My Payback Period of doing Cost And Management Accountant Degree is Less Than 3 Months

My Payback Period of doing Cost And Management Accountant Degree is Less Than 3 Months

This post is for all those who are looking for the best attractive career opportunities after passing the 12th examination. After 12th exams, there are many options available to the students but today I am sharing the best option with you. The payback period for this degree is only 2 months. Trust me, if you do this degree then you will recover the entire cost of education within 2 months only. For all parents, who are looking for the best career opportunities for their children, please read this article. I am writing this article especially for you.

The name of this degree is Cost and Management Accountants from the Institute of Cost Accountants of India. You can do this degree at passing your 12th exam from any discipline. Yes, it is not mandatory that for doing this degree, you must be from Commerce background only. This professional course is open for everyone. I know two of my friends who are from a science background and cleared this exam. Hence this is for everyone.

But before starting with the article, let us first understand how did I calculate Payback Period. To keep it simple, I have not considered any formula or definition for calculating the payback period for this course. What I have done is I calculated my total cost of doing this degree including books and miscellaneous and then divided this with my first salary package.

In simple words, I have calculated, how much time it took to recover my cost from my salary.

So, below you will find my total cost of doing this degree and the payback period. Please note the below-mentioned amount is estimated and round off to the nearest amount. For the exact amount, please refer the Insitute website. ( Of course, I have considered the upper cap amount)

38,000.00

Terms Amount
Foundation Exam
Fees        4,000.00
Exam Fees        2,000.00
Books Cost      25,000.00
Miscellaneous        5,000.00
Intermediate Exam
Fees      20,000.00
Exam Fees        2,000.00
Books Cost      25,000.00
Miscellaneous        5,000.00
Final Exam
Fees      17,000.00
Exam Fees        2,000.00
Books Cost      50,000.00
Miscellaneous        5,000.00
Total (A)    162,000.00
Others (B)
Toal Cost (A+B)    200,000.00

 

So, the maximum cost of doing Cost and Management degree is 2 lakhs rupees only. Now, after completing CMA, I got placed in the campus and got a starting salary package of 10 P.A.

So, based on this salary, by payback period is

Total Cost        200,000.00
Starting Salary P.A    1,000,000.00
Payback Period       2.40 Months

 

So, the payback period of recurring the incurred cost in Cost and Management degree is 2.40 months only.

Next, I know many of you will say What about the coaching fees? But please note that I have not done any coaching for clearing my CMA exam. I have cleared it through postal without any coaching. Yes, it is possible to clear the exam without any coaching. To know more about this please refer the below article

How to Plan CMA Exam without Coaching

Over to You

To all parents, I don’t understand, if such professional degree is available in the market then why do you insist your children on doing Engineering or any other degree? Don’t you think, this degree is the best choice for career development. Doing HSC from Science background in itself involves 2 lakhs of cost whereas you can do the entire CMA degree in 2 lakhs only.

So, instead of doing Engineering, I suggest you all parents, in fact, request you all to please explorer this option for your children. If you want any additional information then you can check it’s official website or you can also contact us. We will be happy to help you.

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