At the beginning of each new year, the Institute of Management Accountants (IMA) puts together an annual report for the previous year.
In these reports the IMA discusses everything from CMA growth to updates in innovation and programs.
By far the biggest takeaway from the 2015 report was that the CMA is thriving and as their CEO Jeffrey Thomson so aptly put it, “IMA’s fiscal 2015 story is one of strength and empowerment.”
By all accounts, now is the time to become a CMA and here are a few more reasons why:
Continued Growth Despite Economy
Regardless of the still shaky economy, the CMA experience record growth in many areas, including marketplace consolidation and commoditization. Despite high competition for job availability, more and more CMA candidates were coming out on top.
A More Recognized Credential
Up until recently the CPA designation was the most commonly known and respected certification for accountants. In terms of history, the CMA is quite new. Regardless, the CMA designation has been pushing the envelope, furthering its global reach and becoming known as the world’s leading management credential.
Simply put, more and more students are choosing to earn their CMA.
How many more you ask?
In 2015, 3500 new candidates earned their certification. This is a 17% increase over the number of candidates from 2014. Greater than this was the 19% growth rate in overall CMA candidates (ie. those registered to take the exam, but who have not completed it yet).
In terms of global reach, the IMA is now represented in 138 countries around the world, including 300 professional and student chapters. In fact, there are 8 new chapters in India alone, which shows just how popular the CMA is in the Middle East.
One of the ways the CMA has been able to expand its reach is by forming strategic partnerships or alliances with organizations. Some of these organizations include the IRS, SEC, PCAOB, FASB and IASB.
With these alliances, the CMA gets the opportunity to have a voice on topics that matter, such as financial reporting standards and small business issues.
As the finance and accounting arena continues to grow, so will the need for more CMAs and for more ethical and capable professionals. As a candidate, you have the chance to be a part of this.
Now more than ever, is the best time to join our ranks and earn your CMA designation (if you need a few more reasons why, click here!)
For help crushing the CMA exam on the very first try, click here and turn your dream into a reality.
As always, thanks for reading.