Build a career as a CMA (ICMAI)
India's statutory cost-and-management accounting designation, driving strategic costing, control and leadership.
Know the CMA (ICMAI) before you start
3 - Foundation, Intermediate, Final
Levels
20 (4 + 8 + 8)
Papers
40% per paper & 50% group aggregate
Pass Mark
Twice a year - June & December
Exam Terms
Roles & salary as you grow
The CMA (ICMAI) opens an entry role that promotes upward — here's the ladder and what each rung pays.
Stage 1
Cost Accountant / Cost Analyst
₹6–10 LPA
Manages cost records, product costing, budgeting and cost audits; statutory cost-audit signing rights in practice.
Stage 2
Finance Manager / Financial Controller
₹10–20 LPA
Oversees financial planning, MIS, internal controls and performance management in corporate finance.
Stage 3
Management Accountant / FP&A Lead
₹9–18 LPA
Drives decision-support analytics, variance analysis and strategic cost management for business units.
Stage 4
CFO / Finance Director (senior track)
₹40 LPA and above
Leads the organisation's finance, treasury and strategy agenda after significant CMA-qualified experience.
*Indicative ranges from public data; actual pay varies by employer, city and cycle.
Are you eligible?
Education
Foundation: passed Class 10+2. Intermediate: CMA Foundation, OR a graduate in any discipline (except fine arts), OR a qualified/pursuing CA/CS. Final: passed both groups of CMA Intermediate.
Age
No upper age limit.
Nationality
Open to Indian and foreign nationals.
How the CMA (ICMAI) is structured
The CMA course (Syllabus 2022) runs across three stages. Foundation is 4 papers. Intermediate has 8 papers in Group I and Group II. Final has 8 papers in Group III and Group IV. Each paper is 100 marks. Foundation is objective/MCQ-based; Intermediate and Final are largely descriptive (3 hours/paper). You need at least 40% in each paper and a 50% aggregate across a group to clear it; groups can be cleared independently.
Foundation (4 papers)
Intermediate - Group I
Intermediate - Group II
Final - Group III
Final - Group IV
What you'll study
menu_bookFoundation
menu_bookIntermediate
menu_bookFinal
How to crack the CMA (ICMAI)
Register with ICMAI
Enrol online at icmai.in for Foundation (after 10+2) or directly for Intermediate if you are a graduate or Foundation-qualified.
Clear the Foundation stage
Pass all 4 objective papers to progress; direct-entry graduates skip this step.
Complete both Intermediate groups
Pass Group I and Group II (8 papers), plus the required computer and soft-skills training.
Undergo practical training
Complete the mandated practical/skill training alongside or after Intermediate.
Clear both Final groups
Pass Group III and Group IV (8 papers) securing 40% per paper and 50% aggregate per group.
Obtain membership (ACMA)
Apply for Associate membership of ICMAI to use the CMA designation; a Certificate of Practice is available for those setting up in practice.
The CMA (ICMAI) cycle
December each year (registration usually closes 31 July)
June each year (registration usually closes 31 January)
Two terms every year - June and December
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See the full CMA (ICMAI) guide arrow_forwardCMA (ICMAI) — common questions
Who is eligible for the CMA course?
You can join Foundation after passing Class 10+2. Graduates in any discipline (except fine arts) can enter directly at the Intermediate level.
How long does it take to become a CMA?
Typically 3–4 years across Foundation, Intermediate and Final, plus the mandatory practical training, depending on how quickly you clear each group.
What is the passing criteria?
A minimum of 40% marks in each individual paper and an aggregate of at least 50% across all papers in a group.
What does the CMA course cost?
Approximate ICMAI course fees are around ₹6,000 for Foundation, ₹22,000 for Intermediate and ₹25,000 for Final, excluding coaching and exam fees.
What salary can a CMA expect in India?
Freshers commonly earn ₹6–10 LPA, experienced CMAs in manager/controller roles ₹15–25 LPA, and CFO-track roles well beyond ₹40 LPA.
Is CMA recognised in India?
Yes - it is a statutory qualification under the Cost and Works Accountants Act, 1959; CMAs hold exclusive rights to conduct statutory cost audits.