Many people take a B.Com degree for granted. B Com stands for Bachelor’s Degree in Commerce. It is a 3-year degree course that specializes in Trade and Commerce, Accountancy and Auditing. Other core subjects include Business management, taxation, Economics, Corporate Accounting, and Business administration. As you are exposed to a wide genre of subjects at the college level, you are easily employable. Pursuing ancillary courses like doing your CA (Chartered Accountancy), ICWAI (Cost Accountancy), MBA (Masters in Business Administration) and lot many courses become easier.
These are the 8 best job opportunities for commerce students. Here we go:
You learn Auditing and Cost Accountants as a part of the subject curriculum. As a fresher, you can work as a Junior Accountant, Account Executive, Accounts Manager and so on. As Commerce graduates have a very good knowledge of accounting, they can pass journal entries. Tally the accounts in their respective ledgers and finalize annual accounts. If you look at the profile of an accounts manager, he/she will be responsible for tallying internal accounts of the company and look into the internal control processes of the organization as well.
As an Accounts Manager, you will personally be responsible for maintaining the main accounts of the company. You can also help the Company Secretary maintain internal audits, statutory audits and so on. As the profile is so versatile in nature big companies like TCS (Tata Consultancy Services), HP (Hewlett Packard), Wipro and Reliance Group are always on the look-out for competent B Com graduates.
Into tax advisory services
B Com graduates have a thorough knowledge of Direct and Indirect Taxes. Income Tax is divided into two major papers. These include Income Tax Law or IT law and Income Tax Practice or IT Practice. This makes it easier for you to provide independent advisory services to taxpayers. This is in terms of calculating various types of statutory taxes and filing them every monthly, quarterly, semi-yearly or even annually. The taxes are paid to various tax authorities like the Income Tax Department, GST, customs authorities and so on.
Into the finance department
As commerce graduates specialize in Accountancy and finance, their profiles are favorably considered by core financial companies that are set up through the nook and corner of the country. You have core finance companies which include Shriram finance, India Bulls, Mahendra Finance, Bajaj Finance, India’s Infoline and so on. The companies provide a varied form of financial services like real-estate, insurance, tax advisory services and so on.
Finance Executive, Sales Officer, Finance Manager, Customer support, Area Manager and Relationship manager can be lucrative job profiles, these companies can offer you, on the whole. But your experience level is matched against other candidates if you want to roll out top-notch positions like those of a Team leader, Relationship manager or Area head.
Foray into Commercial banking
As we are moving towards an advanced initiative like ‘Digital India’, the need for performing advanced commercial banking services is pretty much on the rise. Commercial banks, Scheduled banks, nationalized banks and international banks are on the look-out for probationary officers. You need to perform the day to day operations of the bank. Getting into Centralized banking is a great boon for female employees who want to perfectly balance between home and family. On a typical 9 to 5 job with Govt. holidays, this balance becomes more of a hassle-free affair.
The profiles that can be offered to you include those of cashier, accountant, probationary officers, and compliance executives and so on. HDFC, ICICI, Axis, HSBC, IDBI, SBI, and Canara Bank offer lucrative job opportunities to fresher B Com graduates. You will have to clear the banking exam to get into nationalized or Central Govt. operated banks. For high-end international banks, you will be taken through a 7 round interview tier.
You are at a better position to crack interviews of major MNC’s. This is especially when you complete your Bachelor’s Degree in Commerce. JP Morgan and Chase, Grindlays bank, Barclays Deutsche Bank, Price Water Coopers, etc. look out for Commerce graduates. You perform day to day activities. Research Analyst, Billing executive, Junior Analyst and Reporting Executive are profiles you can aspire for. You need dynamic researching skills and excellent communication skills to explore these profiles. And you are paid better packages than the rest of the other companies. JP Morgan and Chase offers a cool 30,000 rupees per month even for a starter.
Is insurance your cup of tea?
Insurance is one of the most traditional financial sectors that is fond of hiring B Com graduates. You can work as Insurance agents, Product development officers, relationship managers and so on. LIC is one of the oldest Central Govt. sponsored insurance companies that span across the length and breadth of the nation. Just like the banking sector, insurance companies give you an ample exposure to varied genres on financial services.
If you pursue your MBA in Insurance management, you can bag lucrative profiles at internationally acclaimed insurance companies as well. Some of the notable names in the industry include Max New York Life insurance, Aviva, AEGON Life, Exide Life, DLF Pan America, and Edelweiss Tokio. Health insurance, General life insurance, insurance against theft and fire, medical insurance and Car insurance are policies that are rendered by insurance companies from time to time. You need to promote the range of products, these companies come up with. Quite a lot of corporate companies exempt taxes on the basis of insurance policy amount taken.
Communication is the need of the hour in today’s digital world. A lot of companies focus on providing customized data packages and mobile phone talk-time packages to their fleet of customers. B Com graduates fit into this line as well. Commerce graduates get employment opportunities as Area Sales Managers, Team leaders, Customer support executives, product development executives and so on.
Business Process Outsourcing or BPO’s
Foreign companies out shore their operations to Indian companies. As a cost-effective measure, mundane tasks are given out to employees in cheap labor countries. These include India, the Philippines, Hong Kong, Singapore and so on.
The concept of offshoring foreign operations to Indian employees is what is known as Business Process Outsourcing or BPO. BPO’s provide exciting job opportunities for commerce students as such.
You handle client calls to take care of banking, billing, automated tech services, hotel reservation or travel bookings and so on. Again, quite a lot of MNCs provide you with ample opportunities to interact with foreigners staying at the US, UK, Australia, and Germany. Though you may need to work in night shifts, you are offered a pay package ranging between INR 15,000 to 30,000 per month. This is a fresher’s or starting package. While you can earn much more as you go up the career or corporate ladder.
These are the 8 most lucrative job opportunities for commerce students, on the whole.