Are you a B.com student or a recent graduate wondering how much salary you can make as a B.com graduate?
Well! You have come to the right place ! in this article, and we will discuss everything you need to know about how much you can make as a B.com graduate.
It is a three-year undergraduate course that many students in India register for after completing their class-12th.
This course offers students a detailed knowledge of commerce. The average salary of a fresher b.com graduate is Rs 1.8 lakhs per annum with less than one year of experience.
Of course, the salary increases with one's experience. So we would like you to read this article to the end to get a more comprehensive knowledge of the subject matter.
Salary of B.Com graduates:
Based on specialization Streams
As we discussed above, the average salary of a fresher BCom graduate is Rs 1.8 lakh per annum but no need to worry as one can increase his pay based on specialization in different fields.
Adhere to the following sections below, where we will discuss various fields in which specialization can boost the average pay grade.
jobs after b.com and it's salary
BCom In Accounting and finance
The specialization in this field can help individuals in gaining technical knowledge and fundamentals of the accounting and finance to the individuals.
The basic average salary of the individuals with this specialization starts from Rs 1.5 lakhs per annum for a first-year student, and a more experienced person is between Rs 4.5 and 5 lakh per annum.
However based on one's skill and knowledge one can get up to Rs 20 lakh per annum
BCom In Law
An integrated course of BCom & law aims to provide the students with a combined knowledge of the law and finance.
Students can apply for various job profiles such as Management accountant, Assistant advisor, Attorney General, etc.
A Bcom and law degree can help one get an average salary of around 4.3 lakhs per annum, and the freshman can start with around 1.92 lakhs per annum.
In contrast, on the other side, senior professionals, due to their experience and honed skills, can get up to Rs 30 lakh per annum.
Therefore with the right skill and a will to grow, you can earn well and do well in the field.
BCom In Corporate Law
Students with a specialization in this have a comprehensive knowledge of company law and finance. It is an increasingly popular specialization course.
Individuals specialising in this field can pursue various jobs in the legal and finance sector, like a finance manager or project manager, as they know the Companies Act,2013.
The average salary of the graduates with this specialization ranges from 5.3 to 5 5 lakh per annum, but with experience and skills, one's salary can get as much as 30 lakh per annum.
BCom In Marketing Management
The program aims at developing critical thinking skills in the students by providing them with knowledge using practical marketing case studies.
Marketing has always been an integral part of all enterprises, so individuals with this specialization can earn a decent amount if they have the necessary skills and experience.
The average salary of a BCom graduate specialising in market management is Rs 3.5 lakhs per annum, but with experience, this amount can go as high as Rs 20 lakh.
BCom In Economics
It aims to develop a business sense in students via specialization in organizational structure, cost accounting, etc. It is for people seeking a job as an economist, economic policy analyst, forecaster, etc.
This field is also becoming very popular among commerce students. The average salary of a Bcom graduate with specialization in this field is around Rs 6.3 lakh per annum.
For a first-year student, the amount I'd near Rs 1.8 lakh per annum, and for a more experienced individual, this number can go as high as up to Rs 20 lakh per annum.
BCom in General business
One can pursue various roles in business management and finance. The specialization in general business helps students learn the general principles and build general skills required in this field.
One can work as a Business development associate, Marketing consultant, Associate Auditor, Assistant accountant, etc. The average salary of graduates with this specialization is around Rs 5 lakh per annum
Highest Paying Jobs for BCom candidates
You should also know about the highest paying jobs to earn the necessary skills required to be eligible for those jobs.
With this information, you can make a more careful decision about which job is best for you and how you can pursue that after graduation.
Chartered Accountant
Chartered accountancy is one of the most respectable professions and is very popular among commerce students.
To become a Chartered accountant, one has to clear a series of examinations and complete a three-year training under a practising Chartered accountant. These exams are conducted by the Institute of Chartered Accountants in India.
Yes! It is one of the toughest exams to clear, but the rewards this degree brings make all the efforts worth it.
The average salary of CAs in India is around Rs 7.8 lakh annum. However, a CA's average salary can rise to Rs 40 to 60 lakh with more experience and skills.
If he is posted internationally, he can earn around Rs 75 lakh per annum.
The job of a Chartered accountant requires diligence and competence, and with experience, both of these can be increased, thus increasing your pay scale.
Certified Public Accountant
A Certified Public Accountant is a licensed accounting professional. It is similar to a Chartered accountant, but it is organized by the American Institute of Certified Public Accountants (AICPA), and so it grants the license.
A CPA must comply with work, education, and examination requirements. He should have a graduation degree in business administration, finance, or accounting and have completed 150 hours of education.
Students are also required to pass the CPA exam conducted by the AICPA in four parts. CPAs hold various positions in corporate and public sectors, such as accounting and many executive positions like the chief financial officer (CFO).
CPAs are highly in demand as they offer the Companies various financial advice and help them manage auditing, taxation, reporting, and other related accounting processes.
The average salary of a CPA in India is Rs 7 lakhs per annum.
On the one hand, freshers with less than one year of experience earn around Rs 6.14 lakh per annum, and the experienced CPAs can make around Rs 15 lakhs per annum.
CPA has a global demand, and one can always apply for international jobs.
Actuary
They help companies in analyzing financial costs associated with risks and uncertainties. Actuaries employ various statistical, mathematical, and financial theories for assessing the risk of various events and help their clients develop policies that can reduce the cost of that risk to a minimum level.
Due to their risk assessing capabilities, they are beneficial to insurance companies in determining whether to issue an insurance policy or not and what should be the suitable premium for a policy.
To become a skilled actuary, one should be very efficient in data science and statistical analysis. The number of actuaries is very low compared to other professionals, so they are always high in demand.
The average salary of an actuary in India is around Rs 10.2 lakh per annum and can go up to Rs 50 lakh per annum with more experience and skills.
The starting salary of a freshman is around Rs 3.5 lakhs per year. It is one of the most lucrative careers in data science and mathematics.
Cost Accountant
A Cost accountant is a financial analyst who helps companies determine the actual costs associated with manufacturing a product or providing a service and helps companies in effective pricing of their product by giving them a more detailed view of the costs.
They are the professional experts who help companies prepare budgets, manage expenses, and evaluate their financial performance.
Cost Accountants are one of the high-earning professionals in the commerce field. They inspect various costs associated with supply chain activities.
Generally, manufacturing firms require the expertise of a Cost Accountant in figuring out various costs associated with the production.
The average salary of a Cost Accountant in India is Rs 5.6 lakh per year, with the starting salary being Rs 2 lakh per annum, which can go up to Rs 10 lakh and above with more experience.
Career prospects and job scope for B.Com:
Owing to the global acceptance of commerce and other related domains as a universal language, the job scope for B.com graduates is high, with the average salary of around Rs 4.4 lakhs per annum which can easily rise with the required specialization and experience.
The B.Com graduates can work as auditors, cost analysts, risk analysts, and investment bankers. Moreover, the degree of CA, CPA offers more job prospects for the Bcom graduates.
Not only this, but after completing B.Com, there is also scope for students to get in the line of teaching and various public and private sectors of various organizations.
Conclusion:
We hope that the above information will have helped you obtain helpful information about the various job prospects and their respective pay scales.
The scope for B.Com graduates is vast, and the salary mainly depends on your skills and experience, which can be increased with time.
The specialization in various fields along with B.Com helps you increase your pay scale, but it will also help you gain in-depth knowledge of various fields that can add a lot to your personality and wisdom.
Frequently Asked Questions
Q1. What is the monthly salary of a B.Com graduate in India?
The average salary of a fresh B.Com graduate in India is between Rs 16 thousand to 25 thousand. It can increase with an increase in experience and specialization in different domains of accounting, finance, etc., as discussed above.
Q2. How can I get a good salary after B.Com?
To increase your salary and earn a good amount, you can pursue a specialization in various streams of accounting, finance, law, corporate law, economics, and business management along with a B.Com.
The specialization will provide you with in-depth knowledge of various subjects and make you eligible for various high-paying jobs.
Q3. Which B.com course gives the highest salary?
BCom courses such as specialization in law and corporate law, economics, etc., offer the highest salary.
However, high-paying jobs for commerce students are that of a Chartered accountant, investment banker, Chartered financial analyst, Certified Public Accountant, Actuary, Cost Accountants, Retail manager, etc.
Q4. What is the salary of a CA?
The average salary of CAs in India is around Rs 7.8 lakh annum. However, a CA's average salary can rise to between Rs 40 to 60 lakh with more hand skills, and if he is posted internationally, he can earn around Rs 75 lakh per annum. The job of a Chartered accountant requires diligence and competence, and with experience, both of these can be increased. thus increasing your pay scale.