Written by

Tara Farmer

February 16, 2026

Edited by

Kristen Cramer

How to become a Certified Management Accountant

If you're an accounting or finance professional looking to advance your career, becoming a Certified Management Accountant (CMA) could be your next strategic move. This globally recognized credential opens doors to leadership roles, significantly boosts earning potential, and positions you as a strategic business partner.

In this guide, you'll discover everything you need to know about how to become a Certified Management Accountant, from understanding what CMAs do to navigating the certification process step by step.

What is a Certified Management Accountant?

A Certified Management Accountant is a finance professional who has earned the prestigious CMA credential from the Institute of Management Accountants. Unlike traditional accountants who focus primarily on historical financial data, CMAs specialize in forward-looking financial management and strategic decision-making.

The CMA certification is recognized in over 150 countries, with more than 100,000 professionals certified worldwide. It demonstrates expertise in areas like financial planning, analysis, performance management, and strategic business leadership.

What do Certified Management Accountants do?

CMAs are essential players in a business's success, applying their expertise to a variety of critical functions.

• Financial planning and analysis: Developing budgets, forecasts, and performance evaluations

• Risk management: Identifying and assessing financial risks that impact the organization

• Strategic business decisions: Providing analytical support for decisions such as investments, mergers, and capital planning

• Cost management: Analyzing and managing costs to improve efficiency and profitability

You'll find CMAs across nearly every industry — healthcare, tech, manufacturing, government, and more. Common job titles include financial analyst, cost manager, budget analyst, controller, finance manager, and finance director. Many CMAs advance into senior leadership roles over time as they build experience.

Benefits of CMA certification

Earning the CMA credential offers significant advantages for your career and professional standing:

• Higher earning potential: CMAs consistently report higher salaries than non-certified peers.

• Global opportunities: The certification is recognized worldwide and enhances your credibility on a global scale.

• Career advancement: The CMA credential can qualify you for top roles like Financial Controller, Director of Finance, or even Chief Financial Officer (CFO).

• Strategic expertise: It validates your knowledge in advanced areas like decision analysis, strategic management, and professional ethics.

How to get CMA certified in 7 steps

The process to become a CMA is rigorous but rewarding. You must meet specific educational, experience, and examination requirements set by the Institute of Management Accountants (IMA) and its certification body, the ICMA.

Step 1: Meet the education requirement

To receive your CMA certification, you need a bachelor's degree from a recognized university or college. Your degree doesn't need to be specifically in accounting, though accounting and finance majors have a natural advantage.

Alternatively, you can qualify with certain professional certifications approved by the IMA, such as the CPA, CA, or ACCA. If your degree is from an international or non-accredited institution, you'll need to have it evaluated by an approved credential evaluation service.

Step 2: Join the IMA

Membership in the Institute of Management Accountants is mandatory before you can register for the CMA exam. The IMA offers three membership categories with different fees:

• Professional membership: $295

• Academic membership: $160

• Student membership: $49

Your membership provides access to valuable resources, networking opportunities, professional development tools, and study materials.

Step 3: Enroll in the CMA program

After joining the IMA, you'll pay a one-time entrance fee to enroll in the CMA certification program.

• $300 for professional members

• $225 for student and academic members

You have three years from the date of entry to finish all sections of the test. It also includes access to the CMA Exam Support package with practice questions, performance feedback reports, and other study resources.

Step 4: Register and prepare for the exam

The CMA exam is split into two parts, which you can take in any order. Each part is four hours long and consists of 100 multiple-choice questions (3 hours) and two 30-minute essay questions (1 hour).

• The exam fee is $545 per part for professional members and $407 per part for academic and student members.

• Exams are available during three periods throughout the year: January-February, May-June, and September-October.

• You may book your exam at any Prometric testing center around the world.

The IMA recommends about 150 to 170 hours of study time for Part 1 and 130 hours for Part 2.

Part 1: Financial planning, performance, and analytics

This part focuses on your ability to apply planning, budgeting, forecasting, and internal control principles. The content areas include:

• External financial reporting decisions (15%)

• Planning, budgeting, and forecasting (20%)

• Performance management (20%)

• Cost management (15%)

• Internal controls (15%)

• Technology and analytics (15%)

Part 2: Strategic financial management

This part tests your knowledge of corporate finance, risk management, and decision-making. The content areas include:

• Financial statement analysis (20%)

• Corporate finance (20%)

• Decision analysis (25%)

• Risk management (10%)

• Investment decisions (10%)

• Professional ethics (15%)

You need a score of at least 360 out of 500 to pass the CMA exam.

Step 5: Complete the experience requirement

You must complete two years of full-time work experience in management accounting or financial management. This experience can be completed before or within seven years of passing the exam.

Qualifying experience includes positions where you apply principles of management accounting and financial management. Teaching positions also count if at least 60% of your courses relate to accounting or finance above the introductory level.

Step 6: Submit your certification requirements

After passing both exam parts and completing your experience requirement, you'll need to submit verification of your education and work experience to the IMA. The IMA will review your credentials to ensure you meet all certification requirements.

You'll submit documentation such as official transcripts showing your bachelor's degree or other approved certification to fulfill your educational requirements. You'll complete the online CMA Experience Requirement Form to verify your work credentials. Once approved, you'll officially receive your CMA certification.

Step 7: Maintain your certification

After you become a CMA, you'll need to maintain your certification by completing 30 hours of Continuing Professional Education (CPE) annually, which must include at least two hours in ethics. You also need to maintain your active IMA membership.

These requirements ensure you stay current with evolving practices in management accounting and financial management.

How much does a CMA make?

CMA salaries vary by experience, role, and location, but established U.S. CMAs generally earn six figures. Recent IMA-based data suggests an average base salary for CMAs in the low to mid $100,000s, with median base pay around $120,000 to $125,000 and median total compensation (including bonuses and incentives) in the upper $130,000s.

Entry-level CMAs in lower management roles typically start around the low $90,000s, while experienced CMAs in senior and top management can reach $150,000 to $195,000 per year or more, depending on the industry and responsibilities.

Across the U.S., CMAs consistently outearn non‑certified peers at every career level.

How long does it take to become a CMA?

Most candidates complete the CMA certification within 6 to 18 months, depending on their study schedule and preparation approach. If you study approximately 20 hours per week, you could pass Part 1 in about nine weeks and Part 2 in seven weeks.

You have three years from the date you pay your entrance fee to pass both exam parts. However, the two-year experience requirement can extend your total timeline if you haven't already fulfilled it.

FAQs about becoming a CMA

How much does it cost to become a CMA?

The total cost to become a CMA varies based on your IMA membership type and whether you invest in a third-party review course. Without a review course, CMA certification costs range from $1,088 to $1,685. The table below shows a breakdown of the costs to get CMA certified.

How hard is the CMA exam?

The CMA exam is considered very challenging, with a global pass rate of 40% to 50%. The difficulty stems from the comprehensive knowledge required across multiple financial management topics and the four-hour format that includes 100 multiple-choice questions and two essay scenarios.

However, the exam is passable with proper preparation. Passing candidates often report studying 150 to 200 hours for each part. Investing in a quality review course and dedicating sufficient study time can significantly improve your success rate.

How does the CMA compare to the CPA?

The CMA focuses on management accounting, corporate finance, and strategic internal decision-making. The CPA (Certified Public Accountant) focuses on public accounting, audit, and tax, with an emphasis on external reporting. The CMA is generally considered more practical for those in corporate finance roles.

What is the time limit to complete the CMA program?

To complete the CMA program, both exam sections must be passed within three years of enrollment. If you don't pass within that time, you'll have to re-enroll and pay the entrance fee again.

Can I take the CMA exam before I graduate?

Yes, you can sit for the exam before you graduate or fulfill the experience requirement. However, you must submit verification of your bachelor's degree and two years of experience within seven years of passing the exam.