Bachelor's of Commerce popularly known as B.Com is one of the graduation streams that most commerce students opt for. B.Com is an excellent undergraduate degree course that helps in making a strong foundation in costing, accounts, taxation, and law. Being a Commerce student, there are many options to choose from but the selection must be based upon the interest of the students. The choice should be made on the subjects you loved the most and scored well in them too. Think about the possible career options and that go along with the career goals. There are lucrative professions in various industries such as Banking, Finance, Stock Markets, Insurance, Capital Markets, Financial Planning, Equity Research, Accounting, etc.
After B.Com it is preferable to go for postgraduate courses to grab better jobs. Postgraduate or job oriented academic courses widen the career opportunities when they are further continued after B.Com. Just completing B.Com with a great score will not ensure success unless students think farther and also need to be on edge to excel.
Academic Courses after B.Com
- Master of Commerce - M.Com: After B.com it is very common for students to select a Master’s degree in Commerce. M.Com is a program that focuses on the systematic study of Accounting, Business, Finance, Economics, Statistics, Taxation, Marketing, and Management.M.Com gives an insight into all these fields. It is a 2-year program.
- Shri Ram College of Commerce, New Delhi and Loyola College, Chennai is one of the best colleges for M.Com.
- MBA in Finance: Masters of Business Administration: MBA is very broad, well rounded and is highly sought after degree. MBA carries a lot of weight if you do it in a right city. A good career in MBA depends on the credibility of the institute you are pursuing. There is a lot of networking in MBA and a great way to get into the career like investment banking and private equity. It is a 2-year program and on completion, students can get jobs easily in the financial service sector.
Indian Institute of Management Ahmadabad and Calcutta are top institutes for MBA.
- Master of Finance - M.Fin: Masters in Finance is also referred to as Master of Science in Finance (MS in Finance or MSF). This program can be completed in 12-18 months for those who wish to pursue a quicker option and cost-effective post-graduate degree. This study is focused on specializing in the technical aspect of finance and quantitative methods. This degree has received STEM degree designation.
M.Fin can be pursued from Amity College of Commerce and Finance, Noida and Mulund College of Commerce, Mumbai.
- Masters in Applied Economics: This postgraduate course in Applied Economics is a programme of the department of economics with specializations in areas of finance and management. The Applied Economics course has four semesters. Duration is 2 years.
This course can be pursued from Christ University, Bangalore and Andhra University, Vishakhapatnam.
- Masters in Accountancy: Masters in Accounting is referred in three ways - Master of Accounting (MAc), Master of Professional Accounting (MPA) or Master of Science in Accounting (MSA). Duration of this program is 1-2 years. Accounting is the measurement of an organization’s financial activity. These measurements are used to analyze economic trends and provide vital information to management and investors.
This course can be pursued from GD Goenka University, Gurgaon and Indian Institute of Business Management and Studies (IIBMS), Mumbai.
Professional Courses after B.Com
- Chartered Accountant - CA: CA is the second best course in the world. CA exams are conducted by the Institute of Chartered Accountants of India (ICAI). There are three examinations which are to be cleared over a period of time i.e. CPT, IPCC and Final CA. CA takes 3-5 years as only a few students clear in one go. After B.Com, students can directly appear for IPCC which consists of 2 groups. After clearing 1 group students can register for article ship. After clearing both groups of IPCC and completing article ship students can appear for Final CA. Final CA also has 2 groups and after clearing both students can affix the word CA before their name.
- Company Secretary - CS: CS is about the legal aspect of business and qualitative analysis. There are 3 levels to be cleared- Foundation, Executive, and Final Course. This course is offered by The Institute of Company Secretaries of India (ICSI). Students need to be prepared to suggest the path to the board of directors of the company. Job roles would be Executive Secretary to MD or CEO. The opportunities for CS course have immense potential.
- Institute of Cost and Works Accountants of India - ICWAI: ICWAI is the cost accounting course offered by the Institute of Cost and Works Accountants of India. After completing this course students can further go for M.Phil. Or PhD or can join as Financial Controller, Cost Controller, Chief Internal Auditor or Chief Accountant. There are foundation, intermediate and final courses that need to be cleared to get the certification of ICWAI.
- Certified Public Accountant - CPA: CPA is the standard of competence in the field of Accountancy all across the globe. CPA is a popular path after B.Com for continuing development with many courses. Duration is around 1 year. This course is highly regarded internationally and opens the most career options for accounting and CFO positions. The exam is held by the American Institute of Certified Public Accountants (AICPA) which is the world’s largest accounting body. CPA qualification is similar to Indian CA qualifications. The exam consists of further 4 exams which can be completed within a period of less than a year. Pursuing CPA after CA, M.Com, CS, MBA Finance, and ICWA can raise career to a great extent.
- Certified Management Accountant - CMA: For students who wish to work in top MNC’S or have plans of going global, then this certification will be a right choice. CMA is offered by the Institute of Management Accountants (IMA) the USA. The duration is around 1 year. The content is reviewed by ICMA (Institute of Certified Management Accountants). There are 2 exams to be cleared. CMA results in expertise in financial planning analysis, professional ethics, control, decision and support. Completion of the course makes the students a preferred choice of potential employers.
Accounts Related Courses after B.Com
- ACCA Association of Chartered Certified Accountants - ACCA: This course is one of the world’s leading and fastest growing international accountancy organizations. This qualification helps in a successful career in the fields of accounting, banking, management, consulting and mainly for senior roles. There are 14 exams to be cleared. Duration is 2 years.
- Business Accounting and Taxation - BAT: This course prepares candidates not just for a job but also a career that leads them to become (Ready Account professional). The course gives hands-on-expertise in Accounting and taxation. After completion of the program, students can opt for multiple roles in the field of Accounting and Taxation. Duration of the program is around 1 year.
- Cost Accounting: Cost Accounting course involves the cost, budget an, profitability of various products, services and activities. Common concepts students explore in these courses are- cost management, profit planning, budgeting and pricing, cost variance analysis and managerial accounting systems. The Institute of Cost Accountants of India (ICAI) formerly known as ICWAI (Institute of Cost and Works Accountants of India) is the premier institution of India that offers education and develops the profession of Cost Accountancy in the country. ICWA course is a gateway to becoming a cost management accountant. ICWA course is now named to CMA (Cost Management Accounting). Duration of the course - Foundation program is for 6 months, the Intermediate program is 12 months and practical training for 36 months.
Finance Related Courses
- Chartered Financial Analyst - CFA: Becoming a CFA charter holder is a popular path for more courses after B.Com. There is an exam to be cleared. CFA is a great path for students who wish to become a financial analyst. This profession carries a lot of prestige and a highly regarded designation. It is less expensive than MBA. This study is focused upon portfolio management for students wish to work in equity research. Duration of the course is 2 years.
- Financial Risk Management - FRM: FRM is globally recognized qualification, provided by the Global Association of Risk Professionals (GARP) for risk management professionals who are involved in analysing, controlling, market, operational, assessing potential credit or any other types of risk. Duration is about 2 years
- Financial Modelling: FM is a valuation tool which teaches to work with historical information of companies and analyse the company performance on relevant financial parameters. This course helps to build a career in the fields of Investment banking, equity research, project finance, corporate finance and credit rating. NSE Academy offers Financial Modelling Certification Program. Duration is about 1 year.
Banking Related Courses
- Business Correspondent Courses
- Post Graduate Diploma in Banking (PGDB)
- Certified Bank Manager Program
- Diploma in Banking and Financial Services
Also, there are other courses like Certified Financial Planners and Certificate Course in Project Finance, etc.
Insurance Related Courses
- Risk and Insurance Management
- Property Insurance Course
- Personal Insurance Course
Few Career Options in Commerce after B.Com
Cost and Management Accountancy, Banking, Insurance, Mutual funds, Securities Market, Corporate Communication, Hospital Management, Logistics, Retail Management, Rural Management, Media Studies, Mass Communication, Law, Corporate Law, Finance Management, Human Resource Management, Marketing Management, International Business, Infrastructure Management, Supply chain Management, Market Research, Journalism, Corporate Communication and Teaching.
Job Opportunities after B.Com
CA/CS, Lecturer/Professor, Banker, Government jobs, Legal Advisor/Attorney, Chief Accountant/Chief Internal Auditor, Market Researcher, Insurance, Finance and Tax Consultant, Human Resource, BPO/KPO, Stock Broker, Export-Import Manager, Finance Consultant, Insurance Consultant, CA/ Cost and Work Accountant, Event Manager, Travel Agent/Manager, Lawyer, Market Researcher, Entrepreneur, Hotel Management, Economist, Actuarial Sciences, Advertising roles, Fashion and Administrative job.
B.Com graduates can also opt for a civil service examination. By getting through All India Services they can reach prestigious positions as IAS Officer, IPS Officer, IFS Officer, and IRS Officer.
Opportunities after Academic Courses
After pursuing the courses, students can specialise in a particular field that is of interest to them. Students can also pursue a professional course for best of career and job opportunities after B.Com. After completion students can find jobs in banking, finance, accounting, taxation, insurance, marketing, equity research. A 2 year Master degree course can further groom well in the chosen area. Students can join private and public sector firm as accountants, sales officer, credit/ loan officer, financial analyst, relationship manager, also as a probationary officer in a bank.
Private Sector Employment Areas after B.Com
A commerce graduate will find a job with good salary, various benefits and perks in the employment areas like- Automobile Industry, Banking and Insurance Industry, BPO Industry, Consumer Durable Industry, FMCG Industry, Hospitality Industry, Media Industry, Retail Industry, Telecom Industry, etc. Job roles are as Accounts Manager, Sales Officer Accounts, Assistant Manager, Financial Manager, Accounts Consultant, Company Law Assistant, etc.
Public Sector Employment Areas after B.Com
Students who are looking for a secured job after getting B.Com degree can submit the application for the various examination conducted by UPSC, SSC, Railways, Defence (Army, Navy and Air force). Students can find jobs as Accounts Clerk, Accounts Assistant, Tax Assistant, Excise Officer, Assistant Registrar, District Treasury Officer, Accounts Collector. Students can also submit applications for different banking positions. Areas for opportunities are IT, ITES, BPO, KPO, Conventional openings in public and private organizations, Probationary officer jobs in public sector banks, etc.
Students can take an Ideal Career Test which analyses the interest areas, aptitude, motivation and personality and suggests the best career option. This is a psychometric test and will analyse strength, likings and interest.
B.Com degree is a high-value qualification among all non-professional bachelor degree programs. In today’s competitive world, if students are not satisfied with the career or course pursued, there are many short terms, high value and low investment courses also available. Having a lot of options is like being paralyzed by the choices available; therefore, students need to know the inclination towards certain subjects and areas of interest. Students need great knowledge and a good degree to face the competitive world.
