The aspects of business and commerce are so intertwined in our daily lives, that delving deeper into it as a focused area of study makes it that much more relatable, interesting and lucrative in the long run.
Choosing to pursue commerce has grown to become a popular option since it has the scope to lead students into a plethora of career options after. Students choosing the Commerce stream tend to develop a thoughtful and more insightful look into the world of business and the economy. The foundation of a good commerce course lies in subjects such as economics, accountancy, finance, business mathematics, bookkeeping, etc. that are taught in great detail at the school level itself today. Post clearing exams in class 12 candidates can pursue the Commerce course at the undergraduate (UG), postgraduate (PG), diploma levels and also choose to specialize further from there. Among Commerce courses, students can choose from specialized fields such as accounting and finance, banking and finance, accounting and taxation, actuarial sciences, business administration, applied economics, e-commerce, financial accounting, banking and insurance, human resources, entrepreneurship, accounting, and auditing, etc.
Compared to other popular streams, the scope of gaining knowledge, skills, and training to take on the corporate world, commerce offers the highest potential. In India, like in other countries, where B.Com is most sought after and is a highly career-centric course, students are trained to handle different aspects of commerce and encouraged to pursue entrepreneurship. Here are the advantages of pursuing commerce-
To assume that students are only trained majorly in core subjects of commerce i.e., finance and banking do not apply today. With the number of specializations that are available today in the commerce sector, students will be able to qualify themselves for different sectors and industries. Here are some top specializations that are popularly sought after apart from the main subjects–
Insurance, Marketing, Human Resources, Investment management, Law, Corporate Secretary ship, Information Technology, Tourism, and Travel management and Taxation.
A majority of the countries including India have a capitalist economy with commerce and trade playing out as huge influences in the strength of that economy. Both public and private sectors in such economies offer lucrative employment opportunities and stability to commerce graduates. One could note that B.Com, BBA are some undergraduate courses that allow graduates to obtain hands-on employment experiences such as an internship with business houses alongside studies. The same is true of students who opt for chartered/cost accountancy courses as well.
Most commerce graduates opt to study higher and more specialized courses to shape a more focused career path that will help them perform as individual professionals.
CA: Heading in the chartered accountancy or CA is one such direction. A career in CA means a lucrative pay scale, good career growth opportunities, etc. not to mention the competitive advantage and intense subject knowledge that is involved. The same holds good with cost accountancy and company secretary careers.
MBA: Another common choice among commerce graduates in India is an MBA or Master of Business Administration degree. Under MBA, graduates will be able to opt for different specializations such as Finance, Marketing, Information Technology, HR among others. There are dual specialization courses also that are being offered in management schools today.
M.Com: Another popular option is pursuing a Master of Commerce or M.Com degree. While on the face of it might seem that an M.Com degree would not add much value, it opens up further career opportunities including teaching and research.
LLB: Pursuing a law degree is a viable but an uncommon option, on offer to commerce graduates. If students have an interest and a knack for legal aspects and wish to pursue a career in corporate law, LLB is the right choice. Commerce combined with expertise in law helps ideal legal solutions for disputes in business.
Packages offered to a commerce graduate fresh out of college can range anywhere between an annual ₹2,00,000 - ₹4,50,000. Inevitably, the salary of a commerce graduate will be determined by factors such as performance in the academic qualification and area of specialization among others. The reputation of the institution also plays a major role in the right placement and package.
Auditor, Accountant, Business Analyst, Stock and Insurance Broker, Finance officer/consultant, Company Secretary, Tax Accountant, Teacher/Professor, Finance and Accounting Managers, Budget Analysts.
Government and Private Banks, Business Consultancies, Marketing agencies, Investment consultant firms, Industrial and manufacturing houses, Educational Institutions.
The demand for qualified commerce graduates with specific specializations, in a recovering economy such as that of India particularly after being severely affected by COVID 19 is immense. The job opportunities for graduates are on a rise with the focus of the central government on developing and aiding startups and newer businesses.
Candidates can pursue a UG degree in Commerce if they have completed their 10+2 or its equivalent level of education in the commerce stream. To secure admission in the PG level Commerce course, candidates should have completed their graduation degree in commerce stream from a recognized college/ institute. However, the different criteria for admission in the PG level Commerce course depend on the particular college/university.
Tapasya educational Institutions are the brainchild of the visionary Sri M Sreedhar, founder and director. The institution has been committed to the cause of providing world-class education and working towards creating a pool of professionals year after year all over India. TEI has won numerous accolades such as accreditations, awards, and achievements for its excellence in quality education and superior student service standards. Tapasya educational institutions have branches all over Hyderabad, Telangana and slowly growing in other southern states. Our courses backed by a lot of experience and research are effectively handled by our team of outstanding faculty and academicians. We strive to provide a nurturing, opportunity-rich environment to students and provide ample support to help them shape their future.