Highest-paying Jobs in Commerce

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Last updated on
13rd May, 2022
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13rd May, 2022
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Highest-paying Jobs in Commerce

In today's market, the demand for commerce stream jobs is at an all-time high. Medical and engineering are no longer the only two job options for a secure and promising future. The field of commerce is widening every day, with new job opportunities flooding the market and shooting the employment rates worldwide.  

Whether arts-oriented or science-oriented, every business venture has an aspect of commerce, such as finance, HR, PR, marketing, and management. As a result, the demand for commerce-based jobs remains evergreen.  

If you're confused regarding your career in commerce and remain unsure whether it will land you success and fortune, you've come to the right page. We've outlined the best-paying jobs in commerce for you below. So, sift through them and find your position of interest!

Top 15 Highest-paying Jobs for Commerce Students in India

The following is an in-depth commerce stream jobs list with salaries for students thinking of pursuing commerce but don't know what to expect.

1. Cost Accountant

A cost accountant is one of the best career options for commerce students after the 12th. As a cost accountant, you have a twofold job responsibility — on the one hand, you have to help with profitability analysis, and on the other hand, in budget preparation. However, these two functions are interlinked.

Unlike a Chartered Accountant, you do not need official certification to become a Cost Accountant. There are no professional exams you need to pass or a governing body. However, you must have a knack for mathematics and economics with commerce as your background.

Cost Accountants make, on average, about INR 5 Lakhs annually. They are hired primarily by manufacturing firms and aid them in finding ways to maximize production while minimizing the cost of production.

Cost Accountants scrutinize and analyze all the data related to the supply chain to ensure an optimized production process.

2. Chartered Accountant

Chartered Accountant, the job role sounds fancy. It should because it is one of the highest paying jobs in the commerce world. A CA can earn anywhere from INR 7-INR 8 Lakhs a year in the initial stages of their career.  

The compensation only increases as you gain experience and continue to make achievements. Chartered Accountants are responsible for ensuring a company's accounts and finances are properly recorded and calculated.

The Institute of Chartered Accountants of India is the governing body of all CAs that decides eligibility based on examinations and internships.

It takes anywhere between 3-7 years to become a full-fledged Chartered Accountant. There are three levels for becoming a Chartered Accountant - CA Foundation, IPCC, and CA Final.  

After completing your IPCC, you will have to take up an internship at a CA company or apprentice under a CA for 2.5-3 years before attempting the CA Final. This is a necessary step as you won't qualify otherwise.  

Once you meet the prerequisites and pass your CA Finals, you can kickstart your career with a high-paying job.

3. Professional Accountant

Professional Accountants assist CAs with accounting, taxation, compliance, and reporting. Therefore, they must have a working knowledge of complex software like SAP, Tally, and Excel.

On average, a professional accountant makes about INR 3 Lakhs a year. However, they make a lower salary than CAs because while they can perform audits and analyze financial statements, they do not have the expertise of a Chartered Accountant.  

There is a high demand for Professional Accountants in accounting firms which means students who choose this role find it easy to get hired.

4. Investment Banker

A job as an investment banker or a CA is one of the few high-salary jobs in the commerce stream. But unlike CA, you do not need to study for 3-7 years to be eligible for a job.  

This is your job if you have a natural affinity for finance, understand market behavior, and knack for the stock market. As an investment banker, you will be advising companies and individuals on the best way to invest their money.

Investment banking firms specialize in targeted investment portfolios that give much higher returns than any day trader can generate. As an investment banker, you will need to ensure that your company can meet its long- and short-term investment goals.  

The average salary for an investment banker just starting in India is INR 10 -INR 12 Lakh per annum.

5. Actuary

An actuary is an individual that is involved in the insurance industry. Their job is to analyze and assess the risks involved in the industry and help prepare the company for any liability in the future through risk management and mathematics.

These risks include everything from property loss to disability and anything else that could impact a company or an individual. Actuaries can make anywhere between INR 9-INR 10 Lakh per year based on different stipulations

To become an actuary, you will have to master managing and mitigating risk. This is a career for those that have sharp analytical minds.

Getting a bachelor's degree in Economics, Business Administration, Finance, or Mathematics is a must for this field.

6. Financial Analyst

A Chartered Financial Analyst is not that well known for jobs under the commerce stream, but it is well full of untapped potential. A Chartered Financial Analyst or a CFA is a specialist in investment management. These professionals complete a CFA course which trains them to read and predict financial markets accurately.

To be a CFA is to be a jack of all trades. You will have to engage in wealth management, equity management, credit analysis, and fixed income analysis.  

The CFA certification has three levels that have to be passed. Its subject matter includes accounting, economics, security analysis, money management, and ethics. There is a big emphasis on economics, making it the right course for those inherently interested in this field.

The average salary for a CFA is INR 7 -INR 8 Lakhs per year. The best part about doing a CFA is that it is a globally recognized job in the commerce field. Moreover, unlike practicing law, you can take this degree abroad, which will still be viable.  

Thus, it is one of the few commerce stream jobs where the degree retains its credibility overseas.

7. Public Accountant

A Certified Public Accountant is similar to a Chartered Accountant in many ways, but they have different governing bodies. For example, while the Indian Chartered Accountants have the Institute of Chartered Accountants of India, Certified Public Accountants have the American Institute of Certified Public Accountants or AICPA.

A CPA has more appeal than a CA because it has a global reach like a CFA. As a result, you can get certified and work from anywhere. This is one of the few careers in the commerce stream with a global reach.  

CPAs conduct financial statements of audits and give a holistic view of the financial health of organizations. In addition, they commonly offer advice on taxes and financial planning.  

To become a CPA, you must have a Bachelor's degree in Business Administration, Finance, and Accounting and complete a minimum of 150 hours of education. This is to be eligible to take the licensure examination.

8. Personal Financial Advisor

Being a Personal Financial Advisor is a very niche job, and duties vary from client to client. Like a personal shopper, a Personal Financial Advisor needs to develop investment plans based on every client's f.  

To start with, the salary of a Personal Financial Advisor is INR 4 Lakhs per annum.

9. Certified Financial Planner

A Certified Financial Planner is a certification course for those students who want to get officially certified. The demand for Certified Financial Planners in India is exponential, and a CFP stands to make between INR 6 - INR 7 Lakh per year

10. Financial Examiner

Financial Examiners make about INR 4 - INR 5 Lakhs per year. They are hired at banks and other financial institutions, and their primary responsibility is to ensure the company is following all the rules and regulations stipulated by the government.

11. Retail Manager

If you want a faster-paced job, becoming a retail manager in finance means and goals are just the job for you.

As a retail manager, you will be required to be a top-level problem solver. You are targeting problems from both the front and the back in an efficient way to optimize the team.

You will be managing and supervising every aspect of a store's day-to-day running. This includes everything from sales, staff, inventory, and other resources management to ensure the smooth functioning of a store. The retail manager’s job is to make sure the store succeeds and makes a profit.

To become a retail manager, you require a degree in retail management. Upon completing that, you can always take a course on project management and business management to get a well-rounded view of your job. This is one of the best career options for commerce students after the 12th.

Retail Managers make between INR 5 and INR 6 Lakhs a year, to begin with, and the figure goes up based on performance and cost-cutting initiatives.  

12. Budget Analyst

The position of a budget analyst is a very niche role in the commerce world. As the name suggests, it is the budget analyst's job to closely scrutinize budgets and monitor expenditures and incomes of the company to ensure the company reaches its financial goals.

They are paid on average between INR 6.5 - INR 21 Lakhs per year based on their experience level.

13. Company Secretary

To become a Company Secretary, you need to first complete a course and get a certification. It is one of the principal posts in a company, with Company Secretaries responsible for ensuring that the company runs as per the statutory rules and regulations that bind the company.  

As a Company Secretary, you can expect an annual salary of between INR 4 - INR 6 Lakhs per year as a fresher.

14. Investment Analyst

As an Investment Analyst, you will be working in hedge funds, securities, and stock brokerages. Your job will be to carry out research to formulate extensive financial models. After developing these financial models, you will have to provide analytical reports and investment suggestions.  

The average salary of an investment analyst in India is INR 10 Lakhs.

15. Management Analyst

Management Analysts are concerned with achieving the organization’s goals. They collect data from different departments with the sole purpose of optimizing communication and facilitating goal achievements.  

For Management Analysts, it always comes in handy to take courses on Business Management. The average salary of a management analyst in India is INR 10 Lakhs.

Top 5 Highest-salary Jobs for Commerce Students Without Math

If you don't like math, don't fret! Many commerce careers don't involve math and statistics, allowing you to do all the parts you enjoy about commerce without hassling with working out the math.  

So, here are the top 5 commerce jobs without math:

1. Entrepreneur

To be a successful entrepreneur, you will have to be a jack of all trades and a master of all. Entrepreneurs start their own companies with either fresh new ideas or better takes on existing ideas. To become an entrepreneur, you must be innovative, have excellent problem-solving skills, and pursue one of the top business management courses.

The best part about becoming an entrepreneur is that no course or degree is required to become one. You can be an entrepreneur regardless of your background. The best entrepreneurs satisfy a want in the market. There is no fixed salary or income for an entrepreneur – you make as much as the company makes.

2. Product Manager

Product managers are responsible for the product development and testing process —everything from the research and development to the new product’s market release and customer service. This is the job for those individuals that are innovative and creative while being practical at the same time.

You do not need a degree to become a product manager, but there is a product management certification program that you can take online to learn the skills you need for the job. Product managers make about an average of INR 16 Lakhs a year.

3. Hotel Manager

To become a hotel manager, one must get a degree in hotel management from a university. There are always other courses you can take to supplement the degree. Specialization courses in wine, hospitality, baking, cooking, etc., carry weight in a resume, but a degree is a must.

Travel and tourism are an integral part of the global economy, and by becoming a hotel manager, you can be a part of it. Hotel managers earn an average salary of INR 2.5 Lakhs a year.

4. Event Manager

An event manager or an event planner is the in-charge of everything at an event or ceremony. They are responsible for organizing the event, including catering.  

Many companies hire event managers to organize their corporate events, and they are also wanted in the public sphere for parties, weddings, concerts, etc. The average salary of an event manager per year is INR 15 Lakh.

5. Human Resources

Human resources are the backbone of any organization. They are responsible for onboarding and offboarding employees, handling raises and solving workplace conflicts.  

This is the career for those with good people skills who are more interested in the human aspect of companies rather than the financial and commerce perspective.

Human resource persons are the men and women behind the scenes, ensuring that the company is on track. The average salary for those working as human resources professionals is INR 4.8 Lakhs per year.

Job-oriented Courses

Job-oriented courses offer a definite career path after course completion. They usually have job-specific information, and the curriculum is built around the needs of the job.  

For example, if you were to take a course in IT or computer science, you would need to get a job in IT to apply the knowledge. Some of the most commonly used job oriented courses include:

1. Digital Marketing 

Almost every company wants to go online or establish an online presence. Companies must go online if they’re going to survive in the internet age. Thus, many online portals offer courses in business marketing. This is because it is quickly becoming one of the most sought-after online courses.  

2. Business Analytics

An MBA specialization in business analytics is a highly sought-after degree because an individual’s earning potential increases almost two-fold after completing the course.  

This comprehensive course combines marketing, financial accounting, and management. It teaches data analytics and machine learning. You can even take up a data science course to build your career in business analytics.  

3. Product Management

Commerce graduates can enroll in Product Management Certification programs to become certified product managers. It will teach you the different stages of developing and launching a product while improving your management and communication skills. This is a product development and a management certification combined.

4. Project Developer

To become a Project Developer, you do not need to get a certification mandatorily to be hired. There are many online courses you can choose to learn how to become a project developer.

Conclusion

Commerce has expanded so much since your parents were studying. Unlike a few decades ago, businesses now have definite structures and defined roles, each having a unique responsibility for the business's functioning.  

With commerce stream career options, there is always scope and possibility of growth every year. As a result, the demand for commerce-based jobs is at an all-time high, with companies looking for individuals who specialize in their chosen roles.

Companies are willing to pay those who meet their stipulations, so it is best to do a specialization course. Your pay package will increase if you keep leveling up your resume.

Frequently Asked Questions (FAQs)

1. Which is the highest-paid job in commerce?

There is no such thing as the highest-paid job in commerce, but CFA, CPA, and CA are all jobs with high pay scales. The highest paid jobs are a product manager and event manager without math.

2. What is the income of CA?

The average income of a CA is INR 6 - INR 7 Lakhs per annum. Depending on your performance, you can earn INR 40 - INR 60 Lakhs per year within a few years. If you land an international posting, that number increases to INR 75 Lakh a year and beyond.

3. What are the opportunities in the commerce stream?

There are opportunities wherever you look in the commerce stream. Of course, they all come from different places, but there is always the potential to make real money doing what you love in commerce. However, the stream that makes the most money is accounting and finance.

4. Is commerce better than science?

It all depends on where your passions lie. While there is scope in science, it would not be satisfying unless you had a passion for it. Commerce pertains to all industries, so you can work in anything from the pharmaceutical industry to the film industry, depending on your interest.


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Yashil Garg

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Yashil Garg - An Experienced Content Marketer with a demonstrated history of half a decade working in diverse industries such as information technology and web development, Edtech, BSFI and Marketing.