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Career Library

Commerce

Home > Career Library > Commerce Accounts > Commerce
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Commerce

Summary

Commerce related careers are a backbone to all other careers, which take care of the functional processes of an organization in terms of accounting, finance, banking, auditing, taxation, and various other tasks. To pursue this field, an individual requires to have an inclination towards the affairs of corporate finance and/or stock markets as well as inner financing. The growing Indian Economy is opening immense opportunities in the Commerce field particularly in sectors like accountancy, business administration, e-commerce, taxation as well as international economics. Also with the liberalization, Indian economy has opened up capital market for foreign investors along with domestic investors. Many employment opportunities have been generated for individuals in the field due to the heavy flow of capital into the capital markets.

Career Opportunities in Commerce

  • Chartered Acccountancy
    Chartered Accountancy is one of the most looked-after and respected career option in India, particularly in the commerce sector, with endless opportunities in the private as well as the public sector. A Chartered Accountant (CA) is concerned to ensure that the financial transactions of an organisation are maintained according to the law. They also keep track of the cost of management of the company and manage tax matters, and are involved in providing the professional opinions to a fiscal decision in a firm. The work-profile of a chartered accountant is enormous, varying from finance management, financial controlling, financial advisory or being a director. Cost accountancy is one of the most flourishing field in this discipline. A person can also explore the career in CFA (Chartered Finance Accounting) and look forward to becoming a Portfolio or a Risk Manager.
  • Banking
    Banking, today, is a calling career for enthusiasts in the field of commerce and accounts. It is a crucial step towards understanding the global economy as well as discovering the challenges of the marketplace. This field has tremendous opportunities in local, national and foreign banks. Moreover, this field is concerned with accepting and safeguarding monetary funds in both private and public banks.
  • Business Finance
    A career in business finance encompasses a concern related to the monetary information in terms of increasing profit and minimizing financial risks. Business finance covers a wide variety of opportunities such as global finance, budget analysis, property management and financial forecasting. Thus, this discipline revolves around the capital funds and other valuable assets.
  • Management
    Management as a career includes a wide variety of options which may stretch across any sector or industry involving planning, organizing, directing or monitoring an organization to achieve their goals. The roles of the management person involve decision making, interpersonal coordination or handling information.
  • Auditing and tax
    This discipline is concerned with the review of financial records to determine the tax liability, revenue mobilisation as well as managing resources for National Budgets for effective functioning of the macroeconomic management. In addition, the individuals also aid interventions to support revenue mobilisation for growth and improvement of tax policies.
  • Marketing and Advertising
    Marketing careers are a link between the organization and customers and the field is best for people who like to strategize and identify patterns and trends. Given India?-?s flourishing corporate growth, a career in marketing is lucrative. The various marketing job profiles include - project managers, marketing managers, market analysts, sales managers, etc., identifying the need and potential markets for products or services, developing products, formulating a pricing and sales strategies for business growth to increase profitability and maintaining public relations.
  • Capital Markets
    The Capital Market is involved with the trading of the financial securities like bonds, stock, etc. The money is being channelled from savers and depository institutions to the borrowers and investees through various modes of securities like bonds, notes and shares.
  • Company Secretary
    Company Secretary (CS) in the industry deals with a wide range of opportunities in terms of finance, accounts, legal, personel and administration of a company acting as an executive adviser, helping the board to mold governance principles and practices in order to fulfil the essential needs for the effective functioning of the organisation. A CS is a specialist professional relating to company laws.
  • Non Profit Sector
    Individuals with the field of commerce can also join Civil Services or, in particular, the Indian Economic Services/Indian Statistical Services. Moreover, they can also pursue Law, design, defense or opt for being professors

How to Pursue a Career in Commerce

Stream Graduation After Graduation After Post Graduation
path 1
Clear Class XII in Any (preferably Commerce) Stream Pursue B.Com/B.Com(H)/BBA/BMS/BBI for 3 years Pursue M.Com/ MBA for 2 years-
path 2
Clear Class XII in Any (preferably Commerce) Stream Pursue Integrated Graduation program in Management for 5 years --
path 3
Clear Class XII in Any Stream Pursue B.Com/B.Com (H) (regular or correspondence) + Exams of CA- CPT, IPCC, FINAL and CA Articleship for 3 years CFA- Level I, Level II & Level IIIM.Com/MBA (regular or correspondence) for 2 years-

Important Facts

  • Most colleges have an eligibility criteria of minimum 50% aggregate marks in Class XII
  • Some Colleges/University also have an age limit.
  • English and Maths are mandatory subjects in some colleges.
  • For CFA, one should be in the final year of your bachelor's degree program at the time of registration or have four years of professional work experience (does not have to be investment related) or have a combination of professional work and college experience that totals at least four years.

Leading Institutes

Top Commerce Institutes in India
College Location Website
Shri Ram College of Commerce New Delhi www.srcc.edu/
Lady Shri Ram College for Women New Delhi www.lsr.edu.in/
Loyola College Chennai www.loyolacollege.edu/
Christ University Bangalore www.christuniversity.in/
Hindu College New Delhi www.hinducollege.org/
Hansraj College New Delhi www.hansrajcollege.co.in/
Stella Maris College Chennai www.stellamariscollege.org/
Symbiosis Society's College of Arts & Commerce Pune www.symbiosiscollege.edu.in/
St. Joseph's College of Commerce Bangalore www.sjcc.edu.in/
Mithibai Arts Chauhan Institute Mumbai www.mithibai.ac.in/
Sri Guru Gobind Singh College of Commerce New Delhi www.sggscc.ac.in/
Sri Venkateshwara College New Delhi www.svc.ac.in/
Jesus & Mary College New Delhi www.jmc.ac.in/
Goswami Ganesh Dutta Sanatan Dharma College Chandigarh www.ggdsd.ac.in/
Ethiraj College for Women Chennai www.ethirajcollege.in/
St. Wilfred's College Jaipur, Mumbai, ajmer www.stwilfreds.com/
KPB Hinduja College Mumbai www.hindujacollege.in/
National Degree College Bangalore www.ncbgudi.com/
Women's Christian College Calcutta www.wcc.edu.in/
Sacred Heart College Kochi www.shcollege.ac.in/Home
Shaheed Bhagat Singh College New Delhi www.sbsc.in/
Delhi College of Arts & Commerce New Delhi www.dcac.du.ac.in/
Seshadripuran College Bangalore www.spmcollege.ac.in/
Indian Institute of Management & Commerce Hyderabad www.iimchyderabad.com/
JD Birla Institute Kolkata www.jdbikolkata.in/
Gargi College New Delhi www.gargi.du.ac.in/
Shri Shikshayatan College Kolkata www.shrishikshayatancollege.org/
SGBT Khalsa College Delhi www.sgtbkhalsadu.ac.in/
DAV College Chandigarh www.davchd.com/
HL College of Commerce Ahmedabad www.hlcollege.edu/
MOP Vaishnav College for Women Chennai www.mopvc.edu.in/
St Joseph Degree and PG college Hyderabad www.josephscollege.ac.in/index.html
Delhi School of Economics New Delhi www.econdse.org
Narsee Monjee College of Commerce & Economics Mumbai www.nmcollege.in/
St. Andrews College of Arts, Science & Commerce Mumbai www.standrewscollege.ac.in/
Mount Carmel College Bangalore www.mountcarmelcollegeblr.co.in/
Stella Maris College Chennai www.stellamariscollege.org/
Mahatma Gandhi Kashi Vidyapeeth Varanasi www.mgkvp.ac.in/
Symbiosis Pune Pune www.scmspune.ac.in/bba-course.php
Xaviers College Mumbai www.xaviers.edu/main/
Amrita Vishwa Vidyapeetham or Amrita University Coimbatore www.amrita.edu
Shobhit University Meerut www.shobhituniversity.ac.in
ICFAI University Multiple Locations www.icfaiuniversity.in
Top Commerce Institutes in the World
Institution Location Website
London Business School United Kingdom www.london.edu/
Harvard University United States www.harvard.edu
Stanford University United States www.stanford.edu/
Princeton University United States www.princeton.edu/
University of California, Berkeley (UCB) United Stated www.berkeley.edu/
University of Chicago United States www.uchicago.in/
Dartmouth College in Hanover United States www.dartmouth.edu/
Yale University United States www.yale.edu
University of Cambridge United Kingdom www.cam.ac.uk/

Important Entrance Exams

Undergraduate
College Tentative Date Important Elements Website
BHU Entrance Exam for Economics April/May/June General Awareness, Verbal Ability, Numerical Ability www.bhu.ac.in/social_sciences/economics/
CA (CPT + IPC + FINAL) and three years of Articleship May and November Accounts, Tax, Law, Audit www.icai.org
Postgraduate
Institution Tentative Date Important Elements Website
DSE Entrance May/June Economics at graduation level www.econdse.org/m-a-admission-2017/
JNU Entrance May Economics at graduation level www.jnu.ac.in/SSS/CESP/admissions.htm
ISI Entrance May Economics at graduation level www.isical.ac.in/~admission
Madras School of Economics Entrance Exam April/May/June Economics at graduation level www.mse.ac.in/admissions
IGIDR Entrance Exam April/May Economics at graduation level, Maths and English- High School LevelEconomics at graduation level, Maths and English- High School Level www.igidr.ac.in/academic-programmes/m-sc/
BHU Entrance Exam for Economics April/May/June Economics at graduation level www.bhu.ac.in/social_sciences/economics

Work Description

  • Define business goals and determine the most effective course of action needed to reach the goals
  • Offer financial advice, audit accounts and provide trustworthy information about financial records
  • Analyze financial statements, sales reports and other performance indicators
  • Develop marketing strategies and be involved in selling of products to target customers
  • Identify places to cut costs and to improve performance, policies and programmes
  • Carry out research and data collection to understand the organization and its customers
  • Gather requirements from the customer and other stakeholders to prepare project report
  • Conduct market research and analysis
  • Solve day to day business problems
  • Act as change agent
  • Designate tasks and responsibilities to employees with the specific skill sets needed to complete the tasks

Pros & Cons of a Career in Commerce

Pros
  • Commerce, in India, is one of the most sought after streams today. With growing economy worldwide, professionals with background in commerce are in great demand in colleges and universities, banks, rating agencies, securities firms etc. Some of them can pay managers, businessmen in 6 figures. They have a high ability to influence the standard of living of an average man on the street.
  • An experienced & knowledgeable one can talk his way out & gain respect from people from all walks of life.
  • They are better informed of the complexities in the world.
Cons
  • A career in commerce has a wide scope, however, it’s not everyone’s piece of pie. One has to be in the know-about of all economic events happening in the world, be consistent throughout the graduation and post-graduation period and even after their studies are completed.
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