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Can I get a banking job after MCom? 

Commerce
Blog Date
February 26,
2024

Do you know top-level banking professionals earn up to INR 15 lakh per annum as Senior Managers and Vice-Presidents of a bank? Even entry-level positions for a banking professional can easily make one earn up to INR 6 lakhs per annum. Sounds interesting, isn’t it? You, too, can secure a rewarding career in the expansive field of banking with an online MCom degree in hand. 

Pursuing a Master of Commerce (MCom) degree course after graduation from a reputed institute will give you a comprehensive understanding of the principles of handling finances, which are always in demand at high-level banking sector jobs. Also, during the MCom course, one gets to learn and practice analytical skills that can easily lay a strong foundation for a multifaceted career in the banking sector. 

Join us in this post to understand the various job prospects in banking after completing MCom online from a prestigious university such as Sikkim Manipal University. 

How MCom degree help in a banking job 

Whether done online or through a traditional campus program, a Master of Commerce (MCom) degree can help an individual navigate the intricacies of the banking industry. The multifaceted skills gained through MCom relevant to banking careers that one can acquire are strategic and analytical, research and communication skills, accounting and management skills, and so on. 

Read further to learn more about how an online MCom degree can help you pave a bright career in the banking industry:

  • Solid foundation in finance: An online MCom degree holder has a solid foundation in finance because the course gave them theoretical and practical knowledge in finance management, investment analysis, and accounting. A deep understanding of all these skills helps make strategic financial decisions in a banking job. 
  • Key financial skills: The key financial skills mentioned earlier are highly valued in the banking sector. Apart from those, a Master of Commerce graduate is armed with risk management skills, financial planning, and budgeting skills. All these financial skills help them deal with the clients in a bank on a day-to-day basis. 
  • Jobs in Public Sector Banks: An MCom graduate can make significant contributions in a variety of public sector bank jobs. From being a Banking Officer to being a Credit Analyst, from a Financial Planner to a Risk Manager, an MCom graduate can use the specialized knowledge gained through the program in all such top-level public banking job roles. 
  • Higher earning potential: MCom graduates often have the opportunity to advance into leadership positions, where they can command significant salaries and bonuses. An MCom degree from a reputed university such as Sikkim Manipal University through the Online Manipal platform provides specialized knowledge in accounting, finance, economics, and management, making them highly sought after in the corporate world. Moreover, they can boost their earning potential with additional certifications such as Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) after an MCom course.

MCom course details 

If you have read so far, we assume you know how an MCom degree can help you in a banking job. So, let us proceed further to understand the MCom course details. Make sure to pursue this popular commerce field post graduation course from an accredited and recognized university like Sikkim Manipal University (SMU). The entire course is of 24-month duration split into 4 semesters to help the students grasp key concepts of commerce through a comprehensive curriculum.

Have a look at the SMU’s  online MCom course details:

Course ObjectiveTo deliver theoretical and practical knowledge to help sail an individual smoothly in a variety of commerce fields such as banking, insurance, finance, management, accounting, and business
Course EligibilityCompletion of graduation from a reputed institute or university 
Course Duration24 months (4 Semesters)
Course FeeINR 90,000
Semester-wise FeeINR 22,500

Private banks or public banks: What’s the difference? 

While there is a vast career scope in the banking sector for an MCom graduate, at times, it may become difficult for one to choose between a job in a private or a public bank. So, we think it is crucial for such a job aspirant to learn about the key differences between the two through the table given below:

Comparison ParameterPrivate BanksPublic Banks
Ownership These banks are governed by individuals, investors, and corporationsThese banks are governed by the government or government-controlled entities
Job securityPromotion chances are based on merit and performancePromotion chances are based on the seniority level
Growth opportunitiesHigher growth opportunities for private bank employees as compared to public bank employeesLower growth opportunities for public bank employees as compared to private bank employees
PensionPrivate bank employees don’t get pensions after retirementPublic bank employees do get pensions after retirement
Capital StructureMarket conditions largely drive the capital structure in private banksThe capital structure in public banks is largely driven by government policies
Market ShareNearly 19.7% of the market share in the Indian banking industryAlmost 72.9% of the market share in the Indian banking industry
Top BanksHDFC Bank, ICICI Bank, AXIS Bank, Kotak Mahindra Bank, HSBC Bank, and so onSBI, LIC, Bank of India, Indian Bank, Union Bank of India and so on

Advantages of building a career in the banking sector 

Building a career in the banking sector has several advantages. Job aspirants particularly look for a career in this particular sector for the sake of professional growth and stability and some other benefits that are listed below:

  • Job security: For decades, the banking sector has emerged as a stable source of employment even during economic downturns. Banking services are always in demand, and so one can get job security by working in a bank. 
  • Competitive salary: Being in demand for a consistent period, banking jobs do come with competitive salary packages for eligible candidates. Moreover, with so much competition between public and private banks these days, compensation is structured in such a way that it can retain skilled professionals. 
  • Scope for career growth: Several networking and opportunities for MCom graduates in banking are on the way for those who pursue it from the top-notch Sikkim Manipal University through the Online Manipal platform. They can network with the robust Manipal alumni network to climb the ranks in a banking career. 
  • Work-life balance: The best thing about working in a bank after postgraduation in MCom is the work-life balance it offers. The working hours are predictable, and there is hardly any need to do overtime or stretch, which is one key benefit shared in the success stories of MCom alumni who secured banking jobs.
  • Variety of job roles: At the same time, we can’t ignore the fact that the banking sector offers many exciting job roles to MCom graduates. The banking sector’s ever-evolving landscape ensures that MCom graduates continually encounter new challenges and avenues for growth, making it an exciting and rewarding career path for those with a passion for commerce and finance.
  • Additional perks like medical insurance and leaves: Extra benefits such as medical insurance and leave entitlements make working in a bank, whether public or private, advantageous. Employees receive various perks, including medical coverage and generous leave allowances.

Conclusion 

To conclude, we can only say that an online MCom degree acts as a formidable key that can unlock the gates to a thriving career in the banking industry. With its multifaceted curriculum, this commerce degree equips graduates with a holistic understanding of the financial landscape, a crucial asset in the intricate world of banking. Choose Sikkim Manipal University (SMU) to pursue an online MCom degree program through the Online Manipal platform and learn affordably from the expert faculty of this recognized university. Come and groom yourself and become future-ready to take a top-level job in a public or a private bank with the glorious Manipal status attached to your resume and an online MCom degree in your hand.

Disclaimer

Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.


Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.

  • TAGS
  • MCom
  • Online MCOM

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