BCom Graduate Salary: When it comes to choosing a career in the finance sector, students do their BCom graduation these days as the scope is huge and demand at various levels while choosing any particular career-related to finance at the time of their selection process.
Among all those careers that stand before them, of all type, the financial account will top up to be one of the most aspiring lanes for any postgraduate student who belongs to the BCom branch. How much will a BCom graduate draw for financial accounting?
We elaborate on remunerations, careers, and prospects of growth within the confines of financial accounting to the BCom graduate.
According to research, the global financial services market is projected to grow from $33,379.8 billion in 2024 to $35,857.46 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. This growth means more job opportunities and better salaries for professionals in the financial accounting sector.
What is the Starting Salary for BCom Graduates?
It is very wide regarding the different facts that a BCom graduate would post like the place he or she joined, from which industry he or she selected to join and so on. Differences between metro cities and non-metro cities in India are very stringent.
Finances Account BCom Graduate has job earnings wage between ₹3,00,000 to ₹5,00,000 per annum with in early years of their career; Rate remains flexible considering educational background as well as details relating to speciality skill.
Factors Influencing BCom Graduate Salary
Several factors impact the salary of a BCom graduate in financial accounting. These include:
- Location: The pay scale in metros is much higher as compared to anywhere else. In this case, if Mumbai is at a higher margin, then again it would increase the salary a lot more as compared to Bangalore or Delhi.
- Industry: Therefore, working in one specific industry must have some difference in your pocket. Banks, insurance companies associated with international multi-nationals are known for paying better money to financial accountants.
- Experience: As with any career, the more experience you gain, the higher your earning potential. Entry-level salaries may start on the lower end, but with experience, they increase substantially.
Education and Skills: Be it CA, CMA or other certificates- if one undertakes a course to complete Financial Accountancy still it is the CA graduate, who enhanced the ability to acquire very high sum in an equated amount.
Financial Accountant Salary: How Much Can You Expect?
Taking pay into account, if BCom graduate should generally expect that would amount to first salary, this in case of a consolidation on account of much experience compared with another especially in such matters would be comparatively much better. More so with every passing year, drawing remuneration from financial accounts, during an average year in, ₹ of ₹5,00,000 to ₹9,00,000.
This pay increases with experience and years since the incumbent is holding more experienced jobs like accounting managers and financial controller jobs. Experienced accountants can take from ₹10,00,000 to ₹20,00,000 per year since these are different offers received from firms and industries.
Financial Accountant Salary Across Different Industries
- Banking & Finance: Incomes to the financial accountants would most likely be working in the bank and finance industries, at least they have to reach up to a significant level, compared to the majority of individuals working in this entire industry. Income could be as high as even Rs 6,00,000 per annum for a year down to even Rs 12,00,000 per annum.
- Insurance: The staff of the insurance industry can get up to scales from the salary up to Rs 5,00,000 yearly up to that of annual salary of Rs 9,00,000.
- Manufacturing and Retail: In this sector, concerning the financial accounting, the range of the salary will be between ₹4,50,000 to ₹7,00,000 annually.
BCom Jobs With Salary Benefits
After BCom, except for management, there are various jobs for which the students opt under the head of financial accounting and auditing. All such popular jobs after BCom along with their salary range is as follows:
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1. Financial Accountant
It would maintain the accounts of the financial transactions of the firms and would present the required financial statements while ensuring that the concerned companies were in accordance with the law guidelines. As discussed above, it falls in the category of more than ₹3,00,000 to ₹9,00,000.
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2. CA-Chartered Accountant
CA would bring much more. One would get money as a CA more than average BCom students. CA income is higher even than average graduates, that's ₹6,00,000 to ₹12,00,000.
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3. Tax Consultant
The tax consultant shall advice the firm and individual what the tax law means and what they should strive for. One can estimate it to generate in India at the range of ₹4,00,000 - ₹8,00,000.
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4. Financial Analyst
They look at the status quo of the financial side of the organization and give their suggestion appropriately with strategic ideas. Their reward will be in the range of ₹5,00,000 and ₹10,00,000 per annum.
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5. Management Trainee
Most of the BCom students are placed as a management trainee in large organisations. They receive an amount of around ₹4,00,000 to ₹6,00,000 per year
BCom Graduate Salary in India: Overview
The salary for BCom in India is somewhere between place, sector, and depends on the skills. Fresher will get ₹2,50,000 to ₹5,00,000 while mid-level candidates will get ₹6,00,000 to ₹12,00,000.
BCom Average Salary by Location
Delhi/NCR: ₹4,00,000 to ₹8,00,000
Mumbai: ₹5,00,000 to ₹9,00,000
Bangalore: ₹4,50,000 to ₹7,50,000
Chennai: ₹4,00,000 to ₹6,50,000
Why Choose a Financial Accounting Course?
Since you are a BCom graduate, this course on financial accounting will be to your advantage. Even if your interest in this field is such that you will go even further ahead and specialize in high levels also. As such that course also is taught to you, which would even have provided appropriate theoretical and practical knowledge aspects in accountancy, taxation, and audits along with considerations of value on the part of the employers that would be giving for using the knowledge related to your value transactions .
Benefits of Pursuing a Financial Accounting Course
- Job Preparations: Almost all sorts of financial accounting require more practical jobs, and for that, a student is always prepared in jobs.
- Industries Awareness: After achieving some qualifications or certification that of financial accounting then only one single individual reaches towards some uplifted prospects associated with some increments that he meets.
- Salary Growth: Once he gets any kind of knowledge increase to him then later on then he achieves up-scale salaries to him.
It is pretty very high but at initial level the salary for BCom is not much high. It becomes wide when there are ample experience and expertise mainly after having particular certification in some kind of industry or courses to obtain some post graduate degree.
- Financial Manager: A person can be at the stage of financial manager and thus one can reach upto ₹8,00,000-₹15,00,000
- Chief Financial Officer: Ten year graduation after BCom makes him a CFO and remuneration crosses ₹20,00,000 per year
FAQs
Q1. What is the starting salary of a BCom person in the field of finance accounting?
The starting salary for BCom graduates in financial accounting typically ranges between ₹3,00,000 to ₹5,00,000 annually.
Q2: How much can an experienced financial accountant earn?
This Salary of Experienced financial Accountant may be assigned in the range of ₹6,00,000 to ₹12,00,000 a year.
Q3: What is the salary range for BCom graduates in India?
In India, the entry level of the salary for the BCom graduate shall range between ₹2,50,000 to ₹5,00,000 in a year.
Q4: Why should I pursue a Financial Accounting course?
With such a course, it shall equip you with the right skills and competencies to turn into an effective candidate, raising the bar for a future earning in the financial marketplace.
Conclusion
Number of years of experience, place, sector, and degree of qualification are some parameters through which the package for salary to be given would be affected partially. It will probably be at the entry-level salary of about ₹3,00,000 to ₹5,00,000 per annum; proper certification and experience allow even high salaried financial accounting jobs open.
All who are in dire need of up-gradation in their careers; they would go for Financial Accounting courses postgraduates too could be done with tremendous job profiling opportunities with a huge increment on both the job position and career lines associated.
Thus, financial accounting would, no doubt attract more such lucrative opportunities under the spreading wings of the finance industry all around the world. So, a BCom learner who aspires for high pay can very easily decide to study finance accounting and may study pertaining to financial accounting.
