The CMA and the CPA are both US-based accounting credentials, which is why they are often compared. In practice they point in different directions. The CPA is about reporting and assurance to the outside world; the CMA is about planning, analysis and decision support inside a business.
CMA vs CPA side by side
| CMA | CPA | |
|---|---|---|
| Awarding body | IMA | US state boards (exam by AICPA and NASBA) |
| Focus | Budgeting, cost management, performance, corporate finance, decision analysis | Audit, financial reporting, tax, regulation |
| Exams | 2 parts, multiple choice plus case-based questions | 4 sections, multiple choice plus simulations |
| Official fees | $1,685 professional, $1,088 student | About $1,000–$2,000 plus ethics and licence fees |
| Study time | About 150–200 hours per part | Several hundred hours across four sections |
| Time limit | 3 years to pass both parts | Usually 30 months to pass all sections |
| Experience | 2 years | 1–2 years, depending on state |
| Recognition | Global, strong in industry | US licence; required for public accounting |
Which one to choose
- Choose the CPA if you want to work in audit, public accounting or tax practice in the US, or plan to become a partner at an accounting firm.
- Choose the CMA if you work, or want to work, in FP&A, budgeting, cost accounting, controlling or as a finance business partner.
- Choose the CMA if you are outside the US and want a fast, globally recognised corporate finance credential.
- Get the CPA first, then the CMA, if you start in public accounting and plan to move to industry later.
The industry switch is where the CMA shines
A common pattern in US accounting careers is to start in public accounting, become a CPA, then move to a company after a few years. At that point the CPA has done its main job. Adding the CMA helps show that you can do the forward-looking work industry finance teams need: forecasting, performance analysis and investment decisions. Because it is only two exams, it fits around a demanding job.
Cost and time compared
Official fees are similar, but the CMA is quicker to finish and student rates make it particularly cheap for those still at university. The CPA's state-by-state requirements, including the 150-hour rule in many states, add time and cost before you can be licensed.
Build your budget with the CMA cost calculator and the CPA cost calculator, and compare pay in the CMA salary and CPA salary guides.
Frequently asked questions
Is the CMA easier than the CPA?
The CMA has two exams against the CPA's four sections and is usually faster to complete. Pass rates are around 50% per CMA part, similar to the harder CPA sections such as FAR and BAR.
Which pays more, CMA or CPA?
In US public accounting, the CPA is required for advancement and pays more. In corporate finance roles such as FP&A and controlling, the CMA is directly relevant, and IMA reports a salary premium of around 20% for CMAs.
Can I have both the CMA and the CPA?
Yes. Many finance leaders hold both, often earning the CPA early in public accounting and adding the CMA when moving into industry.
Is the CMA recognised internationally?
Yes. The CMA is earned in many countries and is popular in the Gulf, India, China and Southeast Asia for corporate finance roles. The CPA is mainly a US credential.
Do I need a degree for the CMA or CPA?
Both require a bachelor's degree for certification or licensing. The CPA usually also needs 150 credit hours, or a bachelor's plus extra experience in states with the new pathway.