In this digital age, young millennials want quick access to a successful career. While there is no shortcut to success, there are many short-term courses that enhance your opportunity to outperform your peers. Finance is a highly sought after field of education, and short-term certifications in Finance are very much in vogue today. These courses provide the necessary skills in a relatively short period of time and can be done conveniently with existing work or studies.
We have compiled a list of the top 5 courses that are highly preferred by both students and employers. This is an indicative list that was put together by analyzing Google Trends, job availability on major portals, and overall popularity among applicants.
Some reasons why students are more inclined to take short courses are:
Fast learning: These short-term courses allow for faster knowledge building, sometimes in as little as 3 months. This criterion is gaining more relevance today, as students can quickly upgrade to better opportunities.
Rapid Changes: The world of finance is changing rapidly. The changes are of all kinds, macro, micro and specific to each country. For example: Take the case of GST and IFRS. With such a major change in the tax regime and financial reporting standards, it becomes mandatory for professionals to quickly learn the new ways and implement them.
Testing the waters: recent graduates or 10+2 swoons are mostly faced with the dilemma of which field is right for them. These short courses help students realize where their true potential lies in the most cost effective and time efficient manner.
1. Financial Modeling
Financial modeling is the backbone of today’s financial industry. It works on a basic principle of working with historical data of a company/industry, analyzing its performance and building models to predict its future performance. Knowledge of financial models helps you master advanced Excel skills and sharpen your ability to judge the future course of events. These qualities are essential for a good analyst working in any field. Although there are several courses on the market, the one offered by NSE Academy stands out. The module covers basic and advanced levels. After completing the certificate, you will be able to work as a financial modeler in functional areas such as:
• Investment banking
• Credit scores
• Project Financing
• Fusions and acquisitions
• Financial analysis
Certification providers: NSE Academy, Edupristine, Simplilearn
Duration: 3-6 months, Fee Range: Rs 25,000 to Rs 30,000
2. International Financial Reporting Standards (IFRS)
In the wake of globalization, most countries are converging their standards towards IFRS or adopting IFRS as it is, to enable uniform reporting. India, as a further step towards convergence with IFRS, has adopted IND-AS. Various IFRS profiles are being offered in various industry sectors including ITES, software, pharmaceutical, auto parts, professional advisory firms, auditing firms, banking industry, insurance industry, KPO, etc. Trained and experienced IFRS experts can set up their own consultancies to help companies migrate to IFRS.
Candidates seeking to graduate, postgraduate in commerce or qualified professionals as MBA, CA, CMA, CS, CFA, CFP or any other relevant course in the field of finance can opt for this IFRS certification.
Certification providers: NSE Academy, Dip and IFRS Cert: ACCA, Edupristine, KPMG, Ernst & Young
Duration: 3-6 months, Fee Range (Training and Exams): Rs 25,000 to Rs 40,000
3.NCFM
The NCFM modules offered by NSE Academy have been one of the most recognized certifications in the capital markets industry. For some profiles in the capital markets, this certification is mandatory. Currently, the NSE Academy offers certifications in Capital Markets, Derivatives segment, Debt market, Banking and Risk Management. There are beginner, intermediate and advanced modules for the financial markets certification and the training curriculum is designed to deliver balanced learning in both conceptual and practical aspects.
Certification providers: NSE Academy
Duration: 3 months / Flexible, fee range (training and exams): Rs 2,000 to Rs 6,000
4. Chartered Financial Planner (CFP)
Indians always lacked knowledge about Personal Finance planning. However, the tide is turning and more working-class youth are getting used to the idea of saving and investing. There are a growing number of companies and portals that offer financial planning advice and employ Chartered Financial Planners for the same. An increasing number of multinational companies, such as ICICI Bank, Standard Chartered Bank, American Express Bank and others, have made it mandatory for their relationship managers to acquire CFP certification to raise current service standards.
According to current industry estimates, the need for financial advisors will be around 50,000 in the next few years. If you want a career in financial planning, wealth management or retail with a globally recognized certification, CFP is the right course to pursue.
There are various training providers. The duration and range of fees are mentioned below.
Duration: Within 1 year, Fees (Training, Registration and Exam): Rs 25,000 to Rs 40,000
5. Chartered Wealth Manager (CWM)
If managing wealth and assets is your forte, Chartered Wealth Manager is a course you should take. CWM is often confused with CFP, but they both cater to two different arenas. Wealth management is a more comprehensive field than financial planning. CWM is organized by the American Academy of Financial Management (AAFM).
CWM covers capital and the financial market, principles of financial services organizations, investment and portfolio management, and other financial market insights. The key profiles in which a CWM can be used are portfolio and asset manager, wealth manager, broker, market analyst, financial controller, private banker.
