One of the biggest things a person wants in a career is a fair salary. If the pay isn’t sufficient, your job wouldn’t feel satisfying enough. Money is an excellent metric to determine whether a particular field would be suitable for you or not. If you’re an MCom graduate, then you’ll find this article quite helpful.
We’ll discuss the MCom salary for the highest-paying jobs along with the average pay of different MCom specializations. This way, you can make better-informed career decisions, plan your future accurately, and avoid all kinds of confusion. Let’s begin:
What is M.Com?
Before knowing your options for jobs after m.com and salary let’s understand what m.com is, what it comprises, and M.com salary per month.
M.Com, or Masters of Commerce, is a two-year post-graduate degree created for people interested in working in the accounting, business, banking, and insurance industries. The two-year degree program delves deep into B.Com. topics like revenue, capital, taxes, and economic mechanisms. The M.Com course covers a wide range of topics, preparing students for success in a variety of fields. If commerce students take certain short-term courses from reputable universities, they will have access to highly profitable and exciting job prospects in relatively new but booming industries like FinTech and blockchain.
Since M.Com is a specialized field, only those with a B.Com or B.Com (H) degree may apply. For those interested in CA/CS, an M.Com degree is another option you can choose. The M.Com course provides a great return on investment with a high M.com jobs salary. Thus, students may find it to be a wise investment.
A professional degree in M.Com works in almost every business, though this gives candidates more alternative jobs after m.com and salary. Every corporate or top business organization needs highly qualified commerce graduates to work in various capacities in its finance, accounting, and business divisions. M.Com degree holders are typically hired by banks, consultancies, and auditing organizations for a variety of positions.
As per Naukri.com, there are more than 15096 job openings for M.Com graduates. Furthermore, according to data from monsterindia.com, there are roughly 4656 job openings in India for M.Com grads.
The average M.Com salary in India per month is somewhere between INR 1 to 1.7k. With this degree, you can apply for public and private jobs, ensuring a high M.com jobs salary.Â
M.Com Salary in India: Based on Specialization
Your specialization affects your pay significantly. The salary of MCom graduates varies substantially according to their specialties. In the following points, you’ll see how much different MCom specializations earn on average in India:
MCom in Finance
If you want to pursue a career specifically in the finance industry, then the MCom in finance specialization would be perfect for you. The average salary of MCom graduates specialized in finance is INR 5.17 Lakh per year.
Popular roles that require this qualification are Financial Analyst, Finance Manager, Accountant, and Relationship Manager. The starting salary for professionals with MCom in Finance is INR 1.43 Lakh per year. However, your pay can go up to INR 20 Lakh per annum with more experience and skills.Â
(Source)
MCom in Information Technology
You can enter the tech sector by specializing in Information Technology in your MCom degree. It would help you in pursuing leadership roles and financial roles in the tech industry. Popular jobs for MCom with Information Technology specialization are Animator, Account Administrator, and Administrative Manager.
Job opportunities after M.com and salary skyrockets once you complete M.Com. The average salary for this specialization is INR 4.2 Lakh per year. The great thing about this degree is it offers you the flexibility of financial and technical knowledge.Â
(Source)
MCom in Marketing
The marketing sector is ripe with opportunities. As the market grows, the demand for marketing experts grows accordingly. With an MCom specialized in Marketing, you can bag many marketing and management roles such as Area Sales Manager, Office Manager, and Digital Marketing Manager.
The average MCom salary for this specialization is INR 3.92 Lakh per year. The salary for this qualification goes up to INR 10 Lakh per annum. You can couple an MCom in Marketing degree with a digital marketing course to pursue well-paying roles in the marketing sector.Â
(Source)
MCom in Supply Chain Management
Supply chain management is the domain of managing the flow of goods (and services). It handles the movement and storage of raw materials, finished goods, and order fulfillment. In simple words, supply chain management covers the entire production flow. It covers everything from raw material to the point of consumption.
Supply chain management offers many lucrative careers, and it’s undoubtedly an excellent specialization for MCom. The average MCom salary with supply chain management specialization is INR 11 Lakh per year. Popular jobs for this qualification are Purchasing Assistant and Administrative Associate.Â
(Source)
MCom in International Business
A popular stream among MCom students is International Business. You can find many high-paying roles in significant corporations through this degree. Typical roles for MCom graduates with International Business specialization include Bank Officer, Financial Manager, Accounts Payable Specialist, etc.
The average MCom salary with International Business specialization is INR 5.1 Lakh per year. As a beginner, you can expect to earn around INR 1.98 Lakh per year. On the other hand, the upper limit for such professionals is around INR 40 Lakh per year. You can easily earn a handsome salary through an MCom in International Business.Â
(Source)
MCom in Human Resource Management
Human Resource Management is another prevalent specialization for MCom students. HR Management focuses on managing people such that they help their organization in gaining a competitive advantage. It aims to enhance employees’ performance through various measures.
You can pursue many leadership and management roles through this specialization. The average salary of MCom graduates with Human Resources Management specialization is INR 3.44 Lakh per year. Typical jobs requiring these qualifications are Accountant, Office Manager, and Operations Manager.Â
(Source)
Read more:Â Career Options after M.Com
MCom in Financial Analysis
As businesses get more data-driven, the demand for professionals skilled in utilizing data is continually growing. MCom, with a specialization in Financial Analysis, focuses on using data to help companies make better-informed decisions.Â
The average salary of MCom graduates with Financial Analysis specialization is INR 6 Lakh per year. This degree enables you to pursue many lucrative roles in the finance sector, such as Financial Analyst, Corporate Analyst, and Financial Accountant.
You can get higher-paying and more advanced roles in this sector by getting a data science certificate. It would allow you to add more technical skills and expertise to your CV, which would help you stand out.Â
(Source)
Jobs With The Highest Paying MCom Salary in India
Prospects are excellent after earning an M.Com. According to the candidate’s area of interest, M.Com offers a variety of specializations, including M.Com in Finance, M.Com in Financial Management, and M.Com in Business Management while M.Com salary in India per month lies on a higher end as well. Numerous positions, including those as an accounts assistant, financial consultant, business analyst, management consultant, auditor, chief information officer, etc., are open to M.Com graduates in both the public and private sectors. An M.Com graduate might anticipate a starting income of INR 3.26 LPA, as per Payscale.
Now that you know the difference in pay of various MCom specializations, let’s talk about the best jobs for MCom graduates. Knowing which jobs pay the best will help you make smart career decisions. Let’s begin:
Chartered Accountant
One of the most popular career choices among MCom graduates is Chartered Accountancy. A Chartered Accountant helps businesses in handling their books and accounts. They are responsible for all the financial reports an organization generates. They have to review those reports and tabulate the organization’s finances.
Apart from the organization’s total finances, Chartered Accountants find how much revenue their organization is generating and how much each department costs to run. They share this information with the organization’s management that makes decisions accordingly.Â
To become a Chartered Accountant in India, you must complete a three-tier exam held by the ICAI (Institute of Chartered Accountants of India). Apart from the exams, you must complete an articleship of 2.5 years. You can sit in this exam right after high school. However, the CA exam is one of India’s toughest exams, so you’ll need a lot of preparation and dedication.
The average salary of a Chartered Accountant in India is INR 7.87 Lakh per year.Â
(Source)
Certified Public Accountant
Certified Public Accountant (CPA in short) is another popular career choice among MCom graduates. CPAs are responsible for handling the accounting and reporting the audit processes for corporations, governments, or individual clients.
They review their organization’s financial performance, prepare their necessary documents, and ensure that the organization stays up-to-date on modifications in government regulations. You can become a Certified Public Accountant by getting a CPA license from the American Institute of Certified Public Accountants (AICPA in short).
They hold an examination which you’ll have to pass to obtain this license. You should be familiar with Generally Accepted Accounting Principles and have a strong grasp of the accounting subject.Â
It offers an excellent MCom salary to professionals. The average salary of a CPA in India is INR 7 Lakh per year. Freshers earn around INR 1.7 Lakh per annum in this field. You should note that CPAs with more than ten years of experience earn around INR 15 Lakh per annum on average.Â
(Source)
Also Read:Â Highest Paying Jobs in India
Company Secretary
After M.com, there are many jobs with good salaries. One such job is Company Secretary. A Company Secretary handles the legal compliance of private and public sector companies. They look after the regulatory requirements of their clients. They do so by assisting the directors and helping them meet all the regulatory issues; this way, they ensure that the company works within the legal bounds.
Company Secretaries hold board meetings, review materials, set agendas, and ensure that the material is accurate before it is distributed to the board. To become a Company Secretary in India, you would have to complete a CS course.
After that, you must go through 15 months of training. Once you complete the practical training, you’ll become an Associate CS and get an ICSI membership. ICSI stands for the Institute of Company Secretaries of India. Currently, ICSI has more than 62,000 members in the country.Â
The average salary of a Company Secretary in India is INR 5.89 Lakh per year. It starts from INR 2.95 Lakh per annum and goes up to INR 10 Lakh per year. Your income in this field is directly proportional to your experience. Company Secretaries with more than 20 years of experience earn around INR 22 Lakh per year.Â
(Source)
Financial Analyst
One of the best jobs after M.com with a good salary is being a financial analyst. Financial Analysts are those who work in banks, financial and NBFCs, insurance companies, etc. They play a vital role in making the financial decisions of the company to get more profit. A financial analyst makes around INR 5 lakh per year.
Finance Manager
The financial well-being of the business is the responsibility of the financial manager. They gather data, evaluate it, and then submit profit-maximizing ideas to senior management. Financial managers need a variety of capabilities, including leadership, analysis, communication skills, etc. A financial manager makes around 12 lakh per year based on years of experience.
Relationship Manager
A relationship manager is an expert who works to build and maintain great client relationships. They essentially recommend goods and services based on customers’ needs. The average salary of a relationship manager is INR 3.60 lakh per year.
Accounts Administrator
These are professional people who create invoices, manage records and receipts, evaluate and reconcile accounts, and perform accurate bookkeeping. An accounts administrator makes around INR 5.55 lakhs per year.
M.Com Jobs in Private sectors
After M.com jobs and salary in the private sector provide candidates with numerous opportunities to pursue their areas of interest. According to Payscale, the average pay for an M.Com degree in India ranges from INR 3.90 L to 12 LPA. For your convenience, the top job profiles are listed below.
Risk Analyst
Professionals that detect financial and organizational risks are known as risk analysts. These analysts evaluate the risk associated with proposed mergers and acquisitions or other business ventures and how to deal with it. The average salary of a Risk Analyst is INR 6 lakh per annum.
Management Consultants
Management consultants are specialist experts who support businesses in problem-solving efforts aimed at enhancing operational effectiveness to reach optimal growth and return. The average salary of a Management Consultant is INR 7 lakh per annum.
Stockbroker
Stock brokers are experienced people with experience in buying and selling stocks for a fee or commission. Their average salary is somewhere around INR 12 lakh per annum. After M.com jobs and salary under reputed brand name tends to be higher, so make sure you apply to a leading firm,
Investment banker
Investment bankers are experts that generate business for the organization and work to raise funds for the corporation using their financial knowledge and analytical abilities. The average salary of an investment banker is INR 10.50 lakh per annum. M.com salary per month for investment bankers tends to get higher with growing experience.Â
Final Thoughts
Apart from the careers we discussed above, there are many jobs for MCom graduates that you can pursue according to your interests. We have a dedicated list of best career options after M.Com on our blog. You can check that out if you want.Â
While selecting a career, you should always keep in mind that your passion comes first. If you’re passionate about something, you’d easily get ahead in that field. On the other hand, if you lack interest and are forcing yourself, then that job might become a burden on you.
How can one get admission to M.Com.?
In general, a candidate to pursue M.Com. must have completed a B.Com. or a B.Com. Honours in whichever field of specialisation. However, some universities consider graduates from any field to be eligible. The aggregate per cent required to be competent is 50%. The must-have percentage varies from institution to institution. It may be higher in some colleges, while no such condition may be there in others. After deciding on the area of specialisation, one has to deposit the fee accordingly. The annual course fee stretches from INR 10,000 to INR 1,00,000, depending on the institution. However, the actual expenses of the course may go up subject to the place of education.
What specialisations are available in M.Com.?
M.Com. stands for Master’s of Commerce, but its specialisations are not limited to conventional commerce subjects. Accounting & finance, banking & finance, business management, business policy and corporate governance, computer application or IT, and e-commerce are a few common specialisations. However, students are also turning to the subjects of economics, foreign trade management, global business operation, international business, marketing, mathematics/statistics, taxation, and supply chain management. Domains like human resource management are also gaining popularity. One can face the drawback that not all institutions offer all the specialisation fields. The decision to choose the major should be intelligent and based on the available options at a place convenient to you, both in terms of finance and commute.
What fields can be explored after the completion of MCom?
A decrepit person, after MCom has seen and therefore will suggest doing a job in banking and insurance sector, or at the maximum as an accountant at any company. Gone are the days when the world was limited with options and opportunities. An M.Com. graduate can explore any job related to accounts, but one is not limited to it. Business analyst, executive secretary, finance consultant and analyst, HR & admin department manager, investment banker, marketing manager/analyst, researcher, risk analyst, lecturer, and many more, are the career options open to an M.Com. graduate.
How can one get admission to M.Com.?
In general, a candidate to pursue M.Com. must have completed a B.Com. or a B.Com. Honours in whichever field of specialisation. However, some universities consider graduates from any field to be eligible. The aggregate per cent required to be competent is 50%. The must-have percentage varies from institution to institution. It may be higher in some colleges, while no such condition may be there in others. After deciding on the area of specialisation, one has to deposit the fee accordingly. The annual course fee stretches from INR 10,000 to INR 1,00,000, depending on the institution. However, the actual expenses of the course may go up subject to the place of education.
What specialisations are available in M.Com.?
M.Com. stands for Master’s of Commerce, but its specialisations are not limited to conventional commerce subjects. Accounting & finance, banking & finance, business management, business policy and corporate governance, computer application or IT, and e-commerce are a few common specialisations. However, students are also turning to the subjects of economics, foreign trade management, global business operation, international business, marketing, mathematics/statistics, taxation, and supply chain management. Domains like human resource management are also gaining popularity. One can face the drawback that not all institutions offer all the specialisation fields. The decision to choose the major should be intelligent and based on the available options at a place convenient to you, both in terms of finance and commute.
What fields can be explored after the completion of MCom?
A decrepit person, after MCom has seen and therefore will suggest doing a job in banking and insurance sector, or at the maximum as an accountant at any company. Gone are the days when the world was limited with options and opportunities. An M.Com. graduate can explore any job related to accounts, but one is not limited to it. Business analyst, executive secretary, finance consultant and analyst, HR & admin department manager, investment banker, marketing manager/analyst, researcher, risk analyst, lecturer, and many more, are the career options open to an M.Com. graduate.
