Scope in Commerce: Salary, Jobs, Courses & Career options
Before understanding ‘scope in commerce’, we will have to understand – what is commerce?
Only then you will be able to understand that which the areas which commerce open for you are. so simply,
“Commerce is the exchange of goods, services or money. Wherever buying, selling and monetary value are involved, there is commerce. So commerce is a very wide term. And it gives you numerous scope to make your career. There are a large number of graduation, professional and certificate courses, which you can do. So today we will talk about the most popular career scope in commerce. so if you are a commerce student and want to make your career in commerce. Read this full article. Because I will try to cover as much as I can and this is going to be really helpful for you.
Courses in Commerce after 12th
Graduation and post-graduation courses –
- Bachelor in commerce (B.com)
- Bachelor in business administration (Bba)
- Bachelor in management studies (Bms)
- Bachelor in business studies (Bbs)
- Bachelor in business studies (Bbm)
- Masters in Commerce (M.com)
- Masters in management administration (MBA)
Other professional courses –
- Chartered accountancy (CA)
- Company secretary (CS)
- Chartered Financial Analyst Program (CFA)
- Certified management accountant (CMA)
Diploma courses –
- Diploma in banking
- Diploma in business management
- Diploma in financial accounting
- Diploma in retail management
You can opt for any of this according to your interest and eligibility.
Eligibility Criteria for Commerce Courses –
Your career choice depends on the eligibility criteria for that particular course, which you want to opt. In most of the courses, eligibility criteria are not much high. With the average score in the 12th standard, you can apply for any course. But which college you will get or course you opt is based on your score in the 12th standard and entrance exams.
If you want to take admission To the best colleges for b.com in India. You have to score at approx. More than 95% in 12th standard. In most of the colleges for MBA, B.COM, BBA you have to score a minimum of 50% in the 12th standard. You can appear for the CAT in the entrance exam for an MBA if you have a minimum of 50% in graduation. Indian Institute of Management, Indore (IIM-I) has an integrated course BBA + MBA, for which you can apply and appear for the entrance exam. For most government jobs on the basis of the 12th and graduation level, you have to score a minimum of 50-60%.
There is no obligation for CA, CS, etc. It doesn’t matter how much or less you scored in the 12th standard. You can start these course after qualifying entrance exam with minimum 50% score (entrance exam). And if you are a graduate you don’t need to directly start these courses without giving any entrance exam.
Admission process for different courses
The admission process is almost the same for most of the colleges or course either on the basis of 12th standard marks or entrance exam.
For BCom and other graduation courses, you have to fill the forms of different colleges on the basis of last year cutoff. After a few days, they release a merit list and you get your college on a merit basis. Few best colleges for BCom in India are :
- Shri Ram College of Commerce
- Lady Shri Ram College for Women
- Loyola College, Chennai
- Christ University, Bangalore
- St. Xavier’s College, Mumbai
- Narsee Monjee College of Commerce and Economics, Mumbai
- Hans Raj College, New Delhi
And so few other colleges. But you have to really work hard in the 12th standard to get into these colleges.
For BBA, there are some colleges which conduct their entrance exams on national and state level, you can apply for. Few entrance exams for BBA are :
- AIMA UGAT 2019 (AIMA Under Graduate Aptitude Test)
- SET (Symbiosis Entrance Test)
- IPU CET (Indraprastha University Common Entrance Test)
- CLAT (Common Law Admission Test)
- LSAT (Law School Admission Test)
- CEED (Common Entrance Exam for Design)
The selection is done on the basis of the 12th score and exam merit list. So you can appear in any of these exams.
For chartered accountancy (CA) you need to qualify the entrance exam which is a common proficiency test (CPT).
Other courses like CFA, CS you can directly join and you have to qualify their levels foundation, executive and professional.
Jobs and career options in Commerce
This is a foremost concern while choosing a career. As I told you before, there are unnumerous jobs and options are available for you according to your qualifications and choice. Some fields in commerce where you can get jobs are :
- Corporate Law
- Chartered Accountancy
- Cost & Management Accountancy
- Company Secretaryship
- Chartered Financial Analysts
- Finance Operations
- Human Resource Management
- Finance Management
- Tax Consultant
- Marketing Management
- International Business
- Technology Management
- Stock Brokers
- Mutual Funds
- Corporate Communication
- Infrastructure Management
- Financial Planning
- Financial Economics
- Portfolio Management
- Hospital Management
- Supply Chain Management
- Market Research
- Retail Management
- Media Management
- Rural Management
- Business Consultancies
- Foreign Trade
- Public Accounting Firms
- Educational Institutions
- Investment Banking
- Industrial Houses
- Budget Planning
- Multinational Companies
You can move to any of these fields and make your career.
There are a lot of job profiles in the above mention fields. It completely depends on your qualifications and your experience. Some of the job profiles in commerce are :
- Budget Analyst
- Chartered Management Accountant
- Chief Financial Officer
- Business Consultant
- Finance Manager
- Stock Broker
- Production Manager
- Management Accountant
- Chartered accountant
- Company secretary
- Chartered Financial Analyst
- Loans executive
- Human Resource manager
- Certified Financial Planner
- Venture capitalist
- Agriculture Economics
- Mathematics and Statistics
So these are the few job profile. Remember …” few”. Now you can guess, that many choice commerce can give you. You can do complete research on any job profile of your choice and prepare for it.
If you want to Get Detailed information, you can watch this video –
Salary in commerce stream
There is no shortage of money in a field which completely deals with money. You can get decent to mind-blowing salary packages in this field as per your ability. For an average college graduate( fresher) salary can be 10000-15000 per month. If you are from the best colleges in India, it can range up to 50-60k per month.
For a chartered accountant salary particularly depend on the company from where you have done your 3.5-year article ship. On an average salary for a CA can range to 5 lakh per annum to 8 lakh per annum. If you did your article ship from top companies, it can go to 10 lakh per annum or more than that.
For an MBA from a decent college, the salary can range from 6 lakh per annum to 8 lakh per annum. But if you did your MBA from top management schools, there is no limit of salary, a company can offer you.to get into these colleges, you have to clear entrance exams (CAT, GMAT, XAT, SNAP). Top colleges for MBA in India are :
IIM, Trichy Etc.
Apart from these, some very good private MBA colleges are, such as
Business and startups
If you want to start a business, commerce can help you. Everyone can start their business. But if you are from the commerce field, you get a chance to learn accountancy, economics, management, laws, etc. These can help you more to start your own business or startup. Depending on your managerial skills and hard work, you can enhance your business. And there is no limit of money, you can earn.
Are you interested in government jobs?
Government jobs can be a good career option. They give a good amount of salary and so many other benefits also. There are so many posts in government departments specifically for candidates which are from commerce background. Every year government release vacancies and conduct exams on the 12th standard level and graduation level. You can apply for these exams.
Government exam for 12th standard level are-
- RPF(railway protective force)
- Railways(through rrb exam)
- SSC (staff selection commission)
- various IIT’s, IIIT as assistants
Government exam for graduation level are –
Grade III Exam
Combined Metric Level
Combined Graduate Level Exam etc.
Except for these exams for can apply for other government exams also like SBI PO, RBI, IBPS PO, IAS, etc.
Commerce is full of opportunities and growth. So focus on which field you want to go to. Take the detailed knowledge, ask your seniors, talk to people working in that field and choose your career wisely.
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