CIMA (Chartered Institute of Management Accountants) is an institute which offers courses on management accounting and was set up in 2006. Management accounting combines accounting, finance and management with the leading edge techniques needed to drive successful businesses.
In the last few years, the salary offered to students who have graduated from CIMA have seen a gradual rise. According to the CIMA India Salary Survey 2013, the average annual salary of an employee who has completed operation-level CIMA is around Rs. 10.58 lakh, and students who have completed all levels successfully can expect a salary package of Rs 30 lakh or more, which is an 8.8% increase from 2012. UK is the most preferred location to work for CIMA members. Australia, Singapore, USA and Canada are also favourites among CIMA graduates.
For the past few years, the popularity for management accountancy courses have gained popularity among students across the world. CIMA has become one of the preferred choice for students who want to pursue a career in management accountancy. Debasish Biswas, the head of CIMA in India feels that this is because of CIMA's focus on industry linked syllabus and practical applicability of knowledge. The fact is that a professional qualification from CIMA is recognised in 177 countries worldwide. This qualification is also affordable with the fee for the total three years course ranging between INR 1.30-1.50 lakhs.
"The student base in India is over 5,000 and it has grown by about 60% in 2012-2013.", says Biswas.