Best Career Options in Commerce In 2023
- Naief Khatri
- Updated Date : September 28, 2023
In today’s dynamic and interconnected global economy, a career in commerce offers a multitude of exciting opportunities for individuals seeking a path that combines financial acumen, business expertise, and analytical skills. Commerce, as a field of study and profession, encompasses a wide range of sectors and roles that revolve around the exchange of goods, services, and financial resources.
Whether you are intrigued by the intricate world of finance, fascinated by the complexities of international trade, or passionate about helping businesses thrive, the field of commerce has something to offer everyone.
This diverse field not only provides the chance to make a meaningful impact on the world of business but also offers the potential for personal and professional growth. In this discussion, we will explore various career options within commerce, shedding light on the many avenues available to those who aspire to excel in this dynamic and ever-evolving field.
Commerce is a broad field that encompasses many different career options. Commerce students learn about accounting, finance, economics, and business management. These skills are in high demand in a variety of industries, including banking, finance, accounting, consulting, and retail.
Some of the most popular career options in commerce include:
- Accountant:Â Accountants prepare and maintain financial records for businesses and individuals. They also provide financial advice and help to prepare tax returns.
- Auditor:Â Auditors examine financial records to ensure that they are accurate and compliant with all applicable laws and regulations.
- Financial analyst:Â Financial analysts research and analyze financial data to identify investment opportunities and assess the financial performance of businesses.
- Investment banker:Â Investment bankers help businesses raise capital and advise them on mergers and acquisitions.
- Management consultant:Â Management consultants help businesses to improve their performance and solve problems.
- Retail manager:Â Retail managers oversee the operations of retail stores and are responsible for sales, marketing, and customer service.
In addition to these traditional career options, there are many other opportunities available to commerce students. For example, commerce students can pursue careers in sales, marketing, human resources, and real estate. They can also start their own businesses.
The specific career options available to commerce students will depend on their individual skills and interests. However, with a strong foundation in business and finance, commerce students are well-positioned for success in a variety of fields.
Career in Commerce
Traditional career choices like science, arts, and commerce are no longer the only options for students. Today, there are many diverse fields to choose from, including engineering, medicine, and accounting. Students should not be limited by societal pressure or worry about how much they will earn. The most important thing is to choose a career that they are passionate about and that will give them a sense of satisfaction.
Commerce is a broad field with many different career options. Students who are interested in commerce should not be afraid to explore their options and choose a career that is right for them. There is no need to conform to traditional expectations.
List of Top 10 Careers In Commerce
Here is a list of the top 10 careers in commerce, each offering unique opportunities for individuals with a background in commerce-related fields:
Accountant: Accountants are responsible for managing financial records, preparing tax returns, and providing financial advice to businesses and individuals.
Financial Analyst: Financial analysts evaluate investment opportunities, assess the financial health of companies, and provide recommendations for investment decisions.
Marketing Manager: Marketing managers plan and execute marketing campaigns, analyze market trends, and work to promote products or services effectively.
Management Consultant: Management consultants offer strategic advice to organizations to improve their efficiency, operations, and overall performance.
Investment Banker: Investment bankers help companies raise capital, facilitate mergers and acquisitions, and provide financial advisory services.
Human Resources Manager: HR managers oversee personnel matters, including recruitment, employee relations, and workforce development within organizations.
Supply Chain Manager: Supply chain managers optimize the flow of goods and services from suppliers to consumers, ensuring efficiency and cost-effectiveness.
International Business Specialist: Professionals in this field manage global operations, international trade, and market expansion for businesses in the global marketplace.
Financial Planner: Financial planners assist individuals and families in creating financial plans, managing investments, and achieving long-term financial goals.
Entrepreneur: Entrepreneurs start and manage their businesses, taking on various roles to bring innovative ideas to life and achieve business success.
These careers span a wide range of industries and sectors, offering diverse opportunities for commerce graduates to excel in their chosen fields based on their interests and expertise.
Career Options in Commerce Stream
The field of commerce offers a plethora of career options for individuals who have a strong foundation in business, finance, and economics. Here’s a list of career options within the commerce stream:
Accountant: Accountants are responsible for managing financial records, preparing financial statements, and ensuring compliance with tax regulations. They work in various industries and can become Certified Public Accountants (CPAs) or Chartered Accountants (CAs).
Financial Analyst: Financial analysts assess financial data, analyze market trends, and provide investment recommendations to individuals and organizations. They can specialize in areas such as equity research, fixed income analysis, or portfolio management.
Marketing Manager: Marketing managers develop and execute marketing strategies to promote products or services. They conduct market research, plan advertising campaigns, and manage marketing teams.
Human Resources Manager: HR managers oversee employee recruitment, training, and development. They ensure compliance with labor laws, manage compensation and benefits, and foster a positive workplace culture.
Supply Chain Manager: Supply chain managers optimize the movement of goods from suppliers to consumers. They manage inventory, logistics, and distribution to reduce costs and improve efficiency.
Investment Banker: Investment bankers facilitate financial transactions, such as mergers and acquisitions, and help companies raise capital through stock offerings or bond issuance.
Management Consultant: Management consultants provide expert advice to businesses on various aspects of operations, strategy, and management. They analyze problems, develop solutions, and implement changes to improve efficiency and profitability.
Entrepreneur: Entrepreneurs start and manage their businesses. They identify opportunities, secure funding, and oversee all aspects of business operations.
Financial Planner: Financial planners assist individuals and families in creating financial plans to achieve their goals. They offer advice on investments, retirement planning, and estate planning.
Economist: Economists analyze economic data and trends to provide insights into various economic issues. They work in academia, government agencies, research institutions, and private organizations.
Banker: Bankers work in commercial banks, investment banks, or retail banks, handling financial transactions, managing customer accounts, and providing financial advice.
Auditor: Auditors examine financial statements and internal controls of organizations to ensure accuracy, compliance, and transparency. They can work in public accounting firms or as internal auditors within companies.
International Business Specialist: These professionals focus on global trade and international market expansion. They manage international operations, navigate trade regulations, and assess market opportunities worldwide.
Risk Analyst: Risk analysts assess and manage risks within organizations. They evaluate potential threats, such as financial, operational, or market risks, and develop strategies to mitigate them.
Data Analyst: Data analysts gather and interpret data to provide insights and support decision-making in various fields, including finance, marketing, and operations.
These are just a few of the many career options available in the commerce stream
Career Options in Commerce With Maths
A strong foundation in mathematics can open up a wide range of exciting career opportunities within the field of commerce. Here are some career options in commerce that often require a background in mathematics:
Actuary: Actuaries use mathematical and statistical techniques to assess financial risks for insurance companies, pension funds, and other organizations. They help determine insurance premiums, pension plan contributions, and investment strategies to ensure financial stability.
Data Analyst/Statistician: Data analysts and statisticians utilize mathematical and statistical methods to analyze large datasets, extract meaningful insights, and make data-driven decisions. They are in high demand across various industries, including finance, marketing, and healthcare.
Financial Analyst: Financial analysts assess financial data, create financial models, and use mathematical tools to evaluate investment opportunities, predict market trends, and make informed investment decisions.
Quantitative Analyst (Quant): Quants apply advanced mathematical and statistical models to develop trading strategies for financial institutions. They work on algorithmic trading, risk management, and financial modeling.
Risk Manager: Risk managers assess and manage financial, operational, and market risks within organizations. They use quantitative analysis to identify potential risks and develop strategies to mitigate them.
Market Research Analyst: Market research analysts gather and analyze data to provide insights into consumer behavior and market trends. Mathematical skills are essential for conducting statistical surveys and data analysis.
Operations Research Analyst: Operations research analysts apply mathematical and optimization techniques to solve complex business problems related to logistics, supply chain management, and decision-making.
Econometrician: Econometricians use statistical methods to analyze economic data, build economic models, and test economic theories. They work in academia, research institutions, and government agencies.
Financial Planner: Financial planners use mathematical calculations to help individuals and families create financial plans, including retirement planning, tax optimization, and investment strategies.
Management Consultant: Management consultants often use data analysis and mathematical modeling to solve organizational problems, improve processes, and make strategic recommendations.
Real Estate Analyst: Real estate analysts use mathematical analysis to evaluate property investments, assess market trends, and make recommendations for real estate development and investment strategies.
Credit Analyst: Credit analysts evaluate the creditworthiness of individuals and businesses by analyzing financial data and credit reports. Mathematical skills are crucial for assessing credit risk.
Investment Banking Analyst: Investment banking analysts perform financial modeling and valuation to support mergers and acquisitions, capital raising, and financial advisory services for clients.
Treasury Analyst: Treasury analysts manage an organization’s cash flow, investment portfolios, and financial risk. They use mathematical models to optimize cash management strategies.
Business Intelligence Analyst: Business intelligence analysts use data and mathematical tools to provide insights into business performance, helping organizations make informed decisions.
Career Options in Commerce Without Maths
While mathematics can be a valuable asset in the field of commerce, there are still plenty of rewarding career options for individuals who prefer to pursue commerce without an emphasis on math. Here are some career options in commerce that do not require extensive mathematical skills:
Marketing Manager: Marketing managers create and execute marketing strategies to promote products or services. While market research may involve some data analysis, it does not typically require advanced mathematics.
Human Resources Manager: HR managers focus on personnel matters, including recruitment, training, and employee relations. This role primarily requires strong interpersonal and organizational skills.
Supply Chain Manager: Supply chain managers optimize the movement of goods and services, which involves logistics and operations management but does not require extensive mathematical calculations.
Entrepreneur: Entrepreneurs start and manage their businesses, where the emphasis is on creativity, innovation, and effective business management rather than complex math.
Marketing Specialist: Marketing specialists may work on specific aspects of marketing, such as social media, content creation, or advertising, which do not necessarily involve advanced mathematics.
Public Relations Specialist: Public relations specialists manage an organization’s public image, including media relations and communication strategies, with limited mathematical requirements.
Sales Manager: Sales managers lead sales teams, set sales goals, and develop sales strategies, focusing on sales techniques and customer relationship management rather than math.
Retail Management: Retail managers oversee store operations, inventory management, and customer service, which do not typically require advanced mathematics.
Business Development Manager: Business development managers identify growth opportunities, form partnerships, and expand market reach, relying more on strategic planning than math.
Event Planner: Event planners coordinate and organize events, conferences, and meetings, focusing on logistics, creativity, and attention to detail.
Real Estate Agent: Real estate agents assist clients in buying or selling properties, involving market knowledge and negotiation skills rather than complex mathematics.
Fashion Merchandiser: Fashion merchandisers manage the buying and selling of clothing and accessories, relying on trend analysis and fashion sense more than mathematics.
Content Writer/Copywriter: Content writers and copywriters create written content for websites, marketing materials, and publications, emphasizing language skills and creativity.
Public Policy Analyst: Public policy analysts research and analyze policy issues, helping organizations and government agencies make informed decisions, with minimal mathematical calculations.
Legal Assistant/Paralegal: Legal assistants and paralegals support lawyers by conducting legal research, preparing documents, and assisting with case management, which does not require advanced math.
Best Career In Commerce
“Best” career in commerce is subjective and depends on your individual interests, skills, and career goals. What might be the best career for one person may not be the same for another. However, I can provide you with some highly regarded and potentially lucrative careers in commerce that many individuals find rewarding:
Chartered Accountant (CA) or Certified Public Accountant (CPA): These professionals provide accounting and financial advisory services, including auditing, tax planning, and financial analysis. It’s a well-respected and financially rewarding career.
Financial Analyst: Financial analysts analyze financial data, assess investment opportunities, and provide recommendations to investors and organizations.
Marketing Manager: Marketing managers develop and execute marketing strategies to promote products or services. This career involves creativity and strategic thinking.
Management Consultant: Management consultants help organizations improve their efficiency, operations, and profitability by providing expert advice and solutions to complex business problems.
Investment Banker: Investment bankers assist companies in raising capital, facilitate mergers and acquisitions, and provide financial advisory services.
Human Resources Manager: HR managers oversee personnel matters, including recruitment, training, and workforce development, contributing to a positive workplace culture.
Supply Chain Manager: Supply chain managers optimize the movement of goods and services to enhance efficiency and reduce costs for organizations.
Entrepreneur: Entrepreneurship allows you to start and manage your own business, offering the opportunity for innovation, autonomy, and financial success.
Data Analyst: Data analysts gather and analyze data to provide insights and support decision-making in various fields, including finance, marketing, and operations.
International Business Specialist: Professionals in this field manage global operations, international trade, and market expansion for businesses in the global marketplace.
Actuary: Actuaries assess financial risks for insurance companies, pension funds, and other organizations, ensuring financial stability.
Real Estate Agent: Real estate agents assist clients in buying or selling properties, often earning commissions on successful transactions.
Public Policy Analyst: Public policy analysts research and analyze policy issues, helping organizations and government agencies make informed decisions.
Risk Manager: Risk managers identify and manage risks within organizations, protecting them from potential financial and operational threats.
Financial Planner: Financial planners help individuals and families create financial plans to achieve their goals, including retirement planning, tax optimization, and investment strategies.
Best courses after 12th in commerce
After completing 12th grade in the commerce stream, you have several excellent course options to consider based on your interests and career goals. Here are some of the best courses you can pursue:
Bachelor of Commerce (B.Com): This is a traditional and popular choice. B.Com offers various specializations like General, Accounting, Finance, and Management. It provides a strong foundation in commerce and can lead to a wide range of career opportunities.
Bachelor of Business Administration (BBA): BBA programs focus on business management and administration. They cover subjects like marketing, finance, human resources, and entrepreneurship, preparing you for managerial roles.
Chartered Accountancy (CA): CA is a prestigious and challenging professional course for those interested in accounting, taxation, and finance. It is offered by the Institute of Chartered Accountants of India (ICAI).
Company Secretary (CS): The Company Secretary course, offered by the Institute of Company Secretaries of India (ICSI), prepares students for roles related to corporate governance, compliance, and legal matters in companies.
Cost and Management Accountancy (CMA): CMA courses, offered by the Institute of Cost Accountants of India (ICAI), focus on cost accounting, management accounting, and financial management.
Bachelor of Economics (B.Econ): If you have a keen interest in economics, you can pursue a Bachelor’s degree in Economics, which opens up opportunities in fields like research, policy analysis, and finance.
Bachelor of Business Economics (BBE): BBE programs blend economics and business studies, providing a comprehensive understanding of economic principles and their application in business.
Bachelor of Statistics: If you have a strong interest in mathematics and statistics, this program can lead to careers in data analysis, market research, and actuarial science.
Bachelor of Hotel Management (BHM): For those interested in the hospitality industry, this program covers hotel management, food service, and event planning.
Bachelor of Travel and Tourism Management: This program prepares you for careers in the travel and tourism sector, including roles in travel agencies, hotels, and tour operators.
Bachelor of Event Management: Event management programs focus on organizing and managing various events, including weddings, conferences, and exhibitions.
Bachelor of Retail Management: This program equips you with skills in retail operations, marketing, and merchandising, making you suitable for careers in the retail industry.
Bachelor of Financial Markets (BFM): BFM programs concentrate on financial markets, investments, and trading. They are suitable for those interested in careers in finance and stock markets.
Bachelor of Business Administration in Finance (BBA-Finance): This specialized BBA program focuses specifically on finance and prepares students for roles in financial analysis and investment banking.
Bachelor of Commerce (Honors): Some universities offer B.Com (Hons) programs with specialized subjects and more in-depth study, providing an edge in the job market.
How to Choose the Right Career Options After 12th
Choosing the right career after completing 12th grade is a significant decision that can shape your future. Here are some steps to help you make an informed choice:
Self-Assessment:
- Identify Your Interests: Reflect on what you enjoy doing in your free time and what subjects or activities you are passionate about.
- Assess Your Skills: Evaluate your strengths and weaknesses, including academic, technical, and soft skills.
- Clarify Your Values: Consider your values, such as work-life balance, job security, salary expectations, and ethical considerations.
Research Career Options:
- Explore Career Paths: Research different careers, industries, and professions. Use resources like career websites, books, and conversations with professionals.
- Talk to Professionals: Connect with individuals who are already working in fields of interest. Ask them about their job roles, daily tasks, and the qualifications required.
- Attend Career Fairs: Attend career fairs and exhibitions to learn about various career options and speak with representatives from different industries.
Assess Academic Options:
- Consider Your Educational Background: Your 12th-grade subjects and performance can influence your academic options. Some careers require specific educational paths.
- Explore Degree Programs: Look into the various undergraduate courses and programs available in colleges and universities that align with your career interests.
Set Clear Goals:
- Define Your Short-term and Long-term Goals: Determine what you want to achieve in the next few years and where you see yourself in the long run.
- Create a Career Roadmap: Plan the steps you need to take to reach your career goals, including educational requirements and potential internships or certifications.
Assess Practical Considerations:
- Consider Lifestyle: Think about your desired lifestyle and work-life balance. Some careers may require irregular hours or extensive travel.
- Financial Planning: Evaluate the financial aspects of your career choice, including potential income, job stability, and educational costs.
Seek Guidance:
- Talk to Career Counselors: Consult with career counselors at your school or through private career counseling services. They can provide assessments, guidance, and resources.
- Discuss with Family and Mentors: Seek advice from family members, teachers, and mentors who can offer valuable insights and support.
Gain Practical Experience:
- Internships and Volunteering: Participate in internships, volunteer work, or part-time jobs related to your chosen field to gain real-world experience and insights.
- Job Shadowing: Spend time with professionals in your desired field to observe their daily work and responsibilities.
Consider Further Education:
- Some careers may require additional degrees or certifications beyond the undergraduate level. Research the educational requirements for your chosen field.
Evaluate and Decide:
- Make a List: Create a list of pros and cons for each career option you are considering.
- Trust Your Instincts: Listen to your gut feeling. If a career path resonates with you and aligns with your interests and values, it’s likely a good fit.
Stay Flexible: Keep in mind that career choices can evolve over time. You may need to adapt and change your path as you gain new experiences and insights.
Salary Structure of Jobs After 12th in Commerce
The salary structure of jobs available after completing 12th in the commerce stream can vary significantly based on factors such as the specific job, industry, location, your skills and qualifications, and experience. Here, I’ll provide a general overview of salary ranges for some entry-level jobs that you can pursue after 12th in commerce:
Data Entry Operator:
- Salary Range: ₹1.5 lakh to ₹3.5 lakh per year (approx.)
Office Assistant / Administrative Assistant:
- Salary Range: ₹1.8 lakh to ₹4 lakh per year (approx.)
Customer Service Representative:
- Salary Range: ₹1.8 lakh to ₹3.5 lakh per year (approx.)
Sales Executive / Sales Associate:
- Salary Range: ₹2 lakh to ₹4 lakh per year (approx.)
Retail Store Sales Associate:
- Salary Range: ₹1.5 lakh to ₹3 lakh per year (approx.)
Accounting Clerk / Bookkeeper:
- Salary Range: ₹2 lakh to ₹4 lakh per year (approx.)
Data Analyst (Entry Level):
- Salary Range: ₹2.5 lakh to ₹5 lakh per year (approx.)
Digital Marketing Assistant:
- Salary Range: ₹2 lakh to ₹4 lakh per year (approx.)
Insurance Sales Agent (Life or General Insurance):
- Salary Range: ₹2.5 lakh to ₹5 lakh per year (approx.)
Human Resources Assistant:
- Salary Range: ₹2 lakh to ₹4 lakh per year (approx.)
It’s important to note that these salary ranges are approximate and can vary based on factors such as the city or region where you work, the company or organization you work for, your negotiation skills, and your performance on the job.
Top Commerce Colleges In India
India is home to numerous prestigious colleges and universities that offer excellent commerce programs. Here is a list of some of the top commerce colleges in India, known for their academic excellence, faculty expertise, and reputation:
Shri Ram College of Commerce (SRCC), Delhi: SRCC is renowned for its Bachelor of Commerce (Honours) program and is consistently ranked among the top commerce colleges in India.
Lady Shri Ram College for Women (LSR), Delhi: LSR is highly regarded for its commerce programs and has consistently held a prominent position in national rankings.
Hindu College, Delhi University: Hindu College offers a reputable Bachelor of Commerce (Honours) program and has a strong presence in the field of commerce education.
Hansraj College, Delhi University: Hansraj College is known for its Bachelor of Commerce (Honours) program and has a rich academic tradition.
Delhi College of Arts and Commerce (DCAC), Delhi: DCAC is known for its Bachelor of Commerce (Honours) program and a vibrant campus culture.
Job Prospects for Commerce Students
Here are some job prospects for commerce students in 2023:
Accounting and Finance Roles: Commerce graduates often find opportunities in accounting firms, financial institutions, and corporate finance departments. Job roles may include accountants, financial analysts, auditors, and financial planners.
Banking and Financial Services: Commerce students can pursue careers in retail banking, investment banking, wealth management, and insurance. They may work as bank officers, loan officers, investment analysts, or financial advisors.
Marketing and Sales: Marketing and sales roles are available across various industries. Graduates can work as marketing executives, sales representatives, market research analysts, or brand managers.
Human Resources: HR departments in companies and organizations hire commerce graduates for roles such as HR assistants, recruitment coordinators, and employee relations specialists.
Supply Chain Management: Commerce students with an interest in logistics and operations can explore careers as supply chain managers, logistics coordinators, and procurement specialists.
Management Consulting: Management consultants provide strategic advice to businesses. Commerce graduates can work for consulting firms or as freelance consultants, helping organizations improve efficiency and solve complex problems.
Entrepreneurship: Many commerce students choose to start their businesses or join startups, utilizing their skills in finance, marketing, and management.
Data Analysis and Business Intelligence: The demand for data analysts and business intelligence professionals is growing across industries. Commerce graduates can work with data analytics tools to extract valuable insights for decision-making.
Public Relations and Communications: Graduates can pursue careers in PR agencies, corporate communication departments, or media organizations as PR specialists, communication officers, or content writers.
Economics and Policy Analysis: Commerce students with an interest in economics can work as economic analysts, policy researchers, or economic advisors in government agencies, think tanks, or research institutions.
Event Management: Event management companies hire commerce graduates to organize and manage various events, including conferences, weddings, and exhibitions.
Real Estate and Property Management: Commerce students can enter the real estate industry as real estate agents, property managers, or real estate analysts.
Insurance and Risk Management: Opportunities exist in insurance companies for roles like insurance agents, underwriters, and risk analysts.
Government Jobs: Commerce graduates can appear for various government exams and compete for roles in government agencies, including civil services, banking exams, and tax authorities.
Teaching and Education: Those interested in education can pursue careers as commerce teachers or professors in schools, colleges, or universities.
FAQs
The highest paid jobs in commerce are Actuary, Investment Banker, Budget Analyst, Company Secretary, CEO, Chartered Accountant (CA), Human Resource Manager, Product Manager, and others.
- Chartered Accountant (CA)
- Marketing Manager.
- Investment Banker.
- Human Resource Manager.
A career in commerce can open a wide range of choices for you in various sectors. You can explore fields like Economics, Management, Finance, Statistics, Banking, Stockbroking, Consulting, Investment Banking, Accounting, etc.
, if you are more inclined to the management jobs only, you should go for a BBA degree. On the other hand, if you are more into management, accounts, finance and you want to have a job in the commerce sector, B.Com is the best option for you
The commerce stream offers a wide range of career opportunities, including accounting, finance, business management, investment banking, stockbroking, and taxation. Good Salary: Commerce stream students have excellent job prospects, and they can earn a good salary package
Accordion ConThe average salary of a CA is much higher than an MBAÂ . The average salary of a CA is around INR 8.06 LPA while the salary of a MBA Graduate is around INR 4 L – 5 LPA.tent
After completing 12th commerce, students can pursue courses like BCom, BBA, and BMS. After completing their graduation, students can also pursue post-graduation courses like M.Com, MBA, and CA. Students can also pursue professional courses like CA or CS after completing their graduation.
- Commerce offers a wide range of career options, so students can choose a path that suits their interests and skills.
- Commerce jobs are typically well-paid and offer good opportunities for career advancement.
- Commerce graduates are in high demand in a variety of industries.
Chartered accountants typically make more money than IAS officers. An IAS officer’s salary is usually between 60,000 and 70,000 rupees per month. On the other hand, a CA’s salary can range from 2 to 5 lakhs per month depending on their experience.
Articles Updates:
28/09/2023: Content update, InterlinkingÂ
28/09/2023: Add FAQ and Infographic
