This is the world that has immensely huge opportunities for the people that have some kind of skill set. In this environment having certification with potential can raise your chance of employment. There are plenty of certifications that are offered to the seekers in the market. Finance-based certifications are one of the most popular certifications. These certifications heavily focus on the modern-day trends of handling finances. The center of these professional certifications is to understand the market and handle the finances according to that.
Finance certifications can turn out to be very good investments. If you have to invest your money in some professional skill, then it is better to put your time and money into some worthy certificate. Your future would be much brighter in the field where you have done relevant certifications. The credibility of existing finance managers also increases when they put an effort to update their skills.
We have made a list of the three best financial courses out there. Here are those courses with their pros and cons so you can make an informed decision.
CFA (Chartered Financial Analyst)
This is one of the most trustworthy certifications available in the world. This is an extensive certification that is completed in 4 years. But the course is also very elaborate that makes it the topmost certification in the world. The main coursework of this certification revolves around the analysis of investment and management of portfolios. The final exam of the course has extremely important topics in the trading world such as professional and ethical standards of financial management. It also includes economics, methods that are quantitative, analysis of financial reports, equity, corporate finance management, derivatives, and fixed income. If you have a little introduction to finance, you can understand the significance of all these topics.
CFA is a relatively expensive course. The usual charges of the course are somewhere around 4000 dollars to 5000 dollars. Given the coursework, the charges seem fair enough. The course will cover all the important topics that can be helpful for employment.
This designation is acknowledged almost everywhere in the world. This is the biggest pro of this course because a lot of the time the certification is done in a certain region does not work in another corner of the world. CFA saves you from the inconvenience of repeating the course again and again. In fact, a lot of finance firms add this course to their requirement while hiring people. This is a difficult course and if you have passed it, the employer knows that you have enough skills. So the job canvas gets pretty big after doing this certification.
All the benefits of this course come with a cost. The certification is extremely difficult to pass. The course work is very broad and so many students are not able to keep up with the pace of the course. So before enrolling, it is important to think if you can manage this much work burden. Otherwise, it would be just an expensive failure experience.
The course is also very theoretical, and some people see it as the biggest drawback of this course.
FRM (Financial Risk Manager)
If your goal is to become a risk manager then this is the course for you. This course is a big help for people who want to pursue their careers as risk analysts or risk officers. This course is the biggest help. Risk management has so much potential and there are a lot of job openings in this field every year.
This course is available at a very reasonable price of $1500 USD. The duration of the course is one year, so it is very affordable. There is around 50 percent of students that can pass the course with good marks. But still, it is hard enough that the other 50 percent struggle to pass through it.
If you want to do a targeted course, then this is the best option that is offered out there. It is done in minimal time and is done on a very low budget. FRM provides its students with all the information on all the topics related to risk management. The fee is very minimal, so the risk level is low too.
This certification is comparatively fresh in the market than other financial courses. There are more valid and dependable courses available. Because it is new so is not acceptable everywhere yet.
CAIA (Chartered Alternative Investment Analyst)
This is the course that revolves around alternative investment analysis. There is this important section of hedge funds. CAIA is very suitable for handling hedge funds and the management of assets. This course has a syllabus that includes hedge funds, ethics, equity, asset management, risk management, and products that are structured.
This certification is a little on the expensive side. It has two levels, and the total fee is around 3000 dollars. This is a very reasonable price as CAIA covers so many important topics that are very beneficial in the finance and investment industry. It is mid-range and students who work small jobs can also afford this certification.
CAIA is very beneficial for so many areas in the management of finance and assets. The total time of the course is one to one and a half years. The passing rate of this course is also more than 70 percent. This means there are very few chances of your money getting wasted. This brings this course to the top three. This is the most acknowledged course with a very high success rate. The fee of certification is also pocket friendly.
Disadvantages This certification tries to cover almost every topic that relates to the management of finance and investment, but it is done at the same time as MBA. So sometimes it is better to opt for an MBA as it is more credible than CAIA. This is the biggest downside of CAIA. A lot of students drift towards MBAs who can afford the charges.