Certified management accountant (CMA) and certified public accountant (CPA) are both well-respected credentials in accounting and finance. But they open the doors to different career paths. 

CMAs specialize in management accounting and financial management. These accounting professionals primarily deal with a company’s strategic inner workings. CPAs work in public accounting, handling tax, financial reporting, and audits. 

In this article, we’ll break down the CMA vs. CPA in terms of what each credential covers and how the exams and requirements compare. We’ll also explore the kinds of jobs and salaries you can expect. 

Key Points 

• The CMA is a global designation focused on managerial accounting and financial strategy at a corporate or organizational level. It’s recognized in more than 150 countries. 
• The CPA is a state-issued license. These finance pros offer public accounting services, including auditing, taxes, and financial advice. 
• Popular CPA career paths include financial advisor and forensic accountant. CMA career paths include financial risk manager and managerial accountant. 
• The US Bureau of Labor Statistics (BLS) reports a median wage of $81,680 for accountants and auditors overall, with top earners above $141,000. Both credentials can help push you toward the upper end of that range. 
• Both the CMA and CPA can further your accounting career. Just be prepared to meet strict education, experience, and exam requirements. 

What Is a CPA?

A CPA is licensed by a state board of accountancy to perform accounting work that non-licensed accountants can’t—most notably, signing off on audits and certain financial reports. CPAs also handle tax preparation and planning, as well as consulting and advisory work. 

CPAs often work at public accounting firms or in house at businesses and nonprofits. Some work independently with individual clients. Their day-to-day often centers on helping clients reduce their tax burden and providing key financial insights that improve profitability. 

To become a CPA, you’ll need to: 

• Complete the education requirements set by your state, which typically involves 150 semester hours of college coursework, though many states now offer a 120-hour pathway with additional work experience 
• Gain at least 1 year of relevant work experience (requirements vary by state) 
• Pass all 4 sections of the Uniform CPA Exam 
• Meet your state’s continuing professional education (CPE) requirements 
• Follow the profession’s ethical standards 

A CPA license isn’t required for every accounting role, but it opens doors to senior positions and is essential for anyone who wants to sign audit reports or represent clients before the IRS. 

Key Responsibilities

CPAs commonly provide the following services: 

• Tax preparation and planning for individuals and businesses 
• Auditing financial statements 
• Helping clients stay compliant with tax laws and financial regulations 
• Representing clients before the IRS 
• Preparing and filing reports with the Securities and Exchange Commission (SEC) 
• Identifying fraud risk and advising on internal controls 
• Financial analysis and reporting 
• Advising clients on ways to improve profitability and manage tax liability 

Common Career Paths

A major difference between the CPA and CMA credentials is the career path each can put you on. Common CPA roles include: 

• Public accountant 
• Financial advisor 
• External auditor 
• Forensic accountant 
• Tax advisor 
• Compliance auditor 
• Government accountant 
• Corporate accountant 
• Chief financial officer (CFO) 
• Controller 
• CPA firm owner 

Some CPAs work directly with individuals, while many work in house at the business or corporate level. For example, a corporate accountant might help a company manage its costs and advise it on ways to boost profits. A government accountant, meanwhile, might focus on making sure public funds are being used responsibly. 

What Is a CMA?

The CMA is a global certification from the Institute of Management Accountants (IMA) recognized in more than 150 countries.  

CMAs primarily focus on financial management, planning, and strategy within organizations, often working in corporate or business environments. Obtaining your CMA shows companies you’ve proven yourself to be more than capable in managerial accounting and finance. 

If you’re interested in becoming a CMA, you’ll need to be an active IMA member and pass the 2-part CMA Exam. You’ll also need a bachelor’s degree (or a qualifying financial certification) and 2 years of continuous (and relevant) work experience. 

Key Responsibilities

As far as responsibilities go, there’s definite overlap between certified management accountants and CPAs. CMAs mostly focus on: 

• Financial planning and analysis (FP&A) 
• Budgeting and forecasting 
• Cost and asset management 
• Internal controls and risk analysis 
• Performance tracking and reporting 
• Supporting strategic business decisions 
• Identifying ways to improve financial systems and processes 

Common Career Paths

CMAs typically work inside organizations rather than serving outside clients. Common roles include: 

• Financial analyst 
• Cost accountant 
• Management analyst 
• Managerial accountant 
• Investment or financial analyst 
• Financial risk specialist/manager 
• Controller 
• VP of finance 
• Chief financial officer (CFO) 

A CMA might analyze costs and build forecasts to help decide whether to expand a product line. Another might analyze exposure to credit and market risk to determine threats to internal assets. 

Key Differences Between CMA and CPA

Accounting is a growing field. In fact, the US Bureau of Labor Statistics (BLS) expects a 5% uptick in employment for accountants and auditors through 2034. A recognized credential can help you stand out and move up faster, but the CMA and CPA prepare you for different kinds of work.  

To help you figure out which to choose, these are the biggest differences between the CPA and CMA. 

Focus and Scope

The CPA is a license issued by a state board of accountancy. It centers on public accounting work: tax, audit, financial reporting, and regulatory compliance, often for outside clients. 

The CMA is a global certification. It focuses on the financial work done inside an organization: management accounting, budgeting, forecasting, and decision support. 

Education and Exam Requirements

CMAs and CPAs must meet strict requirements before obtaining either designation. The standard CMA requirements are: 

• A bachelor’s degree from an accredited college or university, or 1 of the following certifications: chartered financial analyst (CFA), certified internal auditor (CIA), certified fraud examiner (CFE), or certified treasury professional (CTP) 
• 2-plus years of continuous work experience in financial management or management accounting 
• Active IMA membership 
• Passing score on the 2-part CMA Exam (360 out of 500 for both parts) 
• 30 annual hours of continuing education 

And the standard CPA requirements are: 

• Education set by your state; typically 150 semester hours, though many states now offer a 120-hour pathway with additional work experience 
• 1–2 years of relevant, supervised work experience, depending on your state and education path 
• Passing score on the 4-part CPA Exam (75 out of 99 on each section) 
• Often a minimum of 40 annual continuing professional education credits, but requirements vary by state 

Cost and Time Investment

Both the CMA and CPA can open a lot of doors for you, but each has an initial time and cost investment. 

The CPA Exam has 4 parts, including 3 Core sections (Auditing and Attestation, Financial Accounting and Reporting, and Taxation and Regulation) and 1 Discipline section of choice (Business Analysis and Reporting, Information Systems and Controls, or Tax Compliance and Planning). You’ll have 4 hours per section (16 hours in total). You’ll also get 30 months (36 in some states) to complete the entire exam once you start. 

The CMA Exam has 2 parts: Financial Planning, Performance, and Analytics and Strategic Financial Management. You have 4 hours to complete each section. And you have 36 months to complete the entire exam, though candidates often finish the program within 12 to 18 months. 

As for costs: 

• CPA Exam (including fees): Roughly $1,600, but the total cost will vary by state 
• CMA Exam (including fees): $1,118 to $1,715 

CPA vs. CPM: How They Compare 

Here’s a side-by-side comparison of the main CPA and CMA differences. 

	CPA	CMA
Governing body	National Association of State Boards of Accountancy (NASBA)	Institute of Management Accountants (IMA)
Focus area	Public accounting, tax, audit, and regulatory compliance	Management accounting, strategy, and corporate finance
Exam structure	4-part exam (each part is 4 hours) 3 Core sections: Auditing and Attestation (AUD) Financial Accounting and Reporting (FAR) Taxation and Regulation (REG) 1 Discipline section (your choice): Business Analysis and Reporting (BAR) Information Systems and Control (ISC) Tax Compliance and Planning (TCP)	2-part exam (each part is 4 hours) Part 1 (Financial Planning, Performance, and Analytics) External financial reporting decisions (15%) Planning, budgeting, and finance (20%) Performance management (20%) Cost management (15%) Internal controls (15%) Technology and analytics (15%) Part 2 (Strategic Financial Management) Financial statement analysis (20%) Corporate finance (20%) Business decision analysis (25%) Enterprise risk management (10%) Capital investment decisions (10%) Professional ethics (15%)
Education	Typically 150 semester hours, though many states now offer a 120-hour pathway with additional work experience  Often 40 continuing professional education credits annually, but it varies by state	Bachelor’s degree or relevant professional certification, or 1 of the following certifications: CFA, CIA, CFE, CTP  30 continuing professional education credits (annual)
Experience	1–2 years’ supervised work experience, depending on state and pathway	2 years relevant work experience (in financial management or management accounting)
Cost	Roughly $1,600, but varies by state	$1,118 to $1,715
Global recognition	Widely respected, but recognized primarily in the US	Recognized in 150-plus countries

CMA vs. CPA Salary Comparison

The US Bureau of Labor Statistics (BLS) doesn’t report salary data separately for CMAs and CPAs. It groups accounting roles under a single category, accountants and auditors, where the median annual wage is $81,680, ranging from $52,780 at the 10th percentile to $141,420 at the 90th. 

Credential-specific salary estimates add useful context, but treat them as directional because they come from different data sources and may reflect different titles, experience levels, industries, and employer types. ZipRecruiter reports the following average annual base salary at about $106,000 for CMAs and at roughly $92,000 for CPAs. 

Getting certified can improve your career prospects and earnings potential. For example, the IMA claims that CMAs earn at least 21% more than their non-certified peers. CPAs also typically earn more than non-licensed accountants. 

How to Decide Which Certification Is Right for You

Now that you know the differences between a CMA and a CPA, the next step is deciding which is right for you. Keep in mind that choosing between them is as much about your personal and professional goals as it is about the credentials or earning potential.  

Choose CPA if…

You want to work in public accounting, tax, or audit, helping individuals and businesses with tax planning, financial reporting, or compliance. The CPA may also be the right path if you want to represent clients before the IRS or someday open your own firm. 

Choose CMA if…

You want to work inside an organization, focused on budgeting, forecasting, cost analysis, and the financial decisions that shape strategy. The CMA is globally recognized, which can be a plus if you’re interested in working internationally or for a multinational employer. It’s also a strong fit if you see yourself moving toward leadership roles like controller, VP of finance, or CFO. 

Consider Both if…

You don’t have to choose between the CPA and the CMA. According to an IMA global salary survey, 20% of US respondents reported holding both certifications. Before deciding which to get first, ask yourself: 

• What are your career aspirations? 
• What are your interests and strengths? 
• Are you more interested in working in public accounting (such as with individuals, government organizations, and nonprofits)? Or would you rather work at the corporate level? 
• What are your salary requirements starting out? 
• How much time are you willing to commit? 

Having both credentials can open up more opportunities across the public and private sectors. It could also support leadership goals. You don’t have to pursue both right away. You could start with the 1 that feels more aligned with your career or education and go from there. 

Build Your Foundation With Intuit Academy

Either the CMA or CPA can expand your career options in accounting. But whichever path you pursue, the work starts with a strong foundation in accounting and tax. 

Intuit Academy can help you build that foundation. Our free tax prep classes cover the fundamentals at your own pace, and the broader course catalog offers a low-commitment way to explore the field while you weigh your options. 

When you’re ready to put what you’ve learned to work, Intuit’s tax careers is a good place to look for entry-level roles. 

FAQs

Can you hold both a CMA and a CPA at the same time?

Yes, as long as you meet the requirements for each. And some professionals do have both: An IMA global salary survey found that about 1 in 5 US respondents hold both certifications. Dual certification could increase your earning potential or open more leadership paths, especially in financial management and strategy. 

How long does it take to become a CPA or a CMA?

Becoming a CMA might take anywhere from 4 to 6 years. It can take 5 to 7 years to become a CPA. But note that individual paths can vary significantly depending on how you approach it. 

For the CMA, you’ll need a bachelor’s degree or a related professional certification, such as the CFA or CTP. You’ll also need at least 2 years of continuous work experience in a relevant field, like management accounting or financial management. 

CPA candidates complete a bachelor’s degree, earn additional college credits to meet state education requirements, pass the Uniform CPA Exam, and complete required work experience. Many states have traditionally required 150 semester hours of education, which is about 30 credits beyond a typical 120-credit bachelor’s degree. That said, many states have adopted alternative pathways involving fewer credits. 

Which credential is more recognized internationally?

The CMA has broader global recognition. It’s used in more than 150 countries. The CPA is well-known, too, but as a US state-issued license, it’s most useful for work involving US accounting standards and regulations. If you’re aiming for an international career, the CMA can be a more portable credential. 

Is a CMA or CPA harder to earn?

The difference in difficulty really depends on your skills and strengths, but the numbers suggest they’re similarly challenging. The CPA Exam’s pass rate is around 50%, while the CMA Exam’s pass rate is between 45% and 50%. 

Do I need a CPA or CMA to work in tax preparation?

If you want to work in tax prep, you’ll need an IRS-issued Preparer Tax Identification Number (PTIN). You don’t need a CPA or CMA to do this. However, many accounting professionals (specifically CPAs) obtain their PTIN as a matter of course. CMAs can also handle taxes, but that’s not their primary role.