career option after bcom

Top 7 Career Options To Consider After B.Com

What to do after B.Com?

Right after completing our higher secondary education, we all start dreading the rat race we’ll soon be part of. No matter what stream we choose, it’s inevitable! If you’ve made up your mind to choose B.Com as your ideal stream, you’ll simultaneously be wondering about the career options it may lead you to and their scope. Questions like what to do after B.Com will always be clouding your mind.

B.Com is the most common undergraduate degree opted for by students from a commerce background. It provides them with a deep understanding of the commercial field through a blend of core and elective courses. Each university has its own rules to allow students to choose their elective courses from economics and taxation to accountancy. The Bachelor of Commerce (B.Com) degree duration is 3 years, and the approximate fees in India range from INR 10,000 to INR 1,00,000.

When thinking of what to do after BCom, many students find it difficult to decide on their next career step. If you’ve recently graduated with a B.Com degree, you have several options ahead of you. As a B.Com graduate, you already have gained an accounting and finance background, which can further be leveraged to pursue professional degrees in the same field and receive global opportunities.

courses after bcom

Let us take a look at the courses after BCom and careers you can look forward to.

Professional Courses After Commerce Graduation

1. Chartered Accountant (CA)

One of the most well-known career choices in India is Chartered Accountancy. It is also regarded as one of the toughest professions because of the difficulty level of the tests. In spite of COVID, the demand for CAs upsurges by 37%. Surprisingly, only 3.1% of the candidates manage to clear the CA final exams. However, once you get there, you not only get the salary you deserve but also get to experience exponential career growth. Moreover, CA is also considered one of the most honourable titles. 

After BCom, you need to clear a series of 6 tests (4 groups) to become a Chartered Accountancy. You can start your preparation after completing your 12th, which means you can aim to clear the first few tests during graduation. After qualifying for the last test, you get the designation of a Chartered Accountant, and with that, you can either choose to start your practice or join any CA firm. You can also work as a financial consultant or conduct auditing for organizations. The average salary of a Chartered Accountant in India is 6,00,000 INR- 7,00,000 INR pa. Countries like Australia, and Singapore draw a large number of Indian CAs every year while offering quite handsome salaries ranging from 33,000 SGD  to 72,000 SGD.  

Top Hiring Companies For CA 

  • Tata Consultancy Services
  • KPMG LLP
  • Accenture 
  • Citco
  • EY 
  • Finserve

Salary of a CA 

On a Average a Chartered Accountant can get about 6-7 Lakhs per annum and there are many factors that effect the average salary of a CA ie location, experience, and the firm to name a few. CA as they are always in demand due to their extensive skill and expertise in Accounting a. As a fresher, you can get a starting package of up to 7 lakh per year and it can go as high as 15 Lakhs per annum

ca salary

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2. Association of Chartered Certified Accountants (ACCA)

ACCA or the Association of Chartered Certified Accountants is a globally recognised accounting course accepted in more than 180 countries. This UK-based course can be completed in a year or two based on your learning pace or the exemptions you’ve gained after completing BCom. ACCA equips students with hardcore accounting concepts like taxation, auditing, strategic business reporting, financial reporting, etc. Since Chartered Accountancy concepts are taught from a global perspective, the candidate gains the right skills to become a Global Chartered Accountant.

Top Hiring Companies For ACCA

  • Ernst & Young (EY)
  • Amazon
  • Deloitte
  • Barclays
  • PwC
  • Wipro

Salary of an ACCA 

acca salary

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3. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a PG-level course covering different financial subjects like equity investment, corporate finance, derivatives, financial reporting, and analysis. The syllabus consists of 10 core subjects divided into 3 levels. It is mandatory to have a graduation degree before applying to any institute for the CFA program. 

The program fee in India ranges between 40,000 INR-1,25,000 INR. Students with a CFA qualification are in high demand, and once you clear all three levels, you will be able to dive into a pool of opportunities. Deloitte, JP Morgan, and TATA Consultancy are just some companies that provide work opportunities to CFAs. Job roles include Chartered Financial Analysts, Investment Managers, Portfolio Managers, and other positions in different firms after completing the degree. In India, the salary of a CFA starts from approximately 6,50,000 INR pa.

Top Hiring Companies For CFA

  • JP Morgan Chase
  • UBS
  • RBC
  • HSBC
  • Wells Fargo
  • CitiGroup

Salary of a CFA

Source

4. Company Secretary (CS)

CS or Company Secretary is an extensive course in accounting that’s gaining immense popularity due to its demand. This course requires you to play a mediator between the company’s board of directors, stakeholders, government bodies and other parties involved. The Company Secretary course is an India-based course with a duration of almost three years. Offered by The Institute of Company Secretaries of India (ICSI), this course equips you with financial, accounting as well legal knowledge.

Top Hiring Companies For CS

  • KPMG
  • Reliance Industries
  • Infosys
  • Aditya Birla Group
  • Tata Consultancy Services

Salary of a CS

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5. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) assists organisations and businesses with tax and financial planning. Their job is to monitor company employees, follow correct accounting processes, and answer financial reporting questions. To become a Certified Public Accountant, you must clear a series of 4 tests. You become eligible to begin the application procedure after you complete your graduation. US CPA is one of the top career options after BCom. The average fee for completing the CPA course in India is 2,13,525 INR. If you are an intermediate CA/CMA student, you can also gain an exemption in the first two tests, AFAE and BRLC. A CPA’s salary is approximately 693,985 INR pa in India. 

You now know about different degree courses you can opt for. But what if you don’t want to study further? Well, there are several job opportunities you can choose from. Here are some of the best ones.  

Top Hiring Companies For CPA

  • KPMG
  • Deloitte
  • PwC
  • Insight Global 
  • Walmart

Salary of US CPA

us cpa salary

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6. Financial Risk Management (FRM)

While CFA is a broad course in the field of finance that covers everything, from investments to risk management. FRM is a rather specific course that enables you to analyse the pricing risks and infuse them into all financial decisions made by your firm. After the pandemic, the demand for both of these professionals is on the rise. While every company needs an investment expert to put their finances in the right places, they also require an FRM manager to ensure that their finances are safe and secure.

To understand which course would be better for you in the long term, it is important to have a detailed understanding of the benefits of each of these courses.

Top Hiring Companies For FRM

  • PwC
  • ICBC
  • JP Morgan Chase
  • Consulting Firms
  • Hedge Funds

Salary of an FRM

frm salary

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7. Chartered Financial Planner (CFP) 

CFP or the Chartered Financial Planner is an emerging professional course that’s often chosen by finance enthusiasts who are interested in planning and managing organisational finances. This course is a globally recognised certification that offers several job opportunities in over 26 countries worldwide.

Currently, there are more than 1,70,000 Chartered Financial Planner certificate holders, and as the demand for this profession continues to grow, so does the scope in terms of opportunities and compensation. With the wealth and financial planning industry growing at a rate of 20% every year, there is never a dearth of jobs in this field. Offered by the Financial Planning Standards Board (FPSB), this competitive course will teach you how to successfully guide clients through the increasingly complex financial world.

  • Acme Services
  • Fintoo
  • IFA Global
  • Spark Private Wealth
  • Spectre HR Services

Salary of an CFP

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Post Graduate Courses after you Bachelors in Commerce 

1. Master of Commerce (M.Com)

Masters of Commerce (M.Com) is a two-year post-graduate level course after BCom that focuses on giving you in-depth knowledge of economics, trade, revenue, and taxation. You can pursue a Master of Commerce degree f you want to specialise in your area of interest like finance and accounting and would like to make a successful career in it. 

To pursue M.Com from a recognised university, you need to have a minimum of 50% aggregate in your bachelor’s degree. In India, the total course fee of M.Com ranges from approximately INR 5,000 to INR 1,50,000 depending on the university you choose and the features of your course. M.Com degree holders are often met with various work opportunities in the commercial, public, and government sectors. 

After obtaining the degree, you can work in the BFSI industry, pursue a teaching position or lectureship, or you can even choose to conduct research in your area of interest.

Top Hiring Companies For M.Com Graduates:

  • Megasoft Solutions India Pvt Ltd
  • Align Info Solutions Pvt Ltd
  • TCY Learning Solutions Pvt Ltd
  • Plasticity
  • Molad Pictures And Creations Pvt Ltd

Salary of an M.Com Graduate With Job Roles
mcom salarySource

2. Master of Business Administration (MBA) 

Master of Business Administration is one of India’s most popular postgraduate degree courses. According to a survey by Payscale for the years 2010 to 2018, it was noticed that there is a nearly 80% increase in income for MBA graduates. If you are interested in business, marketing, finance, or human resources, MBA is the ideal degree option for you. 

Most of the business schools in India grant admission for an MBA through the Common Admission Test (CAT). You need to either have a bachelor’s degree in any stream or be in the final year of graduation to appear for the exam. After pursuing an MBA, you can choose to make a career in corporate or start a business of your own. The cost of an MBA programme in India is determined by several factors, including infrastructure, hostel accommodations, and extracurricular activities offered. For most business schools in India, MBA fees range from 20,000 INR to 40,00,000 INR.

Top Hiring Companies For MBA Graduates:

  • Tata Consultancy Services
  • Reliance
  • Cognizant
  • Wipro
  • ICICI Bank

Salary After MBA

mba salary

Competitive Exams

1. Banking

If you’ve always dreamt of working for top Indian banks, with your B.Com degree, you’ve come closer to achieving that dream. However, you’d be required to crack competitive exams like the IBPS, SBI Clerk, and RBI Grade B examination to get a designation of a clerk, PO, or specialist officer. Most competitive banking exams are conducted in two stages, namely, Prelims and Mains. Make sure to join a good coaching institute, prepare well, and with a decent strategy, you will be able to clear it. 

The average income of a bank PO ranges between 3,60,000 INR- 4,00,000 INR per annum. 

2. UPSC Civil Services

Preparing for civil services is also an option that many B.Com graduates choose. The students who qualify for the exam are known as civil servants. Heading the district administration, and maintaining law and order, are some of the main duties of civil servants. Depending on the designation as an IAS/IPS/IFS, the salary range is between 56,100 INR and 2,50,000 INR per month.

If you are about to complete B.Com, the career opportunities ahead of you are infinite and will continue to grow as you skill up and turn into a professional. All you have to do now is determine whatever profile attracts you the most and strive towards it. Recently completed your B.Com and not sure in which direction to head out? Let us guide you! Get in touch with our academic experts who will only help you chart out a successful career pathway for you, but also enable you to take the next step towards it. Click on the WhatsApp icon at the side of this article to get in touch with our experts.

Which course is best after B.Com?

Since B.Com helps build a strong foundation in finance and accounting courses, choosing ACCA would be a great option as you would gain exemptions on a globally recognised degree.

Can we get a job after B.Com?

You can get a job after B.Com. However, if you want to expand your opportunities at a global scale, courses like ACCA, CFA, and US CPA would help you get there.

Is B.Com good for the future?

B.Com as an undergraduate degree helps build a strong base for other professional courses in the field of finance and accounting. But a professional degree is required for more opportunities.

What to do after B.Com?

You need to pursue a global professional finance or accounting degree like ACCA, CFA, and US CPA to make the most of your B.Com degree and gain international opportunities.

What are a few of the best career after B.Com options?

Some of the best careers after B.Com options after B.Com are Financial Analyst, Financial Advisor, Chartered Accountancy, and Financial Risk Manager.

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