Wondering how much is the salary of BCom graduates? Then you’ve come to the right place. Commerce is one of the most popular streams among Indian students. That’s primarily because it offers various career prospects with versatile options.
This article will discuss all there is to know about BCom salary for freshers according to different specializations. Moreover, this article will discuss the best paying careers for BCom graduates. Let’s get started.
Salary of BCom Graduates: Based on Specialization Streams
You might be surprised to discover how different your pay can be according to your chosen specialization. In this section, we’ll look at the average salaries of different BCom specializations:
BCom in Accounting and Finance
The average BCom salary with a specialization in Accounting and FInance is INR 4.9 Lakh per year. Wages for such professionals start from INR 1.7 Lakh per year. However, with experience and expertise, the pay can go up to INR 20 Lakh per year. With this specialization, you can pursue accountancy roles in companies. Prominent employers for this role include Tata Consultancy Services (TCS), Accenture, etc.
BCom in Law
BCom with a law degree is becoming increasingly popular among students. It allows you to combine the knowledge of two separate domains and pursue unique roles in organizations.
With a BCom and Law degree, you can get an average salary of INR 4.39 Lakh per annum. That’s not all; beginners in this field get around INR 1.92 Lakh per year. On the other hand, senior-level professionals of this field with much experience and expertise are earning around INR 30 Lakh per annum. This means with necessary effort and persistence, and you can bag a high-paying role easily with this specialization.
BCom in Corporate Law
Another novel and popular specialization among BCom students is corporate law. Corporate law is a branch of law that focuses on companies and laws & regulations pertaining to the same. The average BCom salary with corporate law specialization is INR 5.4 Lakh per annum.
This degree enables you to pursue multiple roles in the legal and finance sectors, including Project manager, Finance Manager, Director Risk Management, etc. With enough experience and expertise, your salary can go up to INR 30 Lakh per annum in this sector.
BCom in Marketing Management
Professionals with a BCom degree with a Marketing & Management specialization earn an average salary of INR 3.57 Lakh per annum. You can pursue many high-paying roles with this degree, such as Management Consultant, Business Development Manager, General Service Manager, and many others.
Marketing is quite a crucial field for any business. That’s why the demand for professionals specializing in Marketing & Management is continually increasing.
You can find job opportunities in Marketing Companies, Financial Services, Advertising Agencies, and many other sectors with this specialization. The upper limit for professionals with a BCom degree in Marketing & Management is INR 20 Lakh per annum.
BCom in Economics
Economics is a popular choice among BCom students as a specialization. As Economics covers many financial topics, it fits perfectly well with BCom’s curriculum. Salary of BCom graduates specializing in Economics earns an average salary of INR 6.3 Lakh per annum.
For freshers, this number is around INR 1.8 lakh per year and can go up to INR 20 Lakh per annum for experienced professionals. Prominent employers for these professionals are IBM India, Ernst & Young (EY), Accenture, HCL Technologies, etc.
BCom in General Business
If you want to learn the ropes of business and its management, then you’d benefit from specializing in General Business. Candidates with BCom in General Business degree earn an average salary of INR 5 Lakh per annum.
Popular roles for this qualification are Associate Auditor, Marketing Consultant, Business Development Associate, Research Analyst, and Assistant Account Manager. This degree allows you to pursue various roles in business, management, and finance.
Must Read: Career Options after B.Com
Highest Paying Jobs for BCom Candidates
You should know which jobs pay the best salaries so you can learn the required skills to pursue them. Knowing about these roles will help you make better-informed career choices. Let’s talk about the roles which offer the best BCom salary in India:
Chartered Accountancy is one of the most popular career choices among BCom students. To become a Chartered Accountant in India, you must complete a series of exams followed by an internship.
The organizer of this field’s exams is the Institute of Chartered Accountants of India or ICAI. The CA exam is one of the toughest exams to crack; however, the rewards are worth the effort in this case.
The average salary of a Chartered Accountant in India is INR 7.87 Lakh per year. Freshers earn around INR 4.1 Lakh per year in this field. However, CAs with more than ten years of experience earn around INR 17.7 Lakh per year. More experience in this field enhances your pay substantially. Your location plays a huge role in determining your pay in this field. For example, CAs in Bangalore earn around 17% more than the national average.
Certified Public Accountant
Certified Public Accountant (CPA in short) is quite similar to Chartered Accountancy. However, its organizer is the American Institute of Certified Public Accountants (AICPA in short). That’s why CPA has a global demand. You must have a bachelor’s degree in Finance / Accounting / Business Administration with a total of 150 hours of education. AICPA holds a four-part exam that you must pass to become a CPA.
CPAs help companies handle auditing, taxation, reporting, and related accounting processes. They provide their clients with understanding their financial health and offer advice to them about improving the same. CPAs have a huge demand as they can get highly lucrative roles in any company’s financial sector.
The average CPA (Certified Public Accountant) salary in India is INR 7 Lakh per year. Freshers with less than one year’s experience earn around INR 6.14 Lakh per year. On the other hand, a Certified Public Accountant with more than ten years of experience earns around INR 15 Lakh per year. Your location can affect your salary substantially as CPAs in Pune earn around 25% more than the industry average.
Also Read: Highest Paying Jobs in Commerce Field
Actuaries help insurance companies in determining whether they should issue an insurance policy or not. They help insurance companies determine the suitable premium for a policy. Actuaries rely on heavy statistical analysis and utilize a lot of data to examine the trends and related costs.
They help insurance companies maintain good financial health by striking a balance between risk exposure and issuing policies. You should be proficient in data science and statistical analysis to become a skilled actuary.
Apart from insurance companies, many financial service companies require actuaries to help them assess investment risks. It is one of the most lucrative sectors for BCom graduates. With a background in Economics, Mathematics, and Business Administration, you can easily enter this field and earn a handsome salary.
The average Actuary salary in India is INR 9.64 Lakh per year. Freshers earn around INR 3.55 Lakh per year, whereas seasoned and experienced professionals in this sector earn around INR 40 Lakh per year. Like all the careers we have discussed in this article, your pay as an actuary depends on several factors, such as your experience, location, expertise, and employer.
Cost Accountants are among the highest-earning professionals in the commerce field. Their primary aims are analyzing profitability and preparing budgets for their client. They are financial experts who help companies create budgets, manage expenses, and evaluate their financial performance. Generally, manufacturing firms require the expertise of cost accountants the most.
Cost accountants figure out the real costs for manufacturing a product and its delivery to the end-user. They scrutinize all the related expenses and find which processes, products, and sections (of the business) generate the least profits. Cost accountants work in teams and build financial plans for their company.
They report to the stakeholders and tax authorities. The average salary for a cost accountant in India is INR 5.66 Lakh per year. The starting salary in this field is INR 2 Lakh per year. On the other hand, as you’ll gain experience, you can earn up to INR 10 Lakh per year.
You might’ve noticed that some of the roles we discussed in this article required additional qualifications apart from a BCom degree. It would be best if you kept the qualifications of a role in mind while making career choices.
For example, you can complete a data science course to pursue a career as an actuary. Similarly, you can pursue a corporate law career by completing a corporate law course after your BCom LLB degree. Such professional courses enhance your chances of bagging well-paying roles and boost your career.
We hope that you found this article on the salary of BCom graduates useful. If you have any questions or suggestions, please let us know through the comments below. We’d love to hear from you.