PLACEMENT OPPORTUNITY AFTER COMPLETING CMA
The degree in Cost and Works Accounting (CWA), now known as Cost Management Accounting (CMA), is obtained from the Institute of Cost Accountants of India (ICAI). The course, divided into three parts, trains a candidate to manage, analyze and collect the financial information of any area within the company and the Placement opportunities after completing CMA.
ICAI is the institute responsible for the management, regulation and control over the CMA degree that is awarded to cost accountants. The degree of CMA is tough to crack in general and all the part of examination conduction, regulations, training as well as the supply of study materials to the students to appear for the three-part exam of the CMA degree is arranged by the institute in exchange of some fees.
Cost Management Accountant Placement Statistics
A Cost and Works Accountant of any company is involved in all practices regarding the type resources, operations and the materials used by the company to be financially effective or not. They are the ones who would decide whether the costing for certain projects or production of the company will or will not impact the finances of the organisation positively. The various types of skills a CMA employs help the senior management to make decisions regarding the finances of the company. The CMA degree is valid only if the person has earned any other bachelor degree in finance or accounting along with it. The basic computing skills are also essential along with a CMA degree.
Average Salaries Offered to Cost Management Accountant Based on Skills
Some of the top annual salary-earning skills in CMA in India as well as all over the world are:
Chief Financial Officer (CFO): This is one of the top-earning positions a CMA can acquire. A CFO can earn an average salary of approximately Rs 40 lakh per annum.
Finance Controller: This post takes the second spot with an average salary of Rs 20 lakh per annum.
Finance Manager: This position can get you an average annual salary of Rs 10 lakh per annum.
Assistant Finance Manager: They can earn an average salary of over Rs 7.2 lakh per annum.
Financial Analyst: One of the jobs offered to beginners can fetch an average annual salary of Rs 5.24 lakh.
Cost Accountant: A job for freshers can fetch an average annual salary of Rs 4.94 lakh.
Average Annual Salary of CMA
Those studying the CMA course know the difficulty levels of clearing the exam. Each candidate is given a maximum of three attempts to clear the CMA exams. However, the attempt in which a candidate clears the exam determines the average salary they may fetch. For instance, those who clear the exam in the first attempt can get a better salary when compared with those who clear the exam in the second or the third attempt. Some of the average salaries of the freshers based on the number of attempts taken to clear the exam are:
- Freshers, who clear the CMA exam in the first attempt, can get a starting salary of Rs 7 lakh per annum on an average. These numbers can go as high as Rs 20 lakh, too.
- Those who clear the CMA exam in the second attempt can start off with an average annual package of Rs. 3-4 lakh.
If you are looking for the best CMA coaching and placement opportunities after completing CMA you came the right place, We Bharadwaj Institute provides the best services.