Commerce education is an area of education where the required knowledge, skills, and attitudes for handling trade, commerce, and industry are developed. The demand for Commerce education has grown rapidly helping the business society of India to meet all the growing needs. It is found that Commerce education plays an important role in contributing to Indian economic growth by providing opportunities in the fields of business, production, and consumption. That is why several institutions across India are open to removing the gap that exists between industry requirements and academic curricula focusing on attitude, corporate awareness, grooming, and developing managerial skills.
In India, Commerce education is offered at various levels for students. There are many public and private institutions to provide quality education in the field of Commerce which has a quite promising career for candidates. One of the main reasons behind choosing Commerce as a career option is the wide range of opportunities related to media.
Students interested in this field can opt for a Bachelor of Commerce degree which has various specializations. After 12th, students who are determined to be successful in the field of Commerce should have a clear knowledge of different variants and specializations of the stream. So, here are a few specializations of Bachelor of Commerce that open doors for students toward a promising career. This is a three-year undergraduate program.
BCom in Accounts and Finance
BCom in Economics
BCom in Investment Management
BCom in Banking and Insurance
BCom in Financial Market
BCom in Computer Applications
BCom in Statistics
BCom in Information Technology
BCom in Tourism and Travel Management
BCom in International Business
BCom in Banking and Finance
BCom in Accountancy
BCom in Banking and Insurance
BCom in Business Economics
BCom in E-Commerce
BCom in Foreign Trade Management
BCom in Taxation
BCom in Banking Management
BCom in Financial Market Management
BCom in Human Resource Management
BCom in Strategic Finance
BCom in Entrepreneurship and Business Management
BCom in Marketing and Retail Management
Apart from BCom, there are many other courses one can pursue after the 12th standard in Commerce. Other sought-after undergraduate commerce programs include the following -
BA in Economics
BBA in Banking & Finance
BBA in Marketing & Finance
BBA in Accounting Finance
BBA in Banking
Bachelor of Business Management (BBM) in Computer Application
Bachelor of Corporate Science
BSc in Banking & Finance
Bachelor of Business Studies
Bachelor in Financial Management
Candidates who have a business or finance-oriented mind and wish to pursue law can opt for BCom + LLB integrated course with a duration of 5 years. Besides this, there are also other integrated Bcom course options such as
Integrated BCom + MBA (Masters of Business Administration)
Integrated BCom + CIMA (Chartered Institute of Management Accountants)
Integrated BCom + ACCA (Association of Chartered Certified Accountants)
Integrated BCom + CMA (Certified Management Accountants)
In India, among various Commerce courses, Diploma courses also play an important role for students as it allows them to get essential skills and adequate knowledge within a short span. Popular diploma courses in the commerce field include the following -
Accounting and Auditing
Banking and Finance
Finance, Budget, and Accounting
Advance Cost Accounting
Banking and Insurance
Financial Accounting and Taxation
In India, most organizations look for those professionals who hold dynamic personalities and specialized skills. To improve one’s skills, a certification course in Commerce can be done after completing BCom. Popular specialisations in BCom include the following -
Applied Managerial Economics
Financial Accounting and Taxation
In India, there are lots of institutions that provide full-time, part-time, and distance-learning programs in the field of Commerce. But choosing a good college can be a tough decision for students after 12th. Some of the eminent public institutions providing Commerce degrees are Loyola College, Chennai; Hansraj College, Delhi; Hindu College, Delhi; and Lady Shri Ram College For Women, Delhi. In addition to this, there are lots of private colleges which provide quality education in the area of Commerce. A few of those private institutions are Christ (Deemed to be University), Bengaluru; St. Joseph's College of Commerce, Bengaluru; and Symbiosis College of Arts and Commerce, Pune.
Every year, the National Institutional Ranking Framework under the Ministry of Human Resources and Development, the Government of India publishes a ranking of all the colleges all over India. The colleges enlisted in the NIRF India rankings offer a comprehensive idea of the different facets of the college. Here are some of the top NIRF-ranked commerce colleges in India-
To empower higher education institutions, there is a recognition scheme known as the Institute of Eminence (IOE) initiated by UGC. The Commerce colleges that are recognized as “Institutes of Eminence” are as follows -
Here are some of the basic eligibility criteria needed for admission. However, it varies according to the selected specialization as well as the institution.
Students should have completed class 12 or equivalent from any recognized board. Though students from any stream can apply for admission in BCom, some of the institutes give preference over candidates having Commerce in 12th. To be eligible for any kind of specialization course in BCom, candidates should have pursued the subject in 12th.
The minimum percentage for admission to BCom varies from institute to institute.
Some institutes conduct entrance examinations for shortlisting eligible candidates.
There are several institutions in India which provide admission based on merit. But some of the colleges conduct entrance examinations for admission. After cracking the entrance examination, shortlisted candidates have to clear the personal interview round. Some of the popular BCom entrance examinations in India are IPU CET, DUET, and BHU among several others.
Candidates should have secured 50% marks in 10+2 examinations from any recognized board. However, the eligibility criteria for Diploma and Certificate courses vary according to the institutions as well as specializations.
The admission procedure for admission in a diploma or a certificate course differs from college to college. Some institutes conduct entrance examinations to provide admissions and other colleges offer a direct admission process or a merit-based admission process.
The annual fees in Commerce colleges may vary depending on various factors like specialized courses, and infrastructure provided by particular institutions. Approximately, the annual fees for an undergraduate Commerce degree range anywhere in India from Rs. 30,000 to Rs. 2 lahks.
To be successful in the field of Commerce, students must have acquired some essential skills. Here is a list of the required abilities and skills that students should have to pursue a commerce course -
Critical and analytical thinking skills
Strong negotiation skills
Being one of the most prominent career fields, Commerce provides a multitude of job opportunities after the course. The average salary of professionals ranges from 2 lakhs to 10 lakhs annually. Career prospects after finishing Commerce programs include several lucrative job roles such as
Chartered Financial Analyst
Certified Management Accountant
Financial Risk Manager
Certified Financial Planner