I am a fresh graduate of Economics with 2.1 honours. i having been having problem in choosing the professional examination to write at first. i.e between CIS or ICAN due to low money with me, i will like to know the one that is more lucrative in Nigeria that is between a chartered stockbroker or chartered accountant which one pays more.
ADVICE IS NEEDED

Go for ICAN.

Ican my broda, wen u workin do cis

AjanleKoko:

Go for ICAN.

fryo4life:

I am a fresh graduate of Economics with 2.1 honours. i having been having problem in choosing the professional examination to write at first. i.e between CIS or ICAN due to low money with me,  i will like to know the one that is more lucrative in Nigeria that is between  a chartered stockbroker or chartered accountant which one pays more.
      ADVICE IS NEEDED

ednut1:

Ican my broda, wen u workin do cis

AjanleKoko:

Go for ICAN.

Hi people, are the above really true? I thought analysts earned more than accountants. Remember, CIS is a mini CFA, which gives a huge earning muscle. Is ICAN better because of the wider opportunities it affords the holder when compared to CIS?

tanimola22:


Hi people, are the above really true? I thought analysts earned more than accountants. Remember, CIS is a mini CFA, which gives a huge earning muscle. Is ICAN better because of the wider opportunities it affords the holder when compared to CIS?

Being a chartered accountant provides you a much wider pool of opportunities.

Stockbrokers don't necessarily work in investment banks in Nigeria. Also, we don't have 'investment banks' in the real sense of it here, what we have are asset management and fund management firms, pension fund administrators, stockbroking shops, etc.
Most banks are not functioning as 'investment banks' in the Western sense. Rather they have specialist desks that deal with investment in various sectors. Usually, they only provide the funding, and the deal is structured by one of the smaller specialized shops, like ARM, Kakawa, FSDH, etc.

It's the so-called 'universal banking' that killed off IB in Nigeria; now all banks are acting as FMCGs, with their focus fully fixed on retail. I guess for the shareholders, retail carries less risk and the aggregates are bigger for them. Though, so much time and energy is wasted on 'marketing', chasing deposits all over the place.

Hello,
It is a matter of Vision and what you will enjoy doing. CIS is for Stockbroker while ICAN is for accountant. Which one will you enjoy doing. As an economist i know you did a lot of Finance courses. As for me a graduate of Banking and Finance, I have passion for Stockbroking and am preparing for CIS. So what is your passion about?

nnana4top:

Hello,
It is a matter of Vision and what you will enjoy doing. CIS is for Stockbroker while ICAN is for accountant. Which one will you enjoy doing. As an economist i know you did a lot of Finance courses. As for me a graduate of Banking and Finance, I have passion for Stockbroking and am preparing for CIS. So what is your passion about?

Well said.

thanks for reply. i am more passionate towards being a stockbroker. but my concern about cis is in the area of employability. as most stockbrokering firm are not employing stockbroker currently due to the stock exchange market crashes which has affect their business.

Start with ICAN. It affords you a wider spectrum. Few people write CIS first, most CIS holders I know are also Chartered Accountants, who wrote CIS after their ICAN qualification.

My brother wrote his ICAN first, got a job in an Investment banking group, later did CIS and moved to their stockbroking unit. Although he is an FCA today, he is today a career stockbroker first before an Accountant, using his CIS more than ICAN certificate, and now CEO of that stockbroking subsidiary.

Also, as fresh graduate, ICAN is a better route to start professional qualifications. Without some practical knowledge, some things in CIS may sound greek to you, and the syllabus is also more loaded than ICAN. But after going thru ICAN, you would have been refined and positioned to sit for other Finance professional exams and gained more experience in handling them. And, I personally think CIS is tougher than ICAN, and past experience with a professional exam will lessen it.

Dont forget again that with ICAN, the opportunities are also wider.

Hi Nairalander

My company magnificent consults will be training accountants or intending accountants Peachtree Accounting by Sage between 29th August and 13th September 2011 only. for as low as N5000 / participants

We are trained professional with professional qualification and experience spanning almost 10years. Trainers are member of The Institute of Chartered Accountants of Nigeria and Holds an MBA-Finance from reputable Nigerian Universities

We will focus on the following category of Participants
1. Undergraduates, Fresh Graduates and NYSC
2. Corporate Participants (Organisation / Companies)
3. Working Class Individuals - Beginers
4. Working Class Individuals - Advanced Training

If you're interested, we will send our Total package if you send a text to: 08032897801 or 07028313882 stating:
Your Category, your e.mail, your phone number & your Location (your name is not mandatory)
Training centers will be at Surulere and Isolo Lagos state
Expect our reply soonest

hi i am having almost d same problem.i am in d final stage of c.i.s i have passed one paper but remaining three papers but d problem is dat d exams is just too expensive i calculated the money i need to complete d exams and it is about one hundred and twenty thousand.right now i dont have a job and i am scared dat even after spendin all this money employment may not come easy due to d market crash.i intend starting ican becos it would be cheaper.what do u advice.i luv stockbroking but there is no money in it again.

@ suggary why dont you finish the cis first then go for ican, i believe you should get a lot of exemptions from ican if you have cis also calculate the cost of starting ican from whichever level depending on whether you pass all at one sitting or you have to write some papers you might fail. The key in your own case is focus dnt be running round trying to do everything at once.