It may seem tough to decide upon a career in this field, but the field of commerce offers many options to students
Sector overview
Come admission season, the popularity of the field of commerce is shown by many students who would have cleared their class 10 exams. Some of these students are in a dilemma regarding which field to choose, and often, commerce becomes the option not by first choice, but by elimination: “Since I do not want to pursue science or arts, I will opt for commerce”. Students are not aware of what they want to pursue after graduation and where there interests lie, so they just follow their friends into the field. That, however, according to many, is the beauty of the field. It has the space to accommodate everyone – those who know what they want to do, and even those who do not know what they want to do.
Often, parents and other elders at home assume that choosing commerce means becoming a chartered accountant. They do not look beyond. Students need to realise that there are many other options available in the field and they need to keep an eye out for all these options. There are many kinds of professionals needed in this world, and therefore, students should look at their abilities and interests and choose a study options accordingly.
There are other professions and many of them stem from studying commerce. Essentially, commerce is all about getting a grasp about how business, and trade and the finance and accounting industry work in the country. You will gain an understanding about the markets, economics, the financial policies, other business and industrial policies and so on. The enhancement in the syllabus has made the several inter-disciplinary subjects as part of this course – subjects like marketing, advertising, sales, business administration and so on. After all, it is a matter of finance which will drive the growth of the country.
To get there
Getting into the field of commerce is not difficult, and it is quite straightforward. You have to choose commerce as an option after class 10 (SSC or equivalent). You will be trained in commerce subjects in class 11 and 12, after which you choose to complete your Bachelor’s in Commerce (BCom), which is a three-year programme. In fact, specialised graduation options are also offered by several colleges affiliated to the University of Mumbai. You can also opt for BCom if you have completed your class 12 (HSC or equivalent) in the science stream.
Students who are currently studying in the stream say that the academic rigour required for commerce is relatively easy compared to other fields, and does not pressure the students too much. In addition to BCom, there are many specialised courses available within the field of accounting and finance for which you can opt. These include Bachelor’s in Accounting and Finance (BAF), Bachelor’s in Business and Insurance (BBI), Bachelor in Financial Markets (BFM). Also, two other courses are available which a student can choose after class 12, which include Bachelor’s in Management Studies (BMS) and Bachelor’s in Mass Media (BMM).
All of these courses are not aided by the university, and therefore the fee his much higher compared to a regular BCom. Students say, these courses provide additional learning experiences and options for students, with a strong practical element.
Along with BCom degree you have the option of studying for professional courses like chartered accountancy, company secretaryship, cost and works accounting and chartered financial accounting. Commerce is a field that leave the field wide open for any student. After pursing graduation in commerce (or even class 12) there are several diploma courses available in a variety of subjects and fields that the student can take up – for instance travel and tourism or export and import studies.
Even after BCom, there are many career options available to graduates, including law, journalism, hospitality management and MBA, to name a few.
The market
With the students having so many choices to pick a programme, the market also throws up many work options with each specialisation. Students can look for job roles relating to finance, accounting, taxation and even stock market. With a professional qualification like a CA or a CS under your belt, your options become even better. For those interested in stock markets, there are courses offered by the BSE Training Institute as well as the National Stock Exchange.
Apart from these options, one can think about the banking sector with the huge growth in private banks and financial services. Students often study further and go for a Master’s in Commerce (MCom) which can then lead to a teaching career after taking a few qualifying exams. It is a popular and fruitful option, as many find the job security attractive and also the working hours.
With e-commerce coming up so well, there are numerous opening for those with fresh ideas and a demonstrated ability to add to the business. Realise that the degree can add only the academic knowledge, but you have to have certain skills for working in the field, like understanding and working with numbers, and ability to analyse numerical data. You need decent communication skills, along with the readiness to work long hours if needed.
The remuneration differs with the field and the job description. It is a wide range, and you can easily climb the corporate ladder with this one. A fresh BCom graduate opting for an accountant’s job will start anywhere between Rs. 12,000 to Rs. 15,000 pm. All higher level graduates (professional or postgraduates) will draw salaries ranging from Rs. 20,000 a month to Rs. 50,000 depending on the profile and education.
An aspirant asks
Vikas Soni / Class 10 student
I know that I am going to opt for commerce, but it is not because I like the subject very much. I know I do not have the calibre for science and I do not want to study arts. Therefore, I am going to take commerce. I am worried that if this continues, in a few years, again, I will not know what to do further to make a career. How can I arrive at a decision as to which programme to take up after entering the field of commerce?
Professional Pratik Gala answers: I think that for six months after college begins, you should just get set with the new experience, learn about the ways of college and how it is different from school and just enjoy the phase. By then, you will have learnt a bit about the subjects in commerce. As mentioned in this article, there are many options you can take up after commerce, and you have sufficient time to think about it. In the next year or so, you at least decide which course you want to take up after class 12, and work accordingly since the admission is dependent on the marks. Apart from that, you need to read up on different things and talk to different professionals about their job roles – like someone who pursued banking, or finance, or marketing or even chartered accountancy. Seek the help of a professional career counsellor if necessary.
This detailed article is done at the request of our reader, class 10 student Vikas Soni. If you want to know more about a particular field, write to us at knowledge@fpj.co.in
A student says
Charmi Shah / TYBCom student
I love this field. The subjects are slightly theoretical, but then it also offers a lot of perspective, and a lot of time at hand to pursue other interests and education options. What is even better is that even after I graduate, I will have a wide array of career options to choose from. I have already pursued in course in financial markets, and I am contemplating a career in the stock market.
Also, I feel that this is an option where students do not have to ‘slog’ too hard, since not much within the three years depends on marks. Almost all courses after graduation do look at marks, but there are other factors as well. I guess what I am trying to say is that students do not have to work as hard as medical or engineering aspirants at the entry-level stage.
During the course of five years, we learn many subjects, and some may be more useful than the others. Unfortunately, like every field, commerce may not promise you great teachers always. The teachers form a variable in a commerce student’s life like no other. If you have a good teacher, great and if you don’t, bad luck! I feel that commerce provides a good grounding for whatever you want to do in future.
In the field
Pratik Gala / Chartered accountant
This is a field that offers a lot of time for getting involved in activities and events, and also leaves a decent amount of time to study, when study you have to. It helps you to become a well rounded individual and pick up a few life skills along the way. I think that students who want to opt for commerce should use their research skills over the internet and look for cues regarding the profession you choose over and above what the syllabus prescribes.
Also, looking at the practical side of things will help you a lot, especially in gaining internships, and these internships might help you to understand which field you like and which field you can do well in. We say that commerce is an easy field to get through because students and teachers stick to the syllabus, but, there are many other ways of gathering knowledge in a dynamic atmosphere, and I really hope students do that.
Just because the syllabus does not prescribe it, don’t shy away from an internship. It will help you in ways that lectures in college never will. It will define for you how the real world works and how people put in the effort every day, day after day to get the work done within deadlines. It will teach you people skills and personal management as well.
