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NCFM Certifications and Career OptionsBY: Vivek SHARMA | Category: Finance | Submitted: 2012-02-12 07:16:29
National Stock Exchange runs certain courses on financial education which are popularly know as NSE Certification in Financial Markets (NCFM). There are various modules offered under NCFM certifications which have coverage area ranging from stock market to banking to insurance. Many students/professionals appear in the examination for these certifications. The demand for these certifications arises primarily for two reasons: 1) some of the certifications are pre-requisite to start businesses like depository, broking and mutual funds or essential for employment in some profiles like dealers and 2) NSE has designed some certifications meticulously by giving them catchy names like ,' Fundamental Analysis',' Banking Module' etc which attracts participants seeking knowledge in these areas.
I have myself done 12 certifications of NSE which includes 1) Financial Market, 2) Depository, 3) Commercial Banking, 4) Currency Derivatives, 5) Equity Derivatives, 6) Mutual Fund, 7)Interest Rate Futures, Derivatives Dealers 9) Commodities 10) Capital Market Dealers Module, 11) Surveillance Module and 12) Options Strategies Module. My NCFM id is NCFM00000036853. I did these modules over a period of time and some of the certifications have expired now. The reason I passed these modules was that my employer gave reimbursement for these certifications.
Based on my experience, I can tell you that barring the modules which are essentially required for the purpose of business or starting a career in depository, mutual fund, derivatives or equities, NCFM certificates do not carry much value. The reasons are many. For example, if you want to do certification in banking it makes sense to go for IIBF certification or if you want to do an insurance certification the better option could be a certification from Insurance Institute of India . It is better to do certification on derivatives from CISI, London . You can have exposure to both exchange traded as well as OTC derivatives certification and look forwarded to career in BPO industry.
Some of the benefits that NCFM courses offer you are 1) The cost are very small, 2) Many employers reimburse the fees, 3) Easy to grasp and pass, 4) Employability at junior level in case of dealers or in sales in mutual fund. However, it is important to note that as a dealer you won't get employment without some experience. Please note that NCFM certifications are necessary but not sufficient qualification to get certain types of jobs primarily as a dealer. However, I would suggest that those who have no exposure to financial markets can start with these certifications without much expectation in terms of career growth.
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