Are Financial Modeling Classes Worth It?

Signing up for training can feel like a big decision, and before putting money down on a class, you want to be sure it’s worth your time. While every quest for knowledge is different, financial modeling classes can provide heaps of benefits that make them worthy of your dollar under the right circumstances. In addition to providing training in marketable skills, financial modeling classes can have surprising benefits such as better financial literacy and healthier financial habits, opportunities to form social connections, and improvements to mental health. 

You can learn financial modeling without participating in a class, but many educational benefits can only be fully realized in a live class. For example, financial modeling courses are one of the only avenues for aspiring new professionals to gain experience ahead of a new finance career. As a result, you’ll need to consider your unique goals as you decide whether a financial modeling class is right for you. 

Weighing the Costs

Your budget may impact which classes you can commit to and may require you to save up for training in advance. Particularly if you plan to incorporate your new skills into a career, financial modeling classes can be costly. Career development programs often cost more than a thousand US dollars, a hefty sum when you’re just starting out in the workforce. Meanwhile, you can generally expect to pay a few hundred dollars for shorter beginner courses.

Whatever type of training you’re looking for, it’s well worth the extra effort to compare classes until you find a course that can provide exactly what you’re looking for. If you’re preparing for a career, earning a financial modeling certificate is a cost-effective way to gain skills and experience when compared to other training formats. These vocational training programs often focus on helping you prepare for a specific career, such as financial analytics, FinTech, or data science. Cheaper classes may be a better option if you’re simply exploring financial modeling for personal enrichment. Affordable amateur classes come in several formats, including short workshops, on-demand courses, and free online seminars. 

Money isn’t the only resource you should consider when weighing the costs of attending a financial modeling class. In addition, think about how much time and energy you realistically have to commit to training. The type of class you sign up for can have a big impact. Typically, in-person courses require additional time and energy for commuting, but if you’re invigorated by face-to-face interaction, this output may be worth it. Since you know you best, identifying what financial modeling class format is best for you is a uniquely personal process. 

Advantages of Learning Financial Modeling in a Live Class

Despite the added costs associated with live training, learning financial modeling in a hands-on environment typically comes with more benefits than downsides. As a result, it’s generally agreed that live classes are the best way to learn financial modeling. 

Instructor Support

If you’ve ever tried to learn a new skill on your own, you’re likely familiar with the bumpy road that results from a lack of guidance. Though self-taught learning is possible, having an instructor to help you through rough patches makes financial modeling easier to learn. By providing you with a transparent path forward, tips you won’t find on the Internet, and encouragement to keep you motivated, instructors help you gain comprehensive knowledge more quickly. 

Some vocational training programs even offer instructor support outside of class. For instance, the certificate courses available through Noble Desktop will pair you up with an expert mentor who can guide you through challenges during one-on-one bonus training sessions.

Personalized Feedback

Accumulating knowledge is an important part of learning, but it isn’t the most influential factor in your growth. What trivia game shows won’t tell you is that becoming practiced at receiving and implementing personalized feedback is just as essential to developing expertise as reading books. While helpful, heeding generalized advice (available online or through on-demand classes) often isn’t enough to produce ongoing growth. In some cases, generalized advice can even lead to overcorrection or problematic attempts to fix mistakes you aren’t making. 

In a live financial modeling class, however, your instructor can offer feedback that’s personalized for you, enabling you to identify unique growth areas and avoid overcorrecting. With enough time and learning, you may eventually be able to recognize these growth areas on your own but by then, you may have missed out on opportunities or even made devastating financial mistakes. 

Access to Software and Resources

Whether because of financial barriers or simply not knowing where to look, accessing the tools you need to start learning financial modeling can be challenging. Fortunately, many financial modeling classes provide complimentary access to financial modeling software like Tableau, Oracle BI, Mosaic, Excel, and Quickbooks. Additionally, live classes can also provide access to supplementary study materials, coaching, and more. 

Insight on the Finance Industry

Whether you’re looking to start a career or simply get a handle on your personal finances, working closely with experts who know the finance industry inside and out can provide you with a head start. You may think it’ll be easy to get to know the finance industry by reading or watching existing content, but the truth is, there’s so much information out there that it’s hard to know where to start and what to trust. In a live class, an experienced instructor can offer concise overviews of important concepts and answer questions when you get lost. You can even ask your instructor for advice about unique financial circumstances or niche interests such as stock market investing.

Social and Mental Health Benefits

Across the world, people of all ages are experiencing the effects of a loneliness epidemic, and for those with pre-existing mental illness, these effects are all the more damaging. Studies have long since established that participating in educational programs improves access to social connections, and what better way to make new friends than exploring a topic you enjoy? By building connections with others who share your goals, you can experience less stress, greater fulfillment, and better self-esteem. 

Additionally, learning financial modeling in a live class will make it easier to move through problems with ease. Regardless of how excited you are to learn, developing a new skill generally comes with challenges, but making friends with shared interests will provide you with opportunities to voice your frustrations in a safe space. With a supportive network of peers around you, you’re less likely to become so discouraged that you quit. 

Practical Training

Watching or reading about financial modeling is vital, but it’s not enough to turn you into a capable financial modeler. Information-based learning can only provide you with theoretical knowledge. In contrast, the hands-on activities you’ll participate in during a live class will help you learn how to perform financial modeling tasks through practice. Rather than finding out when it’s too late, you can get feedback about mistakes in real-time, allowing you to course-correct before you form bad habits. The practical training offered by finance certificate programs can even replace a college degree for some finance careers.

Professional Experience

If you’ve ever wondered how anyone gets a job in a market where you need experience to land an entry-level position, live certificate courses are an easy answer. In addition to helping you develop practical skills, the hands-on training you’ll get in a live certificate course is generally viewed as genuine professional experience by most hiring managers. Some programs even enable you to work directly with real clients, giving you references who can vouch for you. You’ll also likely have the opportunity to work side by side with peers, allowing financial soft skills like communication, leadership, and team-based problem-solving to take shape.

Portfolio Enhancement

These days, building a strong portfolio that displays your expertise for explorers is key to getting hired. Although you can compile a portfolio on your own, it’s easier to create a high-quality end product while participating in a live class. The task-oriented assignments in financial certificate classes are created with your job portfolio in mind and are designed to feature specific skills that hiring managers are looking for. 

Generating material isn’t all these classes are good for, however, and many provide workshops to help you polish your portfolio further. Whether through dedicated portfolio workshops or one-on-one instructor meetings, financial certificate courses provide the feedback you need to improve your portfolio beyond what you’re capable of on your own. If you have self-made portfolio materials from before your class, you can even take this opportunity to transform these materials into professional-grade alloys. 

What to Consider When Choosing A Financial Modeling Class

Not every learning modality is suited to every learning style, and selecting a course is a uniquely personal decision. Consequently, it’s beneficial to figure out what you want from a class before signing up. 

Format and Schedule

Live financial modeling classes are now so popular that they’re available in several formats. In addition to participating in a traditional in-person course, you can receive live online training that enables you to interface with instructors in real-time through video conferencing software like Zoom. It’s generally agreed that live online classes are more effective than asynchronous online training, which relies mainly on pre-recorded study content. When choosing whether to join an in-person or live online course, weigh your travel capability, ability to focus at home, and preference for face-to-face interaction as pros and cons. 

Financial modeling classes are also available to suit a variety of schedules, and you’ll want to consider this in your decision as well. In addition to short beginner-friendly courses, you’ll find a multitude of career-oriented certificate programs that take somewhat longer to complete. These latter courses are generally offered on a part-time or full-time study schedule, allowing you to choose how much time you commit. 

What Skills Do You Need to Know?

Your goals around learning financial modeling are likely substantially different than the next person’s, and luckily, there’s a diverse range of classes catering to every need. However, this bounty of unique classes all treating financial modeling at different depths only makes it all the more crucial that you choose the right course. For instance, if you’re aiming to become a professional Financial Analyst and you join a short class that only covers a few skills, you’re likely to miss out on other vital skills you may need to get a job. In contrast, if you’re learning financial modeling for personal enrichment, you may be wasting money and getting unnecessary career perks if you join a career training certificate. 

To ensure you choose a class you’ll be happy with, pay attention to the curriculum listed on the course web page. Also consider how well the course balances theoretical training with practical skills training. 

Who will find Financial Modeling classes worthwhile?

If you’re interested in gaining a better understanding of financial markets (whether for your own personal benefit or to aid a professional venture) financial modeling is an incredibly useful skill to add to your wheelhouse. Those seeking careers in the finance industry will find especially great value in financial modeling classes. As financial careers grow more competitive, these skills become more relevant for finance professionals who are interested in investing and financial analytics. Financial modeling is also commonly used in a variety of other specialties, including accounting, venture capital, real estate, and corporate development. 

Financial modeling classes may also be useful to you in your personal endeavors, as these skills can help you make your money go further. Adding financial modeling to your list of skills can help you understand your money better, budget more effectively, and grow your wealth over time. 

Additionally, financial modeling classes are beneficial for anyone managing the finances of an organization, whether it’s a business, a nonprofit, or even a temporary fundraiser. On top of giving you the skills necessary to make smart financial decisions, financial modeling classes equip you with tools to communicate financial data, making it easier to pitch ideas and win over stakeholders.

Who probably doesn’t need a financial modeling class?

If you’re an average person who doesn’t plan to chart a financial career, invest regularly, or manage finances for a business, you may not need to shell out funds for a financial modeling class. Chances are, you already keep a budget and have some degree of financial literacy. These skills will enable you to learn basic financial modeling skills at a slower pace, and a slower pace is something you can afford when you don’t have a career riding in the balance. If you’re not looking for career training, short financial modeling classes are a good alternative.

However, financial modeling classes may not be the best solution to getting stumped on an existing project. Since most classes won’t cater to your specific project, they’re not a quick way to solve unique problems. That said, they can provide opportunities to ask questions. Before jumping into a random class, take a moment to check out free resources including online finance forums that allow you to ask questions. 

Can I learn financial modeling on my own?

Perhaps you budget religiously and are itching to go above and beyond to understand your finances better, or maybe you’re simply hoping to answer a question about a modeling project you’re working on. While it’s nearly impossible to learn financial modeling to an expert level for free, there are many free financial modeling resources that make it easier to master the basics and solve niche problems. 

Learn Financial Modeling Skills with Noble Desktop

No matter how deep your curiosity about financial modeling goes, Noble Desktop can help you sate it with top-rated classes exploring a wide range of finance skills, topics, and careers. Whether you sign up for live online training or participate in in-person classes in NYC, you’ll receive hands-on training dedicated to building reliable skills. 

Get started on your beginner financial modeling journey with a straightforward Excel Bootcamp. Oriented toward business professionals, this short course will teach you everything you need to know to use Excel for numerical analysis, database organization, bookkeeping, and more. Rather than simply learning from lectures, you’ll learn by using Excel to perform tasks and since the curriculum was designed for beginners, you don’t need any past experience to shine. When you need it, you’ll always have an expert instructor you can turn to for explanations, encouragement, and advice. 

To take your knowledge to the next level, you can explore advanced Excel skills along with corporate finance in the Financial Modeling Bootcamp. In this course, you’ll build on skills you learned in earlier Excel bootcamps to create a Discounted Cash Flow (DCF) model and a three-statement financial model. Additionally, you’ll have the opportunity to build a model for a real company, giving you professional experience that carries into your career. As you work hands-on with an expert, you’ll also advance your financial literacy, gaining knowledge of concepts like market capitalization, enterprise value, and accrual versus cash accounting. 

If you’re ready to turn your interest in financial modeling into a career, Noble Desktop has a variety of vocational finance courses dedicated to specific career paths. In the Financial Analyst Training Program, you’ll complete hands-on projects to gain job-ready skills including Excel, market forecasting, accounting, valuation, and DCF modeling. Working with an active restaurant company, you’ll build a DCF model and three-statement financial model that you can treat as professional experience in your next job application. Thanks to this class’s beginner-friendly format, you don’t need any prior experience with Excel or finance to gain the skills and experience necessary to succeed in today’s financial analytics job market.