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Is anyone experiencing similar issues I am? I've had a number of initial interviews, but the jobs just aren't out there. The CMA hasn't "set me apart" the way I was told it would. I have an MBA, 12 years of business management consulting, systems management experience including managing worldwide ERP implementation activities, international manufacturer reporting, a/r and a/p management... and the CMA. Thirty years of work includes 15 in manufacturing and 15 in insurance and finance.
No offers in 30 months. Never had trouble finding work until the past three years, have great references from both former employers and clients. Am looking for a mid- to director-level position but can't break the ice. After being eliminated again, I asked one hiring manager if the CMA had any effect on his decision to include me in the finalists. He told me, "Honestly, I didn't even know what that was. I just went on your experience."
Went back to former clients and have been told, "We not hiring anyone right now."
ARGH.
Comment
Hi,
I am very sorry to hear of your problems with your job search. I believe it has more to do with the abysmal state of the economy and the overall job market than any lack of "help" from CMA certification. Your MBA and experience is also not "cutting through".
That is not to say they are not all incredibly valuable to you, they are. It is also not representative to cite anecdotal evidence that the hiring manager had "no idea" what the CMA was. As a Hiring manager, it is his job to know what certifications are out there, and the value they have to prospective companies. I agree many are not aware of the CMA, however "many" are.
You are caught in the worst job market in decades, there are PHD'S out of work, however I believe like all business cycles this too will pass. When things begin to move and positions open up again, your credentials will prove very valuable. There are just too many applicants for available positions at the moment. The fact you are getting interviews speaks well of you, many do not even get that far. During the interview process, use the opportunity to speak of the benefits of the CMA, it provides great talking points that can separate you from the rest.
Hang in there, I feel for you. Things will get better.....
Regards,
Jeff
Hello Tom,
Just an honest opinion, but if you are seeking a mid to director level position, you will likely be delegating work to CMA types and not often utilizing it practically yourself. That doesn't mean you should diminish the effort and accomplishment it took to apply yourself toward this, I applaud your value for self improvement and continuing education.
Best regards,
Travis
It has been suggested to me that I should pursue a CPA. A local university business chair has helped me develop a plan to take the graduate-level accounting classes that would help me pass the CPA exam... then, later, complete a Masters in Accounting if I wished.
Any input on this? I've never really seen myself going full-bore into accounting. I've mostly been working in operations... systems, supply chain, manufacturing process improvement, office automation, dunning, etc.
Hi Tom,
You have excellent credentials, as I stated you are a victim of the worst recession since the great depression. Personally I do not think getting the CPA is the answer, CPA'S are looking for work as well..along with Lawyers , Finance professionals, etc
Becoming a CPA will certainly bolster your profile, however when the Economy turns around I think you are well positioned to find a job. You do not need a master in accountacy or a CPA credential to have a career in accounting. You have an MBA and a CMA, that is impressive.
To become a CPA, You will need to get hired by a CPA firm to get the needed Public accounting experience required to get certified. That is no guarantee, you will be competing with recent college grads for these positions. I might add, the CPA firms own you..you are not paid great as they know you need them. That is how it is in California anyway...
Your experience is valuable....instead of going back to school, spend the time networking. When the economy turns around you will be ready. This is just my personal opinion, I will never become a CPA for the reasons expressed here.
Good Luck,
Jeff
I think the suggestion was meant to put me in a better position for a corporate role working in a controllers operation or treasury... something like that. Maybe a cash manager or the like. CPA firms are similar here in Ohio. I talked to my CPA a few months ago, and he tole me he's increasing staff... and starting them out at $34-38k. I almost did a spit-take when he told me that.
Just my 2 cents - or, maybe it's down to a penny:
I truly would not spend the money, let alone the time, to get a masters & take the CPA if you don't really, really want to work as a CPA - at least for a little while. I think starting salaries with bigger firms are higher than mid-30s but, in my experience, more 'mature' candidates aren't likely to get hired by big firms.
Your credentials sound strong and I agree that you're probably encountering the down economy more than anything else. (I just overheard another job seeker comment that he targets his efforts on companies during the weeks just before and after their fiscal year end, since hiring patterns frequently change at FYE. I'm curious about whether that is effective.)
I have been a CMA since 2002, and honestly have found little benefit in job searches and little regard for it once I was hired. Maybe it's just the industries I'm in, where the CPA is more highly regarded -- but then, I am an accountant. I frequently spent time in interviews educating the manager or HR person about what the CMA is. It's too bad the IMA hasn't done more of this.
Dear Tom
From my experience of being a finance manager for more than 30 years, management accountants (responsible for financial planning, budgeting and profitability/business analysis)are more cherished and sought after in a corporation than financial accountants (responsible for statutory reporting and tax compliance).
However, management accounting bodies are less well known than general accounting bodies. That is why companies looking for management accountants are still looking to CPAs. In Hong Kong, recently I have seen a couple of management accounting bodies drumming up their promoting efforts both in the press and TV, such as CIMA (UK) and CMA (Australia).
I think your carreer will have a turnaround once the economy picks up. In my opinion, there is no need to study for a CPA. I understand CPA firms usually recruit young grads.
LAW Man Wah, CMA, Hong Kong
Dear Tom,
Such a relevant topic you have posted here.
I am in my mid 40s, yet chose to earn CMA title because I have been seeing a lot of job ads here in the UAE seeking either CPA, CMA or MBA as minimum qualification for mid-management roles in Finance. My motivation in pursuing this title was to be able to "qualify" for a mid-mgt role in the Company (Australian firm) I am currently working in. Your enviable credentials will surely land you a job soon, maybe sooner elsewhere if you do not limit your geographical pursuit. Good luck, Tom.
Dear Angel,
I'm interested in working in the Middle East. Do you think it is possible for a Chinese National to obtain a work permit from there? My background is like this: I have been working in mainland China and Hong Kong for over 20 years with some leading MNCs as accounting manager/controller/finance diretor, and am now a senior financial consultant for small and medium size firms. I took both parts of the CMA exam (New Program) last month and it seems that I might have passed - at least I was allowed to proceed to the essay parts - anyway, the results are due early next month. I also have an MBA in finance from Hong Kong.
As a financial expert with significant international exposure, please make some assessment of my job prospect in UAE and the rest of the Middle East. Will be very glad to treat you to dinner if I wind up landing a job in UAE.
Hi Victor,
I have seen several Chinese nationals who are working here in the UAE. In fact, even Chinese construction companies are able to operate here, so I am quite pretty sure you can obtain a work permit here if you get employed. I am sending you a separate response (PM) re your other queries.
Thank you so much, Angel - very, very helpful information!
Certification does help!
Today I have just received my letter of promotion to the position of Assistant Finance Manager. Let this be an encouragement to everyone, especially to those who are having second thoughts about pursuing the CMA certification.
This is truly a wonderful gift from God.
First, congrats on yr promotion, Angel. Was your CMA designation the deciding factor in landing the job in UAE? did u fail in your attempt to get the job before your CMA certification? Thanks a lot in advance.
Victor, I already have a stable job even before I decided to pursue the CMA certification early this year. It sure did help in my getting promoted. Some time in late Aug I tried to send my updated CV (with the CMA designation as additional qualification) to a premier head hunter via email. Within minutes from sending it I immediately got a call back from them for a preliminary interview. This has never happened when I first came to UAE in 2006 to look for a job. Based on my own personal experience, the CMA title indeed does make a great difference in job hunting in this part of the world.
Angel, thanks a lot for the great information. It seems thant CMA does help, but your (US?) CPA also seemed to have played a role, that's why I am also preparing for the US CPA exam. IMA may have worked especially hard to promote CMA in the Gulf region, making it popular there.
You are a man of courage having coming to UAE without first securing a job, giving that it is such an expensive place to live.
I wish you still greater success in yr career!
Have a nice day!
Congratulations Angel!!!
Thanks, Angela and Victor. Hard work pays off, and the reward is more than what you could imagine, in all aspects.