June 6, 2021

The Scope of B.Com Hons in India

When we talk about any evergreen course after completing the 10+2 exam, that is the pathway for a good career with a wide range of options, B.Com Hons is the best option.

Currently, 4.03 million students study B.Com Hons in India, as per a study by the All India Survey of Higher education (AISHE) published by the HRD Minister on September 22 in 2019. So, in 2021, the number remains approximately the same.

Eligibility Criteria

The eligibility criteria for studying B.Com Hons in India are Accountancy, Business Studies, Economics, Maths, and English as main subjects in the 11th and 12th grades. However, different universities and colleges may have specific criteria for admission in their B.Com Hons course.

Many people think that only engineering or medical courses can land a student a good and respectable job. Yes, post-Covid-19, the demand for Computer Science Engineering graduates and doctors has definitely increased.

However, this concept is very old now. BCom Hons course can lead a student to get a wide horizon of career scopes. The top career options after B.Com Hons are discussed below.

Source: BML Munjal University

The Scope of B.Com Hons in India

Chartered Accountant

A Chartered Accountant is one of the most reputed positions in the field of commerce.

The CA manages all the financial matters of a company and the company’s compliance with the state’s revenue service.

The starting package of a Chartered Accountant may start from 7 lakhs per annum but can go up to 20 lakhs per annum or even more depending upon the company he or she is serving.

As of 2019 April, only 2,91,698 Chartered Accountants in India. The requirement is much lower than the number present. So, no doubt, there is a huge job prospect after studying CA.

Cost Accountant

A cost accountant is another important position in any company as he or she maintains accuracy in the costing reports.

Also, it is the responsibility of a cost accountant to maintain the pricing in the company.

The salary package of a cost accountant can be somewhere between 5 lakhs per annum to 16 lakhs per annum.

There are approximately 85,000+ Cost accountants in India, whereas more than lakhs are required. So, there is much scope to have a good career option after B.Com Hons.

Financial Consultant

As the name suggests, a financial consultant offers suggestions and consultations about different companies’ financial requirements.

This can be in terms of investments, selling or buying anything, and any other activities that include financial transactions. A financial consultant can earn between 6LPA to 10LPA.

Finance Manager

A finance manager can be considered as someone who heads a team of financial consultants and executives.

He or she helps in budget planning and other crucial financial decisions. A finance manager can earn a decent package anywhere between 10LPA to 12LPA.

Business Analyst

A business analyst is a new trend, and the responsibility of a business analyst is to analyze the market conditions to offer profitable decisions to the company.

A business analyst is also responsible for budget forecasting. The salary package of a business analyst should range between 6LPA to 12LPA.

Business Consultant

Business consultants take care of several company departments, such as finance, human resource, operations, and others.

They are experts who analyze the company’s weaknesses and warn them about the wrong steps that might lead to losses ahead. A business consultant earns a handsome package of 10LPA to 16LPA.

Tax Consultant

As the name suggests, a tax consultant helps in tax planning and has expertise in tax laws.

A tax consultant can be a part of a company or can also work individually. Usually, a tax consultant also has a decent earning that is somewhere around 5LPA to 8LPA.

Stock Broker

A stockbroker is someone who deals in buying and selling stocks on behalf of their clients. Some brokers might also help by offering suggestions to the clients about the right time to make which transaction.

A stockbroker is a growing professional, and currently, they earn 3.5LPA to 6LPA or more at times depending upon the clients they are handling.

Investment Banker

An investment banker earns the most in this list of professionals after completing B.Com Honours in India.

The responsibility of an investment banker is mainly similar to a salesperson but with dignity.

They deal basically in raising capital for their clients through different options of securities. But apart from this major task, they also take care of many other important financial tasks of the clients.

The income of an investment banker depends highly on the activities that they are doing and the type of clients they have. Usually, it should range somewhere between 1oLPA to 30LPA.

Financial Analyst

A financial analyst works closely with the accounting team of a company. They deal in making financial reports and analyzing the company’s past performance to develop suggestions based on which the financial consultants can make the right decisions for the company.

The salary package of a financial analyst depends a lot on the company in which he or she is working. Depending upon this and other factors, the salary package of a financial analyst should range between 4LPA to 10LPA.

Company Secretariat

The company Secretariat plays a crucial role in any company. They take care of legal aspects, tax, and similar other areas of the company. The average salary package of a Company Secretariat is between 4 LPA to 10 LPA.

Financial Risk Manager

Candidates after pursuing B.Com Hons need to pursue the course of FRM to get a career as a Financial Risk Manager.

These individuals are those who shield the company from potential financial threats and risks. A financial risk manager can earn a package of 10 LPA to 18 LPA.

Digital Marketing

If you do not wish to pursue your career in finance or management, you can surely opt for digital marketing after B.Com Hons.

Today, there is a massive scope open for candidates seeking a career in this field. You can go for different specializations, too, such as SEO, development, and others. The salary package of a digital marketer is somewhere around 5 LPA to 15 LPA.

The Takeaway

If a student is good at Accountancy, Business┬áStudies, Economics, Maths, and English, and if he/she has studied these subjects in his/her 10+2 grade, then they shouldn’t think so much.

If they study their chosen subjects in their higher education, they are high enough to cope with the courses and land a good job. So, study hard and get the dream job after completing the B.Com Hons course in India.

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