Best Certificates for Business Professionals in 2024

Summary

In this video, former McKinsey consultant Heinrich ranks professional certificates for business professionals, excluding university degrees and IT-specific certifications. He categorizes certificates into tiers, with platforms like Udacity and Coursera in the C tier due to their learning value but less employer respect. SCRUM Master and 6 Sigma certifications also fall in C, while language certifications like TOEFL and IELTS are in D. PMP earns an A for its project management relevance. The CASE Score, offering a fair evaluation of academic performance, is another A-tier certification. Heinrich advises that while some certifications can add value, they are not the sole determinant of career success.

Takeaways

• 📚 Professional certificates require significant time and effort to acquire.
• 🚫 The video does not cover regular university degrees, professional certifications for specific jobs, IT-specific certifications, or certifications specific to one sub-area of business.
• 🔝 Certificates from platforms like Udacity or Coursera are placed in the C tier due to their learning value but less recognition by employers.
• 🤝 SCRUM Master certifications are valuable for understanding agile methodologies and are also placed in the C tier.
• 📈 6 Sigma Belts certifications are recognized for process quality and continuous improvement, earning a spot in the C tier.
• 🌐 Language certifications like TOEFL and IELTS, though useful, are considered less impactful for high-paced careers and are in the D tier.
• 🏆 The PMP certification is highly respected and relevant for project management roles, earning an A tier ranking.
• 🎓 CASE Score is a unique certification that provides an objective evaluation of academic performance, respected by several employers and placed in the A tier.
• 📉 Certificates from platforms like Udemy or Skillshare lack proper examination structures and are in the D tier due to less employer trust.
• 💼 The CFI and FMVA certifications signal analytical and Excel skills, valued in finance and beyond, earning a B tier ranking.
• 🏛 Certificates from business schools, especially non-target schools, are similar to online platform certificates and are in the C tier.
• 🏆 The GMAT is considered an A tier certification, as it is a strong indicator of analytical ability, especially with scores above 700.
• 🥇 The CFA certification is placed in the S tier due to its high respect in the business community and the rigor required to complete it.
• 🚀 While certifications can add value, they are not a guarantee for career advancement, especially in high-paced fields like consulting and investment banking.

Q & A

What is the main topic of the video by Heinrich on his channel Firm Learning?

The main topic of the video is to discuss and rank the importance of various professional certificates for business professionals based on Heinrich's experience and audience input.

Why does Heinrich exclude regular university degrees from his discussion on certificates?

Heinrich excludes regular university degrees like bachelor's, master's, and MBA because they are not what he considers as certificates in the context of this video.

What does Heinrich think about certifications from platforms like Udacity or Coursera?

Heinrich places these types of certificates in the C tier, acknowledging that they can be helpful for learning but may not be highly respected by employers in terms of career advancement.

What is the SCRUM Master certification and why does Heinrich rank it in the C tier?

The SCRUM Master certification is for a role in the agile methodology, especially in software development. Heinrich ranks it in the C tier because it's a valuable skill but may not significantly advance one's career on its own.

What are 6 Sigma Belts certifications and why does Heinrich consider them in the C tier?

6 Sigma Belts certifications are about process quality and continuous improvement, starting from a white belt to a master belt. They are in the C tier because they are well-known and respected but may not alone make a huge impact on one's career.

Why does Heinrich place language certifications like TOEFL and IELTS in the D tier?

Heinrich places them in the D tier because while they can prove language proficiency, they are often assumed in high-paced careers like consulting, and high scores may not be a significant differentiator.

What is the PMP certification and why is it considered in the A tier by Heinrich?

The PMP (Project Management Professional) certification proves project management skills and is in the A tier because it is well-known, respected, and relevant to almost every modern business role.

What is the CASE Score and why is it in the A tier according to Heinrich?

The CASE Score is a certification program that provides a fair and objective evaluation of university degrees. It is in the A tier because it is respected by several employers and can provide a unique advantage in the job application process.

Why does Heinrich rank CFI's FMVA certification in the B tier?

The FMVA (Financial Modeling and Valuation) certification is in the B tier because it shows analytical, Excel, and data analysis skills, which are valuable and recognized beyond the finance industry.

What are Heinrich's thoughts on certificates from online learning platforms like Udemy or Skillshare?

Heinrich ranks them in the D tier because, despite the potential for learning, they often lack proper examination structures and may not be respected in the employer market.

How does Heinrich view the GMAT and why does he place it in the A tier?

Heinrich views the GMAT as a strong indicator of analytical ability and intellectual aptitude, especially for advanced business degrees. A high GMAT score can impress employers and help in getting job interviews.

Why is the CFA certification considered the highest tier (S tier) by Heinrich?

The CFA (Chartered Financial Analyst) certification is in the S tier because it is very well respected, demonstrates strong finance and analytical skills, and has high failure rates indicating its rigor.

What is Heinrich's final advice on the necessity of certifications for career advancement?

Heinrich advises that while some certifications like the GMAT or CFA can be helpful, they are not necessarily needed for career advancement, especially in high-paced careers like consulting or investment banking.