to choose an oral coaching centre where you will attend classes and prepare for exams.
## Step 2: Clear All Levels of Exams
The next step is to clear all levels of exams conducted by ICMAI twice a year (in June and December). The exams are based on multiple choice questions (MCQs) and descriptive questions covering various topics related to cost and management accounting, finance, taxation, law, economics etc.
You will have to appear for four papers each at Foundation level (total 400 marks), eight papers each at Intermediate level (total 800 marks) and eight papers each at Final level (total 800 marks). You will have to score at least 40% marks in each paper and 50% marks in aggregate to pass each level .
You can download the syllabus, study materials, mock test papers etc. from the official website of ICMAI . You can also access e-learning resources such as webinar classes, e-class library etc. through your student portal .
## Step 3: Complete Practical Training
Another important step is to complete practical training as prescribed by ICCAI. Practical training is mandatory for all students who wish to become CMAs. It aims to provide exposure to real-life situations and enhance your skills and competencies as a professional accountant.
You will have to undergo practical training for three years under a practicing cost accountant or under an organisation approved by ICCAI . You will have to submit quarterly reports on your training activities along with feedback from your trainer.
You can apply for practical training exemption if you have relevant work experience or qualifications such as CA/CS/CWA/MBA/LLB etc . However, you will still have to complete at least six months of practical training before appearing for Final exams.
## Step 4: Apply for Membership
Once you have cleared all levels of exams and completed practical training, you are eligible to apply for membership of ICCAI. Membership is essential for using the designation 'CMA' after your name and practicing as a cost accountant.
You will have to fill up an online membership application form through your student portal . You will also have to pay a membership fee along with entrance fee depending on your age group . You will also have
to submit copies of your certificates such as degree certificate, final mark sheet etc.
After verification of your documents by ICCAI officials, you will be granted membership subject to approval by Central Council. You will receive your membership number along with identity card which you can use as proof of your professional status.
## Step 5: Explore Career Opportunities
The final step is to explore various career opportunities available for CMAs both in India and abroad. As a CMA, you can work in diverse sectors such as manufacturing, service, banking, insurance, education, healthcare, government.
How much salary can you expect as a CMA from ICMAI?
The salary of a CMA from ICMAI depends on various factors such as your experience, qualification, location, industry, role and performance. According to PayScale, the average salary for a CMA in India is ₹6 lakhs per annum (₹50k per month), while the highest salary can go up to ₹22 lakhs per annum (₹1.83 lakhs per month). According to Glassdoor, the average salary for a CMA globally is $72k per annum ($6k per month), while the highest salary can go up to $125k per annum ($10.4k per month). According to Hock International , the average salary for a CMA in the US is $105k per annum ($8.75k per month), which is roughly $30k higher than the average salary for a CPA.
Some of the common job titles and salaries for CMAs are:
- Financial Analyst: ₹5.45 lakhs per annum ($72k per annum)
- Finance Manager: ₹11.22 lakhs per annum ($93k per annum)
- Chief Financial Officer (CFO): ₹36.63 lakhs per annum ($242k per annum)
- Accountant: ₹3.08 lakhs per annum ($41k per annum)
- Senior Financial Analyst: ₹7.73 lakhs per annum ($102k per annum)
- Senior Finance Manager: ₹20.48 lakhs per annum ($170k per annum) [^^15^^]
- Cost Accountant: ₹6.92 lakhs per annum ($91k per annum)
Why pursue international jobs after CMA from ICMAI?
There are several reasons why one might want to pursue international jobs after CMA from ICMAI. Some of them are:
- To gain global exposure and experience different cultures and work environments
- To enhance one's career prospects and earning potential
- To learn new skills and best practices from other countries
- To expand one's network and professional contacts
- To fulfill one's personal or family aspirations
## Which countries offer international jobs for CMAs from ICMAI?
There is no definitive answer to this question as different countries have different requirements for hiring foreign professionals. However, some of the factors that might influence one's chances of getting an international job are:
- The recognition of CMA qualification by the host country or employer
- The demand for cost and management accounting skills in the host country or industry
- The availability of work visas or permits for foreign professionals
- The language proficiency and cultural adaptability of the candidate
Based on these factors, some of the countries that might offer international jobs for CMAs from ICMAI are:
### United States
The United States is one of the largest economies in the world with a diverse range of industries that require cost and management accounting skills. According to Indeed.com, there were over 10 thousand job openings for CMAs in the US as of March 2023.
However, getting a job in the US as a foreign professional is not easy as one has to obtain a work visa such as H1-B or L1 which have limited quotas and strict eligibility criteria. Moreover, one has to compete with local candidates who might have an edge over foreign candidates due to their familiarity with US GAAP (Generally Accepted Accounting Principles) or other regulations.
One way to increase one's chances of getting a job in the US is to pursue further education such as MBA or CPA (Certified Public Accountant) which are widely recognized by US employers. Another way is to gain some work experience in India with a multinational company that has operations in the US which might facilitate internal transfers or referrals.
### United Kingdom
The United Kingdom is another major economy that offers ample opportunities for CMAs from ICMAI. According to Indeed.co.uk, there were over 2 thousand job openings for CMAs in the UK as of March 2023.
The UK has a more flexible immigration system than the US which allows foreign professionals to apply for various types of work visas such as Tier 2 General Visa or Tier 5 Youth Mobility Visa depending on their qualifications,
experience and age. However, one still has to meet certain requirements such as English language proficiency,
sponsorship by an employer or endorsement by a recognized body.
One way to increase one's chances of getting a job in the UK is to obtain membership with CIMA (Chartered Institute
of Management Accountants) which is equivalent to CMA from ICMAI under a mutual recognition agreement. Another way is
to gain some work experience in India with a British company that has operations in the UK which might facilitate internal transfers or referrals.
### Australia
Australia is another attractive destination for CMAs from ICMAI due to its high standard of living,
stable economy and multicultural society. According to Indeed.com
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