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M.Com vs MFA: Top Colleges, Course Fee, Average Salary

Cyril Titus Zachariah
Cyril Titus ZachariahUpdated On: July 15, 2020 11:56 am IST

Confused between M.Com vs MFA? Check out the major differences and similarities between the courses such as the eligibility criteria, admission processes, syllabus and the career scope. You can learn more about the top commerce colleges that offer M.Com and MFA courses in India.

M.Com vs MFA: Differences and Similarities

The field of commerce is vast with a number of specialisations to choose from and an extremely impressive career scope. While an aspirant of the field will be able to build a lucrative career path for himself or herself with a bachelor's degree alone, pursuing a Master’s degree will only add to the existing qualification needed to build a good resume. Among the many degrees on offer, aspirants choose to either pursue a Master of Commerce (M.Com) or a Masters of Finance and Accounting (MFA).

One of the more commonly opted options after pursuing a postgraduate degree in the field of commerce is to pursue a Junior Research Fellowship or attempting UGC NET, or going for a doctoral programme in the field. However, there is a dearth in the number of specialists in the field of commerce, which may give that extra edge a prospective employee might need during recruitment.

In this article, we shall discuss the difference and similarities between M.Com and Masters of Finance and Accounting (MFA). Through the article, you may check out the eligibility criteria, admission processes, and the career scope of pursuing either M.Com or MFA as a PG degree.

Table of Contents

About M.Com Vs MFAEligibility Criteria: M.Com vs MFA
Course Syllabus - M.Com vs MFAAdmission Process: M.Com vs MFA
List of Top Colleges in India for M.Com and MFACareer Scope and Job Opportunities - M.Com vs MFA

About M.Com Vs MFA

Course Features M.Com MFA
About

Master of Commerce or M.Com is one of the commonly opted options for many aspirants who wish to pursue a lucrative career, especially in the field of research.

The Master of Finance and Accounting is among the various specialised commerce courses offered in India, training and producing highly skilled professionals in the field of finance and accounting.

DurationM.Com is a 2-year degree programme, offered in many top M.Com colleges in India.Like M.Com, an MFA degree is a two-year postgraduate degree, offered in many top finance colleges in India.
Further StudiesLike many other postgraduate courses in India, For decades, many have chosen to pursue an M.Com course for the purpose of attempting UGC NET or JRF (Junior Research Fellowship or a PhD.Similar to an M.Com graduate, MFA graduates also have the opportunity to clear UGC NET and pursue a Junior Research Fellowship or PhD.
Why Study?
  • As stated above, one of the major reasons as to why aspirants pursue an M.Com course is due to the highly impressive career scope.
  • A career in the banking, finance, insurance, commerce industries, government sector, stock market sector, are the top picks for most M.Com graduates.
  • Even though an MFA graduate specialises in the field of finance and accounting especially, the career scope of MFA remains equally lucrative if not more.
  • Graduates of MFA will be able to pursue a lucrative career in private as well as public sectors, with banking, insurance, and finance sectors being the most attractive industries.

Here's All You Need to Know About the M.Com Programme!

From Eligibility to Salary, Get All the Details About MFA Here!

Eligibility Criteria: M.Com vs MFA

Like every other course, if you wish to pursue a higher education degree in either of the courses, then you must qualify the requisite eligibility criteria. While each college will define the eligibility criteria for the courses, a general trend is followed among the top commerce colleges in India with respect to M.Com and MFA courses.

Course

M.Com

MFA

Academic Qualification

Bachelor’s Degree in Commerce. Preferably B.Com

Bachelors Degree in Finance, Commerce, Banking or Accounting

Minimum Aggregate Score Requirement

50% - 60%

45% - 50%

Course Syllabus - M.Com vs MFA

One of the many differences and similarities you may find between the courses are the subjects that covered under both the degrees. Check out the course syllabus for both M.Com and MFA courses in India.

Master of Commerce (M.Com)

Master of Finance and Accounting (MFA)

Computer Financial Accounting

Applied Cost Accounting

Accounting for Managerial Decision

Accounting Theory and Standards

Financial Management

Business Research

Statistical Analysis

Cost Control Techniques

Commercial Bank Management

Investment Portfolio

International Marketing

Security Analysis

Financial Markets

Insurance Management

Banking and Finance

Banking and Finance

Marketing Management

Financial Services Management

Economics for Managerial Decision

Direct and Indirect Taxes

Admission Process: M.Com vs MFA

There are two distinct methods of offering admissions to an aspirant of either M.Com or MFA, which includes offering admissions either on merit-basis or on scores obtained in an entrance test. In the case of entrance exams, most of the entrance tests will be conducted at the university-level, in other words, the scores obtained in such an entrance test will be applicable to college or institution affiliated to the university/educational institution conducting the exam.

Check out the different admission processes followed by the commerce college of India.

Merit-Based Admissions

Under merit-based admissions, candidates are selected for admissions based purely on merit. This kind of admission process will be more common for Master of Finance and Accounting courses, however, many M.Com colleges will also be offering admissions on merit-basis as well. You must check out the admission guidelines of the college of your choice prior to applying for admission. Under merit-based admission processes:

  • The past academic qualifications, such as the 10+2 qualification and the undergraduate qualification will be scrutinised by an admissions committee. Based on the scores obtained by the aspirant in these past academic qualification parameters will be used for calculating the merit of the candidate.

  • Many colleges will also consider parameters such as the past professional experience or work experience of the candidate.

  • Apart from the academic and professional qualifications of the candidate, the candidate will also be called for a set of selection processes, which may include a personal interview and group discussion.

  • Based on the overall performance of the applicant in the selection procedures, including past academic & professional qualifications, personal interview and/or a group discussion, candidates will be offered admissions to the course.

Entrance-Based Admissions

Entrance-based admission procedures will be more common for admissions to the M.Com courses in India. However, this will depend on the admission policy of the colleges offering the course. Many MFA colleges/universities will be conducting entrance tests at the university-level, in order to offer admissions to the aspirants. Under entrance-based admissions:

  • Aspirants will be asked to appear for the relevant entrance test, conducted by the relevant authority. Once you, an aspirant, has cleared the examination, merit-lists or selection lists will be published by the competent authority.

  • If applicable, candidates will be called for counselling sessions, through which the candidates will be offered admissions to the relevant course and constituent college based on the scores obtained in the entrance exam.

  • In case the above point is not applicable, candidates will be called a set of selection procedures which may include a personal interview and/or a group discussion, as per the admission policy of the college in concern.

  • Based on the overall performance of the candidate in the entrance test, personal interview and/or group discussion, whichever is applicable, candidates will be shortlisted or selected for admissions to the course.

List of Top Colleges in India for M.Com and MFA

If you are interested in enrolling in one of the commerce courses, then check out the list of the top colleges in India for M.Com and MFA. If you are interested in checking out one of the many M.Com or MFA courses offered in the prestigious colleges of India, then you may fill out the Common Application Form, available on our website.

Shri Ram College of Commerce New Delhi

Brindavan Group of Institutions Bangalore

Loyola College Chennai

Nehru Arts and Science College Coimbatore

Narsee Monjee College of Commerce and Economics Mumbai

Sanskriti University Mathura

Symbiosis College of Arts and Commerce Pune

IIMT University Meerut

Madras Christian College Chennai

SRM University Sonepat

Career Scope and Job Opportunities - M.Com vs MFA

The discipline of commerce and banking might just be one of the more lucrative options available in the world. With a number of job opportunities available for PG commerce graduates, the career scope and job opportunities for commerce graduates are immense. In India, most of the aspirants of the courses pursue with the intent of attempting the UGC NET or pursue a PhD or Junior Research Fellowship (JRF).

Nonetheless, the career opportunities for both M.Com and MFA are exceptionally good with the job options in both the public and private sectors. Here are some of the job profiles, areas of specialization and average initial salary on offer for both M.Com and MFA graduates in India.

Course

M.Com

MFA

Job Profiles

  • Executive Assistant

  • Finance Consultant

  • Investment and Risk Analyst

  • Accountant

  • Finance Manager

  • Assistant Manager

  • Operations Manager

  • Investment Analyst

  • Assistant Accountant

  • Marketing Manager

  • Auditor

  • Tax Consultant/Advisor

Areas of Employment

  • Finance, Commerce and Banking Sectors

  • Indian Civil Services

  • Insurance Sector

  • Indian Statistical Services

  • Customs

  • Indian Economic Services

  • Commerce, Banking and Finance Sectors

  • Investment Sector

  • Financial Consultancy Companies

  • Real Estate

  • Indian Economic Services

Average Initial Salary

  • Depending on different factors, candidates can earn anywhere between ₹25,000 - ₹40,000 per month.

  • With enough experience, candidates can also earn upwards of ₹50,000 per month.

  • The average initial salary can range between from ₹20,000 - ₹45,000 per month.

  • Gaining experience would help in earning over ₹55,000.

As mentioned above, graduates of M.Com and MFA mostly opt for attempting the UGC NET examination conducted by NTA. Clearing the exam qualifies the candidates to pursue Junior Research Fellowship or Assistant Professorship, both of which provide a lucrative career option for graduates of both the courses.

Related Articles

Click on the link given below to know more:

Learn More About the Benefits of Pursuing B.Com Before CA

Is it Easy for B.Com Graduates to Get in Top MBA Colleges in India

Know What’s Better for You: BBA vs B.Com

Check out the Differences Between B.Com and BBI

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