Best Career Options After B.Com: Bachelors in commerce is one of the most popular undergraduate courses that students opt after completing their 10+2 exams. Students from different streams like science and arts also choose B.Com after completing their 12th board exams. B.Com is an excellent course for improving unique skills and abilities in the commerce field but is not enough to get a highly paid job.
The job market is becoming competitive each day, and getting a job has become harder than before. Previously, a graduate was able to get a highly paid job easily but considering today’s competition it is somewhat impossible. Therefore, students to increase their chances in the job market prefer to pursue higher studies.
Get to Know More about other types of Course Details in Stream wise, and Category wise
There are many career options available to choose after completing an undergraduate course. With every company adopting new advanced ways to do business, new courses with advanced technological subjects are arising, giving the students a wide range of options to choose from.
Before choosing a course, the candidate should always consider his/her skills and select a course according to it.
Every candidate faces some pressure after their 10+2 exams while selecting a course to pursue their career with, so in this article, we will discuss some of the best course choices after B.Com in order to ease their burden a little bit.
Best Career Options After B.Com
List of Best Career Options After B.Com
- Chartered Accountant (CA)
- Masters of Commerce (M.Com)
- Master of Business Administration (MBA)
- Certified Management Accountant (CMA)
- Chartered Financial Analyst (CFA)
- US Certified Public Accountant (CPA)
- Financial Risk Manager (FRM)
- Business Accounting and Taxation
Chartered Accountant (CA)
Chartered Accountant is a designation granted to accounting professionals by a statutory body. The statutory body certifies those professionals who have become experts in matters in relation to taxation and accounting of a business. Professionals with CA certification are experts in financial activities like file tax returns, auditing financial statements, maintaining records of investments and checking financial reports of different companies.
Students need to clear three exams to be designated as a CA. The three exams are CPT, IPCC and Final. As the candidate has completed graduation, there is no need of giving the CPT exams. IPCC exam consists of two groups, students after clearing one group of IPCC are required to do articleship in a Chartered accountant firm for 2 ½ years, then he/she can clear the other group. Similarly, the final exam also consists of two groups, after completing two groups of final exams the candidate is designated as a CA.
- Eligibility: Graduation and work experience for 2.5 years
- Duration: 3 years
- Average Annual Salary: Rs 15 Lakhs
Masters of Commerce (M.Com)
Masters of Commerce is a postgraduate course for two years pursued by only those students who have completed their B.Com. As masters of commerce is a specialized course, only the students with a B.Com degree can take admission into this course.
This postgraduate course makes the students skillful in fields like banking, insurance, accounting and commerce sectors. The candidate will learn about different subjects such as Accounting, Business, Finance, Economics, Statistics, taxation, Marketing and Management. The main objective of this course is to make the students experts in every field of commerce.
Colleges shortlist students on the basis of entrance exams conducted by particular colleges or through a merit-based system.
- Eligibility: The student must be a student
- Duration: 2 Years
- Average Annual Salary: Rs 4.5 Lakhs
Master of Business Administration (MBA)
The Master of Business Administration has gained popularity in recent years. Corporates are hiring MBA graduates like never before which has increased the popularity of this course among the students. The increased job opportunity after completion of an MBA has proved that this course is one of the best choices to pursue after graduation.
Students from any stream can pursue MBA for a successful career. This course improves the management skills of the students so that they can deal with any corporate challenge. Students are required to choose a specialization in this course considering their skills. There is a wide range of specializations to choose from, such as Finance, Marketing, Human Resource, Operations, Information Technology, etc.
MBA graduates from top colleges like IIMs get placed in very good companies with an excellent pay scale, but students graduating from ordinary colleges do not get job offers from big multinational companies. For getting admission into an MBA, course candidates are required to give an entrance exam such as CAT, XAT, CMAT, etc.
- Eligibility: The student must have passed the Bachelor’s degree with a minimum of 50% mark.
- Duration: 2 Years
- Average Annual Salary: Rs 8 Lakhs
Certified Management Accountant (CMA)
Certified Management Accountant is an accounting designation given to those professionals who are experts in financial accounting and strategic management. The CMA certificate signifies that the professional who is awarded this designation possesses knowledge and skills in the area of financial planning, analysis, decision, control and support. Many multinational companies hire CMA’s with huge pay scales.
CMA is offered by the Institute of Management Accountants, USA. Students who are interested in being certified as CMA are required to clear two exams. This is a tough course to pursue a career, but if the students with their hard work can get the certificate of CMA, then there will be a shower of multinational companies offering a job.
- Eligibility: The student must be a graduate and must have 2 years of work experience
- Duration: 2 Years
- Average Annual Salary: Rs 7 Lakhs
Chartered Financial Analyst (CFA)
The CFA certificate is one of the most respected and recognized designations in the finance sector around the world. The CFA Institute gives this designation to the candidates who will pass the three exams conducted by them. The exams are based upon subjects like accounting, economics, ethics, money management and security analysis.
The student with a CFA certificate will be known as a charter holder. The exams of CFA are considered to be one of the toughest exams in the finance sector with a pass percentage of only 50%. The charter holders are hired by many multinational companies to take their advice in different investments they made and to help them in improving the financial performance of the business. With a CFA certificate, a student can get a job anywhere in the world.
- Eligibility: The candidate must be a graduate and must have four years of job experience
- Duration: 2 Years and 6 Months
- Average Annual Salary: Rs 12 Lakhs
US Certified Public Accountant (CPA)
US CPA is the highest standard of designation in the field of accounting and finance. The US CPA qualification is similar to the CA qualification in India, and the only difference is that students in the USA, study on different accounting concepts which are not similar to the accounting concepts of India. A student with a US CPA designation have knowledge on the US Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), US Generally Accepted Accounting Standards (GAAS) and US Federal Taxation and Business laws.
The students have to qualify in four exams to get designated as a US CPA. The exams of the US CPA are conducted by the world’s largest accounting body American Institute of Certified Public Accountancy (AICPA).
- Eligibility: The student must be a graduate
- Duration: 2 Years
- Average Annual Salary: Rs 16 Lakhs
Financial Risk Manager (FRM)
FRM is a designation for financial professionals by the Global Association of Risk Performance. Students who are interested in pursuing their career in financial markets should go for this designation. After passing the two exams of FRM, the students will be experts in handling financial risk and analyzing financial markets.
Students with CFA designation gain the knowledge to analyze and assess risks on different securities in the financial market. CFAs are generally hired in major banks, insurance companies, regulatory agencies, accounting firms and asset management firms.
This designation is recognized globally. Students with this designation can get a job anywhere in the world without facing any difficulties.
- Eligibility: The candidate must have a graduation degree or any higher degree.
- Duration: 9 Months
- Average Annual Salary: Rs 14 lakhs
Business Accounting and Taxation
Students who are interested in the field of taxation should pursue their careers with this course. The course is designed perfectly for the freshers to improve their skills in accounting and taxation. After the completion of this course, students gain knowledge in accounting, taxation, reporting and compliance.
This course educates the students about different concepts and laws of taxation and accounting system of a country so that the students can get hired in companies with good pay scales.
- Eligibility: The candidate must be a graduate or should have a higher degree.
- Duration: 12 weeks
- Average Annual Salary: Rs 4 Lakhs
FAQ’s on Best Career Options After B.Com
What career should a candidate select after B.Com?
A student should select a career considering his/her skills, strengths and weakness so that he/she will not face any difficulty during pursuing a particular career.
What is the duration of postgraduate degrees?
The duration of the postgraduate degree is usually two years, but professional courses can take more than two years.