Hi! Welcome back to 2nd part of our article series – Career Option After SSC/HSC – Part 2 – Commerce. In our previous article, we discussed career options in Arts stream and in this article, we will discuss career options in Commerce stream.
The commerce stream is mainly based on three subjects. Business, Accounts & Economics. In commerce, you will study Business, Economy, Trading of Goods & Services, Accounting & Book Keeping, Entrepreneurship & Finance. A career in Commerce will help you to have a great career. Also, there are many professional courses are available such as CA, CFA, CS and many more. We will see this in detail.
Professional Courses in Commerce
Commerce stream has highly rated professional courses. Pursuing these courses will help you to get a very high paying job or you can practice independently as well.
Chartered Accountant (CA)
The topmost professional course in the field of commerce is the Chartered Accountancy course. Chartered Accountant or CA is an accounting designation given to accounting professionals in many countries around the world. The main work of a CA is Auditing the books of accounts, Filing Income Tax Return and offer advisory services to clients and companies.
To become a CA in India, you need to register yourself under ICAI – Institute of Chartered Accountants of India. The first stage is Entrance Exam – CPT, the second stage is Intermediate Exam – IPCC, after that you have to complete three years of Article ship under a practising CA, after that you can apply for Final Exams.
The top recruiters for CA are E&Y, KPMG, Deloitte, PWC. These are the top 4 companies in this field. A chartered accountant can pursue a career as Internal Auditor, Tax Auditor, Tax Adviser, Statutory Auditor, Forensic Auditor, etc.
Company Secretary (CS)
The Company Secretary is another prestigious professional course. Every company has at least one Company Secretary. In India, the course is conducted by Institute of Company Secretaries of India – ICSI. The main job of CS is to look after compliance and legal works of the company. He ensures the company & directors are operating within the legal framework.
The CS course is conducted by ICSI (Institute of Company Secretaries of India). The CS course includes 3 levels – Foundation Course, Executive course & Professional course. After completing the final course and 15 months of training, a candidate can join as an associate member of ICSI as Company Secretary.
Cost & Management Accountant (CMA)
Cost & Management Accountant (CMA) earlier known as ICWA is another professional course. CMA deals with calculating & assessing costs & expenses of the company. In India, it is managed by The Institute of Cost Accountants of India.
The CMA is divided into three stages. The first stage is Foundation, then Intermediate and then Final. The degree holders are highly demanded in the government sector, private sector, banking & finance sector, etc. The need for CMAs is increasing these days.
Chartered Financial Analyst (CFA)
This is a post-graduate professional course. This is offered by CFA Institute. This is the most reputed course in the finance sector. You need to have a graduate degree to pursue this course. There 3 levels in CFA exam and you must pass all three levels to become a CFA.
Portfolio Management, Investment Banking, Corporate Financial Analyst, Risk Management, Research Analyst, Consultant, Financial Analyst are typical job roles of CFA.
Graduation Courses in Commerce after 12th
Commerce has many options in terms of graduate degrees. You can pursue your graduation and select and prepare for any of the above professional course. Here is the list of available graduation courses in commerce –
Bachelor of Commerce (B.com)
This is a core graduation course in commerce. This is a 3 years full-time graduate course offered by a university or private colleges. After you complete B.com you can go for M.com. M.com is 2 years master’s course. The best thing about B.com is you will have enough free time to prepare for a professional course or if you want to do any other course or activity.
Bachelor of Commerce in Accounting & Finance (BAF)
This is another core course in commerce but with specialisation in Accounting & Finance. If accounts were your strong subject in 11th & 12th, then you can go for BAF. This is a 3-year full-time course. You can get a job in private companies or you can go for masters.
Bachelor of Management Studies (BMS)
If you want to pursue a career in the field of management, you can think of pursuing this course. This is a 3-year full-time course which can help you to prepare for managerial roles as it has related subjects. This course can be very helpful if you want to go for MBA.
Bachelor of Commerce in Banking & Insurance (BBI)
This is 3-year graduate course specialised in Banking & Insurance sector. This course can help you to gain expertise in the field of finance, banking and insurance. This course covers the subjects from banking and insurance and helps students to get the real insights of the industry. This course can help you to get a job in banking & insurance sector. Else, you can go for postgraduate degrees.
Bachelor in Financial Markets (BFM)
This is another good graduation course in commerce. If you are interested in Financial Markets, you can go for Bachelor in Financial Markets. You learn about the stock market, trading, commodities, investment, portfolio management, etc. This is a 3-year full-time course offered by many universities and private colleges.
Bachelor in Business Administration (BBA)
This is 3-year bachelor degree specialised in business administration. This is helpful for those who are interested in business management and entrepreneurship. You can further go for Masters in Business Administration (MBA) after completion of this course. This course is booming since last few years and has a wide scope.
Top Colleges in India for Commerce
- Sri Ram College of Commerce, Delhi
- St. Xavier’s College, Mumbai
- Loyola College, Chennai
- Christ University, Bangalore
- Narsee Monjee College of Commerce & Economics, Mumbai
- Symbiosis College of Arts, Commerce & Science, Pune
- HR College of Commerce & Economics, Mumbai
- KJ Somaiya College of Arts & Commerce, Mumbai
- Mithibai College, Mumbai
- St. Joseph College, Bangalore
Commerce is a popular and important stream. The commerce stream has a wide variety of options. The professional courses in commerce stream are highly rated and help to earn a good chunk of money. One has to have an interest in playing with numbers and should be able to manage large data.
Having a career in the field of commerce will help you to gain a good knowledge of Economy, Finance & various sectors of the economy. You will learn how the economy of the country or world works, what are the factors that impact the economy. You will also learn about the Stock Market and Investment strategies. Commerce graduates are one of the most important employees in the country.
Students sometimes are seen choosing commerce because they feel science is not suitable for them or science will be tough for choosing them. Commerce stream is equally difficult as Science. Commerce stream should be considered by those who have an interest in economy and business. In commerce, you will learn all about business and its impact over the nation and the world. We hope this information about career choices in commerce helped you. This was our 2nd part in the series of Career Options in various stream.
Check out our 3rd part about Career Options in Science on our website.
Check out the 1st Part Career Options in Arts