The Bachelor’s in Commerce (BCom) is one of the most popular degrees in commerce, finance and related fields. After the 12th Commerce stream, students can opt for a BCom degree that has a lot of scope and demand for further studies and in career. In this article, we will discuss the top 10 jobs for BCom graduates.
This undergraduate course offers students a wide range of skills and understanding in streams like Economics, World Finance, Accounting, Taxation, Business, Insurance and Management. BCom is an interesting course for those who are passionate about money and its management. In this article, we will discuss in detail the top 10 jobs for BCom graduates in India.
To know more about the BCom course, its eligibility and subjects, head over to this blog.
Best 10 jobs in BCom in India:
1. Chartered Accountant (CA)
The Chartered Accountants are responsible for implementing accounting systems and processes, preparing monthly financial reports, budgets and expense report. CA handles all the financial information that the company produces. They even provide financial advice to clients, conduct internal and external audits, and also provide assistance with tax planning.
These people work on their own or with a team depending on the size of the organization. Chartered Accountants are crucial for analyzing and assembling financial reports for the company. Without their work, a company might not know exactly how much money they are spending in different areas and how they might improve their spending and overall revenue.
A bachelor’s degree in accounting, finance or business is required for this position. Accountants are also required to complete an additional two-year accounting program to become chartered. Popular skills Chartered Accountants must have:
- Financial Analysis
- Financial Reporting
- Tax Compliance
Along with this, they should be familiar with tools which are financial and statistical software, Microsoft Office Suite, Microsoft Excel, Microsoft Word, etc.
Average Salary: Chartered Accountants in India typically earns about 66,000 INR per month.
2. Company Secretary (CS)
As a Company Secretary, they need to ensure that the company runs according to the financial and legal requirements, as well as maintaining the company’s high standards of corporate governance. They provide legal and financial advice during board meetings, committees and annual general meetings. They deal with correspondence, collate information and write reports, communicate decisions to relevant company stakeholders.
Company Secretary needs to keep themselves updated with any regulatory or statutory changes and policies that might affect the organization. They have to contribute to meeting discussions, and when required advise members of the legal, governance, accounting and tax departments of the implications of proposed policies.
For this position, the applicants should have a bachelor’s degree in disciplines like:
- Accounting and Finance
- Business and management
Also, these secretaries should possess the following skills:
- Strong administrative skills and IT software
- Commercial awareness
- Excellent organization and time management
- Ability to take initiative
- Attention to detail and a well-organized approach to work
- Discretion and diplomacy
Average Salary: Typically, the Company Secretary earns about 52,000 INR per month on an average in India.
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3. Financial Analyst
Financial Analysts are responsible for performing financial planning and forecasting, studying demographics, market trends and microeconomics. They have to analyse current and past financial data to identify trends and to prepare reports using such insights.
They consult with the management team to develop long-term commercial plans, suggesting budgets and improvements for the organization. Financial analysts develop financial models and policies that may improve financial growth.
To become a Financial Analyst, the applicants must have studied the following subjects while pursuing their BCom degree:
Financial Analysts are expected to incorporate the following skills and qualities:
- Good verbal and written communication skills
- Knowledge of statistical analysis and financial forecasting
- Staying updated with industry trends
Average Salary: The average salary for Financial Analysts in India is 35,000 INR per month. It can go beyond 80,000 INR per month for experienced analysts.
4. Tax Consultant
The primary role of a Tax Consultant is to advise people and organizations about their tax payments. They are experts in tax laws, tax compliance, tax planning and tax reporting. Tax consultants can be hired by both individuals or by large organizations for the short-term or long-term.
Along with that, Tax Consultants work closely with their clients to minimize the tax liabilities in the future. Also, Tax Consultants help to make legitimate investments like life insurance, car insurance, health insurance, pension plans, and other tax-saving schemes by the government.
To become a Tax Consultant, aspirants must know fields like:
- Legal knowledge
- Tax Compliance
- Tax preparing
- Microsoft Excel
Average Salary: Tax Consultants typically earns 43,000 INR per month in India.
Auditors are specialists who examine financial records, business records, financial statements, reports and documentation. They verify assets and liabilities by comparing items to the documentation.
Auditors must ensure that the company’s financial statements and records are accurate and truthful. For this, they perform audits (internal audits and/or external audits). An auditor can be self-employed, work with a company or for the government.
A bachelor’s degree in BCom or Accounting or a relevant field is required to become an Auditor. For Auditors, sometimes it takes a lot of patience and endurance to piece together various information to attest to the accuracy of records. That’s why they must be:
- Good problem solvers
- Good communicators
- Can stay with a particular task for a long time
Average Salary: Typically, the auditors earn on an average of 40,500 INR per month in India.
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6. Financial Consultant
A Financial Consultant is responsible to plan the financial future of an organization. They tell about profitable investment ideas and other beneficial planning for the organization. Financial consultants have to develop financial strategies, in-depth financial reports, forecast the fiscal year, monitor the current financial situation and take necessary actions.
They must guide clients through financial self-analysis, including goal setting and advice to reach goals. They have to follow up with clients to plan, track successes, and inform modifications about their financial tasks which might be real estate management, tax returns, budgets or other tasks.
A Financial Consultant should have good experience and a bachelor’s degree in a finance-related field. Popular skills a financial consultant should have:
- Financial Analysis
- Financial Reporting
- Data Analysis
Average Salary: Financial Consultants earn on average 53,300 INR per month in India.
7. Cost Accountant
Cost Accountants helps businesses by supervising and analysing cost expenditures and purchases made within the organization. They develop and maintain cost accounting systems, records and documents, and recommend various cost-saving techniques.
They suggest which products and raw materials are best suited for the company, and if required, they need to create a costing system that can continuously evaluate the value of inventory and associated costs. A Cost Accountant often helps senior management to make key decisions related to product pricing, operational costing, material costing, goods and service cost, and even employees’ salaries.
A bachelor’s degree in accounting, finance or other relevant field is necessary for this position. Also, cost accountant should possess the following skills:
- Financial Analysis
- Knowledge of basic computer programmes like Microsoft Office Suite, Excel, Word, etc.
Average Salary: The average salary of Cost Accountants in India is around 47,500 INR per month.
8. Investment Banker
When companies need to raise capital, one of the best ways to do this is to hire an investment banker. Investment Bankers assist companies, organizations, and other entities in raising public or private funds through equity or debt offerings. They build detailed financial models to analyze and support M&A (Merger and Acquisitions) transactions and FP&A (Financial Planning and Analysis) work.
It is the job of investment bankers to maximize the company’s investment returns. They need to participate and manage all stages of transactions and financial activities. Also, they need to provide facts and results to their clients for decision making.
To become an Investment Banker, applicants should have possessed a bachelor’s degree with an understanding of the topics including Finance or Business, Banking, Accounting or other finance-related fields.
Along with this, Investment bankers require to have the following skills:
- Investment Management
- Financial Data Analysis
- Mergers and Acquisitions
- Financial Modelling
And other soft-skills:
- Strong Communication and Networking skills
- Time Management skills
- Ability to work in a fast-paced and team-based environment
- Knowledge about computer applications especially Microsoft Office, Excel, Word
Average Salary: Investment Bankers in India typically earns around 78,500 INR per month.
Organizations hire Accountants to audit accounts, provide financial advice and undertake accounts administration. They perform financial calculations which include creating sales and cash flow reports, administering payroll, keeping balance sheets, carrying out billing activities, managing budgets and keeping inventory.
The accountant should be able to create detailed and accurate reports for future use. Sometimes these records have to be presented to the management team.
A bachelor’s degree in accounting is required to become an Accountant. Other skills they require are as follows:
- Financial reporting
- General Ledger Accounting
- Accounts payable
- Knowledge of accounting software like Quickbooks and Microsoft Excel
Average Salary: The average salary for Accountants in India is 20,700 INR per month.
10. Insurance Consultant
The job of Insurance Consultants is to review individual and company requirements before proposing custom-made coverage plans. Also, they supervise the processing of legitimate insurance payouts.
They analyse current insurance packages and identify suitable insurance packages. They issue non-binding insurance quotations and process clients’ valid insurance claims. Also to rectify client queries and provide advice and recommendations.
A High school diploma is the minimum educational requirement to become an Insurance Consultant. Along with this, the applicants should complete the Insurance Regulatory Training organized by Insurance Companies.
Average Salary: On average, Insurance Consultants in India earns around 18,500 INR per month.
These are the top 10 jobs in BCom. We can thus conclude that a bachelor’s degree in BCom or any other finance-related degree is required to get a job in this industry. Now you might be thinking about how to get started in this field?
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