What Are My Options After Completing B.Com?

Bachelors of commerce (B.Com) is an undergraduate degree program that provides a foundation on different fields related to business and finance. According to All India Survey of Higher Education (AISHE), around 4.03 million students pursue B.Com. B.com is one of the most pursued degrees across the country. It helps the students to build a strong foundation in business, finance and commerce.

A student of bachelors of commerce will get a comprehensive knowledge of various subjects offered by the degree. You will be introduced to major areas of commerce like accountancy, finance, marketing, economics, management among others. This undergraduate degree focuses on a wide range of skills allowing students an understanding of the modules of commerce. 

Choosing a bachelors of commerce degree will help you in developing key business skills helping you to understand the economics of the market and how the changes in the market impacts a business. This degree also provides you with ample employment opportunities. A degree in B.com will let you learn multiple disciplines which you can choose to build a career for yourself. Hence, one option after completing your B.com is to apply for jobs in the industry. 

Below are some other options that you can pursue after completing your undergraduate degree in commerce:

Master’s in Commerce:

A master’s degree is a specialized post-graduation degree that offers specialization in finance, accountancy, taxation, banking, statistics etc. You can pursue a master’s degree in commerce after completing your graduation in commerce or any other field. 

A master’s degree can help you get a specialization within two years. A master in commerce degree will help you get a good package in the industry because of the advantage of a specialization. You can choose from fields like accounting, human resource, operations etc in which you can kickstart your career. 

The major benefits of pursuing a masters degree is that you would have an edge over others because it is a higher education degree. A masters degree will help you land a job with the the 

Country’s best of the business companies. And not only this but, a master’s degree in commerce will prepare you to be self-employed as well. If you are interested in starting your own business, an M.Com degree will help you develop entrepreneurial skills as well. 

Masters in Business Administration:

Masters in commerce and masters in business administration are two different degrees that revolve around the same world. The major difference between both the degrees is their curriculum. Masters in commerce provides you with a specialization in the field of commerce and finance, whereas a Masters in business administration will help you get a broader knowledge of the business world including management, marketing, human resource, operations. 

Masters in business administration (MBA) is the most recognized postgraduate degree around the world. Even students from diverse education backgrounds opt for the MBA degree because of its wide scope in the industry. An MBA graduate has a prosperous career in the industry. This post graduate degree in business administration provides students with a wide range of modules effective in the business world. 

Universities globally offer a masters degree in business administration and some even have an entrance test to enroll in the degree. In India, students need to clear the Common Admission Test (CAT) entrance exam. In 2023, 2.88 lac students appeared for the CAT examination out of 3.28 lac registered candidates. 

Chartered Accountancy

The term chartered refers to having an authority provided by the government or a professional body. In other words, chartered means to have cleared required exams and training.

Chartered accountancy is a professional course that provides you with the skills to manage an entity’s finances. A CA is a reputed profession who manages the finance, handles the taxation and audit financial statements of the company. CAs have in-depth knowledge and are trained in this respective field after clearing a number of examinations especially framed for enroll in chartered accountancy. 

The course in chartered accountancy is administered by Institute of Chartered Accountants of India (ICAI). They set the examination every year so eligible candidates can enroll themselves for further training in the field. Currently there are 8.32 lac active students of chartered accountancy in India. 

A CA can run their own firm or work with a company. They can also opt to handle financial accounts of various sole proprietor firms simultaneously. 

Certified Management Accountant:

One more option you can consider pursuing after you B.com is becoming a certified management accountant (CMA). A CMA’s profile includes managing accounting and finances. This certification is offered by Institute of Management Accountants (IMA). To enroll for this certification you have to pass the two part entrance exam, first, Financial reporting, planning, performance and control; second, Financial decision making. Both these exams are conducted to check the eligibility of the candidate. 

You can pursue your career as a management accountant, financial analyst, cost accountant, consultant. A certification in management accounting will help you pursue your goals in the world of finance. 

Certified Public Accountant:

Certified Public Accountant is a professional designation and is similar to CMA but with a broader prospect as it is accepted globally. To get certification as a CPA, you need to clear exams, namely, Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). 

The difference between a Chartered Accountant and a Certified Public accountant is the career fields that they opt for after completing their certification. A CPA can choose a career path in various fields like, public accounting, corporate accounting, government accounting, forensic accounting, financial planning and analysis, whereas CA would be more recognized in the auditing and taxation world. 

Chartered Financial Analyst:

Accountancy itself is a vast term that includes auditing, management, operations, analysis. We have mentioned Chartered accountant, Certified Management Accountant and Certified Public Accountant as two different professions, there is one more profession on the same grounds that goes by the name of Chartered Financial Analyst.

The Chartered Financial Analyst (CFA) designation is also a globally recognized certification offered by the CFA Institute. It’s highly regarded in the field of finance and investment management. There are three levels of exam that a candidate has to clear sequentially:

• Level I: Focuses on basic knowledge of investment tools, ethics, and professional standards.
• Level II: Emphasizes the application of investment tools and analysis, focusing on asset valuation.
• Level III: Focuses on portfolio management and wealth planning, integrating concepts and analysis.

You can choose investment management, wealth management, investment banking, risk management, corporate finance as your career prospects. 

Skill based courses:

B.com is a field that gives you an overview of the business world. You do not have to stick to finances and commerce when you have options of other relevant fields as well. The introduction of skill based courses has made it easy for people to make creative career choices for themselves. Diving into the skill based courses help you to experiment in various fields and keep up with the latest trends in the business world. 

One such field that gives you liberty to have an edge over traditional career choices, is digital marketing. The other field is web development. The current trend of the business world is inclined towards digital platforms which makes digital marketing a well-paying career option. If you have recently graduated from B.Com, you can consider opting for courses that will help you get equipped with the fundamentals of digital marketing.

Digital marketing offers various fields like, social media management, email marketing, digital advertising, search engine optimization among others that you can explore. You can choose certified academies that provide you such skill based courses so you can step into the business world. 

CONCLUSION:

The dilemma of choosing the best path after graduation is always bestowed upon a student. It is crucial to consider that you need to select a path that aligns with your interests. Engage in extensive research about the course you plan to opt for so you can have a clear idea of what you are getting yourself into. The educational path that you are deciding to take should be a well enough option in order to help you get employment. Having prior knowledge in finance will help you get a better understanding of all the courses stated above.