Corporate Monkeys,
What do you think of the CMA designation in regards to how beneficial it is for a career in Corp Dev? I am currently in a mid size company in energy and utilities, and I have a background in Economics & Math. I didn't study any accounting at University and studied a minimal amount of conventional finance (although my classes in other fields prepared me really well to tackle any finance material I come across). I've been trying to improve my accounting and valuation knowledge through various online resources, although I have a feeling that I will always lack some of the fundamentals since I don't have an ACC / FIN degree. I've been looking at CFA and CMA designations lately, and it seems like CFA adds marginal value for a Corp Dev role. CMA seems like it would fill the gap for me. Is it regarded with respect in the industry? Is the CMA a desired designation for more senior roles? Or is it a waste of time that will have marginal benefits when I try to propel myself out of my current role to a more senior one, inhouse or an F500?
Interested in the answer as well. Are you currently in corp dev or looking to go from corp fin into corp dev?
I'm currently in Corp Dev. Very small and lean team so I take on a multitude of responsibilities.
I don't think I've ever come across anyone with a CMA designation within CD (maybe a CPA?).
Unless for some odd reason someone above you is pushing for you to get it, I would think it would be a waste of time. I'd just take some night/online accounting courses in the areas you are weak in if you really are that worried about it.
No one above is pushing, I just want to pursue a certification that will help my weaker skills and be meaningful towards my progression in the field on paper, without me having to explain why I went ahead and did a certain designation. Would you recommend the CFA over CMA? Or is it just an even bigger waste of time for CD?
I haven't seen any CD folks with it, or if any of them did have it, it's never come up. I don't think a CMA would be worth the time and effort.
Thanks for the input. What designation would you recommend instead?
To be honest, an MBA is probably the only additional degree that might be worth it, and even then, it's on a case-by-case basis.
No, the CMA it isn't respected or really known in the industry at all. CFA would carry more weight, but marginally so and really only demonstrates that you have a diverse knowledge of finance, but nothing specific to deals.
Most direct path: MBA > iBanking for 2 years > Exit into Corp Dev role
Other paths: Internal transfer, but you will have to demonstrate knowledge. MBA still a good choice to get fundamentals, then CFA as a differentiator. CMA would be dead last on the list, for me anyways.
Agree with this. Even as an accountant, the CMA is more of a trophy certification unless you're in manufacturing or construction related roles. In that case it might come in very handy in job searching and on the job.
Otherwise, MBA > IB for sure.
I would even consider "strategic business professional" or "certified valuation analyst" type certifications over the CMA for corporate development.
I have a CMA, and don't even list it on my resume for matters of relevance.
Honestly, my company has a board member that is also on the board of the IMA, so it's heavily pushed for recent grads to take it for quicker promotion & an extra bonus. Had that not been the case, I wouldn't have blinked twice at taking those tests, I wouldn't recommend it b/c as other posters have said it has not yet / won't get as much industry recognition as more rigorous certifications (CPA / CFA / MBA)
Thank you for sharing in detail
Lol CMA is a joke. How the hell is this even compared to CFA?
I wouldn't get a CMA in general for anything. Studying for the CPA now, and most people don't know what it is. However, a CPA would definitely be a plus.
In my corporate development (20 people) group there are very few with any certification. Perhaps the most fitting would be a CPA. There seem to be a few tickets into the group, each offering a candidate varying levels of seniority. 1) ex-bankers (typically VPs) becoming M&A managers for lifestyle benefits, 2) MBA rotational program (top schools land in CD) as junior M&A managers, 3) internal hire of high performing analysts or those who were exposed to transactions in another role. The common thread among CD lifers in our group is industry knowledge. The bankers learn it in their vertical, the high potential MBAs are given a long leash and interesting projects, and the high performing analysts learn in their first few roles. As an internal analyst transfer I believe I've taken the easiest path, w/o the banking hours or MBA cost, but find myself consistently looking over my shoulder waiting for a better pedigree to pass me up, whether it will or will not happen.
About 5 weeks in to my role within a Corporate and Market Development group...we have a team of 6. We operate solely within the healthcare delivery space.
SVP and VP: Neither have an MBA. SVP was previously CIO; VP was the prior Controller for our organization.
Manager and Senior Analyst (me): Both have an MBA and 5-7 years of experience. Mgr comes in with a marketing background; I bring the Corporate Finance/Treasury/Capital Formation aspect. We're very much interchangeable; the Junior Analysts technically report to him but I've already gotten in to a lot of the coaching/development of my junior colleagues.
Analysts (2): Both fairly new out of school (one right out of school who interned here, another had one year of operations work within the organization). Wouldn't be surprised if both head down the MBA path in a few years.
No CPAs, CFAs, CVAs, or CMAs on the team. I'm considering the CFA or CVA route given what I do in this organization and my background. The CVA might be helpful, but for various reasons we'd still outsource that. The CFA is unknown around here; would be solely for my benefit and to develop potential exit opportunities (for which I likely wouldn't need the CFA, anyway)
I'll second that Industry Experience and Contacts within that industry will be what drives my career forward from here.
Comparing the CFA to CMA or even CPA is just ludicrous...
I know it's a broken record, but I don't think the CMA will provide you much value. Neither will a CFA if you don't have a normal background for someone with the designation. Some might have a CPA, but yet again I think they are remnants of prior lives.
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