Icwai after mba

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Hariraj.R (Querist)
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14 January 2016 I am working in a MNC after completing Mba in finance & HR ,is there any scope of doing Icwai for boosting my carrer rightnow.

Ankur Garg

Ankur Garg (Expert)
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14 January 2016 Doing a professional course is always good for better career. However currently I am not able to see much benefit of doing CMA keeping in view your current qualification. CA would be a good option with MBA Finance.

Further if you are getting good opportunity in your current organisation after CMA qualification, then go for CMA.

Thanks

FCMA CS Pardeep Khaneja

FCMA CS Pardeep Khaneja (Expert)
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14 January 2016 In case of CA, 3 years of article-ship is compulsory, in that case you have to leave your job and join articleship under practising Chartered Accountant, but in case of CMA (ICWA), you can avail exemption from practical training on behalf of your work experience. So, If you wish to do any professional degree, CMA will be the better option while working.

Thanks

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Shashank

Shashank (Expert)
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07 February 2016 I do not see a value addition by doing CMA, if you are already an MBA.
It would just add a professional degree on your CV.

Hariraj.R

Hariraj.R (Querist)
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10 February 2016 so pls advice me which is the better course for me right now

Hariraj.R

Hariraj.R (Querist)
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10 February 2016 please advice me which is the best course for me right now

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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28 July 2024 Given your background in MBA with a focus on Finance and HR and your current position in an MNC, pursuing the ICWAI (now known as CMA or Cost and Management Accounting) can still offer significant career benefits. However, it's important to evaluate how it aligns with your career goals and interests. Here’s a detailed breakdown of how pursuing ICWAI/CMA might fit into your career trajectory and other alternatives you might consider:

### **Benefits of Pursuing ICWAI/CMA After MBA:**

1. **Enhanced Financial Expertise:**
- **Specialization:** ICWAI/CMA provides in-depth knowledge of cost and management accounting, which complements your finance background and can enhance your expertise in financial management and control.
- **Cost Management Skills:** The course covers cost control, budgeting, and performance evaluation, which can be highly beneficial in strategic decision-making roles.

2. **Career Advancement:**
- **Promotion Opportunities:** CMA certification can make you eligible for higher positions within finance and accounting departments, such as Cost Accountant, Management Accountant, or Financial Manager.
- **Diverse Roles:** The CMA designation can open doors to roles in various industries, including manufacturing, retail, and consulting, where cost management and financial analysis are crucial.

3. **Recognition and Credibility:**
- **Professional Standing:** The CMA credential is recognized globally and can enhance your professional standing and credibility within the finance and accounting profession.

4. **Increased Earning Potential:**
- **Higher Salaries:** Certified professionals often command higher salaries compared to non-certified counterparts due to their specialized knowledge and skills.

### **Alternative Courses to Consider:**

1. **Chartered Financial Analyst (CFA):**
- **Focus:** The CFA program is globally recognized and focuses on investment management, financial analysis, and portfolio management.
- **Suitability:** If you are interested in a career in investment banking, equity research, or portfolio management, CFA might be more aligned with your goals.

2. **Certified Public Accountant (CPA):**
- **Focus:** The CPA designation is ideal if you are interested in accounting, auditing, or tax-related roles.
- **Recognition:** It is highly recognized in the US and globally, and can add significant value if your MNC has international operations or you plan to work abroad.

3. **Financial Risk Manager (FRM):**
- **Focus:** The FRM certification is geared towards risk management and financial risk analysis.
- **Suitability:** If your career interests lean towards risk management or compliance roles, FRM might be a valuable addition.

4. **Project Management Professional (PMP):**
- **Focus:** The PMP certification is for professionals interested in project management.
- **Suitability:** If you are involved in project-based roles or managing financial projects, PMP can complement your existing skills.

### **Making the Decision:**

1. **Evaluate Career Goals:**
- **Interest Alignment:** Consider which areas of finance or management you are most interested in and which certifications align with your long-term career goals.
- **Career Path:** Reflect on the type of roles or industries you want to pursue and which certification or course will provide the most value.

2. **Research and Networking:**
- **Industry Trends:** Look into current industry trends and requirements to understand what certifications are highly valued.
- **Professional Advice:** Talk to mentors, industry professionals, or colleagues who have pursued similar paths to gain insights into how different certifications have impacted their careers.

3. **Time and Effort:**
- **Commitment:** Consider the time and effort required for each course. Ensure you are ready to commit the necessary time to complete the certification while balancing your current job responsibilities.

4. **Financial Considerations:**
- **Cost vs. Benefit:** Weigh the cost of the certification against the potential benefits and career advancement opportunities it might offer.

By carefully evaluating these factors, you can choose the course or certification that best aligns with your career objectives and current professional standing. Whether you pursue ICWAI/CMA or another certification, each option has its own set of advantages that can help boost your career in different ways.