4 professional degrees you can pursue after your graduation

Professional degrees are qualifications that focus on particular specialisations. They are globally standardised tests designed to test both the academic and practical knowledge of the applicants. Most of them require a fixed amount of experience and require applicants to pass the tests to attain the degree finally.

As competition is increasing in the corporate world, fresh graduates and professionals are getting more and more interested in pursuing these degrees to hone their skills and stand out. Not only do they help one to move his career forward with higher expertise in his/her field, but they also add more credibility to his/her resume for applying abroad.

Here are four such business based professional degrees that you can pursue:

Chartered Accountant (CA)

Focus: Financial Accounting, Audits, Taxation

Required time: 3-4 years

Number of levels: 3

Required experience:  ~Articleship

Number of tests: 17

Exam sessions each year: January & June

Chartered Accountant (CA) is one of the most sought-after professional degrees in the world. It is a globally accepted designation for accounting professionals. The degree is provided by the Institute of Chartered Accountants of Bangladesh (ICAB), which is the national professional accounting body.

The exam is divided into three levels: advanced level, professional level, and advanced level. One has to pass a total of 17 exams (7+7+3) to become a chartered accountant. Exams are usually taken twice each year, once in January and once in June.

Anyone with a minimum GPA of 5 in SSC and GPA of 4 in HSC or 38 points with 5 subjects in O Levels and 12 points with 3 subjects in A level can take the exams upon the completion of prescribed training of articleship in a CA firm. Some graduates get exemptions in some courses.

Usually, it takes three years for graduates and four years for non-graduates to complete the CA degree.

Chartered Financial Analyst (CFA)

Focus: Finance, Investments, Portfolio

Required time: ~4 years

Number of levels: 3

Required experience: 4 years

Number of tests: 3

Exam sessions each year: February, May, August & November (differs according to level)

Chartered Financial Analyst (CFA) is a graduate-level self-study program organised by the American based CFA Institute. It is the global standard for investment knowledge, standards, and ethics and tests the knowledge of investment tools, valuation, portfolio management, etc.

The exams are administered by the CFA Society Bangladesh. Students in their final year of bachelor's degree or graduates or individuals with 4000 combined hours of work experience and higher education in three sequential years can apply for CFA.

There are three levels, and about 300+ study hours are required for each level. For passing the second and third stage, professional experience is needed.

A total of $2400 to $4800 is required depending on when one applies for taking the tests. However, there are scholarships available.

Level I CFA exams take place four times a year, whereas Level II and III take place two times a year.

Chartered Global Management

Focus: Management Accounting

Required time: 2.5-3 years

Number of levels: 4

Required experience: 3 years

Number of tests: 15

Exam sessions each year: May & November

Chartered Global Management Accountant (CGMA) is the highest management accounting designation in the world. It is administered by the world's largest professional body of management accountants, the Chartered Institute of Management Accountants (CIMA).

Any undergraduate or student of relevant qualification of a similar professional body can apply for CIMA. Based on backgrounds, students enter from different backgrounds and can get exemptions. The degree is divided into four levels: certificate in accounting, operational, management, and strategic.

The first level comprises 4 objective exams. All the latter three levels consist of 3 objective exams and 1 case study each. Three years of professional experience is required as well.

It usually takes two and a half years to complete the course and costs about $4500, divided into phases.

Exams are computer-based and take place on the same day globally during May and November.

Accountant (CGMA) Actuarial Science

Focus: Insurance, Mathematics, Statistics

Required time: 7-10 years

Number of levels: 4

Required experience: 3 years

Number of tests: 13

Exam sessions each year: April & September

Actuarial science deals with applying mathematics, statistics, financial accounting, and business knowledge to assess risk in insurance and finance-related fields. There are a few institutions that offer degrees in actuarial science. The most popular one in Bangladesh is the UK based 'Institute and Faculty of Actuaries (IFoA)'.

To become an actuary, one has to pass 13 tests in 4 stages and have a minimum of 3 years of professional experience. British Council administers the exams in Bangladesh. The first stage entails seven tests on professional skills, the second stage 3 tests on core practices, and the final two stages three tests on specialist elective subjects. After the completion of the first two stages and two years of experience, one becomes an associate actuary. After the completion of the whole program, one becomes a fellow actuary.

It usually takes 7 to 10 years, depending on how frequently one passes the exams. Exams are taken twice a year, in April and September.

The cost of the exams differs based on the number of exemptions and the time of the registrations. Scholarships are available for some of the degrees.