MCom vs MBA: What to choose after your graduation? 

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 MCom 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. 

Read more: Top online master’s degrees in 2024

What is MCom? 

MCom (Master of Commerce): MCom is a postgraduate academic degree that focuses on advanced studies in commerce, economics, and finance. It offers specialized knowledge in areas such as accounting, business law, and corporate governance. MCom programs often include research components and are suitable for those aspiring to roles like accountants, auditors, and financial analysts.  

Get to know more details about M.Com. 

What is an MBA? 

MBA (Master of Business Administration): MBA is a postgraduate degree emphasizing diverse aspects of business and management. It equips students with strategic thinking, leadership skills, and a holistic understanding of marketing, finance, human resources, and operations. MBA graduates pursue roles in leadership and management across various industries. 

Here are the MBA course details. 

MCom vs MBA: An overview 

Aspect	MBA	MCom
Level of degree	Master’s	Master’s
Duration	1-2 years (varies by program)	2 years
Fee range	INR 1,00,000 – 20,00,000	INR 30,000 – 2,00,000
Eligibility	Bachelor’s degree + Entrance Exam (CAT, MAT, etc.)	Bachelor’s degree in commerce or related field
Who should pursue it	Aspiring managers, entrepreneurs, career switchers	Those interested in advanced studies in commerce, finance, and related fields
Key subjects	Marketing Management, Financial Accounting, Operations Management, Strategic Management, Human Resource Management	Accounting, Economics, Business Law, Banking, Corporate Governance
Skills gained	Leadership, strategic thinking, decision-making, communication, financial management & analytical skills	Specialized knowledge in accounting, financial management, and commerce-related skills
Top jobs available	CEO, CFO, Marketing Manager, Operations Manager, Business Analyst	Accountant, Auditor, Financial Analyst, Tax Consultant, Banking Professional
Top hiring companies	Tata Consultancy Services, Accenture, Infosys, ICICI Bank, Amazon, IBM	Ernst & Young, Deloitte, PricewaterhouseCoopers, KPMG, HDFC Bank, Reliance Industries
Modes of learning available	Full-time, part-time, online, distance, executive MBA	Full-time, part-time, online, distance Learning

Also read: BBA or BCom: What to do after 12? 

Reasons to pursue: MCom Vs MBA 

M.Com and MBA are recognized among the most prestigious postgraduate programs in India and worldwide. Whether you want to explore a career in finance, or jump to marketing or entrepreneurship, you can choose between an MCom 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 specialized master’s degree that helps learners explore high paying careers in corporate.. Aspirants for the business sector benefit from specializing 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: 

• Education
• 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 
• Law firms

You may like to know more about jobs after M.Com 

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. 

Higher salary 

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. 

Find out more reasons to pursue an M.Com degree. 

Top reasons to pursue an MBA degree 

Everyone will have different reasons to pursue an MBA program. Here’s why you should consider pursuing an MBA degree: 

Wide range of specializations 

MBA programs include a wide range of specializations from human resources, marketing, finance, data science, healthcare management,  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.  

Career 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. 

Entrepreneurial opportunities

An MBA degree is a great option for individuals who are aspiring entrepreneurs. An MBA degree helps individuals understand how to manage people & organizations, gives insights into various aspects of business 

Career opportunities: MBA vs MCom

It is important to evaluate the career options that you can explore after an MCom 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 MCom 

Here are some top career opportunities after an MCom 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.  

ACCA 

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 program. However, you must complete three years of practical experience before becoming an official ACCA member. Graduates of this program are incredibly popular with multinational corporations. 

Find out the ACCA subjects covered in a BCom course. 

Company Secretaryship 

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 program, 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: 

Product manager 

A product manager’s job includes handling and developing new goods for an organization 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. The average salary of a Product Manager in India is INR 21 LPA.

Investment banker 

An investment banker is responsible for big, complex financial transactions, such as organizing 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. The average salary of an Investment Banker in India is INR 18 LPA.

Business analyst 

A business analyst is a person who analyzes and comprehends the demands of a business area or organization to offer technology solutions that are cost-effective and include computer procedures. Furthermore, they manage a project’s or an organization’s requirements and communicate them to stakeholders, facilitators, and possible partners. It is yet another excellent profession available after MBA. The average salary of a Business Analyst in India is INR 9.6 LPA.

Marketing manager 

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. The average salary of a Marketing Manager in India is INR 13 LPA.

Entrepreneur 

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. 

Here are the top career options for MBA graduates. 

MCom or MBA: Which is best for you? 

The choice between pursuing an MCom (Master of Commerce) or an MBA (Master of Business Administration) depends on various factors, including your career goals, interests, and the skills you want to acquire. Here are some considerations to help you decide which is best for you: 

Choose MCom if: 

Interest in commerce: If you have a strong interest in subjects like accounting, finance, economics, and business law, MCom might be a better fit. MCom programs provide in-depth knowledge in these areas. 

Specialized knowledge: MCom is more specialized in commerce-related fields. If you want to become an expert in accounting, taxation, or financial management, MCom offers a focused curriculum in these areas. 

Professional qualification: MCom is a suitable choice if you are aiming for professional qualifications such as Chartered Accountant (CA), Cost and Management Accountant (CMA), or Company Secretary (CS). 

Academic pursuits: If you enjoy academic research and want to explore theoretical aspects of commerce, MCom programs often involve a research component. 

Choose MBA if: 

Broad business perspective: If you are interested in a broader understanding of business and management, an MBA is designed to provide a holistic view of various business functions, including marketing, finance, human resources, and operations. 

Leadership aspirations: If you aspire to leadership roles such as CEO, CFO, or senior management positions, an MBA can equip you with strategic thinking, decision-making, and leadership skills. 

Entrepreneurial goals: If you plan to start your own business or work in entrepreneurship, an MBA can provide you with the skills and knowledge needed for business planning, innovation, and entrepreneurship. 

Networking opportunities: MBA programs often offer extensive networking opportunities with industry professionals, alumni, and fellow students. If networking is crucial for your career, an MBA can provide a valuable network. 

Career flexibility: MBA graduates often have greater career flexibility, with opportunities in diverse industries. If you are uncertain about a specific career path, an MBA can open doors to various roles. 

These signs will tell you if an online MBA is suited for you or not. 

Conclusion 

Both MCom and MBA are highly recognized 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 the online courses MCom and Online MBA programs offered through Online Manipal 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 program will help you find a great career.