After completing B.com, the most considerable thought that comes to the mind of a graduate is ‘what next?’. If you are also facing the same situation, this article is just for you.
Commerce is replacing mainstream courses like medicine and engineering because of its high profile jobs and salaries. But will just a B.com degree help you get placed in various organisations? No. Because of the increased competition in the job market, you have to upskill yourself to stay ahead. After becoming a B.com graduate, you have to either acquire a postgraduate degree like M.com or get certified in professional courses relating to commerce, accounting and finance. These additional degrees and classes will increase your probability of landing your dream job.
What to do after B.com?
We have listed some career options and related courses below to ease your confusion after B.com.
M.com or Master of Commerce is a postgraduate programme that most B.com holders like to do. It gives an in-depth knowledge of the commerce field and is helpful for students who wish to apply their theoretical knowledge in this practical world. This programme is a two-year course and deals with subjects like banking, taxation, finance, business management, etc. This course is most appropriate for individuals who wish to work in taxation, accounting or BFSI sectors.
After doing M.com, students can become an Accountant, an Accountant Executive, finance managers, market researchers, analysts, economists, etc. and get placed in some of the top companies like Accenture, Infosys, TCS, Genpact, etc. They can earn anywhere between 3 to 6 Lakhs PA.
Chartered Accountancy, in short, CA is one of the most sought after careers after completing B.com. It is a three-year programme that you can do even immediately after +2. But the preferable option is to pursue a CA career after completing B.com. CA course comes in three stages CPT, IPCC and CA Finals. After clearing these three stages, you have to do an internship for 2.5 years to become a certified chartered accountant. Some of the top recruiters of CA include Deloitte, HDFC, PWC, KPMG, ICICI, etc. Their salary ranges from 8-22 lakhs PA.
If you are into managing things, then a company secretary or CS is the right profession for you. It is a three-year-long course and is completed in three stages: foundation, executive and professional. The top recruiters of CS are TCS, PWC, KPMG, EY, Deloitte, etc. and can get an annual salary ranging from 4.5-10 lakhs.
Chartered Financial Analyst
Chartered financial analyst CFA is a globally recognised course. The course duration is 2.5 years which provides secure and high paying jobs. CFA Institute offers this course and comprises three stages. The topics covered under this course include investment analysis, statistics, economics, portfolio management, etc. After doing this course, you can choose to become a financial analyst, statistician, or market research analyst and get placed in one of the top companies like JP Morgan Chase, UBS, Citigroup, etc. Your salary will range from 10 to 25 lakhs PA.
Certification in Business Accounting and Taxation CBAT is one of the promising courses to learn after B.com. After doing this course, you will get practical knowledge in accounting, taxation, reporting, and other compulsory skills to work in various accounting firms. The duration of the course is from 8 to 12 weeks. Big Companies like Adobe, Datamatics and Big 4s are hiring CBAT certified candidates, and you can earn an annual salary between 5 to 11 lakhs PA.
Certified Management Accountant or CMA is an international course that makes you an expert in financial planning, decision support, analysis, control, and professional planning. You have to clear two examinations to become a CMA. If you have dreamed of working in companies like Deloitte, KPMG International, Cognizant, Genpact, etc., you can enroll for this course. It is a six months course, and you need graduation plus two years of work experience to take up this course. You can get a woofing salary from 8 to 11 lakhs PA.
CIB or Certificate in Investment Banking intends to evaluate all finance, banking and other monetary sectors of banking and investment professionals. After this programme, you can get placed in companies like JP Morgan, Barclays, HSBC, Citigroup, etc., after this group and earn a salary between 4 to 11 lakhs PA. You can pursue your career in investment banking, hedge funds, private wealth management, private equity and various other government organisations.
If you are interested in the teaching field, you can choose a B.ed or Bachelor of Education after completing B.com and teaching commerce students. Many schools hire commerce teachers who will get an annual salary between 3 to 10 lakhs depending upon the institution.I hope the above list has cleared your confusion regarding your career choice. If you want to set your foot in the commerce and accounting industry, get certified from a recognised accounts training institute or go for postgraduate programmes and increase your chance of getting employed in various firms.