Is Teaching a Career Option After M.Com?
Is Teaching a Career Option After M.Com?
A postgraduate M.Com is the course of study most students pursue for the enhancement of deeper learning experiences in commerce and finance.
One possible career path after graduating with an M.Com is to teach. The job is rewarding, stable, and even respectable in terms of remuneration.
In this paper, we shall discuss how M.Com can transition into teaching as a profession
Can Teaching Be a Career After All?
The short answer is that yes, a teaching career is not only possible but promising for those with an M.Com.
Candidates who plan to teach at the higher secondary level in schools have to pass general teaching eligibility tests like TET (Teacher Eligibility Test) or CTET (Central Teacher Eligibility Test).
These tests determine the aptitude and knowledge of candidates to teach at the school level.
For this, an M.Com degree holder needs to clear the National Eligibility Test* (NET) or State Eligibility Test (SET) conducted by different institutions, including the University Grants Commission (UGC).
Furthermore, M.Com pass outs who are interested in specialized teaching can pursue further Ph.D. in commerce or other areas and can achieve teaching positions in very prestigious institutions.
Best Career Options After M.Com
Teaching may be the best career for M.com graduates, but there are lots of high pay scale careers across public and private fields as well.
Let’s have a look at some of the best options:
- Chartered Accountant (CA)
After M.Com, a student likes to appear for the Chartered Accountancy exam. This, of course, is tough, as much efforts and energy are involved.
There is perhaps no other job in the finance industry that pays one this much.
- Company Secretary (CS)
Another rewarding career opportunity open for M.Com graduates is the Company Secretary CS course. A CS is the vital office in a company and holds an important position in corporate governance, compliance, and legal matters of an organization.
- Financial Analyst
M.Com graduates with a flair for financial markets and investments can opt to be a financial analyst. The job profile involves scrutinizing all sorts of financial data, thus preparing reports.
- Tax Consultant
A career in tax consultancy is a great option for M.Com graduates. As a tax consultant, you help people and organizations maintain optimum tax liabilities. You can also handle tax planning, compliance, and representations before tax authorities.
- Lecturer or Assistant Professor
Again, M.Com graduates can obtain teaching jobs in colleges and universities. As more courses in commerce are being launched, the demand for qualified lecturers is also rising. Additionally, college and university teaching jobs have job security and enough remuneration.
- Banking and Finance Sector
The banking and finance industry offers a number of career options to M.Com passouts, such as investment banking, corporate finance, retail banking, and credit management.
- Cost Accountant
M.Com graduates can also avail the cost accountants’ certification from Institute of Cost Accountants of India (ICAI). The demand for cost accountants has been significant in different kinds of industries
High Paying Jobs for M.Com Graduates
After successful completion of the M.Com program, graduates can find good high-paying jobs in finance, banking, corporate governance, and academia.
Some of the best high-paying jobs that are available to M.Com graduates include:
–Chartered Accountant : CAs can earn between 6 to 20 lakhs per year, depending upon their experience and skill sets.
–Company Secretary : CS professionals’ salaries range between 4 to 12 lakhs per annum; their earning potential is even higher in multinational companies.
– Financial Analyst: The average remuneration package for financial analysts begins with about 4 to 8 lakhs per year and can grow.
– Tax Consultant: Those who have consultancy experience for a number of years can gain as much as ₹5 lakhs per annum. During the season, increased income is also in line with tax consultancy.
– Banking Sector Professionals : A managerial job, for instance bank manager or financial analyst or credit manager, offer an average income of between 5 to 15 lakhs yearly.
Best M.Com Colleges in India according to NIRF Ranking
If you wish to pursue M.Com in India, then one of the established colleges is a passport to a good career.
Here are some of the best M.Com colleges in India according to NIRF:
- University of Delhi
- NIRF Ranking: 13
- Com Fees: 10,000 – 25,000 per year
There are several specialized streams at the university, and commerce is one of the top choices. India has many seeking M.Com.
- Banaras Hindu University (BHU)
– NIRF Ranking: 11
– M.Com fees: ₹6,000 – ₹10,000 per year
This is one of the most prestigious institutions for pursuing an M.Com, with high-class faculty and excellent placement opportunities.
- Jawaharlal Nehru University (JNU)
– NIRF Ranking: 2
– M.Com Fees: 400 – 500 per year
Though JNU is more popular as a centre for arts and social sciences, M.Com at this place is gaining repute due to its distinguished faculty.
4.University of Calcutta
-NIRF Ranking: 12
– M.Com Fees: ₹5,000 – ₹8,000 per year
One of the oldest institutions in India, University of Calcutta provides a well-balanced M.Com program with specializations for each course.
- University of Mumbai
– NIRF Ranking: 81
– Fee for M.Com : ₹ 10,000 to ₹ 20,000 per year.
The University of Mumbai places great emphasis on education of commerce and finance with a dedicated faculty and good industry networks.
Online M.Com in India
With more digital learning, many institutions now have online M.Com in India programs.
These are great for working professionals or students who may not be able to sit in class at a traditional campus.
The curriculum in an online Mcom program is the same as that in traditional campus-based courses.
Conclusion
The following points summarize the benefits of pursuing an M.Com degree in terms of career avenues:
Teaching and Academic Career Profile Jobs in Finance, Banking, and Corporate Governance Teaching is a natural calling for anyone who wants to make a profession out of education and can be achieved and rewarding at the same time.
Whether one aspires to the well-paid corporate world or towards a teaching profession with job security, an M.Com provides the appropriate launch pad for that purpose.