Finance is a much-loved subject area for students after completing class 12th studies. At the bachelor’s level, more commerce students opt to pursue a Bachelor of Commerce or B.Com degree. The three-year-long programme, however, is must more than seems the eye. There are several certification courses, postgraduate degrees one can choose after graduation.
B.Com degree is offered at most universities and colleges in India such as in BEST. Some of the best B.Com colleges in Bangalore also offer training or coaching sessions to take the CA, CS, CFA, and other certification examinations.
Elaborated below are some career options a B.Com student can possibly look into after completing their degree.
Career Options After B.Com Degree
M.Com: The first and most obvious choice after completing a B.Com degree is to opt for the Master of Commerce degree. The two-year-long postgraduate programme expands on the subjects learned at the bachelor’s level. Students can specialize in commerce subjects such as Accounting, Business Law, Taxation, Banking, and Finance, etc. M.Com graduates can find jobs in finance departments of organizations and also in the BFSI sector. Alternatively, after taking up a competitive examination, M.Com students can venture into academia and teach students in Commerce and Finance. On average, across all experience levels, M.Com students earn around INR 3,90,000 LPA.
Chartered Accountancy: CA or Chartered Accountancy is a specialized Finance course. Besides M.Com, opting for Chartered Accountancy is another popular choice for Finance and Commerce students. To start studying CA, one does not have to have finished their bachelor’s degree, a high school completion certificate is enough. There are three stages to the course, CPT, IPCC, and then the CA Finals. All three stages that a total of 2 to 3 years which also includes a mandatory internship period. Some of the commerce colleges in Bangalore offer CA entrance training as well. A Chartered Accountant is without a doubt one of the most well-paid career options that enable students to work in national and international organizations as well. In India, CAs make an average pay of INR 8,07,822 – 15,00,000 initially.
Company Secretary: Other than a Chartered Accountant, another of the most coveted Commerce jobs is a Company Secretary. A Company Secretary chiefly handles company tax return papers and provides advice for optimum financial health. They also ensure that all the necessary rules and regulations are being followed. To work as a CS, one must complete a course which is of three levels, Foundation, Executive and Professional. It is also a three-year-long programme. Like the CA, the minimum eligibility criteria for CS is also class 12th in any stream. The average salary for CS is in the same range as the previously mentioned jobs, INR 6,20,000 – 10,00,000.
Chartered Financial Analyst: Chartered Financial Analyst is a specialized program that is meant for individuals in Finance. It typically requires candidates to have work experience at the time of admission. At the end of the three years, students will have passed three levels and required examinations. The professional course will test students on a wide range of subjects such as Statistics, Economics, Financial Analysis, Security Analysis, Portfolio Management, etc. CFA job position is available at some of the top organizations in the world like JP Morgan etc. While working here, one can earn an average salary of INR 10 – 15 LPA.
Certified Management Accountant: Certified Financial Management or CMA is a professional certification given to Management Accountants and other Finance individuals. This course enables CMA to explain the ‘why’ behind the numbers and not just the ‘what’ and ‘how’. For people who are already working in the field can enroll in a CMA course to unlock more earning potential. The Certified Financial Management is a two-part course covering topics like Cost Management, Internal Controls, External Financial Reporting Decisions, Risk Management, Corporate Finance, Financial Statement Analysis, etc. An average CMA earns INR 7 – 9 LPA in India.
Certified Financial Planner: Another popular Finance certification is that of a Certified Financial Planner. This is a comparatively shorter course than the others mentioned in the list above. However, the course is just as demanding and rigorous. The course has five exams and six modules that have 20% weight each. All students who have completed their class 12th examinations can apply to this course. Alternatively, individuals who have cleared CA, CFA CS, LLB, Ph.D., and other competitive examinations may also apply. At the end of the course, the CFA is able to analyze and provide guidance to clients regarding their finances. In doing so, they will earn INR 8 – 11 LPA.
MBA: Probably the most popular postgraduate course across all courses is an MBA or Master of Business Administration. The MBA allows students to choose an area of specialization such as Finance, Marketing, Human Resource Management, Logistics Management, etc. Admissions are through a national-level entrance test like CAT or MAT. This is followed by a round of group discussion and personal interviews. MBA graduates are able to work in lower to mid-level management in companies across India and internationally. The average salary for MBA students will depend on the specialization chosen. The average salary, however, is around INR 8,00,000 LPA.
B.Ed.: To start teaching in academia, is a dream for many B.Com students. In order to do so, in India, one must have the minimum qualification of B.Ed. It is a two-year-long postgraduate course that will teach the basics of teaching any subject to students who have completed their bachelor’s degree. Admissions take place through both merit basis and entrance examinations at both national, state, and university levels. B.Ed degree holders can work in both private and public schools on a wide-ranging salary scale. On average, teachers with B.Ed degrees can earn INR 4,54,000 – 6,00,000.
Competitive Examinations: If one wishes to work in public sector jobs, one would have to sit for a competitive examination. There are many competitive exams but chief among them are the UPSC, SSC, IBPS PO, CDS, NDA, FCI, etc. Each examination will open up different jobs and salaries for the individual. Competition is tough for these examinations and there are multiple test rounds including a medical test round, depending on the test one is taking. The salary range will greatly differ from department to department and from job to job.
A B.Com course does not limit a student to just Commerce and Finance jobs. There are many more jobs both in the public and private sectors, certifications, and postgraduate courses one can look into. The average salary for B.Com students is also high enough to enable students to explore more options.