So you are done with the exams and heaved a sigh of relief! What next? No time to sit and relax. You will be either soon rushing behind colleges or universities to get yourself placed at your desired department to pursue your subject of choice or probably planning to fly abroad to grab the dream opportunity. There are plenty of courses abroad after B.Com; for that you need to know which is the right one for you. Do not get into that insane rush!! In this article, we will give you an overview about the plenty of opportunities you can have and universities abroad where you can pursue your higher studies after completing B.Com. We know you are a commerce freak who possess analytical and problem solving skills, waiting to solve some of the real-world problems. Let us have a look at the options:
Options after B.Com
Chartered Accountant (CA)
Most commerce graduates pursue CA, which is a lucrative career option since it renders them with multiple opportunities – be it working as a chartered accountant in a big firm or working as an auditor (both internal and external). As an auditor you will need to work with several clients and check financial statements; chances are with a good CA rank you can enter the top-most banks in the world.
You need to clear three examinations for a CA degree – Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC) and Final CA – which are conducted by the Institute of Chartered Accountants (ICAI). CPT is an entry-level test; a commerce graduate can directly apply for IPCC exam and after completing its two groups can move to Final CA. Once you complete all levels of Final CA, Congratulations! You are a registered CA degree holder now. A CA can have a great career as an investment consultant or as a fund manager in the long run.
B.Com graduates with a CPT score can opt for a Chartered Financial Analyst (CFA) degree abroad at a recognised university; it comes with some prerequisites which you have to fulfil.
Masters of Commerce (M.Com)
This is a two-year programme. Fresh graduates or students who have completed the Final CA programme are eligible for this degree. This is a broad field to study, which covers areas like accounting, actuarial sciences, economics, statistics, finance and others. M.Com graduates are usually employed in fields like marketing, project management and others. You can also opt for your PhD after completing M.Com.
If you wish to choose a degree in actuarial sciences, it will help you to use your skills of mathematics and statistics to solve risks in finance, insurance and other professions; experienced professionals in this field are called actuaries.
Majority of universities abroad do not provide M.Com; they provide individual masters degree in subjects (minor subjects) that are taken up during an M.Com in India.
Association of Chartered Certified Accountants (ACCA)
The ACCA offers the globally recognised Chartered Certified Accountants degree, which is one of the fastest growing qualifications in the world. A degree in ACCA provides you with the benefit of working as a chartered certified accountant. ACCA helps you to gain a good growth in the field of finance and accounting.
A masters degree in business administration is always the most enticing degree for a commerce graduate. There are many universities in the US and UK that offer MBA as either a 2-year or a 1-year or an accelerated programme. A work experience of a few years is usually preferred when it comes to doing an MBA. An MBA degree holder can work as a business analyst, business development manager, management consultant, marketing associate and others.
Cost Management Accounting (CMA)
The CMA degree is offered by the Institute of cost and works accountants of India (ICWAI), and it comprises three levels: CMA foundation, intermediate and final. CMA is an international certification that helps you to seek jobs in renowned MNCs. The Institute of Management Accountants (IMA) USA offers this programme. B.Com graduates can join the CMA intermediate level directly.
Certified Public Accounting (CPA)
The CPA is one of the toughest exams and is equivalent to the CA in India. It is conducted by the American Institute of Certified Public Accountants (AICPA). As a qualified CPA person, you can work with top MNCs. You can pursue this degree after completing M.Com, MBA, CS or CA. A degree in CPA lets you be a globetrotter since you have to meet several clients, so if you are looking for a great job with travelling all over…this is your piece of cake!
You can apply at any state or central government banks to work either as a Banker or at any other post. Moreover, you can apply for the post of Human Resource (HR) at any company. If you want to be a Stock Broker, you can do a short course on stock trading to gain experience and make a remarkable career in the stock market. Several other options include working as a Tax Consultant, Finance Consultant or an Insurance Consultant. In fact as a commerce graduate you can also enter into Travel & Tourism industry, which is slightly offbeat but one of the fast growing and vital industries in today’s world.
Minimum score to apply abroad after B.Com should be a GPA of 3, that is, 70% is the most preferred score. In addition to this, you need to have an IELTS score of minimum 6.5 and GRE of 305. Some countries prefer GMAT for certain degrees, for which you should be able to secure a minimum of 600.