Charting Your Course: Exploring Finance Education Opportunities After Class 12
By Admin | 01 Apr 2024 | CFA
For most of the students in the scholastic year 2023-24, your class 12 Board exams are over or nearing completion. This marks both - a significant completion as well as commencement in your academic journey. While there will be anxiousness with respect to your Board exam results, you stand at a very important pedestal of your life.. where the critical question is “What Next?”
For those aspiring to build a career in finance, a compelling range of opportunities and study options await you. From building careers in finance & control to traversing territories of financial management, analysis and strategy to the new age world of data science & analytics.. the world is now your canvas waiting for you to paint your story.
The options of study today are so many, that for the uninitiated it can be very daunting and overwhelming. The document below, highlights 3 broad spectra:
a. Undergrad options
b. Professional degrees which are the best in their spectrum
c. Data Science & Analytics
1. Undergraduate Programs:
a. Bachelor of Commerce (B.Com):
B.Com stands as a program that delivers a comprehensive grasp of accounting, finance, economics and business studies. It encompasses concepts like accounting, corporate finance, taxation, business law and management principles. Students acquire knowledge and skills for roles, in finance, banking, accounting and related fields.
b. Bachelors in Business Administration (BBA):
BBA program focusses on business and management studies. The program into financial & business management principles, business planning, investment analysis, entrepreneurship, communication and risk management. For many BBA is the pre-cursor to MBA. In fact many institute are offering integrated BBA and MBA programs.
c. Bachelor of Economics (BA / BSc):
Honours in economics is considered a much-coveted graduation degree in finance. The degree provides a firm basis for much of the advanced thinking in the Economics discipline. It provides the student with a logical paradigm for modelling and interpreting the behavior and interactions of households, firms, and government institutions. Students over the ¾ year graduation period study microeconomics, macroeconomics, econometrics, international economics and monetary theory to develop skills and critical thinking necessary for understanding trends financial markets dynamics and policy implications.
2. Professional Courses in Finance – The Best
a. Chartered Accountancy (CA):
The Institute of Chartered Accountants of India (ICAI) regulate and conduct the CA Program. Chartered Accountancy in India is considered the foremost program in the field of finance. However, the CA program specializes in the subjects of accountancy, taxation, audit and to a limited extent on management accounting. The CA Program spread across 3 levels viz. Foundation, Intermediate, Final with a mandatory articleship period is known for its intensity and rigor.
b. Chartered Financial Analyst (CFA) Program:
Chartered Financial Analyst (CFA)® is globally recognised as the gold standard credential in the field of investment analysis and portfolio management. The investment management industry owing to ever changing technology and wide-spread availability of data, is fast evolving and becoming more and more complex by the day.
The CFA Program structured across 3 levels tests the candidate on fundamentals of investment tools, valuing assets, portfolio management and wealth planning thereby imparting the necessary skill set and knowledge to succeed in today's extremely competitive investment management industry deluged by data and information.
The Program goes beyond the theoretical realm, emphasizing practical applications in real-world scenarios. As a CFA charter holder progresses through the three levels, they not only gain proficiency in quantitative techniques and financial analysis but also develop a nuanced understanding of ethical considerations and professional conduct within the investment landscape.
c. Financial Risk Manager (FRM):
Global Association of Risk Professionals (GARP) regulate and conduct the FRM Program. The FRM Program is globally considered the benchmark program in Risk Management. Banks and Risk organizations acknowledge the learning edge the FRM Program has to offer. Accordingly, today FRM Program is not only a gateway for a host of profiles in banking, risk, consulting, and analytics but also a program looked on by working professionals to leverage on for career growth.
FRM program spread over 2 levels, delves into areas like quantitative analysis, financial products, valuation, market risk assessment, credit risk evaluation, operational risk, risk modeling and overall risk management frameworks.
3. Programs focusing on Data Science & Analytics:
Data science and analytics have over the years become one of the lucrative and challenging fields to build a career in. In this field, students are equipped with skills, in handling data conducting analysis applying machine learning techniques and creating visual representations of data. These proficiencies are highly sought after in the finance sector. Students learn how to uncover insights from datasets make decisions based on data driven evidence and construct predictive models for financial purposes such as forecasting, risk evaluation and investment analysis. Upon completing these programs individuals can explore career paths including roles like data analysts, analysts, risk analysts, financial modelers or even data scientists within finance related institutions like banks, investment firms, insurance companies and fintech enterprises.
The above is not the universe, but a small sub-set of the many options field of finance has to offer. However, the discussion above covers the best programs in the space of finance where a student after Class 12 can venture and build a prolific career for her or himself. Of course there can be several more permutations and combinations that can be worked upon for example active internships and more.
