There are many finance courses in India. Finance is typically what deals with money. These courses specialize in general finance, corporate finance, insurance, risk management, capital markets including shares, derivatives and mutual funds, etc. People have a choice between which courses to choose based on their interest in finance. But one factor that needs to be considered is the future of a particular course. If the insurance industry is on a decline then doing insurance course may not promise a good job. Other important consideration is that the course should be recognized by a national body like Universities Grants Commission (UGC) or AICTE approved.
Masters of Business Administration (MBA):
MBA is one of the most popular courses that aspiring finance professional take up all around the world. An MBA done from a leading institution offers almost 100% placements in good companies. MBA in finance have different fields as mentioned in the introductory paragraph. Some of the top institutes in India for MBA finance course include the Indian Institute of Management (IIM), SIBM, NMIMS, etc. It is said that MBA is losing its polish slowly but it may be true for third grade courses. Top institutes continue to flourish.
Chartered Financial Analyst (CFA)
CFA is extremely helpful for professionals who are interested in investment and capital markets as the whole programme is focussed on capital markets and investment management. CFA has the biggest advantage that it can be pursued along with your job as it is a self-study course. Combined with MBA, CFA promises handsome income and an edge over other competitors.
Actuarial Sciences as it is called as it is a course which is meant for the insurance industry. It has a total of 15 papers after the completion of which the person can get jobs in insurance sectors namely premium calculation, policy formulation or insurance marketing with an average package of around INR 50 lakhs. Actuaries have an added advantage that the person can do a job along with clearing the papers and each successive paper adds to the existing pay package the person is getting. There are around 200 fellow actuaries in India.
Chartered Accountant (CA)
The course needs no introduction. It is one of the most widely sought after finance professions in India. A practising CA is guided by the rules of ICAI and has got the legal right to file for ITRs of clients and doing audit of companies. CAs earn hefty fees for the services rendered. CA is a sure shot way of getting a job or starting your personal practice because the economic scenario implies that there will be new businesses opening every time and it is compulsory under government regulations for a company to get audited by a CA. CA is also a practical course as the person is required to undergo training on a continuous basis under another CA or CA firm without which the person can’t become a CA charter holder. Preparation of CA happens in multiple phases and if did seriously without fail it can be cleared in around 4 years.