Over 80% Of Finance & Accounting Students Choose Professional Certifications To Enhance Career Prospects: Survey

Zell Education has recently released its survey results conducted among Finance and Accounting students across India. 84 per cent of students have actively invested in various industry credentials like CFA, CPA, CMA, ACCA etc., to solidify their chances to tap good employment opportunities. 

Out of 1000 plus respondents, the ratio between male and female students in the Finance and Accounting field is marginal (52 per cent male and 46 per cent male), signaling 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 per cent. Only 2.8 per cent 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 per cent   investing in certifications, followed by Tier II cities at 8 per cent and 4.6 per cent from Tier III cities. 

Additionally, an impressive 74 per cent of respondents are currently pursuing certification. 75 per cent of respondents have cited better career prospects as the leading factor in pursuing education in the Finance and Accounting field, closely followed by 65 per cent of respondents reporting personal interest. 37 per cent of respondents have quoted educational exposure as their driving factor while only 16 per cent have taken this decision based on family/friend influence. 

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

Interestingly, most respondents are students and professionals; 50 per cent still consider themselves beginners and only 4 per cent at advanced levels. In tandem with the in-demand roles, 36 per cent of respondents are interested in Financial Analysis, 24 per cent in Investment Banking, 14 per cent in Auditing, 11 per cent in Financial Reporting, 8 per cent in Taxation and 5 per cent in Risk Management. The private sector, Entrepreneurship and Social service (NGOs) are the leading choices for employment at 73 per cent, 16 per cent and 8 per cent, respectively.