Careers in Commerce

Updated on April 3, 2024
Article byWallstreetmojo Team
Edited byAshish Kumar Srivastav
Reviewed byDheeraj Vaidya, CFA, FRM

Careers in Commerce

There are many careers in commerce as opportunities in accounts and finance like bachelor of commerce, business management in finance, accountant, banking sector, Economist (bachelor of economics or mathematics & statistics), stockbroking, company secretary, Actuarial science, certified financial planner, cost and management accountant, and Certified public accountant.

Gone are the days when career choices were limited to Science, Arts, and Commerce. Students now have a plethora of options to choose from. Besides conservative engineering, medicine, and accounting, students can now look up to many diverse fields to make a mark. And no more worrying about what the others might be thinking and how much you will earn.

Societal pressure is a norm, ruining your life by choosing a career that will never give you the satisfaction of achieving a milestone of no use. Every day has to be a thrilling experience and for that to happen to choose something you like is very important. How much will you earn? There is ample money in the world, and your confidence mixed with your ability is a deadly combination that will make you the next Mark Zuckerberg.

So, if Commerce is your calling, don’t buck under the societal pressure and the traditions; get a grip, look out for your passion and do something which beckons you. Commerce is more than B.com, and this is what you need to learn.

List of Top 10 Careers in Commerce

Let us discuss each of them in detail.

Careers in Commerce

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#1 – Banking

Great salaries, job security, and high social acceptance often drive the conventional choice. Still, jobs are secured, and with the spate of new local/national/foreign banks job market is booming for commerce students.

#2 – Investments

Positions for equity research analyst, investment banker, mutual fund executive, capital market manager, asset manager, venture capitalist, and real estate are always open and traded by many.

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#3 – Insurance

A sector which has shown an exponential growth due to the liberalization policy in India. There are enormous opportunities to be exploited to make a great career.

#4 – Capital market

Capitalists have welcomed a Liberalized Indian economy with a great deal of investment and great projects. This has brought about a spurt of opportunities.

#5 – Accounting and Taxation

Opportunities in this field will never diminish, so be thoroughly prepared. The KPO and BPO sector is growing and can meet the demand for talent. Skilled accountants are greeted warmly with open arms in the domestic and international job markets.

#6 – Company Secretary

A Company Secretary (CS) is an important accounting designation in a company. A CS in a company is the mediator between the board of directors, shareholders, government, and other agencies. The CS has the required expertise in legal matters, securities law, capital market, and corporate governance to regulate a company according to the compliance chart.

careers in commerce - CS

source: https://www.icsi.edu/student/

To attain the CS designation, a candidate must complete 18 papers divided into three programs. The Foundation Program has four papers, the Executive Program has six, while the Professional Program comprises ten papers. In addition, a student must undergo 15 months of training after passing the executive or professional program.

#7 –  Cost and Work Accountant  

These professionals are mostly involved in the auditing of the companies and are required to maintain cost accounting records, certify import and export documents under the Exim Policy, and serve as executors, administrators, receivers, and valuer. They are integral to any business house’s working concerning the strategic decisions they help facilitate in respect of the organization’s diverse economic activities.

#8 –  Cost & Management Accountants

This course is a result of the Cost and Works Accountants Act 1959, which regulates the profession of cost and management accountancy. A Cost and Management Accountant (CMAI) is responsible for listing the cost of manufacturing and keeping a book of accounting on it. He is involved in pricing the goods and services produced and verification or certification of taxation, especially concerning indirect taxation.

This career is not a hot-selling cake, but the position is essential to the marketing department. The main job of the cost and management accountant is to prepare quotations for tender responses; the production department requires the person involved to make sound decisions on a good product mix. The purchase department is always at a loss without the cost accountant’s advice for making any decisions regarding buying. They play a crucial role in identifying business risks and their mitigation.

#9 –  Actuary

Actuaries are involved in assessing the financial impact of risk and uncertainty. They assess the financial security systems and regularly monitor their complexity, the mathematics involved in the same, and their mechanisms.  An actuary, in other words, is the caretaker and onlooker of the company, ensuring no mishaps or risks arrive, jeopardizing the harmony of the current working conditions in the company. They use mathematics to evaluate the probability of events to ensure stability and minimization of financial losses associated with an event that is not only uncertain but undesirable. Events such as death and accidents are unpredictable, and the risks involved in such cases are immense. Yet, the less possible impact on the balance sheet of the company needs to be ensured, and this is primarily the job of an actuary.

The pre-requisite qualities to become an actuary are asset management, liability management, and valuation skills. Analytical skills, business knowledge, and understanding of human behavior are necessary to design and manage programs to assess and control risk.

#10 – Certified Financial Planner

CFP or Certified Financial Planner is a certificate course for financial planners who are looking to specialize in strategic financial planning or advisory role in the financial services industry. The certificate is conferred by the Certified Financial Planner Board of Standards (CFP Board) in the United States and by its affiliated body FPBS in India. CFP is a mark of excellence, recognized and respected worldwide by financial professionals. A career in wealth management is an ideal situation for a CFP. The course trains a professional in the various aspects of personal finance, like tax planning, insurance, and estate planning. A CFP finds employment opportunities in banks, wealth management companies, insurance companies, mutual funds, and other financial intermediaries. CFPs are in demand in India as we need to meet at least 50,000 financial planners, and not even 10% have been met.

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This has been a list of the top 10 careers in Commerce. You may also look at these articles below to enhance your knowledge of different areas in Finance.

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  1. Rachel says

    It was very helpful

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