3 minute read
Postgraduate Pathways in the Financial Sector
If you want to specialise in an area of finance but do not have a related degree, consider taking up a postgraduate study.
On top of helping to secure employment in the competitive finance sector, postgraduate studies can take you down your desired career path of specialisation. But before you make your move, conduct thorough research to consider your options: Do you have the commitment to complete the course? Do you meet the prerequisites, and where do you foresee yourself going after that?
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Do it at the right time and for the right reasons
Going back to school is typically for those who want to make a switch to finance after having pursued an unrelated first degree, or others who wish to specialise in a particular area. For these reasons, a postgraduate degree is an investment in yourself. But it does not come without risks and costs; for instance, you will have to spend time away from the workforce, especially if you choose to study full-time.
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Speak to recruiters
If you have already decided on a certain career path, your best option would be to speak to recruiters first as they can advise on recommended courses and where you should take them. At the end of the day, though, you will still need to show that you have both the hard and soft skills to get the job done.
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Know your options
Postgraduate options in the financial sector range from a Master of Business Administration (MBA) to Finance, Accounting, Management and Economics (FAME) degrees, as well as professional qualifications for the technical aspects of accounting and financial management.
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Consider alternatives
If you have just started out in a finance career, an MBA would be the traditional option for investment banking pathways. However, it is not focused on technical foundations, unlike the Chartered Financial Analyst (CFA) qualification, which costs less and suits early career investment bankers dealing with fund management.
Enrolling into a MBA programme is still prestigious, feasible and offers a wide network of contacts into industries beyond finance. Make it a point to look into the syllabus before registering for a programme, though, to not only understand exactly what you will get out of it, but also to make sure that it offers the right balance of management and technical knowledge you are looking for.
Other short-term courses include the Certified Treasury Professional (CTP), Certified Professional Risk Manager (CPRM), Corporate Finance Qualification (CF), Certified Valuation Analyst (CVA) and the Certificate in Quantitative Finance (CQF).
A Master of Science in Finance (MSc) is another viable option. Popular choices include the MSc in Applied Finance offered by the Singapore Management University (SMU), the MSc in Financial Engineering awarded by the National University of Singapore (NUS) and the University College Dublin’s MSc in Finance found in Kaplan Singapore. You may even prefer an MSc in Finance over an MBA as it does not require much work experience in a related field – a vital criterion for entering an MBA programme.
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Figure out what you want to learn
In finance, a strong understanding of theory, business and industry practices; knowledge of markets, trade and investment; and skills in research, numeracy, statistics, analysis and communication are all needed.
On the other hand, degrees in FAME subjects usually include accountancy skill certifications. This is because accounting calls for quantitative skills, specialised accounting knowledge, an understanding of generally accepted accounting principles (GAAP) and regulation and industry knowledge.
If you are interested in entering the accounting sector but hold an unrelated degree, consider a Master of Accounting (MAcc), Master of Professional Accounting (MPAc), or other certifications, such as the Certified Public Accountant (CPA) and Chartered Accountant (CA).
In short, choose the right course for yourself after looking carefully at the costs and possible returns alongside your end goal(s), whether it is specialisation, advancement, or something else.