M.Com vs MBA? How to decide the best option for you?
Completing a bachelor’s degree in commerce, economics, or business studies is a significant milestone in a student’s life. However, pursuing a master’s degree only adds more value and promises a great career path. For those who want to pursue a master’s degree in the field of commerce or business, the two greatest alternatives that will open doors to a successful career are an M.Com and an MBA. So, how do we make sense as to which one is the best option for us? We have tried to pick up the major aspects of both the courses and present a holistic view.
Overview: Difference between M.Com and MBA
What is M.Com?
M.Com (Master of Commerce) is a two-year master’s degree in the field of commerce. It is the extension of the course that you learn at a B.Com level, and more intricate concepts are taken care of in an M.Com degree. This course focuses on the subject matters of accounting, finance, mathematics, statistics, computer application, and other related subjects.
What is an MBA?
MBA (Master of Business Administration) is a two-year master’s degree in business administration. This course qualifies you to work in a managerial role in your chosen sector. MBA is one of the most in-demand postgraduate degrees, as it provides in-depth knowledge about how a business runs.
Reasons to pursue: M.Com Vs MBA
M.Com and MBA are recognised among the most prestigious postgraduate programmes in India and worldwide. Whether you want to explore a career in finance, or jump to marketing or entrepreneurship, you can choose between an M.Com or MBA degree based on your interests and skill sets.
Top reasons to pursue an M.Com degree
Here’s why you should consider pursuing an M.Com degree:
Massive scope for employment
M.Com is a degree-based programme that assists students in establishing a career in a rapidly expanding corporate world. Aspirants for the business sector benefit from specialising in commerce courses. The number of opportunities available after completing an M.Com degree is growing. M.Com degree holders have ample scope for jobs in the following sectors:
- Educational Institutes
- Customs Department
- Economic Consulting Firms
- Commercial Banking
- International Banking
- Investment Banking
- Accounting and auditing
- Tax advisory services
- Financial services
- Insurance services
- Government services
- E-commerce sector
Better career advancement
Earning an M.Com degree demonstrates perseverance, tenacity, intellectual power, and the capacity to deal with difficult situations, all of which are desirable attributes for managers and directors. Employees who have exhibited long-term success in a position that needs tenacity, discipline, leadership, and the ability to work effectively with others will be in line for advancement within their company.
Many commerce graduates receive substantial salaries, with packages varying from department to department, due to which there are a wide range of job profiles and career sectors to pursue. Candidates with a few years of experience can be eligible for a high-paying position. Salaries are determined by the nature of the company and the type of job role that a student chooses as a career path.
Top reasons to pursue an MBA degree
Here’s why you should consider pursuing an MBA degree:
Wide range of specialisations
MBA programmes include a wide range of specialisations from human resources, marketing, operations to business analytics and more. If you have a B.Com degree and want to pursue an MBA, you can pick fields depending on your interests, core competencies, and career possibilities. An MBA is a professional degree that prepares you for the actual world of business and provides you with hands-on management experience even before you start climbing the corporate ladder.
Developing a holistic personality and managerial perspective
Pursuing an MBA helps establish and expand your managerial skills. Professionals who are outstanding managers are in high demand in the business sector. Managers can demonstrate that they are not just capable of handling critical duties, but that they are also capable leaders. Domain knowledge is always advantageous, but understanding how to manage a team and a project to reach certain goals is the need of the hour.
Guaranteed growth with a practical learning approach
The days of theoretical knowledge being sufficient for employment are gone. Companies now want experts with hands-on experience or some practical knowledge in their domain. You will be able to polish your understanding of business and management with a practical approach if you pursue an MBA after completing your B.Com or BBA. Experiential learning is the foundation of an MBA degree. Internships, live projects, industry visits, and case studies help you understand the business world.
Career options: M.Com Vs MBA
It is important to evaluate the career options that you can explore after an M.Com and MBA degree. Both degrees offer a plethora of career opportunities for a bright future. Choose the one that you think is the right fit for you.
Career options after M.Com
Here are some top career opportunities after an M.Com degree:
CA (Chartered Accountant)
After M.Com, Chartered Accountancy, or CA has proven to be one of the most popular career options due to its high value and pay scale. You can take a test as soon as you graduate from high school, but it requires serious study. To practice professionally, you must complete a 2.5-year internship after passing the three stages of CPT, IPCC and CA Finals.
If you want to work in accounting or finance, the Association of Chartered Certified Accountants (ACCA) offers a course qualification. Multinational firms place a great emphasis on the two-year programme. However, you must complete three years of practical experience before becoming an official ACCA member. Graduates of this programme are incredibly popular with multinational corporations.
If you are concerned about what to do after your M.Com, a career as a Company Secretary (CS) would be most suitable for you. A Company Secretary (CS) is responsible for ensuring that public and private sector enterprises comply with legal and regulatory obligations. Foundation, Executive, and Professional are the three tiers of the CS course. Candidates must additionally complete 15 months of practical training before becoming an Associate CS and receiving an ICSI membership.
Chief Financial Officer (CFO)
A Chief Financial officer 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, craft budgets, attesting to the high precision of reports, and consulting with CEO on strategies.
Chief Financial Analyst (CFA)
After M.Com, CFA is one of the finest professional qualifications in finance, making it one of the best career options. .. Once you have completed the three tiers of the CFA programme, you will be able to work for some of the world’s most prestigious financial firms.
Career options after MBA
Here are some career options after an MBA degree:
Marketing managers are creative professionals who are responsible for the company’s recall and reputation in the market. Print or video commercials, public speaking engagements, endorsements, and printed material are all possible pictures.
MBA is a great platform for you to enter the world of entrepreneurship. You will learn various skills with respect to innovation, strategy, and finance, which will prepare you to run your own business after graduation. You’ll also gain flexibility, which will allow you to transition from a full-time job to starting your own business.
A product manager’s job includes handling and developing new goods for an organisation or firm. As a product manager, you will be responsible for developing commercial strategies and overseeing the functional educational needs required to produce a physical or virtual product. Product managers give the in-depth product knowledge required to lead a company and make strategic product choices.
An investment banker is responsible for big, complex financial transactions, such as organising an acquisition, merger, or sale for a customer or group of clients. Investment bankers also advertise the risk of investing money in a future project and are heavily involved in raising funds through the issuance of securities.
A business analyst is a person who analyses and comprehends the demands of a business area or organisation to offer technology solutions that are cost-effective and include computer procedures. Furthermore, they manage a project’s or an organisation’s requirements and communicate them to stakeholders, facilitators, and possible partners. It is yet another excellent profession available after MBA.
MCom or MBA: Which is best for you?
- If you want to pursue a career in commerce and are interested in exploring roles like chartered accountant, financial analyst, chief financial officer and corporate secretary among others, then M.Com is the right pick for you. Else, you can go for an MBA, where you can choose from a variety of specialisations like business analytics, healthcare management and more, and also get an in-depth knowledge about how to run a business.
- If subjects like financial management and policy, economic analysis, statistical analysis, corporate tax planning and other subjects related to finance interest you, then M.Com is the right choice for you. Else, you can opt for an MBA if you want to explore subjects like marketing, finance, human resource management, data science and more.
- M.Com courses are generally more affordable than MBA courses. So you can pick a master’s degree which is pocket friendly. However, the online degrees that Online Manipal offers through top universities are budget-friendly, when compared to other online degrees.
- If you are a working professional who has prior experience in the field of commerce or related subjects, then an M.Com degree will help enhance your skills on the job. Else, opt for an MBA if you want to explore a wide range of specialisations or start your own business.
- The career prospects after pursuing an M.Com in India are excellent. The pay scale for M.Com graduates is high, and there is a demand for graduates in public and private sectors. On the other hand, completing an MBA enhances your skills, knowledge and network, which helps you explore better career opportunities and also helps you gain vast knowledge about starting your own business.
Both M.Com and MBA are highly recognised post graduate degrees that provide promising job prospects in respective fields. Based on your interests, past experiences and future career prospects, choose a degree that’s the right fit for you. If you’re looking to pursue an online master’s degree, then Manipal University Jaipur’s online M.Com and MBA courses are the right choice, as it provides a hassle-free and flexible experience. If you’re a working professional looking to pursue an online MBA, then Manipal Academy of Higher Education’s (MAHE) online MBA programme will help you find a great career.
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.
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