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12 Best Career Options after M.Com

Aindrila
AindrilaUpdated On: September 30, 2022 02:22 pm IST

After completing M.Com, candidates can explore some of the most lucrative career options. The job scope after M.Com has been expanding constantly in the last few years. Go through this article to know more about the 12 best career options after M.Com.

12 Best Career Options after M.Com

Students who are in their B.Com program and thinking of getting an M.Com degree must know that the PG course will open many opportunities for them. M.Com (Masters of Commerce) is a 2-year postgraduate degree in the field of Commerce. This commerce course is designed in a way for candidates to get a deeper understanding of the subjects that are taught in the B.Com program. Students get in-depth knowledge of Commerce subjects such as Accounting, Finance, Banking, Management, International Business, Business Environment, Insurance and many more such subjects. 

M.Com is quite a popular postgraduate degree program and many colleges in India offer the M.Com course. After completing M.Com, students often wonder what career to choose in professional fields such as banking, insurance or finance. It can sometimes be tricky to choose between the pool of opportunities available for M.Com graduates. 

This article will be your guide to help you find the best career options after M.Com. There are plenty of opportunities if one wants to grow and develop. Read the article to know more about the different fields you can choose to build a successful career and the 12 best career options after 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. 

1. Banking and Insurance: Banking and Insurance is one M.Com specialization where candidates can get decent jobs with a good pay. Candidates can work as Insurance Managers, Internal Auditors, Development Officers, Investment Analysts, Loss Control Specialists, Loan Counsellors, etc. 

2. Finance: A specialization in Finance will land you jobs like Management Consultant, Banker, Financial Analyst, Stock Broker/ Trader, etc.

3. Economics: With an M.Com degree specializing in Economics, one can become an Economist, Credit Analyst, Market Research Analyst, Statistician, Financial Analyst, Lecturer, etc.

4. 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

Candidates who are interested in Business and Commerce subjects can enter the research field. A PhD degree can be obtained in subjects like Finance, Operations Research, Statistics, Organizational Behavior, Human Resource Management and other related subjects. After getting a degree in M.Com, people also think of studying abroad with a preferable subject. 

Apart from JRF, various other national and international scholarships are available for students who have high research capabilities in fields like economics, commerce and management. To become a university lecturer, candidates must get a PhD degree. Those who want to teach school students must get a 2-year B.Ed degree. 

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. 

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

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.

FAQs

Which M.Com specializations will offer me a high-paying job?

The M.Com program offers specializations in different fields such as Banking and Insurance, Finance, Economics and Taxation. Almost all of these specializations offer high-paying jobs to commerce students. A candidate studying Banking and Insurance can work as an Insurance Manager, Internal Auditor, Development Officer, Investment Analyst, Loss Control Specialist, Loan Counsellor, etc. Whereas, a Finance specialization will get you Management Consultant, Banker, Financial Analyst, or Stock Broker/Trader job. People who study Economics in their M.Com course become Statisticians, Financial Analysts, Economists, Credit Analysts, Market Research Analysts, etc. Taxation is a specialization which is quite popular among students that will help you become a Financial Advisor, Tax Law Court Advisor, Tax Accountant, Tax Consultant or Financial Analyst.

What is the ACCA course?

Individuals who want to become Certified Accountants need to complete the ACCA course provided by the Association of Chartered Certified Accountants (ACCA) institute. Although the two-year course is highly considered by multinational companies, candidates will still need to complete three years of practical experience before they can become official members of the association. The minimum educational qualification required is a 10+2 degree for the course. Students who are not from the M.Com background can also pass the examination with the necessary knowledge and skills in accounting.

What do I need to study after M.Com to become an Investment Banker?

There is no need to get any extra degree after M.Com to become an Investment Banker. With your M.Com degree, you can easily apply for Investment Banker jobs if you have an interest in the investment banking field. Investment Bankers are hired by financial institutions to analyse the financial health of an organisation, its capital needs, and goals. The main responsibility of an investment banker is to help organizations, governments and other entities to raise capital through different sources. They act as a bridge between organizations that need to raise capital and individuals who want to make financial investments. 

After completing M.Com, can I work as a Stock Broker?

It is not mandatory to have a B.Com/M.Com degree to become a Stock Broker. Stock Brokers are shareholders who provide financial advisory services. They execute stock trades on behalf of shareholders for the purchase of stocks, debentures or financial securities and in return charge a fee or commission for their services. To work in sync with the clients, stock brokers need to have excellent communication and interpersonal skills. The starting salary of a Stock Broker is around INR 4 LPA.

What is the work of a Chartered Accountant?

A Chartered Accountant reviews financial reports/bills and organises the finances of an organisation regarding its spending and investments. With the help of a CA, an organisation finds it easy to make business decisions to decrease spending and upscale production to increase income. The average annual salary of a Chartered Accountant in India is INR 8 LPA. 

In which sectors can M.Com graduates work?

Among a plethora of career options, people having a degree in M.Com need to choose their field of interest. Jobs available for commerce students pay decent salaries to the candidates. After completing your M.Com degree, the various sectors where you can work are 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 and Government services. 

What are the top colleges that offer an M.Com degree?

In India, there are lots of colleges that offer the M.Com degree to students. Some of the top colleges offering M.Com degree programme are: M.O.P. Vaishnav College For Women (Chennai), Narsee Monjee College of Commerce and Economics (Mumbai), Sri Venkateswara College (New Delhi), Mount Carmel College (Bangalore), Delhi College of Arts & Commerce (New Delhi), St. Xaviers College (Kolkata), Goenka College of Commerce and Business Administration (Kolkata). You can check our website to get more details about the colleges offering the M.Com degree. 

Who are the top recruiters of the M.Com degree?

M.Com graduates are spread across different sectors including Banking, Sales, Finance, etc. Graduates can immediately start working after their Master's or can opt for professional certification courses like CMA, CA, CPA, CFA, CS, etc. The top recruiters of M.Com graduates are:

  • Deloitte
  • PwC
  • KPMG
  • Ernst & Young
  • ICICI Bank
  • HDFC Bank
  • RBS
  • IndusInd Bank, etc

Which job will be best after completing M.Com?

After the M.Com degree, jobs related to accounting and finance will be best but that completely depends on the candidate’s interest. Some like insurance or banking and look for jobs in those sectors. Almost all jobs in the accounting, finance, insurance, and banking sector offer good pay. With additional degrees or courses, you will certainly climb the career ladder. 

Is it necessary for B.Com graduates to get an M.Com degree?

It is not necessary to get an M.Com degree after completing B.Com but higher studies will add value to your resume. You might get a job with a B.Com degree but after completing your Masters the chances of getting better job opportunities increase. After M.Com you can even go for certificate courses where your chance of getting a high-paying job will automatically rise. The more you earn degrees and increase your qualification, the greater your chances of getting a high-paying job. 

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Related Questions

Is MBA course available in Sarala Devi collage Bellary?

-TinaUpdated on November 28, 2022 03:04 PM
  • 4 Answers
Rahul Raj, Student / Alumni

Dear Student

Smt. Saraladevi Satishchandra Agarwal Government First Grade College (SSSAGFGC), Bellary does not offer any MBA Course. The college offers admission only in bachelor and master program in science, commerce, arts and computer application. Some of the course offered by the college are B.Sc, B.Com, BBA, BA, BCA, MA and M.Com. Admission to most of the courses will be done on the basis of student performance in the qualifying exam. You can apply to the college by filling the application form available on the official website of the college. 

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