CMA is for management accounting and corporate finance; CPA is for public accounting and audit; CFA is for investment analysis. Choose by the role you want.

How long does the CMA take?

Many candidates complete both parts within a year, which is faster than the CPA or CFA, though it still requires a degree and two years of experience.

Is the CMA recognised internationally?

Yes. It is US-originated but globally recognised, and it is particularly popular in corporate finance roles in several regions.

For management-accounting and corporate-finance careers, yes - it focuses on the analysis and decision-support work those roles need. Public-accounting careers are better served by the CPA.

Can I self-study for the CMA?

Yes, typically with a review provider's materials alongside IMA's resources, across the two parts. Plan for roughly 150-170 hours per part.

What jobs can the CMA help me get?

Management accountant, financial analyst, finance manager and controller roles, particularly in corporate (rather than public-accounting) settings.

How much does the CMA cost in total?

Roughly US$460 per part across two parts, plus a one-time CMA entrance fee and required IMA membership maintained annually.

Finance & Accounting

CMA (IMA)

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Certified Management Accountant

By The Exam Atlas Editorial Team · Verified 2026-05-29

Free CMA practice questions 83 questions with full answer explanations. No sign-up. Start practice →

Overview

The CMA (Certified Management Accountant) from IMA focuses on management accounting and corporate finance: planning, analysis, control, decision support and financial strategy inside a business. It is aimed at people in corporate finance rather than public accounting or investment analysis.

It is a two-part exam that combines multiple-choice questions with essays, and it can be completed relatively quickly compared with the CPA or CFA, while still requiring a degree and two years of relevant experience.

✓ Who it is for

Management accountants and FP&A analysts who do budgeting, forecasting and performance analysis
Finance business partners who support operational and strategic decisions inside a company
Accountants in industry aiming for controller or finance-manager roles rather than public audit
Career changers who want a focused corporate-finance credential faster than the CPA or CFA
Holders of a bachelor's degree who can meet the two years of relevant experience within seven years of passing

✕ Who it is not for

Public-accounting or audit careers - CPA fits better.
Investment-management aspirants - consider CFA.
Those wanting a single exam - CMA is two parts plus IMA membership.

Exam structure

Part 1 - Financial Planning, Performance and Analytics	Planning, budgeting, performance, cost management, analytics
Part 2 - Strategic Financial Management	Financial statement analysis, corporate finance, decision analysis, risk

Realistic study time

Per part ~150-170 hours each
Both parts 300+ hours, often 12-18 months

Bars show relative effort, not a guarantee. Your time depends on background and study method.

Turn this into a week-by-week schedule with the Study Plan Generator.

What it really costs

Exam fee ~US$460 per part two parts

IMA membership Annual fee, required

CMA entrance fee One-time

Renewal CPE plus membership

Fees change and vary by region. Confirm the current amount on the official site before you register.

Want your full out-of-pocket figure? Try the Cost Calculator.

Salary & career value

Indicative ranges for orientation only - not surveyed data, and not financial or career advice. Sources and date below.

CMAs in the US commonly report median base salaries around ~$110k-125k, with total compensation including bonus commonly reaching ~$130k-140k per the IMA compensation survey. Indicative and rising with seniority.

Pass rate: Roughly 50% for each part, per IMA's published approximate figure. IMA no longer releases detailed per-part or per-region rates.

Staff / Cost Accountant ~$60k-80k base

Management Accountant ~$75k-100k base

Senior Financial Analyst ~$90k-115k base

Finance Manager / Controller ~$115k-150k base

Director of Finance ~$140k-180k base

Indicative annual pay (USD), each role's typical band on a shared scale.

Other markets (indicative)

United Kingdom	~£40k-70k
Canada	~CA$70k-110k
Germany	~€55k-85k

Jobs that often ask for it:

Management Accountant
Cost Accountant
Financial Analyst
Finance Manager
Controller

Is it worth it?

Worth it if your career is in corporate finance or management accounting (FP&A, business partnering, controlling), where it is focused on decision support and faster to complete than the CPA or CFA. IMA's own Global Salary Survey reports CMAs earning meaningfully more in total compensation than non-certified peers, though those are member-survey figures, not independent data. Skip it if you are headed for public accounting and audit (where the CPA is the licence that matters) or investment analysis (CFA), or if you cannot meet the degree and two-year experience requirement.

Not sure this is the right exam for you? Compare your options with the Exam Finder.

Our specialty · side by side

Compare CMA with other exams

Independent, like-for-like comparisons to help you choose the right one.

VS CMA vs CPA: which accounting credential should you choose? Compare →

Where it leads

Career paths featuring CMA

How to become a qualified accountant: CPA, ACCA or CMA View path →

What to do next

CMA targets management accounting and corporate finance. Compare with CPA (public accounting) or CFA (investments) to confirm fit.

On exam day

At Prometric centres in three testing windows a year; each part is 4 hours (100 multiple-choice questions plus two essay scenarios).

Keeping your certification

Maintained through IMA: 30 CPE hours per year (including 2 hours of ethics) plus active IMA membership.

FAQ

CMA, CPA or CFA?: CMA is for management accounting and corporate finance; CPA is for public accounting and audit; CFA is for investment analysis. Choose by the role you want.
How long does the CMA take?: Many candidates complete both parts within a year, which is faster than the CPA or CFA, though it still requires a degree and two years of experience.
Is the CMA recognised internationally?: Yes. It is US-originated but globally recognised, and it is particularly popular in corporate finance roles in several regions.
Is the CMA worth it?: For management-accounting and corporate-finance careers, yes - it focuses on the analysis and decision-support work those roles need. Public-accounting careers are better served by the CPA.
Can I self-study for the CMA?: Yes, typically with a review provider's materials alongside IMA's resources, across the two parts. Plan for roughly 150-170 hours per part.
What jobs can the CMA help me get?: Management accountant, financial analyst, finance manager and controller roles, particularly in corporate (rather than public-accounting) settings.
How much does the CMA cost in total?: Roughly US$460 per part across two parts, plus a one-time CMA entrance fee and required IMA membership maintained annually.