With a business degree under your belt, you have a multitude of paths to choose from to forge a prosperous career. It’s crucial to explore all the diverse options available to you and find the perfect fit for your skills and passions.
If you’re uncertain about what to do after obtaining your business degree – there are numerous fulfilling options for a career in accounting and finance to consider! You can establish a stable and prosperous future by pursuing a finance, accounting, or consulting career.
If you’re eager to start building a successful career and are wondering “What can I do after my business degree?”, there’s a world of opportunities out there for you to explore!
Let’s first understand the significance of having a business degree.
Why Have a Business Degree?
Having a business degree can provide a strong foundation for a career in finance and accounting, as it covers topics such as financial analysis, investment management, and accounting principles. With a degree in business, individuals can:
- Develop Vital Communication Skills: Business students must excel in communication skills to write compelling reports, deliver winning pitches, and craft effective emails. While studying, you’ll work with diverse groups and learn how to analyze cases, diplomatically handle conflicting opinions, and express your ideas persuasively.
- Interpret Accounting and Budgeting: Understanding basic accounting is critical to successful financial management. Business studies will equip you with the knowledge to driving business performance forward and avoid common financial pitfalls.
- Unlock Entrepreneurial Spirit: Many students enroll in business schools to learn how to launch their dream businesses. Studying at the right business school can provide you with the skills and resources to become a successful entrepreneur.
- Gain Investment & Finance knowledge: A business degree provides a solid foundation in economics, finance, and markets. This knowledge will help you make informed decisions when investing in stocks, bonds, or real estate.
- Learn Project Management: Effective project management skills are essential in every industry. Through live business challenges, you’ll learn how to prioritize resources, solve problems, and meet deadlines using cost-effective methods and project management tools.
Best Finance Certifications to Earn After Obtaining a Business Degree
After obtaining a business degree, there are several finance and accounting certifications that can boost your career. The following are some highly-regarded certifications in the field.
👉Financial Risk Manager (FRM)
The Financial Risk Manager (FRM) designation represents the pinnacle of educational achievement in the field of risk management and serves as a pathway to reach greater heights in one’s professional risk career. The FRM certification exam is open to all interested parties, providing an opportunity to demonstrate mastery of the subject matter. To earn the FRM certification, candidates must successfully pass the challenging FRM Exam Part I and Part II and demonstrate two years of relevant work experience. It is important to note that the FRM Exam Part I must be taken prior to the Part II exam.
👉Chartered Investment and Management Accountant (CIMA®)
The CIMA charter is an esteemed credential that individuals can obtain after completing the CIMA exam(s) and fulfilling the candidacy requirements. The exam(s) evaluate the individual’s comprehension of concepts, principles, techniques, and best practices outlined in the CIMA® body of knowledge concerning investment and management accounting.
Upon successfully meeting these requirements, individuals are granted the CIMA® qualification, credential, and designation, signifying their advanced knowledge and expertise in this specialized area.
Candidates who hold a Bachelor’s degree or are in their final year of study at a nationally or globally recognized institution or university at the time of application, are eligible for consideration for CIMA® Level 1 under the 2-Level CIMA® Standard track. Upon passing the qualifying 4-hour online exams for both CIMA Levels, candidates will obtain their CIMA® credential and designation. Additionally, MBA and MS students in accounting and finance from CIMA® Recognized Business Schools may apply for the CIMA Standard track at a special fee.
👉Association of Chartered Certified Accountants (ACCA)
ACCA is a globally recognized professional accounting qualification designed to equip individuals with the skills and knowledge necessary to succeed in the accounting and finance fields. The program covers a wide range of topics, including financial reporting, taxation, audit, and business strategy. It also emphasizes the development of professional skills, such as communication, ethics, and leadership. ACCA certification is highly respected by employers worldwide and can lead to a wide range of career opportunities in the accounting and finance fields.
👉Certified Financial Analyst (CFA)
A CFA charter is a prestigious credential awarded to individuals who have successfully completed the CFA Program and meet the necessary work experience requirements. The
program is a rigorous three-part examination that evaluates an individual’s knowledge of investment tools, asset valuation, portfolio management, and wealth planning.
Generally, those with backgrounds in finance, accounting, economics, or business are the ones who undertake this Program. After completing the program, submitting an application, and being accepted by the CFA Institute, successful candidates are granted the right to use the designation.
CFA charterholders possess advanced skills and knowledge in the field of investment management, risk management, asset management, and other related fields. These qualifications make them eligible for senior and executive-level positions in their respective industries.
How Earning Finance and Accounting Certifications after Your Business Degree Can Impact Your Career
Earning a finance and accounting certification can have several benefits for your career and professional development.
- Enhanced Knowledge and Skills: Finance and accounting certifications are designed to provide you with a comprehensive understanding of the field, including the latest industry trends and best practices. Earning a finance certification can equip you with valuable skills that you can use to solve complex problems and make strategic decisions in your job.
- Career Advancement: The enhanced skills gained by you after the course can make you stand out from other professionals in the field, showing that you have achieved a high level of competence and dedication to your profession. This can increase your chances of being considered for job promotions, raises, and new career opportunities.
- Increased Earning Potential: According to the Robert Half 2022 Salary Guide, professionals with finance and accounting certifications earn on average 5% to 15% more than those without certifications. Earning finance and accounting certifications can lead to higher salaries and better compensation packages. Employers often value certified professionals and are willing to pay them more for their avant-garde skills and knowledge.
- Networking Opportunities: Financial courses can also provide you with opportunities to connect with other certified professionals in the field. This can lead to valuable networking opportunities, such as attending conferences, joining professional associations, and engaging in industry events, which can help you stay up-to-date with the latest industry developments and trends.
Conclusion…
Obtaining a business degree provides a strong foundation for a career in finance and accounting. The degree helps develop vital communication skills, interpret accounting and budgeting, unlock entrepreneurial spirit, gain investment and finance knowledge, and learn project management. After obtaining a business degree, earning finance and accounting certifications such as the Financial Risk Manager (FRM), Chartered Investment and Management Accountant (CIMA), Association of Chartered Certified Accountants (ACCA), and Certified Financial Analyst (CFA) can boost your career prospects. These certifications enhance your knowledge and skills, open up career advancement opportunities, and increase your earning potential.
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