• Fri. Dec 8th, 2023

80% of finance and accounting students prefer professional certifications: Survey

Zell Education, the premier Ed-tech platform for finance and accounting in India, has unveiled the outcomes of its recent survey encompassing students in the finance and accounting realm across the nation. The findings highlight that a substantial 84 percent of students have made proactive strides in acquiring diverse industry credentials, such as CFA, CPA, CMA, and ACCA, among others. These efforts underline their dedication to fortifying their potential for accessing favourable employment prospects.

Out of 1,000 respondents, the difference between male and female students in the Finance and Accounting field is marginal (52 percent V/S 46 percent), signalling a positive change amongst female students competing with their male counterparts steadily. Though younger students ranging from 18-24 years are more inclined to pursue certification compared to professionals of 25-34 years at 15 percent). Only 2.8 percent) of professionals in the range of 35-44 years seek any additional credentials.

All Tier I metro cities have the highest percentage of respondents, 63 percent investing in certificates/s, followed by Tier II cities at 8 percent and 4.6 percent from Tier III cities. Additionally, an impressive 74 percent of respondents are currently pursuing certification.

75 percent of respondents have cited better career prospects as the leading factor in pursuing education in the Finance and Accounting field, closely followed by 65 percent of respondents reporting personal interest. 37 percent of respondents have quoted educational exposure as their driving factor while only 16 percent have taken this decision based on family/friend influence.

FINANCIAL ANALYST TAKES THE LEAD AS THE ULTIMATE CAREER CHOICE

Financial Analyst emerges at the top as a career of choice, followed by Investment Banking, Accounting, Auditing, and Financial Planning roles at 37 percent, 24 percent, 17 percent, 14 percent and 6 percent, respectively. 46 percent of respondents also firmly believe that earning certification will lead to high-earning opportunities, while 35 percent aim for career advancement. Job stability, challenging work and Work-Life balance at 7 percent, 6 percent and 5 percent are some other reasons to pursue a career in this field.

Anant Bengani, the Co-Founder and director of Zell education said,“ The survey reveals a powerful shift in finance education. With 84 percent of Finance and Accounting students embracing professional certifications like CFA and CPA, the landscape is changing. Gender parity, urban dominance, and a focus on career prospects underline this trend. As aspirations align, certifications are pivotal for skill elevation and enhanced employability in a competitive job market.”

Interestingly, most respondents are students and professionals; 50 percent still consider themselves beginners, and only 4 percent at advanced levels. In tandem with the in-demand roles, 36 per cent of respondents are interested in Financial Analysis, 24 percent in Investment Banking, 14 percent in Auditing, 11 percent in Financial Reporting, 8 percent in Taxation and 5 percent in Risk Management.

In the private sector, Entrepreneurship and Social service (NGOs) are the leading choices for employment at 73 percent, 16 percent and 8 percent, respectively.

Published On:

Aug 17, 2023

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