What are the top Finance Courses in India? - Eligibility, Job Opportunities

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Best Finance Courses in India

By IIC Lakshya

21 May 2024

ACCA, CA, CMA INDIA, CMA USA

Best Finance Courses in India

The finance industry has developed significantly in the past years, this may be justified because there is clearly a rapid increase in the economy of India. As the industry has grown, so has the need for professionals and skilled individuals in each sector of finance and banking increased. Therefore, considering a career in finance is a great choice, especially when there are different initiatives taking place in India like “Viksit Bharat” or “Digital India”. Fortunately, there is a lot of variety regarding the availability of the top finance courses in India at everyone's doorsteps. Here are some of the best finance courses or certification courses in finance in India.

  • Chartered Accountancy (CA):

Being one of the best finance courses in India and equally Sought by all students of commerce, the CA course can be your next milestone as it diffuses the financial expertise into strategic corporate acumen. CA's play a pivotal role in auditing, taxation, financial planning, and consultancy, shaping the financial health of organizations.

  • Chartered Financial Analyst (CFA):

The CFA certification or course is considered as one of the top finance courses. The CFA course tests the candidates on subjects like economics, accounting, ethics, management, money, and security analysis. This program holds global importance and is accepted as a high-level qualification in almost 165 countries. Previously called as AIMR, this course converts students to competent financial analysts.

  • Association of Chartered Certified Accountants (ACCA):

ACCA falls in the category of top certification courses in finance in India. The ACCA course provides a strong foundation in accounting, finance, and management, and is recognized in many countries. In India, ACCA is considered equivalent to CA, and ACCA professionals are often hired at similar salary packages in many companies, including PwC, Standard Chartered, Deloitte, IBM, Grant Thornton, and BDO.

  • CMA (Certified Management Accountant):

Management in the financial industry is a crucial aspect and with this course, you can be an expert in financial management and accounting strategies. Employers often value CMAs for their expertise in costing, risk assessment and performance analysis, making them a valuable asset to grow their finance business.

  • Certified Financial Planner (CFP):

As the name indicates this finance course is about financial planning. After completing this certification you’ll be able to provide services of financial planning. People need financial planning either at individual levels or there are many chances of getting business projects because financial planning is a crucial aspect in any business. A certification in planning can open various job options for you.

  • Diploma in Banking and Finance (DBF):

The diploma in Banking and Finance (DBF) program is offered by the Indian Institute of Banking and Finance (IIBF). Understanding banking operations and financial management forms the base of this course. Topics such as risk management, financial analysis and financial regulation are taught under practical approaches. You will gain the skills required for entry-level jobs in banking and finance via this course. Such Diploma programs close the knowledge gap between academic theory and real-world application.

  • Chartered Financial Analyst (CFA):

The CFA certification or course is considered as one of the top finance courses. The CFA course tests the candidates on subjects like economics, accounting, ethics, management, money, and security analysis. This program holds global importance and is accepted as a high-level qualification in almost 165 countries. The course was formerly known as AIMR, the whole program focuses on students becoming ethical, competent financial analysts.

Eligibility Criteria for Finance Exams in India

While you may consider various exams for your career in finance, it is essential to know the eligibility of each of these programs for a clear and hassle-free planning.

Here's a list of the eligibility for each of the mentioned finance exams in india:

 

Certification

Eligibility Criteria

Chartered Financial Analyst (CFA)

  • A Bachelor's degree is required.
  • If your bachelor's is incomplete you must be at least within the last 23 months of your undergraduate degree on the date of the exam.
  • You should have 4 years of qualified work experience or a combination of work and university experience totaling 4 years
  • A valid international travel passport is also required.

Certified Financial Planner (CFP)

  • One needs to complete 10+2 in any stream from a recognized Board with a minimum aggregate of 50% marks.
  • Only a few Institutions conduct tests at the time of registration to shortlisted eligible candidates for the course. 
  • There is no minimum age limit and no age requirement for the courses.

Financial Risk Manager (FRM)

  • Anyone can take the Financial Risk Management Course examination irrespective of qualification. However, it is advised to take the FRM exam only after graduation.

Diploma in Banking and Finance (DBF)

  • 12th pass.
  • Clearance of the entrance test conducted by the respective institutions offering the DBF program.

Chartered Accountancy (CA)

  • Students can join the CA course depending on two paths, Foundation Path, for the students who have completed their class 10+2, and Direct Entry for students who have completed their graduation or post-graduation in Commerce stream with a 55 percent aggregate score and 60 percent for other stream students. 

Certified Management Accountant (CMA)

The eligibility criteria to apply for the CMA exam at all three levels vary.

CMA Foundation Eligibility Criteria

  • Have passed Class 10 or equivalent followed by Class 12 or equivalent.
  • If they have received the National Diploma in Commerce Examination (AICTE or by any recognized board).

CMA Intermediate Eligibility Criteria

  • Passed SSC or equivalent.
  • Foundation or entry level of Common Admission Test (CAT). by Institute of Cost Accountants of India (ICAI).
  • Graduation in any stream (except Fine Arts).
  • Even students who are awaiting results would pass CMA course eligibility.

CMA Final Eligibility Criteria

  • Students who are done with their Intermediate level at school.
  • Graduation in any stream (except Fine Arts).
  • Have passed all eight papers of the Intermediate course.

Job Roles and Opportunities for Finance Courses in India

At the end of the day, for most people, career lies in the job roles they finally acquire. A job role isn't just a role assigned to a person but also the place where his education, hard work and commitments can finally reflect, and he becomes able to produce productive outcomes. In the finance industry, your role can entirely change the base that is the financial system of a company.

Let's analyze what job roles you will be able to get after completing these finance courses:

Certifications

Job Roles

Chartered Financial Analyst (CFA)

  • Financial Analyst
  • Portfolio Manager
  • Investment Banker
  • Risk Manager
  • Research Analyst 

Certified Financial Planner (CFP)

  • Financial Planner
  • Wealth Manager
  • Retirement Planner
  • Insurance Advisor

Financial Risk Manager (FRM)

  • Risk Manager
  • Credit Risk Analyst
  • Market Risk Analyst
  • Risk Consultant

Diploma in Banking and Finance (DBF)

  • Banking Officer
  • Financial Analyst
  • Relationship Manager
  • Credit Analyst

Chartered Accountancy (CA)

  • Auditor
  • Tax Consultant
  • Financial Controller
  • Management Accountant
  • Finance Manager

Certified Management Accountant (CMA)

 

  • Cost Accountant
  • Management Accountant
  • Financial Analyst
  • Budget Analyst
  • Internal Auditor

Frequently Asked Questions (FAQs):

What are the eligibility criteria for the Chartered Financial Analyst (CFA) certification?

The eligibility criteria for the Chartered Financial Analyst (CFA) certification include having a Bachelor's degree, at least 4 years of qualified work experience or a combination of work and university experience totaling 4 years, and a valid international travel passport.

Can I pursue the Certified Financial Planner (CFP) course without a commerce background?

Yes, you can pursue the Certified Financial Planner (CFP) course without a commerce background. The eligibility criteria typically require completion of 10+2 in any stream from a recognized Board with a minimum aggregate of 50% marks. There is no minimum age limit or specific age requirement for the course.

Is there a specific age limit or educational qualification required for the Financial Risk Manager (FRM) certification?

There is no specific age limit for the Financial Risk Manager (FRM) certification. Anyone can take the FRM exam irrespective of qualification; however, it is advised to take the exam after graduation.

What job roles can I expect after completing the Diploma in Banking and Finance (DBF) program?

After completing the Diploma in Banking and Finance (DBF) program, you can expect job roles such as Banking Officer, Financial Analyst, Relationship Manager, and Credit Analyst.

How does IIC Lakshya support students in their journey towards professional commerce courses like ACCA, CA, CMA USA, CMA IND & CS?

IIC Lakshya supports students in their journey towards professional commerce courses like ACCA, CA, CMA USA, CMA IND & CS by providing state-of-the-art infrastructure, residential facilities, regular screenings, timely mock tests, student welfare clubs, and online coaching studios. They aim to nurture raw talent, foster knowledge, and lead students to success in their chosen fields.

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