7 Most Sought After Courses After MBA Finance

After finishing an MBA in Finance, you might wonder, “What’s next?” The answer lies in learning more through extra courses.

Why Pursue Additional Courses After an MBA Finance?

Strengthening your skills is essential for staying ahead in the ever-changing financial landscape. Enrolling in specialized courses post your MBA in Finance can bring a multitude of advantages, including:

  1. Gain a Competitive Edge:

In a job market that’s getting more competitive by the day, having extra certifications sets you apart. It not only makes you stand out among your peers but also boosts your chances of landing coveted roles.

  1. Expand Your Skill Toolkit:

As finance continues to evolve, so do the skills in demand. Embracing new qualifications broadens your skill set, unlocking doors to fresh career possibilities and expanding your professional horizons.

  1. Stay Informed and Relevant:

The financial sector is always in motion, with trends, techniques, and tools evolving constantly. Keeping pace with these changes is vital. Additional courses not only help you stay informed but also ensure that your expertise remains current, making you an asset in the fast-paced finance world.

Best Finance Courses After MBA Finance

  1. Chartered Financial Analyst (CFA)

After your MBA in Finance, consider the Chartered Financial Analyst (CFA) path. While your MBA gives you a broad view of finance, the CFA focuses intensely on investments, making you stand out in the finance world.

  • Why Consider a CFA After an MBA in Finance?

Opting for CFA post your MBA Finance showcases a solid grasp of investment analysis and portfolio management, boosting your competitiveness in the job market.

  • Cost of Doing a CFA Course

Approximately ₹4 to ₹5 Lakhs.

  • Average Salary Post a CFA Course 

In general, the average starting salary of a CFA is ₹6 – ₹8 LPA. With enough experience in wealth management and portfolio management, you may also become a Hedge Fund Manager, which may help you earn a salary of ₹15 LPA.

  • Job Opportunities After CFA

A CFA opens doors to various roles like investment analyst, portfolio manager, wealth manager, risk manager, financial consultant, and research analyst. Demand for CFA charterholders is high in investment banks, asset management firms, hedge funds, private equity firms, and financial consulting firms.

Here are some institutes that offer CFA courses:

The CFA program is tailored for individuals with a strong academic background aspiring for front-office investment banking roles or specialization in investment analysis and portfolio management.

On the flip side, for those inclined towards personal finance and wealth management, the Certified Financial Planner (CFP) designation is better suited. CFP equips professionals with holistic financial planning knowledge, making it ideal for client-centric roles and navigating diverse financial scenarios.

84% of our students recommend you join Proschool for CFA Level 1!

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  1. Financial Risk Manager (FRM)

The Financial Risk Manager (FRM) certification, provided by the Global Association of Risk Professionals (GARP), stands as a respected designation for those in risk management. Covering topics like market risk, credit risk, operational risk, and investment risk management, the program comprises two parts and can typically be completed within 1-2 years.

  • Why Consider an FRM Course After an MBA in Finance?

This enhances your profile, making you a valuable asset in roles like risk analyst or credit risk manager. FRM opens doors to diverse opportunities, making it a compelling choice for those aiming to excel in risk management within the finance industry.

  • Cost of Doing FRM

The FRM Program’s cost varies based on your exam registration timing. The one-time enrollment fee is $400, and standard registration fees for each part range from $550 to $750. Additional expenses may apply for preparation courses offered by different institutions.

  • Average Salary Post an FRM Course

In India, those with an FRM certification can expect anything from ₹8 to ₹20 lakhs as an average annual salary. This salary fluctuates based on experience, job role, and geographical location.

  • Job Opportunities After FRM

Earning the FRM certification opens doors to diverse roles in finance, such as risk analyst, credit risk manager, market risk manager, operational risk manager, and risk consultant. Professionals who are FRM-certified are in demand across banks, insurance companies, investment firms,  regulatory agencies, and consulting firms.

  • Here are some institutes that offer FRM courses:

  • Who Should Pursue an FRM Course After an MBA in Finance?

FRM is ideal for risk management enthusiasts, finance professionals looking to stand out, and aspiring risk analysts seeking roles like risk consultant, credit risk manager, or market risk manager.

Also Read – 10 Game-Changing Ways Financial Analytics Boosts Businesses

  1. Certified Management Accountant (CMA)

The Certified Management Accountant (CMA) certification, provided by the Institute of Management Accountants (IMA), focuses on management accounting, financial analysis, planning, and decision-making. This program comprises two parts and can usually be completed within 12-18 months.

  • Why Consider a CMA Course After an MBA in Finance?

Opting for CMA after your MBA in Finance enhances your expertise in strategic financial planning and analysis. This not only sets you apart from your peers but also makes you a more valuable candidate to potential employers.

  • Cost of Doing CMA

The cost of the CMA Program includes a one-time IMA membership fee ($245 for professionals, and $39 for students) and an entrance fee ($250). The standard exam fee for each part is $415 for professionals and $311 for students. Additional expenses may apply for preparation courses offered by various institutions.

  • Average Salary Post a CMA Course

Your salary after becoming a CMA depends on your experience:

    • Entry Level (Less than 3 years): ₹8.3 Lakhs per year on average
    • Mid-Career (4-9 years): ₹12.8 Lakhs per year on average
    • Experienced (10-20 years): ₹16.7 Lakhs per year on average

Earning the CMA designation positions you for various roles and salary levels, showcasing your proficiency in management accounting.

  • Job Opportunities After CMA

Earning the CMA certification opens doors to various roles in finance, such as management accountant, financial analyst, financial controller, finance manager, and chief financial officer. Professionals who are CMA certified are in demand in consulting firms, corporations, and government agencies.

CMA suits aspiring management accountants, finance analysts seeking advanced skills in analysis and planning, and future finance managers looking to enhance strategic financial decision-making.

Also Read – How to build a career in finance industry

  1. Certified Financial Planner (CFP)

The Certified Financial Planner (CFP) certification, offered by the Financial Planning Standards Board (FPSB), is a globally recognized credential for financial planning professionals. Covering topics like investment planning, insurance planning, tax planning, retirement planning, and estate planning, the program comprises multiple modules and can usually be completed within 12 to 18 months.

  • Why Consider a CFP Course After an MBA in Finance?

Opting for CFP after your MBA in Finance showcases your expertise in crafting comprehensive financial plans tailored to individual clients’ needs. This makes you a valuable asset to employers in the financial industry.

  • Cost of Doing CFP

The fee structure for the CFP exam in India is as follows:

    • Exam Fee (1 – 3): ₹6000  per attempt per exam
    • Exam Fee (4): ₹17500  per attempt & submission
    • Registration fee with FPSB India: ₹16,385 for one year
    • CFPCM Certification Fees: ₹12000 
    • Annual Renewal & Material :  ₹26000
    • Total Approximate Cost : ₹1.25 lakhs (including training)

  • Average Salary Post a CFP Course

    • Specialization-based Salaries (INR per year):
      • Financial Analyst: ₹4.1 lakhs
      • Financial Advisors: ₹5.9 lakhs
      • Management Trainee: ₹6.3 lakhs
      • Financial Manager: ₹8.7 lakhs
      • Financial Planners: ₹4.5 lakhs
      • Mutual Fund Admin: ₹5.6 lakhs
      • Experience-based Salaries (INR per year)
    • Experience-wise breakup:
      • Entry level: ₹2 – 4 lakhs
      • Intermediate: ₹4 – 8 lakhs
      • Experienced: > ₹8 lakhs
      • In the US, the average salary of a CFP is $121,099 per year.

  • Job Opportunities After CFP

Earning the CFP certification opens doors to various roles in finance, such as financial planner, wealth manager, investment advisor, estate planner, and insurance planner. Professionals who are CFP certified are in demand in banks, insurance companies, wealth management firms, and financial planning consultancies.

CFP is advantageous for aspiring financial planners specializing in tailored financial plans, wealth management enthusiasts providing financial advice, and investment advisors guiding individuals on their investment journey.

Learn financial planning from faculty who are themselves certified CFPs

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  1. Financial Modeling and Valuations

Financial Modeling and Valuation is a globally recognized skill essential for professionals aiming for core finance roles. This certification covers Excel-based financial modelling, business valuation, and financial analysis, and the program is designed with multiple modules that can typically be completed within 4-6 months.

  • Why Consider an FMV Course After an MBA in Finance?

It highlights your expertise in crafting financial models, valuing businesses, and analyzing financial data. This makes you a valuable asset to employers in the finance industry.

  • Cost of doing FMV Course

The cost of the FMVA Program can range from $400 to $500, depending on the institution and the level of detail covered in the course.

  • Average Salary Post an FMV Course

In India, individuals holding the FMVA certification can anticipate an average annual salary between ₹8-₹22 lakhs, with variations influenced by factors like experience, job role, and location.

  • Job Opportunities After FMV Course

Earning the FMVA certification opens doors to various roles in finance, such as financial analyst, investment banker, valuation analyst, financial modeller, and equity research analyst. Professionals who are FMVA certified are in demand in private equity firms, and financial consulting firms. investment banks and hedge funds firms. 

  • Who Should Pursue an FMV Course After an MBA in Finance?

FMVA is beneficial for financial analysts aspiring to excel in analysis roles, investment enthusiasts interested in investment banking and equity research, and valuation professionals specializing in business valuation.

Become a certified Financial Modelling Expert in just 4 months. Learn from the pioneers of Financial Modelling 

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  1. Certified Public Accountant (CPA)

Provided by the American Institute of Certified Public Accountants (AICPA), CPA stands as a highly respected credential for accounting professionals globally. Covering auditing, financial accounting and reporting, regulation, and business environment and concepts, the program comprises four sections and can typically be completed within 12-18 months.

  • Why Consider a CPA Course After an MBA in Finance?

Opting for the CPA certification post your MBA in Finance enhances your skills in accounting, financial reporting, and auditing. This makes you a valuable asset to employers in both the finance and accounting industries.

  • Cost of doing CPA

The cost of the CPA Program includes a one-time application fee ($150-$200, depending on the jurisdiction) and an examination fee for each section ($226.15 per section). Additional costs may apply for preparation courses offered by various institutions.

  • Average Salary Post a CPA Course

Indian professionals holding the CPA certification can anticipate an annual average salary ranging between ₹8 and ₹25 lakhs, with variations based on factors like experience, job role, and location.

  • Job Opportunities After CPA

Earning the CPA certification opens doors to various roles in the financial and accounting industries, such as public accountant, auditor, tax consultant, financial analyst, and financial controller. Professionals who are CPA certified are in demand in accounting firms, government agencies, corporations, and non-profit organizations.

CPA is valuable for aspiring accountants aiming for excellence in accounting roles, audit enthusiasts interested in auditing, and tax consultants pursuing a career in tax consulting.

Get best in class study material, live classes & placement support in your CPA journey at Proschool

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  1. Advanced Management Program (AMP) or PhD in Finance

The Advanced Management Program (AMP), also known as PhD in Finance, is tailor-made for seasoned finance professionals eager to broaden their expertise in finance and leadership. Covering corporate finance, financial strategy, risk management, and leadership development, the program duration varies, typically ranging from a few weeks to several months.

  • Why Consider an AMP Course After an MBA in Finance?

Opting for an AMP in Finance after your MBA in Finance helps in developing strategic thinking, enhancing decision-making abilities, and improving leadership skills. This makes you a more effective leader in the finance industry.

  • Cost of doing AMP

The cost of the AMP in Finance varies depending on the institution and program duration, ranging from ₹2 – ₹15 lakhs or more. Some institutions may offer scholarships or financial aid to assist in covering program fees.

  • Average Salary Post an AMP Course

Professionals who complete an AMP in Finance can expect an average annual salary ranging from ₹15 – ₹35 lakhs or more. This salary varies based on factors like experience, job role, and location.

  • Job Opportunities After AMP

Earning an AMP in Finance opens doors to various job opportunities in the financial industry, such as finance director, chief financial officer, financial consultant, and senior finance manager. Professionals with an AMP in Finance are in demand in investment firms, banks, corporations, and financial consulting firms.

AMP is beneficial for seasoned finance professionals seeking enhanced leadership skills, aspiring finance leaders aiming for top roles, and strategic decision-makers looking to excel in strategic decision-making.

Also Read – Career opportunities in microfinance industry

Factors to Consider When Choosing a Finance Course

  • Identifying Skill Gaps and Industry Trends

Firstly, think about what skills you already have and what the industry is looking for. Consider courses that bridge the gap between your current skills and the ones in demand. This ensures you stay relevant in the evolving world of finance.

  • Evaluating Cost and Time

Next, look at the practical side. Check the cost and the time each course requires. This way, you can choose a course that fits your budget and schedule. Remember, the goal is to enhance your skills without breaking the bank or overwhelming your calendar.

FAQs

  1. Which course is best after an MBA in Finance?

It depends on your career goals. CFA is great for investment roles, while courses like FMVA and CPA are good for financial modelling and accounting.

  • Is a CFA worth it after an MBA?

Yes, if you’re interested in investment roles. CFA deepens your knowledge and can boost your career in finance.

  • Who earns more, an MBA or a CFA?

Career Stage

 CFA Salary (Approx.)

MBA Salary (Approx.)
After CFA Level-1 ₹3-4+ Lakhs P.A. –
After CFA Level-2 ₹6-10+ Lakhs P.A. –
After CFA Level-3 ₹12+ Lakhs P.A. –
After CFA Charter ₹18+ Lakhs P.A. –
MBA Finance Average Salary – ₹3,98,526 per year
MBA Finance Additional Cash Compensation – ₹48,526 (Range: ₹30,000 – ₹1,50,000)
MBA Top Institutes Packages – ₹15 Lakh + P.A.
Investment Banking & Consulting: $100,000+ plus bonuses. 

Note: Achievable from day one for graduates of top MBA institutes like ISB, IIM Calcutta, IIM Ahmedabad. CFA professionals typically reach this level after 5 years of industry experience.

  • Key considerations for choosing a post-MBA finance course?

Identify skill gaps, consider industry demands, evaluate costs and time commitments, and align the course with your career goals.

  • How does pursuing additional courses enhance career prospects?

It shows commitment to learning, updates skills, and makes you more competitive in the job market, opening doors to better career opportunities.

  • Costs associated with certifications like CFA and FRM?

Costs vary.

CFA (all 3 levels) course fee: It averages between $3,220-$8,050

FRM course fee: New candidates pay a total of USD 1000 (USD 400 enrollment fee + USD 600 exam fee), while standard registration (from February 1) costs USD 1200 (USD 400 enrollment fee + USD 800 exam fee). Returning candidates registering early pay USD 600 (exam fee), and standard registration incurs USD 800 (exam fee).

  • How do AMP or PhD in Finance differ from professional certifications?

AMP and PhD focus on executive education and research, while professional certifications like CFA and FRM are more practical and geared toward specific finance roles.

  • Emerging trends in the finance industry to be aware of?

Keep an eye on fintech, sustainable finance, digital transformation, and data analytics as they continue to shape the finance industry.