[Updated 2023]
We all understand that the field of finance is quite vast, it encompasses numerous job opportunities that can be attained by completing Finance professional
courses. In this article, let us give you an insider peak at various finance courses and all of the frequently sought-after questions related to a successful
career in Finance. First, let's discuss the In-demand Finance courses in India which are as follows:
The Association of Chartered Certified Accountants is an accounting body based in the UK. It offers the ACCA qualification, recognized globally in more than 178 countries. The course duration is about 6-24 months, and a professional with an ACCA qualification can expect an average salary ranging from INR 7-19 lacs per annum. Job roles for these professionals include Accounting Advisory, Forensic Auditing, Internal Audit, Risk Advisory, and Mergers and Acquisitions.
Read: ACCA Course Duration After Bcom, 12th & CA?The Association of Chartered Certified Accountants is an accounting body based in the UK. It offers the ACCA qualification, recognized globally in more than 178 countries. The course duration is about 6-24 months, and a professional with an ACCA qualification can expect an average salary ranging from INR 7-19 lacs per annum. Job roles for these professionals include Accounting Advisory, Forensic Auditing, Internal Audit, Risk Advisory, and Mergers and Acquisitions.
Course Duration: 6-9 months
Average Salary: 6.5 and Upto 50 Lacs
Chartered Financial Analyst (CFA) is one of the most sought-after courses in the finance field in India after graduation-level studies. This course covers topics such as investment tools, portfolio management, asset valuation, and more. Students interested in investment management will find this course ideal. The CFA course lasts for about two to three years, and the average annual salary for a CFA in India ranges from 6-15 lacs.
Course Duration: 2-3 Yrs
Average Salary: 6-15 Lacs
Chartered Financial Planner (CFP) is another course that has global recognition. The Financial Planning Standards Board (FPSB) offers this course to finance Professionals. The scope for developing one's career and self in this market is commendable and opportunities are endless.
Course Duration: 6 - 24 months
Average Salary: 3.5 - 10.3 Lacs
Choosing the course for Company Secretary is one of the most prevalent options for students after completing their 12th-grade education. The Institute of Company Secretaries of India or the ICSI offers this course, which lasts for 4 to 5 years. The average salary for a new Company Secretary can range between 3.6 to 12.7 lacs on an annual basis.
Course Duration: 4-5 Yrs
Average Salary: 3.6- 12.7 Lacs
The Financial Risk Manager (FRM) course is also popular in the field of finances. It is a US-based course, and the Global Association of Risk Professionals (GARP) offers it. The course lasts about 2 to 3 years, and the average annual salary that an FRM can expect ranges between 3.2 to 5 lacs.
Course Duration: 2-3 Yrs
Average Salary: 3.2-5 Lacs
| Qualification | Course Duration | Average Salary (per annum) |
|---|---|---|
| ACCA | 6-24 months | INR 7-19 lacs |
| CMA | 6-9 months | INR 6.5-50 lacs |
| CFA | 2-3 years | INR 6-15 lacs |
| CFP | 6-24 months | INR 3.5-10.3 lacs |
| CS | 4-5 years | INR 3.6-12.7 lacs |
| FRM | 2-3 years | INR 3.2-5 lacs |
Please note that the salary ranges provided are approximate and can vary based on factors such as experience, location, industry, and individual performance.
Since the aspiration of every student is to establish a fruitful and reliable career after completing their finance courses, let us shed some light on some of the top courses in Finance that would ensure you get into a well-rounded and renowned organization. The following are the best job-friendly finance courses that students aspiring to establish their career in this field can undertake , let us have a look;
This is one of the crucial courses in the field of finance. It involves classifying, recording, and summarizing financial transactions for making financial statements. Investors, stakeholders, and creditors use the statements to evaluate the financial health of an organization.
These courses offer students a firm foundation in managerial accounting, financial accounting, and financial management. The course involves teaching budgeting, financial statement analysis, financial planning, and cost accounting.
These courses or services offer students a comprehensive understanding of the financial services industry. It includes aspects of financial markets, banking operations, risk management, and investment management. Students keen to opt for jobs in banking or financial services can benefit most from these services.
Already having discussed the prevalent finance courses available in India, among them, the courses for ACCA, CFA, and CA are the three most popular finance courses
one can pursue to ensure a secure career in this field.
Completing the ACCA examination can be a great strategy while completing the B.Com degree at the graduation level. The ACCA course is undoubtedly one of the
best courses available after 12th Commerce.
It has the potential to elevate your career trajectory and provide a plethora of career opportunities in the field of finance.
The ACCA certification has worldwide recognition and serves as an alternative at an International level for CA in India.
Students can also opt for a CFA course after completing their graduation-level education. The sectors of Investment, Wealth management, Portfolio management etc require professionals who are qualified CFAs.
Among the many finance certifications, the following 3 are the must-opt for certifications for aspirants looking to ensure a successful and secure career in the field of Finance:
The ACCA course is an exciting and beneficial option for students interested in accounting and finance, as it can greatly enhance their career prospects. The course has a duration of two years and is highly valued by multinational corporations (MNCs) for its certification. It is the best course after b com, as it opens great career options. Any professional with an ACCA certification can expect enhanced salary potential. The course and certification have global recognition, and students can pursue this course for certification right after completing their 10+2 education.
The institution for CFA courses is based in the US and includes three levels that candidates must pass to obtain the qualification of being a CFA. The course lasts for two and a half years and can take up to four years to complete. Aspirants must be at least in their last year of graduation to apply for this course, and additionally, they must have four years of experience in the field of investment.
The US CMA Course is one of the most popular courses in the field of finance. It is unlike regular accounting courses, as it offers information about decision making, planning, budgeting skills, and performance management. Additionally, it hands you all the skills and knowledge so you can level up the company for its institutional growth.
Read: Career Option after 12th Commerce - What to do After 12th Commerce?The fundamental finance course is BCom, which is an all-encompassing course for Accounting and Finance. The admission requirements for pursuing BCom in any institution include completing the 10+2 level of education with a minimum aggregate score of 50%. However, specific institutions may have additional requirements for admission into their BCom program. Additionally, colleges and institutions may have cut off percentages that determine eligibility for pursuing the BCom course in that particular institution.
Since there are different finance courses available, their syllabus differs accordingly. Let us take a better look at the syllabus of some of the most popular finance courses:
ACCA: The Association of Chartered Certified Accountants course includes topics such as financial accounting, performance management, business technology, audit and assurance, strategic business leadership, financial reporting, strategic business reporting, and many more.
CFA: The Chartered Financial Analyst course includes topics such as the investment industry, macroeconomics, microeconomics, ethics and regulation, the economics of international trade, quantitative concepts, and many more.
CFP: The Chartered Financial Planner course covers topics such as insurance planning, financial modeling, tax planning, budgeting, and risk analysis.
CA: The Chartered Accountancy course involves topics such as taxation, financial assessment, auditing, accounting, and similar concepts.
CS: The Company Secretary course involves topics such as the business environment, the roles of a company secretary, emerging trends in business and business functions, introduction to law and elements of company law, and elements of the Information and Technology Act.
FRM: The Financial Risk Manager course mainly deals with the analysis and control of credit, Potential liquidity, and Market risks.
Here's the information presented in a table format for better understanding:
| Qualification | Syllabus Topics |
|---|---|
| ACCA | Financial accounting, Performance management, Business technology, Audit and assurance, Strategic business leadership, Financial reporting, Strategic business reporting, and more |
| CFA | Investment industry, Macroeconomics, Microeconomics, Ethics and regulation, Economics of international trade, Quantitative concepts, and more |
| CFP | Insurance planning, Financial modeling, Tax planning, Budgeting, Risk analysis, and more |
| CA | Taxation, Financial assessment, Auditing, Accounting, and related concepts |
| CS | Business environment, Roles of a company secretary, Emerging trends in business, Business functions, Introduction to law, Elements of company law, Elements of the Information and Technology Act |
| FRM | Analysis and control of credit risk, Potential liquidity risk, Market risk, and related areas |
Please note that the syllabus mentioned above is a brief summary and may vary in terms of specific topics and depth of coverage. It is advisable to refer to the official syllabus provided by the respective institutions or certification bodies for comprehensive and up-to-date information.
Finance is a lucrative field as well as a field that requires a lot of Agility, Leadership, and Problem-solving skills. Hence, the salary offered to the candidate is based on the experience and the industry-knowledge possessed by the candidate. The expected salary packages for professionals completing above-mentioned finance courses are as follows:
ACCA: A professional with an ACCA qualification can expect an average annual salary ranging between 7 to 19 lacs.
CFA: A CFA in India can expect an annual salary ranging from 6 to 15 lacs.
CFP: A Chartered Financial Planner can receive an average salary ranging between 3.5 to 10.3 lacs per year.
CA: A fresher with a CA qualification can expect an average annual salary ranging between 7 to 14 lacs.
CS: A fresher in the field with a CS qualification can expect to receive an average annual salary ranging between 3.6 to 12.7 lacs.
FRM: The average salary that an FRM can expect on an annual basis can range between 3.2 to 5 lacs.
| Qualification | Salary Range (in lacs per year) |
|---|---|
| ACCA | 7 - 19 |
| CFA | 6 - 15 |
| CFP | 3.5 - 10.3 |
| CA | 7 - 14 |
| CS | 3.6 - 12.7 |
| FRM | 3.2 - 5 |
The field of finance extends numerous career paths, including;
Public Accounting: It includes recording and maintaining the flow of money for private companies and public entities.
Corporate Finance: It includes balancing profitability and risks, analyzing and forecasting economic trends, and reviewing company reports.
Investment Banking: It includes reviewing financial models and deals.
Portfolio Management: It includes guiding organizational policies on asset allocation and investment decisions.
Risk Management: It includes identifying market risks and poor investment outcomes, among other tasks.
By successfully completing Professional Finance courses, students gain access to many career opportunities and establish bright careers with handsome salary packages. Therefore, if you are a student aspiring in finance, pursuing finance courses can be highly beneficial for your career.