Should I do a course to specialise?
Thread poster: nrdawe2
nrdawe2
Local time: 05:37
Italian to English
+ ...
Jan 20, 2011

Hello everyone.

I am thinking about doing a postgraduate course in finance by distance learning and would really appreciate some advice. My chosen specialisation is finance and financial statements and I have recently done a postgraduate course in financial translation, but it mostly concentrated on accounting and I thought it would be a good idea to deepen my knowledge of finance in general to help me in my job. There are two courses I have found that seem interesting. The first is Introduction to Law and Finance (Individual Professional Course (IPC)) from The Centre for Financial & Management Studies, University of London. This takes 4 months and you get your own tutor and all the materials you need with the course, so there are no hidden costs. It also gives you a basic grounding in the concepts of law, which I think would be very useful. The second course is the Diploma for graduates in finance from the London School of Economics. This course can take anything from 1 to 5 years and from what I have gathered there is less contact with other people on the course and teachers.
Has anyone ever done one of these courses or has thought about doing a specialisation in finance?

Thanks!


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RobinB  Identity Verified
Germany
Local time: 05:37
German to English
In a hurry? Jan 20, 2011

If you're not in an absolute hurry to gain additional qualifications, you may want to wait a few months and see what City University in London has to offer. I understand there are plans there to submit a proposal for a financial translation MA (which would cover a significantly wider range of topics than just financial accounting and reporting).

Bibish wrote: I have recently done a postgraduate course in financial translation


What was this course, and where did you do it?


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Tomás Cano Binder, BA, CT  Identity Verified
Spain
Local time: 05:37
Member (2005)
English to Spanish
+ ...
It is a very good question indeed Jan 20, 2011

If your main market and customers are from a financial world and you have the time and money to do such a long course and Diploma, I think it makes perfect sense in the long run. This Diploma would give you a definite leading edge which can help you attract more interesting customers and raise your rates consistently.

However, I would not do it if your customers belong to a different world and it would mean too much an effort for the expected long-term financial outcome.


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nrdawe2
Local time: 05:37
Italian to English
+ ...
TOPIC STARTER
The course I did Jan 20, 2011

RobinB wrote:

If you're not in an absolute hurry to gain additional qualifications, you may want to wait a few months and see what City University in London has to offer. I understand there are plans there to submit a proposal for a financial translation MA (which would cover a significantly wider range of topics than just financial accounting and reporting).

Bibish wrote: I have recently done a postgraduate course in financial translation


What was this course, and where did you do it?


Hi Robin, thanks for your comments. it was an Italian "master", so actually it was not really a master but more of a postgraduate diploma/certificate. I did it at CTI in Milan, Italy.


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Kuochoe Nikoi  Identity Verified
Ghana
Local time: 03:37
Japanese to English
Question Jan 20, 2011

Do you really need to do a course to specialise? Shouldn't it be possible to get some textbooks (Intro to Finance and all that) and reading materials and work your way through them?

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Tomás Cano Binder, BA, CT  Identity Verified
Spain
Local time: 05:37
Member (2005)
English to Spanish
+ ...
A proper course is much better Jan 20, 2011

TransAfrique wrote:
Do you really need to do a course to specialise? Shouldn't it be possible to get some textbooks (Intro to Finance and all that) and reading materials and work your way through them?

God knows I am the self-taught kind, but very honestly, every time I have done a course instead of learning myself, the outcome was a much better one. I strongly recommend to do proper courses whenever possible.


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nrdawe2
Local time: 05:37
Italian to English
+ ...
TOPIC STARTER
I could do it by myself in theory Jan 20, 2011

TransAfrique wrote:

Do you really need to do a course to specialise? Shouldn't it be possible to get some textbooks (Intro to Finance and all that) and reading materials and work your way through them?


However, I would not have as much motivation as Tomàs pointed out and also I would not gain any proof of all that hard work at the end of it. So, that's one reason why I am looking into doing one.


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RobinB  Identity Verified
Germany
Local time: 05:37
German to English
Time and money Jan 20, 2011

TransAfrique wrote: Do you really need to do a course to specialise? Shouldn't it be possible to get some textbooks (Intro to Finance and all that) and reading materials and work your way through them?


I'd have saved myself at least ten years of reading and working my way through textbooks and other materials if there had been such a thing as a proper financial translation MA course I could do (even though I'd already learnt the fundamentals of accounting, economics, etc. at postgraduate level).

But just reading isn't enough: attending financial training courses (for finance people, not for translators), financial conferences, etc. is also vital, and the cumulative cost of these far outweighs what an MA would cost (one year full-time or two years part-time).

If you think that just "reading your way" into a subject area is going to be sufficient, then I'm afraid you're in for a big shock.


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Williamson  Identity Verified
United Kingdom
Local time: 04:37
Flemish to English
+ ...
Yes Jan 20, 2011

Isn't it better to sit in the front-row, capture the summary of the main points given by the professor, study the material after every class, make exercises and ask questions at the beginning of next class instead of just reading a book? Besides getting a degree in Finance enhances your market-value and opens more doors than just translation.

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Tatty  Identity Verified
Local time: 05:37
Spanish to English
+ ...
Overkill Jan 20, 2011

Actually I can't find the first course you have referred to, I've found the type of course but not the exact one that interests you. But anyway, I would definately go for the first course which lasts 4 months and see what you make of it. It will be challenging. Covering the basics of law would be a big advantage. The second course is far too long and has such beasts as maths and economics as prerequisites.

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nrdawe2
Local time: 05:37
Italian to English
+ ...
TOPIC STARTER
Thanks Jan 27, 2011

Thanks for all your useful comments. Tatty, I also think covering the basics of law would be very useful. I often come across so many legal terms in my translations that, even though law isn't my specialisation, it would be very useful in the long run.

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Claudio LR
Local time: 05:37
Member (2007)
English to Italian
+ ...
There is no good financial translation training... Feb 18, 2011

Hi Biblish,

I have just discovered this thread and thought I could give my 2 cents. As Robin pointed out, there is no such thing as good financial translation training. Most financial degrees do not have a financial translation course and when they do it’s just 1 or 2 classes (for example at ETI in Geneva, I thought financial translation EN IT there last year, it’s just 2 semesters, 28 hours each). Those masters thought in Italy are not worth much. The one you did is too short and too focused on accounting. The one in Genova is far from giving a proper training (I have tested people who had done it and they didn’t seem to have learned much…), it seems more focused on linguistics than on finance.
A good financial translation course should last at least 3 years and be focused exclusively on financial translation (and taught by very competent people).
For translators into English an excellent training is the CFA program, but to take the exams and get the degree you need to be employed by a financial institution. I had been studying it when working for an asset management company some 10 years ago, but then I stopped when I left and devoted myself to translation. But I learned a lot.
As for degrees in finance, they are not ideal for a translator, as they generally focus a lot on quantitative stuff, especially if postgraduate, so you really need to like maths, and what’s more you don’t really need all those formulas and theorems in financial translations. I would say it’s an excellent marketing tool however. I had envisaged a degree in finance, but then gave it up the idea as I was receiving too many translations. But please note, though you probably know, a degree in finance has not much to do with a degree in economics (except maybe during the first year). A degree in economics or in management is definitely not enough (most people, who are not specialists themselves, tend to believe that if you have a degree in economics you must be an excellent financial translator…).
However, the point is really: how much translations you are getting now and at what rates. If you constantly work at full capacity and have rates that are far higher that the average you se on this website (http://search.proz.com/employers/rates), then stopping everything to take a degree might not be the best thing to do (that’s my situation…). If you work irregularly and if your rates tend to be close to those I mentioned, then it’s definitely worth it. Also choose a University with a very good reputation. If you tell an asset manager you have done a certificate at CTI nobody will know what it is. If you have an degree in finance from a prestigious university, any investment professional will know what you are offering them…


[Modificato alle 2011-02-18 21:19 GMT]


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