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 decide whether the CMA designation is worth it for you.
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 those savings no longer apply if you’ve already graduated. 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 considering 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. Various options 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 personalised 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 must 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.
CMA USA Course Fees 2024
The CMA USA course fees for 2024 are structured to cater to both students and professionals. The breakdown of US CMA course fees includes key components such as registration, exam fees, and IMA membership. Here’s an updated look at the costs:
CMA Registration Fees
The CMA registration fees are a one-time, non-refundable cost required for enrollment in the program. The updated fees for 2024 are as follows:
- For students: $225
- For professionals: $300
These fees cover the registration process and access to the program materials. It’s crucial to complete registration in advance to avoid any delays.
CMA Course Fees Structure
The CMA course fees structure includes the registration, IMA membership, and exam fees for Part I and II. Here’s a detailed look at the costs for both students and professionals:
For Students:
- CMA Entrance Fees: $225 (discounted to $157.5)
- IMA Membership Fees: $160 (discounted to $112)
- Exam Fee – Part I: $370 (discounted to $259)
- Exam Fee – Part II: $370 (discounted to $259)
- Total: $1,125 (discounted to $787.5)
For Professionals:
- CMA Entrance Fees: $300 (discounted to $210)
- IMA Membership Fees: $295 (discounted to $206.5)
- Exam Fee – Part I: $495 (discounted to $346.5)
- Exam Fee – Part II: $495 (discounted to $346.5)
- Total: $1,585 (discounted to $1,109.5)
CMA Final Registration Fees
After completing the exams, candidates must pay the CMA final registration fees. These fees are associated with administrative processing and granting access to certification resources.
CMA Course Fees in India
For those pursuing the course in India, the CMA course fees in India are structured as follows for the Foundation, Intermediate, and Final courses:
- Foundation Course: ₹6,000
- Intermediate Course: ₹23,100
- Final Course: ₹14,000 per group (₹28,000 for both groups)
These fees are aligned with the official fee structure provided by the Institute of Cost Accountants of India.
Overview of CMA Course Fees and Duration
The CMA course fees are a key factor for aspiring candidates, with costs varying for students and professionals. For students, the total CMA course fees amount to $1,014, while professionals pay $1,585. This CMA course fees structure includes:
Registration fees: $225 for students, $300 for professionals
IMA membership fees: $49 for students, $295 for professionals
Exam fees (per part): $370 for students, $495 for professionals
Additionally, the CMA US course fees do not cover study materials, ranging from $299 to over $1,800, depending on the provider.
When considering the CMA USA course fees in Indian rupees, the total cost is approximately ₹88,033 for students and ₹1,31,000 for professionals (Figures can change depending upon the exchange rate of USD). The CMA course duration and fees are closely linked, as completing the certification typically takes 12-18 months. Preparing for each part requires around 150 hours of study, making time management crucial.
While the CMA course fees structure provides a clear breakdown of expenses, candidates should also plan for additional costs such as travel, accommodation, and potential lost wages due to time off work. Understanding the CMA USA course fees in India and the CMA course duration and fees helps candidates effectively budget and maximize their return on investment.
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!
FAQs
What are the CMA course fees for students?
The CMA course fees for students total approximately $1,125 for both parts of the exam, including all registration and membership fees.
How much is the CMA registration fee?
The CMA registration fee is $225 for students and $300 for professionals.
What is the CMA course fees structure?
The structure includes the registration fees, membership, and exam fees for Part I and Part II of the exam. The total fee varies depending on whether you’re a student or a professional.
Are there any additional costs for CMA?
Yes, study materials, travel, and exam accommodation are additional costs.
What is included tin he CMA USA course fees?
The fees cover registration, exam fees, and IMA membership, but additional costs for study materials or exam preparation may apply.
For more detailed information and expert guidance, you can visit the CMA Course page at Synthesis Learning.
