CHARTERED ACCOUNTANT
A Chartered Accountant is one of the best career options for commerce students. A person from a commerce background is likely to get into a Chartered Accountancy professional course. A candidate can easily get into this job through a series of examinations, internships, and additional qualifications. The Institute of Chartered Accountants of India or ICAI nominates an aspirant as a chartered accountant. The job of a CA is to handle company accounts and finances to maintain the records and rescue an organization from an uncertain and unpredictable business environment.
The role of a Chartered Accountant is one of the most important roles in an organization; it is an indispensable job description for a business. Therefore, it is one of the highest-paid jobs in India. One can expect a salary of 6 to 7 lakh rupees per annum, and the value keeps on increasing as the qualification of an accountant increases.
INVESTMENT BANKER
An investment banker holds the most lucrative and vital position in a business organization. The main job description for an investment banker is to provide financial recommendations to help business organizations optimally use their resources and to be able to reach their goals. A person with good knowledge of financial assets and investments can opt for this occupation. This occupation has varied roles, such as analysts, associates, etc. Investment bankers help companies make sound decisions regarding investment to increase the value of their assets. An investment banker can earn a handsome salary of approximately 26 lakh rupees per annum.
COST ACCOUNTANT
A cost accountant emphasizes the fundamental and conceptual basis of accounting. It relates to financial analysis, business organization, money, the principle of economics and various other elements of the business financial world. Cost Accountant can prove to be the best career opportunity in commerce.
The job of a Cost Accountant is to prepare the budget and evaluation of the company’s performance. To become a cost accountant, one needs to go for a bachelor’s degree and then for other higher degrees for higher positions. A beginner can earn a handsome salary of 4 lakh rupees.
ACTUARIES
Actuaries are the ones who regulate various financial management of resources. They study the impact of financial risk and financial uncertainties in the changing business world. An actuary is the most responsible and the innermost part of the financial department of an organization. Thus, every action heavily impacts the overall fate of a business organization. It can be one of the most flourishing and best jobs in commerce.
They assess various financial assets and security systems and constantly monitor the day-to-day complexities.
An actuary gets an annual salary of 10-14 lakh. As soon as the candidate goes for a higher qualification, this amount increases, benefiting both actuary and business organizations.
FINANCIAL PLANNER
A financial planner is a company’s planning partner and an educator. They may help an organization meet short term and long-term goals. Therefore, they cure a business organization’s financial health and can be categorized as one of commerce students’ most important career options.
A financial planner works to get a complete picture of your assets, liabilities, income, and expenses through rigorous analysis and interpretation of the data available. A financial planner is responsible for just financial decisions, but the latter also strategizes tax issues, savings, budget, and evaluation of current and future situation of the business firms.
BANKING
Banking is one of the most common and demanding careers in India. A student from a commerce background will always prefer to get into this economic sector.
The demand for banking as a career is growing day by day. This is because they are truly the backbone of a country’s economy. There is a rapid growth in employment opportunities in the banking sector. It has paved the way for many aspirants who want to get into it. As a result, a huge demand has created opportunities in the form of jobs for several candidates. There are many vacancies in both the public and private sectors. Both these sectors require good qualifications as well as a good educational background. A candidate needs to go through various banking examinations to get selected.
COMPANY SECRETARY
A company secretary acts as a conscience seeker for a company. They hold a principal position in an organization. The job of a CS is to keep track of tax returns keeping returns. They must advise the board of directors and make sure that the company works within legal and ethical compliances. They act as mediators between different company stakeholders such as the shareholders, government, board of directors, etc. The ICSI, i.e., the institute of company secretaries of India, is a statutory body that regulates the profession of a company secretary. They provide training and education to millions of aspirants and is a recognized body responsible for making an aspirant a CS. A candidate must complete three levels of examination under ICSI. One can expect a hefty salary of 6- 7 lakhs per annum.
INSURANCE
Insurance professionals are in high demand nowadays. They act as a mediator between the insurance companies and the customers. They communicate a company’s schemes and offers to the customers helping them to choose the best out of available and at the same time communicating customer’s grievances to the company. It will help a business organization constantly change their policies according to customers’ choices as their goal is to serve customers. An aspirant can perform various roles, ranging from an insurance agent to a sales manager or as an insurance underwriter. A commerce student is clearer and straight with various policies and schemes of the business world they have a good understanding of future financial situations.
STOCKBROKER
Stockbrokers are the most flourishing market for both investors and companies. Stockbrokers sell financial securities or stocks in the market. The market keeps on changing constantly. Therefore, a stockbroker needs to monitor the market’s upward or downward movement constantly. It is the best opportunity for an aspirant. For this job, you need to keep a close look at the functioning of the market. Moreover, it would be best to understand how SENSEX and NIFTY work.
This job is accessible for every individual irrespective of their study background. However, it is more feasible for commerce students as they have a deep insight into various financial terms. They can easily grasp the complexities of various investing mechanisms. One can get into various positions being a stockbroker. For instance, financial advisors, dealer, investment advisor, fundamental analyst, equity advisors and many more. A stockbroker is the most lucrative career option for commerce students.
MANAGEMENT ACCOUNTING
Management accounting is also known as managerial accounting. It is one of the best career options for commerce students. The basic work in this field is to provide financial information and needed resources to the company managers. They help in the decision-making process of a firm. In this procedure, the financial department shares various financial statements, invoices, and other important pieces of financial information with them. The main motive behind managerial accounting is to enable the management staff to make accurate decisions using accurate statistical data. They help run the business decision operations of the company smoothly.
The role of management accountant plays a vital role in finding out various business risks. This job implements theoretical knowledge practically in real business life situations.
FINAL THOUGHT
These have been the top 10 career opportunities and the most highly paid jobs for a commerce student. So, if commerce is one’s calling, they don’t need to buck under traditions and various societal pressures. Look for opportunities and experiments in your field. Go for the role you want to play in this economic world and fly with successful colours. One needs to look out for their passion and rely on the stuff that beckons.