Beyond CA: How Global Certifications Like CPA, CMA And ACCA Unlock High-Paying Careers – News18

Last Updated:February 24, 2025, 19:51 IST

Global certifications such as CPA, CMA, and ACCA provide lucrative career alternatives to CA, offering professionals international opportunities in finance.

By Sripal Jain

The finance and accounting sector is undergoing significant transformation, influenced by globalisation and evolving industry demands. As organisations seek individuals with internationally recognised expertise, traditional career paths are giving way to globally accredited certifications. The 2024 ICAI CA results highlighted the challenges faced by aspiring chartered accountants, with a pass percentage of just 13.44% for Group 1 of the course. Out of 66,987 candidates, only 8,708 successfully cleared the exam. Given these market trends, many aspiring professionals are re-evaluating their futures and exploring alternative career options with better global prospects.

For these professionals, globally recognised certifications such as CPA (Certified Public Accountant), CMA (Certified Management Accountant), and ACCA (Association of Chartered Certified Accountants) are considered viable pathways to success. These credentials not only enhance technical skills but also open doors to international career opportunities. In today’s interconnected environment, these qualifications provide a competitive advantage and facilitate access to diverse roles beyond traditional positions—aligning perfectly with careers in multinational companies, leading financial institutions, and global consulting firms.

Certifications like CPA, CMA, and ACCA are globally recognised, with over 669,000 CPAs in the U.S. alone and ACCA members across 180 countries. These credentials provide advanced expertise in financial management, strategy, and ethics—key skills for navigating today’s complex business environments. As finance becomes more strategic and technology-driven, these certifications ensure professionals can adapt while maintaining high standards. They also provide access to a vast global network, supporting career growth and keeping members informed on industry trends.

Many countries have mutual recognition agreements that allow certified professionals to qualify for equivalent designations. For instance, CPAs can leverage reciprocity agreements to work in Canada, Australia, and New Zealand. Similarly, ACCA members may receive exemptions from CPA or CA requirements in various regions after completing qualifying exams.

Earning one of these certifications significantly enhances career growth and salary potential. The U.S. Bureau of Labour Statistics reports that CPAs earn an average annual salary of $80,000, with experienced professionals making over $120,000. Certified professionals can command salaries 25-40% higher than their non-certified peers. CMAs, recognised for their expertise in financial planning and analysis, frequently ascend to leadership roles such as CFOs and finance directors. A 2021 IMA survey found that CMAs globally earn 63% more than non-certified finance professionals. ACCA professionals also secure high-income opportunities in banking, audit, and consultancy, with salaries ranging from $50,000 to over $100,000, depending on experience and location.

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The certification process, through examinations, builds knowledge in financial reporting, auditing, taxation, cost management, and risk assessment, equipping candidates with a solid foundation for handling related challenges. In addition, these programmes develop analytical and strategic thinking skills, which are critical in high-level decision-making. Continuing professional development (CPD) is a requirement for CPAs, CMAs, and ACCA members, ensuring they remain updated on evolving accounting regulations, technological advancements, and best practices in the industry.

In today’s global job market, certifications such as CPA, CMA, and ACCA serve as powerful career accelerators, enhancing expertise and credibility. They act as key differentiators, opening doors to leadership roles and international mobility in the finance and accounting sector.

(The Author is the founder of Simandhar Education. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect News18’s views.)