14 Best Career Options after MCom

In this day and age of the primacy of technological and business education, why should one study a Master of Commerce (MCom) degree program? What will they get out of it? An MCom degree offers students in India various crucial benefits. This includes specialized knowledge, better career opportunities, and higher earning potential, especially in domains such as accounting, banking, and finance.

This article will explore the top MCom career opportunities available to students in India. It will also highlight the reasons why one should pursue the degree program at Online Manipal. 

Best Career Options after MCom

An MCom degree can open doors to various career paths in lucrative sectors, including finance, banking, accounting, and related fields. Some of the most popular options in this case are chartered accountancy (CA), investment banking, company secretary (CS), roles in the insurance and banking sectors, and financial analysis. Candidates can further enhance their career prospects with specialization courses, such as the Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), and the Association of Chartered Certified Accountants (ACCA).

Government/Public Sector Job Opportunities

Reserve Bank of India (RBI) Grade B Officer 

An RBI Grade B officer can be considered one of the top MCom jobs with a high salary. They regulate monetary policies, oversee banking operations, and manage currency circulation. They are also involved in financial research, banking supervision, and policy formulation. As the name of the profession might suggest, RBI is the largest employer in this field. However, they also work with financial institutions, government bodies, and think tanks.

Income Tax Officer

Income tax officers assess, investigate, and collect income tax filings. They also conduct audits, take action against tax evaders, and ensure that all individuals comply with the rules and regulations. They usually work for the Income Tax Department of the Central Board of Direct Taxes (CBDT) in India. CBDT is a part of the Union Ministry of Finance.

Read more: How to become an income tax officer: The complete guide

Assistant Audit Officer (AAO)

AAAOs help with the auditing of accounts of public sector undertakings (PSUs) and government departments. They also assist in ensuring financial transparency, support auditing and reporting, and spot irregularities. The Comptroller and Auditor General (CAG) of India recruits them through the Staff Selection Commission – Combined Graduate Level (SSC CGL) examination. They work in different departments of the government.

Bank Probationary Officer (PO)

Bank POs manage regular banking operations, loan disbursement, customer service, and compliance. They also receive training to work in managerial roles in the future. Both public and private sector banks recruit professionals, such as those from the State Bank of India (SBI), cooperative banks, and banks that participate in the Institute of Banking Personnel Selection (IBPS) exams.

Lecturer/Assistant Professor 

Lecturers and assistant professors teach both postgraduate (PG) and undergraduate (UG) students, publish academic papers, conduct research, and guide student projects. Thus, they play an essential role in the context of higher education in India. Their biggest recruiters are colleges, deemed institutions, universities, and educational think tanks in both the private and public sectors. 

Accounts Officer (Railways/PSUs)

Accounts officers are responsible for functions such as budgeting, tracking expenses, accounting, and auditing within the organization for which they work. In the public sector, their biggest employers are the Indian Railways, PSUs such as Oil and Natural Gas Corporation (ONGC), Bharat Heavy Electricals Limited (BHEL), etc., and departments in both central and state governments. 

Commercial Tax Officer (via State Public Service Commission or PSC)

The primary duty of commercial tax officers is to collect and assess commercial taxes, such as the goods and services tax (GST), enforce tax laws in the states, and investigate tax-related fraud. They are also given the power to examine the accounts of dealers and assess the taxes that they are supposed to pay. Their biggest recruiters are the state commercial tax departments and state PSCs.    

Read More: What is the best career move after BCom: Job or MCom?

Private Sector Job Opportunities

Financial Analyst 

Financial analysts analyze financial data, company performance, and market trends to offer business and investment insights to both organizations and individuals. Risk assessment is also an essential part of their work. They also assess financial information, economic conditions, and market trends to advise on investments, financial strategies, and budgeting. They primarily work in investment banks, corporations, consulting firms, and financial services firms.  

Chartered Accountant (CA)

CAs are involved in various work activities, including auditing, financial reporting, taxation, and providing advisory services to businesses. They also offer a wide range of related services, including accounting and financial management. They ensure that their clients are compliant with financial laws and also optimize their cost structures. They work primarily in audit firms, banks, corporates, and PSUs. However, they can also practice independently. 

Cost Accountant 

Cost accountants emphasize duties such as cost control, pricing strategies, budgeting, and profitability analysis. They also assist companies in becoming more efficient and reducing wastage. They also track, optimize, and analyze business expenses, including production, inventory, and labor. They are recruited mainly by manufacturing companies, consulting firms, PSUs, and corporate finance departments. 

Investment Banker 

Investment bankers manage large-scale financial transactions, including mergers, public offerings, and acquisitions. They also advise their clients on fundraising and investment strategies. They work with various clients, including governments and companies. They work primarily for establishments such as investment banks, global banking corporations, and financial advisory services providers. 

Data Analyst

Data analysts clean, interpret, and collect data to help businesses make informed strategic decisions. For this, they employ tools such as Structured Query Language (SQL), Python, Excel, and visualization software. They work primarily in the following types of establishments:

• Information Technology (IT) Firms       
• Startups
• Banks
• Electronic Commerce (E-Commerce) Companies 
• Consultancies 

Accounts Manager 

Accounts managers are responsible for managing client accounts, maintaining strong relationships with clients, and overseeing key aspects of businesses, including revenue collection and billing. They also coordinate with finance and sales teams in the same organization. The following types of establishments recruit them the most:

• Corporates
• Advertising Firms 
• Consultancies
• Media Houses
• Finance Departments 

Read More: 12 best accounting software and tools for BCom/MCom students

Company Secretary (CS)

CSs make sure that a company complies with legal, corporate governance, and secretarial rules and regulations. They also handle regulatory filings, in addition to supporting broad operations. They are mostly hired by private companies, law firms, listed firms, and multinational companies (MNCs) seeking compliance experts.

Jobs	Industries	Annual Average Salaries
RBI Grade B Officer	RBIFinancial InstitutionsEconomic Think Tanks	INR 13.1L
AAO	CAGGovernment Departments	INR 16L
Investment Banker	Investment BanksGlobal Finance Firms	INR 11L
Bank PO	Private and Public Sector Banks	INR 10.7L
Accounts Manager	Corporate Finance Marketing Agencies MNCs	INR 10L
Company Secretary	Private Firms Listed Companies Legal and Compliance Firms	INR 10L
CA	Audit FirmsCorporates PSUsBanksPrivate Practice	INR 9.85L
Accounts Officer (Railways and PSUs)	Indian RailwayPSUsGovernment Departments	INR 8.8L
Income Tax Officer	Income Tax DepartmentCBDTMinistry of Finance	INR 8.6L
Commercial Tax Officer	State GovernmentsState Tax Departments	INR 6.6L
Financial Analyst	Investment BanksMNCsFinance and Consulting Firms	INR 6.4L
Lecturer/Assistant Professor	Universities Colleges Research Institutions	INR 6L
Cost Accountant	Manufacturing Firms PSUsConsulting Firms	INR 6L
Data Analyst	IT Firms StartupsBanksE-Commerce Consultancies	INR 6L

Also Read: What are the career prospects for Bcom+Mcom graduates?

Why Pursue Online MCom with Online Manipal?

The online MCom degree program of Manipal University Jaipur (MUJ), one of the three universities on the Online Manipal platform, is an excellent option for students. This is because it can make them eligible for the best private sector and government jobs after completing their MCom. The program provides them with a combination of flexibility, strong career prospects, and affordability. This factor also makes it a compelling choice for students seeking to advance their careers in lucrative fields such as management and commerce. The program has been designed to provide them with detailed knowledge and practical skills that are highly beneficial in the contemporary business landscape. Students can also benefit from pursuing the program at the Sikkim Manipal University (SMU).  

Also Read: Can I get a banking job after MCom?

Conclusion

Students need to remember that selecting the right career after completing their MCom degree can open up doors to rewarding and diverse opportunities. This includes both government and private jobs after MCom. With the right choice, one can easily land their dream job in sectors such as finance, government, accounting, corporate, and taxation. MCom students may want to prepare for competitive exams for government jobs or pursue roles such as CA, CS, or a financial analyst. Regardless, they must align their interests with their career goals and strengths. With the right skills, dedication, and education, MCom graduates can have stable and successful careers across industries. Explore the online MCom programs on the Online Manipal platform today!

Also Read: How to get a job in e-commerce after MCom?

FAQs (H2)

1. What are the top career options after an MCom? (H3)

After graduating from an MCom program, students can take up a wide range of careers in fields such as accounting, banking, and finance. The most prominent career options available to students with an MCom degree are roles such as financial analyst, auditor, accountant, and investment banker. 

2. Can I get a government job after completing an MCom? (H3)

Yes, MCom students can often secure government jobs after completing their education, as the program provides a strong foundation for various government roles, particularly in domains such as accounting and finance. Many government organizations, departments, and public sector banks recruit graduates like these.

3. What courses can I pursue after an MCom for better job prospects? (H3)

After an MCom, students can pursue the following courses to boost their job prospects significantly:

Master of Business Administration (MBA)

• CA
• CFA
• Certified Management Accountant (CMA)
• ACCA 

These certifications can help students specialize in domains such as finance, management, and accounting.

4. Is an MCom helpful for competitive exams like UPSC or SSC? (H3)

Yes, an MCom can be beneficial for competitive exams such as the Union Public Service Commission (UPSC) and the Staff Selection Commission (SSC). This is because it provides them with a strong foundation in subjects relevant to these exams.

5. Can I build a career in content writing or digital marketing after an MCom? (H3)

Yes, candidates can always build a career in digital marketing and content writing even with an MCom degree. In fact, many MCom graduates have successfully transitioned to these domains. This is because the program prepares students in several ways for such roles.

6. What private sector jobs are available for MCom graduates? (H3)

MCom graduates can pursue a wide range of opportunities in the private sector, especially in domains such as accounting and finance. Some of the most popular jobs for such graduates in the private sector include the following:

• Financial Analysts
• Accountants 
• Auditors
• Tax Advisors
• Business Analysts