COVID 19 has hit the entire world quite hard, not just in terms of health but also in finance. As companies find it hard to manage finances, many such enterprises are filtering the best candidates while making others leave their positions.
This period has taught a lot many people the importance of having a higher study. Candidates who have a stronger resume with higher studies after completing their graduation have a bit higher chance of surviving better than the others in such situations of crisis.
Many students get disoriented with the thought of what career option to choose after completing BCom. If you are thinking on the same track, this article is absolutely for you.
Here are some of the best career options after BCOM that one can pursue, especially during and after the COVID 19 scenario.
1. Banking:
When you talk about the financial sector, the first career option that comes to mind is banking. A good number of banks prefer to hire freshly graduated students of BCOM for various departments.
During the COVID situation, banks were smoothly running because financial transactions cannot come to a halt. Hence, one of the best career options you can opt for after completing your BCOM is definitely in the banking sector.
There are positions in which you can join the bank after your BCOM degrees, such as retail banking, commercial banking, investment banking, sales and trading, equity research, and others.
Some of the major banks that offer some job opportunities to BCOM graduates in India are ICICI Bank, Kotak Mahindra Bank, Axis Bank, and HDFC Bank. On average, the candidates start up with a salary package of 3.5 to 4 Lakhs Per Annum.
2. Accounting Firms:
Apart from banks, many accounting firms prefer to hire BCOM graduates from good universities during campus recruitment. Suppose you have an interest in accounting and finances.
In that case, you can take up a specialization in accounting while you are pursuing your BCOM. Some of the best accounting firms where many of the candidates wish to join after BCOM are Quatrro, Maxim Liberty, MindSpace, and many others.
Candidates who have graduated from a good university with a degree of BCOM in specializations such as Accounting can apply for transaction advisory positions, valuations, due diligence, and others on some of the top accounting firms.
If you get selected in such positions in the top firms, your salary package should start from somewhere around Rs. 5 Lakhs Per Annum
3. Joining Corporations:
There are also ample opportunities for BCOM graduates in corporations. Not just national but some of the international corporations also may hire the BCOM candidates for various positions depending upon how the interview goes and the candidate’s resume.
Some of the corporations known to hire such candidates are Amazon, SalesForce, Facebook, and many others.
So, what positions will you occupy in such corporations with your BCOM degree?
Some of the eminent positions that the corporations can offer to the graduate candidates with BCOM degree are treasury management, corporate development, investor relations, financial planning, and analysis.
The salary structure of such candidates joining in different positions in such corporations depends on several factors such as the location, skills you have, and many others.
Moreover, the average salary package for these positions is quite decent. More importantly, working in such corporations always allow you to maintain a perfect work balance along with your personal life.
4. Complete M.Com:
M.Com or Masters in Commerce is the very first option that anyone can go for after completing BCom. It is a 2-years program, and it offers you an edge over other candidates who are just a graduate in commerce.
Suppose you are doing it from a good reputed college or university. In that case, it offers you even better opportunities in your future.
The program focuses on commerce and other specializations such as business management, banking and finance, economics, taxation, accounting, and many others.
So, candidates who wish to have a career ahead in accounting, taxation, banking, financial sectors, or the insurance sector can complete this program 2 years after BCOM.
An average individual with the MCOM degree can start their career with a salary package of 3.5 to 4 Lakhs Per Annum. Some of the well-known companies that prefer to hire MCOM candidates for varied positions are Genpact, Tata Consultancy Services, Accenture, Infosys, Ernst & Young, and others.
5. Opt for Higher Degrees:
If you do not wish to go mainstream, the next quite popular option you can go for is that of an MBA or CA.
● Master of Business Administration:
Today, MBA is the most popular option after BCOM if you do not wish to go mainstream after graduation. Though there are ample options available after your BCOM degree is over, a higher study degree such as an MBA can offer you a much stronger resume and better advantage over other students who are just graduates.
You can choose from different specializations such as MBA in marketing, MBA in finance, and others.
For getting admission in MBA, you need to clear the entrance tests such as CAT, MAT, or GMAT for getting into the top B-Schools in India or abroad. If you have work experience of a few years, you can also opt for the executive MBA course.
Suppose you have successfully cracked through the interview of the top companies. In that case, you can successfully start up your career with a salary package of Rs 6 Lakhs Per Annum.
● Chartered Accountancy:
After completing the degree of BCOM, a very common name that comes to mind is Chartered Accountancy. If you have an interest in accounting and are good at it, only you should think of pursuing CA.
It is considered one of the most difficult courses, and candidates have to study day and night to crack through the exams and attain the certifications.
The course is mainly for 3 years, and you can complete it within an extended period of 5 years. Someone who has completed the course and has earned the certification is counted as someone quite reputed among the person’s surroundings due to the course’s toughness.
After you have acquired the certification of CA, you can apply in national and international companies. As per the professionals, the CA’s average salary package should start somewhere from Rs. 8 Lakhs Per Annum or so.
6. Specialized Certification:
If you have already joined somewhere after you have completed your BCOM, that does not mean that your career growth has stopped.
You can always opt for some of the specializes certifications that can offer you career growth. Here are some of the certifications that you can opt for.
● FMVA:
Financial Modeling and Valuation, better known as FMVA, is a certification that you can gain after completing your BCOM degree. The certification is completely focussed on practical terms such as financial valuation.
While some candidates prefer to take up this certification while working somewhere, some prefer to dedicate full time to achieve the certification.
Some of the job positions you can have after gaining this certification are FP&A Analyst, Investment Banking Analyst, and Research Analyst.
● Financial Modeling:
Similar to FMVA, some candidates also go for the certification of Financial Modeling. There are now several online options through which candidates can get a Financial Modeling certification after completing the course.
The candidates learn some serious topics in this course that they have not touched in the BCOM degree. After completing this course of a year or so, the candidates can apply for several corporate corporate positions such as private equity, equity research, investment banking, and corporate development.
7. Take Up Internships:
Many candidates get too much confusion about what they should choose among different career options laid in front of them after completing BCOM.
One of the best ways is to take up internships of 3 months or 6 months in diverse areas to explore the interest zone that the person has.
There are several times when a particular position may look lucrative from outside. Still, later on, you may understand that you are not comfortable in it when you enter it.
Of course, it also depends on the company you have joined and the skills and capabilities you have. But overall, you can understand whether you can have a better career in a particular field or not.
Often completing a few of the internships can help you choose the right job option for you after your BCOM degree.
8. Choosing Something Else:
Nothing is embarrassing to mention if you are not getting comfortable in the job options you are getting after completing your BCOM degree. Some so many people force their kids to pursue degrees in Science and Commerce.
Still, the kids are not very much interested in these subjects. After completion of the degree, they realize that they should also try out something else. If you are having such a thought, there is nothing wrong with it.
Today, there are many career options available that you can take up irrespective of the degrees that you have, such as that coding, digital marketing, and many others.
All you need to do is complete a certification course to get acquainted o the techniques. You can start off your new career option with a happy and comfortable spirit.
9. Join the Teaching Squad:
If everyone starts joining the corporates, who will teach and train the next generations? So, suppose you do not wish to join a job option mentioned in the above options.
In that case, you can always think differently, teaching and training the students who are pursuing BCOM or are in high school.
Some candidates start teaching at an early age, such as immediately after passing out BCOM. Such candidates start with the high school students or join up a tuition center.
Suppose you wish to become a college professor or so. In that case, you need to pursue higher studies such as MCOM or even higher education, depending upon the students whom you will be teaching. You can study and teach at the same time also.
10. Be an Entrepreneur:
Are you someone who does not wish to work for someone else? Then surely you have the qualities of an entrepreneur. If you have the capital to invest and have a set plan of what business you wish to start, you can come up with a good start soon.
Though you can start up with your business even after you have passed BCOM, it is always better to have some professional certifications acquired, such as an MBA. These courses help you learn the business techniques well to learn your business well without messing up with it.
Conclusion:
Bachelors in Commerce of B.Com is the most common degree that many of the students pursue each year. Some candidates are focused on what to do next; others may get confused about what to do after completing B.Com.
Such candidates can choose from a wide range of career options such as joining banks, accounting firms, and corporations as interns of full-time employees.
These candidates can also opt for a teaching career or become entrepreneurs after achieving some professional certifications. One of the most common options that candidates have after completing B.Com today is to get enrolled in higher education, such as that of MCOM, CA, or MBA from reputed universities.