Commerce is one of the most common undergraduate degrees in India. It offers students a broad range of skills and abilities to choose from and has a reputation for being one of the best courses for students who want to go into business. This article will talk about the highest salary jobs for commerce students in India.
List of highest salary jobs for commerce students in India:
1. Chartered Accountant
Chartered Accountant job for commerce students in India is a dream for every commerce student. After you graduate, you can either become an accountant or a chartered accountant. While an accountant can help you with your finances and taxes, a chartered accountant is an expert in handling the finances of a company or business.
To become a chartered accountant, you will have to undergo a course to gain in-depth knowledge of finance, accounting, taxation, and business laws.
Skills Required To Become a Chartered Accountant
- Excellent mathematical skills, including solving complex problems and making accurate calculations.
- Excellent writing skills, including producing clear, concise reports and letters.
- Ability to work in a team and work independently.
- Good interpersonal and communication skills, including effectively presenting information to various audiences.
- Knowledge of financial concepts, including cash flow analysis and income statements.
- Familiarity with various computer software programs, including Microsoft Office Suite (Word, Excel, PowerPoint).
- Experience in providing technical assistance to clients and colleagues.
- Proficiency in using current accounting principles and procedures.
A Chartered Accountant must have a strong understanding of accounting principles and practices and apply these principles to solve business problems. They must also have experience working with computers and be able to use accounting software.
Responsibilities of a Chartered Accountant
The responsibilities of a Chartered Accountant vary depending on the jurisdiction in which they are practicing, but generally include the following:
- Preparing tax returns
- Analyzing financial data
- Preparing and reviewing financial statements
- Providing advice on financial planning and investment
- Coordinating financial planning and investment activities
Salary: ₹6-7 Lakhs per annum
2. Investment Banker
An investment banker is a professional who helps companies raise capital by issuing and selling securities. Working as an investment banker in India is a lucrative and high-paying job.
The job profile involves advising corporate clients on mergers and acquisitions, private equity, and other financial matters and raising capital through initial public offerings. For commerce students seeking job opportunities in India, the job of an investment banker is an exciting career option.
Skills Required To Become an Investment Banker:
- Skills Required To Become an Investment Banker:
- Strong analytical and problem-solving skills
- Proven track record in financial analysis
- Excellent communication and interpersonal skills
- Proven ability to work independently and as part of a team
- Strong financial knowledge
- Experience in investment banking or related fields
To be a successful investment banker, you will need strong analytical and problem-solving skills, as well as experience in financial analysis and forecasting. You will also need excellent communication and interpersonal skills, as investment banking is a highly competitive field.
Responsibilities of an Investment Banker
- Analyze financial data to identify trends and opportunities.
- Develop and recommend investment strategies to clients.
- Negotiate and advise on economic contracts.
- Monitor and analyze company performance.
- Guide financial planning and investment options.
Salary: ₹9-10 Lakhs per annum
3. Chartered Financial Analyst
The Chartered Financial Analyst (CFA) program is an intensive, three-level program for finance professionals that covers the areas of investment, portfolio management, asset allocation, corporate finance, equity research, fixed income, derivatives, and quantitative methods.
The Chartered Financial Analyst (CFA) program is the premier professional credential in investment management. You will use your skills to provide financial analysis and advice to clients to help them make informed decisions. As a Chartered Financial Analyst, you will have the opportunity to work with various clients in various industries.
Skills Required To Become a Chartered Financial Analyst (CFA):
The CFA Institute lists the following skills as required to become a Chartered Financial Analyst (CFA):
- Professional experience in financial analysis and forecasting .
- A strong understanding of financial accounting, finance, and investment concepts.
- Advanced knowledge of business management and its application in finance.
- Understanding of and ability to apply economic theory to financial problems.
- A working knowledge of computer software used in financial analysis.
- Strong communication and interpersonal skills.
- Ability to handle complex issues.
- Ability to analyze and interpret data.
- Ability to perform research.
- Ability to apply analytical thinking to financial problems.
Responsibilities of a Chartered Financial Analyst (CFA):
- Provide advice on financial planning and investment options.
- Analyze financial data to identify trends and opportunities.
- Identify potential risks in the market.
- Identify companies with solid fundamentals.
- Understand the basic concepts of investing.
Salary: ₹12-13 Lakhs per annum
4. Certified Public Accountant
A Certified Public Accountant (CPA) is a professional accountant who has passed a rigorous examination. CPA professionals play a vital role in managing and monitoring financial resources for businesses and governments.
The Certified Public Accountants (CPA) profession is one of the most respected and sought-after career choices for young graduates in India. At present, there are over 200,000 Certified Public Accountants (CPAs) in India, and the number is growing at a fast pace. The profession has attracted so many youngsters because of the large amount of money they can earn.
Skills Required To Become a Certified Public Accountant (CPA)
- Excellent accounting and financial skills.
- Strong mathematical skills.
- Knowledge of auditing and accounting principles.
- Knowledge of accounting software.
- Knowledge of financial reporting.
- Excellent problem-solving skills.
- Good communication and interpersonal skills .
Responsibilities of a Certified Public Accountant (CPA)
- Provide advice on accounting and taxation issues.
- Ensure that transactions are recorded correctly.
- Provide financial statements and other reports.
- Understand accounting principles and regulations.
The CPA will help you understand accounting principles and regulations and help you record transactions correctly. The CPA will also provide financial statements and other reports.
Salary: ₹7-9 Lakhs per annum
An actuary is a professional who deals with the measurement and management of uncertainty involving risk and future events as applied to life insurance and other similar forms of insurance.
An actuary is responsible for the financial planning and analysis of organizations and their assets. They also provide assurance and consulting services to clients in risk and financial planning.
A typical day in the life of an actuary contains working with past data to predict future events using mathematics, statistics, and financial theory. Some of the skills and tools used by the actuary are Mathematics, Economics, Finance, and Risk Management. Actuaries work in the fields of insurance, finance, HR, and government.
Skills Required To Become an Actuary
- Actuaries typically work in insurance, finance, and other risk management sectors and are crucial to minimizing loss and helping companies to realize potential gains.
- Actuaries perform various tasks, and some of their primary duties include measuring risk, pricing financial products, modeling data, and forecasting the financial performance of companies.
- They are in charge of identifying weaknesses in the financial structure and proposing solutions to minimize losses and maximize gains.
- Actuaries are responsible for using their knowledge of mathematics to assess risk, uncertainty, and financial market trends.
- Actuaries work in various industries, including financial services, insurance, and health care.
- The work of an actuary is challenging and requires a high level of education and experience.
- Helping companies to improve their profitability and long-term financial health.
Responsibilities of an Actuary
- Prepare and review actuarial reports and analyses.
- Advice and guide management on actuarial matters.
- Serve as an expert on actuarial principles and practices.
- Perform actuarial calculations and projections.
- Assist in the development and implementation of actuarial policies and procedures.
Salary: ₹10-14 Lakhs per annum
6. Cost Accountant
A cost accountant is an employee who works in the accounting department of a business. His duties include:
- Overseeing the activities of a cost accounting department.
- Managing the department’s assets and budget. Monitoring the performance of cost accounting procedures.
His primary responsibility is to ensure that all records obtained by his department are correct and that all costs are traceable to the departments charged with them.
They are primarily responsible for maintaining the general ledger accounts, analyzing the company’s financial statements, summarizing balances and accounts, budgeting, deviations, and financial statements for the company.
Skills Required To Become a Cost Accountant
- Understanding of Costing and Accounting concepts.
- The ability to work with managers, staff, and client.
- Understanding the financials of a business.
- The ability to work with and interpret financial information.
- Strong verbal and written communication skills.
- Good analytical and mathematical skills.
- The ability to manage and prioritize multiple tasks, projects, and deadlines.
- The ability to manage time effectively.
- The ability to work with numbers, including working with spreadsheet.
Responsibilities of a Cost Accountant:
- Responsible for acquisition, maintenance, management, and reconciliation of cost records used for cost accounting and reporting purposes.
- Participates in the development and review of accounting policies and procedures and the development of cost accounting systems.
- Prepares cost accounting reports based on financial information, such as variance analysis and cost performance reports.
- Prepares financial information to be used in the determination of costs of products, services, or processes.
- Responsible for tracking the cost of goods sold and producing the monthly cost reports.
- Prepares cost analysis and variance reports.
- Prepares and analyzes inventory reports, sales, and purchase invoices.
- Maintains general ledger accounts.
Salary: ₹4-5 Lakhs per annum
7. Professional Accountants
There is a broad scope for professional accountants in India, whether private or public. They can be employed by various companies, banks, institutions, and other organizations. An accountant is responsible for maintaining an organization’s books, preparing financial statements, keeping records of financial transactions, preparing balance sheets and internal audits. He is also responsible for tax filing and other financial matters related to the organization.
Accountants ensure that businesses and individuals comply with taxes and payroll laws. Accountants check and analyze figures and prepare financial statements. They also ensure that companies and individuals pay the appropriate amounts of tax. They verify that all taxes are correctly paid to the government. In addition, accountants organize and manage businesses’ financial records and prepare reports that help businesses owners make critical financial decisions.
Skills Required To Become a Professional Accountants
- Strong mathematical skills, including algebra, trigonometry, and calculus.
- Good problem-solving abilities.
- Strong computer skills, including the ability to use a computer keyboard and software programs.
- Strong writing skills, including the ability to write clearly and concisely.
- Expertise in accounting, taxation, and auditing skills.
Responsibilities of a Professional Accountants
Accountants work closely with the rest of the organization’s management team to ensure that financial statements are prepared in accordance with generally accepted accounting principles. Their primary responsibilities include:
- Provide accounting, auditing, tax, and consulting services for clients.
- Develop, maintain and evaluate internal controls.
- Identify fraud risks, and monitor for fraudulent activities.
- Analyze performance and prepare financial reports.
- Monitor and develop accounting policies.
- Review and process journal entries, account reconciliations, and account statements.
- Prepare tax returns for individual and corporate clients.
- Review and prepare cash flow statements and budgets.
- Train staff and manage staff members.
- Perform accounting, auditing, and tax services for a wide range of clients.
- Ensure that systems and controls are in place to protect assets and data and adhere to laws and regulations.
Salary: ₹5-7 Lakhs per annum
8. Company Secretary
A company secretary is a position in a company responsible for keeping records, managing correspondence, and overseeing the company’s financial affairs.
A company secretary is the backbone of a company as he is the right-hand man of the chairman, managing director, and board of directors. He is a corporate officer, handling all the legal aspects of a business.
He ensures that the company is working as per the rules and regulations of the government. He has to ensure that the company complies with all the legal formalities and maintains the company accounts. To become a company secretary, one must possess a bachelor’s degree or a qualification recognized by the Institute of Company Secretaries of India. Many training institutes provide specific training and coaching for the CS recruitments.
With the rapid growth of the economy and the liberalization of the Indian economy, more and more companies are being established. The need for a CS is more significant than ever before, and there is a high demand for a CS.
Skills Required To Become a Company Secretary
- Must have excellent written and oral communication skills.
- Good communication and interpersonal skills.
- Knowledge of company policies and procedures.
- Knowledge of basic accounting principles.
- Must be able to work in a fast-paced environment.
- Must be detail-oriented.
Responsibilities of a Company Secretary
- The Company Secretary is bound by law to maintain strict confidentiality and independence in executing their duties.
- They are responsible for maintaining the company’s constitution and other governing documents, including the register of shareholders and directors.
- They are responsible for the company’s compliance with its legal obligations and must report to the directors and shareholders on any issues they may be aware of.
- They are also responsible for taking minutes at shareholder and board meetings and generally advising directors on matters of company law and best practice.
- Being the first point of contact for the company’s investors, a company secretary can help to ensure and protect the company’s reputation.
- Some of their primary duties include keeping minutes of meetings, taking care of the company’s records, and dealing with legal matters.
Salary: ₹6-7 Lakhs per annum
9. Personal Financial Advisor
Financial advisors are responsible for working on the financial planning of an individual or a family and the institutions’ portfolios, including financial advice and strategic planning, planning for retirement and estate planning, selecting insurance and investment products, and tax-related planning.
A financial advisor can help you with various financial issues, including budgeting, investing, and debt management. They can also help you create a plan for achieving your financial goals.
Usually, a financial advisor helps in preparing the budget of an individual. Financial advisors help with financial planning, tax reduction, estate planning, retirement planning, and other financial planners, helping to understand investments, insurance, and risk management.
Skills Required To Become a Personal Financial Advisor
- Financial planning and investment skills
- Strong analytical and problem-solving skills
- Proven experience working with clients in a financial advisor capacity
- Thorough knowledge of personal finance topics
- Exceptional communication and customer service skills
- Highly motivated to help people achieve their goals
- Proficiency in Microsoft Office Suite
Responsibilities of a Personal Financial Advisor
- Advise clients on ways to save and invest money
- Help clients make informed financial decisions
- Help clients understand their credit score
- Prepare and review financial statements
- Advise clients on ways to improve their credit scores.
- Recommend products, services, or programs appropriate for the client’s situation.
- Provide counseling and assistance to clients who have financial problems.
- Ensure that clients know available benefits and protections under federal and state law.
- Ensure that clients know all the legal requirements of providing personal financial advice.
Salary: ₹3-5 Lakhs per annum
10. Chief Executive Officer (CEO)
A CEO is in charge of almost all aspects of the company and its day-to-day operations. A CEO is responsible for planning, budgeting, and monitoring the company’s overall performance and supervising the heads of various departments of the company. The CEO of a company is assisted by the Executive Management Team or the Board of Directors.
The CEO is the highest-ranking executive in the company and has the final say in all decisions. The CEO is also responsible for the success of the company and its future plans. The CEO is also responsible for allocating resources in the company and maintaining a healthy relationship with the employees.
Skills Required To Become a Chief Executive Officer (CEO)
- Strong analytical, problem-solving abilities and communication and interpersonal skills.
- The ability to construct a strategic vision and execute the plan.
- Working with the board of directors to set the vision and strategy of the company.
- The ability to create an organizational structure to support the strategy.
- The ability to hire and retain the right people.
- The ability to manage the performance of the organization.
- The ability to reduce time to market and develop products or services that customers want.
- The ability to create a culture of accountability to drive results.
- The ability to create a workplace environment where people are motivated and inspired to do their best work.
Responsibilities of a Chief Executive Officer (CEO)
- Responsible for the overall performance of an organization.
- Directs and manages the organization’s overall goals, strategies, and operations.
- Oversees the organization’s total business activities and products.
- Builds and maintains strategic alliances with other companies.
- Hires, trains, and monitors employees.
- Keeps a check on the company’s budget, finances, and expenditures.
- Makes important decisions related to business operations.
- Has a strict work schedule, which may include long working hours.
Salary: ₹24-30 Lakhs per annum
11. Chartered Secretary
A Chartered Secretary works as an intermediary between various departments of a company and plays a vital role in the company’s functioning. According to the official definition, a Chartered Secretary is “a person registered as a member of a body of professional accountants and administrators known as the Institute of Chartered Secretaries and Administrators [ICSA], the Chartered Institute of Management Accountants [CIMA] or the Chartered Institute of Secretaries and Administrators [CISI].”
Chartered Secretaries play a significant role in the functioning of a company. The core areas of responsibilities include:
- Goodwill and reputation management.
- Communication with customers and investors.
- Providing a coherent vision for the company.
- Representing the company to the outside world.
Skills Required To Become a Chartered Secretary:
- Knowledge of the legislative framework governing the workplace.
- Knowledge of employment law Strong interpersonal skills.
- Excellent organizational and time management skills.
- Strong numeracy skills Good attention to detail.
- Proven ability to apply theoretical concepts to practical situations.
Responsibilities of a Chartered Secretary
- Assists the company in its day-to-day operations and management. This includes advisory, research, managerial, and decision-making roles.
- Concerned with the organization and management of a business, regardless of its size and complexity.
- Provides professional services to the company’s board of directors and senior management team.
- Ensures that all relevant and applicable information is collected, collated, analyzed, interpreted, and used to make informed decisions on the company’s behalf.
- Ensures that the company has adequate systems and processes to manage its affairs effectively.
- Ensures that the company’s internal controls are maintained.
Salary: ₹6-8 Lakhs per annum
12. Tax Consultant
A Tax Consultant is a financial professional who advises and assists taxpayers and taxpayers in preparing and submitting income tax returns and the planning and filing of various tax-saving and tax planning investments.
A Tax Consultant provides a wide range of financial services, including tax planning and preparation, tax consultation and advice, preparation of tax returns, tax and investment research and analysis, preparation of estate and succession tax returns, preparation of gift and estate tax returns, preparation of accounting and auditing work papers, preparation of corporate tax returns, and preparation of financial statements. Tax Consultants are employed by tax preparation firms, accounting firms, law firms, and insurance companies.
Skills Required To Become a Tax Consultant
- The ability to understand and work within tax law.
- The ability to analyze and identify tax loopholes for clients.
- The ability to conduct research for tax law and regulations.
- The ability to communicate complex tax information in a simple manner.
- The ability to build relationships with clients and colleagues.
- Bachelor’s Degree in Accounting, Business, Finance, or related field.
- Experience working with clients and understanding the tax implications of their actions.
Responsibilities of a Tax Consultant
- Ensuring that the taxes of your business comply with the tax law.
- Keeping your company’s taxes as low as possible.
- Provide you with a customized plan for tax savings.
- Ensuring that you are paying only the taxes that are due.
- Finding ways to reduce your tax bill legally.
- Preparing your financial plans and returns.
- Establishing tax-saving structures.
- Saving your business money and time with the proper tax planning.
- Helping you focus on your core business.
Salary: ₹5-8 Lakhs per annum
13. Credit Control Manager
A credit control manager’s job is to ensure that the business has enough cash to operate. He is responsible for collections, creating credit policies and procedures, and keeping track of the company’s debt.
The main job of a credit manager is to maintain reasonable credit control over the customers. The credit manager controls customers’ credit limits to prevent bad debts. The credit-control manager also performs credit analysis and credit scoring.
Skills Required To Become a Credit Control Manager
- Strong analytical and problem-solving skills.
- Proven experience working in credit control or financial organization.
- Knowledge of credit scoring models.
- Strong communication, interpersonal, and problem-solving skills.
- Strong computer skills, including proficiency in Microsoft Office.
Responsibilities of a Credit Control Manager
- Assist in the planning, analysis, and execution of credit control activities.
- Develop and maintain an adequate understanding of customer credit information, payment behavior, and risk exposure.
- Communicate effectively with customers, internal clients, and other members of the credit team.
- Participate in the development and implementation of new products and services Maintain a high level of integrity and confidentiality.
Salary: ₹8-11 Lakhs per annum
14. Investment Analysts
The investment Analyst job in India is very responsible and challenging. Investment Analyst is responsible for scouring through financial reports, investment documents, market analyses, and other data to create investment recommendations and strategies that are helpful to the financial decision-making process. The investment Analyst job is a very dynamic and challenging career. The Investment Analyst is a role that requires a lot of analytical thinking, research, and writing.
Investment Analyst is responsible for gathering information about an investment and analyzing it for their clients. The job of an Investment Analyst is to make investment decisions based on their knowledge of the market and the economy.
Skills Required To Become an Investment Analysts
- Must have a bachelor’s degree in finance or economics.
- Must have strong quantitative skills and the ability to make accurate forecasts.
- Must have a comprehensive understanding of stock market operations, including financial statements, sales, trading, fixed income markets, and derivatives.
- Must know accounting, business practices, and finance principles.
Responsibilities of an Investment Analysts
- Research companies and industries as per investment purpose.
- Conduct financial analysis and modeling to assess the financial health and success of the firm.
- Understand the competitive environment, trends, and risks.
- Recommend investment strategies based on financial analysis.
- Analyze market conditions and assist with operational decisions.
- Compile and report financial results.
Salary: ₹6-8 Lakhs per annum
15. Budget Analyst
A Budget Analyst conducts and analyzes budget and expenditure requirements from the business and its units. They are responsible for updating and maintaining a budget cost estimate for the upcoming year and providing information to senior management about the business’s financial condition.
Skills Required To Become a Budget Analyst
- Ability to analyze financial statements and other company data to recommend buying, selling, or holding stocks, bonds, or other investment vehicles.
- Proficiency in accounting, algebra, economics, and finance.
- Ability to communicate with clients and other investors.
- Interested in the financial markets and the financial services sector.
- Enjoy writing and reading about financial services.
- Desire to work in a challenging and rewarding position.
Responsibilities of a Budget Analyst
- Analyze budget reports and track progress toward established goals.
- Gather and interpret data to identify trends and forecast future costs and revenues.
- Prepare recommendations and proposals for reducing costs and increasing revenues.
- Analyze costs and revenues and make recommendations for actions that will achieve financial goals.
- Directly supervise staff and provide guidance, coaching, and mentoring.
Video Credit: Him-eesh Madaan
1. Which field is best after 12th Commerce?
Commerce is a lucrative career with various professions such as marketing, finance, trading, etc. You can join colleges in India that offer degree programs and earn a post-graduate degree in Commerce. With more than 500 undergraduate programs available at Indian colleges and universities, you can choose from a wide range of courses that will make you ready for all those high-paying professions.
2. Is B. Com good for the future?
Answer: Bachelors of Commerce (B. Com.) is an undergraduate degree in business. It is one of the most common business degrees. It is often taken by students who intend to pursue careers in management or other fields that require a strong foundation in accounting, economics, finance, law, marketing, management, and general business practices. In a B. Com. program, a student may complete courses in business administration, accounting, economics, finance, mathematics, marketing, management, or any other related subject.
3. How can I get a good salary after B. Com?
Many factors need to be taken into consideration when choosing the right career. An essential factor to be considered is the job title. Choose a position that aligns with your interests and strengths. If you want to work in a particular field, seek employment in an area directly related to that field.
4. Can I go for BCA or BBA after Class 12th with Commerce?
If you want to pursue BCA or BBA but are a commerce student, you can do so. However, you will need some additional credits for that. You would need to do a 10+2 major in Commerce and take a 4 year BBA/BCA course. The good thing is that you are already a commerce student and can keep the commerce stream as a backup. You will not lose much if you fail to qualify for the entrance exams and get into BBA/BCA programs. This way, you can enjoy the best of both worlds without putting yourself at any risk.