Commerce graduates enjoy a real advantage in the job market. Discover the study routes and career paths open to you!
Top colleges: Shri Ram College of Commerce (SRCC) Delhi, Loyola College (Chennai), St Xavier’s College (Kolkata), Presidency College (Chennai), Symbiosis Society’s College of Arts & Commerce (Pune), St. Joseph’s College Bangalore, Narsee Monjee College,BM College of Commerce (Pune) and St. Xavier’s (Mumbai)
Top colleges: Shri Ram College of Commerce (SRCC) Delhi, Loyola College (Chennai), St Xavier’s College (Kolkata), Presidency College (Chennai), Symbiosis Society’s College of Arts & Commerce (Pune), St. Joseph’s College Bangalore, Narsee Monjee College,BM College of Commerce (Pune) and St. Xavier’s (Mumbai)
Eligibility: 10+2 in Commerce,
Our tip: Commerce spans many disciplines, so pick your options with care
Our tip: Commerce spans many disciplines, so pick your options with care
WHAT links steel magnate Lakshmi Mittal, PepsiCo Chairperson Indira Nooyi and Kinetic Motors’s Joint MD Sullaja Firoda Motwani? Beyond being well-known figures, each one is a Commerce graduate.
Their stellar careers were not mapped out during their studies, of course. Still, a Commerce background certainly helped set the stage. It gave them a grounding in how a company’s finances work and in the core financial principles that keep truly successful corporations running smoothly.
Radhika Goel, in her third year at Delhi’s Shri Ram College of Commerce, may well be a future leader. Given her strong commitment and enterprising spirit, she too could one day be groomed to handle a company’s financial reins. “The course is interdisciplinary in nature,” says the BCom (Hons) student.
Saniya Seth, who comes from a business family and is now studying at Sanatan Dharma College in Chandigarh, says, “I wouldn’t like to give control of my company’s finances to any outsider.” That explains her reason for choosing commerce.
BCom essentials Commerce is a core undergraduate academic stream, alongside Science, Arts, Engineering and Medicine. After Class 12, you can take up Bachelor of Commerce (BCom) or Bachelor of Commerce (Hons), both three-year full-time programmes. Commerce covers a broad set of interdisciplinary areas such as accountancy, finance, statistics and e-commerce, among others (See Box).
Radhika studied eight subjects in her first year, then nine and seven in the second and third years respectively. The SRCC student picked Political Science in year two instead of Maths and English. In year three she opted for Marketing and Financial Management and Investment Management over Human Resources and Tax. By now Radhika is well versed in microeconomics, statistics, financial accounting, business communication, business law, corporate law and auditing, among other subjects. In her third year she is learning the theories of financial management and macroeconomics. Most colleges follow a curriculum similar to Radhika’s programme.
Sangeeta Lala, Vice President, Sourcing, at TeamLease Services, notes that many UG colleges are weaving industry-required knowledge into their curriculum. Her reason: “Better placements for students.”
Their stellar careers were not mapped out during their studies, of course. Still, a Commerce background certainly helped set the stage. It gave them a grounding in how a company’s finances work and in the core financial principles that keep truly successful corporations running smoothly.
Radhika Goel, in her third year at Delhi’s Shri Ram College of Commerce, may well be a future leader. Given her strong commitment and enterprising spirit, she too could one day be groomed to handle a company’s financial reins. “The course is interdisciplinary in nature,” says the BCom (Hons) student.
Saniya Seth, who comes from a business family and is now studying at Sanatan Dharma College in Chandigarh, says, “I wouldn’t like to give control of my company’s finances to any outsider.” That explains her reason for choosing commerce.
BCom essentials Commerce is a core undergraduate academic stream, alongside Science, Arts, Engineering and Medicine. After Class 12, you can take up Bachelor of Commerce (BCom) or Bachelor of Commerce (Hons), both three-year full-time programmes. Commerce covers a broad set of interdisciplinary areas such as accountancy, finance, statistics and e-commerce, among others (See Box).
Radhika studied eight subjects in her first year, then nine and seven in the second and third years respectively. The SRCC student picked Political Science in year two instead of Maths and English. In year three she opted for Marketing and Financial Management and Investment Management over Human Resources and Tax. By now Radhika is well versed in microeconomics, statistics, financial accounting, business communication, business law, corporate law and auditing, among other subjects. In her third year she is learning the theories of financial management and macroeconomics. Most colleges follow a curriculum similar to Radhika’s programme.
Sangeeta Lala, Vice President, Sourcing, at TeamLease Services, notes that many UG colleges are weaving industry-required knowledge into their curriculum. Her reason: “Better placements for students.”
Postgraduate level and beyondAfter graduating, you can pursue a Master’s in Commerce (MCom) at any recognised university or institute. The Faculty of Commerce and Business at Delhi School of Economics offers two PG programmes, Master’s in International Business (MIB) and Master’s in Human Resource and Organisational development (MHROD).
You may also take up a Master’s in Finance and Control within Commerce at the Department of Financial Studies, South Campus, University of Delhi.
Both UG and PG programmes are available through distance learning, for instance those offered by the School of Open Learning in Delhi. Other alternatives include a Bachelor’s in Investment and Financial Accounting or Bachelor’s in Business Studies. Some colleges like the St. Francis College for Women, Hyderabad offers a BCom in Foreign Trade.
Commerce students may also enter the Indian Economic Service or Indian Statistical Service. The Union Public Service Commissionconducts the entrance exam to these services in November every year
You may also take up a Master’s in Finance and Control within Commerce at the Department of Financial Studies, South Campus, University of Delhi.
Both UG and PG programmes are available through distance learning, for instance those offered by the School of Open Learning in Delhi. Other alternatives include a Bachelor’s in Investment and Financial Accounting or Bachelor’s in Business Studies. Some colleges like the St. Francis College for Women, Hyderabad offers a BCom in Foreign Trade.
Commerce students may also enter the Indian Economic Service or Indian Statistical Service. The Union Public Service Commissionconducts the entrance exam to these services in November every year
Add-on coursesMany BCom students take up a professional course such as CA, CWA, an MBA in Finance or the CFA alongside their degree, in order to enter highly skilled professions. Saniya is doing the same, and is currently pursuing the Company Secretary (CS) course. She plans to appear for ICWA Intermediate level exams in April 2011. By then she would have given her final year BCom exam and would be entitled to forgo the Foundation Level. “The Inter-level exams are in December,” she informs.
Diploma certificates aimed at medium-skilled jobs are another option. For instance, you can earn certification in the Accounting Technician Course from ICAI. IT-based courses like Tally or Cyber security are good additional qualifications for Commerce graduates.
While working as a finance assistant with ESS ESS India, Saniya completed a three-week course in Business Development and ICT Innovation at the London School of Economics in August 2009. The summer school programme in London cost her Rs 1.75 lakh, inclusive of accommodation and food. It gave her additional exposure in the field. Supplementary knowledge of stock markets, currency trading, commodity training is also helpful.
These diploma and certification courses are offered by institutes as well as by the knowledge divisions of organisations themselves. National Commodities and Derivatives Exchange Ltd, for example, runs NCDEX Commodity Certification Course. National Institute of Securities Markets has a 300-hour certification programme in Financial Engineering and Risk Management with a fee of Rs 1.5 lakhs. “Cyber law and computer courses related to cyber security can also be considered,” says career counselor Jitin Chawla.
Diploma certificates aimed at medium-skilled jobs are another option. For instance, you can earn certification in the Accounting Technician Course from ICAI. IT-based courses like Tally or Cyber security are good additional qualifications for Commerce graduates.
While working as a finance assistant with ESS ESS India, Saniya completed a three-week course in Business Development and ICT Innovation at the London School of Economics in August 2009. The summer school programme in London cost her Rs 1.75 lakh, inclusive of accommodation and food. It gave her additional exposure in the field. Supplementary knowledge of stock markets, currency trading, commodity training is also helpful.
These diploma and certification courses are offered by institutes as well as by the knowledge divisions of organisations themselves. National Commodities and Derivatives Exchange Ltd, for example, runs NCDEX Commodity Certification Course. National Institute of Securities Markets has a 300-hour certification programme in Financial Engineering and Risk Management with a fee of Rs 1.5 lakhs. “Cyber law and computer courses related to cyber security can also be considered,” says career counselor Jitin Chawla.
Career prospectsJob openings can be found in banks, financial institutions, outsourcing firms, insurance companies and audit firms. “A fresh Commerce graduate can start out as account assistant, in CA firm or any other small organisation,” says Jitin.
“CA practices such as TR Chada and Co, Thakur Vaidya Nath Aiyar and Co and Singh Suri and Co take on many BCom students. These firms typically hire graduates for auditing and taxation assignments, accounting and research work,” says Kuldeep Singh, 31, a BCom graduate and practising CA.
Companies also hire fresh BCom students straight from campus. FMCG major HUL invited Saniya to work with their BPO and Radhika has an offer letter from Bain Capability Center, Bain India, a consultancy firm.
“Recruitment has shifted from vertical to horizontal, so a mix of graduates is needed. Commerce graduates gain an edge thanks to the existing curriculum and their exposure to varied subjects,” shares Prof. KV Bhanu Murthy, HOD, Department of Commerce, Delhi School of Economics. He advises, “It is better for students to have a general degree before going into a specialised degree.”
In banking, foreign banks usually favour skilled Commerce graduates. At nationalised banks, a fresh graduate can sit the Probationary Officer exam. Government offices hire candidates with no prior experience at assistant grade. “Demand for graduates is high in the sales and marketing functions of banks and insurers,” says Jitin.
Commerce graduates also take up roles as researchers and teachers. “Eighty percent of management faculty hold an MCom degree,” says Prof. Murthy.
“CA practices such as TR Chada and Co, Thakur Vaidya Nath Aiyar and Co and Singh Suri and Co take on many BCom students. These firms typically hire graduates for auditing and taxation assignments, accounting and research work,” says Kuldeep Singh, 31, a BCom graduate and practising CA.
Companies also hire fresh BCom students straight from campus. FMCG major HUL invited Saniya to work with their BPO and Radhika has an offer letter from Bain Capability Center, Bain India, a consultancy firm.
“Recruitment has shifted from vertical to horizontal, so a mix of graduates is needed. Commerce graduates gain an edge thanks to the existing curriculum and their exposure to varied subjects,” shares Prof. KV Bhanu Murthy, HOD, Department of Commerce, Delhi School of Economics. He advises, “It is better for students to have a general degree before going into a specialised degree.”
In banking, foreign banks usually favour skilled Commerce graduates. At nationalised banks, a fresh graduate can sit the Probationary Officer exam. Government offices hire candidates with no prior experience at assistant grade. “Demand for graduates is high in the sales and marketing functions of banks and insurers,” says Jitin.
Commerce graduates also take up roles as researchers and teachers. “Eighty percent of management faculty hold an MCom degree,” says Prof. Murthy.
Pay and prospectsSalary packages vary with the organisation and the area of specialisation. “The average salary students received this year was 4.25 lakh per annum,” says Dr. CS Sharma, associate professor and placement In-charge at SRCC.
Sangeeta of TeamLease Services says salaries hinge on the nature of the organisation and the type of job. “Even so, it ranges between Rs. 8,000 and Rs.16,000 per month for a fresh hire,” she says. Students with strong communication skills tend to earn more. They make ideal candidates for front-end roles such as customer service, marketing and sales. “The salary can be 20-30 percent higher,” says Jitin.
So if you have a flair for finance and are ready to build further skills, rest assured: as a Commerce student, you will never be short of work!
Sangeeta of TeamLease Services says salaries hinge on the nature of the organisation and the type of job. “Even so, it ranges between Rs. 8,000 and Rs.16,000 per month for a fresh hire,” she says. Students with strong communication skills tend to earn more. They make ideal candidates for front-end roles such as customer service, marketing and sales. “The salary can be 20-30 percent higher,” says Jitin.
So if you have a flair for finance and are ready to build further skills, rest assured: as a Commerce student, you will never be short of work!
0 comments:
Post a Comment