CFA After US CMA: Does This Combination Really Make Sense?

As a commerce counsellor, I often meet students who have already completed — or are close to completing — US CMA and then ask:

“Ma’am, should I do CFA after US CMA?”
“Will CFA add value or will it be an overkill?”
“Will this combination actually help my career grow faster?”

These are very valid questions, because CFA is not a short or cheap commitment.
So before jumping in, it’s important to understand what CFA adds after US CMA — and for whom this combination truly works.

This blog will help you understand:

  • Whether CFA after US CMA is logical
  • Eligibility & ideal timeline
  • Cost & workload reality
  • Career roles this combo unlocks
  • Real examples from counselling experience

First, Understand What You Already Have with US CMA

By completing US CMA, you already have strong expertise in:

  • Management accounting
  • Financial planning & analysis (FP&A)
  • Cost management
  • Internal controls & risk
  • Strategic decision-making

👉 US CMA prepares you for corporate finance roles inside organisations — especially MNCs, Big 4, and global capability centres.

Many students at this stage already work as:

  • FP&A Analysts
  • Management Accountants
  • Finance Business Partners
  • Corporate finance executives

So the real question becomes:

👉 What extra value does CFA bring after this point?

What CFA Adds After US CMA

CFA is not a continuation of US CMA — it is a specialisation shift.

CFA Adds Expertise In:

  • Equity & debt investments
  • Valuation & financial modelling
  • Portfolio & asset management
  • Capital markets & instruments
  • Investment decision-making

📌 While US CMA focuses on internal business decisions, CFA focuses on external market & investment decisions.

This makes CFA after US CMA a horizontal expansion, not a repetition.

Discounts are available only when you register through an IMA approved Learning Partner like Megha Bhansali Classes.

Who Should Consider CFA After US CMA? (Very Important)

CFA after US CMA makes sense ONLY if at least 2–3 of these are true for you:

✔️ You enjoy analysing companies, markets & valuations
✔️ You want to move into investment-linked or strategic finance roles
✔️ You’re targeting roles beyond pure accounting
✔️ You’re comfortable with long-term academic commitment
✔️ You already have 1–3 years of work experience

📌 CFA is most powerful when paired with practical corporate exposure — which US CMA already gives you.

Who Should NOT Do CFA After US CMA

Be honest with yourself.

❌ If you want quick promotions
❌ If you dislike theory-heavy studying
❌ If markets & investments don’t interest you
❌ If you’re already overwhelmed at work

Then CFA may become stressful, expensive, and unnecessary.

Many successful US CMA professionals never need CFA.

Eligibility: Can a US CMA Do CFA?

Yes — absolutely.

CFA Eligibility (India-Specific)

  • Graduation completed (any stream)
  • Or final year graduation students

📌 US CMA qualification does not restrict or replace CFA eligibility — they are independent bodies.

Ideal Timeline: When to Start CFA After US CMA

Best-Recommended Timeline

✔️ Complete US CMA (or at least both parts)
✔️ Gain 1–2 years of work experience
✔️ Start CFA Level 1 alongside your job

👉 This helps you relate CFA concepts to real work, making learning easier.

Aggressive Timeline (Not for Everyone)

✔️ US CMA + CFA Level 1 together

⚠️ Only for highly disciplined students with strong academic stamina.

Cost of CFA After US CMA (India Reality)

Since US CMA is already completed, you must plan CFA as a fresh financial commitment.

CFA Cost in India

  • ₹4.5 – ₹6+ lakhs (all 3 levels)
    Includes:
  • Exam fees
  • 18% GST
  • Study materials
  • Mock exams

📌 Cost is spread over 3–4 years, not paid at once.

Career Roles After US CMA + CFA

This combination opens doors to high-value hybrid finance roles such as:

  • Corporate Finance Analyst (Strategy + Valuation)
  • FP&A with Investment Focus
  • Valuation & Transaction Advisory
  • M&A support roles
  • CFO track (long term)

Industries Hiring This Combo

  • Big 4 & Big 6 firms
  • Investment banks & advisory firms
  • MNC strategy teams
  • Consulting & transaction advisory
  • Global finance leadership roles

📌 US CMA gives you entry & stability.
📌 CFA gives you specialisation & leverage.

Real Counselling Examples

Example 1: US CMA Working Professional

  • Completed US CMA in 14 months
  • Joined an MNC in FP&A
  • After 2 years, felt limited to budgeting roles
  • Started CFA Level 1
  • Transitioned into valuation & strategy projects

👉 CFA helped him shift domains without losing stability.

Example 2: Overambitious Student

  • Started CFA immediately after US CMA
  • No work experience
  • Struggled to apply concepts
  • Lost motivation mid-Level 2

👉 Timing matters more than ambition.

US CMA + CFA vs ACCA + CFA (Quick Note)

  • US CMA + CFA → Corporate + investment focus
  • ACCA + CFA → Accounting + audit + investment

📌 US CMA + CFA is more strategy-oriented
📌 ACCA + CFA is more compliance & reporting-oriented

Final Verdict: Is CFA After US CMA Worth It?

  • Yes — for the right profile.

    CFA after US CMA is worth it if:
    ✔️ You want to move beyond accounting
    ✔️ You’re targeting strategic & investment roles
    ✔️ You’re thinking long-term (10–15 year career vision)

    But if US CMA already matches your career goals, CFA is optional, not mandatory.

Need Personalised Guidance?

  • Every US CMA professional’s journey is different.

    👉 Connect with Career Coach Megha to get:
    ✔️ CFA suitability check after US CMA
    ✔️ Timeline & cost planning
    ✔️ Honest guidance (no course-selling bias)

Megha Bhansali Classes offers expert ACCA coaching with a focus on concept clarity, interactive learning, and exam-oriented preparation. Led by Megha Bhansali, a Big 4-trained tutor, the institute provides personalized guidance, mock tests, and continuous student support. It also offers personality development courses to enhance communication, confidence, and leadership skills, shaping future finance professionals.

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