What are the different career options available in commerce field apart from CA and CS?
Author: Dev Arora Post Date: 11 Jun 2023
The commerce field gives you a variety of career options, as much as you can explore. However, it depends upon your choice, as each subject in the commerce stream can give you enough options if you are specialized in it. So here I am quoting some options based on the specialization in respective subjects which you can think about and could be different ways of answer to your question:
If you want to explore more in these fields then you can read, What is the best option for further study after B.com completion?
The commerce field gives you a variety of career options, as much as you can explore. However, it depends upon your choice, as each subject in the commerce stream can give you enough options if you are specialized in it. So here I am quoting some options based on the specialization in respective subjects which you can think about and could be different ways of answer to your question:
- Economics:Economics is like a big tree with different branches giving ample opportunities. If you have good analytical skills and have an interest in developing conclusions from different problems then you can make something good in Economics. Honors in Economics from some reputed institution can give you a good start. Companies are offering handsome packages to such candidates. You can even join some government departments or enter into the banking sector. Also, you can go for statistics which is a much-sought branch in Economics and has a lot of demand for candidates having good calculative skills. Those who are looking for administrative services then afterward they can prepare for Indian Statistical Services Examination. Otherwise, corporate has a huge demand for research analysts for such candidates.
- Accountancy:Although CA can give you an exciting position in the field of accountancy if you are not doing it then do not worry. You can become Financial Accountant, Hedge Fund Accountant, Cost Accountant, or Forensic accountant. Also, some of the international courses such as US CPA or ACCA can give you a good start in this field even in the global markets. Also, you can even provide outsourcing services to global companies in the form of KPOs.
- Finance:Even the candidates from non-commerce fields are looking for career in Finance as it can absorb a large workforce and also capital markets are dependent on it. You can look for MBA in Finance, MS Finance, CFA, or FRM. Also, there are some diploma-based courses offered by NSE. Bachelors in Finance can also give a good start to your career. You have a variety of career opportunities as you can work for Investment Banks, financial risk management departments, Venture Capitalists, or for Private Equities. Also, you can become a consultant or Financial Advisor. There are some newly emerged opportunities available in India like you can do courses on Financial Modelling and go into Valuations or Financial Due Diligence fields. It is a tough job, requiring your assumptions and analysis.
- Taxation:You can move towards taxation and it requires more of your knowledge and skills than your educational qualification. In this, you can opt for Indirect Taxes or Direct Taxes. Also, you can do legal courses in this field and become a tax lawyer. Tax consultants can work on their own or are much demanded by corporate. Also, you can appear for government examinations like for Revenue Officers or Income Tax Officers.
- Auditing:Auditing is of various types and can give you various options. You can make a career in statutory audits, tax audits, forensic audits, or Internal Audits. Once you are specialized in it you have other openings too. Statutory audits can acquaint you with Financial structures and you can join these fields. Internal Auditors are specialized as business consultants and you can work in the risk control departments or on the strategy side as a management consultant.
If you want to explore more in these fields then you can read, What is the best option for further study after B.com completion?
Author: Purna Prasad Sharma Post Date: 10 Jun 2023
As a commerce graduate, I feel that I can shed some light on this. There are many opportunities for the commerce stream apart from Chartered Accountancy (CA) and Company Secretary (CS). Some of the opportunities consist of:
1. Business Management: You can pursue your career in business management in a field such as advertising, finance, human resources, operations, or entrepreneurship. You can opt to work in any type of industry as a manager or consultant.
2. Finance and Investment: You can also explore your career in finance and investment banking. A monetary analyst, funding banker, financial planner, risk manager, or portfolio manager in banks, monetary establishments or corporations are a few options under finance and investment, where you can pursue your career.
3. Financial Accounting: Being a licensed public accountant(CPA), you can focus on Financial Accounting. You can set up your accounting firm, can work in a company's finance department, or a finance corporation. Where you work in dealing with financial reporting, auditing and taxation.
4. Economics: Make a career in economics as an economist, financial analyst, or statistics analyst. You can also find opportunities in research establishments, consulting companies, government agencies, or international agencies.
5. Actuarial Science: Being an actuary, you can deal with evaluating risks and maintaining the economic stability of insurance or financial organisations, which includes life insurance, health insurance, pensions, and investments. Work to analyse the financial costs of risk and uncertainty in financial organisations.
6. Financial Planning: Make a career as a monetary planner or advisor. You can guide individuals and organisations to select their budgets, better investment strategies, retirement planning, and wealth management.
7. Banking and Financial Services: You can also pursue your career in the banking sector in different roles, which consist of retail banking, corporate banking, or personal banking. Despite all these, you may also pursue a career in monetary services, which includes insurance, brokerage, or wealth management.
8. Supply Chain Management(SCM): You also can prefer to work in Supply Chain Management as this work is considered a highly paid job. Most of the time people equate this job to logistics management. But logistics Management is a part of SCM. You can work in production industries, retail industries or logistic industries, management includes a systematic flow of goods from purchasing raw materials to delivering finished goods.
9. International Business: After graduation in commerce, one can pursue his/her career in international business, working in international organisations as a business development manager, International product manager, Business analyst etc. As a professional, the job may vary depending on the role and employer. Duties mostly involve adapting the best business practices with professionals according to their countries and culture.
10. Retail Management: We are all very familiar with retail management as we could see such professionals in the mart, Mall, shopping complex etc. Pursuing a career in retail management is also a good idea being a commerce graduate. The duties involve preparing and controlling the store's budget, organising all store operations and allocating responsibilities to personnel to enable customers to find products of their own choice.
These are only a few examples of career options available in the commerce stream. The field of commerce offers opportunities across a wide variety of industries, allowing people to find a professional direction that aligns with their interests and skills.
As a commerce graduate, I feel that I can shed some light on this. There are many opportunities for the commerce stream apart from Chartered Accountancy (CA) and Company Secretary (CS). Some of the opportunities consist of:
1. Business Management: You can pursue your career in business management in a field such as advertising, finance, human resources, operations, or entrepreneurship. You can opt to work in any type of industry as a manager or consultant.
2. Finance and Investment: You can also explore your career in finance and investment banking. A monetary analyst, funding banker, financial planner, risk manager, or portfolio manager in banks, monetary establishments or corporations are a few options under finance and investment, where you can pursue your career.
3. Financial Accounting: Being a licensed public accountant(CPA), you can focus on Financial Accounting. You can set up your accounting firm, can work in a company's finance department, or a finance corporation. Where you work in dealing with financial reporting, auditing and taxation.
4. Economics: Make a career in economics as an economist, financial analyst, or statistics analyst. You can also find opportunities in research establishments, consulting companies, government agencies, or international agencies.
5. Actuarial Science: Being an actuary, you can deal with evaluating risks and maintaining the economic stability of insurance or financial organisations, which includes life insurance, health insurance, pensions, and investments. Work to analyse the financial costs of risk and uncertainty in financial organisations.
6. Financial Planning: Make a career as a monetary planner or advisor. You can guide individuals and organisations to select their budgets, better investment strategies, retirement planning, and wealth management.
7. Banking and Financial Services: You can also pursue your career in the banking sector in different roles, which consist of retail banking, corporate banking, or personal banking. Despite all these, you may also pursue a career in monetary services, which includes insurance, brokerage, or wealth management.
8. Supply Chain Management(SCM): You also can prefer to work in Supply Chain Management as this work is considered a highly paid job. Most of the time people equate this job to logistics management. But logistics Management is a part of SCM. You can work in production industries, retail industries or logistic industries, management includes a systematic flow of goods from purchasing raw materials to delivering finished goods.
9. International Business: After graduation in commerce, one can pursue his/her career in international business, working in international organisations as a business development manager, International product manager, Business analyst etc. As a professional, the job may vary depending on the role and employer. Duties mostly involve adapting the best business practices with professionals according to their countries and culture.
10. Retail Management: We are all very familiar with retail management as we could see such professionals in the mart, Mall, shopping complex etc. Pursuing a career in retail management is also a good idea being a commerce graduate. The duties involve preparing and controlling the store's budget, organising all store operations and allocating responsibilities to personnel to enable customers to find products of their own choice.
These are only a few examples of career options available in the commerce stream. The field of commerce offers opportunities across a wide variety of industries, allowing people to find a professional direction that aligns with their interests and skills.
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