The times when careers were restricted to science, arts, and commerce have passed. Youngsters now have a wide range of alternatives. In addition to traditional engineering, medicine, and accounting, students can now look to make an impression in a large number of various disciplines.
Although long-standing notion for stream selection in our country has indicated that toppers and academically smart students should migrate towards science. This trend is now changing rapidly. Nowadays, students are proactively aspiring for a business stream, irrespective of their academic qualifications. In this article, you will find the best and profitable career opportunities that Commerce stream provides.
1. Retail Managers
Retail managers are helping to manage supermarket chains according to the aspects of the business. Essentially, a Retail Manager’s task is to operate a retail outlet/store skilfully. They would need a qualification in retail management. Retail managers oversee and handle the daily performance of retail stores, which includes sales, employees, stock and resource management. Retail managers need to be familiar with the philosophy of brands and advertising. They must use smart marketing techniques to convince consumers to buy goods from the retail outlet.
Annual CTC for freshers- Rs 5 Lakhs.
2. Certified Public Accountant
CPA is identical to Chartered Accountants but is regulated, by the American Institute of Certified Public Accountants or AICPA. As a result, the CPA has an international appeal. Applicants wishing to qualify for the CPA must have a graduate degree in Business Administration/Finance/Accounting and have completed 150 hours of learning. All aspirants are required to clear a four-level examination. CPAs execute financial statements audits and provide a broad scope of certification services. It is done to get a 360-degree perspective of the monetary health of organisations. They provide tax and financial assistance to corporations and families for strategy making.
CPAs can hold distinct positions in the community and commercial accounting hierarchy and move up to executive positions such as Chief Financial Officer (CFO).
Annual CTC for freshers- Rs 6.5 Lakhs
3. Chartered Accountant
It is among the most common commerce stream occupations. As a CA, they will tackle the valuable accounting records ensuring that the finances are correctly reported and measured. Holding the position of Chartered Accountant is one of India’s top-paid occupations for business students. It is among the highest income professions for business students. This value rises as the CA has more exposure in the industry. However, CA examinations are known to be one of the hardest, so many students steer clear from it. Although the planning requires considerable dedication, this career path pays off at the end. Lesser the attempts to clear the levels, higher the salary.
Annual CTC for freshers- Rs 6-7 Lakhs.
4. Investment Banker
Investment bankers generally operate in the financial markets guidance role of financial institutions to corporations and government entities. The obligation is to generate capital for investors in the financial sector and to include a range of other financial consulting services. They support corporations in critical and dynamic financial issues, helping them determine the price of various financial instruments. With the assistance of investment bankers, most businesses are developing their long-term and short-term fiscal plans.
On the grounds of expertise, an investment banker can earn a salary of Rs. 26 lakhs per year and is one of the highest income professions for business students.
5. Chartered Financial Analyst
Chartered Financial Analyst is among the highest distinctions in the field of capital management. A CFA plays several roles such as asset management, equity and fixed income evaluation, the credit assessment, etc. To qualify for CFA, aspirants must pass three exam levels covering various areas of study including economics, accounting, financial management, security assessment and ethical standards. Applicants must also have a graduate degree with at least four years of appropriate work expertise. If you are a CA, you may have leverage in the CFA exams because you will be given a few waivers.
Annual CTC for freshers- 10 Lakhs
The actuary is an honourable professional title. Actuaries are people who analyse the risk factors associated with the insurance market. These involve property loss, disability or other plausible challenges that can potentially affect the company. They are threat management professionals who use their mathematical abilities to forecast the likelihood of future and detect their economic effect on their customers and companies in general. Not only is a career at Actuary wide and varied, but it is also immensely beneficial. While many full-time actuaries are employed by investment banks, insurance firms, and other finance companies, Actuaries can also exist independently and act as advisors for several different companies/organizations.
Annual CTC for freshers- Rs 10 to 14 lakh.
7. Cost Accountant
Cost Accountant is among India’s greatest positions in commerce. Profitability evaluation and budget creation are the two primary components of cost accounting. Cost Accountants are finance experts who support a corporation to develop budgets, monitor costs and resources, and assess a company’s results. Usually, manufacturing companies recruit them. Cost Accountants assess the real costs involved with the production and distribution of a product/service to the end-user. They scrutinise all the relevant costs inside the distribution chain for this reason and determine which products/services, procedures, and divisions are the most and least beneficial.
Annual CTC for freshers- Rs 4 lakhs.
8. Professional Accountants
In addition to Chartered Accountants, commerce students can take up Professional Accountants. Accounting, taxation, compliance and reporting are managed by professional accountants. They ought to have a working expertise of bookkeeping application such as SAP, Tally and Advanced Excel. Professional accountants generate and preserve proper books of accounts for companies and businesses. They execute inspections and analyses of the financial statements. Professional accountants can either seek jobs or develop their own practise in an accountancy firm. Professional Accountant Work is another of India’s well-paid commerce professions.
Annual CTC for freshers- Rs 6 to 7 lakh
9. Company Secretary
To ensure the business performs in compliance with the statutory and regulatory criteria, a Company Secretary plays a significant part in an organization. One of the main positions in any business or organisation is a Company Secretary (CS). They act as moderators between the stakeholder groups and the committee. The Secretary is accountable for developing legal filings, such as tax documents, account data and annual income reports. CS is among India’s desired commerce jobs. CS is undeniably a promising program with higher pay after 12th. Aspirants who want to undertake CS is given full coaching by the Institute of Company Secretaries of India (ICSI).
A whopping salary of Rs 6 to 7 lakh per annum can be earned by company secretaries.
10. Personal Financial Advisor
A personal Financial Advisor is an individual who assists customers with their financial goals, retirement accounts, investments, insurance and debt handling. A certificate in finance, accounting, business, mathematics, law, etc. is required by financial advisors.
Annual CTC – Rs 5 lakh.