Finance Certifications Programs

  • CFA® – Chartered Financial AnalystCPA – Certified Public AccountantFRM – Financial Risk ManagerCFP – Certified Financial PlannerCIMA – Charted Institute of Management AccountantsACCA – Association of Chartered Certified AccountantsCAIA – Chartered Alternative Investment AnalystChFC – Chartered Financial ConsultantCMA – Certified Management AccountantCMFC – Chartered Mutual Fund Counsellor

Let’s look at the top finance certifications program (in no particular order)

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#1 CFA® – Chartered Financial Analyst®

It is one of the best finance certifications programs you should pursue if you’re looking to master financial management and investment. Finance certifications alone are enough to catapult your career to the next level. It has three levels that you need to clear, and you also need to have four years of full-time, relevant experience to get certified. The course is very rigorous, and you need to study hard to clear it. The pass rate is lower than any other finance certifications – overall, the pass rate of CFA is less than 20%.

Career / Roles – For availing of jobs in asset managementAsset ManagementAsset management is a method of managing funds and investing in both traditional and specialized products in order to generate returns consistent with the investor’s risk tolerance. read more, private equity, equity research, investment banking, you should do CFA finance certifications. If you want to make a career in the world of investment and have the option of only one finance certification, CFA would be the only one you should choose.

#2 CPA – Certified Public Accountant

If you love accounting (more than finance), this certification is the best of the best. It is authorized by the AICPA (American Institute of Certified Public Accountants). This finance certification is specifically designed for accountants and tax consultants. CPA certification requires 150 hours of intensive study. And then you need to clear a tough exam.

The cost of the study is around $3000. Along with that, you need to get a CPA license. And if you prepare well, you can clear the exam. The pass rate for the first attempt has been around 50%.

Career / Roles – If you want a career in accounting, this finance certification program will help. The only demerit of this finance certification is its narrow focus on corporate finance.

  • CPA ExamCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread moreCPA Study Guide BooksCPA Study Guide BooksThe top CPA study books are - CPA exam for dummies, Guide for international candidates, McGraw-Hill education 2,000 review questions for the CPA Exam, The vest-pocket CPA: second edition, How to prepare for the certified public accountant exam.read moreCPA vs MBA –  Which is Better?CPA vs CFPCPA Vs CFPCPA (Certified Public Accountant) are professionals who aspire to work in matters pertaining to accounts and taxes. CFP (Certified Financial Planner) are people who aspire to become financial planners for individual clients.read moreCPA vs CFA®

#3 FRM – Financial Risk Manager

If you want to become a risk analyst in an organization or make your mark in risk management, this is the ideal certification. You can also help clients that want to make prudent investment decisions. This certification doesn’t cost much – it costs around $1500, and you can complete FRM-I and FRM-II in a year (but it’s not that easy). The pass rate of FRM is around 50%, but every year the percentage changes. FRM is administered by GARP (The Global Association of Risk Professionals).

Career / Roles – FRM is one of the niche finance certifications programs and only targets a specific market. The only con of this finance certification is that the subject material won’t apply to all finance professionals until they’re interested in risk analysisRisk AnalysisRisk analysis refers to the process of identifying, measuring, and mitigating the uncertainties involved in a project, investment, or business. There are two types of risk analysis - quantitative and qualitative risk analysis.read more and management.

  • FRM SalaryFRM SalaryThe GARP’s Financial Risk Manager designation is a globally recognized designation that equips individuals with financial risk assessment and risk management skills. In the United States, the average salary for a Financial Risk Manager is around $102,393.read moreFRM Exam Dates and Registration ProcessFRM Exam Dates And Registration ProcessThe FRM certification is globally recognized by institutions like the Global Association of Risk Professionals (GARP), USA. For certification, one must clear the FRM exams conducted twice a year.read moreFRM Exam GuideFRM Exam GuideFRM exam (Financial Risk Management) is a part of tests conducted by the Global Association of Risk Professionals to issue an FRM certification to the person who passes the exam recognizing candidate’s eligibility to work in an economic environment as they possess a strong knowledge and sound understanding of financial risk, analysis, and management.read moreCFA vs FRMCFA Vs FRMCFA (Chartered Financial Analyst) certification exam prepares you well for careers in Investment Banking, Portfolio Management, Financial Research, whereas FRM (Financial risk management) certification exam is suited for those who want to make a career in Risk management in Banks, Treasury Department or in Risk Assessments.read more

#4 CFP – Certified Financial Planner

If you want to hire a financial planner or be one, you should look out for CFP certification. CFP is not only about just finance, but it’s also about understanding one critical element of business: client-relationship. To pass the CFP, you need to clear a 7-hour test. If you want to pass CFP, you need to study at least 1000 hours. The only con of this certification is that it is too narrow in focus. However, after passing this exam, you can be part of wealth management, retail bankingRetail BankingRetail banking or personal banking refers to the financial services offered by the financial institutions exclusively to the individual clients. The consumer banking provides personal loan, savings account, debit cards, credit cards, locker, etc.read more, and private banking careersPrivate Banking CareersWorking in private banking include positions in wealth management firms, investment banks, and retail divisions. The top four private banking careers are as follows: Personal financial advisor Relationship manager/private banker, Customer service executive, Cash & trade processing analyst.read more. This finance certification program is top-notch, and it also costs less, only around $2000. The overall pass rate for CFP was 64% in the year 2017.

Career / Roles – If you want to be part of wealth management, retail banking, and private banking careers

  • Certified Financial Planner Exam GuideCertified Financial Planner Exam GuideCFP is a certification that helps people to plan their finances well. In the USA, the average age of the population is 36.8 years. Thus, the need to reach their retirement age with a good net worth is a priority. read moreCFA vs CFP CFP vs MBACFP Vs MBACFP helps you gain a seal of professional certification as a financial planner. This course is conducted by the Certified Planner Board (CFP). In contrast, MBA is Masters in Business Administration chosen by individuals who are willing to gain proficiency in management-related skills.read moreCFP helps you gain a seal of professional certification as a financial planner. This course is conducted by the Certified Planner Board (CFP). In contrast, MBA is Masters in Business Administration chosen by individuals who are willing to gain proficiency in management-related skills.read moreCFP helps you gain a seal of professional certification as a financial planner. This course is conducted by the Certified Planner Board (CFP). In contrast, MBA is Masters in Business Administration chosen by individuals who are willing to gain proficiency in management-related skills.read moreCPA vs CFPCPA Vs CFPCPA (Certified Public Accountant) are professionals who aspire to work in matters pertaining to accounts and taxes. CFP (Certified Financial Planner) are people who aspire to become financial planners for individual clients.read more

#5 CIMA

CIMA (Chartered Institute of Management Accountants, UK) is for looking for comprehensive knowledge in management accounting. It widens the scope of accounting by aligning its curriculum with strategic and risk management, which is very useful from a business management point of view.

It is a comprehensive 4-tier certification program divided into certificate and professional levels. One can earn a CIMA Certificate in Business Accounting by completing the basic level and qualifying for professional-level studies, further divided into three learning pillars, including enterprise, performance, and financial knowledge areas. Each of these pillars is further sub-divided into operational, management, and strategic levels, resulting in nine knowledge areas covered as part of professional studies.

On completing the strategic level, 3-year work experience verified by CIMA Institute would help earn the designation of CIMA Member.

Career / Roles – This finance certification program can help build a career in advanced management accounting, including career roles of Management Accountant, Financial Analyst, Finance Manager, and Internal AuditInternal AuditInternal audit refers to the inspection conducted to assess and enhance the company’s risk management efficacy, evaluate the different internal controls, and ensure that the company adheres to all the regulations. It helps the management and board of directors to identify and rectify the loopholes before the external audit.read more Manager among others.

  • CIMA Qualification | A Complete Beginner’s GuideCIMA Exam DatesCIMA Exam DatesThe CIMA Qualification is a globally recognized credential awarded by the Chartered Institute of Management Accountants in the United Kingdom to those interested in pursuing a career in the specialized field of management accountancy. read moreCIMA vs CFA – How Are They Different?CMA vs CIMA – What Should be Your Choice?

#6 ACCA

The association of chartered certified accountants is a very competent and leading accounting global body; their qualification gives you recognition as an employee who has the ability in all aspects of the business. A Chartered Certified Accountant is protected legally as anyone who claims to be a chartered certified accountant has to be a member of ACCA.

  • Exams: ACCA consists of a total of 14 written examinations in English, along with a business experience that is relevant enough. 4 exams can be taken up in each part which normally takes about 2 to 3 years to clear; however, the maximum time given to clear ACCA is ten years.ACCA exam dates: These exams are held twice a year, in June and December.Eligibility: Registering in different countries has different eligibility criteria for this course. Also, the candidate needs to have relevant experience to have this finance certification.

Career / Roles – Banker, Consultant, Auditor, taxation, and law professionals.

  • ACCA Exam Dates and Registration ProcessACCA Exam Dates And Registration ProcessACCA is an accounting qualification recognized globally that provides a solid foundation to students and professionals for careers in accounting, tax consulting, auditing, business valuation, treasury management. Its exam dates, timetables, and important notifications are readily available on its official website.read moreGuide to ACCA ExamsGuide To ACCA ExamsThe Association of Chartered Certified Accountants is a competent and leading global accounting body. This qualification gives you recognition as an employee who can help in all aspects of a business.read moreThe Association of Chartered Certified Accountants is a competent and leading global accounting body. This qualification gives you recognition as an employee who can help in all aspects of a business.read moreThe Association of Chartered Certified Accountants is a competent and leading global accounting body. This qualification gives you recognition as an employee who can help in all aspects of a business.read moreACCA vs CPAACCA Vs CPAACCA stands for Association of Certified Chartered Accountants, and this course is offered by the Association of Chartered Accountants. Candidates who pass this course have skills in taxation, auditing, handling accounts, management accounting, and so on. CPA stands for Certified Public Accountants and this course is offered by Royal Charter.read moreACCA vs ACAACCA Vs ACAACCA (Association of Certified Chartered Accountants) exam helps candidates gain expertise in management accounting, auditing, accounting, taxation. In contrast, ACA (Associate Chartered Accountant) provides in-depth financial management, tax compliance, and accounting and reporting.read more

#7 CAIA – Chartered Alternative Investment Analyst

Career / Roles – hedge fund or asset management industries

  • Accounting vs Financial Management DifferencesAccounting Vs Financial Management DifferencesAccounting is the process of recording, maintaining as well as reporting the financial affairs which reflect the true financial state of the entity. Financial management is the management of the finances and investment of different individuals, organizations and other entities.read moreChartered Alternative Investment Analyst Exam GuideChartered Alternative Investment Analyst Exam GuideThere are two levels to the CFA® CAIA exam. Professional Standards and Ethics, as well as an introduction to alternative investments, are covered in Level I, while alternative investments and other integrated topics are covered in Level II.read moreCFA vs CAIA – Which is Better?FRM vs CAIA – Which Finance Career to Choose?CIPM vs CAIACIPM Vs CAIAThe Certificate in Investment Performance Measurement (CIPM) is a degree that allows one to secure roles in investment banks and GIPS verification forms. The Chartered Alternative Investment Analyst Association, on the other hand, can ensure a career as an analyst with private equity or hedge funds.read more

#8 ChFC – Chartered Financial Consultant

If you’re somehow unable to go for CFP certification, you can go for ChFC certification. This certification is a great alternative because it not only covers everything you will learn in CFP, it will also help you specialize. For example, the CFP certification will teach you how to be a financial plannerHow To Be A Financial PlannerFinancial planners are experts in investment and financial management who help corporations, individuals, and businesses achieve their financial goals and objectives. The top four financial planner careers are budget analyst, insurance underwriter, financial analyst, and securities and commodities agent.read more in a generic sense. ChFC certification will help you specialize in financial planning, e.g., for small businesses or divorce. If you want to specialize in financial planning, you need to study for four months under this certification and clear the exam. Though not a very popular finance certification, it is one of the game-changers in financial planningFinancial PlanningFinancial planning is a structured approach to understanding your current and future financial goals and then taking the necessary measures to accomplish them. Because this does not begin and end in a specific time frame, it is referred to as an ongoing process.read more. The American College of Financial Services administers it.

Career / Roles – Financial Planner, Wealth Management

  • ChFC Official website

#9 CMA – Certified Management Accountant

If you want to get into management accounting, you won’t get any better certification than this. The finance certifications program is authorized by the Institute of Management Accountants (IMA). It is one of the most sought-after finance certifications & accounting. After passing out from CMA, you will get more opportunities on the corporate side. The whole course is divided into two parts. And as a whole, you need to sit for 11 financial competency tests. In simple words, this certification will give you a strategic advantage in the field of management and accounting. As per the study, a CMA earns 47% more than any other professional in the US. If a lucrative career and financial gains seem like a good idea, you should go for CMA certification.

Career / Roles – Management Accountant, Accounting

  • CMA Exam Registration ProcessCMA Exam Registration ProcessChartered Management Accountant (CMA) is an important credential to accountants and financial professionals by the Institute of Management Accountants (IMA) to validate their capabilities in management accounting. Its exam dates and notifications are readily available on the IMA website.read moreCMA Exam TipsCMA Exam TipsCMA is a certificate course offered by the IMA. Here are a few exam tips: 1) Don’t panic if you don’t know the answer 2) Don’t get distracted during the multiple-choice section. 3) Keep track of the time and increase your speed.read moreCFP vs CMACFP Vs CMACFP is the abbreviation for Certified Financial Planner. It is a course that can be pursued by students who aspire to become financial planners in the future. In contrast, CMA is the abbreviation for Certified Management Accountant, and it must be pursued by candidates who are willing to gain expertise in financial accounting and strategic management.read more

#10 CMFC – Chartered Mutual Fund Counsellor

If you want to multiply your money, you would like to invest in mutual funds. And for that, you need someone who is specialized in mutual funds. If your mutual fund advisor has done CMFC certification, then be assured that you’re in good hands. Or else, if you want to do a finance certification program in a mutual fund, look no further than chartered mutual fund counselor certification. It is a short course of 10 weeks. And you need to pass the exam after the course. The College administers this course for Financial Planning. This course includes project work regarding the mutual fund industry and related to other investment products.

Career/ Roles – Wealth management, Mutual Fund Advisor

  • CMFC Official Website

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