The evolution of financial markets to a greater extent demands financial designations. Finance has become competitive and it drives the expectation level of employers. Professionals with better skill sets, academics and relevant certifications for specific functional roles carry a distinct advantage over others. Professionals with certification in a specialized knowledge area or skill set carry better career prospects in the new-age financial industry.
Finance certifications earned from a well-reputed institution earn better job-prospects, increase earning potential, and provide a bunch of opportunities. To know which finance certification is most appropriate, understand the financial area you are interested in and close the gap with the right certifications.
Here is a quick rundown of the most finance certifications.
Most popular finance certifications
To pursue a certification, it is necessary to know the value of the certifying body or organization. Vendor-neutral and globally recognized certifications fetch value to earn a job anywhere across the globe with a competitive compensation package. Some of the popular certification programs are as follows.
Chartered Financial Analyst (CFA) Certification
The CFA certification is accepted in various finance domains like investment companies, banks, insurance companies, banks, financial consultancies, mutual funds, and, many more.
CFA is a valid certification to demonstrate one’s skill in the market of finance and the stock exchange world. A CFA certified individual can work as a financial analyst or as an independent financial investor.
Big companies like Bank of America, Citibank, JP Morgan, and others prefer CFAs over non-certified candidates during their hiring process.
According to PayScale, the Chartered Financial Analyst earns $90k per annum.
Chartered Investment Banking Professional (CIBPTM) Certification
The CIBPTM certification is for aspiring investment bankers and covers all the aspects of investment banking thinking, design, analysis, and execution.
It prepares the finance graduate to specialize in Mergers & Acquisitions, making deals, equity markets, debt markets, and, more. As an investment banking professional, you can involve yourself in raising capital for clients, trade products, research markets, create pitch books, pre-trade works, etc.
Big companies like JP Morgan Chase, Goldman Sachs, Citigroup, Barclays Investment Bank, Deutsche Bank, etc., prefer certified professionals during their hiring process. Even startups prefer certified professionals and hence most of them provide captivating salaries and benefits for certified professionals.
According to PayScale, the investment banker’s salary is $99020. The Goldman Sachs Group, Inc., pays the highest where the average pay is $100,000.
Certified Credit Professional (CCP)
The CCP program is for professionals who can handle credit management. They handle the credit department of almost all industries and financial sectors. They can get into the profession as claim managers, credit analysts or credit risk managers in consumer, mercantile, or international credit organizations.
The certification prepares the candidates with fundamentals in business, credit management, Canadian credit law, and manage credit with information technology.
Some of the popular companies that hire CCP professionals include Dollar Bank, Goodwill industries, Fergusson Enterprises, Inc.
According to PayScale, the average compensation of a credit analyst is $48k, the credit supervisor is $71k, the credit officer is $60k, and the collection specialist is $55k.
Having an advanced finance certification adds knowledge and qualification. It brings a new opportunity to explore and increase the earning potential. It proves trustworthiness and dedication to your job and helps you move up the career ladder at a faster rate.