With a rapidly developing economy, the Banking and Finance industry has become one of the most demanding and crucial sectors of India. The demand for skilled professionals for various finance roles has increased. From investment banking and corporate finance to financial planning and analysis, individuals can explore a wide range of career paths in India’s finance industry. Additionally, with the government’s focus on initiatives like Make in India and Digital India, there are also emerging opportunities in sectors such as fintech and sustainable finance.
Finance professionals are hired by companies in India and around the world, and the demand for them is only increasing. But how do you stand out in a sea of rising finance professionals? Whether you are a student, have recently completed your studies, or are a working professional, you may always transition to finance by taking one of the top finance courses in India, which are discussed below.
Chartered Financial Analyst by CFA Institute
If you are looking into making a career in Investment Banking roles, then CFA is the perfect choice for you. After enrolling into CFA, you will learn a variety of finance oriented topics like portfolio management, equity, derivatives, economics as well as ethics.
- Structure: 3 levels of written exam and minimum 4000 hours of work experience to get the charter.
- Duration: It is advised to keep at least 6 months of preparation gap between each level. Expected amount of time to complete the course is 3-4 years.
- Eligibility: Candidates should be enrolled in an undergraduate course with at least two years remaining to register for Level I exam.
- Job Prospects: Major banking and financial institutions hire CFAs for roles like financial analyst, portfolio manager, investment banking analyst etc.
- Average Salary: As a complete fresher with CFA designation, starting salary ranges between INR 6 lakhs to 8 lakhs. With experience you earn up to INR 28 lakhs to 44 lakhs per annum.
- Major Companies you can get into: Goldman Sach, Morgan Stanley, Wells Fargo
Financial Risk Manager by Global Association of Risk Professionals (GARP)
With growing uncertainties, companies are becoming conscious and investing in risk management heavily. If you are someone who is interested in risk management, then I would suggest going for the Financial Risk Manager (FRM) course by GARP. Risk management is heavy on the quantitative side and requires you to be good with numbers, reasoning and analysis of potential risks in the market. It includes topics like quantitative analysis, risk models and valuations, market risk, credit risk, operational risk and current issues.
- Structure: 2 parts of written exam and minimum 2 years of work experience in the relevant field to get the charter.
- Duration: It is advised to keep at least 6 months of preparation gap between each part. Expected amount of time to complete the course is 2-4 years.
- Eligibility: Candidates should be at least 18 years old and passed 10+2 examination.
- Job Prospects: Major banking and financial institutions hire FRMs for roles like risk analyst, credit risk manager, regulatory risk manager, market risk specialists etc.
- Average Salary: Average of a new FRM holder ranges between INR 4 lakhs to 20 lakhs per annum.
- Major Companies you can get into: JP Morgan, KPMG, IBM, Reserve Bank of India (RBI)
Chartered Alternative Investment Analyst (CAIA) by CAIA Association
In the foreseeable future, institutional investors would be more inclined towards alternative investments. So if you are looking into making a career in alternative investment management, CAIA is the right choice for you. It is the third and last crowning jewel of finance, along with CFA and FRM. which mainly deals with alternative investments.
- Structure: Candidates must pass 2 levels of examinations and have at least 4 years of work experience.
- Duration: Unlike FRM, you have unlimited time to pass Level 2.
- Eligibility: Hold bachelor’s degree or its equivalent.
- Job Prospects: You can find yourself in the roles of asset allocator, risk manager, fund administration and consultant.
- Average Salary: it ranges somewhere between INR 5 lakhs – INR 25 lakhs per annum.
- Major Companies you can get into: Merrill Lynch, Wellington Management, Morgan Stanley, UBS AG, BlackRock
Financial Modelling
Financial Modelling is one the highly required skills for any finance professional. It is the process of forecasting financial performance of the company. Different dynamic models like discounted cash flow model, mergers and acquisitions model, scenario and sensitivity analysis can be built using this skill. Anyone with a basic understanding of Microsoft Excel can do this course. You can find many videos relating to Financial Modelling courses online. One such course is the Financial modelling and Valuation course of WallStreet School.
Some of the ways financial models can be used to decide on:
- Capital Budgeting
- Valuing a business
- Financial Statement Analysis
- Ratio Analysis
- Raising capital
Chartered Institute of Management Accountants (CIMA)
CIMA is a global charter for management accounting which prepares the student to work in banks, audit firms, and e-commerce.
- Structure: Has four levels: Certificate Level ,Operational Level ,Management Level, Strategic Level
- Duration: 2-3 years
- Eligibility: 10+2 and enrolled in an undergraduate degree of any field.
- Job Prospects: Major roles that you can get into are Finance Manager, Management Consultant, Management Accountant, Finance Business Partner, Financial Accountant, Business Analyst, Accounts Assistant
- Average Salary: it ranges from INR 5 – 10 lakhs per annum for freshers.
- Major Companies you can get into: A H Worth & Co Ltd, Abbott Ireland, AbbVie Ltd, Absa Bank, Accenture
Association of Chartered Certified Accountants (ACCA)
It is a UK based accounting course and is the most prestigious for the students who want to build a career in Accounting. ACCA shapes students for technical expertise in the field of finance and accounting for senior management roles.
- Structure: comprises 13 exams and 3 courses: Knowledge, Skills and Professional. After passing 13 exams, candidates are required to submit 36 months of work experience plus complete a module in Ethics and Professional Skills.
- Duration: 1-7 years. There are certain exemptions for the level of education of the candidate.
- Eligibility: 10+2 with minimum 65% in Accounts/Maths and English, 50% in other subjects
- Job Prospects: Major roles that you can get into are compliance officer, forensic auditing, internal auditing, treasurer etc.
- Average Salary: it ranges from INR 7 – 19 lakhs per annum.
- Major Companies you can get into: Ernst & Young (EY), Deloitte, KPMG, PWC and Grant Thorton
Chartered Accountancy (CA)
CA is one of the famous and difficult courses among the students in India who wish to pursue a career in Accounting. It is offered by Institute of Chartered Accountants of India (ICAI) and provides in-depth knowledge on topics like accounting, auditing and taxation.
- Structure: Consist of 3 levels: Foundation, Intermediate and Final. Students are required to complete Articleship before their Final level.
- Duration: 5 years
- Eligibility: Passed 10+2 and students can pursue bachelor’s degree while doing CA.
- Job Prospects: Major roles that you can get into are Internal Auditor, Tax Auditing, Statutory Auditing.
- Average Salary: it ranges from INR 7 – 14 lakhs per annum for a fresher.
- Major Companies you can get into: The big 4: Deloitte, KPMG, PWC and EY.
Certified Management Accounting (CMA)
Cost and Management Accounting (CMA) is a prestigious global course for students interested in the planning, budgeting and forecasting decisions. Some of the topics in this course include: Management, Regulatory Framework, Strategy, and Financial Reporting.
- Structure: Consist of 3 levels: Foundation, Intermediate and Final
- Duration: 1- 3 years. Exams are held twice a year.
- Eligibility: Passed 10+2 and bachelor’s degree from a recognised university.
- Job Prospects: Major roles that you can get into are Internal Auditor, Cost Accountant, Finance Manager, Assistant Finance Manager
- Average Salary: it ranges from INR 5 – 12 lakhs per annum.
- Major Companies you can get into: L&T, Capgemini and Haier.
Lastly
You may choose your area of interest and decide on which course you want to enroll into. All the courses and certifications are globally recognised and demanded. These courses have tremendous growth opportunities.
For more information and guidance on the courses like Financial Modelling, CFA, FRM, CMA, CIMA and ACCA, visit The WallStreet School
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