Best Career Opportunities for Graduates with an Online MCom

Dive In: A Peak into the Commerce Industry 

Finance, accounting, and business management are the three most essential elements of running a successful organisation, and they are a small part of the commerce field. To run a business today is not a cakewalk! You need strong theoretical knowledge and practical experience that combine the elements of these three key subjects—the versatility of this field such that it opens multiple avenues apart from the conventional career prospects. India’s commerce sector has shown a whopping 35 per cent growth in the last decade.

This can be credited to the rise of the E-commerce sector and the digital wave. The goal India has set for itself is to become a powerhouse by the year 2025. This means a growing demand for people who can contribute to this sector. As a result, the demand for commerce graduates is at its peak and roles such as

1. Financial analysts

2. Auditors

3. Chartered accountants

4. Business consultants

These are also highly respectable jobs. Additionally, the job market for commerce professionals is anticipated to grow by 12 per cent annually, making it one of the fastest-expanding fields in the country. Let us explore what an MCom is, what it offers, and, most importantly, what the top career opportunities are for graduates with an online MCom.

What is MCom?: In Easy Words

MCom stands for Master of Commerce . It is a postgraduate degree in the subject of commerce.

Here are its components:

• Business Studies

• Accountancy

• Economics

Also Read: Online MCom Course Details

Top Career Opportunities You Can Explore

1. Financial Analyst

Every business needs an analyst to identify possible risks that could damage its financial conditions in the present or future. This job involves predicting financial success and finding solutions to risks that might hamper the business or its goals. Various industries, such as banking, insurance, accounting, and many more, hire financial analysts to maintain their records.

Once the analyst identifies the financial pattern and predicts any possible risks, he/she immediately reports to senior management or the concerned authority to take action accordingly.

Skills required by a financial analyst:

• Attention to detail

• Analytical skills

• Financial modeling

• Technical proficiency with Microsoft Excel, financial software

• Communication skills

Top Recruiters and Salaries:

The pay scale below is a general range that can differ based on the company location, job roles and responsibilities, individual qualifications and work profile, and years of experience.

2. Investment Banking

After completing an MBA, investment banking is also considered one of the highest-paying job roles in finance and accounting. An investment banker specialises in the right skills and knowledge to help businesses raise their capital by issuing and trading securities. As tricky as it sounds, running any successful business is a significant part of the job. Investment bankers usually work for banks.

Skills Required by an Investment Banker:

• Developing fresh investment concepts

• Regulatory Knowledge

• Client Relationship Building

• Settling credit agreements

• Strategic Thinking

Top Recruiters and Salaries:

The scale below is a general range that can differ based on the company location, job roles and responsibilities, individual qualifications and work profile, and years of experience.

3. Corporate Treasurer 

A corporate treasurer is an individual who is largely responsible for the financial risk management, liquidity, and funding required by a company or business to grow. They have to ensure that the business has enough reliable financial resources to plan its expansion, not compromise on its plans, and manage its future financial requirements carefully.

The following are the responsibilities of a corporate treasurer:

• Management of the liquidity so there is enough cash flow for the company.

• Strategising the financial decisions to manage the risks involved and funding wherever required.

Skills Required by a Corporate Treasurer:

• Cash Management

• Risk Management

• Financial Planning

• Communication

• Analytical Skills

Top Recruiters and Salaries:

The scale below is a general range that can differ based on the company location, job roles and responsibilities, individual qualifications and work profile, and years of experience.

Top Industries in Commerce

Here are the top industries you can explore if you are interested in commerce and are planning to pursue an online MCom.

Job Roles: The Handful of Opportunities

Here are the top job roles in the commerce industry that offer an impressive return on investment.

Conclusion

Online degrees like MCom provide excellent flexibility in scheduling, cost, course materials availability, and other areas. In recent years, the popularity of online and remote degrees has increased dramatically because of their flexibility, affordability, accessibility, and convenience.

Online degrees are more likely to be used in extracurricular activities and other opportunities. This way, you could manage your studies and extracurricular activities. If you are still wondering whether it is a good idea to consider an online MCom degree, it is!

The field is bound to prepare you for the cutthroat competition of the commerce industry. An online degree will bring benefits, and the subject will help you sharpen your skills and knowledge of this sector, making it the perfect combination even for working professionals.

Frequently Asked Questions

Q1. Which are the highest-paid career opportunities after an MCom?

The following are the highest-paid career opportunities after an MCom:

• Financial Analyst

• Chartered Accountant (CA)

• Investment Banker

• Corporate Treasurer

• Tax Consultant

Q2. Which is the most growing career field in MCom that promises a good financial return?

Chartered Accountancy (CA) is a growing career field in MCom that promises a good financial return.

Q3. What are the disadvantages of pursuing an online degree?

The following are the disadvantages of pursuing an online degree:

• Lack of exposure to in-person interaction

• No experience of campus life

• Limited networking opportunities

• Difficulty in maintaining motivation

Q4. Are online degrees more affordable than offline ones?

Yes, you can avoid extra costs such as commuting, reading material, hostel or accommodation expenses, food, and basic amenities. Additionally, some colleges offer you a degree at a lower tuition fee than offline degrees.

Q5. What are the most important components of an MCom degree?

The following are the most important components of an MCom degree:

• Accounting

• Finance

• Business Law

• Economics

• Taxation