COVID 19 has had a significant impact on the entire world. It left a lasting effect not only on health but also on the economy and finance.. As corporations struggle to manage their budgets, many of them are weeding out the brightest individuals while reducing the cost of operations.
Many individuals have realised the value of higher education during this period. Candidates with a strong résumé and good education after graduation have a slightly better probability of surviving in such emergency scenarios than others.
Students are normally perplexed by the prospect of deciding on a professional path after completing their M.Com. This article is ideal for you if you are looking for the best career options after M.Com.
10 best career options after M.Com
Here we have the list of best career options after M.Com with higher paychecks:
|Job profile||Lowest package||Average package||Highest package|
|Chartered Accountant||Up to INR 4 lakhs per annum||Up to INR 7 lakhs per annum||Up to INR 40 lakhs per annum|
|ACCA||Up to INR 5.5 lakhs per annum||Up to INR 8 lakhs per annum||Up to INR 50 lakhs per annum|
|Corporate Secretary||Up to INR 1.8 lakhs per annum||Up to INR 6.2 lakhs per annum||Up to INR 23.6 lakhs per annum|
|Chief Financial Officer||Up to INR 6 lakhs per annum||Up to INR 13 lakhs per annum||Up to INR 26 lakhs per annum|
|Investment Banker||Up to INR 2.46 lakhs per annum||Up to INR 9.61 lakhs||Up to INR 30 lakhs|
|Tax Consultant||Up to INR 2.50 lakhs per annum||Up to INR 9.5 lakhs per annum||Up to INR 29 lakhs per annum|
|Financial Analyst||Up to INR 3.01 lakhs per annum||Up to INR 6.65 Lakhs per annum||Up to INR 20 lakhs per annum|
|Company Secretary||Up to INR 2.9 lakhs per annum||Up to INR 5.84 lakhs per annum||Up to INR 10 lakhs per annum|
|Stock Broker||Up to INR 1.5 lakhs per annum||Up to INR 3.64 lakhs per annum||Up to INR 6 lakhs per annum|
|Operations Manager||Up to INR 3.01 lakhs per annum||Up to INR 8.1 lakhs per annum||Up to INR 20 lakhs per annum|
Read More – M.Com course complete details
- Enrol in an MBA Programme
If you are seeking the best career options after M.Com, MBA or Masters in Business Administration is a popular higher education programme for students all around the globe. This two-year programme provides students with specialised and cross-functional management expertise. Students study a range of management art and science via research papers and case studies, which help them grasp real-life scenarios and improve their managerial and decision-making abilities in the corporate world.
Manipal University Jaipur offers an online MBA degree course that allows you to study at your own pace. Do visit the Online Manipal website to know more about the best career option after M.Com.
- Become a Chartered Accountant
CA, or Chartered Accountancy is unquestionably one of the best courses to pursue after finishing an M.Com. Students interested in taxes and accounting should seek out a CA to obtain proficiency in both topics. The programme enables students to gain and grow their knowledge in finance and taxes, and to improve their analytical and problem-solving abilities. To earn a CA certificate, one must go through three levels: Foundation, Intermediate, and Finals, as well as a 2.5-year articleship.
In India, the average income for CA graduates is Rs. 8-10 LPA.
- Enrol in an ACCA course
If you are good with numbers, ACCA can be a great career option after M.Com for you.
Qualifying with an ACCA certification can provide a good edge in terms of securing better employment prospects by providing insights into the professional industry you’re interested in.It qualifies you both academically and professionally to execute your duties as an accounting professional and to pursue attractive work options that may provide you with a good quality of life.
All of the information obtained from an ACCA professional level course assists you in achieving perfection within the corporate finance area. It also enables you to properly execute any position linked to the company and financial management concerns.
In India, the average salary for an ACCA professional is INR 8 LPA.
- Become a Corporate Secretary
If you have good managerial skills and can play well with business finances, Corporate Secretary can be the best career option after M.Com for you
As the Corporate Secretary position affects every moving aspect of the entire organisation, a Corporate Secretary holds several vital responsibilities in keeping an organisation functioning and profitable. They are responsible for ensuring that the business remains in conformity with regulatory and legislative standards, and carrying out all decisions, amendments, and resolutions proposed by the Board of Directors. They are essentially the glue that ties the organisation together.
In India, the pay range for a CS is between INR 5 to 10 LPA.
- Chief Financial Officer
A Chief Financial Officer (CFO) is a financial expert in the management department of the company’s financial health. The CFO’s roles include building a top-tier finance and accounting team, ensuring balanced incomes and expenditures, monitoring FP&A operations, offering suggestions on mergers and acquisitions, acquiring financial assistance, working with heads of departments to evaluate accounting statements, craft budgets, attesting to the high precision of reports, and consulting with CEO on strategies.
In India, the pay range for a CFO is between INR 6 and 26 LPA.
- Chartered Financial Analyst
The CFA certification is issued by the CFA Institute and is the finest professional qualification in finance, making it the best career option after M.Com for those who want to pursue a career in the financial industry.
CFA, or Chartered Financial Analyst, is a 2.5-year study in finance and investing. If a student wants to pursue a profession in finance or investing, this is the course to take. In this course, students will learn about financial analysis, derivatives, funds, bonds, investment, and portfolio management. A Chartered Financial Analyst’s average annual pay is INR 6.6 LPA.
- Investment Banker
The investment banker certificate course is intended to produce talented banking and investment professionals.
The CIB course focuses on the following areas: banking, finance, financial analysis, banking and corporate activities, reorganisations, listing, fundraising, IPO, mergers, transactions and LBO
In India, an investment banking professional may earn an annual income of INR 9.6 lakh.
- Tax Consultant
Tax Consultants assist their customers in saving money by making intelligent financial judgments on tax-related problems. They conduct interviews with customers to acquire information about their financial conditions and design methods to assist them to lower their tax burden by taking advantage of tax credits and deductions. Tax consultants guarantee that their clients meet their tax obligations and respect the law.
With an M.Com degree, you can work in a taxation consultant business; however, individuals from a law background are preferred by taxation organisations to handle legal tax concerns.
In India, the average annual income of a tax consultant job is INR 9.5 lakh.
- Stock Broker
A stockbroker is an authorised professional who gives financial advice to shareholders. Furthermore, stockbrokers carry out stock transactions on behalf of shareholders, such as the selling or acquisition of stocks, debentures, and other financial assets. In exchange for their services, stockbrokers receive commissions or a fee.
In India, a stockbroker’s average salary is starting around INR 4 lakh.
- Government jobs for M.Com graduates
The government sector offers the best career options after M.Com at all levels. A government job begins with becoming an officer in a government bank or a corporation in the finance, accounting, and management department of the commerce industry. If a candidate wants to advance in a government job, obtaining an M.Com degree from an accredited institution is the ideal choice.
There are several M.Com job opportunities in the government banking business. Let’s take a look at the government jobs for M.Com freshers in the financial sphere:
- SBI PO
SBI (State Bank of India) runs the SBI PO competitive test for Probationary Officers. The assessment is conducted every year for the students.
The test only consists of three stages.
- Preliminary Examination
- Main Examination
- Personal Interview or Group Discussion
Salary: The base pay of a Probationary Officer is INR 27,620 per month. It will increase as you acquire job experience.
- RBI Grade B Officer
Every year, the Reserve Bank of India holds the RBI Grade B Officer Examinations. This test is for individuals interested in becoming Grade B officers at the premier banking regulator in India. The RBI conducts tests for officers and office assistants in a number of areas.
The test consists of two stages.
- Preliminary Examination
- The main examination
Salary: The salary of RBI Grade B Officers is the highest of any government or banking employment in the nation. The remuneration of an RBI Grade B official is INR 77,000/-.
- IBPS PO
The Institute of Banking Personnel Selection (IBPS) conducts three-part exams for the position of Probationary Officer (PO) in all public sector banks.
The job description will call for the individual to do general banking, clerical oversight, and other bank administration-related tasks.
The exam takes in the three stages
- Preliminary examination
- Mains examination
- Interview round
Salary: IBPS Probationary Officers (POs) are entitled to a base salary of INR 23,700 following the 7th Pay Commission, along with benefits such as DA, HRA, and others.
Required skills for M.Com jobs
You must have great numeracy abilities to have a successful job in a business-related sector. You’re probably aware that employment in finance, data management, taxation, and banking take your proficiency with numbers into account when hiring. You should be able to interpret and work with numerical and graphical data, make conclusions, and explain your results.
Given the well-paying standards and development potential of management professions, most commerce students choose a career with a corporate organisation.Working as a multinational corporate honcho now necessitates that you be a great communicator as well as a competent manager.
Thus, communication skills are acknowledged as a must-have professional ability for commerce students. From customer management to internal team management to boardroom presentations, a commerce student must master communication skills.
Almost all businesses want to recruit problem-solvers for all M.Com job openings. All commerce graduates are expected to be able to devise realistic, cost-effective solutions. Remember that all services available today are nothing more than answers to some of our day-to-day difficulties. Excellent problem-solving abilities demonstrate how effectively you execute in different case situations.
The commerce graduation courses are designed for people who wish to become leaders and work as part of a team to achieve a common objective. Because the corporate world is all about teamwork and leadership, you must be an effective team manager and leader. Employers like to recruit team players who will ultimately become exceptional team leaders rather than lone coyotes.
Online M.Com: A smart approach to get educated
We live in an era when professionals with M.Com are sought after by many sectors and industries. Everyone, from a new graduate to a working professional, can now pursue an M.Com course online. Here we have listed some of the key differences to know why online M.Com is a smart approach to get educated.
|M.Com online classes||M.Com regular classes|
|Learn from anywhere across the globe||Location-specific learning|
|No more getting stuck in traffic jams||Commute can be hectic|
|Time saving||Huge loss of time|
|Access to great visual tools for faster learning||Easy access to learning tools is limited in the campus|
|Highly skilled mentors and teachers||Limited number of teachers to choose from|
|Great flexibility with convenience||Rigid learning schedules and inconvenience|
|Better focus||High chances of distraction|
|Convenient doubt clearing sessions||Inconvenient doubt clearing session|
Why should I enrol for online M.Com course
The biggest advantage of taking an online M.Com degree is the freedom in pursuing a career amid work schedule and other commitments. For example, if you are an elite golfer and want to devote time to this sector of life, an online M.Com programme will provide you with plenty of time to perfect your skill.
2. Overcome geographical limitations
Geography or location is crucial in obtaining a good education. Due to their locality, students are often limited in their choice of institution for an M.Com programme. However, when it comes to online classes, this is no longer an issue. You may live in a small town and yet enrol in an internationally accredited online M.Com programme from Manipal University Jaipur through Online Manipal.
3. A pleasant learning environment
Online education allows you to take courses from anywhere, at any time – whether it’s your house, a coffee shop, or a library. All you need is a high-speed, consistent internet connection and a laptop/smartphone/tablet.
4. Global interaction
Students from all around the world enrol in an approved institution like Manipal University Jaipur which offers an online M.Com programme. This makes the academic atmosphere more inclusive and enables you to engage with individuals from other countries. It’s a terrific opportunity to meet new people while also learning about various cultures. Thus, online M.com degree programmes offer you the best job opportunities across the globe
Pursuing an online M.Com from Manipal University Jaipur
Online Manipal’s Masters of Commerce (M.Com) is a two-year postgraduate degree programme structured into four semesters. Online M.Com is a degree programme where students acquire knowledge to get the best M.Com job opportunities in banking, finance, insurance, accounting, and other commerce-related industries.
Eligibility Requirement to get admission in Online M.Com
- Candidates must have a 10+2 certification and a bachelor’s degree in commerce, or any comparable qualification, from an AIU-approved university/institution
- Candidates must have at least a 50 percent aggregate mark in their graduation
- Candidates from reserved categories must have 45 per cent aggregate marks in their graduation to be admitted to the M.Com programme.
In this article, we have discussed some of the best career options after M.Com and the highest-paying positions for a commerce student. So, if the business is one’s vocation, they don’t have to defy traditions and numerous cultural constraints. Look for opportunities and seek the best M.Com job opportunities you wish to work in this VUCA world and sail with high grades. One must explore for the passion that entices them.