Finance Certifications
Of the many finance certifications on the market today, there are very few that are truly in demand and are worth the time and money. As with nearly any other profession, many training companies create the certification, then try to sell you the classes to complete the certification exam. Of course, sometimes this works out and the certifications become in demand, but for the most part the only finance certifications that matter come from universities or trade organizations. It takes a lot of research to determine which is which, but you can always search for the certification by name in the job boards. The will allow you to get a feel for how many companies are asking for the certification by name and what the starting salaries are for individuals that have the specific certification.
Finance Certifications – The Short List
Certified Financial Planner – No finance certifications list would be valid if it didn’t include the CFP. This is the main standard used by organizations to certify an employee has knowledge in financial planning. This certification allows CFP’s to help people invest for the future and is specifically used to help people plan for their retirement. The certification is not easy and seems to be getting harder all the time. In addition, you also have to have documented relevant work experience before you can sit for the exam.
Certified Public Accountant – Of course, CPA is the gold standard in accounting. You have to have documented work experience and pass a very difficult exam to hold the CPA designation. This is one of the most respected finance certifications in the world and few will ever doubt the knowledge and experience of a CPA.
There are also many more finance certifications that are valuable and valid. These range from becoming a funds specialist to a risk assessor. These are all fantastic certifications, but they are usually highly specialized and are only designed to serve a specific function. There are dozens and they go beyond the scope of this article. However, if you are interested in something a little more honed than the two certifications that we listed above, a simple search on the Internet should point you in the right direction.
Finance Certifications – Summary
The simple method described above to evaluate the demand and salary levels of people with these certifications could go a long way. When you search the job boards and don’t find anyone in the country looking for a specific certification, it is an excellent indicator that you should move onto a different finance certification. Also, if you find a lot of results for the name of a finance certification, you should also understand what other experience or certifications the employer is looking for. If certification A is meaningless without certification B as well, then you better get both or move on.
Finance is an interesting field and one I would highly recommend. Although it is much easier if you have a degree, especially an advanced degree, it is not absolutely mandatory. You can still work in the industry and have a lucrative career with finance certifications and experience. I’ve been working in the field for quite some time and my lack of degree rarely comes up. When it does, it is usually a mandate from HR, not from the actual finance group. However, since I’m pretty close to completing my degree, this should no longer be an issue for me in the coming months. Once done, the degree and the finance certifications I already have will open up even more doors in the industry.