Career Path in Finance

What are the different career options in finance? How do you become a financial or management accountant? What is the best path to take? Dasun Mendis, a Finance Professional and Lecturer for Finance Qualifications, explains all of these major concerns and shares some career advice in the Finance field!

Career Pathways available in Finance:

 

When talking about career paths in finance, there are numerous routes available in the field of Finance. Taken one by one;

 

  • One option is you can work in the corporate sector and specialize in areas such as Financial Reporting and Operational Financial Aspects of the company, eventually rising to the position of a CFO.
  • Alternatively, you can consider the Management Accounting side, and the Strategy Aspect of the organization, and progress towards heading the Corporate Planning or Strategy function in the organization.
  • Another option is to get into the financial sector and become a successful banker, treasurer, investment advisor, or investment banker.
  • A completely different path you can take is a career in Client Advisory Services, where you can either be a Business Consultant or an Economic Analyst.
  • On the other hand, you could also join an accounting firm that offers client advisory services such as Accounting, Taxation, and Auditing, and work your way up to a position of Partner.

 

How to get into these Career Paths?

 

Now, looking at these various career paths in finance, you might be wondering how to get there! “Well, to get on to these career paths, it is important that you get the right professional qualification”, shares Dasun Mendis. 

The two globally-recognized, highly-sought-after professional qualifications available in the field of Finance are;

1. ACCA

2. CIMA

 

These qualifications will provide young people with the necessary information, skills, and technological know-how to pursue a successful career in finance.

 

ACCA

 

ACCA focuses on technical accounting expertise, with specializations in Financial Reporting, Auditing and Taxation. This is a fantastic career for someone who wants to work in a business organization's Financial Department, where you can start as an Accounts Assistant, Accounts Executive, or Accountant and work your way up to the position of CFO, who oversees the entire finance department, shares Dasun.

ACCA graduates can also specialize in client advisory services by joining an accounting firm that offers advisory services in financial reporting, auditing, and tax advice.

This qualification's advantage is that it has many different pathways. One is that,by submitting a research project after completing the Skills Level of this qualification (its 2nd stage), you can earn a B.Sc. Honors Degree from Oxford Brookes University in the United Kingdom.

In addition to that, after completing the qualification, there is a pathway to obtaining an M.Sc. in Professional Accounting from the University of London.

CIMA
 

The CIMA program integrates business achievements with Financial, Cost, and Performance Management. Where a great emphasis is placed on the development of an organization's Financial and Business Strategy. You can start your career as a Management Accountant or a Business Analyst, and progress towards leading an organization's Corporate Planning or Strategy Development unit.

CIMA graduates can also pursue a career in Business Consultancy. "The good news is that everyone who completes the CIMA certification and obtains membership is automatically eligible for the CGMA- CHARTERED GLOBAL MANAGEMENT ACCOUNTANT designation, which is the world's most widely used management accounting designation!", concludes Dasun Mendis.