The total cost for CMA (Certified Management Accountant) certification typically ranges from $1,014 for students to $1,585 for professionals, assuming no exam re-takes.
Understanding the Cost of CMA Certification
The overall cost to achieve CMA certification includes several distinct fees, which vary based on whether you are a student or a professional member of the Institute of Management Accountants (IMA). These fees cover annual IMA membership, the entrance fee to the CMA Exam program, and the fees for each part of the CMA exam.
Here's a detailed breakdown of the typical costs:
| Cost Component | Student Cost | Professional Cost |
|---|---|---|
| IMA Membership (annual fee) | $49 | $295 |
| Entrance fee to take the CMA Exam | $225 | $300 |
| CMA Exam fee (per part) | $370 | $495 |
| CMA Exam fee (total for both parts) | $740 | $990 |
| Total Estimated Costs (no re-takes) | $1,014 | $1,585 |
It's important to note that these figures primarily cover the fees charged by the IMA and do not include the cost of CMA review courses, study materials, or any potential re-take fees, which can add significantly to the overall investment.
Key Cost Components Explained
- IMA Membership: To be eligible for the CMA program and maintain your certification, you must be a member of the IMA. The annual fee for this membership differs significantly between student and professional categories.
- CMA Entrance Fee: This is a one-time fee that allows you to enter the CMA program and schedule your exams. It's paid before you begin taking the exams.
- CMA Exam Fees: The CMA exam consists of two parts. A separate fee is charged for each part. The total exam fee listed above covers both parts.
Budgeting for these components, along with your chosen study resources, is crucial for a smooth certification process. For more detailed information on CMA certification costs and preparation, you can explore various online resources on CMA certification costs.
