Although M.com isn’t a very prevalent choice amongst the commerce graduates, few of us take up this course for totally unique ambitions.
Usually, people use M.com as a ladder a career in teaching – To become a college professor, or atleast a commerce teacher at school level.
HOWEVER, there’s much more to it. Not just teaching, there can be other good career options after M.Com that you might have never heard of.
I’ll be listing down each one of them, along with all the WHYs and HOWs.
Read this article till the end to make an informed choice.
1. Fellow Program in Management (FPM)
Many of you might have never heard of it. It’s an infamous, but one of the highest rewarding course after M.com. It’s one of the Flagship programs of top IIMs where minimum required qualification is M.Com or M.A.
Thus, you can leverage your degree to make an entry into FPM. It’s equivalent to a PhD in Management.
It’s almost a 5 year, Degree program, which can land you dignified jobs as a Professor in top B Schools.
If you become a professor at a top MBA College such as ISB, IIMs, XLRI, MDI etc., then you might also get research opportunities in Finance & Strategy.
2. Financial Modeling and Valuations (FMV)
If you want to get a decent job in Core Finance right after your M.com and you don’t want to spend another 5 Years in PhD, then is the BEST choice for you.
Yes, you heard it right. This is the most demanded skill in finance industry. It’s like the backbone on which Investment Banks run.
All you need to do is to choose an appropriate institute which delivers such training and gives placement support.
Only we, at The Wallstreet School openly disclose the Linkedin profiles of our previously placed students who have completed our Financial Modeling Program.
It’s a short term, 6 weeks course which requires a basic knowledge of accounting – Balance Sheet, P&L, and Cash flow Statements.
3. UGC National Educational Test (NET)
The most traditional career choice after M.com is Teaching. And the Universities under the central and state governments necessarily require the applicants to clear the UGC NET exam.
It’s a test of expertise in the field in which the candidate has done the Post graduation. It’s also a pre requisite to pursue PhD at many Universities.
After clearing this exam, candidates may get a job as an assistant professor in commerce department of the respective college in which he/she has applied.
To rise up the ladder in this career stream, it is recommended to have a PhD down the line to get promoted and stabilize your job.
4. Other Certification courses such as CFA, CPA, ACCA or FRM
OKAY, so you might not be satisfied with your Masters Degree, since it won’t give you an international opportunities.
Driven by these thoughts, many people take up such certifications which increase the international Employability after M.com.
Although these certifications won’t directly help you get a job, they are certainly preferred on resume by recruiters in certain profiles.
If you’re interested in making an international career in Equity Research, Valuations or Portfolio Management, then CFA is a right choice for you.
If you want to take up a job in risk analysis at Commercial Banks or Insurance companies, then FRM can give your career a thrust.
To tap international job opportunities in Accounting, then you can opt for ACCA or CPA.
If your aim is to get a job immediately, then go for Choice 2 or 3. If you can afford to wait few more years before you make a penny, you can go with choice 1 or 4.
Employers : Investment Banks and Consulting firms such as Goldman Sachs, JP Morgan, Crisil, HSBC, Deloitte, Evalueserve etc.
Best institutes to prepare for CFA: The Wallstreet School (Official Prep Provider), Fintree, Sanjay Saraf etc.
Salaries : For fresher CA’s with a CFA Charter, salaries tend to average anything between 8 and 12 lakh.
LLB (Bachelors of Law) – Take up the legal suits yourself
These days, CAs have developed their craze towards law. The reason is pretty obvious .
You can have better hold over legal language and edge over other Chartered Accountants in matter drafting appeals or presenting cases before authorities.
Entrance Exams: Common Law Admission Test (CLAT), AILET – All India Law Entrance Test, LSAT – Law School Admission Test etc.
Best law colleges : National Law School of India University (Bangalore) and NALSAR University of Law(Hyderabad)
Salaries : Campus recruitment salaries at prestigious law colleges start as high as Rs 35,000 to Rs 40,000 per month.
Profiles : You can take up cases on Civil Law, Corporate Law, Labour Law, International Law, Family Law, Constitutional Law, Patent Law etc.
FRM (Financial Risk Manager) – Analyze the Risk
FRM is globally recognized designation issued by Global Association of Risk Professionals .
During your CA journey, you might have sometimes calculated the Risk associated with a particular portfolio in the subject of Financial Management.
If you’re fascinated by that, you can opt for this course. It’s drafted on similar lines.
Exam: You need to clear both levels of FRM. The examination is conducted in November and May.
Employers : ICBC, Bank of China, Citi, KPMG, Deloitte, E&Y, Deutsche Bank etc.
Salaries : For fresher CA’s with a FRM, average salary is around 7-8 lakh.
Profiles : Risk Manager or Credit Manager in Banking sector, Insurance sector or Consulting firms.
CS (Company Secretary) – Become a Corporate Lawyer
We have seen many Chartered accountants pursuing CS along with, or after they qualify CA finals. Many subjects of these two courses are overlapping and hence getting 2 degrees from same knowledge is a useful proposition.
Chartered Accountants usually pursue CS to get a strong hold in Corporate law, along with their core domains – Audit and Taxation.
Exam : To get the CS Degree, you need to clear the three levels of examinations – Foundation, Executive and Professional. If you’re a CA, then you will get direct admission in CS-Executive.
Profiles : A combination of these two degrees would boost up the chances of getting a Job as a Legal Adviser to MNCs for matters related Taxation, Audit and Accounting.
Salaries : Average Salary of a Company Secretary rangers between 6 to 7 Lakh
CPA (Certified Public Accountant) – Setup your International Practice
CPA is the American version of Chartered Accountancy. The CPA degree is given by American Institute of Certified Public Accountants, and it is mandatory to have this degree in order to practice as a Public Accountant in US.
Profiles : A Chartered Accountant with a CPA degree can work in a wide variety of areas like Assurance services, Forensic Accounting, Tax and Financial Planning, International Accounting, Internal and External auditing etc
Salaries : Average Salary of a CPA is between 6 to 7 Lakh in India.
Employment opportunities : If you’re looking for opportunities to setup your practice in US or to get a job in Indian MNCs for the profiles mentioned above, then CPA is a good option after Chartered Accountancy.
Don’t just blindly follow people’s advice to pursue CPA, CS, CMA, etc. Every person is special, has different abilities and therefore, what suits to others may not suit them.
It totally depends on what profile you are interested in and what work you want to do for the rest of your life. Trust your instincts.
Frequently Asked Questions (FAQs)
Which is the best course after CA?
It depends upon your interest. If you want to get into core finance, then CFA is the best option. If you want to stay in accounting, then you can go for CPA or ACCA.
How to become an Investment Banker after CA?
You need to master the skills of Financial Modeling and Valuations. Thereafter, you can start applying to investment banks
Which course to do after CA to get a high salary?
Usually, the highest rewarding career in Finance domain is Investment Banking. Thus, you can pursue CFA to break into this field.
If you’re looking for Courses and Career options after B.Com, then most probably you’re in the final year of your graduation or you’ve completed it.
We all have a dilemma about the career choices at some point during our graduation. Keeping that in mind, I have tried to make this article as comprehensive as possible.
It’s not just another blog which simply lists down the courses after B.com. Rather, it’s a whole analysis of each course – Who should do it and Why should you do it?
Making an appropriate career choice after B.Com is a BIG Deal. Even a slightest mistake at this point of your career can land you into distress.
To help you decide about the career path, this article lists out different career option with relevant details such as Salaries, Job profiles, Cost and Time Duration of the course.
Job Oriented Certifications
Most of the times when we’re looking for career options, we’re actually interested in the Jobs that we would get if we choose that option. Thus, we will first look at the short term certifications which can fetch you a decent Job even before your Masters, given that you work hard.
Investment Banking Certification
This is the most elite Job profile that you can get just after B.com. It’s related to core finance and not accounts, audit or taxation. If you’ve ever been fascinated by the companies such as Goldman Sachs, JP morgan or HSBC, then let me tell you, this is the most desired profile that they offer.
Duration – 1 to 2 Months
Estimated Cost – Rs. 50,000
Job profiles – Equity research, Business Valuation, Financial modeling
Employers – HSBC, EY, KPMG, Mcube, JP Morgan, CRISIL, Moody’s and thousands of boutique investment banking firms.
Average Salary – It depends upon your previous work experience, academic background and negotiation skills. Generally, B.com freshers get Rs. 3 to 6 lakh per annum.
Best Institute to pursue this course – Honestly speaking, the main criteria for choosing the best in this industry should be ‘Transparency’ of placements. No other institution except The Wallstreet School reveals the past placements. We’ve revealed the real Linkedin and facebook accounts of around 1,000 previously placed candidates, who have solidified their base in Investment Banking domain on our Placement section. You can do your R&D and get back to us, if you’re interested in this course.
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This is another trending certification that commerce graduates can pursue without any technical skillset as pre-requisite. If you’re fascinated by the terms such as SEO, SMM, SEM or PPC, then you must be knowing by now that they all come under the umbrella of Digital marketing.
Duration – 3 to 4 Months
Estimated Cost – Rs. 50,000
Job profiles – This is the most interesting part pertaining to Digital marketing industry. You work with clients to increase their sales using Social media, Search engines and a bunch of analytical tools
Employers – Each and every B2C business that sells products or services online.
Average Salary – For a fresh commerce graduate, the salary ranges between 2 to 4 Lakhs.
Best Institute to pursue this course – You will find a ton of content over the web to learn Digital Marketing. But I would suggest you to not to go to any particular institute. Rather, you can follow some super knowledgeable Channels such as – Neil Patel, Ankur Aggarwal and Intellectual Indies.
Data Science Certification
Any and every useful result on earth has been derived from Data. For a simple example, Google Maps gives us the real traffic conditions based upon the data that it collects from the GPS activity of the people around. Netflix or Youtube gives us the recommended videos based upon our past behavior, which is based on Data. If you’re fascinated by How they drive such results, then you can go for this certification.
Duration – 3 to 4 Months
Estimated Cost – 1 to 3 Lakh
Job profiles – Business Analyst, Data Analyst, Business Intelligence Analyst
Employers – All Major KPO’s, EXL Analytics, Moody’s Analytics, EY, KPMG, PWC etc.
Average Salary – 3 to 4 Lakh for a commerce graduate without prior work experience.
Best Institute to pursue this course – You can enroll for courses on Udacity or coursera (Trust me, they are best in terms of knowledge). However, if you’re seeking placements, you can go for Great Learning, Edureka, Jigsaw Academy etc.
The Courses under this subhead will give you a Tag (CA,CFA,FRM) which you can use to deliver professional services independently, or as an employee.
Chartered Accountancy (CA)
Each and every finance graduate in India must have tried pursuing CA, or has a friend who is doing CA. The essence is that there are a large number of candidates appearing for such exam, but the pass percentage is really low. If you’re fascinated about analyzing Financial Statements of a company, you can go for this course.
Duration – After Clearing CPT (Entrance), you can give IPCC (Intermediate) after atleast 1 year. Thereafter, you need to go through articleship under a practicing CA for 2.5 years. Finally you can give CA Final examination. Thus, Minimum Duration is 3.5 years.
Estimated Cost – 4,00,000
Job profiles – Audit, Taxation and Due Diligence
Average Salary – 7 to 8 Lakhs
Chartered Financial Analyst (CFA)
It’s the most sought after degree for those who want to make an International career in core Finance. By core Finance, I don’t mean Audit, Taxation or Accounting. It refers to elite profiles that I’ve mentioned in Investment Banking Certification above. It adds to your CV and makes it stand out for the employers. Moreover, CFA is a pre-requisite for many finance jobs as well.
Duration – CFA Level I exam is held in june and December. Whereas, CFA Level II and III examinations are held only in June. Thus minimum duration is 1.5 to 2 years, if you clear it in first attempt.
Estimated Cost – Enrollment fees is $450 USD. The fees for each Level of CFA ranges from $700 to $1,450 USD.
Average Salary – Rs 616,736 according to Payscale.
Recruiters – Major recruiters are Investment Banks and Consulting firms such as HSBC, Goldman Sachs, JP Morgan, Deloitte, PWC, EY, KPMG, Evalueserve etc.
Best Institute to prepare for CFA – Trust me, the teaching style and experience of the faculty is the main catch here. You would find many coaching centres . The Wallstreet School is an Official CFA prep provider of the CFA institute. People with absolutely zero or negligible knowledge of finance find our CFA training as a major savior for them
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Financial Risk Manager is a designation issued by Global association of Risk Professionals (GARP). People with specific interest in Risk Management shall go for this course. Now, the question is – What exactly is Risk Management. Take an example of a Risk Manager of an Insurance company. The Risk Manager would determine whether or not to extend an insurance cover to a particular asset, person or a business or not. He uses various quantitative tools to arrive at the decision.
Duration – You need to clear both FRM Part I and II. The examination is conducted in November and May. So, the minimum duration is 6 Months. Although you can appear for both the Parts one single day, it’s not recommended. Thereafter, the candidate must acquire atleast 2 years of work experience in risk management to get this certification.
Estimated Cost – Enrollment fees is $450 USD. The fees for each Level of CFA ranges from $425 to $550 USD.
Average Salary – It ranges from INR 8,00,000 to 23,00,000 depending upon your position, experience and industry.
Recruiters – Recruiters Include Investment Banks, Commercial Banks, Insurance companies and consulting firms such as HSBC, CITI, Goldman Sachs, JP Morgan, Allianz etc.
This is the most traditional path that most of the commerce graduates will follow. But, there’s a big, big catch here. Your career after Post Graduation totally depends upon the Reputation and Brand name of the Institute from where you’re pursuing it. Also, you need to be sure as ‘why’ you’re doing it. Following are the options –
MBA (Master in Business Administration)
If you ask any B.com graduate in India about their future plans, they would say ‘MBA’. MBA can give you practical expertise in area of General Management, operations, Finance or marketing. However, almost 3,00,000 candidates appear for MBA entrances every year, out of which 4,000 to 5,000 candidates get admission in top 30 colleges.
Duration – 2 years
Estimated Cost – 15 to 25 Lakh
Job profiles – It totally depends upon which field have you mastered in – Finance, Marketing, Human Resource or Operations. Also, if your college has a big brand value, you may get a job in core profiles of your domain, otherwise you may end up getting backend or a BPO job.
Major Entrance Exams – CAT, GMAT, XAT, SNAP, MICAT, IIFT
Average Salary – Again, It totally depends upon the reputation of the college from where you’re doing MBA. However, according to Payscale, average salary after an MBA degree in India is Rs. 6,99,000.
Best colleges to pursue MBA – Top seven IIMs, XLRI, SPJIMR, MDI Gurgaon, SIBM Pune, Indian School of Business (ISB)
M.com (Master of Commerce)
Although not preferred by many, but people keep this as a backup option. But in real sense, it should be done if you’re interested in Academia, University teaching or research. It’s an extended version of B.com. Most of the subjects that you learn have roots in the books that you’ve already studied during Undergrad
Duration – 2 years
Estimated Cost – 50,000
Job profiles – Since there is no value addition in skillset if you pursue M.com, the private job opportunities are almost same as that of a B.com graduate. However, if you clear NET (National Eligibility Test), you can apply for the post of Assistant Professor in commerce colleges.
Average Salary – 3 to 6 Lakhs
Best Colleges – Delhi School of Economics, Shri Ram College of Commerce, Hindu College.
Government Jobs are know to be the most safest and steady. Most of the Indian parents want their kids to get a secured government Job so that they can settle early in life. Let’s have a look at the major options available.
SSC CGL (Combined Graduate Level)
Combined graduate level exam conducted by staff selection commission is the most sought after competitive government exam in India. It’s also considered as a backup option by the students preparing for UPSC, and that’s why it’s also called Mini IAS. SSC CGL is conducted to fill groub ‘b’ and group ‘c’ vacancies in various departments and ministries of central government.
Eligibility – The candidate must have a Bachelor’s degree. Also, there’s a maximum age limit depending upon the type of the designation or post.
Posts and designations– Assistant Section officer, Income tax Inspector, Sub Inspector (CBI), Assistant Audit officer etc
Ministries and Departments – CBDT, Central Bureau of Investigation, CAG, Ministry of Railway, Ministry of external affairs etc.
Salaries – The starting salary ranges from 30,000 to 60,000 depending upon the type of the post or designation you have got.
Union Public service commission conducts this examination to fill in the positions of high repute, power and authority in the central government. Around 1 Million students apply for this examination every year for some odd 800-1000 vacancies.
Eligibility – Eligibility – The candidate must hold a bachelor’s degree from a recognized university. Also, the candidate should be atleast 21 years of age and must not have attained the age of 32 years
Designations – Indian Administrative Services, Indian police Services, Indian Revenue Services, Indian Foreign Services etc.
Ministries and Departments – CBDT, Ministry of Railways, Ministry of External Affairs, Home Ministry, Ministry of Finance etc.
Job Profile – All the reputed government designations such as Commissioner of Income Tax, Commissioner of Poilice, District Magistrate, Cabinet Secretary, Additional Secretary.Salary – Starting Salary depends upon the Post and Designation that you’re working on. Total Salary consists of Basic Pay + DA + HRA + TA + other Allowances. To view the complete list of Salaries for various, Designations, click here.
We really hope that this article added to your research of making an appropriate career choice. Ultimately, it’s YOU who has to make the ultimate decision. All the Best!