There is absolutely, no denying the fact that – having a Powerful Certification on your CV gives you an unmatched advantage over your peers (your competitors!). Short-term finance certification courses help you in getting your CV shortlisted, gain an impressive CV pointer to drive your interview, top you up with practical job oriented skills and be JOB READY.
However, before you take up a certification course, it is important to have an idea of the following key questions:
- Which short term Finance certification courses can you take up? What are the options available?
- Which certification gives you the best ROI? How much would it cost you?
- Which certification will give you the practical knowledge you need? How much time do you have to commit?
The best short-term finance certification course for you would depend on your answers to the above questions.
Some of the most popular finance certification courses that add value to your CV and that you should consider taking up are as follows:
1. Chartered Financial Analyst (CFA):
This is not a short term finance certification course, it’s more of a parallel MBA. Administered by the US based CFA Institute, the Chartered Financial Analyst (CFA) certification is the benchmark for Finance Professionals, across the globe. Spread across 3 levels, it is ideal for MBA/other students aspiring for a Financial Markets based career in Wealth Management, Investment Banking, Portfolio Management and Research Analysis.
Becoming a CFA charterholder requires you to have four years of professional work experience, apart from clearing all three levels. However, an MBA student can consider clearing CFA – Level I, which does not have any restriction on minimum work ex.
Recommended learning hours: About 300 hours of self-learning, per level.
Examination frequency: Twice a year – June and December (8 Testing centers across India)
One-time Registration fee for all 3 levels: $ 450 (INR 31,500)
Level I Examination Fee: a maximum of $1380 (INR 96,600)**
Also, do consider the training cost to prepare for Level-1 examination. Institutes charge anywhere between INR 30,000 – 50,000 for a CFA training.
(Considering the fess for CFA 2017 & exchange rate per $1 at INR 70)
**The exam fees varies in the range of $650-$1380, depending how early your register for the exam.
For more details, you can refer to their website: CFA certification
2. Certified Financial Planner (CFP):
If Financial Planning (Retirement Planning, Insurance Planning, Investment Planning, Tax & Estate Planning) is what you wish to do professionally – this prestigious International Certification awarded in India by Financial Planning Standards Board of India (FPSB) is the ideal choice.
There are two pathways to achieving the CFP certification – Regular Status and Challenge Status. If you are pursuing your MBA currently, you will be eligible for the Regular Status Pathway. (Eligibility Details)
The Regular pathway requires you to clear a set of 5 examinations ranging from Risk Analysis and Insurance planning to Advanced Financial Planning. In the Challenge pathway, you only have to write the 5th exam. However, you have to fulfill certain criteria to be eligbile for this pathway. (Challenge pathway eligibility details)
Recommended learning hours: 250 hours
Examination frequency: Thrice a Year at 155 NCFM testing centers
Registration & Examination fee: INR 20,000
Annual renewal fee of INR 6000
Account for the training costs additionally
For more details, you can refer to their website: CFP certification
3. FLIP Certifications:
FLIP offers short-term finance certification courses that are highly practical and industry-endorsed. These job oriented training programs in the BFS have 70,000+ large alumni base including students and working professionals. Recruiters from leading banks & Financial Institutions say that they prefer/give weightage to FLIP certified candidates.
With courses written by practicing Industry professionals, FLIP’s training offers exclusive practical expertise that you don’t get elsewhere.
At the basic level, FLIP’s Finance & Banking Fundamentals course helps you build a foundation on critical finance concepts; how financial markets work and an overview of the banking business. (View details). It’s a very popular short term finance certification course and is the choice of thousands of B-School aspirants and first year students.
As per your inclination in specialization, FLIP also offers training & certifications in 26 advanced, aspirational areas like Investment Banking, Risk Management, Capital Markets, Wealth Management, Corporate Banking and Banking Operations.
You can also add tremendous value to your CV with the FLIP-NCFM programs. These training programs from FLIP will help you clear the certification exams conducted by the NSE.
Speaking of FLIP certified candidates, Mr. Somak Ghosh, Managing Partner – Contrarian Capital (earlier Group President @ YES Bank & Co-CEO at Motilal Oswal PE) said
“FLIP Certified candidates come with practical, India focused knowledge – which a CFA does not give. They come better prepared and hit the ground running much faster than other candidates who do not have the relevant certification. I would strongly prefer FLIP Certified candidates over others (all else being equal)”
Recommended learning hours: 30-50 hours, at your own pace
Examination frequency: Conducted throughout the year, in 36 centers across India
Online Learning+ Unlimited support + Examination + Certification: INR 5000 – 12,000
For more details, you can refer to their website: FLIP certifications
4. Financial Risk Manager(FRM):
Offered by the Global Association for Risk Professionals (GARP), the Financial Risk Manager(FRM) is a globally recognized certification in Risk Management. The certification will help you in roles like Risk Assessment, Financial Risk Consultant, Risk Management, Asset Liability Management etc.
Of course, given the cost and effort, it is a worthwhile investment only if you’re sure of your interest in Risk Management.
The examination is conducted in two parts – Part I & Part II. While there is no pre-requisite educational qualification, in order to obtain the final certification, you are expected to produce at least 2 years of relevant full-time work experience to get certified.
Recommended learning hours: 250 hours/Level
Examination frequency: Twice a year (June & November), 9 testing centers across India
One-time registration fee: $300 (INR 21,000)
Examination fee (Level 1): $650** (INR 45,500)
Examination fee (Level 2): $650** (INR 45,500)
Training Material cost: $300/Level (INR 21,000)
The total cost to complete both the levels will come down to INR 1,54,000
** The exam fees varies in the range of $350-$650 per level, depending how early your register for the exams.
For more details, you can refer to their website: FRM certification
5. NCFM Certifications:
The National Stock Exchange (NSE) in 1996 launched the NSE’s Certification in Financial Markets (NCFM) as an online testing and certification initiative.
The short term finance certification courses are oriented towards roles like Stock Analysts, Portfolio Managers etc.
With an exhaustive list of offerings spread across three levels (Foundation, Intermediate and Advanced) these short-term finance certifications can be a good value addition to your CV . However, it is important to note that there is no training provided by the NSE as such. All you get is a pdf to study from and attempt the certification exam.
They do however, offer effective training for the FLIP-NCFM modules like Equity Research, Issue Management and Market Risk. You can check out FLIP’s online training courses: FLIP-NCFM training programs. The online courses in finance will equip you with the necessary knowledge to clear these certifications.
Recommended learning hours: 30 – 50 hours, at your own pace
Examination frequency: Conducted throughout the year, at 155+ NCFM testing centers
Certification Exam cost: INR 2006
For more details, you can refer to their website: NSE Certifications