How is a CMA different from an MBA (finance)?
MBA is University's program while CMA is statuatory program. In a way, I see the MBA and CMA quite differently: MBA is an academic degree while CMA is a professional designation. For MBA, the critical point is where you are getting the MBA from. An MBA from IIMs is quite likely better than a CMA qualification alone; but an MBA from an unknown school or “diploma mill” will be of little use. In terms of the practical question of which designation will help find a job, it is complicated because an MBA or CMA alone should not be the deciding factor. The educational and more importantly working experience count a lot too, so do the performance during the interviews. The students who have passed their twelfth class can join the foundation course of CMA. Those successfully completing the course are considered to be eligible to join intermediate course. The candidates need to pass the intermediate course in order to get admitted for final course. The job opportunities available for CMA candidates include Internal Auditor Financial Controller Finance Manager Cost Controller Accountant etc Many candidates after their ICWA course opt for self – employment. They enter into the post like Consultancy assignments, Excise Audit, Mandatory Cost Audit etc................... Having both is certainly a “win-win” strategy that works for many people, but then, either MBA or CMA require significant commitment for one to pursue. At the end of the day, the school or the designation is not what gets you the job – you are!
Dear Preetham CMA means Certified Management Accountant , which is a professional membership awarded by the Institute of Cost Accountants of India. The CMA's are Professionals in Financial Management, Financial Accounting , Cost Accounting , Management Accounting and Direct & Indirect Taxation. They can perform as Cost Auditors, Finance Heads, Heads of Indirect Taxation and Practice as a Cost Accountant. MBA means Master Degree in Business Administration awarded by a University. So their scope is less as compared with CMA's Kind Regards Vinod.P