Career progression is dependent on successful completion of each level of the Chartered Institute of Management Accountants (CIMA) qualifications. Post-qualification promotion depends on experience gained and skills developed, such as project management and transferable skills, e.g. communication and teamwork.
Continuing professional development (CPD) is also very important and CIMA-qualified accountants are invited to attend training workshops and industry networking events on a regular basis.
Experience of working on specific projects may lead to becoming a specialist in a certain field. It may also enable a move to a more strategic role in general management.
Mobility will aid advancement and it may be necessary to look outside a company to gain promotion. Companies may also expect employees to move to different locations while training, in order to gain maximum exposure to the business.
Progression can be to senior positions such as finance director and possibly chief executive - roughly 20% of chief executives in the FTSE 100 are qualified accountants. After three years' strategic experience in a senior role, it is possible to apply for Fellowship of CIMA (FCMA), offering increased recognition and career potential.
The skills acquired from studying the CIMA examinations, combined with related experience, can open up other career options. Many CIMA members work in diverse areas such as management consulting, business analysis, operations management, risk assessment and project management. Many will also use their financial management skills to become successful entrepreneurs.