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Top Career and Scopes after B.Com Course


Top Career and Scopes after B.Com Course

Last updated: 17 Sep 2020

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There are ample number of job roles available for B.Com students in the industry. The job roles depend upon the specialisations chosen by them in their B.Com degree. 

The present article tries to explore a few job roles available after B.Com degree according to their specialisations.

Business Advisor

The business advisors are responsible to support businesses and the ability to use their own experiences across specialisms than a specific degree subject.

Role of a Business Advisor

As a business advisor one is responsible to provide information support, coaching, advice and guidance to business people. They are responsible to provide specialist services depending on their expertise.

Responsibilities of a Business Advisor

As a business advisor one is responsible to:

  • Possess an in-depth knowledge of the business support landscape and the ability to advise businesses on the range of options
  • Undertake diagnostic needs assessments with businesses, including analysing the needs of the business and working with the client to put a business action plan
  • Develop a professional network of associates who can provide a broad range of business and enterprise support services to the clients
  • Build positive relationships with clients, partners, associates and networks
  • Have excellent mentoring and coaching skills
  • Attend meetings with networks and associates to ensure you to keep up to date with global, national, regional and local business support initiative to ensure the clients benefit
  • Undertake research on behalf of a business
  • Communicate with client’s networks and associates
  • Provide start-up businesses with advice and guidance to assist them to successfully set up and commence trading
  • Provide tutoring on suitable business plans and cash flow plans
  • Organise and deliver business networking events and business education, seminars and workshops

Stockbroker

The stockbrokers are responsible to handle a fast-paced and challenging financial environment, using excellent communication, negotiation and analytical skills working as a stockbroker.

Role of a Stockbroker

As the stockbroker, one is responsible to buy and sell stocks and other securities for retail and institutional clients, through a stock exchange or over the counter in return for a fee or a commission.

Responsibilities of a Stockbroker

As a stockbroker one is needed to:

  • Keep up to date with the latest financial and tax legislation
  • Stay informed of the latest financial news to understand the movements in the market and the drivers of change
  • Carry out specific market research and analysis
  • Write reports and newsletters summarising the market research that is done
  • Proactively look for clients. Sell the services and manage the client relationships
  • Regularly update the clients at conference and networking events
  • Ensure and understand the client’s needs, enabling them to make appropriate suggestions for their investments
  • Be honest in providing information, including risks of the stock markets 

Mortgage Advisor

As a mortgage advisor one is required to use in-depth knowledge of the market to find clients mortgage products suitable for their needs. The mortgage advisors are responsible to advise them on the different pros and cons of each product and also help them determine how much they should borrow

Role of a Mortgage Advisor

As a mortgage advisor one is responsible to advise on mortgage prices in the markets for the specific product. They are responsible to connect the best deals for both sellers and buyers.

Responsibilities of a Mortgage Advisor

As a mortgage advisor one is responsible to:

  • Meet the clients in person either in personal or over phone
  • Explain the type or mortgage you handle
  • Find out the client’s financial situation, including what their monthly expenditure is  
  • Explain the types of mortgage and offer products for the clients to choose from
  • Assess which type of mortgage is most suitable for each client
  • Make sure your customers can afford what they are borrowing, not only now but in the future, in the event that interest rates go up or their circumstances change
  • Explain about repayments and mortgage protection
  • Advise on and sell related financial products such as holdings or life insurance
  • Help clients complete the mortgage formalities
  • Offer some general advice on the home-buying processes
  • Deal with mortgage lenders, estate agents and valuers
  • Keep up to date with new mortgage products and changes in mortgage regulations
  • Respect the client’s right to confidentiality
  • Follow strict industry rules and guidelines and ensure to give impartial and appropriate financial advice
  • Fully cooperate with any enquiry or investigation from the financial ombudsman if things go wrong and the client uses their right to protection

Retail Banker

The Retail bankers are responsible to help individuals to manage their money and provide advice and financial services and products

Role of a Retail Banker

As a retail banker, you will be involved in various areas such as assisting in the movement of money via payment mechanisms, authorising loans and overdraft facilities, setting up saving accounts and bonds.

Responsibilities of a Retail Banker

As a retail banker, one is needed to:

  • Managing, recruiting and coaching teams of people
  • Dealing with customer complaints that can't be solved by front-line staff
  • Implementing new products, services and processes devised by head office
  • Dealing with more complicated customer queries and requests, which may include reviewing their financial circumstances
  • Representing the bank within the wider community and building relevant contacts
  • Opening and closing the branch daily and ensuring that the premises are fit for business
  • Meeting sales targets and managing budgets
  • Writing reports and keeping financial and statistical records.
  • Dealing with customer queries face to face, over the telephone or in writing
  • Serving customers at the counter
  • Processing payments and withdrawals
  • Understanding customer needs, recommending suitable products and making sales
  • Processing paperwork from sales, including change of customer details and closure of accounts
  • Learning about new products, services and processes.

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

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 an 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 such as:

  • 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

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

Actuary

As an actuary; one will be learning the various techniques involved in analysing the data, evaluating the financial risks and communicating this information to the non-specialists. They normally work in insurance companies and they deal with insurance policy premium amounts for a customer.

Role of an Actuary

An actuary evaluates, manages and advises on financial risks in the insurance companies. They use their knowledge of business and economics together with their understanding of probability theory, statistics and investment theory, to provide strategic commercial and financial advice to their clients or organisations. As an actuary one will be using financial and statistical theories to assess the livelihood of a particular individual and their possible financial costs.

Responsibilities of an Actuary 

As an Actuary one is needed to:

  • Use mathematical modelling techniques and statistical concepts to determine probability and assess the risks such as analysing pension scheme liabilities to price commercial insurance
  • Analysing statistical data in order to calculate for example, accident rates for particular groups of people
  • Develop new financial products
  • Prepare presentations, reports, validations and quarterly updates
  • Monitoring risk within trading positions in investment banking to ensure excessive risks are not taken during the fast pace of trading
  • Advising on issues such as selection of investment managers or the administration of pensions and benefits
  • Working with mergers and acquisitions

Company Secretary

The company secretary works in a strategic and influential way to ensure that a company operates within the law and comply with the government regulations.

Role of a Company Secretary

As a company secretary one must ensure that the company complies with financial and legal requirements as well as maintaining its high standards of corporate governance. They are also required to provide legal advice to the company management.

Responsibilities of a Company Secretary

As a company secretary one is needed to:

  • Report the chairman and often coordinate with board members
  • Prepare agendas and papers for board meetings, committee and annual general meetings and follow up action on points
  • Take minutes, draft resolutions and lodge required forms and annual returns with companies
  • Ensure policies are kept up to date and approved by the committee
  • Maintain statutory books including registers of members, directors and secretaries
  • Deal with correspondence, collate information and write reports, communicate decisions for relevant company stakeholders
  • Contribute to meeting and discussions along with this they are also required to advice the members of the legal governance, accounting and tax departments of the implications of proposed policies
  • Monitor changes in relevant legislation and regulatory environment and take appropriate actions
  • Take responsibility for health and safety of employees and manage matters related to insurance and property
  • Develop and oversee systems that ensures the company complies with all applicable codes in addition to its legal and statutory requirements

Arbitrator

The role of arbitrator is growing continually as more people look for an alternative to traditional litigations. The arbitrators have genuine and often global, opportunities for work in recent years across the globe. The arbitrators are hired in large numbers by various companies across the globe and are delegated negotiating tasks with the stakeholders outside the ambit of courts. The tasks mainly include land acquisition, building acquisition, etc.

Role of an Arbitrator

Arbitrators work in alternative dispute resolution; arbitration is one way in which legal disputes are resolved outside the courts and across international boundaries. Arbitrators are used by many individuals and businesses on a voluntary basis in recent years across the globe.

Responsibilities of an Arbitrator

As an arbitrator one is needed to:

  • Write a notice of arbitration clarifying what is expected of the parties and specifying all matters of the dispute
  • Gathering the evidence from claimant and respondent
  • Organise and conduct arbitration meetings on hearings where both sides present their evidence
  • Summarising each side’s position in a written document
  • Interpreting and applying the relevant laws
  • Making decisions, resolving the dispute based on evidence and arguments submitted by both sides
  • Negotiate with stakeholders on behalf of the organisations

Investment Analyst

As an investment analyst one will need to adapt in researching and understanding the financial market and be able to communicate this information to others.

Role of an Investment Analyst

As an investment analyst one is required to provide research and information to help traders, fund managers and stock brokers, make decisions about investments. The information that is provided ensures investments portfolios are well managed and that potential opportunities are highlighted.

Responsibilities of an Investment Analyst

As an investment analyst one is responsible to:

  • Conducting due diligence on companies and industries by researching, reading financial statements and market data
  • Analysing financial information relating to specific companies like company results, profit & loss, balance sheet and cash flow statements to determine how an organisation is positioned to deliver for investors
  • Keeping up to date with market development, new investment products and all other areas that can affect the markets like movements in the resources or relevant countries
  • Considering how the economic implications of factors such as natural disasters, weather and wars might affect the performance of companies and funds
  • Monitoring the financial news using specialist media sources
  • Financial modelling and projection
  • Meetings with and providing information to fund managers this might include summaries of research, investment ideas, key events from the proceeding day as well as key drivers for the day ahead
  • Making recommendations to fund managers, being able to position ideas and articulate to the fund manager about the risk or payoffs for each recommendation
  • Ensuring that all compliance regulations are met 

Economist

As an economist one will carry out research and collect large amounts of information that covers every aspect of economic and social policy that affects the lives and businesses of many people in the real-world. 

Role of an Economics

The economists are responsible to advise various organisations including government agencies, economic consultancies, major companies, banks, financial institutions, education establishments and investment groups. The economics work on analysing the data obtained in different sectors of society such as energy, health, transport, public policy, international development

Responsibilities of an Economist

As an economist one is needed to carry out certain tasks such as:

  • Developing a variety of design methods and procedures for gathering data
  • Understanding various sampling techniques that are used to conduct different types of surveys
  • Creating and using econometric and other financial modelling techniques to develop forecasts
  • Carrying out background research and literature reviews
  • Analysing and interpreting the collected data to effectives of current policies, products or services and advice suitable alternatives
  • Explanation of the research methodologies and justify the conclusions based on the research data
  • Evaluation of the past and present economic situation and recommend proper solutions for the same

Financial Risk Analyst

The role of the financial risk analyst is to identify and analyse the areas of potential risk that threatens the assets and business of an organisation

Role of a Financial Risk Analyst

The financial risk analysts are responsible to predict the change and future trends along with the forecasting costs for the organisation.

Responsibilities of a Financial Risk Analyst 

As a financial risk analyst, one is typically needed to:

  • Make recommendations to reduce the control risk like an insurance strategy
  • Work with the traders to calculate the risk associated with some specific transactions
  • Monitor and forecast the market trends
  • Conduct researches to assess the severity of the risk
  • Conduct statistical analysis to evaluate the risk with the aid of sophisticated computer softwares
  • Review the legal documents of the organisation
  • Come up with new ideas via reports and presentations for improvising the business model of the organisation
  • Carry out quantitative and qualitative analysis at regular intervals in the organisation
  • Be aware of rules and regulations of the government and its effects on the company’s business modules
  • Develop contingency plans in case of emergency

Forensic Accountant

The role of the forensic accountant is to utilize the accountancy skills to investigate the financial frauds and disputes of an organisation.

Role of a Forensic Accountant

The forensic accountant is required to integrate different skills of accounting, auditing and investigation to uncover the information related to irregularities of an organisation.

Responsibilities of a Forensic Accountant

As a forensic accountant one is expected to perform certain duties like:

  • Extracting data form financial records
  • Creating and manipulating spreadsheets
  • Performing forensic research to trace funds and identify the assets for recovery
  • Conducting forensic analysis of financial data
  • Preparing forensic account reports from financial findings
  • Understanding the economic and legal implications of the fraudulent case

Business Analyst

As a business analyst one will be responsible to evaluate and analyse business data and create solutions for the problems. They work with a variety of people and are expected to have a good grasp of management and information technology.

Role of a Business Analyst

As a business analyst one will work in an organisation and help it to manage, change and plan for the future in line with their goals. They are required to understand the current organisational situation, identify the future needs and create solutions to help meet those needs. They are also responsible to analyse the business data and create solutions to address them effectively.

Responsibilities of a Business Analyst

As a Business analyst one is needed to:

  • Communicate with internal colleagues to understand the needs of departments and the organisation as a whole
  • Work with external stakeholders to understand and investigate feedback into the service, function or product provided
  • Use data modelling practices to analyse your findings and create changes
  • Consider opportunities and potential risks attached to suggestions made
  • Identify the processes and information technology required to introduce recommendations
  • Gain agreement, usually from senior management of the best method of introducing the recommendations to the business
  • Communicate the benefits of recommendations across the departments and help to address any uncertainty and concern
  • Ensure plans are made and processes are created to evaluate the impact of the changes made, including taking responsibility for overseeing and reporting on this evaluation

Business Development Manager

Business development managers are responsible to drive an organisation towards success by enabling them to earn profits for the products and services they provide. They are responsible to develop new business opportunities for an organisation and help it to grow better and yield better profits.

Role of a Business Development Manager

As a business development manager, one will be concerned with improving and growing a business by fostering and developing relationships with consumers, suppliers and other partners. They must work to improve profitability through careful strategic planning and positioning in the appropriate markets. Since they are the first-face of any organisation they have to be very good in promoting a product or a service and address the problems faced by the consumer.

Responsibilities of a Business Development Manager

As a Business Development Manager, one is needed to:

  • Identify new business opportunities-including new markets, growth areas, trends, customers, products and services
  • Seek out the appropriate contact in an organisation
  • Generate leads and cold call prospective customers
  • Meet with the customers/clients face to face or over the phone to promote the product or a service
  • Understand the needs of customers and be able to respond effectively with a plan of how to meet the expectations
  • Think strategically seeing the bigger picture and setting aims and objectives in order to develop and improve the business
  • Discuss promotional strategy and activities with the marketing management
  • Have a good understanding of the business products or services and be able to advice others about them

Corporate Investment Banker

As a Corporate Investment Banker, one is required to have a keen financial mind and also a clear understanding of how money is made and invested across different investment platforms

Role of a Corporate Investment Banker

As a corporate investment banker, one will provide a range of financial services to companies, institutions and governments. A corporate investment banker is responsible to manage the corporate strategic and financial opportunities like:

  • Acquisitions
  • Bonds and Shares
  • Initial Public offering (IPOs)
  • Lending 
  • Mergers
  • Privatisations

Responsibilities of a Corporate Investment Banker

As a Corporate Investment Banker, one is required to:

  • Thoroughly research market conditions and developments
  • Identify new business opportunities
  • Carrying out financial modelling the developing and presenting appropriate financial solutions
  • Coordinating with various authorities about finances and management of an organisation
  • Work with team of professionals, including accountants, lawyers and PR consultants on behalf of the management of an organisation

How much do B.Com students earn?

On an average a B.Com student will be earning around 5 lakhs to 10 lakhs per annum. The fresh graduates easily earn nearly around 4 lakhs per annum, while the experienced professionals will be earning around 6 lakhs to 12 lakhs per annum.

Concluding Lines

There are ample job opportunities available for B.Com students, the above are some of the important job roles that are available according to the specialisations chosen by them. The B. Com students are well paid irrespective of their specialisations; they can also get excellent career growth opportunities in their chosen specialisations. The students interested in commerce can join the B.Com course.

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