M.Com is a master’s degree course for commerce graduates offering great career prospects. But, several people are confused or unable to decide what to do after M.Com or what the best career options are after completing this master’s degree course.
Don’t worry; there are numerous career options available that will help students secure well-paying job opportunities in a good company. Students usually opt for M.Com to delve more in-depth into the professional sphere of banking, taxation, finance, and insurance. But, choosing any career path without proper guidance can be a little risky.
For those who are still undecided about the direction to take after M.Com, here are some of the best career options to choose from. You can select any as per your skillset and career objective.
Career Options After M.Com – Job Oriented Courses
1) Chartered Accountant
Also referred to as CA, Chartered Accountant is one of the most preferred courses after M.Com. The role of a CA is to manage all the financial reports created in the business. The course is governed by the ICAI (The Institute of Chartered Accountants of India). This course demands dedicated preparation, but one can opt for this programme even after completing high school.
For becoming a CA, you need to pass three stages: CPT, IPCC, and Finals. After that, you will have to do an articleship of 2.5 years to practice it professionally. Once you become a CA, your average salary will range from 8 to 10 lpa.
2) Become a Certified Public Accountant
CPA stands for Certified Public Accountant and is one of the most prevalent career choices after M.Com. CPA is a worldwide recognised title, and you will be amazed to know that it is the most elevated benchmark of competence in accountancy.
The primary responsibility of a CPA is to support businesses and individuals in planning and attaining their financial goals.
Many people think that CA and CPAs are the same, but that is not the truth. In fact, not all accountants are CPAs, but every CPA is an accountant. They get their designation from the American Institute of CPAs (AICPA). As a CPA, you can earn around 7 lpa.
3) Chartered Financial Analyst (CFA)
The US-based CFA Institute offers this program to provide a Chartered Financial Analyst charter to the qualifiers. There are three levels that the candidates need to pass to become a CFA. This course is 2.5 years long, but it takes around 4 years to complete it on average. This course offers an excellent opportunity for you after M.Com and opens the door to the world of finance and investment.
For registering in this course, you must be either be a graduate with a bachelor’s degree or equivalent or in the final year of graduation. You will also be eligible if you have a total of four years of full-time work experience. The average salary of a CFA is usually around 6 to 7 lpa.
The Chartered Financial Analyst is a globally recognised qualification in the field of finance and investment. If you have recently completed your graduation or are appearing for your final semester, you may be eligible to become a CFA. Interested? We highly recommend checking out our Chartered Financial Analyst (CFA) Course.
4) ACCA Course
If you love accounting and finance, Association of Certified Chartered Accountants (ACCA) can be an excellent option for you. This is a two-year course that is highly valued in MNCs and can increase your salary potential tremendously. ACCA course is recognised worldwide; it has preferential status in more than 55 countries, making it the first choice after completing M.Com.
It is important to remember that one must finish three years in a practical location before being eligible for the ACCA certification. The course period varies as per the student’s qualification; they will have to give fewer exams; hence the time of the course will also lessen.
The minimum eligibility for registration in an ACCA course is 10+2 with at least a 65% aggregate score in Math, Accounts, and English, and 50% in other subjects. The average salary of ACCA ranges from 6 to 15 lpa. The ACCA qualification is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.
5) Cost and Management Accounting (CMA)
The CMA exam is conducted by India’s Institute of Chartered Accountants (ICAI). You need to qualify for three levels of CA for becoming a CMA: Foundation, Intermediate, and Final. Once you pass these levels, you are honoured with a CMA certification.
CMA individuals get expertise in majorly two fields: management accounting and financial management. This helps them gain knowledge in financial planning, control, analysis, and decision support.
CMA is the highest qualification for management accountants; the minimum course duration ranges from 6 to 8 months, depending on the time student dedicates for studies. The average salary of a CMA ranges from 8 to 9 lpa.
6) Company Secretaryship (CS)
This is one of the best career options after M.Com. The role of a CS is to manage the legal compliance and regulatory needs of both public and private sector enterprises. The CS exams are conducted by the Institute of Company Secretaries in India (ICSI) at three levels: Foundation, Executive and Professional.
ICSI is the only recognised platform that renders the CS course. It comprises over 60 000 members. For becoming a CS, the candidates must complete 15 months of practical training. After the training is over, they get ICSI membership and become Associate CS. The salary of a CS is around 5 to 8 lpa.
7) MBA Program
This is one of the most renowned and reputed courses to opt after M.Com. MBA stands for Master of Business Administration. It is a 2-year course where students get specialised and cross-functional proficiency in management.
It is one of the most well-known options amongst the students because it helps them qualify for managerial positions and grow in their careers, which then leads to a satisfactory income. There are various subjects in which the students are trained in this course such as managerial, Human Resources, marketing, sales, accounting and much more. The salary of an MBA is usually around 6.5 to 7.5 lpa.
8) Financial Risk Manager (FRM)
This is one of the best options for you after M.Com if you are looking for a short-term course. FRM is a 9-month course regulated by the Global Association of Risk Professionals (GARP). Once you ace this course, you are provided with a certificate of completion.
In today’s ever-changing financial market, risk management plays a vital role in every business organization.
FRM course delivers students with practical and experiential training, plus it also enhances your soft skills such as interpersonal, communication, and emotional brilliance. It makes them experts in identifying and analysing potential financial threats. The examinations are held twice a year, i.e., in May and November. The salary of FRM ranges from 10 to 15 lpa.
If research interests you, why not opt for Ph.D. after completing M.Com? It is a 3-year Doctorate program in which you can specialize in various subjects such as finance, HRM, statistics, organizational behavior, management, art, science, and many others.
In this programme, students need to prepare a thesis on any topic of their choice, which is created after doing a lot of research and study. You can become a lecturer after finishing your Ph.D. and get highly paid for it. The salary depends on the type of college you opt for, such as private or government, and the experience you bring to the table.
These are several good career choices after M.Com, a few of which may seem more interesting the others considering the career scope. You can select whatever interests you the most, but make sure to weigh your options and read student reviews to make an informed decision. The ACCA qualification is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.To advance your portfolio and build professional skills, try Zell Education’s interactive courses that offer flexible training timings. Get in touch at +91 7208885600 or email us at email@example.com.