Career opportunities in Commerce

Commerce is one of the three fundamental academic streams, the other two being humanities and science. Commerce is a very popular subject in India these days. Indian economy is growing at a rapid pace and since services sector constitutes the largest chunk of India’s GDP therefore there are ample career opportunities for Commerce graduates. While pursuing a course in the field of commerce, one acquires the knowledge of business or trade, nature and fluctuations in market, basics of economics, fiscal policies, industrial policies etc. The concept of commerce consists of a wide range of interdisciplinary branches including Accountancy, Business Administration, E-Commerce, Finance, Economics and Marketing. Since the Indian economy is one of the fastest growing economies among the third world countries, the need for talented professionals, who can contribute towards the growth of the economy, is increasing. To serve the purpose, many commerce colleges in India are imparting quality education. A commerce aspirant can pursue course related to the field at any of the colleges and work in organizations that deal with finance and commerce.

Course Details

Several commerce colleges and institutes in India are imparting courses in the field of commerce at the undergraduate and postgraduate levels. At the undergraduate level, one can pursue Bachelor of Commerce (B.Com), a three-year full time program and Master of Commerce (M.Com), at the postgraduate level. To be eligible for undergraduate course, the candidates have to pass 10+2 level examination in commerce stream, from any recognized state/national Board. For the PG level program, one should have done Bachelor of Commerce (B.Com), from any statutory University/Institute.

Commerce in the financial sector

In the presents times the Chartered Accountancy qualification is not the only option for commerce students to enter the financial sector. While a CA is still a coveted career, commerce students can also try for jobs as financial analysts, cost and work accountants, bankers, various financial services in banking and non-banking services, tax consultancy, stock broking, financial management and many other related jobs that are being continuously created in this area.

Stocks and Securities; As the Indian stock market goes global this is another area which provides ample opportunities for those with a financial bent of mind, and information management skills, as all trading is now computerized. A degree in Commerce / Economics is required to be eligible for the postgraduate course in Stocks & Securities.

Financial Planning is yet another professional opportunity for commerce graduates and required mainly in the financial services sectors of Banking, Insurance and Investment Advisory Services.

Business Finance is another specialisation in finance, which includes aspects not just of conventional auditing and accounting, but also a vast range of activities like fund raising, foreign exchange, treasury management, investment banking, money market operations and stock broking.

Commerce in the non-financial sector

There are a host of opportunities for commerce students in a multitude of careers in the non-financial sector. The most sought after however, still remains the evergreen MBA. Whatever the area of work, business managers with their specialised knowledge of business and industry, and of financial and economic policy will always be at a premium. Commerce and economics graduates can also join the Civil Services or, in particular, the Indian Economic Service / Indian Statistical Service. The Union Public Service Commission (UPSC) conducts the entrance exam to these services in November every year.

One of the most promising avenues for commerce students is Insurance. With increased business activity and the entry of foreign insurance companies, insurance offers lucrative opportunities for commerce students with appropriate knowledge and training. Universities and private institutes offer graduation in actuarial science and insurance. The Actuarial Society of India conducts a qualifying exam, while some institutes, including Amity University, now also offer training in risk and insurance management

Company Secretary is another area worth looking at, as every company requires to have a Company Secretary who ensures the efficient management of the organization. The Institute of Company Secretaries of India (ICSI), New Delhi conducts training for the course of Company Secretary through postal tuition. It has four regional offices at Kolkata, Delhi, Chennai and Mumbai and several chapters located in various cities. You can join the course after 10+2 with any subject. However, if you are a graduate, you can directly enroll for the intermediate examination.