At the undergraduate level, the Bachelor of Commerce is the most popular course for Finance students. It is not easy to find a well-paid enough job with just a bachelor’s degree which is why one must look into expanding their education. B.Com is a highly flexible degree in the sense that it allows students to explore careers in Management, BFSI, and professional courses like CA, CS, or CFA after graduation.
Universities and institutes in India provide B.Com degrees and many other course options such as MBA and M.Com. Courses in other fields could also be explored here. The sky is the limit in regards to the possible career options after a B.Com degree.
Elaborated below are some career choices a B.Com student can look into studying.
Career Options After A B.Com Degree
Chartered Financial Analyst: A Chartered Financial Analyst or CFA for short is an internationally recognized finance course. CFA is an advanced level study into risk management, equities, investments, etc. Students are taught how to analyze an organization’s financial statements and find out ways to elevate the financial position. It is a postgraduate-level certification that is granted by the CFA Institute. The CFA course has a total of ten subjects that are completed over three levels. At the end of each level, there is an examination that one must pass to progress further. Admissions to the CFA course take place through merit and the applicant’s graduation aggregate score and work experience are considered. For a maximum duration of four years, the CFA course enables individuals to work as Chartered Financial Analysts. The average salary for a Chartered Financial Analyst is INR 10,00,000 LPA.
Chartered Accountancy: One of the most popular career options after a Bachelor of Commerce degree is a Chartered Accountancy. Individuals who complete this course and the examinations successfully are given the title of a Chartered Accountant. Individuals learn different aspects of Accountancy such as Taxation, Auditing and more. They will also work at filling out taxes, managing the financial statements, looking into possible investments and also reviewing the financial documents. The eligibility criteria for the CA course is only a class 12th and not a bachelor’s degree. Like CFA, CA also has three levels, Foundation, Intermediate and Final. There is also a period of internship or articleship where one is working at a firm to gain work experience. Upon completing the title of a CA, one would be able to work with companies and also individuals. For this intensive course, one can expect to earn around INR 8,04,821 LPA.
Company Secretary: Another professional finance course that is quite popular is a Company Secretary. The three-year long course teaches the basics of advanced tax reporting and also keeping financial records. This role is much more than a standard Finance job profile. The Company Secretary also takes part in strategising with upper management and also ensures that all actions are as per local and national guidelines. The Institute of Company Secretaries of India awards CS certificates to students who are able to complete all the three stages of the course, Foundation, Executive and Professional. Like the CA course, for CS, one must have completed their class 12th examinations with at least a 50% aggregate score. Upon completing the course, individuals would be able to work with organizations and earn around INR 6,96,265 LPA.
MBA: In terms of courses, the Master of Business Administration is a popular course offered at top business schools in Mumbai. These PGDM colleges in Mumbai and across India offer several concentrations to choose such as Finance, Marketing, Human Resources etc. This course enables candidates to work at top management levels in the chosen specialisation. Admissions take place on the basis of a national, state or university level entrance examination like CAT, SNAP, XAT, MAT etc. Thereafter, the PGDM colleges in Maharashtra hold a round of group discussions and personal interviews in order to secure a seat in the course. The MBA course holds both theory classes and also grooming sessions to prepare the students for the corporate world. Besides full-time working positions, MBA graduates can also choose to offer their services as business consultants and solve specific issues within any organization.
M.Com: Besides the course offerings at the MBA colleges in Mumbai, there is also the Master of Commerce degree. This degree expands on the teachings of the B.Com degree with more advanced topics like taxation, insurance, accounting, and business management. Students who wish to venture into teaching would find this degree appropriate. One would, however, have to also earn a B.Ed degree and attempt a national level examination for the same. Alternatively, many M.Com holders also find gainful employment in the BFSI sector in different job profiles. Some such profiles are Accountant, Finance Manager, and Account Executive. This is a two-year long programme that conducts both merit-based and entrance examination based admissions.
High Paying Jobs After B.Com
Admittedly, in any field, there are certain jobs that pay higher than other jobs. These jobs are not only competitive but also demanding. For the commerce field, stated below are some high paying jobs along with the average salary one can work at after a B.Com degree. It must be noted that this list is not exhaustive and there are more Finance jobs with higher salaries.
- Chartered Accountant: INR 8,04,821 LPA
- Investment Banking: INR 9,25,104 LPA
- Chartered Financial Analyst: INR 6,80,834 LPA
- Certified Public Accountant: INR 6,96,478 LPA
- Cost Accountant: INR 5,95,172 LPA
- Marketing Manager: INR 6,77,283 LPA
- Company Secretary: INR 6,00,000 LPA
- Cost Management Accountant: INR INR 8,10,000 LPA
- Personal Financial Advisor: INR 3,05,209 LPA
Competitive Examinations After B.Com
A bachelor’s degree holder can also look to preparing for and attempting a competitive examination. There are several examinations, in India, that allows students to work in Government jobs including in the Military and Army in different capacities. Thousands of students take these examinations every year and applicants need to clear up several rounds before they get selected for the job profiles. Stated below are some popular competitive examinations in India for B.Com students.
- UPSC Civil Services Examination
- National Defence Academy Examination
- SSC Staff Selection Commission
- Indian Economic Service Examination
- Food Corporation of India Examination
- Combined Defense Services Examination
The list above states some of the most popular jobs, higher education, and professional courses for a B.Com graduate. To choose one career option, one must be involved in introspection about their interests and career plans. Research about how much time each course will require, difficulty level, career graph, and salary chart before choosing an option.
