In our previous edition of Future Focus, we explored the various career avenues for students in Engineering Students, in this edition of the series, we delve deeper into the various options available for students who opt for the Commerce Stream.
The National Education Policy 2020 has sought to revamp the education system in the country to deliver a more inclusive and equitable education that will cater to the developmental needs of our country. The rapidly changing employment landscape has made it necessary for education to expand its purview to emphasise the development of practical and interpersonal skills. In today’s world, students need to hone their skills of communication, discussion, debate, and research and also cultivate cross-disciplinary and interdisciplinary thinking. It is said that “Commerce changes the fate and genius of nations” This quotation from Thomas Gray aptly describes the importance and relevance of commerce in our lives, as an understanding of commerce equips individuals with the capabilities to create and participate in different jobs across the business value chain.
The Top 5 Career Options in Commerce
1. Chartered Accountants (CA) – CAs are highly sought-after individuals as they are involved in the management of finances for an organisation, a business, or even the government. The job of a CA includes managing financial accounts, budgeting, auditing, contributing to business strategy, and taxation. In India, the journey to becoming a CA begins with writing the Common Proficiency Test (CPT) followed by the IPCC (Intermediate) followed by the CA Final.
2. Certified Financial Planner (CFP) – The CFP certification given by the Financial Planning Standards Board (FPSB) equips people with the skills to take up financial planning as a profession. A CFP can help people manage their finances for retirement planning, life and health insurance, education, etc. The job involves evaluating the client’s financial status, understanding their short and long-term goals, and developing a financial plan to achieve those goals.
3. Company Secretary (CS) – A certified CS is hired to look into the legal aspects of a company. The CS certification is provided by The Institute of Company Secretaries of India (ICSI). These individuals are responsible for completing the company’s tax returns, maintaining records, advising the board of directors, and ensuring compliance with legal and statutory regulations. A thorough understanding of corporate law is essential for this job role. There are three levels to completing a CS degree if you pursue this certification after passing senior secondary school or grade 12. These are the Foundation Programme, Executive Programme, and Professional Programme. However, if you start after graduation you will have to undergo two stages which are the Executive Programme and Professional Programme.
4. Stock Broker – A stockbroker is a professional trader who buys and sells shares traded through stock exchanges on behalf of clients. An investor cannot directly trade in stock exchanges, hence all transactions need to be routed through intermediaries known as stock brokers. Most stockbrokers work for a brokerage firm and handle transactions for several individual and institutional customers. Stockbrokers are often paid on a commission. Stockbrokers are also responsible for providing investors with the information necessary to make correct investment decisions. Therefore, the minimum education qualification is a bachelor’s degree followed by a minimum of four months of work experience in a brokerage firm. After that, you become eligible to take the certification exam, the successful completion of which makes you a certified stockbroker.
5. Management Consulting and Investment Banking- Management consultants advise businesses on how to improve their operations and meet their business objectives in the most optimum manner keeping in mind the elements of cost and time efficiency. Management consultants can specialise in a variety of industries based on their education and area of interest be it technology, manufacturing, retail, etc. Investment bankers on the other hand advise businesses on mergers and acquisitions, raising capital, and managing financial transactions. Trained and experienced individuals with expertise in these fields are highly sought after as they play a significant role in the world of business and commerce.
Commerce forms the backbone of the global economy as it lies at the heart of all trade and business transactions that contribute to the economic growth and prosperity of individuals, organisations, and nations.
References:
- 15 Highest Salary Jobs for Commerce Students | Wings | Apr 2023
- Top 15 Highest Salary Jobs for Commerce Students | Knowledge Hut | Sept 2023
- A Guide to Choosing the Best Career Option for Commerce Students | Chegg | Nov 2023
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