What is B.Com?
“A Bachelor of Commerce, abbreviated as B.Com is an undergraduate degree in commerce and related subjects. The course is designed to provide students with a wide range of managerial skills and understanding in streams like finance, accounting, taxation and management”.
The Bachelor of Commerce degree is designed to provide students with a wide range of managerial skills, while building competence in a particular area of business (see aside). Most universities, therefore, plan the degree such that in addition to their major, students are exposed to general business principles, taking courses in accounting, finance, business management, human resources, marketing, and economics; some programs also require (business) statistics, (introductory) calculus and information systems. Depending on the institution, a formal academic major may or may not be established. Regardless, a Bachelor of Commerce degree requires students to take the majority of their courses in business-related subjects, including the aside, among others.
Difference between B.Com and B.Com (Hons)
| B.Com (P)
|B.Com (H) is an undergraduate degree designed to inculcate business acumen in students.
||Similar to B.Com (H), the difference is that a student can specialize in a certain subject in B.Com (H), which is not possible in B.Com (P). In the latter, a student is given an overview of all the subjects taught in the honors course.|
|A student has the option to specialize in a specific subject like Accounting, etc.||A student cannot specialize in a specific subject.|
| The cut-off for various universities/colleges is relatively higher.
|| The cut-off for various universities/colleges is relatively lower.
The industry demand for the honors program under B.Com is much higher than the regular program. With the distinction between the two clear in your mind, it should be relatively easy to make your decision.
Generally, students are admitted in B.Com on the basis of merit. The merit is prepared on the basis of candidate’s performance in higher secondary examination. Some Universities also conduct the entrance test for admitting students. Besides candidate’s academic knowledge, some colleges conducts interview.
Candidates who wish to pursue MBA after the completion of B.Com have to appear the entrance test namely Common Admission Test (CAT), Management Aptitude Test (MAT), etc. Some institutions also organizes their own entrance exam for giving admission to their colleges.
Career, Jobs and Opportunities
Job opportunities exists right after the programme. Jobs for B.Com graduates exists in India as well as in abroad.
After completion of B.Com, you can apply in any organization for the post of accountant. Every company requires accountant to keep track the profit and loss of their company. One must have knowledge in areas like Basic Principles of Accountancy, Cost Accounting and Management Accounting to be an accountant. Other than accountant, there are many career options in this field.
You can also work as tax consultant after completion of graduation and can gain experience. Interested candidates can also apply in banking field. Every year, many private and government banks hires the fresh B.com graduates. Candidates can work in public as well as in private sector. You can apply for government jobs like bank, UPSC, etc.
The course also prepares the students for CA and CS. Chartered Accountant (CA) / Cost and Work Accountant (CWA) / Company Secretary (CS) are the advanced career options in this field.
B.Com graduates usually work under the following domains
- Actuarial science
- Business System Analysis
- Business economics
- Computers and Management Information Systems
- Decision Analysis
- Economics and Econometrics
- Electronic commerce
- Finance and Financial Markets
- Human Resources
- Industrial Psychology
- Information Management
- Labor Relations
- Logistics Management
- Management science
- Marketing and Communications
- Operations Management
- Organizational studies
- Politics and Public Policy
- Supply chain management
- Risk Management / Financial Risk Management
- Strategic Management
- Transport Economics
Higher studies in the field of Commerce (M.Com)
Individuals also have the option to pursue higher studies after B.com. They can apply for Master of Commerce (M.Com) or Master of Business Administration (MBA). M.Com is the postgraduate course focuses on commerce, accounting, management and economics-related subjects. The Master of Commerce includes 2 years of full-time study. After owning master’s degree, the job opportunities will increase.
Based on specialization, Candidates having M.com degree can find employment in financial services, marketing, project management. They also often work in general management and business consulting firms.
Later, candidates can do research program (Ph.D) in this field. They have the opportunity to apply for Doctor of Commerce (D.Com), Doctor of Business Administration (DBA), or a Doctor of Philosophy (Ph.D) degree programme. A student can also opt for LLB after B.Com. Business Law is one of the best option in it.
The graduates of Bachelor of Commerce are getting handsome salary package. However, salary of the candidates varies from department to department. Candidates having few years of experience may get lucrative pay.
Salaries depend on the nature of organization and type of job. “However, it ranges between Rs. 10,000 and Rs. 25,000 per month for a fresh hire.
The average salary of a CA in the company is around INR 5 lakh to 10 lakh per annum.