There are a good number of career roles available after M.Com. The M.Com students are hired in different job roles across various sectors. There are ample job opportunities available after M.Com.
The present article tries to explain some of the important job roles available after M.Com course.
Chartered Accountant
The Chartered accountants are responsible to give advice, audit accounts and provide trustworthy information about the financial records of an organisation or individuals.
Role of the Chartered Accountant:
The chartered accountants are also involved in different areas like financial reporting, taxation, auditing, forensic accounting, corporate finance management, business recovery and insolvency, accounting systems and processes.
The Chartered Accountants work in a range of organisations that includes public firms, private organisations, non-profit organisations, NGOs, schools, colleges and universities, etc. The main aim of the Chartered Accountant is to work strategically and maximise the earnings and profits on behalf of the clients or employers.
Responsibilities of a Chartered Account:
As the Chartered Accountant one is responsible to:
- Manage financial systems
- Undertake financial audits of the clients or the organisations
- Provide proper financial information and advice for the clients or the employers
- Maintain accounting records and prepare accounts and management
- Advise the organisations on major business transactions such as mergers and acquisitions
- Generate annual financial reports of taxation for the individuals and organisations
- Produce reports and recommendations for business improvements based on the internal reports of audits or public sector audits
Salary and Emoluments
The fresh M.Com students will be easily earning around 8 lakhs to 10 lakhs per annum as a Chartered Accountant. The experienced professionals will be earning around 10 lakhs to 20 lakhs per annum.
Actuarial Analyst
The actuarial analysts mainly use statistical formulas to assess the risk especially in life insurance companies. They are responsible to make computational analysis of the clients based on their age and health condition to determine the premiums for various policies offered by the organisation.
Role of Actuarial Analyst
The actuarial analysts basically work in insurance companies. They use specialised computer softwares and their expertise to finalise the premium amounts for the clients.
Responsibilities of an Actuarial Analyst
The actuarial analysts have certain responsibilities to handle in their organisations, they are:
- Understand and use complex mathematical formulas especially in the areas of advanced statistics and modelling
- Use the spreadsheet or sophisticated computer softwares to complete data analysis and generate readable reports
- Provide technical support to the team of fellow actuaries for producing statistical reports and analysis
- Generate readable reports for the results obtained, based on computations and observations so that common individuals can understand
Salary and Emoluments
The fresh M.Com students will be easily earning around 6 lakhs to 8 lakhs per annum as an Actuarial Analyst. The experienced professionals will be earning around 8 lakhs to 15 lakhs per annum.
External Auditor
External Auditors combine first-rate people skills with a high level of attention to detail to help business of all types and sizes to achieve their performance potential
Role of an External Auditor
As an external auditor one is required to examine financial records and other data to provide businesses, their investors and market regulators with a clear picture of how they are performing. He/she is also responsible to make recommendations for improvements.
Responsibilities of an External Auditor
As an external auditor one is needed to:
- Visit client locations and interact with different levels of management to understand the business and their needs
- Plan, carry out and in some cases design bespoke audit procedures and tests
- Attend meetings and interview staff to gather audit evidence
- Examine accounts, financial records and other documentation
- Observe stock takes and business procedures
- Use analytics to assess financial reporting fraud or operational business risks
- Prepare or contribute to a final audit report, including making recommendations for improvements to systems or processes
- Discuss the conclusion and recommendations of the audit with clients
Salary and Emoluments
The fresh M.Com students will be easily earning around 5 lakhs to 7 lakhs per annum as external auditors, the experienced professionals will be earning around 7 lakhs to 9 lakhs per annum.
Business Advisor
A business advisor is one who has genuine interest in supporting business and the ability to use the experiences that are gained in the profession across a range of specialisations.
Role of a Business Advisor
As a business advisor one will provide information, support, coaching, advice and guidance to business clients like individuals or huge organisations. As a business advisor one is responsible to provide support for a business to grow, scale up, change or diversify their business model.
Responsibilities of a Business Advisor
As a business advisor one is needed to:
- Possess an in-depth understanding of the business support landscape and the ability to advice businesses on the range of options available
- Undertake diagnostic needs assessments with businesses including analysing the needs of the business and working with the client to put a business action plan in place
- Develop a professional network of associates who can provide a broad range of business and enterprise
- Build positive relationships with clients, partners, associates networks
- Have excellent mentoring and coaching skills
- Attend meetings with networks and associates to ensure you keep up to data with global, national, regional and local business support initiatives to ensure your client benefit
- Undertake research on behalf of a business
- Communicate with clients, networks and associates
- Provide start-up business with advice and guidance for assist
- Organise and deliver business networking events and business education seminar and workshops
Salary and Emoluments
The fresh M.Com students will be easily earning around 4 lakhs to 6 lakhs per annum as business advisors. The experienced professionals will be earning around 6 lakhs to 8 lakhs per annum.
Concluding Lines
There are ample job opportunities for M.Com students across different sectors. The last decade saw a steep increase in the demand for skilled commerce students. The M.Com students are also highly paid and are also given good career growth opportunities in the field.
The students with passion towards commerce can join the M.Com course and earn a decent salary.