About 84% of students actively invested in various industry credentials such as CFA, CPA, CMA, ACCA, among other professional certificates to solidify their chances to tap good employment opportunities, a survey by ed-platform, Zell Education, stated.
As per the survey, female students competing with their male counterparts in the given fields have increased steadily over the years. Out of over 1,000 respondents, the difference between male versus female students in the Finance and Accounting field is marginal at 52% and 46% respectively.
The survey was conducted among Finance and Accounting students across India. Though younger students ranging from 18-24 years are more inclined to pursue certification compared to professionals of 25-34 years at 15%, the survey stated. Only 2.8% of professionals in the range of 35-44 years seek any additional credentials, the survey added.
Furthermore, the survey shows that all Tier-1 metro cities have the highest percentage of respondents (63%) investing in certification/s, followed by Tier-2 cities at 8% and 4.6% from Tier-3 cities. Additionally, around 74% of respondents are currently pursuing certification while 75% of respondents have cited better career prospects as the leading factor in pursuing education in the Finance and Accounting field, the survey stated. This is closely followed by 65% of respondents reporting personal interest and 37% of respondents quoting educational exposure as their driving factor while only 16% have taken this decision based on family/friend influence.
Financial Analyst was a top career of choice for the respondents, followed by Investment Banking, Accounting, Auditing, and Financial Planning roles at 37%, 24%, 17%, 14% and 6%, respectively. 46% of respondents also firmly believe that earning certification will lead to high-earning opportunities, while 35% aim for career advancement. Furthermore, job stability, challenging work and work-life balance at 7%, 6% and 5% are some other reasons to pursue a career in this field.
“Survey reveals a powerful shift in finance education. With 84% 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,” Anant Bengani, co-founder, director, Zell education, said.
Interestingly, most respondents are students and professionals; 50% still consider themselves beginners, and only 4% at advanced levels. In tandem with the in-demand roles, 36% of respondents are interested in Financial Analysis, 24% in Investment Banking, 14% in Auditing, 11% in Financial Reporting, 8% in Taxation and 5% in Risk Management. The private sector, Entrepreneurship and Social service (NGOs) are the leading choices for employment at 73%, 16% and 8%, respectively.