Pursuing a certification in finance or accounting can greatly improve your job prospects after completing your M.Com degree. Certifications such as CA, CPA, ACCA, CFA, CMA, FRM, and CFP provide specialized knowledge and are recognized worldwide, making you a more attractive candidate for employers.
In this blog, we will explore the top 12 finance and accounting certifications that can complement your M.Com degree. We will discuss each certification, its benefits, and how it can help you build a successful career in the finance industry.
Why Should You Consider Finance and Accounting Certifications?
- Better Job Opportunities: Employers love candidates with extra skills. Having a certification shows that you have specialized knowledge, which makes you stand out from others and improves your chances of getting a job.
- Higher Salary: Certified professionals often earn more than those without certifications. When you show your expertise through certification, it increases your chances of landing a well-paid job.
- Global Recognition: Certifications like CFA or CPA are known worldwide. If you have one of these certifications, you can find job opportunities not just in India but also in other countries.
- Career Advancement: Getting certified can help you move up the career ladder more quickly. With specialized knowledge, you’ll be better prepared for higher roles and leadership positions.
- Specialization in Key Areas: While your M.Com degree gives you a general understanding of finance, certifications allow you to specialize in areas that interest you the most, like taxation, risk management, or financial analysis.
Top 12 Finance and Accounting Certifications You Can Pursue After M. Com Degree
1. Chartered Accountant (CA)
The Chartered Accountant (CA) certification is a well-respected qualification in the accounting world. It focuses on important areas like accounting, auditing, taxes, and business laws. In India, CA professionals are highly valued and have many career options, such as working in accounting firms, and banks, or even starting their own business.
This certification is ideal for those who want to specialize in accounting and pursue senior positions like a CFO or tax consultant.
| Duration | 4.5-5 years |
| Fees | INR 50,000 – INR 3,00,000 (varies by level) |
| Career Opportunities | – Auditor – Tax Consultant – Financial Planner – Forensic Accountant – Corporate Consultant |
| Salary Range | INR 4-11 lakhs per annum |
Know More:- ICAI
2. Certified Public Accountant (CPA)
The Certified Public Accountant (CPA) is a globally recognized certification for accountants. It is highly valued, especially in countries like the United States, and offers opportunities for international career growth. The CPA certification focuses on areas like accounting, auditing, taxation, and business law.
| Duration | 1-2 years |
| Fees | INR 50,000 – INR 2,00,000 |
| Career Opportunities | – Auditor – Tax Consultant – Financial Analyst – Tax Director – Accounting Manager |
| Salary Range | INR 7-10 lakhs per annum |
3. Certified Management Accountant (CMA)
The Certified Management Accountant (CMA) certification is for those who want to work in management accounting and financial management. It focuses on areas like budgeting, financial analysis, decision-making, and ethics. CMA professionals are often found in roles like financial analysts, cost accountants, or Chief Financial Officers (CFOs).
This certification is recognized worldwide and is ideal for anyone who wants to take on management roles in finance and accounting.
| Duration | 1-2 years |
| Fees | INR 1,00,000 – INR 2,00,000 |
| Career Opportunities | – Cost Accountant – Financial Analyst – Corporate Finance Manager – Budget Analyst – Internal Auditor |
| Salary Range | INR 8-18 lakhs per annum |
4. Financial Risk Manager (FRM)
The Financial Risk Manager (FRM) certification is perfect for those who want to specialize in risk management within finance. It focuses on identifying, analyzing, and managing risks related to finance, such as market risk, credit risk, and operational risk. This certification is highly valued by employers in sectors like banking, investment, and insurance.
| Duration | 1-2 years |
| Fees | INR 50,000 – INR 2,00,000 |
| Career Opportunities | – Risk Analyst – Credit Risk Manager – Investment Risk Manager – Risk Consultant – Financial Analyst |
| Salary Range | INR 8-15 lakhs per annum |
5. Certified Internal Auditor (CIA)
The Certified Internal Auditor (CIA) certification is for those who want to work in internal auditing. It focuses on helping organizations manage risks, ensure proper financial controls, and follow legal rules. Companies value this certification because it ensures that their financial and operational processes are safe and compliant.
| Duration | 6 months -1 year |
| Fees | INR 1,00,000 – INR 2,00,000 |
| Career Opportunities | – Internal Auditor – Risk Manager – Compliance Officer – Audit Consultant – Control Analyst |
| Salary Range | INR 6-16 lakhs per annum |
6. Chartered Global Management Accountant (CGMA)
The Chartered Global Management Accountant (CGMA) certification is designed for professionals who want to specialize in both management accounting and business strategy.
In India, CGMA is highly respected and can lead to roles like Chief Financial Officer (CFO), financial manager, or business strategist. It’s ideal for those looking to enhance their finance skills while gaining expertise in business management.
| Duration | 8 months -2 years |
| Fees | INR 1,00,000 – INR 3,00,000 |
| Career Opportunities | – Financial Analyst – Management Consultant – Budget Analyst – Financial Planner – Risk Consultant |
| Salary Range | INR 9-20 lakhs per annum |
7. Enrolled Agent (EA)
The Enrolled Agent (EA) certification is ideal for individuals who want to specialize in tax preparation and representation. EAs are authorized by the Indian tax authorities to represent taxpayers before the tax department. This certification focuses on areas like tax planning, filing tax returns, and handling tax disputes.
| Duration | 6 months -2 years |
| Fees | INR 50,000 – INR 2,50,000 |
| Career Opportunities | – Tax Preparer – Tax Consultant – Tax Advisor – Enrolled Agent – Tax Director |
| Salary Range | INR 6-12 lakhs per annum |
8. Chartered Financial Analyst (CFA)
The Chartered Financial Analyst (CFA) certification is one of the top qualifications in finance. It teaches you how to analyze investments, manage portfolios, and understand financial markets. This certification is perfect for those who want to work in investment banking, asset management, or wealth management.
In India, this certification is highly respected and can lead to jobs like investment analyst, portfolio manager, or financial consultant.
| Duration | 2-3 years |
| Fees | INR 20,000 – INR 3,00,000 |
| Career Opportunities | – Investment Banker – Portfolio Manager – Financial Analyst – Risk Manager – Equity Analyst |
| Salary Range | INR 12-20 lakhs per annum |
9. Chartered Wealth Manager (CWA)
The Chartered Wealth Manager (CWA) certification is ideal for individuals looking to manage and grow the wealth of high-net-worth clients. It focuses on financial planning, investment strategies, and wealth management techniques. This certification is especially useful for those who want to work in wealth management firms, private banking, or investment advisory services.
In India, CWA is highly regarded and opens opportunities for careers as wealth managers or financial advisors, helping clients grow and protect their wealth.
| Duration | 3 months-2 years |
| Fees | INR 80,000 – INR 2,00,000 |
| Career Opportunities | – Wealth Manager – Investment Advisor – Financial Planner – Private Banker – Wealth Consultant |
| Salary Range | INR 6-20 lakhs per annum |
10. Association of Chartered Certified Accountants (ACCA)
The Association of Chartered Certified Accountants (ACCA) certification is one of the most recognized global qualifications for accountants. This certification covers various areas like financial accounting, management accounting, auditing, taxation, and law. It’s a great choice for those who want to pursue a career in accounting, auditing, or financial management.
In India, the ACCA qualification is highly valued by companies looking for skilled accountants and financial professionals, offering opportunities in both national and international firms.
| Duration | 1-5 years |
| Fees | INR 1,00,000 – INR 3,50,000 |
| Career Opportunities | – Accountant – Tax Consultant – Auditor – Financial Analyst – Corporate Treasurer |
| Salary Range | INR 8-18 lakhs per annum |
11. Taxation Certification
A Taxation Certification is for those who want to specialize in understanding and managing taxes. It covers areas like personal tax, corporate tax, tax planning, and how to stay compliant with tax laws. This certification is perfect for people interested in working as tax consultants, advisors, or in the tax department of a company.
In India, professionals with this certification are highly sought after, as almost every business needs help with taxes. It can lead to roles like tax advisor, tax consultant, or tax manager.
| Duration | 1-2 years |
| Fees | INR 40,000 – INR 2,00,000 |
| Career Opportunities | – Tax Advisor – Tax Consultant – Tax Preparer – Tax Analyst – Corporate Tax Officer |
| Salary Range | INR 5-12 lakhs per annum |
12. Certified Fraud Examiner (CFE)
The Certified Fraud Examiner (CFE) certification is for people who want to specialize in detecting and preventing fraud. It teaches you how to identify fraudulent activities, investigate financial crimes, and prevent fraud in organizations. This certification is great for those interested in roles like forensic accountant, fraud investigator, or auditor.
In India, companies and banks are always looking for experts who can help stop fraud, making this certification valuable for job opportunities.
| Duration | 1-2 years |
| Fees | INR 60,000 – INR 2,00,000 |
| Career Opportunities | – Fraud Examiner – Forensic Accountant – Compliance Officer – Internal Auditor – Risk Management Consultant |
| Salary Range | INR 6-15 lakhs per annum |
How to Choose The Right Certification After M.com Degree?
- Know Your Interests: Think about what you enjoy most. If you like working with taxes or laws, certifications like Taxation Certification or CA could be a good choice. If you’re interested in finance and investments, then CFA or FRM might be a better fit.
- Consider Job Market Demand: Some certifications, like CFA or CPA, are recognized all over the world and open doors to more job opportunities. Check which certifications are in demand in India and other countries.
- Work-Life Balance: Some certifications require a lot of time and study, while others offer more flexible learning schedules. Consider your current work situation and choose a certification that fits your time availability.
- Consider Costs: Different certifications have different fees for exams and study materials. Make sure to compare the costs before choosing one, so it fits your budget.
- Future Career Opportunities: Some certifications lead to more career options than others. For example, CFA is great for financial analysts, while Taxation Certification can help you become a tax consultant.
Takeout
Getting a certification after your M.Com degree can give your career in finance and accounting a big boost. It helps you learn specialized skills, improves your chances of getting better job offers, and makes you stand out in a competitive job market. There are many options like CA, CPA, CFA, and CMA, so you can choose the one that matches your career goals.
Before choosing, think about what you enjoy, the career you want, and how much time and money you’re willing to invest.
FAQ(s)
Q1: Which certification is the best after M.Com for a career in accounting?
Ans: The best certification depends on your career goals. For accounting, Chartered Accountant (CA) or Certified Public Accountant (CPA) are great options. Both certifications are highly respected in the field and open doors to many job opportunities.
Q2: Can I work while studying for these certifications?
Ans: Yes, many certifications offer flexible study schedules. For example, certifications like CFA or ACCA allow you to study at your own pace while working, making it easier to balance both.
Q3: How long does it take to complete a certification after an M.Com degree?
Ans: The duration depends on the certification. Some certifications like CFA or CPA can take around 2-3 years, while others like CMA might take a year or more to complete.
Q4: Are these certifications recognized internationally?
Ans: Yes, certifications like CFA, CPA, ACCA, and CMA are recognized globally and can help you find opportunities in other countries as well.
Q5: Are there any online options for these certifications?
Ans: Yes, many institutions offer online courses for certifications like CFA, ACCA, and CMA, which makes it easier to study from anywhere.
