The study notices that the choice of a course in commerce is a right decision that would lead to a satisfying career. However, it is essential to bear in mind that all the paths within commerce do not produce similar financial results. For young learners as well as those employees who wish to earn more and more, the choice of the course is very relevant. In this blog, I will reveal which of the commerce courses gives one the best paying job and why it stands out best in the job market.
1. Chartered Accountancy (CA)
Business commerce has one of the most noble and well paid occupations in the entire business fraternity known as the Chartered Accountancy. CAs are proficient in offering accountancy, taxation, audit and other financial services thus being essential to both the public and private institutions.
Earning Potential: A freshly qualified CA may aspire to draw anywhere in between INR 6 to 9 lakhs per annum at starting level in India. However, it can grow to an enormous extent depending on the experience of the CA, where other senior CAs earns more than INR 20 lakhs per annum. This is especially due to the fact that international jobs are also capable of paying higher wages in terms of USD, sometimes even crossing six figure.
Why It’s Lucrative: The high demand for CAs may be attributed to the growing compliance requirements and regulation of taxes, and importance of properly being record and analyzed by an expert to make sound financial decisions for those businesses. They are highly demanded because they play the very important roles of managing the finances and making sure that the companies they manage meet all legal requirements.
2. MBA in Finance
Another best-suited course for commerce students looking for highly paid job is MBA in Finance. This course amounts down special callable for leading positions in the banking, investment, and cooperate finance.
Earning Potential: The salaries of MBA freshers who graduated from the country’s premier business schools range between INR 10 to 20 lakhs per annum. Once, the candidates get some experience and secure the employment with the reputed firms, the sounded salary can range between INR 50 lakhs or higher employment if one is engaged in investment banking private equity.
Why It’s Lucrative: Finance is an essential part of any organization, and MBA in Finance provides individuals with skills of handling finances, assessing the organization’s financial position and determining the right investment plans for the organization. The fact that they are capable of increasing profitability on one hand and handling risks on the other makes them very important to any organization.
3. Cost Management Accountancy (CMA)
These accountants focus on ability in management and control of costs which are important in organizations that wish to enhance operation.
Earning Potential: Entry level CMA professionals in India can expect an initial salary of 5 to 8 lakhs per annum while professionals having more than five years of experience earns more than 20 lakhs per annum. In multinational organization, particularly into manufacturing and production fields, the salaries can be much higher.
Why It’s Lucrative: Expense control is important to controlling costs – the more directly linked to revenue the better. CMAs assist organizations to gain efficiency, cut costs, and enhanced productivity – a factor that has influence on its performance or profitability. That makes them invaluable to the organisation due to their mastery of the rules guiding financial planning and analysis.
4. Company Secretary (CS)
A Company Secretary helps a company to adhere to legal requirements; a post that is instrumental to the success of every company.
Earning Potential: The salaries offered to a CS in India begin from INR 5, 00,000 to INR 7, 00,000 per annum and they can earn up to INR 15, 00,000 or more depending upon the period of experience and organization.
Why It’s Lucrative: In the framework of the modern organization functioning, the CS role plays a significant part in ensuring the legal framework of the company. They are well endowed in corporate law, mergers, acquisitions, and compliance are critical for the operation of corporate entities particularly those with quoted securities.
5. Certified Financial Planner (CFP)
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CFPs are experts in the management of money including investments, planning for the future and during the final phase of one’s working years, the need to plan for retirement.
Earning Potential: The candidates starting job/remuneration may vary in between INR 3- 6 lakhs per annum. But as they gain experience and get a good number of clients the earnings rise enormously and the best paid CFPs earns more than INR 20 lakhs per year.
Why It’s Lucrative: This has made personal financial planning to be on the rise as people strive to prepare for their future financial status. CFPs offer individualized service and this is cherished as it is known that people are willing to pay for individualized services, something that is clearly depicted in the high-net-worth individuals.
6. The Bachelor of Commerce (B Com) offered by the school offers additional focus area.
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Though, a general B. Com degree is considered good, but with certain concentrations like Accounting and Finance, Economics, or international Business the increase in potential pay can go up substantially.
Earning Potential: Banking and other financial sectors offer the B. Com graduates specialization package varying from INR 3 to 6 lakhs per annum. But there seems to be scope to earn more than INR 10 lakhs if one among the certified or experienced teachers.
Why It’s Lucrative: Major fields provide added curriculum that will prepare course takers for specific job markets. For instance, a specialization in International Business which is a course offered in most universities can make one work in trade departments where the earnings are good.
7. Investment Banking
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Financial consultants are known to be the highest paid experts in the sphere of finance and they enjoy solving investment banking related issues which involve raising capital for companies, mergers and acquisitions and any kind of financial consultations.
Earning Potential: Trainees at I-banks can earn anything between INR 10 to 15 lakhs per annum that can go upwards of INR 50 lakhs per annum depending upon the years of experience more so when they are working for some of the leading I-banks.
Why It’s Lucrative: Some of the careers that are most difficult to attain, and present extremely stressful work environments include investment banking however the return is commensurate with the intensity of the work. Considering that they can manage large and important value creating deals for financial firms, Investment bankers earn attractive remunerations.
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Conclusion
The process of choosing a course in commerce with lucrative prospects entails a number of factors such as interest, talent and proficiency. Even professional courses such as CA, MBA Finance, ACS etc are among few courses offering quite high salaries , other courses like CMA, CS and specialized B. com degrees also provide good number of job offers and quite good packages. This means that besides choosing the appropriate subject to study, it is also important for an individual to acquire appropriate experience and knowledge in the subject area of his or her choice through further learning. To help break the financial barriers higher education in line with the needs of current job market and other trends can lead to a prosperous career in commerce.
