There are no compulsory subjects required for financial management. There are recommended subjects which can help you, such as:
- Accounting
- Business Studies
- Economics
However, these subjects are only suggestions, they are not compulsory.
Accounting is useful because you will then already have basic knowledge and understanding of accounting and what you will be studying to become a Manager of. Knowing what you will be managing eventually keeps you a step ahead from the beginning.
Economics is useful because as a Financial Manager you will eventually be handling economic projections to advise company investments. Having a good foundation of knowledge in this area can make it easier to progress further in your studies.
Business Management can help you in many areas. You learn a variety of things such as finance, entrepreneurship, operations management, and commerce. These are all useful things to have some skill in at the start of your studies.
Can You Do Financial Management Without Maths?
Yes, you can do Financial Management without Maths. Some institutions will allow you to study Financial Management courses without Maths. However, you do need basic maths skills. For this reason, you must have passed your Maths subject, regardless of whether you did Maths or Maths Literacy.
Are Financial Managers In Demand?
Yes, Financial Managers are in demand, and the demand is growing continuously. The finance industry is constantly growing, and so there are more job opportunities in the industry. This means you are more likely to be able to get a job in this field.
How Long Does It Take To Study Financial Management?
This depends on what you study. If you study for a Bachelor’s Degree, it will take you a minimum of four years to complete your qualification. However, if you study for a Diploma, it can take between one and three years depending on where you study.
You can study for a NATED Diploma in Financial Management, which is recognised as a formal qualification in South Africa. NATED courses take three years to complete.
This consists of 18 months of theory studies. There are three levels of theory studies, and each level takes six months to complete. This is then followed by 18 months of work experience, which counts as the practical side of the NATED qualification.
You will be placed in a job for work experience through iWIL, a free placement service. Your hours and progress will be tracked and then submitted for review before you can receive your Diploma.
Where Can I Study NATED Financial Management?
There are many reputable colleges that offer NATED Financial Management courses through distance learning, such as:
Can I Study Financial Management Without Matric?
Yes, you can study Financial Management without Matric. Colleges like Skills Academy offer provider programmes in Financial Management. Provider programmes at Skills Academy are open-access, meaning you only have to meet two requirements to be able to apply:
- You must be over the age of 16
- You must be able to understand, read and write in English
What Does A Financial Manager Earn In South Africa?
The pay scale of a Financial Manager in South Africa is: R 21 750 – R 82 500 per month. The average salary for a Financial Manager in South Africa is currently R 52 707 per month.
What Have We Learned?
- There are no specific subject requirements to study Financial Management
- You can study Financial Management without Maths, as long as you passed your Maths subject
- Financial Managers are in demand
- It can take between one and four years to study for a Financial Management qualification
- You can complete a NATED Diploma in Financial Management in three years
- There are many reputable distance learning colleges that offer NATED Financial Management courses
- You can study Financial Management without Matric
Author: Chloe Bydawell
Editor: Razeen Dollie
Date: July 6, 2022