What to do after BCom?
A B.Com or Bachelors in Commerce degree is one of the most popular undergraduate courses in India, the United States, Canada and New Zealand among all commerce aspirants. Though the degree itself focuses on the basic and advanced studies in company laws, accountancy, costs and taxes, it forms a solid and versatile base for a huge number of other courses that you may wish to pursue in the future.
A B.Com degree alone is not enough to suffice for a roaring and high paying career. Hence, it is important to assist it with a professional course to ensure that you can get one of the highest paying jobs available. As stated earlier, you can venture forth into a huge number of different careers and professional courses after a bachelor’s degree in commerce, as well, that spans across a vast sphere. A few of the most popular career options are listed below.
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Masters in Commerce or M.Com
The Master of Commerce or M.Com degree is usually one of the post popular choices after pursuing a B.Com. This course is an extension of the subjects taught at the Bachelor’s level with advanced levels of information. The M.Com is a specialization course where a student can choose from a list of subjects that includes taxation, mathematics, finance, accounting, banking, marketing, economics, statistics and business management among a few others.
Most universities conduct an entrance examination for admission to their Master’s level programmes. The Delhi School of Economics under the University of Delhi definitely offers the best M.Com course in India. The University of Calcutta also offers a good M.Com course. Some other internationally acclaimed universities for an M.Com degree are the University of Auckland in New Zealand and the Victoria Business School in Wellington, New Zealand.
Some of the most popular career choices after M.Com are:
Accountant – Senior and Junior
One of the most widely recognized professions after M.Com is that of a Bookkeeper or an Accountant. You can join an accounting firm as a junior or a senior bookkeeper. While the juniors must keep a tab of all money related records for backup by breaking down asset reports and record accounting services, the senior bookkeepers – must prepare fiscal reports and records by recording cash transactions, income, cost, and finance-related activities. They also mentor their juniors. The normal pay of a senior bookkeeper ranges between Rs 2 lacs and Rs 3 lacs for every annum. Junior bookkeepers earn about Rs 1 lac to Rs 1.5 lac every annum.
An auditor is considerably more qualified than a bookkeeper. Some of the significant functions as an auditor include the arrangement of monetary reports, confirming resources, assets, and liabilities of an organization, survey their consistency with money related guidelines and controls. In India, all the significant banks like HDFC, ICICI, Pivot, Kotak, and IT organizations like Wipro, IBM, TCS employ inward auditors for review. As a fresher, you can acquire effectively Rs 25,000 to Rs 30,000 every month. Progressively experienced auditors can acquire up to Rs 50,000/ – to Rs 100,000 every month.
In the event that you are searching for a less rushed vocation after graduation in business at that point Credit official is the best approach. Credit official’s employment is assessing advanced applications and documentation by affirming their credit value. Credit officials are liable for evaluating the customer’s monetary status so they can acknowledge or dismiss their advance application. On the off chance that an advance is acknowledged, at that point, they issue checks to the clients. Credit official is simply one more name for the Advance official. Pretty much every bank and NBFC need credit officials for favoring advances to clients. Thus there is no deficiency of this activity in the nation. The normal pay of an advance official can be Rs 15,000 to Rs 20,000 every month.
Deals official employment sounds exceptionally simple as your fundamental duty is to get an ever-increasing number of clients to open a ledger (current and investment funds) with the bank you are working for. In any case, the weight is extraordinary on the grounds that you need to produce leads and discover prospects all alone. There is nobody else to support you. You are given an objective for every day and you need to accomplish those objectives. Right now, it can be laid off whenever on the off chance that you don’t meet the objective. To make due here you need great Individuals’ aptitude and contacts with individuals in your general vicinity. A business official working for a bank like HDFC or ICICI could earn between Rs 200,000/ – to Rs 400,000/ – yearly.
You don’t need to consistently go for a private occupation. There are numerous administration occupations that you can pay special attention to after you have finished M.Com. Both central and state governments have heaps of banking occupations. One of the most well-known one is Bank Post-trial agent or Bank PO. So as to turn into a bank PO you need to clear a placement test comprising 3 rounds. In the wake of being procured, you can join PSU banks like SBI, PNB, Bank of Baroda, BOI, and so on. The pay of an SBI Bank PO is around Rs 40,000 every month including all recompenses. You can likewise go after lower positions like agents, Records Colleagues, Divisional officials, and so on. There are other government divisions like Income, Railroad, Barrier, and Timberland that have openings for M.Com graduates.
Chartered Accountancy (CA)
One of the most well known and optimistic courses after B.Com for business understudies is CA. CA tests are directed by Foundation of Sanctioned Bookkeepers of India (ICAI) and you need to clear three rounds, CA Foundation, CA Inter and CA Final. In spite of the fact that we know the difficulty and chances of making it to become a CA finally is very tough, once you make it, the number of opportunities you get will be never-ending.
CA/CS (Organization Secretary)
An ensured chartered accountant can launch his profession promptly in money related foundations like banks, MNCs, government offices and so on at an exceptionally top position. A CA doesn’t need to sit tight for finding the correct sort of occupation. On a normal, a confirmed CA can win anything between Rs 6 lacs to Rs 30 lacs for every annum based on his/her experience. The enormous 4 firms that enlist CA are KPMG, PWC, EY and Deloitte.
Regulatory Employments in Open Area
PSU organizations like BPCL, GAIL, ONGC, BSNL and so forth enlist freshers as CA from the campus placements directly. The yearly compensation that they offer is between Rs 7 lacs to Rs 16 lacs for every annum. However, development opportunities are extremely constrained. CA’s with more experience can join as a monetary guide, financial consultant, law counselor, specialized advisor with the central and state governments.
Masters in Business Administration (MBA)
The Masters in Business Administration is definitely the best degree for graduate students who take a keen interest in business management. Every firm looks for efficient managers to lead their projects at the forefront and this degree prepares you exactly for that. There are various specializations available but you can choose one based on your interests.
The eligibility criteria that one must fulfill to get into an internationally acclaimed MBA program differ from university to university. An MBA degree is usually considered to be a mid-career degree and hence most universities prefer slightly experienced candidates in their academic cohorts. This is also extremely important as a student might find it a little difficult to come up with effective managerial solutions to case studies without absolutely zero experience. Apart from this, some students with a rich extracurricular background have chances to get into an MBA program without prior experience as their positions of responsibilities held speak highly of them and their leadership qualities.
Some of the best business schools across the world include the Harvard Business School, the Wharton School of Business and the Massachusetts Institute of Technology Sloan School of Management in the United States. In the United Kingdom, the Said School of Business at the University of Oxford and the Warwick School of Business also offer excellent MBA programs.
The various roles that an MBA graduate can be hired into are listed below:
If you are a finance enthusiast with a keen interest in the stock markets, this is the perfect career for you. The job of an Investment Banker is one of the highest-paid roles in the world. Some of the richest companies hire MBA Graduates from top universities for the role of an Investment Banker. Some of these companies are JP Morgan Chase, Goldman Sachs, Berkshire Hathaway, the CITIGroup, and Deutsche Bank among many others.
Almost every major company and organization has a roaring accounts department that keeps a tab of the firm’s finances. Since this is one of the most important departments in an organization, they require a good and assertive manager who can manage this branch well and manage the people working in it. This is where the role of an Accounting Manager comes in. Since almost every firm as one, we will not be naming individual companies who hire for this role.
This career role is very similar to that of an Investment Banker where Financial Analysts assess the financial situations of various companies and enterprises and assist with the investment decision making process. Financial analysts mostly find a place of themselves in insurance firms, pension funds and banks.
Masters in Management
A Masters in Management degree is fairly similar to a masters in business administration (MBA) with one significant difference. While an MBA degree is a mid-career course, an MiM degree is usually pursued in the early onset of one’s career, preferably immediately or within 1-2 years of the completion of the bachelor’s course. While the career choices are very similar to that of an MBA degree, an MiM graduate can find a job for themselves in various fields including data analytics, finance, consulting, and information technology. An MiM degree is more popular in Europe than other parts of the world. Some of the best schools offering it are the London Business School, HEC Paris, ESSEC Business School and the Bocconi University among many others.
Masters in Finance
A master’s in Finance degree is a degree with a finance specialization. In Australia particularly, this course is offered as a Master’s in Applied Finance. People with an interest in investment banking and financial management must go for this. To complement this course perfectly, one can also choose to pursue the Chartered Financial Analyst certification which also comes with a finance focussed specialization.
The course structure of an MFin degree requires one to study financial economics, financial engineering and various computational methods. The program also includes parts of corporate governance, business strategies, and ethics. However4, due to its concentration in finance, the students are less exposed to topics of general management, unlike an MBA. This degree prepares one for technical roles in multinational, governmental, or non-governmental organizations. Investment banks hire MFin graduates for very high salary packages.
Some of the best universities across the world that offer MFin degrees are HEC Paris, University of St. Gallen in Switzerland, Stockholm School of Economics in Sweden, ESCP Europe in France and the Bocconi University in Italy.
The Masters in Finance degree is one such program for all financial enthusiasts where they can specialize in finance and gain useful insights into that world. Major companies where MFin graduates can work in the roles of Financial Analysts and Investment Bankers are the top investment banks and other financial/monetary assets institutions.
Masters in Digital Marketing
We all know what Digital Marketing is all about. The purpose of Digital Marketing is the same as that of regular marketing however it is done purely in digital platforms for the purpose of branding and promoting across social media handles. With the advances in science and technology, this is not very difficult because there are several businesses that function exclusively through online resources. If you are someone who takes a keen interest in technology and the internet along with the marketing side of running a business, then this is exactly the course for you.
A master’s in digital marketing includes several course modules in marketing, social media, technology, business ethics, search engine optimization, etc.
The various universities that offer a master’s degree in digital marketing are the Northern Illinois University and the Full Sail University in the United States of America.
People with masters degrees in digital marketing often find jobs in the following roles:
Content Strategists and Managers
The role of a content developer includes creating and strategizing effective content that goes up in the social media handles of an organization. These Content Managers ensure that information provided in the content is optimized to the highest possible level and targeted to the right audience.
Virtual Reality Developers
Virtual Reality Developers work with technology and come up with innovative ideas on how technological progress and tools can be harnessed to market a brand and promote it to the younger generations.
Search Engine Optimization Specialists
SEO strategists play an extremely important role in an organization. They are ones who assist the others in ensuring that the content is perfectly optimized for the target audience so that it makes a proper impact and is compelling enough. Also, SEO strategists use various tools at their disposal to find out who the target audience is, who is regularly seeing their social media and blog updates and what their backgrounds are like. The managers in this role are also responsible for making sure that they stay connected with the audience and incorporate their feedback in all future updates.
Masters in Business Analytics
An MSBA degree is for anyone who is interested in Business as well as computer science and information technology. If you are someone who wishes to harness the positive sides of technology and incorporate them into the business side of a firm and help it grow, then this is the perfect course for you.
Top universities across the world for a master’s degree in business analytics include the MIT Sloan School of Management, the University of California at Los Angeles – Anderson School of Management, and the ESADE Business School in Spain.
The various roles that this course can prepare one for include a management or business analyst, operation research analyst, or statistician/mathematician. Since these roles have more or less been explained before, we do not expand them any further here.
As we can see there are a large number of opportunities awaiting you once you finish your B.Com degree. There are many more career paths that you can venture forth based on your interests, however, the top programs are listed above.
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