There are no subjects that are specifically required for you to be able to study a Financial Management Course. There are subjects that are recommended, such as:
- Accounting
- Economics
- Business Studies
However, these are suggestions, and are not compulsory.
Accounting is a great subject to have for Financial Management so that you start with a better understanding of what you are analysing to make financial projections. Financial projections is one of the major duties of a Financial Manager.
Economics is a great subject to have so that you can begin your studies with a working knowledge of how to use analytics and statistics to make projections and optimise the business performance.
Business Studies is very useful, as it covers many good topics such as entrepreneurship, operations management, finance, and commerce. These are all helpful topics to have knowledge in for Financial Management.
Can You Do Financial Management Without Maths?
Yes, you can study Financial Management without Maths. You do need basic maths skills to do Financial Management, so you will have to pass your maths subject. However, it does not matter whether you do Maths or Maths Literacy.
Can I Do Financial Management Without Matric?
Yes, you can study Financial Management without Matric. There are many reputable distance learning colleges that offer short courses or provider programmes in Financial Management, such as Skills Academy.
Provider Programmes at Skills Academy are open-access. This means you only have to meet two requirements to apply, which are that you are over the age of 16, and that you can understand, read and write in English.
How Many Years Does It Take To Study Financial Management?
This depends on what Financial Management qualification you choose to study for. If you choose to study for a Bachelor’s Degree, it will take a minimum of four years to complete.
However, if you choose to study for a Diploma, it can take a minimum of one to three years to complete depending on where you choose to study.
You can choose for a National Accredited Technical Education Diploma (NATED) qualification. This course takes three years to complete, and is designed by the Department of Higher Education and Training (DHET) and fully accredited by SAQA (the South African Qualifications Authority).
This means that these qualifications are recognised by educational institutions and potential employers as formal qualifications in South Africa.
Where Can I Study Financial Management In South Africa?
There are many reputable colleges that offer the NATED Financial Management course through distance learning, such as:
Studying a NATED course will take three years. You will complete 18 months of theory study. There are three levels of theory study, and each level takes six months to complete. This is followed by 18 months of work experience, which will then count as the practical side of your Diploma.
You will apply to be placed at a company or business through iWIL, a free placement service. Note that this does not happen automatically, and you may need to wait for a placement. Your work hours and progress will be recorded, and this record will be submitted for review at the end of your 18 months of practical study.
What APS Is Needed For Financial Management?
If you choose to study a NATED course, the only requirement is that you have passed Matric. You can have passed with any passing level. The minimum requirement to pass Matric is APS 14, which means you can apply to study a NATED course with APS 14.
Is Financial Management In Demand?
Yes, Financial Management is highly in demand in South Africa. The finance industry is growing constantly, and so new employees are needed often. This means more job opportunities, and better job stability if you work well.
What Does A Financial Manager Earn In South Africa?
The pay scale for a financial manager in South Africa is: R 21 750 – R 82 500 per month.
What Is The Highest Paid Job In Finance?
In South Africa, the job with the highest salary in finance is a Chief Financial Officer. The pay scale of a Chief Financial Officer in South Africa is R 48 000 – R 166 660 per month. The average salary is currently R 65 000 per month.
What Have We Learned?
- There are no specific subject requirements for Financial Management
- You can do Financial Management without Maths as long as you passed your Maths subject
- You can study Financial Management without Matric
- It can take anywhere between one and four years to study Financial Management depending on what qualification you study for
- Financial Management is in demand
Author: Chloe Bydawell
Editor: Razeen Dollie
Date: July 12, 2022