US CMA Course Fees: Registration, Exam & Hidden Costs
Becoming a Certified Management Accountant (CMA) can be a transformative step in your career. For many, like myself, it has unlocked new doors, from launching businesses to gaining freedom in various ventures. However, the financial and time investments required to achieve this certification are significant. Before you dive into the process, it’s crucial to understand the full scope of the costs involved. Let’s break down everything from US CMA exam fees, study materials, and IMA memberships to hidden and often overlooked costs. This guide will help you make an informed decision on whether the CMA designation is worth it for you.
Watch our video to learn US CMA Full Cost :
US CMA Exam Cost
As of October 2023, the total US CMA exam cost is $1,585 for professionals and $1,125 for students. These fees include:
For Students
| Particulars | Students | Discounts & Scholarships | Net Payable |
| CMA Entrance Fees | $225 | $67.50 | $157.5 |
| IMA Membership Fees | $160 | $48.00 | $112 |
| Exam fee- Part I | $370 | $111.00 | $259 |
| Exam fee- Part II | $370 | $111.00 | $259 |
| Total | $1,125 | $337.5* | $787.5 |
For Professionals
| Particulars | Professional | Discounts & Scholarships | Net Payable |
| CMA Entrance Fees | $300 | $90 | $210 |
| IMA Membership Fees | $295 | $88.50 | $206.5 |
| Exam fee- Part I | $495 | $148.5 | $346.5 |
| Exam fee- Part II | $495 | $148.5 | $346.5 |
| Total | $1,585 | $475.5 | $1,109.5 |
If you’re a student, you benefit from reduced costs, but if you’ve already graduated, those savings no longer apply. Additionally, the entrance fee is a one-time, non-refundable payment that doesn’t cover your IMA membership, which we’ll dive into shortly.
If you’re thinking about becoming a CMA, don’t let the fees discourage you. At Synthesis Learning, we offer comprehensive coaching and support to help you pass on your first attempt. Sign up today and get started on your journey to becoming a CMA!
The Cost of US CMA Study Materials
CMA study materials can be a significant investment, but they’re crucial to ensuring you pass the exam. There are various options available to fit different learning styles, from textbooks to in-room courses and online study programs.
Popular US CMA exam review courses include Hock International, Becker, Wiley, Gleim, Surgent, and CMA Exam Academy. Depending on the provider and format, prices range from $299 to over $1,800. Self-study options may seem affordable, but investing in a structured course will greatly improve your chances of passing.
While these costs can seem high, the return on investment is significant. Passing the CMA exam can lead to substantial career and salary growth, making it well worth the upfront cost.
Choosing the right study materials can make all the difference. At Synthesis Learning, we offer access to top-tier review courses and personalized coaching to ensure your success. Contact us today to learn more about our CMA prep options!
The Cost of the IMA Membership
In addition to exam fees, you are required to be a member of the Institute of Management Accountants (IMA). IMA membership fees vary based on your status:
| Membership Type | Fee |
| Professional | $295 annually |
| Student | $160 annually |
For professionals and academics, there’s also a one-time processing fee of $15. For students, this fee is waived. The IMA also offers scholarships for high-achieving students, so be sure to check if you qualify.
Hidden Costs for Obtaining a CMA Certification
Beyond the upfront costs, there are several hidden costs associated with pursuing a CMA certification. These can vary based on your personal circumstances:
Travel and Accommodation Expenses – If the testing center is far from your home, you may need to factor in travel costs, such as hotel stays, food, and transportation.
Time Off Work – If you are working full-time, taking time off to study or sit for the exam could lead to lost wages.
Continuing Professional Education (CPE) – After becoming a CMA, you’ll need to complete 30 hours of CPE annually, which can cost as per IMA’s policy.
By planning for these costs ahead of time, you can budget more effectively and avoid unexpected expenses.
What It Costs to Fail the CMA Exam
If you fail, you’ll need to pay the exam fee again ($495 for professionals, $370 for students) and invest more time in studying. Preparing thoroughly the first time can save you a significant amount of money and time.
Don’t risk the cost of failing! Enroll in Synthesis Learning’s expert CMA coaching program to maximize your chances of passing on your first attempt. Our instructors are committed to your success.
Time Investment in Becoming a CMA
Another significant investment is the time required to become a CMA. The process includes:
Earning your Bachelor’s degree
Studying for the CMA exam (about 150 hours per part)
Preparing for each section over 3-4 months
Although the certification process can take up to a year or more, the benefits of earning your CMA far outweigh the time spent.
ROI of Becoming a CMA
Despite the high upfront costs, the return on investment (ROI) of becoming a CMA is impressive. According to the IMA’s 2021 Global Salary Survey, CMAs earn a median total compensation that is 58% higher than non-CMAs. In the U.S., CMAs earn an average of Rs.2,00,000 more annually than their peers without the certification.
Conclusion
While the path to becoming a CMA comes with considerable costs, both financially and in terms of time, the long-term benefits make it a worthwhile investment. From exam fees and study materials to hidden costs and the ROI of increased salary potential, understanding these factors can help you make the right decision.
At Synthesis Learning, we are here to guide you every step of the way. With expert instructors and comprehensive study plans, we help you pass the CMA exam and take your career to the next level. Don’t wait – contact us today at 9930953567 to start your CMA journey!
