Which certification can help me to give me a strong profile for an MBA in finance?

Dear Aarush,

It's great to know that you have a focused goal from now itself and you clearly know what you want to do. You have a plethora of options to choose from when it comes to certifications in the field of finance. But let us first understand what does MBA in Finance mean and lead to.

What is MBA in Finance?

It provides an understanding of financial concepts from a managerial perspective. Hence, during the course a thorough knowledge of fundamental financial concepts like corporate finance, budgeting, costing, international finance, investment & securities,finance management, accounting, financial reporting analysis and working capital management, etc. will be provided.

The students are further, trained on thinking analytically, developing an aptitude in financial decision making by balancing risk and profitability. Developing financial processes for different business models. It also provides a managerial perspective on these concepts and relates them to varied business models and business scenarios that exist in the financial world.

The pedagogy includes lecture, projects - individual as well as group, case studies, competitions and immersion courses. You'll also have the option to choose electives in a further specialized field of your interest.

Now, that you know what you'll be taught in an MBA Fin course, let us look at the certifications to help you make your choice:

1. Chartered Financial Analyst (CFA) : This is a long term finance certification course. It’s more of a parallel to MBA. It has 3 levels and you'll receive the certification for each level once you successfully complete the same. It is ideal for students planning for a Financial Markets based career in Wealth Management, Investment Banking, Portfolio Management and Research Analysis. Becoming a CFA holder requires you to have 4 years of professional work experience, apart from clearing all the 3 levels. However, a student can clear CFA – Level I, which does not have any restriction on minimum work requirement. Examination frequency: It is held t wice in a year – June and December in 8 Testing centers across India.

   Total Cost: One-time Registration fee for all the 3 levels: $ 450 (INR 31,500)
   Level I Examination Fee: maximum $1380 (INR 96,600)
   Also, Institutes charge anywhere from INR 30,000 – 50,000 for a CFA training.The exam fees also varies in the range of $650-$1380, depending on how early your register for the exam. Note: You'll have to pay examination fee for Level 2 and Level 3 too once Level 1 is cleared and you want to complete all remaining levels.
   
   

2. Certified Financial Planner (CFP) : Financial Planning includes Retirement Planning, Insurance Planning, Investment Planning, Tax & Estate Planning. This International Certification is awarded in India by Financial Planning Standards Board of India (FPSB) .

   There are two ways to achieve the CFP certification – Regular Status (https://india.fpsb.org/) and Challenge Status (https://india.fpsb.org/challenge-status-process/) . If you are pursuing MBA currently, you will be eligible for the Regular Status Pathway. In (http://www.fpsbindia.org/scripts/PathwaytoCFPCertification.aspx) Regular pathway. you need to clear a set of 5 examinations ranging from Risk Analysis and Insurance planning to Advanced Financial Planning. In the Challenge pathway, you only have to write the 5th exam.

   Recommended learning hours: 250 hours

   Examination frequency: Three times in a Year at across 155 NCFM testing centers

   Total Cost: Registration & Examination fee: INR 20,000, Annual renewal fee of INR 6000

3. FLIP Certifications : It offers short-term finance certification courses that are highly practical and industry-endorsed. These job oriented training programs in the BFS has an alumni base of 70,000+ including students and working professionals. Recruiters from leading banks & Financial Institutions prefer/give weightage to FLIP certified candidates. T he courses are written by practicing Industry professionals.

   FLIP’s Finance & Banking Fundamentals course provides a strong foundation on critical finance concepts, how financial markets playout and an overview of the banking business. Further, as per your need in specialization,  training & certifications in 26 advanced, aspirational areas like Investment Banking, Risk Management, Capital Markets, Wealth Management, Corporate Banking and Banking Operations are also offered.

   Recommended learning hours: 30-50 hours

   Examination frequency: It is conducted throughout the year, in 36 centers across India

   Total Cost: Online Learning, Unlimited support, Examination, and Certification is INR 5000 – 12,000