MBA graduates are looking to management accountancy to sure up their financial skills. But the qualifications open doors to a wide array of sectors.
When Rob Johnson graduated from Bristol Business School in 2006, he moved into a senior marketing manager’s role at his then employer Orange, the former British telecoms giant. But after the financial crisis, like many MBAs he sought a new opportunity in financial management.Instead of turning back to business school, Rob opted for the Chartered Institute of Management Accountants (CIMA), the world's largest professional body of management accountants. After a year of training he was hired by EE, a mobile and broadband network formed from the rump of Orange and T-Mobile.
“The CIMA qualification was an obvious choice due to the importance it places on financial skills,” says Rob, who joined EE as a senior finance manager.
He is a big advocate of the CIMA management accountancy qualification. He believes it offers a more structured approach to finance than an MBA degree. This structure helped him to gain promotion at EE to a strategic planning manager.
“The CIMA qualification has huge credibility amongst peer groups and superiors,” says Rob.
Far from conflicting with his MBA, the qualification enhanced it. “The CIMA qualification places emphasis on strategy and has a strong commercial focus, which complimented by MBA studies,” he says.
Rob illustrates the way business school graduates are able to move up in their careers by gaining additional financial qualifications.
But Peter Stewart, CIMA’s director of learning, says CIMA qualifications extend beyond the scope of traditional accountancy programs to incorporate managerial training in areas such as corporate assets and risk management.
“[The] qualifications provide professionals with competencies that meet a wide range of employer perspectives,” he says.
While once accountants were known as “bean counters”, today many of them are enjoying a wide range of management careers. About 50% of CEOs leading FTSE100 companies have an accountancy or financial management background, according to Robert Half, the recruitment firm.
Phil Sheridan, UK managing director, says: “The old guard of finance still holds sway, with executives with a background in accountancy and finance holding the reins of the UK’s top companies.”
CIMA has evolved its 2015 syllabus to meet the needs of businesses. Today, courses cover modern topics such as big data, sustainability and integrated reporting. “The changes have been driven entirely from the demand of businesses,” says Peter.
These changes have allowed CIMA to expand its reach. The organization is attracting students from business school programs as well as from the public sector, adding to its roster of 218, 000 global members.
“I was interested in pursuing a financial qualification that was relevant to both the public and private sector,” says Louise Thomas, an MPA graduate of Warwick Business School.
By gaining a management accountancy qualification, she was able to move into a leadership position in the Africa Directorate at the Department for International Development, a UK government organization that seeks to end extreme poverty.
Louise leads a team of 10 people who provide financial and project management support to policy teams. “My CIMA qualification continues to help me perform well in general management and leadership roles,” she says, adding that it built on many aspects of the MPA, or masters of public administration.
MBA graduates are able to join the CIMA syllabus through the Master’s Gateway route, an accelerated entry program which involves sitting five exams.
Managers are increasingly demanding more control over their mode of study, and CIMA’s flexible learning options will be attractive to those with a harried schedule.
Participants need not take a lengthy period off work, as is usually required to gain an MBA.
Louise says: “It’s an excellent opportunity to build on your skills and gain a well-recognised professional qualification, without necessarily having to study for four years.”
While business schools are renowned for their networking opportunities, even after graduation, CIMA offers “lifelong learning opportunities” to keep management accounting professionals up to date, according to Samuel Li, CIMA study support and learning manager.
Even for career switchers, accountancy training is recognised in a wide array of industries. “If I ever decide to move outside the public sector, CIMA will be something I can point to to help people understand what skills I can offer,” says Louise.
Then there is the cost. Accountancy exams are comparatively cheap to business school degrees, which can cost upwards of $100,000. CIMA says the qualification can be completed for around £1,700 – if taken over three years, and if a participant passes every exam on their first attempt.
For Rob at EE, the company has a five-year growth plan and part of his role is to ensure that they stick to the business strategy. He envisages himself as a strategic consultant in the long term.
“Many roles, once you start your journey within one set industry, you’re then pigeonholed to stay in that industry – but having CIMA status removes this barrier to entry,” he says.
“Being CIMA qualified gives me the flexibility to work across different industry sectors.”
Student Reviews
BSc Management with Marketing
I loved Warwick business school.
The staff is supportive, my academic tutor was key in my development throughout the 3 years and you have to meet with her/him every term. Most professors are helpful and would happily offer support if needed. You also have office hours and can contact professors by email and through the forum.
In general, WBS instills in you the willingness to learn and the resilience needed for you for whatever career you choose.
Very international community which broadens your horizon and makes you more open minded and self aware. You will most certainly make friends and memories for life. I recommend that you get outside of your comfort zone and try new activities with your friends!
WBS also has a great reputation and offers careers opportunities, and careers support throughout the degree.
There is the opportunity to do a year abroad to further develop on a personal level. I wasn’t able to do this due to Covid but I would have loved to do it during normal circumstances! Would definitely recommend this.
Although Warwick is not a city university, the campus vibe has a lot of advantages, especially at an undergraduate level. You are always around familiar faces, and in a student environment. Moreover, Birmingham is only 20 mins away from Leamington spa and London is only one hour away! Perfect for a day trip or a weekend getaway!
Life at Warwick Business School
Pursuing my master's degree at WBS has been a game-changer in my life. With high-quality education, interaction with students from across the world, amazing campus life and much more. I was able to learn about business, finance, project management and strategy all in one course: MSc in Management at WBS. Besides the top-notch education from the best professors, I also enjoyed being a part of fun societies and participating in fun activities such as scavenger hunts and so much more.
The school also organises many company visits and interactions which help students get a head start at finding a job. As my course came to an end, I also have a good full-time job placement in my hands.
Overall, my experience at WBS was a great one.
Outstanding
The Warwick Business School was like a dream come to life for me. The University ranking speaks for itself, from top-tier facilities to some of the best professors I had to honour to study with I fell in love with my course. Interactions with people from all over the world gave me a newfound confidence in myself.
Career prospects after graduating are endless due to the contacts of the universities and the success rate for previous students, it does open a lot of doors for students in various career fields. The campus life is quite good as well with a lot of student groups and clubs, and extra circular activities to engage students at all times. Loved my experience.
A good business school
It is a very cutting-edge, career-oriented business school, all courses are very practical, and the college does a very good job of career service. From the hardware and facilities to the staff, the student experience is at the core of the school and student satisfaction is taken very seriously. I understand that many universities in the UK are relatively traditional and can occasionally be rigid in terms of rules and regulations, and although WBS has a relatively short history, this makes it more innovative and dynamic, which is essential for a business school. The downside is that because it is on the outskirts of Coventry, it is a long bus ride to the city centre, not to mention the difference in experience from a big city like London.
Campus
The people, campus, staff. It’s a very enjoyable environment and it’s particularly good for learning and playing sports. The people there are extremely friendly and welcoming and it’s very easy to make friends
What I Like About Warwick
I’ve personally liked my experience at Warwick so far because of the amazing people I’ve gotten to meet and how many opportunities we students are provided with to learn and grow.
Within Warwick, I’m part of the Business School, a learning haven comprised of well-structured modules and extremely helpful people
All in all, a great place to be :)
Campus Life
One thing that stood out for me was the campus life, you felt like part of a community. The social aspects of the student union and on-campus accommodation meant you can easily get together and enjoy with friends. Additionally, I felt the course provided a variety of subjects allowing me to enhance my knowledge, from Marketing to Law and Finance. Overall I would most definitely recommend this university to friends and family.
Excellence self catered
The campus is very welcoming and Modern. There are many opportunities at Warwick but it is up to the student how do they want to make the most out of it and the staff at the school will definitely helo as much as possible. The location and the ranking have been amazing.
Warwick business school
Warwick business school is one of the best universities around the globe with a solid base of economic and business studies. Moreover, students get a chance to study in a diverse and warm environment with professional stuff which tries to provide the best opportunities for career development. One of the memorable features of the university are great events which sometimes take a place in one of the landmarks of the London city, the Shard building.
BSc Management with Marketing
I loved Warwick business school.
The staff is supportive, my academic tutor was key in my development throughout the 3 years and you have to meet with her/him every term. Most professors are helpful and would happily offer support if needed. You also have office hours and can contact professors by email and through the forum.
In general, WBS instills in you the willingness to learn and the resilience needed for you for whatever career you choose.
Very international community which broadens your horizon and makes you more open minded and self aware. You will most certainly make friends and memories for life. I recommend that you get outside of your comfort zone and try new activities with your friends!
WBS also has a great reputation and offers careers opportunities, and careers support throughout the degree.
There is the opportunity to do a year abroad to further develop on a personal level. I wasn’t able to do this due to Covid but I would have loved to do it during normal circumstances! Would definitely recommend this.
Although Warwick is not a city university, the campus vibe has a lot of advantages, especially at an undergraduate level. You are always around familiar faces, and in a student environment. Moreover, Birmingham is only 20 mins away from Leamington spa and London is only one hour away! Perfect for a day trip or a weekend getaway!
Life at Warwick Business School
Pursuing my master's degree at WBS has been a game-changer in my life. With high-quality education, interaction with students from across the world, amazing campus life and much more. I was able to learn about business, finance, project management and strategy all in one course: MSc in Management at WBS. Besides the top-notch education from the best professors, I also enjoyed being a part of fun societies and participating in fun activities such as scavenger hunts and so much more.
The school also organises many company visits and interactions which help students get a head start at finding a job. As my course came to an end, I also have a good full-time job placement in my hands.
Overall, my experience at WBS was a great one.
Outstanding
The Warwick Business School was like a dream come to life for me. The University ranking speaks for itself, from top-tier facilities to some of the best professors I had to honour to study with I fell in love with my course. Interactions with people from all over the world gave me a newfound confidence in myself.
Career prospects after graduating are endless due to the contacts of the universities and the success rate for previous students, it does open a lot of doors for students in various career fields. The campus life is quite good as well with a lot of student groups and clubs, and extra circular activities to engage students at all times. Loved my experience.
A good business school
It is a very cutting-edge, career-oriented business school, all courses are very practical, and the college does a very good job of career service. From the hardware and facilities to the staff, the student experience is at the core of the school and student satisfaction is taken very seriously. I understand that many universities in the UK are relatively traditional and can occasionally be rigid in terms of rules and regulations, and although WBS has a relatively short history, this makes it more innovative and dynamic, which is essential for a business school. The downside is that because it is on the outskirts of Coventry, it is a long bus ride to the city centre, not to mention the difference in experience from a big city like London.
Campus
The people, campus, staff. It’s a very enjoyable environment and it’s particularly good for learning and playing sports. The people there are extremely friendly and welcoming and it’s very easy to make friends
What I Like About Warwick
I’ve personally liked my experience at Warwick so far because of the amazing people I’ve gotten to meet and how many opportunities we students are provided with to learn and grow.
Within Warwick, I’m part of the Business School, a learning haven comprised of well-structured modules and extremely helpful people
All in all, a great place to be :)
Campus Life
One thing that stood out for me was the campus life, you felt like part of a community. The social aspects of the student union and on-campus accommodation meant you can easily get together and enjoy with friends. Additionally, I felt the course provided a variety of subjects allowing me to enhance my knowledge, from Marketing to Law and Finance. Overall I would most definitely recommend this university to friends and family.
Excellence self catered
The campus is very welcoming and Modern. There are many opportunities at Warwick but it is up to the student how do they want to make the most out of it and the staff at the school will definitely helo as much as possible. The location and the ranking have been amazing.
Warwick business school
Warwick business school is one of the best universities around the globe with a solid base of economic and business studies. Moreover, students get a chance to study in a diverse and warm environment with professional stuff which tries to provide the best opportunities for career development. One of the memorable features of the university are great events which sometimes take a place in one of the landmarks of the London city, the Shard building.
