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CAREER ADVISOR
“Your
Career Advisor” is responding to the following
two inquiries:"Should I pursue a career in finance or in marketing after obtaining my MBA ?"
also;
“There are a number of accounting and finance certifications; eg. CMA, CIA, CFA etc.. what is the difference between them and where can I prepare for their exams ?”
All reasonable questions related to careers, skill development or employment related issues – sent to advisor@skill-link.com - would be addressed in this section every week.
Q1:
Should I pursue a career in finance or in marketing after obtaining my MBA ?
After my graduation I looked for a job where I could gain some
knowledge and experience. Unfortunately there weren’t that many; any way I was
hired as a customer service office at one of the mobile services companies. I am
currently preparing my MBA and about to finish my second semester.
What confuses me is should I have my MBA concentration in finance or in
marketing ?
It does seem to be a stupid
question ,but from what I see there is no marketing in Egypt or as you just say
(in response to a previous question to Your
Career Advisor) there is a big confusion between marketing and sales.
Additionally, the market is currently unstable in Egyt, On the other hand the
finance & banking sector is somewhat stable; however I hate the routine
work. I therefore need to know an advice.
A. A. (Egypt)
Replying:
Dear Mr. A
Since last week we have
elaborated on the marketing function, we will get directly to the subject. It is
unfair to label a certain function or industry as boring or repetitive. Both the
marketing function and the finance function have their exciting part and their
more repetitive aspects.
For example, in the finance
function or the financial sector in general a lot of people may find working in
the investment field, in credit assessments (banking); in corporate finance and
restructuring or in investor relations very exciting.
In marketing some
tasks/roles such as market surveys or developing promotional brochures and
documentation are seen as not very exciting by some people.
In some cases marketing and
finance overlap; such as marketing financial services, funds, credit cards and
banking services in general … the person working in that area needs a
combination of both. Also for people in investment banking that promote the
shares of a company, they need to be aware of the key concepts of marketing.
You should also note that
an MBA is just a degree, it is not equivalent to you investing 10 years of your
life in a certain function or job. If you are ever applying for a marketing job,
having an MBA with a concentration in finance will not be the reason to reject
your application.
So in conclusion, choose
the concentration you like most, they are both useful. If you really cannot
decide, and you are desperate for our opinion, then we would prefer the finance
concentration. Why ?
because we believe finance topics are better assimilated / understood through
structured learning/education. It is not that often for someone to lay on his
bed to read a book on corporate valuation or on the portfolio theory. On the
other hand, marketing related topics are easier to read and assimilate at your
own leisure. At any time you could be reading a book on marketing strategies,
advertising case studies and benefiting from it.
Good Luck
Q2:
The various accounting & finance certifications (CMA, CFA, CFM) and
preparing for the exams ?
I am an accounting graduate, 24 years old and eager to develop my skills in the
field of finance. I understand there is are a number of accounting and finance
certifications; eg. CMA, CIA, CFA, CFM etc.. what is the difference between them
and where can I prepare for their exams ?”
W. T. (Egypt)
Replying:
(Sherif
Tantawy, Senior Consultant in FINRATE
CONSULTING SAE has contributed the
reply to this question)
Dear Mr. T
The Certified Management
Accountant (CMA) and the Certified in
Financial Management (CFM) programs are
designed to recognize the unique qualifications and expertise of those
professionals engaged in management accounting and financial management. The
program consists of four parts covering several topics (as stated below): Both
programs are identical except in PART TWO.
CFM - CMA : PART I
Economics, Finance and Management.
CFM : PART II Corporate
Financial Management
CMA : PART II Financial
Accounting & Reporting
CFM -CMA : PART III
Management Reporting, Analysis and Behavioral Issues
CFM -CMA : PART IV Decision
Analysis and Information Systems
For more details : www.imanet.org
The Chartered Financial
Analyst Program (CFA) is a globally
recognized standard for measuring the competence and integrity of financial
analysts. The Program is divided into three levels, the candidate may sit for
only one examination each year.
LEVEL I : focuses on the
tools and concepts of investment valuation and portfolio management.
LEVEL II : focuses on asset
valuation.
LEVEL III : focuses on
portfolio management and asset allocation.
Each level also contains
materials on ethics as it pertains to the practice of investment management.
For more details : www.aimr.com
Certified Internal Auditor
Program (CIA) : The design of this course will enable a knowledgeable candidate
an opportunity to become a Certified Internal Auditor. The Institute of Internal
Auditors developed their own set of criteria in order for candidates to obtain
and maintain their Professional Designation as a Certified Internal Auditor.
For more information visit http://www.theiia.org
COURSE PREPARATION CENTERS
IN EGYPT:
Arab Academy for Science,
Technology and Maritime Transportation
Dr. Alaa Kamal
Course Location: Community
Service & Continuing Education Programs
Gamal Abdel Nasser Ave.
Miami. P.O. Box 1029 Alexandria,
Phone: (203) 5487287 ;
5570515 Fax: (203) 5487786
a_kamal@aast.edu
BeckerConviser CMA Review, C/O The American University in Cairo
Course Location: 11 Youssef
El Guindi St., Bab-El-Look, El Jameel Center,
6th Fl., Cairo, Phone:
20-2-3576735/2 Fax: 20-2-594-3847
Center for Adult & Continuing Education (CACE)
Course Location: American
University of Cairo
Business Studies Division
28 Falaki Street, Bab
El-Louk Cairo,
Phone: 202 797 6882; 202
797 6858 Fax: 202 795 7565
Lambers CMA/CFM Review
Course Location: Khaled M.
Heshmat, CPA, CIA, CMA, CFM
79, Mossadak st., 7th floor
Dokki 12311 ; Giza
Phone: 02-3493822 ;
012-3187449 ; 010-5274228
Fax: 20-2-3493822
American Chamber of Commerce
Mohamed Amin Hemimi, MBA
33, Soliman Abaza Street
Dokki 12311 Giza,
Phone: 02-3380860 Fax:
02-3389894
Good Luck.
Note from the editor:
Employer names and inquiry sender names were withheld for confidentiality