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Glimpse of the problems of my students in Finance

April 3 2011 – 3:29 pm

I had been teaching as an adjunct faculty in various business schools and universities of Karachi. It was since 2006 when I first taught in University of Karachi I had been teaching advance finance & investment courses in BIZTEK, Department of Commerce UoK, SZABIST & CBM till 2010. I found majority of my students talented and having great IQ to meet the challenges of the field and courses. But certainly there are some issues to be discussed.

I had never been a teacher who is disconnected from the real business and markets. I have been working as an executive director in various companies for last three years. I started working for top banks & companies in Pakistan the Middle East in the beginning of my career. In my view teaching finance & investment is not merely teaching but my passion that I can not meet without being in the market as a professional.

I always have been receiving great feedback from students in Pakistan over my way of teaching but equally I understand that many felt difficult to absorb the concepts I used to deliver in the classroom. It was my impact factor that I was connected with practical finance and investment over the years. And it was the problem of students that they have not been so familiar with the real issues in Investment and Finance, keeping some student in exception.

While teaching BBA, BS, MBA, & M.Com I never had any feeling that my students of advance level courses are not capable. They are more talented and sharpest than any other student in the world. They are smart enough to grab what is going on in the markets and the field of investment. But the role their business schools have been playing in basic finance and accounting course is absolutely poorest. The business schools in Karachi are solely responsible for problems in Finance and Investment studies in last ten years that they have hardly seen as a problem.

The problem starts when a business school hires instructor level teachers for basic accounting courses on Rs 15,000 to Rs 20,000. These teachers are sometimes fresh masters or those who are unable to find a profession that can pay them Rs.20,000. Actually this is the point in student’s life when he needs the best teacher that can make his basics. But they got their minds in the hand of mindless.

In majority of business schools I had never found a charted accountant, management accountant or an accounting researcher leading faculty of accounting. May be he would not be cost friendly for business schools. Even hardly they know the concept of separating faculty of accounting from finance. They merely take it as a liability by inducting massive force of teachers in marketing and other disciplines of management sciences. Even the quality of majority of these folks in marketing and management is another grey area.

The student who is ruined by the lesser experience or incapable teachers on basic finance and accounting courses then reaches advance finance courses where he find a massive difficulty if a teacher comes from a practical background. This is even not a case while we see finance courses for BBA or MBA but at MS PhD level the case is same or even worst as per the challenge of finance and accounting research.

Many times while I used to teach in a classroom about Investment, Corporate Finance or Security Analysis I find students not known to the concepts of variance accounting, resource consumption accounting or even advance concepts in financial accounting. Yes there were few students who were good at it because of their background that they had developed at their own. But where these business schools have to work for the betterment of students they were so careless.

In majority of the cases I hardly find any business school focusing on International Accounting Standard or International Auditing Standards. They were merely interested in teaching primary level accounting to the senior BBA students. It was all because the teacher they bought from market to teach basic level courses had nothing in his arsenal of knowledge about these disciplines. Even the interviewers who interview those teachers hardly know the essence of investment and finance in real meanings.

It is another dilemma that teachers teach same topics in Basic Finance, Financial Management, Corporate Finance, Portfolio Management, Security Analysis and Investment Management. Everything is restricted to NPV, IRR & Capital Budgeting. The operational and research issues in finance and investment stand no where.

The bottom line is that you can not make an impact on advance finance and investment courses once the basic level courses are being handled by inexperience and dull kind of teaching. The student some how are not responsible for it because the constraints business schools plants in their knowledge must deliver in poor results and skills.

The students are scary of joining advance finance, accounting and investment courses just because they are not being prepared for the same. They are just exposed to the bigger challenge whereby their basics were not properly worked out. It is the scenario whereby they have all the instincts to be successful in the field of finance & investments but their career development in Investment and Finance is completely neglected when they first enters the business school.

I humbly request the management of business schools to take actions in this regard. Investment and Finance shall be the best career for current decade and even forever. The challenges over investment and financial management are massive for the countries like Pakistan and if we neglect our upcoming professionals in this regard then we shall have no excuse if see our economy going worst. It is all about converting your talented and sharpest students to the keen and top class professionals.

I admire all my students who created the best environment of learning in my classrooms for last five years. Many of those were superb as scholars and they have to support those who struggle in understanding as this is the way to promote knowledge. I endorse that many of my students were the best regardless of their constraints and problems that actually were not the symbol of their own will rather because of the system of education they brought up in. I suggest students to focus financial and investment research as it is the way forward. The best they will train themselves the best they can get in their careers and life.

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Mr. Omer

Mr. Omer [1982 born] started  his professional career as a commercial / investment banker after achieving Gold Medal in Finance at master level from University of Karachi in 2006.

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