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Hi,
Both the courses have a place of their own in the real and corporate world. I am going to talk and discuss considering that you are an Indian and seeking Job opportunities in India, and you are not planning for further studies.
CA (Chartered Accountancy) is one of the oldest and most reputed professional courses currently being offered in India. Best part about CA is it is internationally recognised and India CA's are considered one of the best in the world in terms of accounts and understanding and interpreting the Law. CA is considered one of the toughest exams in the world. Now, I will move on to the real-life importance of CA.
CA is more practical life and mind puzzling and much more in the direction of interpreting the statutes to conclude their practical implications. Indian economy is widely based on this profession. A CA does not have a cap on his income and there is no concept of retirement, rather CA's value increase with time. But the biggest challenge in this profession is, it is as much as experience oriented but also there is always a need to keep ourselves up to date with various changes in the law.
CMA (Cost a d Management Accountant) is on emergence in India, but the demand is still very low and hence, the regulating body keeps the result way too low, so as to control the number of CMA's in the country. CMA is more based on analytical skills and understanding the Concepts of Cost related issues and better management decisions. In India, modernisation has taken a lead but still, most of the industries do not focus on Cost cutting and better management which is why they do not feel any need of CMA's and hence, the demand is very low. CMA's are paid well but jobs are few. But this profession is in great demand overseas. Now, let me answer your question:
Monetary Terms CA is better. Job Availability CA is better. Scope and knowledge enhancement CA is better (there is way too much to learn, which is nearly impossible for a single human being to comprehend)Opportunities in CA are better. (Unlimited, as a CA performs and works in 100's of fields and also as per some laws, they are allowed to perform functions of a CMA too but not vice versa).
But, what I would say is, it is a matter of personal opinion and judgement because no profession or course is better or worse, it is just the interest of an individual that decides what is better.