Introduction to Career After BFM/BAF
The following article provides an outline for Career After BFM/BAF. Bachelor of Commerce in Financial Markets or BAF is a 3-year undergraduate program that is spread across six semesters. BAF focuses on providing domain knowledge pertaining to Financial Markets. On the other hand, Bachelor of Commerce in Accounting and Finance or BAF is a 3-year undergraduate course in Accounting & Finance, and it is also divided into six semesters. The objective of BFM and BAF is to promote self-employment by developing suitable skills among the professionals so that they can excel in the fields of Accounting & Finance, and Financial markets.
However, a bachelor’s degree isn’t enough in today’s world, where most candidates intend to secure an extraordinary career. Hence, one needs to pursue advanced certifications and courses to achieve the desired career outcome. Now the next important question is – which is the right course? Thus, this article will discuss various career options available after BFM and BAF that can be taken up. We will also provide the associated details about the courses, such as fees, eligibility, governing bodies, and the average range of salary. It is expected that you would be able to choose the right course easily by the end of the article.
Best Career Options after BFM/BAF
Let us look at some of the best career options available after completing BFM or BAF that can be considered for a fruitful career.
- Chartered Accountant (CA): Almost every candidate pursuing BFM or BAF plans to pursue CA at some point during their final year. Consequently, it is very difficult to clear the CA exams since so many candidates are competing, and the outcome is equally rewarding for the successful candidates. The exams are administered by the Institute of Chartered Accountants of India (ICAI). Although there are parts – CPT, IPCC, and Final CA, the graduate candidates are exempted from the CPT exam. The IPCC exam is divided into two groups, and after clearing one of the groups, the candidates need to register themselves for articles under an experienced CA for a period of 2.5 years. After completing articleship as well as clearing both groups of IPCC, the candidates can write the Final CA exam, which also has two groups.
- Financial Risk Manager (FRM): FRM certification is also another good career option after completion of BFM or BAF. It is a globally recognized certification program for banking and finance professionals. The FRM exams are administered by the Global Association of Risk Professionals (GARP), USA, and the certification program is divided into Level 1 and Level 2. The exams are conducted during the months of May and November every year. To become a qualified FRM, one needs to clear both the levels along with 2 years of professional experience in the related field. FRM can open doors to many career opportunities in risk management, financial modeling, trading, etc.
- Chartered Financial Analyst (CFA): CFA charter is another global certification that is popular among students aspiring to have a successful entry into the Investment and Financial domain. It is a professional credential managed by the CFA Institute, USA, and the candidates need to clear three levels – Level 1, Level 2, and Level 3. The candidates also require professional experience of 4 years along with clearing the three levels to become a CFA charter holder. A qualified CFA can work as a financial advisor, financial strategist, research analyst, private banker, portfolio manager, etc.
- Masters of Business Administration (MBA) in Finance: MBA in Finance is another common option for candidates completing BFM or BAF. However, an important fact is that an MBA is worth only if it is from a renowned institute; otherwise, an MBA from an average institute will result in an average job. Now, getting into a reputed institute is not an easy task as one needs to crack very difficult entrance exams, such as CAT, XAT, MAT, etc., with a very high percentile. Some of the candidates write the exams multiple times to get into the Ivy League institutes, which can make it easier to land high-paying jobs. After completion of the MBA program, the candidates usually get into the financial service sector.
- Company Secretary (CS): CS is a very good career option after completing BFM or BAF. It can also be pursued as soon as after the completion of the 12th standard. The CS program is administered by the Institute of Company Secretaries of India (ICSI), and the course is divided into 3 parts – Foundation, Executive and Professional. Besides completing the three exams, the candidates also need to register themselves for an internship one year prior to clearing the last exam. After completing the CS program, the candidates acquire expertise in corporate finance and legal affairs practices.
List of Courses after BFM/BAF
Below is the different list of courses after completion of BFM/BAF:
|MBA||Graduation + Valid score in CAT, XAT, MAT, etc.||INR 10-15 lacs||Number of institutes||2 Years||INR 6-10 LPA|
|CA||Graduation + 2.5 years of professional experience||INR 1 lac||ICAI||3 Years||INR 8-22 LPA|
|CFA||Graduation or Final Year of Graduation||INR 2-3 lacs||CFA Institute||2.5 Years||INR 10-25 LPA|
|FRM||Graduation and above||INR 1-1.5 lacs||GARP||9 months||INR 10-18 LPA|
|CS||Graduation or Class 12th degree||INR 0.5 lacs||ICSI||3 Years||INR 4-10 LPA|
So, it can be seen that there are a plethora of career options available for BFM and BAF graduates. But it is important to understand that what might be good for one person might not be that effective for someone else. Hence, everyone should identify their own career interest and then evaluate the available options based on accessible information and details. Once decided, the candidates should follow that career path with full conviction, and then success is guaranteed.
This is a guide to Career After BFM/BAF. Here we also discuss the list of top 5 Careers one must do after BFM/BAF, along with a course list. You may also have a look at the following articles to learn more –