Finance is one of the most sought-after subjects or even skills worldwide. It opens up the opportunity to work in the top investment banks, private equity, venture capital and hedge funds, consulting firms, and a host of other public organizations. It is a glamorous job where you will be dealing with the biggest trade deals across the world. Areas like mergers and acquisitions, equity analysts, sector specialists, debt market experts, commodities, and derivatives are demanding job roles that professionals always look up to. But how will you get entry into the world of finance? This blog discusses the most prominent courses that you must take to start your career as a finance professional.

ACCA (Association of Chartered Certified Accountants)

The Association of Chartered Certified Accountants (ACCA) is a global accounting body, established in 1904. It has more than 200,000 members and its exams are conducted in 180 countries across the globe. ACCA certification is widely acknowledged and is the stepping stone in building a great career in Finance and accounts. In India, all the big four audit firms like KPMG and Deloitte hire ACCA candidates exclusively for specific job roles and the salaries are quite high. 

The job roles vary widely from being an internal auditor, tax accountant, risk manager, treasurer to credit research, and forensic audit. The initial salaries vary between INR 3.5-4 lakhs p.a. but with some years of experience, it skyrockets and since this is a global certification, getting a job abroad becomes easily obtainable. If you are a commerce graduate, with hard work, this class can be completed within a year. With that, you must also have mandatory 36-month industry experience in a relevant role.

ACCA is an online course that makes classes accessible from anywhere. In fact, MyFavTutor has some very experienced private tutors in India handling this course. You can check that out also.

CMA (Certified Management Accountant)

The Certified Management Accountant is a global certification, which has produced management accountants across the globe, giving the course very high credibility among learners. It takes roughly 12-18 months to complete the course and an average of 150-170 hours of study for the two segments. 

To get a CMA degree, a student must have 2 years of experience and a bachelor’s degree in commerce or accounting. In CMA, you will have to study financial reporting, cost management, corporate finance, decision analysis, risk management and investment decisions. As a newbie, your salary will range between INR 4-6 lakhs p.a, which is a decent start in India. 

The job role of a CMA professional is mostly related to cost accounting and financial risk analysis in the top end organizations. It is a very prestigious career and it has to be studied online only. Check out MyFavTutor, and connect with some experienced CMA tutors to begin your classes. 

CPA (Certified Public Accountant)

Certified Public Accountant is one of the most demanding finance and accounts certification both in India and abroad. This is considered to be the highest accounting degree in the world and to be eligible for CPA, you must have an accounting or finance degree like MBA/MS finance, B.com/M.com, or CA/ICWA/CS in India.

Broadly CPA has four sections that you need to study; auditing, financial accounting, regulation, and business environment. If you can clear all the four parts and successfully pass the course, then you can work as an accountant anywhere in the world. 

As a qualified CPA, you will get jobs in audit firms, investment, and research firms. Hedge funds, private equity, banks and many other financial sectors. The average salary of a CPA in the US is between $66000 to $137,000 p.a while in India, it ranges between INR 3-7.5 lakh p.a depending on the company and location you are joining. So get your study materials ready and study the course for a quick rise in your career.

CFA (Chartered Financial Analyst)

The Chartered Financial Analyst (CFA) is considered to be the top certificate in the finance and investment industry. It prepares you for investment banking, equity research, portfolio analysis, and various other things. The CFA degree is recognized in 165 countries and is one of the toughest courses to crack. If you want to build a career in finance, then this is a very important course to do. It will teach you financial statement analysis, fixed income markets, asset valuation, quantitative economics, and advanced trading techniques around the world. To study this course, you should have 4 years of full-time relevant work experience and a graduate degree. 

The average salary of a CFA professional is around $300,000 in the USA, while in India, it ranges from INR 4-12 lakh, depending on the company you are joining. The bulge-bracket firms obviously will pay you more and medium-size firms have a lower pay scale, but your career prospects will soar once you have done CFA. So join any online course to get guidance and take additional help from finance faculties, here at MyFavTutor.

ICAI (Institute of Chartered Accountants of India)

Chartered Accountants is a very high paying and respected career in India. It is one of the toughest examinations to clear and has 3 sections, which can be completed within a span of 3.5 years along with an internship program. The course comprises of business economics, corporate laws, taxation, advanced accounting, financial reporting, strategic management, tax laws, and others. 

You can join as an accountant/auditor/finance manager as a fresher and earn around INR 6 lakhs in the beginning. Most B.com students study CA and start their preparation early, to avoid career gaps later on. If you have a strong aptitude for number crunching, then begin your CA classes, with expert tutors, here at MyFavTutor