If you’ve recently graduated with a Bachelor of Commerce (BCom) degree, you’re likely wondering, “What are the jobs after BCom and salary expectations?” The good news is that the field of accounting and finance offers a plethora of opportunities with competitive salaries, depending on your career choices and specialisations.
This blog is to inform the reader on all the various options and career paths available, which can be presented to BCom graduates along with salary scales expected. Be it the case that you have started fresh in your career or looking to upgrade your skills then you will be more equated towards making appropriate choices about the trend and potential of salaries in regards to careers in accounting and finance.
Employment prospects for BCom Graduates
BCom graduates are exposed to a variety of accounting and finance functions, such as:
Accountant - A role which maintains accurate updated financial records.
Financial Analyst - A person who assesses the market trends and helps the organisation in making decisions.
Tax Consultant - A role which helps in optimizing the tax and whether the organisation is adhering to the tax rules or not.
Auditor - A role which checks and verifies on financial statements for their accuracy.
Investment Banker - Assesses his clients for mergers and acquisitions besides raising funds.
The opportunities include banking and finance, financial services, consultancy, and even entrepreneurship ventures. The salary ranges for these jobs depend on their specific skills, experience, and location.
New Emerging BCom Jobs
The future of the BCom graduates includes the usual set of jobs alongside the emerging fields. More and more opportunities are going to be placed on the BCom graduates in some specialized areas, including the following:
Forensic Accounting – Providing accounting for fraud and white-collar crimes.
Risk Management - Identification and mitigation of financial risks for organizations.
Wealth Management - Provision of services for high-net-worth individuals in investments and financial planning.
The flexibility of BCom job roles allows graduates to position their careers according to one's interests and aspirations.
Overview of BCom Graduate Salary
The average salary upon passing BCom is INR 2.5 to 4.5 LPA in India. It becomes more than double with specialisations or certifications. Graduates observe that their earning tends to be more with experience or higher-level skills or some professional certification, for example, ACCA.
Factors Determining Salary after BCom
There are many factors deciding the salary that a graduate after completing BCom can expect:
Job Profile: A financial analyst earns more than a good accountant as it involves much complexity and value added to organization.
Industry: Higher than the traditional manufacturing sector: Banking and IT sector for jobs in finance for change with more research activities.
Location: In metropolitan cities like Mumbai, Delhi, and Bengaluru.
Skillset: Mastery over the tools like SAP, Tally, or advanced Excel combined with analytical skills will make a graduate profile rich in value.
Salary Scale Across Time
Entry Level: INR 2.5-4.5 LPA
Mid-Level: INR 5-8 LPA
Senior Level: INR 10-20 LPA
Top Executive: INR 30-50 LPA or more
Highly Paid Accounting and Finance Jobs
Entry Level Jobs and Their Average Salaries:
Accountant: INR 3-4 LPA
Tax Consultant: INR 4-5 LPA
Junior Auditor: INR 2.5-3.5 LPA
Mid-Level and Advanced Jobs:
Senior Accountant: 5-8 LPA
Financial Analyst: 6-10 LPA
CA: 7-15 LPA
Executive Positions
CFO: 30-50 LPA or more
Experienced ACCA Professionals up to 1 crore per year.
Wages in accountancy and finance are just as much the function of increments of experience.
Specialist Certifications to take Your Career to the Next Level
Although the base is a BCom, accreditation certification such as the ACCA can push the income through an exponential growth scale. Employers tend to be more appreciative of the globally acceptable qualification and thus help one standout at work.
Best Certification after BCom
ACCA: Tipped to open global doors; it is recognised by more than 180 countries.
CFA : Chartered Financial Analyst: Investment Management
CPA : Certified Public Accountant, an US-based Certification made for accountants
CMA : Certified for the management accountant and other accountant professional.
These too have their specific focus and benefits, so the suitability of one over the other depends on the career in terms of goals.
Why Consider ACCA for Accounting and Finance Careers?
The global CA certification recognized over 180 countries is the Association of Chartered Certified Accountants or simply known as ACCA. Being one of the oldest and the most iconic chartered accountancy bodies in the world, it has much more to offer. Here are some key takeaways for following ACCA:
Global presence: More than 8,00,000 members and affiliates.
Top Employers: 7,600+ ACCA-approved companies, including the Big Four.
Recognition: Best Education Provider in Finance at the 30th Elets World Education Summit 2024.
Qualification is very helpful for a BCom graduate who wanted to be more mobile to earn more money in the Global Market.
Wage Trends of BCom Grads through ACCA Course
This enhances the career profiles to a tremendous extent in case of a BCom grad. For freshers, it would draw an ACCA qualified professional to INR 6-8 LPA. Mid-management, of course, would go well placed in the scale of INR 10-15 LPA. And senior management would draw anywhere from INR 20-50 LPA or above.
The cherry on top? ACCA professionals with years of experience can earn an annual salary of up to INR 1 crore. Hence, ACCA is one of the premium certifications focusing on accounting and finance.
Frequently Asked Questions
What are the best jobs after BCom and salary expectations?
The best jobs are financial analyst, accountant, and tax consultant. The starting salary scale is between INR 2.5-5 LPA, and it gets increased after getting ACCA, etc.
How do BCom graduates increase their salaries?
The best modes of increasing earning potential are special certifications like ACCA, CPA, or CFA, technical skills, and experience.
What is the role of ACCA in boosting career prospects?
ACCA offers international acceptance and professional mobility. This opens the gates for highly paid jobs in accounting and finance. Actually, most of the leading firms recruit ACCA-certified professionals.
Is ACCA worth investing in?
Absolutely. Advantages include 100% job assurance and up to a potential INR 1 crore per year. Hence, ACCA is offering a return which cannot be beaten.
Does location influence the salary for a BCom graduate?
Metropolitan cities like Mumbai and Bengaluru offer higher salary packages as compared to the smaller towns because of more concentration of top employers and industries.
Conclusion
Accounting and finance industries are full of opportunities for BCom graduates. Be it entry-level or a career advancement by means of ACCA certification, growth can go limitless. All this can happen with good dedication, the enhancement of skill, and proper strategic decision-making to make the career fruitful.
Explore your options, invest in your education, and unlock a rewarding career path in accounting and finance.
