Are you considering a career in Commerce? Traditionally, commerce was defined as the process that facilitates the exchange of goods, services, or something valuable between two parties. However, our nation has evolved far beyond this definition. Today, the field extends beyond the mere exchange of goods; it has become a practice that elevates a country’s standard of living, boosts its global ranking by creating jobs, and producing beneficial products. If you’re interested in the top careers in commerce for 2023, you’ve come to the right place!
From the electronic sale of goods and services to online tax filing, the digitally-driven economy now presents a wide range of opportunities with attractive salaries. Engaging in FAME (Finance, Accountancy, Management, and Economics) within the field of commerce will not only provide you with growth opportunities but also shape a promising career. Here is a list of options to establish a successful career in commerce.
Career in Commerce: Best Careers in Commerce
| Career in Commerce | Average Salary | Courses |
| Chartered Accountant (CA) | ₹6-7 Lakhs per annum | CA course |
| Company Secretary (CS) | ₹3-6 Lakhs per annum | CS Course |
| Marketing Manager | ₹6-7 Lakhs per annum | BBA in Marketing, MBA in Marketing, Masters in Marketing, PG Diploma in Digital Marketing |
| Investment Banker | ₹9-10 Lakhs per annum | BCom/BBA in Finance, Chartered Financial Analyst (CFA) |
| Human Resource Manager | ₹6-7 Lakhs per annum | BBA in HR, MBA in HR |
| Entrepreneur | ₹3-5 Lakhs per annum (vary as per the success of the business) | BBA in Entrepreneurship/MBA in Entrepreneurship |
| Bank PO | ₹8-13 Lakhs per annum | BCom/BBA in Banking or Finance/Qualify Bank exams |
| Chartered Financial Analyst (CFA) | ₹12 Lakhs per annum | BCom/CFA Course |
| Certified Public Accountant (CPA) | ₹7-9 Lakhs per annum | BCom/BBA/Qualify CPA exam |
| Actuary | ₹10-14 Lakhs per annum | BSc Economics, BCom, Qualify actuarial exams |
| Cost Accountant | ₹4 Lakhs per annum | Bachelor in Accounting/CA/Masters in Accounting |
| Business and Taxation Accountant | ₹6-7 Lakhs per annum | BAT Course |
| Retail Manager | ₹5-6 Lakhs per annum | Bachelors/BBA in Retail Management |
| Personal Financial Advisor | ₹3-5 Lakhs per annum | Bachelors in Finance, MBA in Finance |
| Budget Analyst | ₹6.5 to 21 Lakhs per annum | BBA, Bachelor in Finance, Masters in Finance/Budgeting |
Let’s explore these trending commerce careers in further detail:
Chartered Accountant
A widely pursued career path among students, Chartered Accountancy stands as one of the most favored courses for Commerce students. Focusing primarily on handling taxation and accounting matters for organizations and businesses, a career in Commerce through this profession can be exceptionally rewarding. Whether pursuing the CA course in India or abroad, this certification program provides a robust foundation in key areas such as merger and acquisition, ethics and environmental concerns, taxation laws, and auditing. After certification, individuals can seek employment in various major industries, including tax and law advisory firms, IT departments, government organizations, and the banking sector.
Company Secretary
Counted among the best professional courses for students who have completed the 12th grade in the Commerce stream, a Company Secretary is responsible for overseeing the overall administration of a company. Their responsibilities encompass maintaining compliance with company laws, handling governance-related issues, representing the organization in tribunals, and raising funds from financial markets. When contemplating a career in Commerce within this profession, one will find a multitude of opportunities, as numerous industries consistently require well-trained professionals. For a comprehensive understanding of the process, you can refer to our blog on how to become a company secretary.
Investment Banker
The domain of Investment Banking operates within the banking sector and specializes in raising capital for individuals and organizations, alongside providing financial advisory services. It serves as an intermediary connecting investors with security issuers, constituting one of the most intricate financial mechanisms in the market.
Who are Investment Bankers? Investment Bankers are experts in corporate financial analysis. Their primary role involves raising capital to support corporate operations, obtaining funding from capital markets, and structuring acquisitions, mergers, or sales for clients. The allure of Wall Street comes with substantial salaries, but beneath the surface lies a demanding profession that requires a skill set ranging from excellent number-crunching abilities to analytical reasoning. However, this comes at the cost of long and uncertain working hours.
Where can an Investment Banker Work? Prominent institutions like Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan Chase (JPM), Bank of America Merrill Lynch (BAC), and Deutsche Bank are renowned names that hire individuals for positions as Investment Bankers. You can also explore our blog on other types of Investment Banking jobs for a more comprehensive overview.
What Qualifications are Required to Become an Investment Banker? There isn’t a specific, predefined career path for becoming an Investment Banker. However, it is imperative to possess a bachelor’s degree in subjects such as accounting, economics, or commerce, including degrees like BSc in Banking and Finance, MSc in Finance, and a Bachelor’s in Accounting and Investment Banking. Additionally, internships with investment banks or participation in certification programs like the CFA course can greatly enhance one’s prospects in this career. Institutions like the London School of Economics and Political Science, Financial University, and Bocconi University offer programs to pursue such courses.
Bank PO
A Probationary Officer (PO) in a bank holds a significant role with multiple responsibilities. Besides monitoring and evaluating the daily operations of the bank, a bank PO is responsible for handling customer issues, managing loans, and overseeing cash flow. This career path is not limited to those aspiring to kickstart their career in Commerce; individuals from various educational backgrounds can join as a PO, provided they hold a bachelor’s degree. There are numerous entrance exams, such as IBPS PO and SBI PO, through which candidates are selected for this role. To gain advanced knowledge, you can also consider pursuing banking courses after completing your graduation.
Human Resource Manager
As the title suggests, a Human Resource Manager is a pivotal asset to any company, responsible for various tasks aimed at improving the organization. Universities worldwide offer a multitude of courses, from bachelor’s to master’s degrees, that not only impart knowledge in related fields but also equip students with essential skills. Pursuing an MBA in HR further enhances career prospects for those interested in establishing a Commerce career with a specialization in Human Resources.
Entrepreneur
Entrepreneurship is a highly sought-after specialization in Commerce, offering flexibility and substantial intellectual and financial rewards. Starting your own business is an adventure in itself, and a brilliant business idea can pave the way for remarkable success. There’s no specific qualification required to become an entrepreneur, but a solid understanding of business, management, financial management, and budgeting is essential. Pursuing programs like the Entrepreneurship Development Program or earning an MBA in Entrepreneurship can provide the knowledge and skills needed to become a successful entrepreneur.
Stockbroking
Stockbroking is another popular career option in Commerce. Stockbrokers are responsible for buying and selling stocks for clients, often providing advisory services and practicing financial risk management (FRM). To succeed in this field, one needs a strong knowledge base in various Commerce subjects, including economics, accounting, corporate laws, and market indices. Graduates in finance who have pursued an MBA have a competitive edge in starting a career in stockbroking. Additionally, individuals can enroll in courses offered by prestigious institutions like the Bombay Stock Exchange Institute.
Actuarial Science
Actuarial Science primarily involves assessing and finding solutions to financial risks in sectors such as finance and insurance. It utilizes mathematical and statistical models to create policies and analyze and manage potential risks. Graduates pursuing a career in Commerce in this sector can find ample employment opportunities in insurance companies under various roles. They can also work as consultants in both government and private sectors.
Insurance Underwriters
Insurance underwriters assess potential clients’ risk factors, analyze risks associated with insuring individuals and assets, and determine insurance pricing. A bachelor’s degree in fields like accounting, economics, or commerce is typically required, and insurance-related work experience is advantageous. Advancement in this career often involves obtaining certifications through coursework to stay updated on industry developments and technological advancements. Key responsibilities include evaluating insurance applications, assessing policy renewals, serving as liaisons between insurance agents and companies, and determining coverage and premiums within carrier guidelines.
Economist
Economists analyze various aspects of a country’s economic processes, dealing with factors such as inflation, banking, and employment. Their expertise is in demand across government and private organizations due to their insights into economic issues. While a bachelor’s degree in economics can lead to entry-level jobs, a master’s or PhD in economics can open up more advanced career opportunities.
Consultant
Consultants provide expert advice to individuals working in specific fields. This profession requires a set of skills that can be acquired through formal education, on-the-job training, mentoring, and personal learning. Consultants can work independently or with firms, gaining valuable experience that contributes to their skill set and future success.
Tax Policy Analyst
Tax policy analysts are responsible for analyzing and researching government taxation policies and aligning them with organizational policy structures. This role involves modeling tax scenarios and monitoring the impact of government tax initiatives. Required skills include analyzing complex technical information, understanding forecasting and data sources for tax revenue predictions, effective communication, and knowledge of accounting principles. To become a tax analyst, a bachelor’s degree in accounting is necessary, and certifications such as Chartered Accountant (CA) and Certified Public Accountant (CPA) are beneficial. Work experience and further education, like a master’s degree, can enhance career prospects.
Asset Manager
Asset managers are responsible for managing, evaluating, and growing various assets, from physical real estate to intellectual property. They monitor assets, implement strategies, negotiate deals, and advise clients on achieving financial goals. Asset managers can work with a range of investments, from pension funds to hedge funds, and require strong analytical and numerical skills. Typically, a bachelor’s degree in finance, business, or accounting is necessary, and advanced positions may require certifications like Chartered Financial Analyst (CFA) or an MBA in Finance.
Additional Career Options in Commerce for 2023
In addition to the aforementioned popular career profiles in Commerce, here are some other options for individuals who have completed a degree or coursework in the field of Commerce:
- Cost and Work Accountancy
- Certified Information System Auditor (CISA)
- Chartered Public Accountant (CPA)
- Chartered Financial Accountant (CFA)
- Insurance and Risk Manager
- Tax Manager
- Financial Manager
- Portfolio Manager
- Investment Manager
- Export-Import Manager
- Family Business Manager
- Capital Market Employee
- Foreign Trade Manager
- International Business Manager
- Banking and Insurance Manager
- Accounts and Finance Manager
Career in Commerce : Popular Courses in Commerce and their Corresponding Job Profiles
| Courses | Job Profiles |
| BCom | Account Executive, Accountant, Finance Executive, Financial Analyst, Bank Manager |
| BBA or BMS | Sales Executive, HR Executive, Marketing Executive, Business Development Executive, Business Development Associate |
| Company Secretary | Compliance Officer, Advisor, Corporate Planner |
| Chartered Accountancy | Financial Advisor, Advisor, Private Practice |
| BCA | Database Administrator, Information System Manager, Business Analyst, Computer Program, IT Support Executive, Web Designer, Software Developer |
| Cost Accountancy | Financial Analyst, Cost Accountant, Senior Accountant |
| BBA LLB | Lawyer, Government Jobs, Business Consultant |
FAQs
What is commerce, and what careers does it encompass?
- Commerce refers to the exchange of goods, services, or money between individuals or entities. Careers in commerce cover a broad spectrum, including accounting, finance, marketing, economics, and management.
2. What qualifications are typically required for a career in commerce?
- Qualifications vary depending on the specific career path. In general, a bachelor’s degree in commerce-related fields like accounting, finance, or economics is common. Some roles may require additional certifications or advanced degrees.
3. What are the job prospects like for commerce graduates?
- Job prospects in commerce are generally promising. Commerce graduates are in demand across various industries, including banking, finance, corporate sectors, and government agencies.
4. Are there opportunities for specialization within commerce careers?
- Yes, commerce offers numerous opportunities for specialization. For example, you can specialize in finance, marketing, human resources, taxation, or international business, among others.
5. What is the earning potential in commerce careers?
- Earning potential varies based on factors such as education, experience, location, and industry. Careers in finance and accounting often offer competitive salaries.
6. Are there any prerequisites for pursuing a Chartered Accountancy (CA) or Company Secretary (CS) course?
- Prerequisites may vary by country and institution. Typically, a bachelor’s degree in commerce is required for CA and CS courses. Some courses may have specific subject requirements.
7. What is the difference between finance and accounting careers?
- Finance professionals focus on managing financial resources, investments, and planning for the future, while accountants are primarily responsible for recording, analyzing, and reporting financial transactions.
8. Can I pursue a career in commerce even if I didn’t major in commerce during my undergraduate studies?
- Yes, you can still pursue a commerce-related career with additional qualifications or certifications. Many postgraduate programs and certification courses accept candidates from diverse educational backgrounds.
9. What soft skills are essential for success in commerce careers?
- Effective communication, analytical thinking, problem-solving, attention to detail, and adaptability are crucial soft skills in commerce careers.
10. Are there opportunities for international careers in commerce? – Yes, commerce careers often provide opportunities for international work, especially in roles related to international business, finance, and trade.
11. How can I stay updated with the latest trends and developments in commerce? – You can stay informed by reading industry publications, attending seminars and workshops, joining professional organizations, and pursuing continuing education and certifications.
12. What are some emerging fields within commerce that offer promising career prospects? – Emerging fields in commerce include fintech, data analytics, e-commerce, sustainable business, and digital marketing, among others.
13. How do I decide which commerce career is right for me? – Consider your interests, skills, and long-term career goals. Research various commerce careers, talk to professionals in the field, and seek guidance from career counselors.
These FAQs provide a general overview of common questions related to careers in commerce. Specific details may vary based on your location and individual circumstances.