In India, we follow a rigid form of the education system – dividing it into Science, Commerce and Humanities fields. While most of these fields indirectly complement each other, we are conditioned to believe that only students in the Science field get the most opportunities and lead comfortable lives, which is not true.
If you take up commerce, which is essentially a field which deals with accountancy, money, monetary source, investments, etc, you can have a wonderful ‘comfortable’ career as well. Several of the highest paying jobs in India for commerce students have helped people from the commerce field lead a luxurious and comfortable life for themselves.
The top two things that determine a good job for an individual are job satisfaction and salary. Both of them are related in unique ways. Job satisfaction refers to working conditions like hours, colleague interaction, etc. It is also about whether your skills or talents are being employed in the right direction for the company or not.
Along with the working conditions and skill utilization, job satisfaction is heavily dependent on the salary. If the pay is good, then you are more willing to provide an extra bit of work whole-heartedly as you believe that your skills are being valued properly.
Hence, the combination of both salary and job satisfaction ensures a comfortable life. Commerce students have the benefits of both. There are several highest paying jobs in India for commerce students where one can be satisfied mentally and financially. Clicks to read if you are specifically looking for careers after b.com.
Top Highest Paying Jobs for Commerce Students in India
1. Chartered Accountant
If you are someone from the Commerce field, you are most likely to know about the Chartered Accountancy professional course. The Institute of Chartered Accountants of India or ICAI is a statutory body which designates a person as a chartered accountant after they have gone through a series of examinations and internship. As a CA, they can handle the important accounts of a company and ensure that the finances are properly recorded and calculated.
Taking the role of a Chartered Accountancy is one of the highest paying jobs in India for commerce students and it is a dream of most commerce students to become a CA. As a starting salary, one can expect to get around Rs. 6 to Rs. 7 lakhs per annum as a CA. This value increases when a CA gains more experience. However, the CA exams are said to be one of the toughest and so, many students stay away from it. While preparation requires immense hard work, it does pay off at the end and the fewer the attempts, the better the pay.
2. Investment Banker
As mentioned earlier, students of commerce studies and deal with finances. Hence, they are deemed as individuals who can present the best take on how any company or common person can handle their money or savings. The role of an investment banker is to provide financial advice and recommendations to different companies and firms so that they can optimally make use of their money and reach their financial goals.
It is with the help of investment bankers that most companies develop their long-term and short-term financial plans. On the basis of the experience, an investment banker can get a salary of Rs. 26 lakhs per annum.
3. Chartered Financial Analyst
Chartered Financial Analyst is one of the highest distinctions in the investment management discipline. CFA is one of the highest paying jobs in India for commerce students with an approximate salary of around Rs. 12 lakhs per annum. CFA is globally recognized and a CFA engages in several roles – wealth management, equity and fixed income analysis, credit analysis, etc. If you are a CA, then you can have an advantage in the CFA examinations, since you will be offered several exemptions.
4. Certified Public Accountant
CPA is similar to Chartered Accountancy, but it is conducted by the American Institute of Certified Public Accountants or AICPA. Hence, CPA has a global appeal. A CPA handles taxation, auditing, reporting and accounting processes of certain clients and corporations.You need to have a Business or Accounting degree to get enrolled for the CPA exam and then, you have to pass the exam. A CPA can get around Rs.7-9 lakhs per annum.
An actuary is a very respectable title for professionals. Actuaries are individuals who assess the risks involved in the insurance industry. The risks include property loss, disability or other probable that could impact the company. Since it is mostly in the analytical field, a student of actuary should have a background in Economics, Business Administration, Finance, as well as have a background in Mathematics. An actuary can get a minimum salary of 10-14 lakhs per annum.
6. Cost Accountant
Cost Accountants are people who help in making budgets, managing costs and assets of a company and evaluating performance of a company. They are generally employed by manufacturing firms. They are part of an executive team and help in building the financial plan for the company and reports for stakeholders and tax authorities. The salary of a fresher in Cost Accountant is around Rs. 4 lakhs per annum.
7. Professional Accountants
Apart from Chartered Accountants, commerce students can take up the field of Professional Accountants. Professional accountants help with the accounting, taxation and with compliance and reports. They should have a working knowledge of accounting software like SAP, Tally and advanced Excel. The salary is approximately set at Rs. 6-7 lakhs per annum.
8. Retail Manager
Retail Managers help in the management of supermarkets as per the terms of the business. They may require a degree in Retail Management. Retail managers must have an awareness of brand and marketing philosophy and use marketing strategies to persuade a customer to buy something. They may get a salary of about Rs. 5 lakhs per annum.
9. Company Secretary
A Company Secretary plays an important role in the company by ensuring that the company is running as per the statutory and regulatory requirements. They act as the moderator between the stakeholders and the board. A Company Secretary is responsible for making legal filings like tax reports, account information as well as reports of annual earnings. They can expect a hefty salary of Rs. 6-7 lakhs per annum.
10. Personal Financial Advisor
A personal Financial Advisor is a person who helps clients with their financial objectives, retirement savings, pensions, insurance and in management of debts. Financial advisors generally require a degree in Finance, Accounting, Business, Mathematics, Law, etc. They can get an expected salary of around Rs. 5 lakhs per year.
These were some of the highest paying jobs in India for commerce students. There are other diverse jobs that many commerce students can take up. With the right experience and skills, these jobs can also be turned into the highest paying jobs in India for commerce students. Some of them are:
- Financial Examiner
- Sales Manager
- Investment Analysts
- Management Analysts
- Budget Analyst
- Finance Manager
- Accounts and Finance Executive
- Business Consultant
- Risk and Insurance Manager
- Stock Broker
- Relationship Manager
- Corporate Banking Executive
- Credit Control Manager
- Corporate Controller
- Management Consultant
- Treasurer and Finance Officer
It is clear that you need to go through a few courses if you wish to excel in the Commerce field and get one of the highest paying jobs in India for commerce students. Most of the jobs require on-the-job experience and some skills sets to help you grow. At upGrad, we deliver several courses that could enrich your career and help give credence to your skills. Some of the courses in upGrad offers are:
MBA (Executive) with Specialisation in Business Analytics: This course will help you by teaching you how to manage a business. It will examine marketing management, financial accounting and management, risk analysis and HR analytics. The course will also teach you how to use machine language and data science to help you with your analytics. Overall, this is an all-round course which will help you to make your way as a manager across several fields in the Finance Stream.
Product Management Certification Program: The product management program can help you become a product manager or an assistant marketing manager even without an MBA. In the product management certification course, you will be able to build product roadmaps, engage in product analysis and use data science for product marketing and analytics as well.
PG Certification in Digital Marketing and Communication – In today’s world, digital marketing is ruling the marketing scene. With the help of this course, you can dive into the world of digital marketing by understanding the fundamentals of marketing, dissecting the different digital marketing channels and understanding how social media and content marketing works.
PG Program in Management, Specialisation in Sales and Digital Marketing – If you want to be a sales manager and integrate digital marketing channels and tools into your marketing philosophy, then this program is a great way to start. In this course, you will learn about the fundamentals of marketing, different marketing channels, distribution and strategic management, etc.
The commerce field has many areas which any student from the commerce field could explore. However, since most of these jobs require high amounts of skill and immense ability to take on responsibilities, it is essential that a student brings relevant experience in the job. That’s why to get one of the highest paying jobs in India for commerce students, it would be necessary to go through the right channels and go through the right courses. With upGrad, you can take the best courses and fulfil your dreams.