The financial industry is one of the most lucrative industries on the planet. You require a college degree to work in most Wall Street offices and finance companies in the country.
However, financial certifications may also be acceptable. When you choose to do a financial certificate course, you should ensure it has the highest ROI.
There has been a [proliferation of financial courses in the market, making choosing the right course a challenging proposition. The following are the financial certifications with the best ROI.
Certified Public Accountant (CPA)
Being a CPA has long been a prestigious career because it is one of the most vital professions in finance. All businesses need accounting services, and accounting is the language of business.
Many CFOs, accountants, and stock analysts get their CPAs so they can advise clients on tax and accounting issues. In the US, the CPA certification is authorised by the AICPA (American Institute of Certified Public Accountants).
It is a challenging financial certification requiring over 150 hours of study time/classes, after which you must pass a challenging exam. The pass rate for the first-time attempt at the CPA in the US is 50%.
The Association Of Chartered Certified Accountants (ACCA)
The Association Of Chartered Certified Accountants (ACCA) is a prestigious global accounting body. Getting ACCA certification means you can work as an employee in any aspect of the business.
A Chartered Certified Accountant must be an ACCA member and will receive legal protection in that respect. You need to pass a total of 14 examinations to achieve ACCA certification.
You can take up to 4 exams in each module which covers six months with two annual exam dates in June and December. Therefore, you can become a Chartered Certified Accountant in two to three years. However, you have up to ten years to complete the exams.
Certified Financial Planner (CFP)
Suppose you want a more holistic approach to financial planning. In that case, you should pursue Certified Financial Planner (CFP) certification. Money management is only one element of becoming a CFP, as client relationships are also vital.
To get CFP certification, you must be a college graduate, complete financial planning coursework, meet a three-year work experience requirement, satisfy professional conduct or ethical standards, and pass a one-day, 6-hour board exam. It has a high ROI because CFPs take a big-picture view of clients’ finances and often work with wealthy individuals and families.
Chartered Financial Analyst (CFA)
The Chartered Financial Analyst (CFA) is one of the most prestigious and recognized financial certifications in the world of money and wealth management. The CFA certification is administered by The CFA Institute’s Council of Examiners.
They maintain the curriculum and ensure it is relevant to the marketplace. The curriculum is at a graduate level, and students often prepare through self-study though there are many preparation courses online.
You must pass three examination levels and have at least four years of full-time relevant experience to get CFA certification. It is one of the most challenging financial certifications, with a pass rate of less than 20%.
Chartered Alternative Investment Analyst (CAIA)
Chartered Alternative Investment Analyst (CAIA) is one of the most lucrative financial certifications to pursue if you want to go into asset management or work with hedge funds.
Subjects to study under this finance certification are private equity, hedge funds, ethics, risk management, asset allocation, and structured products. The certification is divided into two levels: the first covers the terrain of financial products, while the second builds on the first and includes the application of asset management principles and practices.
A substantial part of the exam is an ethics component borrowed from the CFA Institute’s Code of Ethics and Standards of Professional Conduct. The total cost of the course is about $3000. However, you will recover quickly if you pass the exam.
Many financial certifications will help you work in finance, but they require resources and rigorous study. The above are several of the financial certifications with the highest ROI. Learn more about them to discover which is best for you.