6 Best Commerce Courses – Selecting the right course after 12th grade is very important because it forms the basis of one’s career.
There are several good career options for the students who have passed 12th with commerce stream. In this blog, we look into six of the best commerce courses in India that not only give good learning experience but also provide good pay scale in 2024.
1. Chartered Accountancy (CA)
Overview
The profession of Chartered Accountant is highly regarded and considered one of the most important in India. The course is offered by the Institute of Chartered Accountants of India (ICAI) and is divided into three levels: CA Foundation, CA Intermediate, and CA Final are the three levels of examinations that a candidate has to complete in order to become a Chartered Accountant.
Course Structure
CA Foundation: Test that a student has to take after completion of 12th standard.
CA Intermediate: The second level includes the theoretical tests and practical assignments.
CA Final: The final process that is left is to pass final examinations after completing mandatory articleship.
Salary Prospects
The pay scale of a newly qualified CA in India starts from INR 6 to 10 lakhs per annum. After gaining some years of experience, the pay can rise to as high as INR 20 lakhs per annum, especially if the auditor is working for a multinational company or any of the leading audit firms.
Why Choose CA?
CA professionals are much sought after in today’s business world and can find employment opportunities in finance, auditing, taxation, consultancy and many other fields. The course prepares the candidates in a very effective way and due to their specialized knowledge and rigorous training, they are highly sought after in the job market.
2. Company Secretary (CS)
Overview
A Company Secretary also known as CS plays a critical role in bridging the company’s relationship with its board of directors, shareholders, the government, and other regulatory bodies. This course is conducted by the Institute of Company Secretaries of India (ICSI).
Course Structure
CS Foundation Programme: The first step for students after 12th.
CS Executive Programme: Slightly more advanced level, which requires more comprehensive analysis.
CS Professional Programme: The last level with more complex topics.
Salary Prospects
The pay scale that a CS can begin with is between INR 4 to 6 lakhs per annum. Experience and specialization enable the professionals to get paid up to INR 15-20 lakhs per annum.
Why Choose CS?
The information provided concludes that a CS is crucial in the legal and regulatory compliance of organizations, which makes them vital in corporate governance. This course provides a great opportunity to get a brilliant job with a large number of responsibilities and a high level of payment.
3. Cost and Management Accountancy (CMA)
Overview
CMA stands for Cost and Management Accountant; these professionals are specialized in cost accounting and financial management. ICMAI offers this course.
Course Structure
CMA Foundation: Entry-level examination.
CMA Intermediate: Comprises of eight papers which are grouped into two categories.
CMA Final: Subdivision of the advanced level with more profound topics.
Salary Prospects
The salary package that a CMA can start with may be between INR 5 to 8 lakhs per annum. After getting some years of experience CMAs can earn up to INR 15 to 20 lakhs per annum in manufacturing, financial services and consultancy firms.
Why Choose CMA?
CMA professionals are involved in the preparation of budgets, controlling of costs and planning of finances. They are useful in enhancing productivity and revenue in organizations due to their knowledge in the field.
4. ACCA (Association of Chartered Certified Accountants)
Overview
The ACCA qualification is recognized and valued in the global marketplace for accounting, finance and management. This course offers a broad curriculum that encompasses different areas of finance and accounting, which will equip students with the knowledge and skills required to work in different capacities in multinational organizations, financial institutions, and consultancy firms.
Why ACCA?
Global Recognition
ACCA is accredited in more than 180 countries, which means that you can work in any country of the world. This recognition opens up your career front a lot more on the international platform.
Comprehensive Curriculum
The ACCA syllabus includes financial accounting, management accounting, taxation, audit, and financial management, which is a great advantage.
High Salary Potential
Based on the current statistics, the ACCA professional can be paid from $50,000 to $70,000 as a starting pay. This tends to increase with experience and can easily exceed $100,000 for senior management positions.
5. CMA US (Certified Management Accountant)
Overview
The CMA US is a well-known certification program intended for accounting and finance specialists. This course is offered by the Institute of Management Accountants (IMA) and it covers areas such as financial management and strategic management, which are very important for students who intend to take up leadership positions in organizations.
Why CMA US?
Strategic Focus
The CMA US curriculum focuses on strategic management, financial analysis, and decision making, making it suitable for individuals who want to advance to the managerial level.
High Demand
CMAs are highly sought after in various industries such as manufacturing, technology, and healthcare because of their capacity to improve organizational performance.
Lucrative Salaries
Newcomers in the field of CMA can anticipate to be paid between $60,000 and $80,000 per annum. As the years go by and as the responsibilities increase, the pay can go up to $120, 000 per year.
6. CFA (Chartered Financial Analyst)
Overview
The CFA charter is among the most recognized certifications in the finance industry. Offered by the CFA Institute, this course is for investment management professionals and covers topics like investment analysis, portfolio management, and ethics. Work experience is also required in order to become a charter holder and the minimum required hours are 4000.
Why CFA?
In-Depth Knowledge
The CFA program is famous for its tough syllabus that comprises of different areas of study such as equity, fixed income, derivatives, and other investment options.
Prestige and Recognition
CFA charter holders are highly valued in the financial industry, and many people regard them as the best investment professionals in the world.
High Earnings Potential
The holders of the CFA charter can earn very attractive remuneration packages. The starting pay grade ranges from $70,000 to $90,000, while the senior employees, especially those in key financial cities, can earn more than $150,000 per annum.
