The Graduate Management Admission Council reported 6.6% dip in MBA
programs in the US and this is the fourth year in a row. There is a 70% decline
in full time two year programs. But professionals have found a new way to earn
a six-figure salary! Yes, the accounting certifications such as CPA and CMA
(Certified Management Accounting), which is less expensive and time-consuming
than a full MBA program.
The Institute of Management Accountants’ CMA certification reported 21%
growth in past five years and 40% last year. Because of the micro credentials
where you can pick up the skills very easily and quickly, these courses are
setting the new trend. In this tech-savvy age, accounting profession is
changing as most of the routine tasks are being automated and artificial
intelligence, skills of planning, decision, strategic analysis are the new
things to be learnt to excel in future. The CMA programs are so designed such
that they don’t get obsolete.
To climb up the corporate ladder and become a true business partner on
the finance and general management team, a new certification called CSCA
(Certified in Strategy and Competitive Analysis) is introduced. The emphasis is
made on data analytics technology skills to help students combat the new
problems and need of the market. These programs will surely help students to
pay off their student loans and debts more quickly.
According to a survey, CMAs guarantee you a job, get more promotions and
earn more salary while a graduate in BS in Accounting without a certification
can’t get a job these days. CMAs help earn 60% higher median total compensation
compared to non-CMAs.
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