With the increasing number of foreign companies setting up their businesses in India and the Indian companies going global, the need for finance professionals with global qualifications is increasing. While some may argue that CA’s / MBA’s are qualified to take up such jobs, the companies have started looking beyond these candidates. The reason for this shift is that they are looking for candidates with qualification which are more evolved and more focused. Let’s take the example of CFA, which is focused towards providing you technical knowledge required by all investment professionals. While our own MBA’s / CA’s have some knowledge of these subjects, they lack the depth. This is why we see a lot of students passing the CFA level 1 but struggle with Level 2 and 3. The CFA curriculum has stood the test of times across different countries. Another example is CIMA, which focuses on developing four skills, the technical skills, business skills, people skills and the leadership skills that are essential for modern day finance professional. Just having strong technical skills (like the CA’s) or good people management skills (Like the MBA’s) are not enough in today’s world where all functions / departments are interlinked. To overcome the scarcity of well-equipped finance professional, companies such as Procter and Gamble, Vodafone, KMPG have become learning partner of the CIMA institute, while Morgan Stanley is learning partner of the CFA institute.
Commerce Graduates: Think beyond MBA and CA
The evolution of technology and globalization has led to a paradigm shift in expectation from finance professionals and has created a strong demand for candidates with global degrees such as CFA, CIMA, CPA, CFP, ACCA in India and world-over. These courses offer you specialized skills as well as global know-how to keep you ahead of others. While the traditional courses, like CA and MBA (Finance) are trying to cope with the new and evolving environment, they are facing tough rivalry from the new generation courses. Though this is good news for the students, it also puts a lot of pressure on them to decide the best course for them.