The common scenario in the finance industry is that B.com graduates try for entry-level jobs and banking jobs. But those candidates with high marks go for professional courses like CA, ACS, CMA, and MBA. The terms like stock, insurance, securities, and investment grab the attention of the finance professionals for a dream job. In today’s dynamic market, entry-level jobs in finance are taken over by science and computer science graduates. So, especially it is not meant for finance graduates. The deceptive factor is that graduation is enough for finance professionals. If the goal of the student is to achieve high and sustain growth then it is good to hold professional qualifications like CA, CMA, ACS, MBA, and CFA. Let me see the entry-level jobs and professional jobs of finance professionals to bring the exact picture of the job market in India for finance professionals. The hasty decision which students make takes them to an unrelated course, a course with no practical knowledge, and delay in getting a job, and a job with less salary.
The course after commerce knowledge can be knowledge-based, skill-based, or operations based. B.com is a knowledge-based course. CA, ACS, and CMA educate the practical knowledge to the students. Diploma courses like PGDM, BSE banking and finance course, PGP in investment banking and capital markets, and actuarial science for insurance knowledge meant for job-oriented courses. In today’s world, companies are not looking for employees to run the business instead they look for candidates who increase the profit. The demand is not for the operational executives but it is for the auditors, cost accountants, and company secretaries. The job description for different positions in corporate companies requires different types of skills. Check about the long term goal individually and decide the course which is suitable for the inborn skill-set.
Entry-level jobs for finance professionals
As per the analysis of BLS, the growth with the financial operations and business is proposed to spike with a percentage of 5 percent from 2019 to 2029. B.com graduates with experience get a high salary if they do an MBA after getting job experience. Because the MBA is practical oriented training for entry-level professionals. B.com graduates can understand the numbers and logic behind the concepts. Financial analyst, Tax associate, accountant, investment analyst, personal finance advisor, and financial auditor are some of the entry-level jobs suitable for the B.com candidates. Finance is a highly competitive industry where non-finance graduates with minor finance qualifications excel in finance. Engineering graduates switch over to the finance profession with basic finance knowledge. In the entry-level jobs, employees take care of the financial records, use the statistical model, financial theories, and data systems.
Graduates with finance knowledge need not apply only to the traditional roles of monotonous work. They can change to jobs like financial analysts or data analysts that are in high demand recently. In general, candidates with low profile change their jobs 12 times during their full career lifetime. So, change is part of professional life. Entry-level jobs have high competition because of finance graduates and non-finance graduates.
Best career option for finance professionals
The dream of the commerce students is to settle in a well-established career that takes them to professional courses. After completing B.com, MBA is the course with specialization in business administration. To join the B-schools after the B.Com CAT mark come into the picture. Professional-level courses like CA, ACS, and CMA train the student at a young age. The biggest advantage in these courses is that it is not educating the static job experience but it is educating the dynamic responsibility of the pivotal role. The three stages of these professional courses are foundation level, intermediate level, and final level. The factors which differentiate the success of the students are the time availability, the price of the course, and the degree of difficulty. If the student wants to achieve big, then they need to start at a young age and do hard work continuously for a long period.
What is the difference between CA with B.com and CA without B.com?
B.com is not the entry point for CA. If the route of the candidate is through a direct route, then the foundation course is the entry point for the CA course. As B.com is a basic-level qualification, it is essential for government jobs like UPSC. For this reason, the students do B.com and CA side by side. It is not easy to complete B.com and CA in the same tenure. As the subject is the same in B.com and CA, the academicians guide the students for a better understanding of CA subjects. Topics like statistics, financial accounting, business law, business mathematics, auditing, income tax, economics, indirect tax, and financial management are the same for B.com and CA. B.com is the primary level, and CA is the advanced-level.
It is the discretion of the individual student to do basic graduation or professional course. But in the highly competitive world, a professional degree expands the career path of the students. As the subjects in B.com and CA are the same the hard work is not put to waste. The experience from CA helps in learning B.com with an advanced level of knowledge. The practical-knowledge taught during CA coaching is helpful to get a job in top companies. And the coaching help to secure high marks in the B.com graduation as well.