How the CMA Certification Works and Who Should Earn It in 2027

The CMA credential comes from IMA. To earn it, you’ll need a bachelor’s degree or a related professional certification, two years of management accounting or financial management experience, two exam parts and active IMA membership. It fits accountants who work inside companies better than those in public accounting firms.

What Is the CMA Certification?

The CMA is for accountants who do the inside work of a business: budgeting, cost analysis, forecasting and performance reporting. It comes from IMA, the same group that runs the exam, and you have to be an active IMA member to earn it. IMA states that “Only active IMA members are eligible to earn the CMA.”

Think of it as a badge from your profession rather than a government permit. No state board of accountancy issues it, and it doesn’t let you sign audit opinions. If that’s the work you want, read about the certified public accountant (CPA) exam instead.

The CMA is a good match if you plan to stay in industry accounting, such as cost accounting, financial planning or a path toward controller.

What Are the CMA Requirements?

IMA lists four pieces:

• Education: a bachelor’s degree from an accredited college or university, or a related professional certification.
• Experience: two continuous years of professional experience in management accounting or financial management.
• Exam: Parts 1 and 2 of the CMA exam, in any order.
• Membership: active IMA membership.

The experience can come before or after the exam. IMA says you can finish it before the exam or within seven years of passing it.

The clock rules are easy to miss. You’ve got three years to pass both exam parts, and seven years after you enroll to finish the education and experience requirements. Testing windows run January and February, May and June, and September and October, so you can plan your study blocks around them.

How Does an Accounting Degree Fit In?

An accredited bachelor’s degree meets the education requirement, and it doesn’t have to be in accounting. But an accounting degree covers a lot of what a management accountant needs, and some schools say so directly.

Of the 150 programs on our main bachelor’s and master’s rankings, 30 say on their own pages that they prepare students for the CMA. They include bachelor’s and master’s programs. For example, Colorado State University Global’s bachelor’s in accounting names the CMA and the Enrolled Agent. Southern Utah University’s Master of Accountancy names the CPA, CMA and Certified Fraud Examiner credentials.

Think of that as a school describing its curriculum, not IMA approving it. IMA sets the requirements, so confirm them on its page before you lean on a program’s wording.

To see programs with CPA language, which often name the CMA too, use our list of accounting degrees for CPA candidates. You can also browse the full bachelor’s list.

What Does the CMA Cost and Take to Keep?

Exam and membership fees come from IMA, not your school, and they’re separate from tuition. Ask IMA for the current fee schedule before you budget.

Once you’re certified, IMA says holders report 30 hours of continuing professional education (CPE) every year, and at least two of those hours must be in ethics. That’s a real, recurring commitment, and it comes with membership upkeep.

If you pay for your own education, plan for those hours in your first year after you pass. Some employers cover part of the cost, so ask yours.

Where Does a Management Accountant Career Lead?

The Bureau of Labor Statistics (BLS) says management accountants often start as cost accountants, junior internal auditors or trainees. They may move up to controller or chief financial officer (CFO).

BLS also says certification gives you an advantage in the job market because it shows professional competence in a specialized field. It doesn’t break out the CMA specifically.

On pay, BLS reported a May 2025 median wage of $83,680 for accountants and auditors. That’s the whole occupation, not the CMA alone.

If you’re curious how far the path can go, financial managers sit higher on the ladder. BLS puts their median wage at $166,570. It also says they usually have five years or more of experience in another business or financial job, such as accountant or financial analyst. Controllers and CFOs fall in that group.

How Is the CMA Different From the CPA?

The two credentials answer different questions. The CPA is about the public. A state board licenses you, and the license lets you serve clients who need outside assurance on financial statements. BLS says any accountant who files a report with the Securities and Exchange Commission must be a licensed CPA.

The CMA is about the business itself. It points at the day-to-day work of managing money inside a company: setting budgets, tracking costs and helping managers decide.

The rules differ too. The CPA runs through state boards, and each one sets its own education, experience and residency rules. The CMA runs through one organization, IMA, with one set of requirements for everyone. That makes the CMA easier to plan for, even though the exam still takes serious study.

What Should You Ask Before You Start?

A few quick questions can save you from a false start.

• Is my degree from an accredited college or university? If not, IMA’s other route is a related professional certification.
• Does my current job count as management accounting or financial management experience?
• Will my employer pay for membership, exam fees or study materials?
• Which testing window fits my schedule, and when will I enroll?

Answer these early and you’ll save yourself months of guessing. The experience question matters most, because IMA wants two continuous years in management accounting or financial management. If your job title doesn’t match that wording, ask IMA directly.

What Are the Downsides?

The first is time, and it adds up. Between exam prep, experience and membership, the CMA is a multi-year project, not a weekend course.

The second is fit. If you want to work in public accounting or sign audit reports, the CMA won’t get you there. The CPA license will.

The third is cost. You pay IMA for membership, exam fees and yearly continuing education, on top of any degree you earn first. Some employers reimburse part of it, but that varies, so ask.

Finally, the CMA doesn’t replace a degree. IMA wants a bachelor’s degree or a related professional certification. If you don’t have either, start with the degree.

How Should You Decide?

Picture the job you want in five years, because that’s the easiest way to choose. If it’s controller, cost accountant or financial planning inside a company, the CMA points straight at it. If it’s audit, tax or a big public accounting firm, a CPA license fits better.

You can hold both. Plenty of accountants earn the CPA first and add the CMA later when they move into industry roles.

Still choosing a degree? Compare programs on price, credits and verified business accreditation. Our master’s list is a good place to look if you already have a bachelor’s degree. If you’re just starting out, read about entry-level accounting jobs to see where a first position can come from.