It is not “Survival of the fittest” anymore; it is “survival of the sharpest”. With the world moving faster than we can imagine and changes taking place at every turn and every field, the only way to keep up is to run along, if not faster. Change is the only thing constant, and people and organizations are looking for those who can contribute more, contribute differently, create an impact and bring about change. We cannot pinpoint one field or sector where there is growth. From Psychology to Finance opportunities are flourishing everywhere. With every nook and corner of the globe being well connected (thanks to technology), the job opportunities and competition in every arena are also increasing, and with everything easily accessible to everyone, our main aim is to stand out in the crowd. The motto each of us should focus on is “what makes me different.” Sharpening your skills and enhancing your knowledge is always an asset and will continue to do so. Therefore, a certification in finance and accounting is a giant leap toward improving your marketability and career advancement as a professional in this field.
As mentioned above, with the world being connected better than ever before, nothing short of globally recognized certifications can help you stand apart. Businesses and human resources managers consider the time spent on providing their employees certification courses/programs (tool to sharpen their skills) as a long term asset for the company and hence every tool in your pocket is your added advantage that will give you an edge while being hired for a job role in any firm around the globe.
What are the top finance certifications?
Unlike in the past, the number of jobs and roles have also increased in recent times. From Accountant to Financial Planner, the titles are many. This indicates that specialities and niche job roles are in demand right now. Let us look at some of the top finance and accounting certifications and what kind of job/job role each will land you. A certification course, once again, only improves your chances of landing a good position.
List of the Top Finance Certifications:
- Certified Financial Planner (CFP)
- Certified Management Accountant (CMA)
- Certified Public Accountant (CPA)
- Chartered Financial Analyst (CFA)
- Chartered Financial Consultant (ChFC)
- Financial Risk Manager (FRM)
- Chartered Certified Accountant (ACCA)
- Chartered Alternative Investment Analyst (CAIA)
- Certified Financial Planner (CFP) – Individuals interested in a career in investing or wealth management should consider earning the Certified Financial Planner (CFP) designation. This qualification focuses on financial planning for high-net-worth individuals and ordinary investors. Though the CFP covers a wide range of topics in wealth management, its concentration is narrow, making it less beneficial to other finance occupations.
- Certified Management Accountant (CMA) – This certification acts as an accounting credential. The CMA delves deeper into financial accounting and incorporates strategic management features. The certification focuses on educating the underlying variables that influence a company’s financials and how to use them to make effective business decisions.
- Certified Public Accountant (CPA) – One of the most essential credentials for accountants is the Certified Public Accountant (CPA), which is also vital for a finance career path. The CPA is practically a “must-have” credential for an accounting career. It is often listed as a requirement for accounting positions by many employers. Auditing, attestation, financial accounting and reporting, business environment and principles, and regulation are all covered in the CPA program.
- Chartered Financial Analyst (CFA) – The CFA designation is a well-known and sought-after finance designation among financial professionals worldwide. When companies hire financial analysts, it is highly valued and frequently employed as a filtering mechanism. However, despite being comprehensive, the CFA boasts a low success rate, which can be attributed to the large quantity of content tested. Portfolio management and investment analysis are two of the CFA’s key focuses. Ethics, quantitative methods, economics, financial reporting and analysis, equity, fixed income, portfolio management, derivatives, and alternative investments are all covered by the designation.
- Chartered Financial Consultant (ChFC) – The ChFC designation was designed as a replacement for the CFP designation. It is, however, less well-known than the CFP. It provides an in-depth treatment of a wide range of financial planning topics, including insurance, income tax, and retirement planning.
- Financial Risk Manager (FRM) – The FRM is for financial professionals who want to work as risk analysts, officers, or other risk management jobs. Risk management topics addressed by the FRM include valuation and risk models, credit risk measurement, and operational risk management.
- Chartered Certified Accountant (ACCA) – The Chartered Certified Accountant (ACCA) qualification is a worldwide recognized accounting certification that covers financial management, reporting, taxation, auditing, leadership, and ethics, among other topics. ACCA is more internationally recognized and applicable than CPA since it focuses on IFRS rather than US GAAP.
- Chartered Alternative Investment Analyst (CAIA) – The CAIA (Chartered Alternative Investment Analyst) is a finance designation that focuses on alternative investing. This financial certification is for those interested in working in the asset management and hedge fund industries. Hedge funds, private equity, real estate, asset allocation, structured products, risk management, and ethics are among the themes covered by CAIA. While not as broad as other qualifications, the CAIA is quite beneficial in certain areas of finance, particularly in the management of alternative investments such as real estate.
More details and information about each certification and its courses are provided on our website. At Finprov, your learning partner, we are constantly on the lookout to help you enhance your skills and grow.