Having cleared your boards one has to decide various career options for commerce students that an individual can avail through his/her course. Gone are the days where job opportunities were restricted to certain fields. But now students can choose from plenty of options.
List of Career Options
Here are the lists of 10 best career options for commerce students background can opt for:
A Chartered Accountant is one of the best career options for commerce students. A person from a commerce background is likely to get into a Chartered Accountancy professional course. A candidate can easily get into this job through a series of examinations, internships, and additional qualifications. The Institute of Chartered Accountants of India or ICAI nominates an aspirant as a chartered accountant. The job of a CA is to handle company accounts and finances in order to maintain the records and rescue an organization from an uncertain and unpredictable business environment.
The role of a Chartered Accountant is one of the most important roles in an organization; it is an indispensable job description for a business, therefore, is one of the highest-paid jobs in India, one can expect a salary of 6 to 7 lakh rupees per annum and the value keeps on increasing as the qualification of an accountant increases. The level of difficulty under this source keeps on increasing as a result it requires immense hard work and practice. This course includes varied subjects such as taxation, auditing, financial management, and accounting. This profession is as lucrative as demanding, therefore one needs to work hard in order to avail yourself best opportunities coming your way.
An investment banker holds the most lucrative and the most vital position in a business organization. Therefore, is the best career option for commerce students. Since commerce students deal with numbers and finances, hence they are deemed as the one who advises or suggests the organization on issues such as investment, money, or savings. The main job description for an investment banker is to provide financial recommendations in order to help business organizations optimally use their resources and to be able to reach their goals. A person with good knowledge of financial assets and investments can opt for this occupation. There are varied roles in this occupation such as analysts, associates, etc.
This field requires individuals to stay updated and on their feet since they need to constantly monitor the market as there are a number of factors that can cause an upward or a downward movement in the market. Investment bankers help companies to make sound decisions regarding investment with the motive of increasing the value of their assets.
An investment banker can earn a handsome salary that is approximately 26 lakh rupees per annum.
A cost accountant is one who emphasizes the fundamental and conceptual basis of accounting. It relates to financial analysis, business organization, money, the principle of economics, and various other elements of the business financial world. If Managing cost operations of a company and optimization of resources is what excites one the more than cost accountant can prove to be the best career opportunity in commerce.
The job of a Cost Accountant is to prepare the budget, assets of the company, and evaluation of the performance of the company. To become a cost accountant one needs to go for a bachelor’s degree and then for other higher degrees for higher positions. Accounting is one of the career options for commerce students that need hard work and practice. Preparation of financial reports for a variety of stakeholders such as tax holders and other regulatory bodies is an important part of accounting. A beginner can earn a handsome salary of 4 lakh rupees, this sum helps to give a push to the aspirants to get into the job. This occupation helps an individual to apply his/her commerce knowledge practically into real-life business situations and, thus helps an organization to maximize their profitability with such potential candidates.
Actuaries are the ones who regulate various financial management of resources. They study the impact of financial risk and financial uncertainties in the changing business world. An actuary is the most responsible and the innermost part of the financial department of an organization thus every action of it heavily impacts the overall fate of a business organization. It can be one of the most flourishing and the best jobs in the commerce field.
They assess various financial assets and security systems and constantly monitor the day-to-day complexities. It deals with numbers, analysis, assumptions, and other parameters to jeopardize business risks.
The skills that are required for actuaries are analysis, valuation, asset and liability management. A good understanding of the market and its mechanisms are some of the important elements that need to be studied in the job in order to assess assets and control risks. A student should have a background in economics, business studies, and finances.
An actuary gets an annual salary of 10-14 lakh. As soon as the candidate goes for a higher qualification this amount keeps on increasing making it beneficial for both actuary and business organizations both.
A financial planner is a company’s planning partner and an educator, he/she may help an organization to meet short-term as well as long-term goals. They basically cure a business organization’s financial health, therefore, can be categorized as one of the most important career options for commerce students.
A financial planner works to get a complete picture of your assets, liabilities, income, and expenses through rigorous analysis and interpretation of the data available. It deals with numbers, assumptions, and an insight into the business world. Hence, it requires a good commerce background in order to fulfill these obligations. A financial planner is not only responsible for just financial decisions but the latter also strategizes tax issues, savings, budget, and evaluation of current as well as the future situation of the business firms.
The job of a financial planner is to synthesize various initial premises. After that, then evaluate each and every alternative and select the most viable one. This whole procedure requires a good understanding of business elements that are responsible for the task being performed. Financial decisions directly impact the working of a business firm. Therefore, any decision taken should be evaluated with utmost care and intelligence.
Banking is one of the most common and demanding careers in India. A student from a commerce background will always prefer to get into this sector of the economy.
The demand for banking as a career is growing day by day. This is because they are truly the backbone of a country’s economy. There is a rapid growth in employment opportunities in the banking sector. It has paved way for many aspirants who really want to get into it. As a result, a Huge demand has created opportunities in the form of jobs for a number of candidates. There are many vacancies in both the public and private sectors. Both these sectors require good qualifications as well as a good educational background. A candidate needs to go through various banking examinations in order to get selected for the job.
A convenient, government job with a good salary, and high social acceptance is all that an individual aspires for. With the emergence of new local/foreign/national banks, the job market is continuously booming for commerce students. Traditionally students with a commerce background automatically find themselves associated with banking as a job. Other course students are not really ventured into it, but nowadays any student with a bachelor’s degree can get into the job thus making it the best career option in commerce.
A company secretary acts as a conscience seeker for a company, he /she holds a principal position in an organization
The job of a CS is to keep a track of tax returns, keeping returns, he/she has o advice to the board of directors, and has to make sure that the company works within legal and ethical compliances. he/she acts as a mediator between different stakeholders of the company such as the shareholders, government, board of directors, etc. The ICSI i.e. the institute of company secretaries of India is a statutory body that regulates the profession of a company secretary. They provide training and education to millions of aspirants and are a recognized body responsible for making an aspirant a CS.
A candidate has to complete three levels of examination under ICSI. The field requires expertise in company law. Good command of language is also necessary. They should be competent with numbers and at the same should be meticulous planners. Thus it can be categorized as one of the best career options for commerce students. It can also prove to be one of the best jobs in the commerce field. One can expect a hefty salary of 6- 7 lakhs per annum.
Insurance professionals are in high demand nowadays, they act as a mediator between the insurance companies and the customers. They communicate a company’s schemes and offers to the customers helping them to choose the best out of available and at the same time communicating customer’s grievances to the company, it will help a business organization to constantly change their policies according to customer’s choices as their ultimate goal is to serve customers.
This sector has shown a growth spurt in the past few years. The job prospects in his field are also booming day by day. An aspirant can perform various roles being a part of this occupation ranging from an insurance agent to a sales manager or as an insurance underwriter. The skills required for the job are good communication skills, a good understanding of business terms, and at the same time explicitly convincing power is all that is required in the job. This job can prove to be one of the best career options for commerce students, as a commerce student is more clear and straight with various policies and schemes of the business world he/she has got a good understanding of future financial situations.
Stockbrokers are the most flourishing market for both investors and companies. Stockbrokers sell financial securities or stocks in the market. The market keeps on changing constantly. Therefore, a stockbroker needs to constantly monitor the upward or the downward movement in the market. It is the best opportunity for an aspirant. For this job, you need to keep a close look at the functioning of the market. Moreover, you also need a good understanding of how SENSEX, NIFTY works.
This job is accessible for every individual irrespective of their study background. However, it is more feasible for a commerce student as these students have a deep insight into various financial terms. They are studying the subject in their schools and colleges. They can easily grasp the complexities of various investing mechanisms. One can get into various positions being a stockbroker. For instance, financial advisor, dealer, investment advisor, fundamental analyst, equity advisor, and many more. A stockbroker is the most lucrative career option for commerce students.
Management accounting is also known as managerial accounting. It is one of the best career options for commerce students. The basic work in this field is to provide financial information and needed resources to the company managers. They help in the decision-making process of a firm. In this procedure the financial department shares various financial statements, invoices, and other important pieces of financial information with them. The main motive behind managerial accounting is to enable the management staff is to make accurate decisions with the use of accurate statistical data. They help run the business decision operations of the company smoothly.
A role of a management accountant plays a vital role in finding out various business risks. Only the internal members of the company use this form of accounting. This makes it different from financial accounting. It is the best opportunity for a commerce student. This job implements theoretical knowledge practically in real business life situations.
These have been the top 10 career opportunities and the most highly paid jobs for a commerce student. So if commerce is one’s calling he/she doesn’t need to buck under traditions and various societal pressures. Look for opportunities. An experiment in your field. Go for the role you want to play in this economic world and fly with successful colors. One needs to look out for his/her passion and rely on the stuff that beckons.