The Cost & Management Accountant (CMA) certification in India is awarded by the Institute of Cost and Management Accountants of India (ICMAI) and is considered prestigious and provides access to high paying and powerful positions in the field of finance and cost management.
However, for many, the question of whether it becomes more difficult to get the CMA title as one grows older remains an issue of concern.
In this article, we will discuss the effects of age on the process of obtaining the CMA title in India and whether the obstacles that older candidates face make it more difficult or simply different.
1. Work Experience: A Strong Advantage
The candidates who have been pursuing the CMA qualification for some time are likely to be older and may have accumulated a lot of working experience which can be an added advantage in grasping the practical application of the syllabus.
Relating Theory to Practice: The curriculum of CMA India is more inclined towards the subjects like financial management, cost accounting and the regulatory framework and these subjects become more understandable for those who have already worked in these fields.
It will be easier for a candidate with years of experience in finance or cost management to grasp and apply the theoretical concepts of these topics in business.
Fulfilling the Experience Requirement: Candidates who have been working in cost or management accounting positions for some time are likely to have already met the work experience requirements for the CMA qualification, thus enabling them to focus on passing the exams.
2. Balancing Career, Family, and Studies: A key issue
The major issue that older candidates encounter is the fact that they have other responsibilities such as work, family, and studying for the difficult CMA exams.
Time Management: This is especially true for those who have full time jobs and other responsibilities such as taking care of their families. Fresh graduates for instance may have more time to manage as compared to older students who may be working while studying.
However, candidates who are older and in employment, have to be very disciplined and set a proper time table to study while attending to other responsibilities.
Study Support: Most of the older candidates prefer online coaching or weekend classes meant for working candidates. These offer convenience and enable the candidates to study in their own time without having to quit their jobs. The increase in the number of digital learning resources in India has helped the professionals to gain access to quality study materials at their own convenience.
3. Cognitive Agility: A Potential Challenge but Easily Avoidable with Experience
It is believed that with age, the speed of learning new concepts may be slower, and therefore, it is not easy to learn new concepts. Nevertheless, it is often compensated by the experience and better understanding of financial matters in candidates of a more mature age.
Theoretical and Practical Knowledge: The candidates who have been practicing in the finance, accounting or cost management field for several years have good understanding of the basics. This is usually beneficial to them since they are able to grasp concepts better than the younger candidates despite the fact that they may take longer time to assimilate new information.
Learning Techniques: The candidates in the older age group can make use of study schedules and memory enhancement strategies such as spaced repetition, concept mapping or learning through practice tests. There are numerous CMA coaching institutes in India that provide the candidate with the study schedule and guidance to assist the candidate of any age.
4. Technological Advancements: It is a two-sided tool.
Over the past few years, there has been a rapid technological development in the accounting profession in India ranging from automation of cost accounting to the online examination. In the case of older candidates, it may be difficult to keep abreast with such changes and may not be very conversant with new tools and platforms.
Adapting to Exam Technology: The CMA exams in India are computer based, which may be a source of initial concern to older candidates who may not be very conversant with computer-based tests. However, the candidates can prepare for it through constant practice with the online mock exams and the use of e-learning platforms.
Leveraging Technology: On the other hand, technology has numerous benefits for older workers, as this paper will show. Thanks to the availability of online coaching, mobile applications, and study groups, the older candidates can easily get access to the quality study materials, practice tests, and recorded lectures at any time and from any place. This flexibility is especially important for people who have to combine work with other responsibilities.
5. Industry Expectations and Networking Opportunities
The economy of India is expanding and therefore the need for qualified financial personnel in various sectors such as manufacturing, information technology, pharmaceuticals, and fast-moving consumer goods. The CMA qualification is gaining importance in the business environment of India and the people holding this certification are highly sought after.
Networking Opportunities: The candidates who are older, have already built their professional networks and these networks can be useful as they progress in their CMA career. These networks can be used to get a better job, referrals and even mentorship in the career path chosen.
Industry Recognition: The CMA title is well accepted by the leading employers in India such as government organizations, PSUs, and MNCs. In the case of older candidates, the CMA title can help them to gain better recognition and visibility in the market and get a better opportunity to secure senior roles.
Conclusion to the question Is It Harder to Get the CMA Title in India as We Get Older?
There are some challenges that one is likely to face when pursuing the CMA later in life such as having to balance between work and college, having to learn new ways of learning and having to contend with technology among others, but these are not insurmountable challenges. In fact, many of the older candidates have valuable assets that other candidates may not possess, for instance, experience, knowledge in the field and career objectives.
The Indian CMA qualification is possible at any age provided one has the right attitude, time management skills and availability of increased number of resources for working professionals. Therefore, it can be said that it is not the age that defines success but the desire and the ability to work hard. Therefore, it can be stated that the journey is different for older candidates, but it is not more challenging than for other candidates.
The CMA title still holds its value and is still within reach for anyone who wants to take it up at any point in their career.
CMA Course Direct or Indirect Entry Eligibility After 12th Grade
