Commerce crossroads: Navigating your career with savvy courses

Many students opt for commerce either because they find science difficult or do not get admission in the pre-university/ Plus Two science stream. Barring a few interested in accounts or finance-related careers, most enter commerce with little knowledge or awareness. Most students are not taught commerce subjects up to Class 10 and are unaware of what they are getting into. B.Com feels like the only option, and no one knows what to do afterwards.

However, commerce has now gone beyond traditional accountancy, banking, and financial management into many fast-growing, well-paying sunrise fields with the potential for fast growth.

Accountancy and business studies are generally compulsory at the Plus Two level. One can select from a wide range of other subjects, depending on the school/college you seek admission to. Those good at mathematics can take up commercial mathematics to build a stronger foundation. Unlike science, you can select to study on any board in commerce, i.e., PUC, CBSE, ISC, IGCSE, or NIOS to get equally good education and opportunities.

Career options

Chartered Accountant (CA - icai.org), Company Secretary (CS - icsi.edu), Chartered Institute of Management Accountants (CMA - cima.com). Association of Chartered Certified Accountants UK (ACCA) - all these relate to accounting functions, whereas CS also involves legal work.

These professions require proficiency in calculations and analysis. Those with good people skills can opt for managerial openings with an MBA specialising in Finance, Business Analytics, banking, family business, systems, entrepreneurship, etc.

Besides the MBA, many specialised management courses at the postgraduate level, both degree and diploma, focus on financial management and related fields.

Actuarial science is a lesser-known field that entails evaluating assets for insurance purposes. Many courses specializing in this are available.

Sunrise industries include digital finance, AI-related financial management, merchant banking, health insurance and risk management, stocks and Mutual Fund Management, Commodity Trading—including Cryptos—e-commerce, and many other Fintech fields, the last one combining technology and finance.

While banking has been in high demand for decades, interestingly, many competent professionals are now quitting stable bank jobs and joining private companies in the above areas. Many banks have diversified into commercial activities.

Many commerce students use their studies as a foundation to move into human resources, marketing, business analytics, e-commerce, materials management, etc. Similarly, successful finance professionals are trending toward teaching as part-time adjunct faculty in business schools or becoming mentors for start-ups.

Someone with a commerce degree can explore unrelated but complementary fields such as law, mass communication, design, business administration, computer applications, economics, and business analytics, to name just a few. He can even pursue humanities and social sciences-related careers, which are steadily growing and offering good careers if the student has an aptitude for them and qualifies from a reputed college.

How to proceed

If you have come to Class 10 and are not interested in the great rush of JEE, NEET, etc., you can opt for commerce after doing homework to narrow down which area of commerce or non-commerce you will eventually move into. It will help you opt for commerce and choose the other two optional subjects, ranging from mathematics or computer applications to economics, statistics to history/ sociology, psychology or physical education, and other new subjects added yearly.

At the beginning of Class 11/ 1st PUC, list all possible degree courses you can choose from. Match them to your aptitude, interests, and personality traits, and start narrowing them down by exploring various courses and colleges.

You can visit the school or college where you will likely seek admission, meet seniors, and ask them about their long-term career goals. Doing an internship during the holidays, preferably in a small company, empowers you to make the right decisions regarding your higher studies.

(The author is an academic and career counsellor)

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