Exploring Top Career Paths After M.Com
Master of Commerce (M.Com) in India is a strategic step in the pursuit towards a strong foundation in finance, accounting, business management, and economics.
Strong gist about main business practices makes the hands of graduate M.Com eligible for high-range lucrative career paths.
Digital education has made it in vogue to choose an online Mcom in India, as this way students get flexibility in accessing the degree.
We will explore in this article the top 10 career options after M.com that not only promise high paying salaries but also long-term growth up the career ladder.
We also look at some of the best M.com colleges in India as per NIRF ranking so that the student is well-equipped with the right academic institutes to start his journey.
Best Career Path After M.Com
After completing an M.Com in India , other career options are excellent for graduates in banking, finance, investment, auditing, and education among many other industries.
Therefore, M.Com graduates may lead in choice highly rewarding career possibilities depending on specific interest and competence, like corporate finance, taxation, and economic policies.
Best salary and growth opportunities career paths after M.Com:
- Chartered Accountant (CA)
CA is one of the most distinguished professions in finance and accountancy.
CAs are essentially a sine qua non for businesses and organizations for managing matters in taxation, audit, financial reporting, and management accounting.
Post-M.Com, many students do take up the option of CA certification to acquire more credentials.
CAs can hope to earn an average salary between INR 8-25 lakhs a year, depending upon the level of their experience and expertise.
- Financial Analyst
It is that investment and finance decisions need analysis of financial data and trends in the market.
This job for M.Com graduates pays well with analytical skills, generating salary up to INR 6-12 lakhs annually.
However, compensation here ranges from hundreds of thousands to millions in multinational corporations and investment firms after adequate experience for senior financial analysts.
- Certified Management Accountant (CMA)
A CMA is a professional whose core work is in the space of financial management and strategic planning.
This includes budgeting, performance evaluation, cost management, and also analytical risk.
A certificated CMA unlocks a lot of doors to high-paying jobs with salaries ranging from 7 lakhs INR annually to 20 lakhs INR annually for a senior role.
- Investment banker
Investment banking is one of the most sought-after career options for M.Com students.
Investment bankers assist companies in raising funds and strategizing on critical mergers and acquisitions, among other opportunities.
initial-level salaries range from INR 10 lakhs and go all the way up to over INR 30 lakhs for senior bankers.
- Cost Accountant : Cost accountant specializes in cost and expense-related financial analysis, and advises companies on their operations so that profitability may be optimized.
M.Com degree can prove excellent in this line, especially with a professional certification, like ICWA.
This kind of cost accountant in India draws salary in between INR 5-15 lakhs per annum, which varies as per industry and experience.
- Tax Consultant: Tax consultants advise businesses and individuals on how to minimize tax liabilities while complying with the law.
M.Com graduates specializing in taxation can earn between INR 5 and 12 lakhs, based on their client base and experience. Those working for multinational corporations can charge more.
- Professor/Lecturer : Teaching at universities or colleges is a very satisfying career for those with a love for academics.
If they pursue the Ph.D. or NET qualification, M.Com graduates can be professors, earning 5-10 lakhs every year.
- Corporate Finance Manager: They have to administer and manage the financial activities of a company, which involves budgeting, risk, and financial planning.
So, if you are M.Com, with a finance-related qualification or an MBA, expect around 10-20 lakhs per annum as a finance manager.
- Company Secretary (CS) : A Company Secretary (CS) ensures that an organization complies with corporate regulations and laws.
CS professionals are in very high demand, and the scales range from INR 6-10 lakhs per annum with huge scope for growth in larger firms.
- Auditor: Auditors verify and confirm the financial statements of an organization to be in accordance with the regulatory standards.
An average of INR 6-14 lakhs per year is provided to the auditors as remuneration, but this may vary with the size and type of the business.
Top NIRF-Ranked M.Com Colleges in India
One of the best M.Com colleges in India, as ranked by NIRF plays a very significant role in preparing individuals for such high-paying careers.
Here are some of the top-ranked institutions offering quality M.Com programs:
- Indian Institute of Management (IIM) Ahmedabad
-Ranked 1
– renowned for its brilliant faculty and industry connections.
- Indian Institute of Management (IIM) Bangalore
-Ranked 2
– that provides a robust curriculum focus on finance and business management.
3.Indian Institute of Management (IIM) Calcutta
-Ranking 3
-Accounting, finance, and economics
- University of Delhi (DU)
– Ranking 13,
– M. Com focus accounting, finance, and business studies
- Banaras Hindu University (BHU)
– Ranking 14,
– Commerce and Economics Academic Strength
- University of Mumbai
-Ranking 27,
-Commerce and their Industry Affairs.
- University of Calcutta
– Ranked 31
– Offers some specialized finance and business courses.
- Jawaharlal Nehru University (JNU) ,
– Ranked 2
– M.Com with a very research and analytical approach.
- Jamia Millia Islamia (JMI)
– Ranked at 7.
– great commerce department with extensive placements.
- Amity University
-ranked 1
– modern curriculum and corporate connections, amongst the best private universities in India.
The M.Com fees in India of this course differ from one institution to another; they generally range between INR 20,000 and INR 2 lakhs every year.
Conclusion
After completing an M.Com in India, there are various excellent opportunities with great and high-paid prestigious jobs.
Whether you opt for financial analysis, CA, or become a professor, knowledge and skills taken from the institute of M Com set the base ground for your future.
Online M Com in India is also useful for working professionals to gain better career prospects without leaving their job.