Top 5 Short Term Finance Courses in India
In this digital age, young millennials want quick access to a successful career. While there is no short-cut to success, there are many short-term courses that accentuate your chance to outperform your peers. Finance is a highly sought after educational field, and short-term certifications in Finance are very much in vogue today. These courses provide the necessary skills in a relatively short period of time and can be conveniently taken with existing work or studies.
We have compiled a list of top 5 courses that are highly preferred by both students and employers. This is an indicative list that was formed by analyzing Google Trends, the availability of jobs on the main portals and the general popularity among applicants.
Some reasons why students are more inclined to short courses are:
Fast Learning – These short-term courses allow for faster knowledge building, sometimes in as little as 3 months. This criterion is gaining more relevance today as students can quickly upgrade to better opportunities.
Rapid changes: The world of finance is changing rapidly. The changes are of all kinds, macro, micro and specific to each country. For example: Take the case of GST and IFRS. With such a major change in the tax regime and financial reporting standards, it becomes mandatory for professionals to quickly learn the new ways and implement them.
Testing the waters: Fresh graduates or 10+2 swoons are mostly faced with the dilemma of which field suits them. These short-term courses help students realize where their true potential lies in the most cost-effective and time-efficient manner.
1. Financial Modeling
Financial modeling is the backbone of today’s financial industry. It works on a basic principle of working with historical data of a company/industry, analyzing its performance and building models to predict its future performance. Knowledge of financial models helps you master advanced Excel skills and sharpen your ability to judge the future course of events. These qualities are essential for a good analyst working in any field. Although there are several courses on the market, the one offered by NSE Academy stands out. The module covers basic and advanced levels. After completing the certificate, you will be able to work as a financial modeler in functional areas such as:
• Investment banking
• Credit scores
• Project Financing
• Fusions and acquisitions
• Financial analysis
Certification Providers: NSE Academy, Edupristine, Simplilearn
Duration: 3-6 months, Fee Range: Rs 25,000 to Rs 30,000
2. International Financial Reporting Standards (IFRS)
Due to globalization, most countries are converging their standards towards IFRS or adopting IFRS as is, to enable uniform reporting. India, as a further step towards convergence with IFRS, has adopted IND-AS. Various IFRS profiles are being offered in various industry sectors including ITES, Software, Pharmaceutical, Auto Parts, Professional Consulting Firms, Audit Firms, Banking Industry, Insurance Industry, KPO etc. Trained and experienced IFRS experts can set up their own consultancies to help companies migrate to IFRS.
Candidates seeking undergraduate, postgraduate degree in commerce or qualified professionals such as MBA, CA, CMA, CS, CFA, CFP or any other relevant course in the field of finance can opt for this IFRS certification.
Certification providers: NSE Academy, Dip and Cert IFRS: ACCA, Edupristine, KPMG, Ernst & Young
Duration: 3-6 months, fee range (training and exams): Rs 25,000 to Rs 40,000
3.NCFM
The NCFM modules offered by the NSE Academy have been one of the most recognized certifications in the capital markets industry. For some profiles in the capital markets, this certification is mandatory. Currently, the NSE Academy offers certifications in Capital Markets, Derivatives segment, Debt market, Banking and Risk Management. There are beginner, mid-level and advanced modules for the financial markets certification and the training curriculum is designed to deliver balanced learning in both conceptual and practical aspects.
Certification Providers: NSE Academy
Duration: 3 months / Flexible, fee range (training and exams): Rs 2,000 to Rs 6,000
4. Chartered Financial Planner (CFP)
Indians always lacked knowledge about Personal Finance planning. However, the tide is changing and more working-class youth are getting used to the idea of saving and investing. There is a growing number of companies and portals offering financial planning advice and employing Chartered Financial Planners for the same. An increasing number of multinational companies, such as ICICI Bank, Standard Chartered Bank, American Express Bank and others, have made it mandatory for their relationship managers to acquire CFP certification to raise current service standards.
According to current industry estimates, the need for financial advisors will be around 50,000 in the next few years. If you want a career in financial planning, wealth management or retail with a globally recognized certification, CFP is the right course to pursue.
There are several training providers. The duration and range of fees are mentioned below.
Duration: Within 1 year, Fees (Training, registration and examination): Rs 25,000 to Rs 40,000
5. Chartered Wealth Manager (CWM)
If managing wealth and assets is your forte, Chartered Wealth Manager is a course to take. CWM is often confused with CFP, but both cater to two different arenas. Wealth management is a more comprehensive field than financial planning. CWM is organized by the American Academy of Financial Management (AAFM).
CWM covers capital and the financial market, principles of financial services organizations, investment and portfolio management, and other financial market knowledge. The key profiles in which a CWM can be employed are Portfolio and Asset Manager, Wealth Manager, Broker, Market Analyst, Financial Controller, Private Banker.