Your university degree is not enough! There is a collective effort in Bangladeshi families to ensure that their children get into one of the more reputed universities in the country. Be it a social gathering or right after your school-leaving and college-leaving examinations, everyone around you will make a point to remind you that enrolling into a reputed university and graduating out of that university with honours is a must for every successful individual.
While being at a renowned university definitely has its merits and future benefits, especially in case of universities with famous alumnus in the society, the degree is simply not the end of the road. Rather, it is the start to greater things awaiting you in the coming days.
When complemented with an excellent university backing, a globally recognised certification like the chartered financial analyst programme adds a lot of value to the evaluation of the candidates. People reviewing job applications perceive these certifications to be an essential estimate of one’s abilities to achieve success in the future, and hence place a candidate in high prospects whenever they see this added qualification.
The Chartered Financial Analyst (CFA) programme is the strongest available global certification for young graduates and professionals considering a career in finance, especially in stock brokerage and market analysis. The curriculum is recognised worldwide, be it in Wall Street or in the Dhaka Stock Exchange, and being a CFA charter-holder means that your abilities in finance can be standardised in comparison with the international standards.
A few weeks back I had an opportunity to speak to Asif Khan, the deputy head of research at BRAC EPL Stock Brokerage Ltd. As a CFA charter-holder in a highly sought-after stock brokerage firm, Asif emphasises on the exact same ideas: “From the students’ perspective, I think graduates now realise that in the 21st century you really need to differentiate. You have to stand apart in whatever way possible. This is why people nowadays are automatically moving towards professional degrees. You will probably see more CFAs in the coming few days; more CIMAs, ACCAs as well.”
In the past few years, there has also been a huge amount of progress in the financial market and the financial products industry of Bangladesh. This growth has been fuelled by Bangladesh’s growing sense of globalisation in terms of trade and government regulation, and also the expansion of the capital markets. CFAs are at the forefront in this new era, using their specialised skills and techniques to analyse stocks and financial performances of public limited companies.
At BRAC EPL for instance, Asif heads a research team of seven who look after stocks, analyse them and present them to the clients. The group is composed mostly of CFAs and part-CFAs. They work as a team to continuously analyse the stock market and predict the future of stocks. With the technical skills of finance the team provides concrete information about stocks to local and foreign clients.
The knowledge gained from appearing for the CFA exams is thus highly valuable in this profession. The curriculum for the three-tiered exams is designed in a way such that candidates can get an in-depth insight into the world of finance.
One of the most highly faced dilemmas by finance majors nowadays is the choice between MBA and the CFA programme. The merits and demerits of both the programmes are endless. But we find that the two paths are not similar in any manner.
The CFA programme is highly technical, providing you with the tools and skills necessary to succeed in the world of finance; MBA on the other hand is more comprehensive and involves all the different aspects of finance. The latter provides an enormous opportunity to explore the different topics of business administration in an environment that fosters innovation and networking, while the former is a standardised certification that provides an accurate measure of one’s knowledge.
But when compared with the aspects of branding, the CFA programme is always the clear winner unless you are at a well known MBA programme. The charter-holder is recognised globally, and today’s Bangladeshi businesses are also becoming aware of this fact. This is why financial institutions now have a preference for CFAs.
Businesses today are becoming more technical than ever before. Be it finance, marketing or operations management, your core knowledge in the subject matter does hold a great deal of importance to your prospective employers. Besides, the intense competition of today’s corporate world means that only tried and tested professionals with acute technical skills will be able to survive. With a globally recognised degree like the CFA programme, you too can be a leading professional in the field of Finance.
