Earning your certified management accountant designation is a simple way to practically guarantee yourself a six-figure salary. But unless you’re Scrooge-McDuck-swimming-in-gold levels of rich, there’s one thing you absolutely need to know: how much is this going to cost you?
The CMA exam fees are just the start. You’ll also need to budget for membership fees, prep materials, retakes, and ongoing certification costs. But don’t stress—there are plenty of ways to save, and I’ll walk you through them all.
Let’s break it down so you know exactly what to expect (and how to keep costs as low as possible).
Key Takeaways
- Total CMA Costs Vary: Expect to spend between $1,615 and $4,085, depending on whether you’re a student or a professional.
- You Must Pay Multiple Fees: Costs include IMA membership, the CMA entrance fee, exam fees, and optional review courses.
- Retakes Can Get Expensive: If you fail a section, you’ll need to pay the full exam fee again—either $370 or $495 per part.
- Student Discounts Help a Lot: Student candidates pay lower fees for IMA membership, the entrance fee, and exam registration.
- There Are Ways to Save: Discounts from CMA review courses, employer reimbursement, and free CPE options can help cut costs.
How Much Does It Cost to Take the CMA Exam?
IMA Membership Fee 💳
Before you can even register, you have to join the Institute of Management Accountants (IMA). It’s a non-negotiable, but you get a lot of worthwhile perks like free and discounted CPE resources, career-boosting webinars and publications, and even digital and in-person networking opportunities.
- Professional Membership: $295 per year
- Academic Membership: $160 per year
- Student Membership: $49 per year
💡 Pro Tip: Grab the student membership if you’re still in college—it saves you almost $250!
CMA Entrance Fee 🎟️
This one-time fee enrolls you in the CMA program. You’ll also unlock CMA study materials and resources as a little gift from the IMA.
- Professional Candidates: $300
- Student/Academic Candidates: $225
💰 Pro Tip: Some CMA review courses, like Becker, Gleim, Surgent, and CMA Exam Academy, offer CMA discounts on the IMA membership and CMA Program entrance fee.
CMA Exam Fees 📝
The CMA exam has two parts, and you pay for each separately.
- Professional Candidates: $495 per part ($990 total)
- Student/Academic Candidates: $370 per part ($740 total)
If you fail, you’ll have to pay the full fee again to retake a section.
CMA Review Courses 📚
A CMA review course isn’t required, but let’s be real—trying to pass without one would be brutal. Prices typically range above $600 to $2200.
Popular options:
- Becker: frequent deep discounts available
- Gleim: excellent practice questions
- Surgent: known for reducing study time
- CMA Exam Academy: includes coaching and support
- Hock International: great as a supplemental resource
💡 Pro Tip: Look for payment plans or seasonal sales—also, some courses offer interest-free financing. Find them here in our Sacramento Bee CMA course guide.
Travel & Testing Center Costs ✈️
The CMA exam is only offered at Prometric testing centers. If there isn’t one near you, you might need to budget for travel.
- Gas, flights, or train fare
- Hotel stay if needed
- Food and other expenses
💡 Pro Tip: If you have to travel, try scheduling both CMA exam dates in the same trip to save money.
What About Ongoing Costs After You Pass?
Even after you earn your CMA, there are yearly costs to keep your certification active.
- IMA Membership Fee: $295 for professionals, $160 for academics, $49 for students
- Continuing Professional Education (CPE): ~$300–$600 per year
CMAs need 30 CPE hours annually, including two ethics hours. Some employers cover this, so make sure to check before shelling out your own money. And yes, this “meeting” can totally be an email.
How to Save Money on the CMA Exam 💰
The costs add up fast, but here are a few ways to cut expenses.
1. Use Student Discounts 🎓
If you’re still in school (or recently graduated), get the student IMA membership to save hundreds on fees.
2. Look for CMA Review Course Discounts 🔖
Many CMA courses offer year-round discounts, seasonal sales, bundle deals, and student pricing. Some even allow payment plans so you don’t have to pay upfront.
Take $600 Off Surgent CMA Ultimate Pass
Becker CMA Advantage on Sale at $1,599
Sale – Becker CMA Exam Part 1 Now $899
Deal – Becker CMA Exam Part 2 Now $899
Save 20% on CMA Exam Academy Review Course
3. Ask Your Employer About Sponsorship 💼
Some companies reimburse CMA fees as part of professional development. Talk to HR—you might not have to pay at all!
4. Pass on Your First Try ✅
Retakes cost an extra $370-$495 per part; there’s no discount for retakes, so it’ll be like paying for your first try all over again. A solid study plan can save you money in the long run.
5. Find Free or Low-Cost CPE Credits
Once certified, look for free CPE courses from professional organizations or CMA review providers. IMA has a couple themselves, which you can access as part of your membership fee.
Final Thoughts: Is the CMA Worth the Cost?
Becoming a CMA is expensive, but it’s also a career game-changer. CMAs earn more, qualify for better jobs, and have stronger career growth opportunities.
The key is budgeting smartly, using discounts, and planning ahead so the cost doesn’t feel overwhelming. With the right strategy, you can earn your CMA without going broke!
I hope some of these tips helped, and I wish you the best of luck in your grades and your green.
FAQs
The total cost ranges from about $1,615 to $4,085, depending on your IMA membership type, exam fees, and whether you buy a review course. Travel and retake fees can add to the total.
Yes, but it’s manageable with the right preparation. The hardest parts are the wide range of topics, time pressure, and essay section, but a solid study plan makes a big difference.
It depends on your background. The CPA exam covers more topics, while the CMA exam focuses on management accounting and includes essay questions that some candidates find more challenging.
There’s no limit on retakes, but you must pass both parts within three years of enrolling in the CMA program.
You need a minimum score of 360 out of 500 on each part to pass. Scores are scaled, and partial credit is given for essays, so strong problem-solving skills can help boost your results.
