Top Career Options in Commerce for a Bright Future

Commerce is one of the most desirable streams after 12th grade. It opens gateways to several careers that have bright scope in the future. The stream is not just rewarding but also offers lucrative jobs with career satisfaction. This article discusses top career paths for students after completing the 12th standard. 

Benefits of Choosing Commerce as a Career Path

The various advantages of pursuing a career in Commerce are:

• Provides diverse and high-paying career opportunities.
• Easy to switch to humanities after 12th grade.
• Imparts business knowledge and fosters an entrepreneurial mindset.
• Lays strong foundation necessary in domains like finance, banking, etc.

High-Paying Careers in Commerce

Let us take a look at the most lucrative career paths in Commerce that offer long-term growth:

• Becoming a Chartered Accountant (CA)

It is one of the highest-paying professions in finance and accounting. They manage the company’s finances. They are responsible for tax planning, budgeting, and providing financial guidance to the businesses or companies. To become a CA, students must clear the entrance exam held in three stages, namely CA Foundation, CA Intermediate, and CA Final. With experience, CA will be promoted to Senior Accountant, Finance Manager, Chief Finance Officer, or even start his/her own firm. The average salary of CA ranges between 6 and 40 LPA based on skills and experience.

• Role of Company Secretary

A company secretary (CS) advises the company on legal, financial, and government matters. CS ensures whether the company is adhering to the rules and regulations. He maintains the company records, communicates with shareholders, assists with board meetings, and advises the board on governance. The average salary of a CS is around 7 LPA.

• Working as a Financial Assistant 

A financial analyst assesses the financial data and makes investment recommendations for companies. They examine the market trends, economic sectors, and industries before making suggestions. They are hired by banks, insurance companies, investment and securities firms, and government agencies. The annual initial salary of financial analysts ranges between 4-5 lakhs. 

Check out: Best BCom Colleges in Bangalore 

Business and Management Roles in Commerce

Careers in management and entrepreneurship for commerce graduates include: 

• MBA and Business Management Careers

An MBA or other business management degree imparts leadership and business acumen. These paths equip strategic thinking, risk-taking, and organizational skills essential to holding key positions like executive and managerial roles in an organisation. The career prospects after MBA include Entrepreneur, HR Manager, Sales Executive, Management Consultant, Project Manager, etc. An MBA fresher can expect around 4-6 LPA. 

• Exploring Entrepreneurship

The core subjects Business Studies, Economics, and Accountancy taught in Commerce stream build entrepreneurial skills. The Commerce knowledge lays the foundation for building your own business or starting a new venture. 

• Careers in Marketing and Sales

Commerce students have an option to explore diverse roles in marketing and sales. They can apply the knowledge learned in the course to expand sales, build brand image, and increase customer engagement. They can take up roles like Sales Manager, Marketing Executive, Digital Media Manager, etc.

Legal Careers for Commerce Graduates

For students interested in corporate law, here are some legal career options:

• Becoming a Corporate Lawyer

Commerce students specialize in the fields of business, economics, and finance. This knowledge helps corporate lawyers understand the financial and operational aspects of a business better. They become equipped to make informed decisions involving a legal aspect.

• Working as a Tax Consultant

Commerce background helps students become tax consultants as it provides essential background in accounting, finance, and economics. The understanding of taxation, analysis of financial statements, and tax-saving strategies facilitate them in becoming an efficient tax consultant.

Finance and Banking Career Paths

Finance and banking domains offer high-income job opportunities:

• Career as an Investment Banker

Investment bankers manage funds, portfolios, and investments of companies. It is a prestigious career in finance with global opportunities and high earnings. They deal with high-value transactions. They help companies raise capital, set stock prices, and negotiate merger and acquisition deals. The average salary you can draw is between 4 and 6 LPA.

• Working as a Banker or Financial Advisor

Bankers are involved in banking services like disbursing loans, managing deposits, etc.; they help individuals meet their financial goals. A financial advisor analyzes the finances of clients and makes suggestions to efficiently manage their finances and make informed financial decisions.

Alternative Careers for Commerce Students

A few non-traditional career options that utilize commerce skills include:

• Data Analyst
• Social Media Manager
• Content Creator
• Investment Analyst
• Supply Chain Analyst
• Real Estate Analyst

Check: Explore high-income skills of 2024. 

Conclusion 

Commerce is an evergreen stream. The knowledge and skills learned in the course help build a successful career. The principles taught also aid in making informed financial decisions in both personal and professional life. Distinct career paths in diverse domains have been discussed above. You make a wise choice based on your passion and strengths. 

Have a bright future!

Frequently Asked Questions (FAQs)

1. What are the Most Well-Paying Careers in Commerce?
   Chartered Accountant, Investment Banker, Company Secretary, Financial Assistant, Entrepreneur, HR Manager, and Financial Advisor are some of the most well-paying careers in Commerce.
   
   
2. Can I Pursue a Legal Career after Studying Commerce?
   Yes. Commerce students can pursue a legal career as corporate lawyers, advocates, or legal advisors.
   
   
3. What are the Job Opportunities after Completing a B.Com Degree?
   BCom graduates can be employed as Accountant, Company Secretaries, Auditors, Financial Analysts, Chartered Accountants, Tax Consultants, etc.
   
   
4. Which is more Beneficial: CA or MBA for Commerce Students?
   This depends on individual interests and career goals. If you like managerial and leadership roles, then MBA is a wise choice. But to become a CA, you have to put in more effort to clear the entrance exam. CA is highly rewarding and a high-paying job that deals with accounting, taxing, and auditing.