Top 10 Highest Paid Jobs in India in Commerce Field

Introduction

In India, students follow a solid and rigid form of the education system in which the fields are classified into Science, Commerce, and Humanities. Depending on the students’ interest, they opt for one of these fields based on the job and financial security, and future requirements.

Commerce is among the most popular education streams in India and offers many career opportunities for students after graduation. In India, we are conditioned to believe that students from the science field are the only ones to get good jobs with bright futures who lead a decent and comfortable life. However, contrary to popular belief, there is a vast opportunity with high-paying jobs in the commerce field in India. Knowledge of best courses after 12th Commerce with a high salary can lead you to make the right career choice.

Commerce is a stream that primarily deals with subjects such as investment, monetary system, and accountancy, among others. It is a job-oriented stream that provides knowledge to the students on how the business and finance world works. Therefore, most of the job profiles related to this field are a part of either business or industry. Many of these jobs come with the tag of a high salary, and indeed, most students would love to be enlightened on these careers.

The most significant factor determining the satisfaction and success of a particular profession is salary. Some of the best courses after 12th Commerce with high salaried jobs are Bachelor of Economics, Bachelors of Financial Markets, and Bachelors in Banking and Insurance.

The Commerce stream opens the gateway to several professional work options in the sectors of accounting, finance, risk management, investment banking, and they are considered some of the high-paying salary jobs in the commerce field in India. These occupations attract commerce students and allow students from other streams to explore the opportunity and lead a comfortable life. There are several high-paying jobs in the commerce field in India which are suitable for commerce students.

This article will discuss the top 10 highest paying jobs in India in the commerce field and the best courses after 12th Commerce with high salary.

List of Career Options

Let us now discuss the top 10 highest paying jobs in India in the commerce field.

Following are the best jobs for commerce students:

Jobs	Salary (per annum)
Chartered Accountant	Rs. 6 Lac – Rs. 7 Lac
Actuary	Rs. 10 Lac –Rs. 14 Lac
Investment Banking	Rs. 9 Lac – Rs. 10 Lac
Management Accounting	Rs. 8 Lac – Rs. 9 Lac
Cost Accountant	Rs. 4 Lac – Rs. 5 Lac
Banking	Rs. 4 Lac – Rs. 5 Lac
Company Secretary	Rs. 4 Lac – Rs. 5 Lac
Stock Broker	Rs. 2 Lac – Rs. 5 Lac
Financial Planner	Rs. 5 Lac – Rs. 6 Lac
Insurance	Rs. 2 Lac – Rs. 4 Lac

1.Chartered Accountant

Chartered Accountant is one of the best jobs for commerce students. It is also a popular career option for commerce students and has been in huge demand lately. It is one of the high paying jobs in the commerce field. Chartered Accountancy requires working on the auditing, accounting, and taxation, financial assessment for a particular person or a business organization. Chartered Accountant is a post offered to an accounting professional having received certification from the ICAI. This is on the grounds that he is qualified to tackle the matters associated with the accounting and taxation of a business. It involves operations like auditing financial statements, filing a tax return, handling the investment records, examining business practices, and assembling and reviewing financial reports and documentation.

A candidate trained in Chartered Accountancy is also qualified to provide advisory facilities to the clients, including individuals and companies. A person from a financial background is usually expected to get into the Chartered Accountancy professional course. A Chartered Accountant aspirant can easily qualify for this job through various examinations, internships, and additional qualifications evaluated by their respective statutory bodies. The Institute of Chartered Accountants of India (ICAI) recommends a candidate as a chartered accountant. The primary task of a chartered accountant is to manage company accounts, finance requirements, and finances to sustain the records and liberate an association from an uncertain and volatile business environment.

Working hours for a chartered accountant depend on the duty and the organization for which he is working. However, usually, the timing remains between 9 am to 5 pm. With deadlines close, working extra hours on the weekends is ubiquitous, especially in larger firms. As a trainee, the candidates are usually given time off.

A chartered accountant plays one of the most important and successful roles in a firm. It is a crucial professional description for a business. Thus, it is one of the highest-paid jobs in the country. The fresher salary starts from Rs. 5 Lac –Rs. 7 Lac, and it keeps increasing with time and experience. The level of difficulty under this course continues to increase. As a result, the aspirants are expected to work hard and practice. The course comprises varied subjects such as taxation, auditing, financial management, and accounting. This profession is as rewarding and lucrative as it is demanding. The aspirants need to work hard and be innovative to utilize the best services coming their way.

What does a Chartered Accountant do?

Chartered accountants are e professionals working in numerous fields of the economy, handling the finances of a business entity. They provide their clients with valuable financial advice and help with finance management. Their clients can be a business entity, individual, or even a government agency.
As a chartered accountant, one is expected to advise his clients on tax and treasury issues and come to terms with the suppliers.
Chartered Accountants work as managers and strategically guide business organizations in the right direction, fixing finance-related problems and enforcing positive changes in the firms.
Chartered Accountants record the overall financial performance of a company or firm, which significantly influences the decision-making process in the company.
Chartered Accountants rely on financial advisors, and offer aid to different groups and companies, both as a counselor and consultant and while working with the firm as a partner.

2. Actuary

Actuaries are the people who maintain the financial management of multiple resources. They study the effects of financial risks and financial uncertainties in the altering financial world. An Actuary tends to be the most important and the innermost component of the financial department of an association. Therefore, it immensely affects the destiny of an organization. An actuary can be one of the most thriving and flourishing career options in the commerce stream. This is also among the high paying jobs in the commerce field.

Individuals in actuary jobs perform an actuarial analysis. They predict and analyze future events and draw conclusions. They assess underwriting procedures and insurance operations. Technical aid concerning actuarial matters is offered to other technical personnel and policy examiners. Actuary appraises numerous financial assets and essential security systems. They also constantly measure the day-to-day complexities of the finance department of the organization. It primarily deals with numbers, analytics, ideas, assumptions, and other factors used to assuage the business risks.

The skills required for the actuaries are excellence in Analysis, evaluation, asset, and liability management. A decent understanding of the market and its mechanisms and functioning are some of the key elements required to be studied in the job to assess assets and control the possibilities of the risks. A student should have a background in economics, business studies, and finances to step foot in this profession.

An actuary gets a salary of 10-14 Lacs per annum. With higher qualifications and experience, the amount keeps increasing.

What Does an Actuary do?

Actuaries use math and statistics to help their clients reduce financial risk factors.
An actuary’s work differs, depending on various projects changing from analysts to administrative duties and counseling the clients.
Actuaries work with insurance companies, specializing in various fields involving life insurance, health insurance, automobile insurance, and homeowners insurance.
Actuary uses his expertise in Analysis, evaluation, and risk management, along with basic human behavior, to design strategies that bring positive results to otherwise negative consequences.

3. Investment Banking

An investment banker holds the most remunerative and the most important post in a business association. Thus, it is deemed amongst the best career options for commerce students in India. Since commerce students usually deal with numbers and finances, they are the ones who offer their views or recommend the organization on matters regarding investment, finance, and savings. The primary job description for an investment banker is to offer financial recommendations in order to help business organizations to use their resources optimally and to be able to reach their goals. A person with sound knowledge of financial assets and investments can choose this profession. There are various roles in this occupation like analysts, associates.

The field needs its candidates to stay updated on financial matters, for they need to constantly look into the market for upward or downward movement in the market. Investment bankers advise companies to make sound decisions concerning the investment. An investment banker earns a salary that is about Rs 26 Lac rupees a year. This is also one of the top 10 highest paying jobs in India in the commerce field.

What Does an Investment Banker do?

The job of an investment banker is to help companies and other business entities raise money for improvement in their conduct.
Investment Bankers are brought in to handle a company’s initial public offering (IPO).
Investment bankers work on the bond offerings, hammer out a merger, or manage the private placement of bonds.

4. Management Accounting

Management accounting is famously known as managerial accounting. It is considered to be one of the best career options for commerce students. The fundamental work in the field is to provide proper financial knowledge and required resources to the company managers. They help in the decision-making process of an association. In this process, the finance department of the company shares numerous economic statements, invoices, and other essential pieces of information with the managers. The main incentive behind this profession is to allow the management staff to make factual and accurate decisions with the help of statistical data.

The role of a management accountant plays an important role in finding out various business risks. Only the most trusted and internal members of a firm use this form of accounting. It is the best opportunity for a commerce student, for this job applies theoretical knowledge practically in a real business that the students spend learning for years. The minimum requirement for management accounting is a bachelor’s degree, but experience helps immensely.

What does a Management Accountant do?

Management accountants are hired to work for public associations, private businesses, and government entities.
The duties of management accountants include assessment and crunching numbers and data, aiding in selection and management of the investments, risk management, financial planning, and strategizing.

5. Cost Accountant

Cost accountant accentuates the fundamental and conceptual foundation of accounting. It is connected to economic Analysis, business organizations, finance, the principle of economics, and various other elements of the business world. If Managing cost operations of a business firm and optimizing resources stimulate someone’s interest, then cost Accountant will be one of the best career options in Commerce in India and one of the best jobs for commerce students.

The task of a Cost Accountant is to draw up the budget, assets of the firm, and assessment of the company’s overall performance. To become a cost accountant, the candidates need to opt for a bachelor’s degree after the 12th, followed by the other available courses for higher degrees listed for higher positions. Accounting is one of the toughest yet rewarding career options for commerce students and needs tremendous hard work and practice.

A fresher in this field can earn a decent income of Rs. 4 Lac per annum. This sum is enough to push the aspirants to seek a job in this field. This profession helps an individual applying his financial knowledge to real-life business situations. It also helps organizations maximize their financial gains with such talented candidates with immense potential. This is among the highest paying jobs for commerce students in India.

What does a Cost Accountant Do?

Cost Accountants collect cost information and maintain an expenses database for the company. They also construct the data accumulation system.
Determination of fixed costs such as salaries, rent, and Insurance is a cost accountant’s job.
Cost Accountants plan, assess, and record variable costs such as purchases of raw material and operations costs.
The professionals in this field prepare the company’s budgeting reports and all the different departments in the company.
Cost Accountants work on monthly, quarterly, and annual cost forecasts and assist in month-end and year-end closing and recommending cost-effective solutions to the companies.

6. Banking

Banking is one of the most common and popular careers in India. It is a profession that a commerce student in the country would always prefer. This is also among the best jobs for commerce students.

The banking sector has grown in demand immensely in the last many years. Part of the reason for this is because banks are the backbone of the Indian economy. There has been a dramatic growth in job opportunities in the banking sector. It has opened ways for many candidates who are working on getting into the field. As a result, a massive demand for the banking sector has emerged. The jobs in banking are available in both government and private sectors. Both these sectors need good qualifications along with an excellent educational background. An aspirant has to go through multiple banking examinations in order to qualify for the job.

Banking offers an appropriate government job with a decent salary and social acceptance. This is what makes the banking sector a highly lucrative career option. With the advent of new banks, career opportunities are constantly flourishing for commerce students in India. Students with a commerce background will automatically find themselves drawn towards banking as a career opportunity. Nowadays, the banking sector is open to all students from any educational background with a graduation degree from any recognized university. Thus, it makes the Banking sector an excellent career option for the youth.

What does a Banker Do?

The job of the bankers is to charge interest and fees for the services and seek dividends on the investments made.
Bankers offer advice on matters related to cash management loans to business firms, government agencies, and private companies.
Individuals require fundamental banking facilities, including checking or savings accounts, and often, buying a home.
Bankers handle other settlements, like, writing cashier checks or money orders.

7. Company Secretary

A company secretary holds a principal position in an organization. The job of a company secretary is to keep tabs on information linked with tax returns, supervision of returns. A CS also has to ensure the company’s works are within the legal and ethical capitulation. A Company Secretary works as a negotiator between various types of stakeholders in the company that include the shareholders, governments, and board of directors. The Institute of company secretaries of India (ICSI) is a statutory body modulating the profession of a company secretary. The institution offers training and education to the aspirants and is a recognized institution responsible for the education of the CS aspirants.

A CS candidate needs to finish three levels of the examination conducted by the ICSI. The field requires proficiency in company law. To get into the job, good command of the language is also preferable. The candidates ought to be acquainted with numbers as well as should be painstaking planners. Thus, the occupation of a company secretary can be classified among the best career options for commerce students in India. The candidates can expect a handsome income of Rs. 6 Lac – Rs. 7 Lac per annum.

What does a Company Secretary Do?

The job of the company secretary is to maintain the statutory company records. This involves maintenance of the details of past and present directors and secretaries, along with maintaining the details of the shareholders and keeping the board and annual general meeting.
The profession also includes the organization of board and shareholder meetings. Basically, it involves ensuring that proper notice to the concerned authorities is given. Furthermore, it also requires management to assemble and administrate meeting contents and materials and take accurate meeting minutes.

8. Stock Broker

Stockbrokers are the most thriving market for individual investors as well as small and large-scale businesses. The job of the stockbrokers is to sell financial securities or stocks in the market. The market continues to change regularly. Thus, a stockbroker needs to constantly look after the upward or the downward trends in the stock market. It is the best opportunity for a commerce graduate. To work as a stockbroker, one needs to keep a close eye on the working of the market. Furthermore, the candidates also need a proper understanding of how SENSEX, NIFTY work.

The best part of this profession is that it is accessible for every individual regardless of their educational background. It is even more suitable for commerce students since they have a proper insight into various financial nuisances of the field, and they have been in touch with the subject for years. They can quickly grasp the complexities of various mechanisms in this field. Financial advisor, fundamental analyst, dealer, equity advisor, investment advisor are the roles. Stockbrokers can take as their career progresses. Stockbroker skills include connecting the requirements and interests of the client and understanding the uncertainties of the markets and reliable, predictable profit. Provided the sensitivity of the market, this can be a volatile job; however, proper returns are also expected.

What does a Stock Broker Do?

The job of a stockbroker involves measured execution of trades that includes buying and selling on behalf of their clients. These trades usually depend on the stock broker’s instincts based on what is necessary for their client’s portfolio while also analyzing the investments.
A stockbroker must properly understand his customer’s investment needs and aims, financial circumstances, and risk tolerance. When recommending client investments and doing market research, a stockbroker must select suitable investments for their portfolio and, depending on the finance requirements.
It is the fiduciary duty of a stockbroker to put his clients’ needs above his own while recommending an investment. A stockbroker also needs to follow the rules curated by regulatory agencies, such as the FIRA or the Financial Industry Regulatory Authority. The agencies expect fairness and honesty, trade fair.

9. Financial Planner

A financial planner in a company happens to be the planning partner and an educator. He provides aid to the organization and helps them meet the short and long-term goals. They basically impact the organization’s financial health, influencing the overall impact of the system on the association. Thus, a Financial Planner can be considered one of the most crucial career options for commerce students in India.

A financial planner strives to attain the complete picture of the company’s assets, liabilities, income, and expenses. It is done through rigorous Analysis and interpretation of the availability of the data. It focuses on numbers, assumptions and provides proper insight into the inner business world. Thus, the profession needs a strong commerce background to meet these demands. A financial planner is accountable for the financial services and strategizes other key issues, including tax issues, savings, budget, and evaluation of the situation of the business firms.

The job of a financial planner is to analyze numerous premises for a company’s investment. Afterward, they evaluate all the possible alternatives and opt for the most suitable one. This entire process requires good knowledge and understanding of the business elements responsible for the firm’s progress. Financial decisions directly affect the functionality of a business organization. Therefore, any decision taken needs to be evaluated with proper care and management before one materializes it.

What does the Finance Planner Do?

The profession of a financial planner in an organization requires him to budget, saving for retirement, tax planning, insurance coverage.
Financial planners work both with individuals and corporations to help them achieve their economic goals.

10. Insurance

Insurance professionals have been in high demand these days. They work as a mediator between the insurance companies and the general public. They relay a company’s plans and schemes to the customers, providing them the best out of the available options. Simultaneously, they convey the customer’s grievances to the company, offering the proper and appropriate solutions. It helps the business associations alter their policies according to customer’s choices and make them more customer-friendly.

This sector has shown immense growth in the last few years. The career potential for this field has also flourished over the years. The candidate can work in multiple roles as a part of this profession. The roles range from an insurance agent to a sales manager and also extend to an insurance underwriter. The skills needed for this job are excellent communication skills and a good understanding of business terms. This profession is one of the best career options for commerce students since commerce students are more precise with various policies and schemes related to the business world.

What does an Insurance Professional Do?

Insurance professionals have various roles, such as Insurance Agents, Insurance Claim Adjuster, and Insurance Advisor.

Following are the jobs of the professionals in this field—

The role of an insurance agent requires the candidates to pursue clients and provide them beneficiary insurance plans. Further, the professionals are expected to sell them on various facilities and products of the enterprise. They are mainly the sales executives of the companies to the customers and possible clients.
Under the role of an Insurance Claim Adjuster, the candidates are responsible for evaluating the insurer’s responsibility towards the losses of their clients.
The job of an insurance advisor requires the candidates to work as a counselor for the intended client and then provide them with accurate and factual information towards investment in various insurance schemes.

Conclusion

These are the ten most high-paying jobs in the commerce field. If someone finds oneself drawn towards this particular stream, it is the right time and opportunity to take on the job. The commercial sector has been immensely rewarding in those terms.

Furthermore, the financial sector has been in huge demand recently. The career opportunities in the field are expected to grow as the finance ministry brings in further economic reforms. Commerce has a wide variety of career options available that offer excellent job opportunities and financial security.

Most high paying jobs in the commerce field in India require exceptional skills and the ability to work under pressure and responsibilities. So, it is most important to hone the skills in the process.

In this competitive era, it is good to look for your passion and experiment with your field. The world is a global village, and the distances have blurred immensely in the last several decades. Soon the students pursuing their careers in the financial fields will find themselves at essential places. However, it is important to remember that sharpening your skills while working is the most crucial factor in rising higher in this field.

FAQs

1. What are the career options in the commerce field?

Commerce is an extremely rich stream when it comes to career opportunities and options. The career options in the commerce stream include e-commerce, Accountancy, Finance, Marketing, and Business Management. Not only the government but also the private sectors invite knowledgeable and skillful professionals from the commerce field. Competitive exams have paved the way for a vast opportunity for a career in this field. Many young aspirants can also choose independent finance applications, including project consultations, tax consultations, and auditing.

2. Does a career in Commerce stream have a future?

Yes, Commerce has a tremendous amount of job opportunities. However, the old age prejudices against this stream often discourage the students from taking up education in the commerce field. However, that does not keep the commerce stream from offering better career opportunities to the aspirants. Finance is the backbone of any running organization, and with the help of skilled candidates, the businesses and companies run smoothly.

3. What are the best courses for commerce students after the 12th?

Here are some of the best courses after 12th Commerce with high salary:

B.Com: Bachelor of Commerce
BBA: Bachelor of Business Administration.
BBS: Bachelor of Business Studies
BMS: Bachelor of Management Studies.
Chartered Accountant, Cost and Management Accountant (CMA), Certified Financial Planner (CFP), Company Secretary, Institute of Cost and Works Accountants (ICWA), The Chartered Financial Analyst (CFA): These are the most popular professional courses to choose after opting the commerce field.

4. How is a financial planner different from a financial advisor?

A financial planner in any association is a candidate who aids companies and individuals in creating a program that helps them meet long and short-term financial goals. In contrast, a financial advisor is an encyclopedic term for the professionals helping the companies manage their finances, including investments and other business-related requirements. However, provided the escalation of the financial industry today, many financial planners and advisors might do similar things.

More Resources: Job vacancies in Delhi NCR | Job vacancies in Udaipur | Teacher interview questions and answers | Agile Interview Questions & Answers