New Delhi [India], February 12: As the world economy changes quickly, professionals are increasingly looking for ways to move between countries, industries, and jobs throughout their careers. A growing number of people are pursuing international finance certificates like the CFA and CMA as a means of demonstrating competency in areas such as:
- Understanding how financial systems function outside the U.S. and across multiple regions.
- Becoming familiar with different methods of risk management used in various parts of the world.
- Learning about the regulations applicable to all functions associated with the international financial markets.
- Understanding how businesses make decisions that have an impact on their operations globally.
The CFA and CMA credentials increasingly provide graduates and working professionals with the qualifications needed to achieve global career mobility.
The Growing Importance of Global Finance Credentials
The finance sector is now fully globalised, eliminating distinctions between local and international companies. Services and investments extend across borders, following globally accepted accounting principles.
- Professionals with CFA qualifications excel in investment management, portfolio management, equity research, and financial analysis.
- CMA qualifications are valued in management accounting, financial planning, and corporate strategy.
- Both certifications are recognised worldwide, easing access to international job opportunities.
- Employers trust candidates with CFA or CMA certifications due to their adherence to global standards.
- Career mobility for holders of CFA and CMA designations has increased significantly due to these opportunities.
CFA: Opening Doors to Global Investment Careers
The CFA programme is widely recognised to have a strong emphasis on Investment Committee Work, Ethics, Portfolio Management, and Financial Markets. CFA charterholders exhibit a high level of knowledge regarding global finance and are usually employed in the following areas by institutional and individual consumers:
- Investment Banking
- Asset Management
- Equity Research
- Risk Management
- Wealth Management
- Private Equity
The CFA Programme’s global standards enable individuals to work in major financial centres like London, New York, Dubai, Singapore, and Mumbai.
Employers prefer candidates with the CFA designation for their analytical skills and understanding of global finance, highlighting their commitment to completing the CFA Requirements.
Many multinational companies seek CFA candidates for positions with global responsibilities, showcasing the CFA’s significant impact on employment mobility.
CMA: Powering Careers in Corporate Finance and Strategy
While the CFA is primarily concerned about investments, the CMA is aimed at those with an interest in corporate finance or management accounting.
Achieving a CMA certification will provide you with expertise in:
- The budgeting process
- Financial Planning
- Cost Management
- Performance Analysis
- Internal Controls
- Making Strategic Decisions
The CMA designation is highly valued, especially among individuals wanting to work for multinational companies. Globalisation means companies need professionals who can execute financial strategies and manage business performance.
CMA candidates often receive job offers in the following positions:
- Financial Analyst
- Financial Manager
- Cost Accountant
- FP&A Specialist
- Corporate Controller
CMA’s global market recognition gives CMA candidates all over the world access to new job opportunities in the U.S., the Middle East, Europe, and Asia.
The strategic emphasis of CMA lends itself to opportunities for faster career advancement and leadership mobility, making CMA a great option for flexible career mobility across sectors and industries.
Why Employers Value CFA and CMA for Career Mobility
Today’s employers want workers who can function well in a global workplace. Certifications such as the CFA and CMA indicate to employers that a candidate has proficiency in international finance standards and compliance with ethics.
Here is why CFA and CMA certifications are valuable to employers:
The CFA and CMA have a global curriculum and curriculum framework.
The CFA and CMA examinations are uniformly designed to have the same content and rigour internationally.
The CFA and CMA certifications represent extensive technical competencies in finance.
CFA and CMA certifications are used interchangeably by employers as a benchmark across multiple countries.
When an applicant holds a CFA or CMA designation, they have shown that they have the skills necessary for financial work. Consequently, employers will have an increased level of trust in a worker’s ability to complete work opportunities that cross borders.
Higher Salary Potential with CFA and CMA
Salary growth is an important factor that affects one’s ability to move ahead in their career. If professionals are offered higher salaries, they are usually more than happy to relocate.
There is a high degree of salary competition among CFA charterholders working in the investment banking and asset management industries, as well as among CMA professionals in corporate finance at multinational companies.
CFA and CMA certificates are globally recognized so companies will often pay a premium for CFA or CMA credentials. These higher salaries will therefore result in CFA and CMA holders seeking international positions.
Having a CFA or CMA certificate provides a significant financial advantage over non-certified professionals and contributes to an individual’s ability to progress within their respective profession.
Flexibility Across Industries
Career mobility in the field of finance is also greatly affected by the fact that finance professionals can be employed in a large number of industries and types of organisations.
Those with a CFA designation can work in any of the following industries:
- Banking
- Insurance
- Investment Firms
- Consulting
- FinTech
Those with a CMA designation can work in any of the following industries:
- Manufacturing
- Information Technology
- Healthcare
- Retail
- Multinational Corporations
As a result of having such broad industry options, CFA and CMA designation holders can change jobs easily based on current market trends, without being limited to their respective sectors.
Building Global Professional Networks
CFA and CMA offer access to extensive global professional networks.
- CFA has societies in many countries and organises events, conferences, and other opportunities for networking to help CFA candidates build relationships with financial leaders worldwide.
- Similarly, CMA members have access to the CMA International Chapters and CMA Professional Communities.
These networks create improved job referrals, increased opportunities for mentoring, and greater exposure to international work experience. Networking can significantly enhance mobility within your career; therefore, by obtaining either a CFA or CMA credential, you will reap many rewards.
A Competitive Edge in a Crowded Job Market
There are many graduates entering the finance job market with just a basic degree; however, they may not have had the opportunity to earn their CFA or CMA certification.
- Employers use these credentials to differentiate between candidates when evaluating applicants.
- A candidate with a CFA clearly demonstrates a high level of investment expertise, while a candidate with a CMA demonstrates a high level of expertise in management accounting.
- Recruiters will typically focus on sourcing globally certified candidates as their first choice when hiring internationally, as this can drastically increase that candidate’s chances of obtaining a career mobility opportunity.
Why Graduates Are Choosing CFA and CMA Early
Recent graduates have been planning for their futures, with aspirations for jobs in different countries and opportunities to increase their earnings and secure employment with proven companies that recognise them.
Therefore, many graduates have begun their pursuit of obtaining the CFA and/or CMA as soon as they graduate (or shortly thereafter).
Preparation for the CFA and/or CMA allows candidates to:
- Develop their skill set quickly
- Enhance their chance of obtaining high-paying positions
- Achieve global recognition
- Advance faster within their chosen profession
Since both CFAs and CMAs provide structured approaches to developing professionals, they are an excellent option for anyone who wishes to have a successful career.
How International Qualifications Reduce Career Barriers
Historically, when professionals wanted to apply for jobs overseas, there were restrictions on them based on their degrees being recognised only in their home country, but neither the CFA nor the CMA has this restriction.
- Employers will quickly recognise the value of CFA and CMA credentials since both of these certifications are recognized across multiple countries.
- Confusion regarding the academic credentials of an applicant is diminished, thus creating additional confidence that the applicant is qualified to perform the job for which they are applying.
- As globalisation increases, certification based on testing, such as the CFA or CMA, will continue to impact career mobility across countries.
The Future of Career Mobility in Finance
There is a growing need for professionals to help fill these roles across many industries. The CMA and CFA certification programmes also provide a very good match to trends surrounding globalised financial services.
- The CFA provides a more comprehensive analysis of the market around the world, and the CMA oversees the finance and accounting function of a multinational company.
- With these two internationally recognised certifications, there is an optimistic view regarding careers available to people looking to establish themselves in the international financial services industry.
Conclusion: Why CFA and CMA Are Shaping Global Careers
For ambitious careers seeking international exposure and movement, having an international finance qualification is essential.
If you are looking to work in investment or financial markets, you should get a CFA. If you want to work in corporate finance/management roles, CMA would be the best choice. Both certifications provide worldwide recognition, increased earning potential, flexibility across industries, and professional credibility.
As businesses become more global, they will seek professionals with global certification. CFA/CMA-certified professionals can build their careers without geographic boundaries; obtaining either certification can be strategic.
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