Popular M.Com Specializations in India: Choosing the Right Path for a Successful Career
Master of Commerce (M.Com) is the postgraduate course offering vast knowledge in commerce, economics, finance, and business.
The article will go in-depth into the in-demand M.COM specializations in India, explain some of the most rewarding careers after M.COM, high-value jobs for M.COM graduates, and an insight into the best M.com colleges in India based on NIRF rankings.
Be it a regular M.com or M.com (Hons), this guide will enable you to make the right choice.
Popular M.com Specializations in India
- Com in Accounting and Finance
One of the most coveted specializations, M.Com Accounting and Finance, is the course best suited for those who want to pursue the depth of financial accounting, corporate finance, and auditing.
It makes those students fully prepared for chartered accountants, financial analysts, and corporate finance managers.
- Com in Taxation
Tax is the domain where various direct and indirect tax laws, such as income tax, GST, and international taxation, are studied.
- Com in Banking and Insurance
This specialisation is on banking laws, principles of insurance, and risk management.
The student will ready the students to be placed within financial institutions such as banks, the insurance companies, and investment firms.
- M.Com in International Business
With globalization, businesses are more in need of professionals who can understand international trade and commerce.
The M.Com in International Business prepares students for work-related areas like export-import management, international marketing, foreign exchange management, and global logistics.
- M.Com in Business Analytics
Business Analytics is the latest stream of business analytics that links data analysis with decision making in a business.
Graduates will be best suited for positions like data analysts, financial consultants, and a business intelligence professional.
Best Career Paths After M. Com
The career options for M.Com graduates depend on the specializations opted for by them.
The appropriate career path after M.Com varies to a significant extent based on individual interests and areas of strength for individuals who are looking to work in a given industry.
- Chartered Accountant (CA)
Many M.Com students go on for the CA qualification after completing the degree.
A post-graduation degree like M.Com and CA qualification prepares a student for senior level accounting and auditing jobs in any public or private companies.
- Company Secretary (CS)
An M.Com with CS is also a good degree for corporate governance legal matters and is also in demand across sectors about that particular area of ensuring compliance with corporate laws.
All the above ones involve issues of the board room.
- Certified Public Accountant (CPA)
A CPA qualification is an excellent choice for international-level jobs for M.Com aspirants.
It is considered one of the most excellent certifications, enhancing the employment prospects of an M.Com graduate, especially in multi-national establishments.
- Banking Professional
M.Com graduates with specializations in finance, banking or insurance can have potential lucrative careers in banks as a branch manager, credit analyst, loan officer, investment banker, etc.
- Lecturer/Professor
Another very enriching area for M.Com pass outs is academia.
The students who are interested in teaching can continue their careers in college or university by either appearing at the UGC NET exams or by doing research work and achieving a Ph.D. in commerce-related subjects.
High-Paying Jobs for M. Com Graduates
M.Com holds various high-remuneration jobs for specialized graduates.
Some of the best jobs that are offered great pay packages include:
- Financial Analyst
Financial analysts examine financial information to help businesses make decisions on investments.
With time, financial analysts can move on to a position like the senior analyst or portfolio managers, for which good salaries are also available.
Salary for a financial analyst in India begins at 4-6 lakhs per year, but by experience, it increases manifold.
- Tax Consultant
The business as well as individual is availing tax consultants. With the increasing tax laws, good tax professionals are in demand.
On experience and client list, a tax consultant earns 5-7 lakhs per year.
- Investment Banker
Career in Investment Banking: The profile of the investment banker is very demanding and challenging.
The initial salary ranges from INR 7-10 lakhs per annum, and after gaining experience, salaries can literally scale up to INR 25 lakhs and beyond.
4.Bank Manager
A few years of experience in the banking sector and M.Com graduates can find themselves galloping to managerial positions.
Bank managers are responsible for looking after the branch operations, customer relationships, and financial targets. Salaries of bank managers lie between INR 6-8 lakhs per annum.
5.Business Consultant
M.Com graduates can work as business consultants who advise on a company’s strategies, operations, and finances. Experienced consultants may earn INR 10 lakhs and above per annum.
Top-ranked M.Com Colleges in India According to NIRF Ranking
Of course, choosing the right college would determine one’s future. However,
here are some of the best M.Com colleges in India according to the NIRF rankings:
- Shri Ram College of Commerce (SRCC), Delhi
– NIRF Ranking: 1
– M.Com Fees in India: Approx. INR 60,000 per year
– SRCC has excellent faculty and placement records and is one of the top colleges in India to pursue M.Com.
- Loyola College, Chennai
– NIRF Ranking: 4
-M.Com Fees: Approximately INR 30,000 every year
– Loyola College is primarily for commerce courses but specifically the finance and tax training courses.
- Lady Shri Ram College for Women, Delhi
– NIRF Ranking: 2
– M.Com Fees: Approximately INR 40,000 every year
– This highly prestigious women’s college offers fantastic M.Com programs in addition to satisfactory career guidance facilities.
4.St. Xavier’s College, Kolkata
– NIRF Ranking: 7
– M.Com Fees: Around INR 60,000 per year
– St. Xavier’s has good commerce courses and placements as well.
- Hindu College, Delhi
– NIRF Ranking: 9
– M Com Fees: It is around 50,000 rupees per year
– Hindu College is known as one of the finest Commerce colleges in the country.
Conclusion
M.Com course in India is present in both traditional modes and the online M Com in India courses, which allows students to study from a wide range of specializations and career options in India or abroad.
With a huge demand for M.Com graduates in these fields, including accountancy, taxation, banking, and international business, several employment opportunities are ahead for students with high remunerations.
Choosing the best M.Com colleges in India as per the NIRF ranking will provide quality education combined with assistance in placement, thus paving the way for brighter prospects in the long run.