Certified Corporate Financial Planning & Analysis Professional
Fairly new certification. I think started in 2013. Any thoughts? Anyone heard of it? Is it worth it? I currently work in FP&A. I have about 3 years experience, but plan to stay in FP&A and hopefully move into a management role. Thinking this might help with increased knowledge and possible promotion in the future.
Thoughts?
Thanks!
$1000-$1400 just to apply and sit with another $1k for prep materials for a certification no one else has heard of (therefore no other materials exist and passing it without materials is a gamble)?
Run far, far away. This is a certification that is not needed or required. If it was a few hundred all-in I'd say "ask your employer to pay for it if you have the free time", but the cost and relative obscurity reminds me of some certifications you see in the HR space. If someone actually applied with this thing I would possibly assume they had more money than brains.
Certification is not a standard thing in the FP&A space. Some companies may require a CPA at the management levels just to prove some financial aptitude - but even this is in the "few and far between (but known)" classification. Some may value an MBA within management.
Very few (and zero savvy, experienced professionals) will look at a CCFP&AP (I don't even know the acronym) and say: "let's hire that one!" because of it.
By the way: if you do want to have a career in FP&A and have a certification for your own personal development I would consider the following:
CPA (if you are a candidate) - this is very respected in accounting and finance - even among people with no desire to ever work in public accounting. Not everyone meets the eligibility requirements though.
CMA - this is lesser known and has a reasonable all-in cost with eligibility requirements that are easier to meet than the CPA. To those who are aware of it, the knowledge required is incredibly valuable and relevant... even to "non-accounting" finance folks. You will never see the CMA in any job requirements but this is one which can only add value if you have it and is not too difficult to maintain.
Thanks for the input. I have my MBA so was told that I don't need my CPA. I guess it depends on the company...
For the most part you don't. Some companies are old school and like to see it (even though it's not really applicable knowledge). They are few and far between but out there. You'll be fine without it.
The curriculum looks very good, but Managerette is correct. You will not move the needle by becoming a "certified FP&A." But the certificate is very new, so it would be wise to wait to see if it gains any traction as the FP&A profession evolves in the years to come.
I also agree re: CPA and CMA. For the CPA, if you have your MBA and can pass all 4 exams, I believe you are eligible to earn a non-reporting CPA license from Mass (you don't need to live there). The CMA would be another option but as was said, it is not nearly as well-regarded as a CPA. But the content is more useful for FP&A.
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