Introduction
Commerce has been a course that has been neglected a lot in India. The basic system has divided courses into three categories- science, commerce, humanities. Science has always been valued the highest in India because everyone thinks the students in this field get more opportunities and better jobs when compared to the other two fields and also the pay is high so they can live a luxurious life. However, have you ever wondered what exactly to do After Bcom course?
Even though the statement is true it’s not only for science students. Even a commerce student can earn a good amount and live a comfortable luxurious life. In every job, the main importance is your pay and comfort according to your lifestyle. Therefore, your skills play an important role no matter the course.
What Is Commerce? Who is it for?
Commerce is essentially the conduct of trade among economic agents. It usually refers to the exchange of products, services, or something useful, between businesses or entities. From a better perspective, nations are only concerned with managing commerce in a way that enhances the well-being of their citizens, by providing them jobs and producing beneficial goods and services.
Commerce has existed from the time humans started exchanging goods and services with each other. Starting from bartering to the creation of currencies to the establishment of trade routes, humans have found ways to exchange goods and services and build a distribution process around the process of doing so.
In the present time, commerce normally refers to the macroeconomic purchases and sales of goods and services by large organizations at scale. Commerce is for any person who is interested in finance and transactions. So, if you have done a Commerce course and wish to make a career out of it, here are some career options that you should consider.
Top Highest Paying Jobs In Commerce field
Chartered Accountant
If you’re someone from the Commerce field, you’re presumably to understand about the Chartered Accountancy professional course. The Institute of Chartered Accountants of India or ICAI is a statutory body that designates an individual as an accountant after they need skilled a series of examinations and internship. It is one of the foremost popular commerce stream jobs. As a CA, they will handle the important accounts of a corporation and make sure that the finances are properly recorded and calculated.
Taking the role of a Chartered Accountancy is one of the absolute best-paying jobs in India for commerce students and it is a dream of most commerce students to become a CA. One can expect a starting salary of around Rs. 6 to Rs. 7 lakhs per annum as a CA. It is one of the very best salary jobs for commerce students.
when a CA gains more experience the value also increases. However, the CA exams are said to be one of the toughest then, many students stand back from it. While preparation requires immense diligence, this commerce job does pay off at the top, and therefore the fewer the attempts, the higher the pay.
Investment Banker
This is one of the highest-paying highest paying jobs in the field of commerce in India. Being an investment banker offers a huge salary in the commerce field. The duty of the investment banker is to provide advice and suggestions to various companies and firms so that they can use their money more effectively and achieve their financial goals.
Most companies develop their long-term and short-term financial plans with the help of investment bankers. according to their experience, an investment banker can get a salary of Rs. 20-25 lakhs per annum.
Chartered Financial Analyst
Chartered Financial Analyst is also one of the biggest posts in the field of investment management. CFA places amongst the highest paying jobs in the commerce field in India. any Commerce students who opt for this get an average salary of Rs. 12 lakhs per year. It is a good job profile that concerns commercial services globally.
CFA is also an essential part of many fields like asset management, equity, credit analysis, and revenue analysis, so on and so forth. They collect data from multiple sources and analyze it and evaluate the advantages and disadvantages of different investment vehicles.
Certified Public Accountant
The CPA is quite the same as the Chartered Accountancy, but CPA is offered by the American Institute of Certified Public Accountants (AICPA). hence, the CPA has a global interest.
Candidates who wish to obtain a CPA degree must have a bachelor’s degree in either Business Administration or Finance or Accounting and must complete 150 hours of study. The CPA does jobs like managing tax, auditing, reporting, and accounting processes for organizations or MNCs.
It is one of the jobs in the commerce field with a high salary that may lead to commercial broadcasters that can give you financial security. One must have a Business or Accounting degree to be eligible to appear for the CPA exam. A CPA can get a salary of around Rs.7-9 lakhs per annum.
Actuary
An actuary is another respectable career option for people who are looking for jobs in the commerce field with a high salary. Actuaries are people who test risks involved in the insurance industry. Risks can include loss of property, disability, or other potential risks to the corporate.
They are risk management professionals who use their mathematical skills to live the likelihood of future events and predict their financial impact on their customers and businesses generally.
As an actuary, your work won’t be limited to financial institutions. As all areas of business are in danger, Actuaries may find employment opportunities in non-financial domains like land, health care, and other similar fields. An actuary can get up to a minimum salary of 10-14 lakhs per annum.
Cost Accountant
Cost Accountant is another one of the top jobs in the commerce field. There are two main objectives of accounting profit analysis and budget preparation. they are financial experts who help with budgeting, cost management, and company assets and evaluate company performance.
They are usually employed by manufacturing firms. Cost Accountants are essentially responsible for collecting, verifying, analyzing, and communicating data to facilitate financial visibility and improve processes.
They are also a part of the executive team and helped develop the company’s financial plan and report to stakeholders and tax authorities. a fresher has a salary of around Rs. 4 lakhs per annum as a Cost Accountant.
Professional Accountants
In addition to Chartered Accountants, students can also take up the profession of Professional Accountants as it also comes under the highest paying jobs in India. Professional Accountants help with accounting, tax, and compliance reporting.
They should have a working knowledge of accounting software such as SAP, Tally, and Excel. Accounting professionals should create and maintain accurate financial records for businesses and individuals. Professional Accountants can also get a job at an accounting firm or can set up their independent process. They can earn around Rs. 6 lakhs per annum as starting package.
Cost Accountant
Cost Accountant is another one of the top jobs in the commerce field. There are two main objectives of accounting profit analysis and budget preparation. they are financial experts who help with budgeting, cost management, and company assets and evaluate company performance.
They are usually employed by manufacturing firms. Cost Accountants are essentially responsible for collecting, verifying, analyzing, and communicating data to facilitate financial visibility and improve processes. They are also a part of the executive team and helped develop the company’s financial plan and report to stakeholders and tax authorities.
The salary of a fresher as a Cost Accountant is around Rs. 4 lakhs per annum. Retail Manager – A Retail manager assists in the management of supermarkets as per the business principles. The job of a Retail Manager is to run the sales or store successfully. They need a degree in Retail Management.
Retail Managers manage and monitor all aspects of the daily operations of stores, including sales, inventory, staff, and resource management. They have to be familiar with the product and their marketing philosophy. They must use clever marketing strategies to persuade customers to buy products from the store.
Company Secretary
The essential job of a company secretary is to ensure that the company they are working with, runs with proper coordination and while adhering to all the legal requirements and rules.
The Company Secretary (CS) is one of the main positions in the company or organization. CS serves as president between stakeholders and the board. They are responsible for making formal submissions such as account details, tax reports, and annual receipt reports.
CS is also one of the most popular commercial activities in India. Company Secretaries can expect a high salary of Rs. 6-7 lakhs per annum.CS is undoubtedly the most promising course.
Personal Financial Advisor
A personal financial advisor is a person who assists their clients with their financial goals, pensions, retirement savings, insurance, and debt management. Financial advisers require degrees in finance, finance, business, Mathematics, Law. They can get a salary of around Rs. 5 lakhs per annum.
Conclusion
These were the ten highest paying jobs in commerce fields in India. There are many more jobs for commerce students as well which provide decent pay. To name some of them are statistician, sales manager, finance manager, budget analyst, auditor, so on then forth.
It is a field suitable for those people that incline the sector of accountancy, finance, economics, and lots of other related fields. Several students in India join the sector of commerce only because they think it’s an easy choice than that of science but the reality isn’t so. If you’re hooked into this field then it definitely features a lot to supply and if you’re a hardworking person then you’ll get the highest salary jobs in the commerce field. Even though you don’t go for professional courses like CA or CFA, there are also some short term job oriented professional training programs available in the market to get entry in the commerce field job. Link for one of most sought after accounting course for commerce students is provided herewith.