Commerce with Mathematics can be awesome combination in today’s economic scenario especially is an economy like ours. In this article I am trying to not only just provide options but also some real good courses and colleges they are available in.
1. Economics – Business Analyst, Risk Management etc. Economics can lead one to various fields like Economic Analyst, Business Analyst, Statistical Analyst, Business Risk, Risk Management, Operations Research Analyst, Budget Analyst and many more. The scope for economics in huge both in India & Abroad. Courses to look forward to are: BSc Economics available at various universities including Symbiosis Pune & Narsee Monjee Mumbai. For both Symbiosis & Narsee Monjee, entrance test is conducted usually in May/June of the year of admission, followed by Personal Interview.
2. Actuarial Science
The field of study dealing with the analysis of risk across various fields, such as insurance, business, finance, and healthcare. The people working in this field are called Actuaries. Working with statistics, financial theories and mathematical algorithms, Actuaries conduct risk-benefit analysis due to various unforeseen situations and then study their impact on the overall business. This career involves long working hours and is not so easy to get into. However, this is one of the highest paying fields.
Actuaries work with investment firms, consulting companies, life insurance and general insurance companies, pension agencies, government agencies, rating agencies like CRISIL etc. To become an Actuary one needs to clear the ACET ( Actuarial Common Entrance Test ) and post clearing the entrance one needs to register with The Institute of Actuaries of India or IAI. The best way to pursue Actuarial Science is postcompleting B.Com(Hons), Statistics or Maths (Hons.)
3. Business Management – BBA/BMS
BBA, BMS, BBE, BBM, BBS & LAW are most common programs applied by students graduating out of high school.
- BBA (Bachelor in Business Administration)
- BMS (Bachelor in Management Studies)
- BBE (Bachelor in Business Economics)
- BBS (Bachelor in Business Studies)
- BBM (Bachelor in Business Management)
These courses are available in some of the popular colleges in India:
- Sukhdev College of Business Studies, Delhi
- Narsee Monjee, Mumbai
- Symbiosis, Pune
- Christ, Bangalore
- Xavier’s
- IIM – Indore (Integrated Program in Management)
- Law programs in NLS and various NLU
For the best BBA, BMS, BBM programs of top colleges the admissions is mostly
through entrance tests, group discussion and personal interview.
The major entrance tests are:
- DU JAT
- Symbiosis SET
- Narsee Monjee NPAT
- Christ CET
- Xavier’s ET
- IIM Indore – IPMAT and others
4. Chartered Accountancy
CA by far is one of the most common career paths for students with commerce. Simply put it is a professional certification recognized globally and certified by ICAI. As a professional CA one can work with big Audit & Consulting companies, investment firms or even start your own practice. After your 12th standard, you need to go through the following steps to become a Chartered Accountant:
Step 1: Register yourself with the ICAI, and clear the Competency
Professional Test (CPT).
Step 2: Clear the Integrated Professional Competence (IPC) Course Exam in
one or both groups.
Step 3: Undergo article ship for 3 years under a practicing C.A or a C.A firm.
Step 4: After or during the completion of your article ship, clear the C.A Final
to gain your C.A certification.
5. Company Secretary
Like CA, another professional certification available for commerce students is CS which is certified by ICSI. Typical job role of a CS is to foresee effective and efficient administration of the company and ensuring that all legal and statutory compliances are met. Their job also includes giving suggestions and advice for business, dealing with financial reports, developing corporate strategies, avoiding conflict of interests and advising the company on the prevalent company’s law.
There are 3 stages to be a CS:
- Foundation
- Executive
- Professional
After completing the Executive Program one has to compulsorily undergo a
practical training for a period of 15 months.
6. Statistics
Statistics is the field of study which involves working with data collection,
interpretation and analysis using statistical theories, representation of charts and
data. Statistics and Statisticians are widely used in both public and private sector
and they are the key people involved in decision making and policy making.
Statistics allows one to work across industries and can be a highly rewarding career.
Career Path generally includes doing a BS/BSc Stats followed by MA/MSc Stats.
Top colleges to study Statistics in India are:
Indian Statistical Institute (ISI); Hindu Colleges, Delhi; Lady Shri Ram College (LSR),
Delhi; Ramjas College; Delhi; St. Xavier’s College, Mumbai; Fergusson College,
Pune; Mount Carmel College, Bangalore; Madras Christian College, Chennai
7. Banking & Finance
If India has to remain the growth leader for the world then few industries will surely
be the place to be and one such is Banking & Finance. One can look at doing MBA –
Banking & Finance after completing Bachelors in Commerce or Bachelors in
Economics.
One can even do BFIN (Bachelor in Finance) or BAF(Bachelor in Accounting &
Finance)
8. Stock Markets/ Mutual Funds
After 10+2 in commerce with Maths, followed by BSc Economics one can look at
taking up a career with Stock Markets and Mutual Fund Companies as Technical
Analyst, Growth Analyst, Stock Market Analyst, and even Trade Expert.
The usual course is doing the Certification programs from National Stock Exchange
and other such bodies. One can even pursue BFM ( Bachelor in Financial Markets )
9. International Certifications like ACCA, CFA (Chartered Financial Analyst)
USA
These certifications can also provide a growing career opportunities. I will write in
details about both ACCA and CFA in my next chapter.