How can a MCom Course help you Develop your Career in Commerce?
For students with an interest in the field of commerce, the Bachelor of Commerce course is usually the top pick for undergraduate studies. However, with the Bcom degree being so popular in our country, the top career paths in the field of commerce often remain very hard to achieve with just an undergraduate degree. That is why many Bcom graduates often opt to study for a Mcom first, before dipping their toes in the job market.
In this blog, we talk about the Mcom course in general, while discussing how getting this postgraduate degree for Mcom colleges in Coimbatore and the rest of the country can be a blessing for your career. Read on to find out how exactly an MCom helps you develop your career in the commercial field.
Table of Contents:
1. MCom: A Quick Overview
2. How a Mcom Helps in Developing Careers in Commerce
b. Chartered Accountancy
c. Company Secretaryship
3. Other High-Paying Certifications for Great Careers
MCom: A Quick Overview
A Mcom is a postgraduate degree in the field of commerce that students can pursue after completing their B com. This course goes more in-depth into the various subfields of commerce and finance, thus equipping students with a broader range of skills and knowledge. Mcom courses come in various specializations too, like the Mcom with Computer Applications at Cheran Women’s College – one of the best women’s colleges in Coimbatore. Some of the other common Mcom specializations that can be found in India include:
- International Business
To know more about the other details about Mcom courses in general, take a look at the table below.
|Course Name||Master of Commerce (M Com)|
|Mode of Admission||Semester System|
|Eligibility Criteria||Minimum of 50% marks upon graduation (Maths as a core subject demanded by some institutes)|
|Average Fees||INR 55,000|
|Average Salary||INR 4 LPA|
|Top Recruiters||ICICI, EY, Deloitte, Accenture, KPMG, HDFC, etc.|
How a Mcom Helps in Developing Careers in Commerce
The BFSI (Banking, Financial Services, and Insurance) sectors are generally the core industries Mcom graduates can be found working in. The master of commerce course is generally seen as a stepping stone by most students who want to work in these or allied sectors. This is because the Mcom syllabus in Women colleges in Tamilnadu and other states of India is designed in such a way that it helps a lot in understanding the coursework of many professional certifications that are necessary to get a chance in some of the highest-paying jobs available to commerce students.
And that is in addition to preparing for many other job roles in various sectors. We’ll be talking about these in the sections below.
MBA, which stands for Master of Business Administration, is one of the top courses a Mcom graduate can pursue. This degree also comes in a variety of specializations in specific fields like business analytics, human resources, digital finance, etc. The popularity of MBAs is partly due to their focus on case-study-based learning, which trains students to think on their feet and make quick decisions. MBAs are a surefire way to get into managerial positions with high salaries and that is why they are so preferred by not just graduates from Mcom colleges in Coimbatore, but rather graduates from all fields.
Average Salary: INR 7.2 LPA
CA or chartered accountancy is one of the most sought-after careers for those in the commerce stream. This job can be gotten in two ways:
- A CA certification from the ICAI (Institute of Chartered Accountants of India)
- Or, a Certified Chartered Accountant certification from the ACCA (Association of Chartered Certified Accountants) in America.
Both these certifications can be pursued right after high school but a Mcom helps a lot in cracking the multi-level examinations that these certifications require students clear. This is because the syllabus for both Mcom and CA certification exams have elements in common.
Average Salary: INR 8 LPA
The role of a company secretary is another certification that many Mcom graduates from womens colleges in Coimbatore and other parts of India aspire for. A CS is tasked with overseeing all the financial and legal matters of the company at the top level, and hence this certification course also requires the students to pass a 3-level exam. After completing all the exams and undergoing 15 months of practical training, the students earn a membership of the ICSI (Institute of Company Secretaries of India).
Average Salary: INR 5.8 LPA
Research and academics is also a field that appeals to many Mcom graduates. You can pursue a Ph.D. after completing your Mcom from the best women’s arts colleges in Coimbatore or any other college that offers it. Apart from JRF (Junior Research Fellowship), there are also many fellowship programs you can pursue at international universities. Or you could just get a B.ed after completing your Mcom if you want to teach at the school level.
Average Salary: INR 4 LPA
Other High-Paying Certifications for Great Careers
Some of the other certification courses that you can pursue after your Mcom to get jobs with high salaries include:
- Certified Management Accountant
- Chartered Financial Analyst
- Certified Public Accountant
- Financial Risk Management
- Certified Financial Planner
Other than all the options mentioned above, a Mcom degree also enables you to start your career in investment banking, banking, accountancy, digital marketing, and many other fields. Mcom colleges in Coimbatore like Cheran Womens’s College really help a lot in bullying fundamental skills and knowledge that are very essential to do well in your career in these fields.
1. What is the average salary of a Certified Financial Planner in India?
The average salary of a Certified Financial Planner in India is around INR 3.4 LPA.
2. What do financial risk managers do?
Financial Risk Managers usually work to identify and analyze potential financial threats. They might serve in domains such as credit and market risk, trading, sales, marketing, and financial services.
3. What is the difference between an accountant and a certified public accountant?
Certified Public Accountants have an extra license from the American Institute of CPAs, which can only be obtained after a rigorous 4-part exam. That is why they are paid more than ordinary accountants too.
4. Whose salary is higher CA or ACCA?
ACCA-certified chartered accountants generally have more demand and are paid higher than CAs. However, that is only for the people who have cleared all 3 levels of the ACCA certification.