Gone are the days where people used to be in a mammoth myth that commerce stream doesn't allow a promising career. Rather, the changing scenarios around the world in the realm of economic activities, selecting the Commerce stream as a career option is one of the best to grab. Commerce students are familiar with the business, trade, market flexibility, economic foundations, financial policies, industrial policies, stock markets, etc.
The Commerce field has an abundance of opportunities that offer an attractive pay bundle to meriting candidates. Although, salary should not be the motivating factor to enter a profession. But we cannot deny that money can be the catalyst factor for most individuals to enter any field. With regards to the high salary in the field of commerce, we have provided some of the highest paying promising career options-
● Chartered Accountant (CA)
CA is one of the coveted degrees that offer the highest pay scale in India. CA's are specialized professionals in accounting, auditing, and taxation. The CA operates as a corporate custodian and holds a respected position in the corporate world. The demand for CAs is increasing at an unprecedented rate. According to PayScale, the average base salary for a Chartered Accountant in India is ₹795838. The salary of a CA keeps on increasing based on knowledge and experience.
● Company Secretary (CS)
CS is a well-paid job option because of its versatile nature. A CS coordinate between various departments ensures compliance with company legislations and advises directors on statutory requirements of the company. Apart from this, CS also oversees finance, accounts, legal, human resources, and administration. According to Glassdoor, the national average base salary for a Company Secretary is ₹6,34,778 in India.
● Cost and Management Accountants (CMA)
CMA keeps a record of cost accounts, audits corporate expenses, certifies import and export documents under the Exim Policy, acts as executor, administrator, receiver, and ratepayer. The CMA assists strategic decisions regarding the various economic activities of the organization. The CMA assists in strategic decisions regarding the various economic activities of the organization. According to PayScale, the average base salary of a CMA is Rs 5,75,700 in India.
● Chartered Financial Analyst (CFA®)
Chartered Financial Analysts apply their expertise in distinct areas of financial research and hedge fund, portfolio management, investment consulting, investment banks, investment management, global finance, and research. Career opportunities for CFAs with IT skills have increased manifolds. According to PayScale, the average base salary for a Chartered Financial Analyst (CFA) in India is ₹684047.
● Certified Public Accountant
CPA is very similar to the work of Chartered Accountancy, but this course is offered by the American Institute of Certified Public Accountants (AICPA). Therefore, the CPA has a global appeal. Students wishing to obtain a CPA degree must have a bachelor's degree in Business Administration / Finance / Accounting and must complete 150 hours of study. The CPA regulates taxation, auditing, reporting, and census procedures and organizations. It is one of the jobs in the high-income commercial sector that leads to commercial broadcasters who can offer you financial security. According to PayScale, the average base pay for a Certified Public Accountant (CPA) in India is ₹692481.
● Actuarial Science
Actuarial Science is an application of statistics, computers, and mathematics to predict uncertainty and risks. Actuarial science is used widely in insurance sectors and in organizations where risks are calculated, cost and benefit measures are involved, design and policy planning are involved, etc. According to PayScale, the average base salary for an Actuary in India is ₹1017365.
● Investment Banking
Investment Banking is a profitable field with high-paying salaries. According to PayScale, the average base salary for an Investment Banker in India is ₹942390. Investment Bankers help corporates, and the government to create their capital. Investment banker helps the client to assess decisions related to merging, acquisition, selling, and investment by analyzing the risks and profit associated with the project/business. Individuals with just a Bachelors's Degree in Finance can earn a six-figure salary and often called a high-risk-high-pay job. In addition, it seems like a stepping stone for more lucrative career options such as Venture Capital and Wealth Management.
● Data Science
According to Forbes 'Data is growing faster than ever, and by the year 2020, about 1.7 megabytes of new information will be built every second for everyone in the world. In each field, whether it's communication, management, health care, gambling, financial services, search recommendations, etc data are required. So if you are someone who has a knack for numbers, statistical tools, machine-learning skills, coding skills, and can manage to work with unstructured data, then this is the right job for you. According to PayScale, the average base salary for a Data Scientist in India is ₹822895.
● Management Consulting
One of the preferred careers in the commerce stream due to high remuneration and professional learning. According to PayScale, the average base salary for a Management Consultant in India is ₹1167704. Many organizations take the help of management consultants mainly regarding how to grow their business? How to improve their performance in terms of profit, efficiency, etc.
● Retail Manager
Retail managers assist in the management of supermarkets as per business principles. The job of a Retail Manager is to run a successful sale/store. They may need a degree in Retail Management. They monitor and manage all aspects of the day-to-day operations of stores, including sales, staff, inventory, and resource management. They need to get acquainted with product philosophy and advertising. They should use clever marketing strategies to entice customers to purchase products at the store. According to PayScale, the average base salary for a Retail Manager in India is ₹623239.
These are the most popular/most popular fields in the Commerce Stream. However, opportunities are not limited to this. There are many other options available that offer high remuneration, like tax, Audit, Government jobs, etc.
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