Which Financial qualification>>

CIMA

#1

Hello Lovely people,

I am a new entrant in Financial industry and I am working in investment as an administrator.Basically I am enjoying it but my work is mostly clerical.So I want to advance my career by getting a good qualification preferably in Finance/management .I am already an MBA (But in Marketing)…and I have over 3 years of experience in working with Business Banking -sales. But now I want to specialise in a core discipline.

Can you suggest a qualification which is globally recognised like CIMA, may be CFA…But Ii just know their names dont know anything else.
Please guide me through how I can progress through my ‘clerical’ role as I dont want to be’under utilizing’ my qualifications and potential.

Thanks


#2

Hi there,

It is good to obtain a qualification, but you need a plan as to where you want to progress to before you dive in to one! They are all fairly time consuming and expensive.
Also, you usually want to combine getting a qualification with gaining relevant experience, so that you can progress forward quickly after qualifying. There are many firms that will pay for your qualification if you work in a relevant role.

  • CIMA: This is an accounting qualification, usually described as the “industry route”. You could work as a trainee accountant in a variety of functions in an organisation whilst you study. The exams have a lot of emphasis on management reporting and corporate strategy, so you would probably get a role in forecasts/ budgets/ analysis/ strategy etc.
  • ACCA: Similar to the CIMA, but concentrates more on technical accounting practices and can lead to being a corporate accountant/ auditor etc.
  • ACA: If you do the ACA you are probably within a large accountancy firm (popular within the Big4) and you are likely to train in audit on a training contract for 3 years. Can lead to audit (internal/ external), financial management/ accounting roles etc.
  • CFA: For investment professionals. It is intense and takes approx 4 years to complete. Can lead to portfolio management, financial advisor etc. Maybe you can progress in your current organisation with the CFA to a more commercial role.

Hopefully this helps! Good luck.


#3

@Lauren.Eli Really helpful your information. In short comment, you clear all the doubts related to ACCA & CIMA. I confused in between ACCA & CIMA exam. Now I am clear to pursuing the ACCA exam.