7 Top Career Options After BAF: What To Do After BAF? [2023]

The finance sector has assumed immense importance in contemporary times. It transcends traditional boundaries due to technological advancement, globalisation, and fast-evolving market dynamics.  As the world becomes more globalised and economies more intertwined, the finance sector plays an essential role by allocating resources effectively and boosting economies through investment and effective financial risk management.

Finance experts are critical in assisting individuals in achieving financial independence, security, and the growth of enterprises and nations. A Bachelor of Accounting and Finance (BAF) degree can provide you with various opportunities for job progression at a time when finance professionals play such a vital role in the economy.  

If you are contemplating “What can a BAF student do?”, here’s a comprehensive guide on the top career options you can pursue after a BAF degree. 

Top Careers After Completing BAF

If you are a BAF graduate, the question “What should I do after graduation in BAF?” must have come to your mind. To put your worries to rest, we have listed several options you can choose from after pursuing a bachelor’s degree in accounting and finance. 

Check out the top career options after a BAF mentioned below to see what suits you the best:

1. Chartered Accountancy (CA)

Chartered Accountancy (CA) is a prestigious professional qualification that equips individuals with an in-depth understanding of accounting, financial management, taxation, and business laws. 

CAs are entrusted with critical financial roles in diverse industries. They offer expert guidance on financial matters, auditing, taxation strategies, and business advisory services.

Below are some key elements of a CA qualification:

• Intense competition: CA exams pose challenges due to a large candidate pool. The competitive nature filters candidates, resulting in equally rewarding outcomes for successful individuals.
• ICAI oversight: The Institute of Chartered Accountants of India (ICAI) conducts the Chartered Accountancy exams. The examination structure comprises CPT, IPCC, and Final CA stages.
• Exemptions for graduates: BAF graduates are exempted from the CPT exam. 
• IPCC journey: The IPCC phase consists of two groups. Clearing one group leads to a 2.5-year articleship under an experienced CA, a pivotal learning experience.
• Final milestone: Upon completing articles and successfully passing both IPCC groups, candidates can undertake the Final CA exam, divided into two groups.
• Career prospects: CA qualification in India opens doors to a rewarding career. Professionals can expect competitive salaries ranging from INR 3.66 LPA (Audit Clerk) to 55 LPA (Accounting Director).

1. Master of Business Administration (MBA) in Finance

MBA in Finance involves gaining advanced expertise in financial management, investment analysis, risk evaluation, and strategic financial decision-making. This programme equips individuals with the necessary knowledge and resources to excel in various finance-oriented roles, spanning corporate finance, investment banking, and portfolio management. 

Here are some key elements of an MBA in Finance:

• Prominent choice: Many BAF graduates opt for an MBA in Finance.
• Entrance challenge: Gaining admission to top-tier institutes demands excelling in MBA entrance exams like CAT and XAT.
• Career path: MBA grads often join the financial services sector, including insurance companies, hedge fund management companies, and investment banks, among others.
• Salary outlook: Upon completing an MBA in Finance, graduates can anticipate competitive salaries, often ranging from INR 2.21 LPA (Administration Clerk) to INR 42.70 LPA (Vice President, Product Management).

1. Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) is a globally recognised professional credential administered by the CFA Institute, USA. CFA charter holders are equipped to excel in various roles within the investment and financial sector, such as portfolio management, derivative analysis, equity analysis, and financial advising. 

Below are some features of a CFA certification:

• Global certification: CFA is a globally recognised credential for entering the investment and financial sector.
• CFA Institute oversight: Managed by the CFA Institute, USA, it entails three levels of examination – level 1, level 2, and level 3 that cover investment management, financial analysis, ethics, and professional standards. 
• Professional experience: Along with clearing all levels, candidates need 4 years of professional experience to earn the CFA charter.
• Versatile career paths: A CFA charter holder can pursue roles such as Financial Advisor, Research Analyst, Portfolio Manager, Private Banker, and Financial Strategist.
• Competitive salaries: CFA professionals in India enjoy competitive salaries, typically ranging from INR 6.06 LPA (Chartered Financial Analyst) to INR 49.43 LPA (Chief Financial Officer). 

1. Association of Chartered Certified Accountants (ACCA)

ACCA (Association of Chartered Certified Accountants) is a globally recognised professional accounting qualification. It equips individuals with comprehensive financial and business expertise, enabling them to excel in diverse fields like accounting, audit, taxation, and financial management across various industries.

ACCA comprises three levels – Applied Knowledge, Applied Skills, and Strategic Professional. It also mandates relevant work experience for acquiring the final qualification.

Here are some primary aspects of the ACCA certification:

• Worldwide esteem: ACCA enjoys global acknowledgement as a prestigious accounting credential.
• Practical exposure: ACCA mandates hands-on experience, nurturing accounting professionals well for the industry.
• Diverse professional pathways: ACCA paves the way for roles in accounting, audit, taxation, and financial management. 
• Salary outlook: ACCA professionals in India generally secure competitive salaries, which can vary based on roles and experience. It typically ranges from INR 2.66 LPA (Accounts Assistant) to INR 27 LPA (Chief Financial Officer)

1. CMA (Certified Management Accountant) 

CMA is a prestigious professional certification for Management Accountants. It equips individuals with advanced skills in financial management, strategic planning, and performance evaluation, allowing them to excel in decision-making roles across various industries.

The CMA course is structured into three levels: Foundation, Intermediate, and Final — designed to impart comprehensive finance, accounting, law, and management knowledge.

Here are some key aspects of the CMA certification:

• Global acknowledgement: CMA enjoys international esteem as a prestigious certification for management accountants.
• Hands-on expertise: CMA mandates practical experience, cultivating well-rounded management accountants.
• Diverse professional avenues: CMA opens doors to roles encompassing financial management, strategic planning, and performance evaluation across industries.
• Salary in India: CMA professionals in India typically secure competitive salaries influenced by specific roles and experience levels. Their pay ranges from INR 4.09 LPA (Accountant) to INR 42.50 LPA (Finance Director and Vice President, Finance).

1. Chartered Institute of Management Accountants (CIMA)

CIMA (Chartered Institute of Management Accountants) is a globally recognised professional body that offers qualifications in management accounting, equipping individuals with strategic business and financial management skills.

Here are some primary features of the CIMA certification:

• Global recognition: CIMA garners global acknowledgement as a prestigious institution.
• Structured qualifications: CIMA comprises two tracks: Certificate (entry-level qualification) and Professional (segmented into Operational, Management, and Strategic levels).
• Flexible entry: CIMA welcomes individuals from various backgrounds, including those without prior knowledge, offering a gateway into business accounting. Graduates can also pursue CIMA’s Professional qualification.
• Salary outlook: The salary of CIMAs in India is lucrative. They earn between INR 4.25 LPA (Financial Analyst) to INR 42.25 LPA (Finance Director). The salary goes up with relevant experience and skills. 

1. Financial Risk Manager (FRM)

The Financial Risk Manager (FRM) certification is a globally recognised credential designed for professionals in banking and finance. The FRM programme equips individuals with expertise in managing financial risks, market analysis, risk assessment, and regulatory compliance.

Here are some key aspects of an FRM certification:

• Global recognition: The FRM programme is internationally acclaimed for banking and finance professionals.
• Administered by GARP: Exams are overseen by the Global Association of Risk Professionals (GARP), USA, with two levels – level 1 and level 2.
• Professional experience: FRM aspirants need to pass both levels and gain 2 years of relevant professional experience.
• Diverse career prospects: FRM certification opens avenues in risk management and financial modelling, among other fields.
• Salary in India: In India, FRM professionals often secure competitive salaries ranging from around INR 6.01 LPA (Financial Analyst) to INR 50.45 LPA (Chief Risk Officer), with the potential for substantial growth as professionals gain experience. 

Conclusion

The roles that accounting and finance professionals play hugely contribute to building modern businesses. From optimising costs to managing risks and fostering transparent communication, these professionals are indispensable in driving business growth and mitigating uncertainties. If you are still wondering what is the future of BAF students, head to The WallStreet School, India. 

The WallStreet School offers expert guidance and preparatory courses in finance and accounting with 100% placement assistance. With comprehensive training from The WallStreet School, be equipped with all the skills necessary to drive sustainable growth in a competitive economy. 

Choose your path to a lucrative career in finance with ACCA (online/offline), CFA (online/offline), CPA (online/offline), CMA (online/offline), FRM (online/offline), and CIMA (online/offline) by the WallStreet School today!

Contact us via email or phone (+91-9953729651)

FAQs

• What is the highest salary in BAF?

The highest salary with a BAF degree could go up to INR 55 LPA (Accounting Director) for Chartered Accountants. This may vary from industry to industry. 

• What is the future of BAF?

The future of BAF graduates is promising. With the evolving complexity of financial regulations and the growing demand for financial expertise in various industries, BAF graduates can anticipate diverse career opportunities in accounting, finance, risk management, and advisory roles.

• What job can a BAF student do?

BAF graduates have access to many job opportunities in the public and private sectors. These job roles encompass a broad spectrum, including Auditors, Accountants, Finance Managers, Financial Analysts, Export or Import Managers, Tax Consultants, and Stockbrokers. With experience, professionals can expect higher-paying, top-tier positions such as that of Chief Financial Officer and Vice President of Finance.