12 Best Career Options after M.Com

After earning their M.Com, many candidates ask what professional route is ideal for them. Numerous universities in India offer the two-year Master of Commerce programme. This degree-level programme aims to provide students a greater comprehension of concepts like commerce, accounting, taxation, banking, finance, and insurance. There are multitude of job alternatives accessible, and students frequently wonder what to do after finishing their MCom. Students who earn an M.Com degree frequently decide to work in industries like banking, finance, and insurance after graduation. If one does not have the requisite knowledge about the many career alternatives after earning an M.Com degree, it may be difficult to get employment after graduation. One can choose the best profession choice by having a list of all the options and knowing what best aligns with their long-term interests and career goals.

You may be a recent graduate who is unsure of your next steps after earning your M.Com. This article seeks to guide you through the many job possibilities that are open to you once the programme is over. Along with learning about numerous management and business-related topics, you would also have acquired the skills needed to launch a prosperous career after choosing one of the 12 career pathways mentioned in this article. You must go through this entire article if you're curious about your prospects for a profession after earning your M.Com.

M.Com Specializations

There are ample opportunities across the industry for someone who has an M.Com degree. However, it completely depends on the specializations that the candidates have selected during their M.Com program. Listed below are some of the top M.Com specializations that will help you land a high-paying job. 

M.Com in Computer Applications: A two-year postgraduate degree in MCom Computer Applications provides students with both computer and business knowledge. The degree will instruct students on all the technical aspects of computer programmes and how to use them in the corporate world after they graduate. This course combines business and computer applications, assisting the students in developing their intelligence and employability. Additionally, training in computer applications for the business world gives job candidates an edge. The functioning of the business and IT fields will be well understood by the students through this specialized postgraduate degree course.

After the completion of the degree course, you can work in the financial industry, the IT industry, educational institutions, computer training centers, computer repair shops, etc. Additionally, you might work as a computer operator, specialist in computer applications, computer scientist, accounting assistant, etc.

M.Com in Accounting and Finance: The study of accounting principles, financial planning, economic theory, commerce and its features, and the policies related to it are all covered by the MCom Accounting and Finance programme. The two-year PG program's main emphasis is the methodical study of concepts in specific disciplines and themes connected to the domains of accounting and finance. Financial planning, economic theory, and knowledge of banking systems and policies are a few of the topics covered in the course. Candidates can work as stock brokers,  accounts managers, financial consultants, and business consultants, among other positions, after completing this postgraduate degree programme.

M.Com in Human Resource Management: A two-year PG programme called the Master of Commerce in Human Resources Development, or M.Com in HRD, teaches students how to successfully analyze, manage, and develop human interactions. The course's primary goal is to equip a study stream with the knowledge, abilities, and attitude needed to hold managerial and administrative roles in both the public and commercial sectors. Candidates who want to work in corporate houses, multinational corporations, banking and financial institutions, as well as the public and private sectors of industry, should consider pursuing an M.Com in Human Resource Development.

M.Com in Marketing: The full-time, two-year Master of Commerce (M.Com) in Marketing programme emphasizes a variety of marketing-related topics, including consumer behavior, functional areas of marketing, marketing research, marketing management, etc. In contrast to the MBA, which focuses on preparing students to hold key managerial positions in business organizations, the M.Com primarily concentrates on enhancing the student's theoretical knowledge of commerce. Marketing, advertising, analytics, business administration, private organizations, specialized sectors, etc. are among the fields where M.Com Marketing graduates are engaged.

A few of the top job profiles after the completion of this degree include the following:

• Marketing Operations Specialist
• Communications Manager
• Public Relations Manager
• Management Associate
• Business Manager, etc.

M.Com in Foreign Trade Management: A postgraduate course in foreign trade is M.Com Foreign Trade Management, often known as Master of Commerce in Foreign Trade Management. Globalization, the scope of export marketing, the need for the importance of international marketing, the difference between domestic and international marketing, and other topics are covered by foreign trade management, which is concerned with the arts. There are four semesters in the course syllabus. The Master's degree programme is significant and opens up a wide range of job opportunities for graduates. 

Graduates of this course can find employment in areas such as Export Companies, Public Sector Houses, International Banks and Companies, Educational Institutes, Banks, and Ports & Harbors, etc. Candidates after the completion of this course can work in varied job positions like: Budget Analyst, Operations Manager, Investment Banker, Marketing Manager, Equity Research Analyst, Business Analyst, and Money Manager, etc.

M.Com in International Business: A postgraduate degree programme called Master of Commerce in International Business, or M.Com IB, focuses on corporate tactics that are concerned with sensitive international trade relations or issues. The M.Com in International Business degree prepares students for a profession with greater responsibility by emphasizing diversity, multicultural issues, and global business methods. After the course completion, graduates can find employment in various sectors as mentioned below:

• International Markets
• Finance Sector
• Marketing Firms
• Securities Firms
• Banking Sector
• Research Institutes
• Educational Institutes
• Export/ Import Industries
• Trade Companies, etc

Graduates of this degree can work in varied job profiles as mentioned below:

• Business Development Manager
• Business Development Specialist
• International Business Developer
• Business Development Executive, etc.

M.Com in Banking and Insurance: It is a two-year full-time postgraduate degree course that focuses on studying the fundamentals of banking, accounting, insurance law, banking law, insurance risk, and insurance regulations, among other such topics that are covered by banking and insurance management domain. In other words, the M.Com Banking & Insurance Management degree programme focuses primarily on the systematic study of the concepts in the specialized disciplines and issues related to Banking & Insurance construction, aside from a general course study in Commerce. A few of the employment areas after the completion of this degree include the following:

• Indian Economic Services
• Insurance Industry
• Mortgage Companies
• Automobile Industry, etc.

A few of the top job profiles for this degree include the following:

• Internal Auditor
• Development Officer
• Loan Counsellor
• Loss Control Specialist
• Investment Banker
• Insurance Manager
• Investment Analyst, etc.

M.Com in Finance: A specialization in Finance will land you jobs like Management Consultant, Banker, Financial Analyst, Stock Broker/ Trader, etc.
M.Com in Economics: With an M.Com degree specializing in Economics, one can become an Economist, Credit Analyst, Market Research Analyst, Statistician, Financial Analyst, Lecturer, etc.
M.Com in Taxation: Jobs after getting an M.Com degree specialising in Taxation include becoming a Financial Advisor, Tax Law Court Advisor or working as a Tax Accountant, Tax Consultant or Financial Analyst. 

12 Best Career Options after M.Com

Compiled below are some of the best career options that you can explore after completing your M.Com degree. 

1. Become a Chartered Accountant

One of the most sought-after career options after completing M.Com is becoming a Chartered Accountant. With dedication and proper preparation, one can clear the CA exam. The various stages of the exam include IPCC, Final and CPT and a mandatory articleship to practice as a professional. 

The talented CA graduates can find themselves placed at one of the Big 4 accounting firms - Deloitte, KPMG, EY and PwC with an annual salary of around 8 LPA. CA is one of the best career options if you want to get a high-paying job. Other firms that hire CA graduates are McKinsey & Company, Inc., ICICI Bank, etc. 

2. Enroll in MBA

Getting enrolled in an MBA program after completing M.Com is a great option and is also seen as a recent trend among graduates. Individuals who are looking to set their foot in the managerial field and advance their careers should do an MBA. People from any field, not just Commerce, can do an MBA program. 

While doing M.Com, candidates will study to subjects like business, economics, stock markets and accountancy but when you pursue a Masters in Business Administration, you will get to apply the knowledge and skill to help grow the firm/ organization.

The MBA programs help develop the critical thinking and decision-making skills of individuals by offering a case study approach. Individuals can specialize in a particular field such as Digital Finance, Banking and Business Analytics. An MBA graduate earns around 7.2 LPA annually. 

3. Go for an ACCA Course

Candidates who wish to work in finance and accounting departments as Certified Accountants can pursue the ACCA course provided by the Association of Chartered Certified Accountants (ACCA) institute. 

The ACCA course is for a duration of 2 years but candidates need to complete 3 years of practical experience to be able to become an official ACCA member.  Knowledge of accounting is required to clear these exams. Multinational corporations highly value the ACCA course and offer a salary ranging from 5 LPA to 16 LPA. 

4. Pursue CS

After completing M.Com students can opt for Company Secretary (CS) as it offers good job opportunities. A CS looks after the legal requirements of various private and public companies. The CS course includes three stages - Foundation, Executive, and Professional. 

After completing 15 months of practical training, candidates can become members of the Institute of Company Secretaries. In India, the Institute of Company Secretary is the only institute that offers the CS course with 62,000 members. The pay scale of a CS ranges from 4 LPA to 10 LPA per year. 

5. Get CMA Credential

The CMA or Certified Management Accountant credential is a professional qualification requiring the candidates to complete 2 years of work experience and 2 stages of examination. The IMA (International Management Accountants Association), a universally recognized organization provides the CMA qualification. 

The CMA course recognizes candidates for their expertise in two core areas - Financial Management and Management Accounting. Those who complete the course successfully are required to have the necessary skills and knowledge of management accounting. CMA-certified individuals should have knowledge in financial analysis, control and planning. The average annual salary of a CMA-certified individual is 8 LPA. 

6. Pursue CFA Course

After M.Com, CFA (Chartered Financial Analyst) is one of the best courses to pursue. Candidates who aspire to become financial analysts can go for CFA, a US-based program, and get great opportunities. The CFA course covers subjects such as financial analysis, bonds and derivatives, portfolio management, investment management, etc. 

The CFA course is for a duration of 2.5 years but usually, it takes 4 years to get the Chartered Financial Analyst designation. After completing the CFA course, candidates can get hired at top financial firms such as Morgan Stanley, Goldman Sachs, Royal Bank of Canada, etc. and get a yearly salary of 6.6 LPA. 

7. Get a CPA License

One of the promising career options after M.Com is getting a CPA (Certified Public Accountants) certification. The CPA designation can get obtained from the American Institute of CPAs or AICPA. Individuals having a CPA license have in-depth knowledge of the Generally Accepted Accounting Principles (GAAP) and strong accounting background. To get the CPA certification, candidates have to first complete a four-part examination. 

CPAs manage the financial affairs of the companies by performing financial statements. They also provide financial planning and taxation advice and earn 6.9 LPA annually.

8. FRM Certified Professional

Risk Management is one such industry that provides excellent opportunities for short-term perspective in today’s dynamic financial market. To earn the FRM designation, candidates have to undergo a nine-month program provided by the Global Association of Risk Professionals or GARP. The program prepares students for the examinations that are conducted in May and November every year. 

As a financial risk manager, candidates identify and analyse potential financial risks and offer services in diverse domains such as credit and market risk, financial services, sales and marketing, and trading. The average salary of FRM professionals is between 10 LPA to 18 LPA. 

9. Crack CFP Exam

M.Com graduates prefer to study the CFP (Certified Financial Planner) course. CFP is a short-term course that will help candidates find their careers in the insurance and finance sectors. Although the course duration is six months, to become a certified financial planner, candidates have to perform well and meet various requirements. These requirements include professional ethics, educational performance and demonstrated work experience. 

With a CFP certification apart from handling tax planning and insurance decisions, candidates can also take up assignments in investment management, estate planning, etc and earn around 3.9 LPA.

10. Go for Digital Marketing

Candidates who are not interested in working in finance or accounting after getting an M.Com degree are often left wondering what to do after the degree. There are many creative professions that are available after M.Com. One such profession after M.Com is Digital Marketing.

Digital Marketing is a part of marketing that utilises the power of the internet to promote products and services. Due to the increasing popularity of this field, it is expected to grow with each passing year. There are various types of courses available for students who are interested in pursuing a career in digital marketing. The courses include search engine optimization, social media management, and marketing analytics. Some of the well-known institutes that offer these types of courses include MICA and upGrad.

Knowledge of Digital Marketing will help you to get into a highly promising career as in the current work environment, everyone, starting from corporate people to startups to ad agencies is looking out for digital marketers. A digital marketing professional in India can expect to earn around 5 LPA while managers can earn up to 15 LPA depending on their job profile. 

11. Get CIB Certified

CIB or Certificate in Investment Banking is a six-month course for graduates who want to increase capital for firms by selling equity and issuing debt. The valuation exam of CIB is a globally recognised examination that evaluates whether candidates can utilise systematic and strategic approaches to establish the valuation of listed and unlisted companies. Selecting the proper valuation forms a critical part of investment decisions relating to Initial Public Offerings, mergers, acquisitions, and other corporate actions. 

Candidates can opt for the CIB course right after their B.Com but having an M.Com degree will make it easier for them to learn the coursework, which contains themes of asset management, equity research, hedge funds, corporate finance strategy, and private wealth management. The average annual salary for a CIB-certified professional can be around 9.6 LPA in India. 

12. A career in Teaching and Research

Consider pursuing a doctorate in one of these areas if you're interested in learning more about the numerous aspects of trade and business. Finance, operations research, and human resource management are a few of the significant professions that are frequently connected to doctoral degrees. An excellent place to start is by looking for a study abroad programme that matches your interests. Additionally, it could aid in getting a job following graduation.

For students with remarkable research skills in subjects like economics, management, and commerce, in addition to JRF, there are numerous international and national scholarships available. A PhD programme is strongly advised if you want to work as a lecturer in higher education. A two-year B.Ed degree would be a better option, though, if teaching school students is your area of high interest.

Also Read:Confused between MBA and M.Com? What to Do?

Bonus Jobs after M.Com

After completing the M.Com degree, graduates get well-equipped for the work of an Auditor, Cost Accountant, Consultant, Tax Accountant, etc. Some of the high-paying career options after M.Com are listed below.

• Cost Accountant: A Cost Accountant is a finance specialist who evaluates the expenses related to providing a service. The responsibilities of a Cost Accountant include analysing a budget to make it profitable and examining the total profit and loss report. Even though the Cost Accountant gains knowledge of Cost and Management Accounting during the M.Com course, different professional courses will help them land a good high-paying job. 

• Tax Consultant: The main responsibilities of a Tax Consultant include guiding people/ organisations with tax-related queries and helping them in tax optimization. Taxes comprise estate, income, capital gains, etc. With an M.Com degree, individuals can get jobs in a tax consultancy firm but having an LL.B degree will increase the chances of getting a job at taxation firms to manage finance and tax matters. 

• Sales Analyst: After getting your M.Com degree, the chances of getting a job that pays you well will automatically increase. One such job is the role of a Sales Analyst, who is hired by a firm/ organization to analyse the past trends of sales. Sales Analysts are in demand as the sales analysis will boost the company’s business. One of the important duties of a sales analyst apart from preparing reports is to identify new sales trends emerging in the market and undertake marketing campaigns. An M.Com degree holder with a keen interest in sales and marketing can get a job as a Sales Analyst. 

• Investment Banker: Investment Bankers are professionals who work as part of a financial organisation and help corporations, governments and other entities raise capital through different sources. Financial institutions appoint Investment Bankers to study the financial health of the organisation and recommend strategies to manifest them. An individual with an M.Com degree and an interest in the investment sector can get a job as an Investment Banker. 
• Chief Financial Officer: The top financial position in an organization is held by the chief financial officers. Based on financial and operational data and reports delivered by the finance and accounting teams, they are in charge of anticipating the organization's financial position and advising the CEO and board on strategic direction. They earn average annual salaries between INR 8,00,000 and INR 26,00,000 in India.
• Financial Analyst: A financial analyst's job is to help organizations and groups maximize their financial resources. They offer direction and recommendations regarding how much they ought to put toward equities or bonds. They evaluate which assets will yield the best return relative to their value. The average annual salary of a financial analyst ranges between INR 6,00,000 to INR 20,00,000 in India.
• Operations Manager: An operations manager is a specialist who makes sure that everything goes without a hitch from day to day. They address customers' demands for cost-effectiveness while maximizing processes and procedures. The average annual salary of an Operations Manager ranges between INR 8,00,000 to INR 20,00,000 in India.

Best Government Jobs After M.Com 

The best employment choices after earning an M.Com are available in government, at all levels. Being an officer in a government bank or corporation's finance, accounting, or management division is the first step in obtaining a government position. A candidate should pursue an M.Com degree from an approved college if they want to advance in a government position. Opportunities for M.Com graduates abound in the government banking sector. Here are some government employment opportunities in the financial sector for recent M.Com graduates:

UPSC Jobs: One of the exams the Union Public Service Commission administers to find qualified candidates for the Indian civil services, including the IAS, IPS, IFS, and other associated services, is the UPSC Civil Services Examination (CSE). The UPSC Prelims, UPSC Main, and the personality test or UPSC Interview are the three parts of this exam. IAS employees receive a base salary that starts at INR 56,100 before HRA, DA, and other benefits. An additional INR 2,50,000 is possible for a Cabinet Secretary position along with other perks and benefits. A career after clearing UPSC is extremely fulfilling and highly rewarding.

Railway Jobs: Railways department opens up several vacancies at various levels for the aspiring candidates. M.Com graduates can start preparing for a railway post exam and if they are selected, they can enjoy a lucrative career with a handsome salary and a lot of perks among other benefits. A career in railway is not only safe but one of the highly reputable careers in India.

Bank Jobs: M.Com degree holders are required by many public sector banks to fill the post of management trainees. One will need to pass a centralized bank exam for the position, which will be followed by an interview. Bank jobs are a very secure, highly paid and stable career option for the fresh M.Com graduates.

Popular Employment Sectors after M.Com

A person with an M.Com degree can work in the private and public sectors both. The job opportunities for an M.Com graduate is rising in sectors such as:

• International Banking
• Investment Banking
• Tax Advisory Services
• Financial Services
• Insurance Industry
• Insurance Services
• Commercial Banking
• Accounting and Auditing
• Economic Consulting Firms
• Educational Institutes
• Customs Department
• Government Services

Top Colleges offering M.Com Degree

Some of the most well-known colleges in India along with the fee structure where candidates can study M.Com are listed below.

Also Read:Best B.Com & M.Com Courses in 2022, List of Commerce Courses, Honours Subjects, Specializations

So, the aforementioned are some of the fantastic employment alternatives that will enable you to follow your ambitions after receiving your M.Com. By deciding on your preferred field of M.Com specialization, you can go on to work in domains related to your chosen field of study. What work options are there following an MCom is a question that we hope this article has addressed.

It's necessary to first check the numerous aspects affecting the performance of the course before you start thinking about what you want to accomplish after earning your M.Com. Time commitment, degree of difficulty, and cost are a few of these. You can immediately find a fantastic job by taking the finest courses after your M.Com.

After earning your M.Com, completing this article will make it simple for you to determine your employment alternatives. It is advisable to learn as much as you can about the many job choices you have available to you.

To make the application process for the M.Com program hassle-free, do not forget to either dial 1800-572-9877 (toll-free) or fill up the Common Application Form.

Stay tuned to CollegeDekho for more updates on M.Com career prospects!