CFA
CFA is short for "CharteredFinancial Analyst". Also known as "Chartered Financial Analyst".
People for textual research:
The examination focuses on the most advanced international financial theory and technology, including investment analysis, portfolio management, financial statement analysis, corporate finance, economics, investment performance evaluation and professional ethics. CFA qualification certificates are awarded to a wide range of professionals in various investment fields, including fund managers, securities analysts, chief financial officers, investment consultants, investment bankers, traders and so on.
exam scope:
CFA exam content is divided into three different levels, namely, Level I, LevelII and Level III. The exam is held in all locations around the world, and each candidate must complete three different levels of exams in turn. CFA qualification examination is conducted in English, and candidates should not only have financial knowledge, but also have good English reading ability. Successfully passing CFA course is an achievement, which can win the high respect of employers, investors and the whole investment community. With the increasing number of CFA exam references, since 23, the Investment Management and Research Association has increased the Level I exam from once a year to twice a year. In addition to being held in 16 test sites around the world in May/June, it will be held again in 23 regions with relatively concentrated candidates, including Singapore and Hong Kong. Therefore, from 23, Level I candidates will have two opportunities to take the exam. Examination rooms have been set up in mainland China, with Beijing, Shanghai, Guangzhou and Hong Kong in June and Beijing, Shanghai and Hong Kong in December each year.
China candidates generally feel that the exam is very difficult and expensive, and it will cost at least 2,-3, RMB to complete all the exams. The contents of the examination are as follows: ① ethical and professional standards; ② Financial accounting; ③ Quantitative technology; 4 economics; ⑤ Analysis of fixed income securities; ⑥ Analysis of equity securities; ⑦ portfolio investment management.
certificate prospect:
the world-renowned institutions that employ CFA people the most include Merrill Lynch, Goldman Sachs, Morgan, Citigroup, PricewaterhouseCoopers, etc. There is an urgent need for high-end financial talents: many companies clearly put forward that people with work experience and professional certificates (CPA, CFA, FRM) are preferred, especially foreign-funded institutions.
According to incomplete statistics, China will need 15, professionals in the financial field every year in the next ten years. At present, obtaining this certificate has a broad employment prospect in China. The salary is between 5-1 million.
People who work in the financial circle, usually masters from famous universities at home and abroad, have been living in the world with flowers and applause. CFAer has done a survey, and many people who work hard in the financial circle are CFA (Chartered Financial Analyst) holders. Even if their ancestors have not accumulated wealth for three generations, they can live an elite life of being rich, handsome and beautiful by virtue of their own strength.
CFA's international recognition: high, global investment pass.
CFA has a high degree of domestic recognition, and it is the "trump card" certification in the high-end financial field.
With the continuous development of China's capital market and the trend that Internet finance is getting hotter and hotter, the already hot financial certificate has won the pursuit of many job seekers. At present, financial enterprises are very interested in whether candidates hold CFA qualifications when recruiting. It can be seen that the employers of financial enterprises have an extraordinary recognition of CFA. Ultra-high recognition and unusually hot, the trend has raised the salary of CFA holders.
The survey on the salary of the investment industry shows that employers are willing to offer high bonuses to investment professionals with CFA chartered qualifications. Among people with 1 years or more work experience, those with CFA certification earn 24% more than those without CFA certification (the median is between $248, and $2,). If work experience is not taken into account, the pay gap is even greater. People with CFA certification earn 54% more than those without CFA certification (between $18, and $116,85).
The data shows that the annual income of CFA holders in Singapore is about 113, US dollars, that of Canada is 18, US dollars, and the global average salary is 178, US dollars. In the United States, the average annual salary of CFA holders is about 6, yuan higher than that of Harvard MBA.
American CFA holder
basic salary: $194,
basic salary plus bonus: $34,
working for more than 1 years plus bonus: $392,
British CFA holder
basic salary: $179,
.
CFA holder in Hong Kong
Basic salary: $194,
Basic salary plus bonus: $34,
Basic salary plus bonus for working for more than 1 years: $392,
ACCA (chartered certified accountants)
ACCA- The Association of Chartered Certified Accountants (ACCA) was established in 194. It is the leading professional accountant group in the world at present, and it is also the professional accountant organization with the largest number of overseas students and the fastest growing student scale in the world.
Qualification:
If you want to register as an ACCA student, you need to have the corresponding admission qualification of a British university.
Exam content:
ACCA has developed a detailed syllabus, special teaching materials and supporting learning materials, and * * * has 14 exam courses, which are given by British university accounting and financial experts, with unified teaching materials, unified examinations, unified marking and unified grading standards. Every year in June and December, examination rooms are set up around the world, and the examination time for each course is 3 hours. The whole learning process is divided into three stages, six units and 14 courses:
First, the basic stage: Unit A: 1, accounting outline 2, legal outline; Unit B: 3, Management Information 4, Organization Outline.
second, certificate stage: unit c: 5, information analysis 6, audit outline: unit d: 7, tax outline 8, management finance.
Third, professional stage: Unit E: 9, Control and Decision Information 1, Accounting and Auditing Practice 11, Tax Planning; F module 12, management and strategy 13, financial reporting environment 14, financial strategy.
certificate prospect:
according to the ACCA survey in 28, the annual salary of members is mainly between 1, and 8,, which is much higher than the income of financial personnel in the general market. Among ACCA members aged 26-3, the main salary range is 1,-3,, and the starting salary is above 5,. The salary range of ACCA members aged 31 to 4 is 2, to 5,. According to the mid-year salary report of Worry-Free Index in 24, the average monthly salary of financial personnel is between 15 yuan and 2999 yuan (that is, the annual salary is between 18, yuan and 36, yuan). According to the results of the eighth salary survey of ChinaHR.com, the starting salary of the high-paid class in Shanghai is 12, yuan per year. And the data of ChinaHR.com also shows that the income of ACCA members exceeds the average annual income of graduate students (48, yuan) and MBA graduates (6, yuan).
According to the data, 65% of ACCA members hold middle and senior positions in enterprises, such as partners of certified public accountants, financial managers, chief financial officers and general managers of multinational companies. Financial executives account for 22% of all the respondents, with an annual salary ranging from 25, to 1 million, and middle-level financial managers with an annual salary ranging from 1, to 4,.
from the distribution of annual salary, ACCA members have obvious income advantages in all income ranges above 3,, and the proportion is much higher than that of associate members and students. The proportion of ACCA members' income between 5 thousand and 1 million is as high as 21% The highest annual salary of the members interviewed exceeds 2 million.
9% of the respondents expect the annual salary to continue to rise in the future. In 28, the annual salary of respondents showed an overall growth trend, with 58% of respondents' annual salary increasing by more than 1% and 2% of respondents' annual salary increasing by more than 3%. Among them, the annual salary of 42% ACCA associate members has increased by more than 3%.
CPA
CPA (certified public accountant) is the abbreviation of certified public accountant. Refers to the practitioners who have obtained the certificate of certified public accountant according to law and are entrusted to engage in auditing, accounting consulting and accounting services.
Application conditions:
Any China citizen who has graduated from a junior college or above, or has an intermediate or above technical title in accounting or related major, can apply to take the national unified examination for certified public accountants; Personnel with senior technical titles in accounting or related majors may be exempted from examinations in some subjects. Those who have passed the national unified examination for certified public accountants and have been engaged in auditing for more than two years may apply to the Institute of Certified Public Accountants of provinces, autonomous regions and municipalities directly under the Central Government for registration.
Examination content:
Since 29, the CPA examination has been reformed. The CPA examination under the new system is divided into two stages.
the first stage is a professional stage, which requires you to pass six exams in five consecutive years.
The second stage is the comprehensive stage: it is required to pass the comprehensive vocational ability test within five consecutive years. Only by passing all two stages of the examination can you get a general certificate. It can be seen that the requirements for certified public accountants are getting higher and higher now.
certificate prospect:
at present, the examination of CPA qualification is the most difficult among all kinds of qualification examinations in China; Fortunately, you can pass the exam within five years. Therefore, the gold content of certified public accountants is very high now. Many large and medium-sized enterprises have the positions of chief accountant, financial manager, finance minister, chief financial officer and chief accountant, all of which need to hold the certificate of certified public accountant. The salary of those who hold the certificate of certified public accountant starts from 5,-8, yuan per month in economically underdeveloped areas, and is around 1,-2, yuan in economically developed areas. If you start an accounting firm as a partner, your annual income will be one million yuan. The prospect is bright, and the "money" scene is also bright!
FRM (FinancialRiskManager)
Financial Risk Manager (FRM). It is an international professional qualification for professional risk managers. Certification and examination by Global Risk Management Association (GARP).
Three thresholds:
Threshold 1: The examination is difficult: the examination subjects are comprehensive, covering the fields of market risk, credit risk, operational risk and corporate governance, and involving many disciplines such as modern management, finance, economics and quantitative statistics, and the knowledge structure is complex. Therefore, candidates need to undergo strict professional training, otherwise, it will be difficult to understand the complex quantitative relationship and the risk nature of business and products.
threshold 2: the examination cost is high: the knowledge range is wide, the reading volume of teaching materials and review materials is about 1, pages, and the time cost of candidates in review is large.
threshold 3: it is not easy to obtain qualification: the application conditions for FRM certification examination are relatively loose, and there are no restrictions on the qualifications and industries of candidates, and college students can also apply. However, if you want to get the professional qualification certificate issued by GARP, you have to go through many hurdles. First of all, you must pass the difficult FRM exam; Then, after having more than 2 years working experience in the field of financial risk or other related fields, you are eligible to apply to become a GARP member; In addition, it is necessary to sign a professional ethics convention with GARP in order to really get started and become a professional financial risk manager.
certificate prospect:
RM member, with an average annual salary of RMB 23,. Career development: the positions mainly involved are risk management department of financial institutions, audit department of financial institutions, asset management department, fund manager, financial trader (broker), investment banker, commercial bank, risk technology industry, risk consultant, accounting and audit department of enterprises, and CFO, MIS and CIO of various enterprises.
The salary level of financial risk managers is more than enough. At the same level, the average salary level is not comparable to that of business departments, but IT should be higher than that of IT, finance and other back-end departments. The salary levels offered by different companies are also very different. For example, joint venture brokers can offer double salary to the same person and the same position, compared with domestic securities companies.
the treatment of different banks is also different. Due to the increasing degree of marketization, there is more and more room for bargaining with companies according to their own abilities. It seems that the salary of risk management positions of fund companies is lower than that of securities companies. In the case of private equity companies, the difference is even greater.
Although the salary is high or low, it is reasonable. Usually, business departments are under performance pressure. If they do well, the salary will be high. If they do badly, the salary will not only be low (which may be lower than risk management), but also affect job development. Risk management is usually without performance pressure, and the distribution of year-end awards varies from company to company, with fixed bonuses, such as 6 months' salary, etc. Some also follow the overall performance of the company.
In addition, some companies offer high salaries for reasons. For example, joint-venture brokers offer high salaries in order to attract talents, because their general business is relatively simple and their career development space is small. Banks usually have better welfare, but the basic salary is weaker. Another important factor is the rank, which is also a financial risk manager. As the rank goes up, the salary naturally goes up, and it is not unusual to be 5 or 6 times worse.
In addition, the gold content of the certificate is related to the job. For example:
Venture Capital Department
is suitable for people with calm personality. Because of the need to assess risks, it is required to do things carefully. It is necessary to have a foundation in finance and a systematic study and understanding of risk management. It is best to get an FRM during school.
The graduate school
is suitable for being good at writing, not afraid of writing reports, with a spirit of research, a foundation in accounting and economics, and good at expressing and communicating with people. Generally speaking, the more suitable educational background for industry researchers is a professional undergraduate economic or financial graduate background, so that there is a certain foundation for engaging in a certain industry research, and former classmates and teachers are also future resources. Of course, students majoring in finance and economics also have their own uses, such as macro-strategy, finance and real estate.
you need to accumulate professional knowledge in related industries, have a certain foundation in finance, finance and accounting, have CFA and CPA qualifications, or pass CFA level 2 and CPA.
Direct Investment Department
It is best to have certain industry experience and social experience to do direct investment, and it is not easy to be fooled. If you are a fresh graduate, you need to accumulate experience and ability as soon as possible, be bold and cautious, and be suitable for students with flexible minds and broad ideas. You need to be familiar with financial statements, and you can accumulate financial knowledge such as accounting and finance at school.