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Top 10 Best Finance Courses in India
In today’s fast-paced and dynamic world, understanding the fundamentals of finance has become essential for both personal and professional growth. Whether you are looking to enhance your financial literacy, pursue a career in finance, or manage your personal finances better, enrolling in finance courses can provide you with the knowledge and skills you need. This article explores the importance of finance courses, the different types available, their benefits, and tips for choosing and succeeding in them.
1. Chartered Accountancy (CA)
CA is the most popular and reputed accountancy course in India offered by The Institute of Chartered Accountants of India (ICAI). To clear this tough exam, you have to go through three levels:
- Foundation (previously known as CPT (Common Proficiency Test)):
Candidates who are undergraduate with 60% or more, or a graduate in commerce with 55% or more, are exempted from this level.
- Intermediate (previously known as IPCC (Integrated Professional Competence Course)):
It has 2 groups and each group has 4 subjects. For clearing this level, you must score a minimum 40% marks in each subject and an aggregate of 50% in each group.
- CA Final:
This level also has 8 subjects and the condition for passing is to score 50% marks aggregate in all subjects.
Although there are three levels, the candidates have to do an internship of 3 years under a certified CA to gain practical knowledge and experience.
The salary for CAs are generally in the range of 5-12 lakh per annum. The Chartered Accountancy Coursecompletion along with articleship takes roughly 5 years to complete. It seems a long period, but it’s really worth it.
2. Company Secretary (CS)
CS is another popular career choice among the finance courses stream students and professionals. After CS, one works for a Secretarial position in a company and the responsibility of managing legal and tax becomes part of your job role.
The Institute of Company Secretaries of India (ICAI) conducts and regulates everything related to the profession CS. Like CA, it also has a mandatory 15-month practical training. The course structure is as follows:
- Foundation Programme
- Executive Programme
- Professional Programme
- Management Training
The eligibility of the course is 12th pass or Graduate and the duration is generally 4.5 years (including training). A Company Secretary generally earns a salary between the range of 5 to 7 lakh per annum.
3. Certified Public Accountant ( USA CPA)
CPA is a similar course to CA but the difference is that it is designed from a global perspective. It is offered by the American Institute of Certified Public Accountant (AICPA).
So it’s a good alternative to CA having a better clearing percentage and requiring less time (2 years) when compared to a CA (hardly 4-5% candidates become CA every year) and globally recognised.
After this course, one gains in depth knowledge of accountancy, taxation, auditing, legal frameworks, and financial planning. Companies across the globe prefer CPA and the best part is they also pay higher.
Obviously the fee is higher, but for a higher position finance courses, recognition, and higher salary (8-10 lakhs: average), it’s worth investing in CPA.
4. Chartered Financial Analyst (CFA)
CFA is considered as the rigorous course exposing you to all aspects of finance, be it financial reporting and analysis, taxation, corporate finance courses, global operations, debt, equity investments, portfolio management and wealth management, real estate investments, private equity, commodities, or ethical standards.
Offered by the USA body CFA, this course is globally recognised and highly valuable. Thus CFAs are also highly paid and earn an average salary of 10-12 lakhs. The course duration is less than a year and the required eligibility is Graduation with 2 years of experience finance courses.
It’s a great course with a fee of INR 2-2.5 lakhs and will bag you senior positions in an organisation.
5. Financial Risk Manager (FRM)
FRM course is offered by the US body Global Association of Risk Professionals (GARP). As the name itself suggests, this course is more focused on managing financial risks in a business to make business strategies successful.
This is again a globally recognised and accepted course which you can complete in 2-3 years of tenure. Again the passing percentage is very high when you compare it with Chartered Accountancy. The minimum eligibility is just a bachelor degree and 2 years of experience.
After FRM, you are offered promising roles in Risk Management, Credit, Trading, Structuring, and Modelling, etc.
6. Certified Management Accountant (CMA)
CMA is popular globally and this course is offered by the US body Institute of Management Accountants (IMA) which operates in 140 countries.
Finance courses
CMA is offered in India and UK also, but they are of longer duration and not globally recognised. It’s a great course fetching an average salary of INR 8-10 lakhs.
7. Association of Chartered Certified Accountants (ACCA)
This course is offered by UK body ACCA which operates in 179 countries. The big highlight of this course is its minimum eligibility criteria which allows you to pursue this course before Graduation.
This course also offers you 360-degree knowledge of accounting domain including Financial Accounting and Management, Business Accounting, Corporate Accounting, Business Law, Taxation, Performance Management and Analysis, Audit, Financial Reporting.
The duration for CCA is 2 years, passing rate is high (~50%) and the salary generally lies between INR 8-16 lakhs per annum depending upon role offered and company.
8. Certified Financial Planner (CFP)
CFP is offered in India by the Financial Planning Standards Board of India (FPSB, India). It is one of its own when it comes to financial planning and advisory.
It is recognised and accepted in 22 countries across the world. You will obtain your degree/certificate once you fulfill their criteria of 4 Es: Education, Examination, Experience and Ethics.
After CFP, you can become a consultant for individuals or work with corporates like Banks, Insurance companies, Brokerage Houses, etc.
The eligibility of the course is Bachelor’s degree with a passport.
9. MBA in Finance
This is a great degree to pursue which gives you a holistic view about business including Marketing, HR, Operations and Analytics with special focus on Finance courses.
The two-year course will help you bag top positions in corporates. Of course, you must hold a bachelors degree in commerce or other relevant field to opt for an MBA in Finance.
Fees for the MBA Finance courses will vary from college to college as private colleges are expensive when compared to government colleges.
Expected starting salary for an MBA is INR 6 lakhs per annum.
10. Accounting Technician Course (ATC)
If you want to choose an easy course with a less rigorous process, ATC is a decent course you can look for.
The finance courses has three stages:
- Clearing Accounting Technician Exam
- Go through 35 hours of Orientation, 100 hours of IT Training
- 12 months of work experience under the guidance of a CA
Best Finance Courses: Additional List
Other good finance courses you can go for are:
- Actuary
- Insurance Institute of India
- Certification courses on Coursera, Udemy, edX, LinkedIn, etc.
- NSE Certification