Being a certified Chartered Accountant doesn't guarantee a good salary or a highly paid job opportunity by itself. With the constant rise in competition, One must pursue certain other courses after CA to make a firm backbone of skills and intellect which works as a magnet for better Career options. Some of the courses as per their recent demands are listed as follows:
Investment banking is a unique division of banking that serves individuals or companies to raise capital and contribute financial consultancy assistance to them. They serve as mediators between security issuers and investors and encourage new firms to go public.
Certifications that one can get in order to pursue Investment Banking are :
1. Chartered Financial Analyst (CFA) certification -
conferred by the Chartered Financial Analyst Institute to professionals. It checks one's knowledge and Aptitude in Finance.
Eligibility - Graduation
Duration of course - 1.5 - 4 years
The CFA Programme comprises three levels and each level comprises a six-hour exam. Candidates have to pass these three extensive exams in order to get the CFA credentials. There is a specific weightage given to every subject at different levels of the course.
level I - basic aspects of Investment Analysis. There are 10 topics that are covered using Investment tools.
level II - Application of investment tools and topics on the valuation of different types of assets.
level III - wealth planning and effective portfolio management.
Salary - INR 6.5 LPA - INR 41 LPA
2. Certified Public Accountant (CPA) Certification -
It is American version of CA, advanced accounting accreditation given by American Institute of Certified Public Accountants to professionals in the accounting and finance industry.
Eligibility - CA, M.Com, MBA
Syllabus and exam - Broken into following four sections.
● Auditing and Attestation (AUD),
● Financial Accounting and Reporting (FAR)
● Regulation (REG),
● Business Environment Concepts (BEC)
3. Financial Risk Manager (FRM) Certification -
Mostly accepted credential. It is regularly updated and improved for any new skills of risk management and quantitative analysis.In order to become a Certified Financial Risk Manager after passing the FRM Exam Part I & II, candidates must demonstrate a minimum of two years of risk-related full-time professional experience positions including portfolio management, risk consulting, and other fields.
The Part I exam focuses on the essential tools and concepts required to assess financial risk. This exam is available in the month of May and November each year. There are 100 multiple choice questions to be attempted within the duration of 4 Hours.
The Part II Exam focuses on the practical application of risk management tools covered in Part I to specific areas of risk management such as credit risk, market risk, and operational risk. This exam is available in the month of May and November each year. There are 80 multiple choice questions to be attempted within the duration of 4 Hours
4. Financial Modeling Certification -
It facilitates the financing experts to create compelling models to interpret financial accounts and investment analysis by assessing several circumstances to arrive at ideal business solutions and to assist them in making better decisions. This is achieved by gathering and studying the past records of a company.
DISA (Diploma in information system)
Diploma in Information System Audit is offered by ICAI with the objective to enhance professional skills of its members in the area of IT dynamics. It is now compulsory for Bank Audit. This course prepares members to offer services in the area of information security & business continuity which are relatively new avenues as compared to traditional practice. DISA exam pattern is aligned with its global peer CISA (Certified Information System Auditor). It is highly recommended to refer www.cisaexamstudy.com and attempt all MCQs available therein.
CISA ( Certified Information system Auditor)
CISA certification is foundational to a successful IT career. It is an advanced version of DISA and thus increases the chances of acceptance and more opportunities for jobs.It refers to a designation issued by the Information Systems Audit and Control Association (ISACA). The designation is the global standard for professionals in auditing, control, and security.
The CISA exam is open to any individual who expresses an interest in IS auditing, control and security. It is four hours long and consists of 150 multiple choice questions set around five job practice domains:
The process of auditing information systems.
Governance and management of IT.
Information systems, acquisition, development and implementation.
IS operations, maintenance and service management.
Protection of information assets.
A score of 450 or higher (scored on a scale of 200 to 800) is required to pass the exam. It is administered in June, September and December in testing locations worldwide. The exam is offered in languages like English, Chinese Mandarin Simplified, French, Japanese, Korean and Spanish.
The preparation material can be found through ISACA.
LLB (Bachelor of Legislative Law or Legum Baccalaureus)
Apart from the above-listed courses, One can pursue LLB (Bachelor's in Law) too as it provides a gateway and platform in dealing with legal aspects of a company.
Moreover, courses like Certified Internal Auditor, CS can also be pursued for a wide range of exposure in Career aspects.