5 career opportunities after B.Com degree
B.Com, i.e. Bachelor’s degree in Commerce is one of the most coveted graduation courses among students. Doing B.Com not only helps unlock various avenues in the corporate world but also inculcates in one the necessary entrepreneurial skills, along with a wide array of opportunities to build a career in fields of banking, insurance, finance, accounting, and taxation etc.
Through this article, we will provide you with all the necessary information about a B.Com degree and the career avenues you can explore if you already have one.
B.Com course details
One becomes eligible to enrol for B.Com after completing their 12th standard. Students from any stream may apply for the same but some colleges may give preference to students from the commerce stream
The course duration is a total of 3 years
- Course fees
The course fee ranges from INR 10000 – INR 50000, depending upon the college you choose
One is expected to study subjects like accounts, maths, economics, company law etc.
Below are some of the advanced courses that you can pursue after B.Com to add to your skill set in order to get a high-paying job.
- CA – Chartered Accountancy
Chartered Accountancy is known to be one of the most sought-after careers in the commerce field. This certification is awarded by the Institute of Chartered Accountants of India ( ICAI).
A CA is best suited for the role of managing the company’s finances. Preparation of crucial accounting records like the financial statements, project reports, and audit reports are all handled by CAs. Apart from that, functions like securing loans, managing investments etc are also a part of their job. The average salary of a CA is between INR 7-8 lakhs. With a chartered accountancy degree, one can get a job in big corporations like EY, Deloitte etc. or even start their own practice.
- CS – Company Secretary
Another popular career option after B.Com is Company Secretary. This profession is regulated by the Institute of Secretaries of India (ICSI). CS is a key managerial position in the organisation and deals with keeping the company’s records, filing tax returns, advising the board of directors etc.
The annual package of a CS can start from INR 4-10 lakhs. Like CA, a CS is required by every business organisation, whether big or small, private or public to help them deal with tax, legal and investment matters. After clearing your CS, you can be hired either as an independent company secretary or by a CS firm.
- CFA- Chartered Financial Analyst
CFA, also known as the Chartered Financial Analyst, is a globally recognised course in the investment management profession. It is suitable for candidates seeking jobs in profiles such as Portfolio Manager, Research Analyst, Risk Manager, Corporate Financial Analyst, and Investment Banking Analyst.
The annual salary of a CFA generally starts from INR 5-10 lakhs depending upon the job profile. Offered by the CFA Institute, this exam has 3 levels for which a candidate becomes eligible if he is a graduate or has work experience combined with education of at least 4 years.
Top recruiters hiring CFAs are
- Bank of America
- JP Morgan Chase
- Morgan Stanley
- Credit Suisse.
- BAT – Business Accounting and Taxation
The Business Accounting and Taxation course aims to provide knowledge of accounting and taxation principles which equips the candidate with skills required for managing varied departments in an organisation like Sales, Accounting and Taxation.
Being a short duration course it is widely preferred by B.Com graduates and includes learning aspects like SAP, MIS reporting, Tally, Excel, auditing etc. This course can fetch you an annual salary that can range from INR 2-8 lakhs.
- Pursue other higher studies programs
There are various courses you can do after doing your B.Com that will help you gain the necessary skill and expertise in a particular field to land a promising job. Apart from the above mentioned courses, other courses that you can do are:
- Master of Commerce (M Com)
- Bachelor of Education (B Ed)
- Master of Business Administrations (MBA)
- Certified Management Accountant (CMA)
- Certified Public Accounting (CPA)
- Association of Chartered Certified Accountants (ACCA)
- Financial Risk Management (FRM) etc.
Let us take some common questions that a B.Com aspirant may have:
What jobs can I get with a B.Com degree?
With a B.Com degree, one can look for jobs as accountants, office administrators, marketing executives, insurance brokers and other positions in the banking sector. Companies like HDFC, SBI, PwC, LIC etc are among the top hirers.
What is the salary I can get after doing B.Com?
The salary you get can range from INR 10000 to INR 25000, depending on where you work and what you do.
Can I get high paying jobs after doing B.Com?
Yes you can. However the institute from which you choose to graduate also gives you a greater edge in getting a high paying job from the top recruiters. Doing an additional course along with the B.Com degree can further enhance your package.
We can conclude that a B.Com degree opens up a lot of doors of opportunities to build a career in accounting, economics, taxation, business laws, management and insurance. The main advantage a B.Com degree gives you is that you can land a job as soon as you graduate. However, in today’s world if you want a competitive edge you will need to look into other post-graduation and professional certification courses that would also further enhance your skills and salary.
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