In the financial world, training and certifications are essential to stand out and advance in your professional career. Financial certifications are a testament that you possess specialized skills and knowledge in different areas. That is why, if you are looking to acquire a financial certification, it is important that you know the options available and which are the most relevant in the current labor market.
In this article, you will learn about some of the main financial certifications, their characteristics and the salaries paid to those who hold them. If you want to stand out in the financial world, read on and discover the certifications that can boost your career.
Find in this list some of the financial and related certifications that can be a great boost in your professional career.
The financial industry is complex, ever-changing, and highly technical, so earning a certification is one way to demonstrate that you have the specialized knowledge and skills necessary to excel in your career. Acquiring a certification demonstrates a detailed understanding of a particular topic, which can lead to better job opportunities and increased recognition in the financial field.
There are a number of financial certification options in today's job market, so it's essential to know which ones are most relevant and appropriate for your career. Certifications can vary in terms of requirements, cost, and the time required to obtain them. It is important to choose the certification that best suits your career goals and needs.
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Top 15 Recommended Financial Certifications in 2023
The Certified Financial Models and Valuation Analyst (FMVA)® certification It is granted by the Corporate Finance Institute. This online certificate program prepares financial analysts with advanced skills in valuation, financial model analysis, and Excel. This certification is especially useful for those looking to improve their skills in investment analysis, corporate finance, investment banking, and asset management.
The FMVA® is an advanced certification that can take between 6 and 12 months to complete. The program consists of a robust and comprehensive package of 39 online courses, ranging from the introduction to business valuation to creating complex financial models. The courses are taught by expert instructors and focus on real life case studies. Students also have access to a wide variety of resources, such as financial model templates and online tutorials.
The average salary for a Certified Financial Models and Valuation Analyst (FMVA)® varies by industry and location. According to Glassdoor, the average salary for a junior-level financial analyst in the United States is about $65,000 a year, while advanced-level financial analysts can earn more than $120,000 a year.. However, it is important to note that the salary also depends on previous experience, educational background and other relevant skills.
Overall, the Certified Financial Models and Valuation Analyst (FMVA)® certification is an excellent option for those looking to improve their skills in finance and financial analysis. With a strong background in financial modeling and valuation, financial analysts can open up a wide range of career opportunities in the finance and investment sectors.
The Commercial Banking and Credit Analyst (CBCA)® certification It is awarded by the Corporate Finance Institute (CFI) and focuses on developing skills in credit risk analysis and loan decision making in the banking sector. This certification demonstrates in-depth knowledge of business credit and finance best practices and is internationally recognized.
The field of action for a Commercial Banking and Credit Analyst (CBCA)® is wide, since they can work in banks, financing companies, credit unions, among others. Its main functions include evaluating the credit risk of loan applicants, determining the client's ability to pay, and ensuring that financial sector policies and regulations are complied with.
The study time to obtain this certification varies according to the experience and previous knowledge of the candidate, but a dedication of 100 hours of study is recommended. The average salary for a Commercial Banking and Credit Analyst (CBCA)® varies by geographic location and the professional's experience, but According to the Glassdoor website, the average salary in the United States is between $60,000 and $80,000 per year..
The Capital Markets and Securities Analyst (CMSA)® certification from the Corporate Finance Institute is a comprehensive training program that provides students with the necessary skills to be an expert in financial analysis and investments. Students learn to evaluate companies, identify investment opportunities, and understand the equity and capital markets. The CMSA certification is recognized worldwide and is one of the most valued by employers.
The field of action of a Capital Markets and Securities Analyst is very broad, since these professionals can work in any type of company that requires financial services, such as investment banks, brokerage firms, investment funds, among others. They may also work in financial departments of private or public companies, or in non-profit organizations. The CMSA certification is a great option for those who want to advance their career in finance.
The study time to obtain the CMSA certification is approximately 200 hours, which can be completed in a few months. The average salary for a Securities and Capital Markets Analyst depends on experience and geographic location, but can range from $50.000 to $100.000 annually. For more information on salaries, those interested can visit the PayScale.com website.
In conclusion, the Corporate Finance Institute's Capital Markets and Securities Analyst (CMSA)® certification is an excellent choice for those who want to become experts in financial analysis and capital and securities markets. With CMSA certification, graduates have a wide range of career opportunities and can earn a competitive average salary. For more information on the CMSA certification program, visit the Corporate Finance Institute website.
The Corporate Finance Institute's Business Intelligence and Data Analyst (BIDA)® Certification is a training program designed for those who want to improve their skills in data analysis and business decision-making. This financial certification is intended for financial analysts, finance managers, data analysts, and other professionals working in the field of business.
BIDA certification students learn to use data analysis tools and modeling techniques to make data-driven business decisions. They also learn to work with large data sets and to communicate their results in clear and effective ways.
Study time for the BIDA certification varies from person to person, but students are expected to put in at least 100 hours to complete the program. The certification exam consists of 100 multiple-choice questions and lasts three hours.
The average salary for a Business Intelligence and Data Analyst is around $75,000 to $85,000 per year in the United States, according to the Payscale website. However, salary can vary based on experience, location, and industry.
The Financial Planning and Wealth Management (FPWM) Analyst™ financial certification from the Corporate Finance Institute focuses on teaching skills necessary to manage wealth and plan financial strategies for individuals and businesses. Students will learn how to understand and create a personalized financial plan, how to manage investments, and how to analyze and evaluate financial risks.
Graduates of the Corporate Finance Institute's FPWM™ certification will have the ability to work in any industry and with any type of client to help them achieve their financial goals. The field of action for FPWM™ professionals is wide and varied, including jobs in banking, financial advisory firms, accounting firms and corporate finance.
The study time to complete the FPWM™ certification from the Corporate Finance Institute is approximately 6 months, and it is done completely online for the student's convenience. According to Glassdoor data, the average salary for a financial planning analyst is $56,000 per year in the United States, with opportunities for growth as more skills and experience are gained.
6. Chartered Financial Analyst (CFA)®
The Chartered Financial Analyst (CFA)® degree is a highly valued certification in the financial field. It consists of three rigorous exam levels that cover a wide range of financial topics, including investment analysis, portfolio management, ethics, and professional standards. Chartered financial analysts often work at investment banks, brokerage firms, investment management firms, and financial firms.
Study time for the CFA certification varies, but it is estimated that about 300 hours of study are needed for each level of the exam. Many candidates take several years to complete all three levels.
The average salary for a Chartered Financial Analyst can vary based on geographic location and experience, but According to the Glassdoor website, in the United States the average salary is around $85,000 to $100,000 annually.
In summary, the CFA certification is highly valued in the financial field and requires a rigorous process of study and examination. Chartered financial analysts can work in a variety of financial organizations and earn a competitive average salary.
7. Certified Public Accountant (CPA)®
The Certified Public Accountant (CPA) certification is one of the most recognized in the financial world. This certification is awarded to those professionals who have demonstrated a high level of knowledge and skills in accounting, finance and auditing through a rigorous examination.
CPAs may work in a variety of fields, including public accounting, internal and external auditing, financial consulting, tax, and financial management. They may also work in companies, government organizations or in independent practices.
The study time to obtain the certification varies according to each country, but in general a minimum of 150 university credits is required, which is usually equivalent to five years of study.
The average CPA salary varies by region and field of work, but is generally very attractive. According to PayScale, in the United States, the average salary for a CPA is $68,000 a year, but can exceed $100,000 in some cases.
In summary, the Certified Public Accountant certification is a very interesting option for those seeking a career in the financial world. Their rigorous examination and high level of knowledge and skills ensure a high level of recognition and high demand in the job market.
8. Certified Business Management Accountant (CMA)®
The Certified Business Management Accountant (CMA)® is a financial certification that accredits the knowledge and skills necessary to carry out the financial management and control of a company. This certification focuses on decision making based on financial data, budget planning and control, risk assessment and asset management.
The field of action for a professional with the CMA certification is very broad, since they can work in different areas of the company, such as finance, accounting, management control and strategic planning. In addition, this certification is internationally recognized, which opens job opportunities in different countries.
Study time to earn the CMA certification varies, but is estimated to require around 2 years of prior work experience and 300-500 study hours. Regarding the average salary, According to the Payscale website, a Certified Business Management Accountant can earn on average around $80,000 USD per year.
9. Certified Financial Planner (CFP)®
The Certified Financial Planner (CFP)® financial certification is one of the most recognized in the financial world. The certificate is awarded by the Financial Standards Board (FPSB) and demonstrates that the holder has acquired a comprehensive knowledge of personal and professional financial management. CFP® holders are able to offer financial advice in areas such as retirement planning, investing, risk management and tax planning.
The field of action of a Certified Financial Planner (CFP)® is very broad and can include working as a financial consultant in companies, banks, investment firms, stock brokers and insurance. Study time for certification varies, but generally takes about one to two years of study and experience in the financial industry.
The average salary for a Certified Financial Planner (CFP)® varies by experience and geographic location, but according to the Glassdoor website, the average salary in the United States is approximately $90,000 per year. In addition, CFP® holders also have the opportunity to earn additional income through commissions on sales and fees for personalized advice.
10. Financial Risk Manager (FRM)®
The Financial Risk Manager (FRM)® certification is awarded by the Global Association of Financial Risk Professionals and highlights those professionals who possess the necessary knowledge to identify and manage financial risks in various areas of the industry. Its field of action covers from banking and corporate finance, to capital markets and insurance.
Certification requires passing two exams and having some work experience in financial risk management. Study time varies depending on the candidate's level of prior knowledge, but it is estimated that at least 300 hours of preparation are required to successfully complete the program.
According to the Glassdoor website, the average salary for a Financial Risk Manager in the United States is around $100,000 per year, although this amount can vary significantly depending on the sector and geographic location. In general, the FRM certification is highly valued by companies and can significantly increase employment opportunities and career growth potential.
Corporate Finance Institute® (CFI) is a leading global provider of online financial modeling and valuation courses.https://t.co/9M6IyVIqVO— ClassroomPro (@AulaProCo) March 15, 2023
11. Accredited Asset Management Specialist (AAMS)®
The Accredited Asset Management Specialist (AAMS)® certification is awarded by the National Association of Investment Advisers (NAIFA) in the United States. This certification focuses on developing skills in portfolio management and financial planning for individuals and businesses.
The field of practice of an Accredited Asset Management Specialist (AAMS)® is wide, since they can work in banks, brokerage firms, insurance companies, financial advisory firms and in their own private practice. Certification requires at least one year of financial planning experience and a three-hour exam.
The average salary for an Accredited Asset Management Specialist (AAMS)® is around $70,000 to $100,000 per year in the United States. However, the salary can vary depending on the location, the type of employer and the experience of the specialist.
12. Certified Investment Management Analyst (CIMA)®
The Certified Investment Management Analyst (CIMA)® is a financial certification awarded by the Investment Management Consultants Association (IMCA). Professionals who earn this certification demonstrate a high level of investment management knowledge and skills, including financial planning, portfolio management, and investment analysis.
The field of action for CIMA analysts is wide, since they can work as financial advisors, portfolio managers, investment analysts or consultants in investment management companies, banks and financial advisory firms. Study time for certification varies, but on average it takes around 12-18 months and requires an exam and relevant work experience.
The average salary for a CIMA analyst varies based on experience and title, but is estimated to be anywhere from $75,000 to $150,000 a year. This information can be found on the official IMCA website (https://www.imca.org/pages/earnings-potential). In general, the CIMA certification is highly valued in the financial industry and can help professionals advance their careers and increase their earning potential.
13. Certified Treasury Professional (CTP)®
La Certified Treasury Professional (CTP)® Financial Certification is a designation awarded by the Association of Treasury Professionals (AFP) to those individuals who demonstrate a high level of knowledge and skills in corporate finance and treasury management. This certification is aimed at professionals working in treasury management, corporate finance, banking and financial services.
Study time for the CTP certification is around six to nine months, and requirements include a minimum of two years of work experience in corporate finance or treasury, as well as a bachelor's degree in business or a related field. The average salary for a certified treasury professional varies by industry and geographic location, but According to the Glassdoor website, the average salary in the United States is around $110,000 per year.
14. Certified Appraisal Analyst (CVA)®
The Certified Appraisal Analyst (CVA)® is a financial certification that focuses on the valuation of assets and companies. Certified professionals in this area are trained to perform valuation analyzes independently and objectively, using industry-standardized techniques and methodologies.
The field of action for a Certified Appraisal Analyst (CVA)® is wide, since their knowledge is useful in many areas of the financial industry, including banking, investment and accounting. Professionals may work for consulting firms or in internal company valuation departments.
Study time for certification varies, but generally requires a minimum of valuation work experience and completion of a National Association of Appraisal (NACVA)-approved training program. The average salary for a Certified Appraisal Analyst (CVA)® is around $80,000 per year, according to Payscale.com.
15. Chartered Alternative Investment Analyst (CAIA)®
The CAIA (Chartered Alternative Investment Analyst) certification is a degree intended for those who are interested in acquiring specific knowledge and skills in the field of alternative investments. The CAIA is designed for professionals working in the financial industry who want to enhance their understanding of non-traditional investment strategies, such as hedge funds, private equity, real estate, and others. The certification demonstrates that the holder has acquired a set of practical and theoretical skills in the field of alternative investments.
The study time needed to obtain the CAIA certification varies according to the level you wish to achieve, since there are two levels of certification. Level I can be completed in about six months, while Level II requires a little more time to study and pass the exam. The average salary for a Chartered Alternative Investment Analyst (CAIA) varies depending on the company you work for, your location, and your level of experience.
According to the Payscale website, the average salary for a Chartered Alternative Investment Analyst (CAIA) in the United States is approximately $100,000 per year. However, this salary can vary significantly depending on the factors mentioned above. The CAIA certification is a valued degree in the financial industry, and can be a good option for those looking to enhance their career in the field of alternative investments.