Commerce is the branch of any business that covers the economical part of the legal, social, political, technological and cultural system. Commerce relates to all the activities which are involved in the exchange of goods and services considered to the money between the Person and Companies. The student who is interested to work in the corporate sector usually chose Commerce. Courses provided in Commerce are Bachelor degree(B.com), master degree(M.com), M.phil. The average Course fees for B.com.M.com and M.phil are 25k to 1 Lakhs, 60k to 1.2 Lakhs, and 50k to 6 Lakhs respectively.
Top Colleges:
As now the students are much more interested to study Commerce many top colleges are offering these courses like B.com, M.com and M.phil. Every govt. colleges are also offering these course studies with very low course fees. Some of the top colleges offering these courses are listed below.
- Amity University, Noida
- Bangalore University, Bangalore
- Christ University, Bangalore
- Hindu College, New Delhi
- St Joseph's College of Commerce, Bangalore
- University of Mumbai, Mumbai
- Hansraj College, New Delhi
- Stella Maris College, Chennai
- Utkal University, Bhubaneswar
- Various Govt. colleges at the state level.
Highlights:
Before going to take admission to this course study one should basic knowledge about the details regarding Courses offered, duration, eligibility, admission process, course fees, top recruiters. The details about this are mentioned in the below table for a better understanding.
| Course Level | Graduation/Post Graduation/M.phil |
|---|---|
| Duration | 3years/2 Years/2years |
| Examination Type | Semester System |
| Eligibility | 10/2 in Commerce/Bachelors' Degree in Commerce (BCom)/M.com for M.phil |
| Admission | Merit-based or through Entrance Exams |
| Average course Fees | 25k to 1 Lakhs for B.com and 60k to 1.2 Lakhs for M.com and 50k to 6 Lakhs |
| Top Recruiters | SBI, ICICI, HDFC, AXIS Bank, YES Bank, Canara Bank, IBM, Reliance etc |
Courses and Eligibility:
There are various courses offered in the course study of Commerce such as B.com, M.com, M.phil, etc. Before applying for this one should be cleared about the details of this course such as the courses offered, eligibility top entrance tests conducted for this, etc. Here is given a very clear idea about the Course.
| Course | Duration | Eligibility | Entrance |
|---|---|---|---|
| B.Com | 3 Years | Minimum marks in 10+2 in Commerce from a recognized board. | Merit-Based |
| M.Com | 2 Years | B.Com or related subjects, with 45% minimum marks | Colleges conduct separate entrance tests. Common entrance tests include CUCET, AUCET, etc. |
| M.phil | 2 years | M.com in Commerce | Both Merit-based and Entrance Tests |
Top Recruiters:
As the course study of Commerce is related to the Banking sector, there is a lot of job opportunities in private and govt Banks. Various private and govt. Banks hire students from Commerce background. Some of the Top recruiters for a Commerce graduate and Postgraduate are mentioned below.
- Yes Bank
- Canara Bank
- Export-Import Bank
- Indian Bank
- Snapdeal
- Hindustan Unilever Ltd
- Nestle India
- Cadbury India
- Asian Paints India, etc.
- State Bank of India
- Punjab National Bank
- ICICI Bank
- Citibank
- HDFC
- Deloitte
- IndusInd bank
Admission Process:
The admission process for b.com is generally done on merit basis. Students get admission to various colleges according to their marks obtained in 10+2 level. The colleges notify the merit list and the admission process is done. But the admission process for M.com and M.phil courses is done on the entrance test. Students get admission to different colleges according to their rank. Some colleges also give direct admission for M.com degrees. After the entrance test, students are shortlisted for Group Discussion and Personal Interview round. Some universities may not conduct Group Discussion. Direct admissions are offered according to the merit of the undergraduate degree. Generally, students with a first-class degree in B.Com. are preferably given direct admission to the M.Com. program. The admission process for M.phil courses is done both on entrance test and merit basis.
Syllabus:
The syllabus for these studies is different for B.com, M.com and Mphil. One chooses an honors subject in B.com and complete postgraduation and M.phil in that particular subject. The syllabus is almost the same in every college in India. Here is mentioned the syllabus for B.com, M.com and M.phil courses.
Syllabus Fo B.com:
- Financial Accounting
- Micro Economics-I
- Micro Economics-II
- Business Law
- Indirect Tax
- Cost Accounting
- International Business
- Business Communication
Syllabus For M.com:
- Accounting And Managerial Decision
- Corporate Legal Environment
- E-Commerce
- Financial Management
- Statistical Analysis
- Marketing Behaviour
- Strategic Management
- Income Tax
Syllabus For M.phil:
- Research Methodology
- Marketing Management
- International Business
- Theory and Practice of Research
- Analysis of Data and Statistical application in research
Skills Required:
The job role of a commerce student is generally a managerial level. A manager is responsible for all the activities of the organization. So to pursue this course one must have some essential skills which are more required. Some of the basic skills needed for this course are mentioned below.
- Logical reasoning
- Ability to remember facts and figures
- Strong analytical skills
- Ability to handle the pressure
- Strength in Mathematics
- Strong verbal and communication skills
- Eye for detail
- Leadership qualities
- Knowledge of banking and finance sector
- Good with computers
Top Entrances:
The admission process for these courses is different from one another. The admission process for B.com is generally done on a merit basis. But to take admission into M.com and M.phil course the applicants have to face some entrance tests. Some colleges also give direct admission on a merit basis. The entrance tests are conducted at the national level, state level and by individual Colleges. Some of the top entrance tests conducted for this are mentioned below.
- CUCET
- AUCET
- PUET
- DUET
- BHU PET
- ALLAHABAD UNIVERSITY PGAT
- DELHI UNIVERSITY ENTRANCE EXAM.
Career and Job Prospects:
As the Banking sector is growing rapidly, the demand of a Commerce background is very high. After the completion of this course, they are posted in various govt. and private Banks, Financial institutes, colleges and Universities with a big salary. They are posted as Accountant, Finance Manager, Operations Manager, Reader and professor, etc. The details are tabulated below.
| Job Profile | Job Description | Average Salary in INR |
|---|---|---|
| Accountant | Accountants perform financial calculations for companies in a wide variety of fields. | 2.5 lakh |
| Finance Manager | Finance managers develop and monitor departmental budgets. They make relevant financial forecasts for their company. | 10 lakh |
| Operations Manager | Operations managers oversee their organization’s production of goods and/or services. They oversee various departments, such as purchasing, warehousing, and manufacturing. | 7.8 lakh |
| Financial Analyst | A financial analyst carefully studies marketplace trends, demographics and microeconomic factors to help the company make smart investments. | 4 lakhs |
FAQs
Q: What are the career prospects after MCom?
A: After completion of this program, a student can also find employment in both the Private and Public sectors. An M.Com. degree holder can look for a career opportunity in the public sector in various nationalized banks like State Bank of India, Union Bank, etc. Railway Recruitment Board recruits these postgraduates for the post of Assistant Accounts/Audit Officer.
In the Private Sector too, they can find employment in many roles such as:
- Accountant
- Finance manager
- Operation manager
- Financial analyst
- Assistant finance manager
- Account executive
Q: Which are the top recruiters in the private sectors for Commerce background students?
A: Here are some of the top recruiters for MCom graduates:
- YES Bank
- ICICI Bank
- HdFC Bank
- IBM
- Reliance
- SnapDeal
Q: What are the top colleges for Commerce in India?
A: Here are some of the best colleges in the country for studying Commerce:
- Amity University, Noida
- Bangalore University, Bangalore
- Christ University, Bangalore
- Hindu College, New Delhi
For further details refer to the Top Colleges section.
Q: What are the skills required for a career in Commerce?
A: Given below is the skill set necessary for a career in Commerce:
- Logical reasoning
- Ability to remember facts and figures
- Strong analytical skills
- Ability to handle pressure (of course as well as work)
- Strength in Mathematics
- Strong verbal and communication skills
- Eye for detail
- Leadership qualities
- Knowledge of banking and finance sector
- Good with computers
Q: What is the minimum eligibility criteria for getting admission into MCom?
A: For admission to M.Com, students must fulfill the below-mentioned eligibility criteria.
- Bachelor’s degree in Commerce
- Minimum 45% marks at the level of graduation
- Certain universities also admit students with a B.A. Economics (Hons.) degree
- Students who have passed B.B.S., B.B.A., B.F.I.A. and B.B.E. with at least 60% marks can also apply
