Professional development and training in finance

Some careers in finance require a professional qualification for you to progress. Find out which professional bodies are recognised by the sector and how to obtain membership...

Do I need to do postgraduate study?

You don't need to do a vocational Masters degree to get a career in finance, but it will prove your interest in and develop your knowledge of the subject. You can study specialised courses in financial management, accounting and finance, investment management, and insurance and risk management. If you have a non-vocational undergraduate degree, studying for these degrees can work in your favour.  

In some cases, professional qualifications can be necessary for career progression. Continuing professional development (CPD) is important and your employer will expect you to stay up to date and remain knowledgeable about the industry.

Organisations in this industry will support graduates wishing to embark on further study and professional qualifications, often by paying for courses and exam fees and allowing study leave.

For more information on entry requirements and career development in the finance sector, see types of jobs.

To find a postgraduate finance course in the UK, search accounting and finance courses and research.

Should I join a professional body?

Membership of an industry-specific professional body will enhance your status within your field of expertise. In many accountancy roles, membership of a professional body is compulsory.

You can undertake international work and study with the many professional finance qualifications that are recognised around the world. The ACCA Qualification from the Association of Chartered Accountants is one example among many.

By joining a professional body, you can also:

• access training and events;
• network with colleagues in the profession;
• increase your chances of promotion. 

Which professional qualifications are recognised in the sector?

The following professional bodies offer members the opportunity to obtain professional qualifications:

• The Actuarial Profession  - to become an associate member and qualify as an actuary takes three to six years. The route to qualification includes a set of exams, a professional skills course and work experience. Study is done by distance learning.
• Association of Chartered Certified Accountants (ACCA)  - the international body for professional accountants offers the ACCA Qualification, the graduate entry route to becoming a qualified accountant. Students must complete up to 14 exams, a professional ethics module and record three years' relevant work experience. 
• Chartered Banker Institute  - the only banking institute in the UK. It provides a range of banking and professional services qualifications including the Chartered Banker programme, which focuses on seven core banking skills.
• Chartered Institute of Management Accountants (CIMA)  - CIMA's professional qualification comprises three stages at operational, management and strategic level, as well as a test of professional competence in management accounting, which includes practical experience and a case study exam. Each level requires students to pass three, three-hour exams with a 50% pass rate.
• Chartered Insurance Institute (CII)  - in order to obtain chartered status you need to have completed five years of work experience and the Advanced Diploma in Insurance.
• ifs School of Finance  - for those wishing to gain a professional qualification at the same time as studying for an undergraduate degree, the ifs offers a unique study programme whereby students taking the BSc (Hons) in Banking Practice and Management also study for a Professional Certificate in Banking.
• Institute of Chartered Accountants in England and Wales (ICAEW)  - the ACA qualification to become a chartered accountant involves up to 15 study modules, 450 days of relevant work experience, training in ethics, and initial professional development in five key areas.