What my CMA designation does for me...

 

	Flexible Career Choices Most professionals will change jobs, and even careers, many times before they retire. So, the well-prepared among us are choosing to invest in the development of a broad skill base that can be carried to different employers, different sectors, and even different countries. Ideally, this is paired with a specific skill set from which a deeper base of knowledge can be tapped. Within the world of business, CMA offers the unique opportunity to have both sides of this equation to provide unparalleled career flexibility. This balance comes from the unique combination of: • The broad knowledge-management skills necessary for senior and executive positions, and • The specific accounting skills required for many high-level positions, well above strictly “financial” positions.
While many CMAs do choose traditional roles such as vice-presidents of finance, controllers, etc., a larger number move on, and “up”, to become presidents of companies, directors on boards, and entrepreneurs. In addition, some CMAs will opt to move laterally, becoming heads of marketing and human-resource departments. Generally speaking, people who chose the CMA route are looking for that combination of flexibility and senior level roles, often producing innovative results and re-inventing roles for themselves where they can.
Because of this, employers recognize the adaptability of a CMA, often choosing to place them in leadership and cross-functional roles because of their broad skill set. Some CMAs work in public accounting; however, most CMAs choose to work in industry, government, and the not-for-profit sectors – any organization that requires broad management skills combined with financial expertise.
Here are a few examples of roles staffed by CMAs in Atlantic Canada, Bermuda, and the Caribbean:
Bell-Aliant Inc., Chief Financial Officer and Vice President Bacardi International, Manager of Finance Boston Bruins Hockey Club, Director of Marketing BP Trinidad and Tobago, Controller Butterfield Bank, Vice President, Corporate Banking CIBC Offshore Banking Services Corporation, President and CEO Citibank (T&T), Vice President Eastlink, Chief Financial Officer Export-Import Bank of Trinidad & Tobago, Chief Executive Officer ExxonMobil Canada, Joint-Venture Analyst Government of Nova Scotia, Controller Grant Thornton Chartered Accountants, Partner IBM World Trade Corporation, Controller Marsh Management Services (Bermuda), Managing Director, Captive Solutions Ministry of Finance, Economic Affairs, Development, and Energy (Trinidad and Tobago) – Senator PricewaterhouseCoopers, Partner Sobeys, Vice President Finance Transformation The Nation Publishing Co. Ltd., Chief Executive Officer
Recognition and prestige CMAs are well recognized throughout the world and carry with them an excellent reputation. We have members in almost every country of the world, with a heavy emphasis on English speaking countries with a vibrant financial sector and/or diversified economy: such as Canada, the United Kingdom, Bermuda, Barbados, the Bahamas, and Trinidad & Tobago, to name a few. In the Americas, CMA is the undisputed leader in strategic management accounting. Even with a growing membership, the demand for this credential continues to exceed the supply of CMAs – which is great news for our CMA members and students, as this translates into incredible career opportunities.
Financial benefits Not surprisingly, CMAs are generally very well rewarded for the contribution they make in the workplace and in their communities. The difference between having a CMA designation (versus not having a designation) typically makes a dramatic difference in your salary, especially as your career begins to progress. In Atlantic Canada, for example, the average CMA earns approximately $90,000 per year (roughly the same in US$) but senior CMAs earn much more, with the top ten per cent making between $125,000 to $250,000 annually.
Knowledge While all these other benefits are quite powerful on their own, it is easy to forget that the CMA is primarily about obtaining the skills and knowledge that allows everything else to fall into place – both in your job and your career. In short, the combination of broad management skills and high-level financial skills opens the doors to positions that would otherwise require many more years of experience. As a final note… while many CMAs might not say it out loud, virtually all would agree that their CMA designation was probably the most significant investment of their careers, and also the biggest confidence-builder for them professionally and personally. Talk to a CMA – they’ll inevitably say they were astonished by all they could do upon graduating the program.
Nancy Foran, CMA Chief Executive Officer, Certified Management Accountants of Nova Scotia, Bermuda, and the Caribbean CMA class of ‘96