Which certification can help me to give me a strong profile for an MBA in finance?

Dear Aarush,

It's great to know that you have a focused goal from now itself and you clearly know what you want to do. You have a plethora of options to choose from when it comes to certifications in the field of finance. But let us first understand what does MBA in Finance mean and lead to.

What is MBA in Finance?

It provides an understanding of financial concepts from a managerial perspective. Hence, during the course a thorough knowledge of fundamental financial concepts like corporate finance, budgeting, costing, international finance, investment & securities,finance management, accounting, financial reporting analysis and working capital management, etc. will be provided.

The students are further, trained on thinking analytically, developing an aptitude in financial decision making by balancing risk and profitability. Developing financial processes for different business models. It also provides a managerial perspective on these concepts and relates them to varied business models and business scenarios that exist in the financial world.

The pedagogy includes lecture, projects - individual as well as group, case studies, competitions and immersion courses. You'll also have the option to choose electives in a further specialized field of your interest.

Now, that you know what you'll be taught in an MBA Fin course, let us look at the certifications to help you make your choice:

1. Chartered Financial Analyst (CFA) : This is a long term finance certification course. It’s more of a parallel to MBA. It has 3 levels and you'll receive the certification for each level once you successfully complete the same. It is ideal for students planning for a Financial Markets based career in Wealth Management, Investment Banking, Portfolio Management and Research Analysis. Becoming a CFA holder requires you to have 4 years of professional work experience, apart from clearing all the 3 levels. However, a student can clear CFA – Level I, which does not have any restriction on minimum work requirement. Examination frequency: It is held t wice in a year – June and December in 8 Testing centers across India.

   Total Cost: One-time Registration fee for all the 3 levels: $ 450 (INR 31,500)
   Level I Examination Fee: maximum $1380 (INR 96,600)
   Also, Institutes charge anywhere from INR 30,000 – 50,000 for a CFA training.The exam fees also varies in the range of $650-$1380, depending on how early your register for the exam. Note: You'll have to pay examination fee for Level 2 and Level 3 too once Level 1 is cleared and you want to complete all remaining levels.
   
   

2. Certified Financial Planner (CFP) : Financial Planning includes Retirement Planning, Insurance Planning, Investment Planning, Tax & Estate Planning. This International Certification is awarded in India by Financial Planning Standards Board of India (FPSB) .

   There are two ways to achieve the CFP certification – Regular Status (https://india.fpsb.org/) and Challenge Status (https://india.fpsb.org/challenge-status-process/) . If you are pursuing MBA currently, you will be eligible for the Regular Status Pathway. In (http://www.fpsbindia.org/scripts/PathwaytoCFPCertification.aspx) Regular pathway. you need 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.

   Recommended learning hours: 250 hours

   Examination frequency: Three times in a Year at across 155 NCFM testing centers

   Total Cost: Registration & Examination fee: INR 20,000, Annual renewal fee of INR 6000

3. FLIP Certifications : It offers short-term finance certification courses that are highly practical and industry-endorsed. These job oriented training programs in the BFS has an alumni base of 70,000+ including students and working professionals. Recruiters from leading banks & Financial Institutions prefer/give weightage to FLIP certified candidates. T he courses are written by practicing Industry professionals.

   FLIP’s Finance & Banking Fundamentals course provides a strong foundation on critical finance concepts, how financial markets playout and an overview of the banking business. Further, as per your need in specialization,  training & certifications in 26 advanced, aspirational areas like Investment Banking, Risk Management, Capital Markets, Wealth Management, Corporate Banking and Banking Operations are also offered.

   Recommended learning hours: 30-50 hours

   Examination frequency: It is conducted throughout the year, in 36 centers across India

   Total Cost: Online Learning, Unlimited support, Examination, and Certification is INR 5000 – 12,000

A master’s degree in finance is a good option in itself but combined with a professional certification it can produce amazing job opportunities and scope for career growth. Certification can add a lot of value to your CV and give you an edge over the competition.

Chartered Financial Analyst (CFA): While this is no short-term course, one can pursue it with their MBA degree and the course has 3 different levels and requires 4 years of work experience. It has a lot of value in the industry and you can grow your profile in the finance space easily.

Certified Financial Planner (CFP): Be it financial planning, tax planning, insurance planning, investment planning or retirement planning the course that will prepare you to take these decisions is CFP. Exams are conducted 3 times in a year and one has to write 5 papers to clear it.

FLIP Certifications: FLIP certification offers training specifically pertaining to the Indian industry. You will be able to handle any situation with this course and you can take it online.

Financial Risk Manager: This course will get you certified and identified as a risk manager globally. The course is a little pricey and one should consider only if one is sure that their aim is risk management.

Company Secretary (CS): Be it legal record management, tracking of records or maintaining records of key business functions, CS will help you. This course can be done on one’s own time and adds a lot of value to one’s resume

Actuary: Keeping track of risk, identifying it and keeping an eye over uncertainties with the help of data and statistical tools can help with any business function, this is where an actuary steps in. Being an expert at it can prove to be very beneficial especially in the future.

Certificate in Quantitative Finance: Mathematics is an evergreen field and one can find jobs in IT, Quantitative trading, derivatives and even insurance. Doing this course is a sure way to prove your ability in this field.

Certified Information Systems Auditor (CISA): The combination of the skills IT and accounting have many applications in the real world. The certification is widely recognized in the corporate world and a job is almost a guarantee after this course.

Certification in Risk Management Assurance (CRMA): If you plan on having a career in internal audit, CRMA is a good option. It is conducted by the institute of internal auditors. The mode of self-study is best for this course and it adds a lot of value to one’s profile.

Lexicon MILE (http://lexiconmile.com/) offers courses with the finance specialization and is extremely useful to kick start a career in finance, with a certification this course can get you to any place you wish to get to.