Best Courses and Careers in Commerce Stream

January 6, 2023
commerce stream

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A total of 40.3 lakh students are enrolled in the commerce stream. 

With changing days, students are now shifting more toward opting for the commerce stream. The triumphs in the corporate sector have proven the success of commerce professionals in the world’s market. 

The demand for business and management intellect has been highly rising in recent days. And these professionals originate from the commerce domain.  

Mainly, Commerce is related to Accountancy, Business Studies, and Economics. You can choose Commerce if you are interested in these subjects. You will learn about the financial structures of any organization and how financial information is produced and analyzed. One can also learn about business strategy, business issues, processes, decision-making skills, and parameters about all these.  

Therefore, if you are interested in these fields or want to know about all of them, you can choose the Commerce stream. Also, after pursuing Commerce, many job opportunities are available, including the highest paying jobs.  

This article will present a detailed guide to the commerce stream and the prospective career in commerce stream. 

What is Commerce Stream?

The commerce stream refers to the stream of educational courses that are concerned with the study of trade, business, and accounts. The courses in the commerce discipline cover topics like the exchange of goods, consumer services, etc. The main commerce stream subjects are accounts, economics, and business studies. English remains a compulsory subject but students can choose their optional subjects out of options like maths, physical education, Hindi, Bengali, computer applications, informatics practices, etc.  

Commerce Stream Subjects

These are the common commerce subjects in class XI and XII are as follows: 

Accountancy

One of the most important commerce stream subjects is accountancy. Accountancy is the study of recording, classifying, and reporting individual or business transactions. Accounting enables individuals to analyze and manage their income and expenditures. Accounting professionals provide all valuable feedback regarding the management of financial transactions of a business.  

The primary tasks involved in the field of accounting are: 

  • Recording the flow of money 
  • Issuing invoices 
  • Paying employees 
  • Keeping a track record of company’s financial status 

Economics

Economics is one of the paramount commerce stream subjects. The objective of studying economics is to get an account of the economy of a country, the production & distribution of goods, and their consumption.  

Economics is a branch of social science and is concerned with the optimum utilization of resources and the relationship between the production, distribution, and consumption of goods and services. Further economics is segmented into microeconomics which deals with the individual units of an economy and macroeconomics which studies the entire economy of a nation as a whole. 

Economics enables us to know: 

  • About a society’s production, distribution, and consumption of goods and services 
  • The economy of households as well as the nation 
  • Functioning of an economy 
  • Implications of government policies on an economy 

Business Studies 

An enticing commerce stream subject is business studies. It is the study of business organizations, how they work, and the factors that affect them. It deals with the different kinds of environments in which a business organization operates and how each environment influences the organization. Business studies provide a foundational understanding of the business industry, principles & practices, and the relation of a business with society. 

The objective of business studies is: 

  • Understanding the business concepts 
  • Observing and analyzing the business behavior & tactics 
  • Prepares students for professional roles in the industry 
  • Understanding how business influences economy and the society 

Commerce Stream After Class 10th

After completing the secondary examination which is class 10th, students get the option to choose their streams. A huge number of students choose commerce after their class 10th. In the 10+2 level, mainly accounts, economics, and business studies are dealt with in the commerce stream. Students can take commerce with or without mathematics. If you aspire to grab a position in the business world, commerce can be the best option for you. 

Commerce Stream After Class 12th

Commerce is considered to be the most dynamic stream. The vast range of career opportunities is exposed to students after 12th. A plethora of courses and career paths are there in the commerce domain where students can develop an astounding career. The career paths mainly focus on fields like finance, marketing, business administration, accounting, taxation, and auditing. It offers you opportunities to work in various top-notch industries. 

Let us first look at the courses that are available in the commerce stream: 

Courses in the Commerce Stream

Following are some of the popular courses for commerce students:  

Bachelor of Commerce (BCom)

Most students want to choose BCom after completing their 12th. This is an undergraduate course focusing on subjects like accountancy, statistics, management, human resources, economics, computer, etc. This is one of the most demanding courses after completing 12th, also many job opportunities are available after completing the degree. The BCom degree can be in both honors and general levels. This is one of the best commerce courses available.  

Duration:

3 Years 

Scope:

  • Accountant 
  • Business Executive 
  • Accounts Manager 
  • HR Manager 
  • Account Executive 

Average Salary:

INR 4.72 LPA. 

Bachelor of Business Administration (BBA)

If you are interested in pursuing a career in business, then BBA can be the right degree. It is a professional program at the undergraduate level. BBA is one of the fascinating and best degrees to follow after your 12th commerce stream. If you are interested in working in a company or gaining detailed knowledge about business and its administration, BBA is the right one.  

Duration:

3 Years 

Scope:

  • Retail Manager 
  • Branch Manager 
  • HR Manager 
  • Commodities Trader 
  • Marketing Executive 

Average Salary:

INR 4.84 LPA

Bachelor of Law (LLB)

If you are interested in gaining more knowledge about the constitution and other laws, LLB can be the best option. Especially if you want to become a Lawyer or pursue Law as a profession in the future, then this is the main degree. Here you will study different laws like family law, constitutional law, property law, company law, administrative law, etc. This is one of the best courses to pursue after your 12th commerce stream.  

Duration:

3 / 5 Years 

Scope:

  • Advocate 
  • Corporate Counsellor 
  • Litigation Lawyer 
  • Legal Advisor 
  • Judicial Officer 

Average Salary:

INR 8 LPA

Chartered Accountancy (CA)  

Chartered Accountancy is a professional course to pursue after completing 12th. CA is one of the toughest but most rewarding career options. It is one of the highest-paying jobs in India and one of the best careers to pursue. You will learn about accounting and financial management, advanced accounting, auditing and assurance, business Laws, information technology, corporate & other Laws, etc.  

Duration:

5 Years  

Scope:

  • Chartered Accountant 
  • Internal Auditor 
  • Taxation Officer 
  • Finance Manager 
  • Forensic Auditor 

Average Salary:

INR 9 LPA

Bachelor of Economics

Many commerce students choose BA/BSc Economics as a career option. This course enables students to learn economics in detail, financial concepts, political economy, statistics, etc. This is one of the prominent courses for commerce students. Also, there are many job opportunities available after completing this course.   

Duration:

3 Years 

Scope:

  • Economist 
  • Financial Consultant  
  • Economic Researcher 
  • Actuarial Analyst 
  • Investment Analyst 

Average Salary:

INR 6.05 LPA

Journalism and Mass Communication

It is one of the trending courses nowadays. After completing their 12th Commerce stream, students can choose this as a career option. Especially if you are interested in starting your career in journalism and media houses, then this course is the right one. You will learn about media and Indian polity, public relations, speaking, media interaction, etc.  

Duration:

3 Years 

Scope:

  • Journalist 
  • Social Media Executive 
  • Public Relation Professional 
  • Content Creator 
  • Broadcast Reporter 

Average Salary:

INR 4.18 LPA

Certified Financial Planner (CFP)

The Financial Planning Standards Board of India (FPSB) provides the CFP course to students. It is also one of the critical courses. As a certified financial planner, you will learn about financial concepts, financial planning, taxes, insurance, etc. If you are interested in all these, you can choose this commerce course.  

Duration:

6 Months – 2 Years  

Scope:

  • Financial Planner 
  • Chief Investment Officer 
  • Portfolio Analyst 
  • Investment Advisor 
  • Wealth Manager 

Average Salary:

INR 4.98 LPA

Cost and Management Accountant

This is also one of the best professional courses for commerce students. It is offered by the Institute of Cost Accountants of India (ICMAI). Students need to clear different exams to gain this title. You can learn about cost and management accounting, fundamentals, basic principles, etc. There are many highly demanding jobs available after completing this degree.   

Duration:

3 Years  

Scope:

  • Chief Accounting Officer 
  • Investment Banker 
  • Audit Manager 
  • Forensic Accountant 
  • Investment Analyst 

Average Salary:

INR 7.05 LPA

Top Commerce Colleges in India & Abroad

Top commerce colleges in India: 

According to Outlook, the following are the top colleges for commerce in India. 

  1. Shri Ram College of Commerce (SRCC), Delhi 
  2. Hindu College, Delhi 
  3. Lady Shri Ram College for Women, New Delhi 
  4. Hansraj College, Delhi 
  5. Loyola College (Autonomous), Chennai 
  6. Ramjas College, New Delhi 
  7. Department of Commerce, Christ (Deemed to be University), Bangalore 
  8. Madras Christian College, Chennai 
  9. Narsee Monjee College of Commerce & Economics, Mumbai 
  10.  Atma Ram Sanatan Dharma College (ARSD), New Delhi 

According to USnews, Top commerce colleges Abroad: 

  1. Harvard University, United States 
  2. Massachusetts Institute of Technology (MIT), United States 
  3. University of California – Berkeley, United States 
  4. Standford University, United States 
  5. University of Chicago, USA 
  6. University of Pennsylvania, United States 
  7. London School of Economics and Political Science, United Kingdom 
  8. Columbia University, United States 
  9. New York University, United States 
  10. Erasmus University Rotterdam, Netherlands 

Career Options in the Commerce Stream

The commerce stream offers a wide variety of career opportunities in the industry. Following are the top job profiles offered in the commerce stream: 

Chartered Accountant

Chartered accountant job is one of India’s best and most highly demanding jobs. You have to handle top companies’ important business accounts and maintain financial records and financial details, etc. It is a dream job for a commerce student. CA exams are one of the toughest exams also. But the salary package of a chartered accountant is very high. 

Salary:

A chartered accountant earns an average salary of around INR 9 lakhs per annum.  

Investment Banker

Nowadays investment bankers are the most demanding jobs in India. As an investment banker, you have to advise any company or people to handle money wisely or what are the best ways to invest money to get the maximum profit. Investment bankers provide financial advice to different companies for their growth and maximum profit. It is one of the great career opportunities in the commerce stream with a high salary package.  

Salary:

An investment banker gets an average salary of INR 13 lakhs per annum.  

Chartered Financial Analyst

A chartered financial analyst is a great job opportunity in the commerce stream. CFA is one of the highest-paying jobs in India. The work of a CFA is to find the company’s good investments and analyze them. There is a wide scope in CFA, as a chartered financial analyst, you can work in several banks, insurance companies, Investment firms, Private companies, etc.  

Salary:

A Chartered Financial Analyst gets INR 10 lakhs per annum.  

Company Secretary

A Company secretary is one of the principal posts of a company. The company secretary plays an important role and is the key managerial person in a company. They ensure all the basic information related to companies’ growth, account information, financial management, etc. They act as a legal advisor to the company. This is an enhancing opportunity in the commerce stream. 

Salary:

A company secretary earns an average salary of INR 6.80 lakhs per annum.   

Chief Executive Officer (CEO)

The Chief Executive Officer (CEO) is the highest-ranking officer in the corporate structure of an organization. This is the top position and head of a company. A CEO is a person in charge of running a company. CEO manages all the operations in a company and takes important decisions for company growth. They are the representative of a company. So, it is a great opportunity for commerce students as they have great knowledge of business and management. This is one of the top and most respected posts, so the salary package is also high.  

Salary:

A CEO can make up to INR 25 lakhs per annum.  

After completing your higher studies in the commerce stream, you can get wider exposure to multiple job opportunities. There are several other career options available in the commerce stream. 

  • Research Analyst 
  • Marketing Manager 
  • Cost Accountant 
  • Retail Manager 
  • Human Resource Manager 
  • Data Analyst 
  • Information Systems Manager.  

There are several job opportunities available for commerce students in both the Private and Government Sectors. You can work in several Banks as a Bank Manager, Senior Accountant, Junior Accountant, Project Manager, Wealth Manager, etc.  

Science vs Commerce vs Arts

Choosing the right stream is very crucial as it will impact the higher studies or the future career you want to pursue. There are mainly three streams you can choose from – Science, Arts, and Commerce. You have to choose according to your field of interest and your future job plan. Because whatever you will choose now will help you in your higher studies and pursue your dream job. Hence it is important to make the decision wisely. 

The science stream deals with subjects like physics, chemistry, mathematics, biology, or computer science. The subject knowledge in this stream prepares students who aspire to have a career in medical or technological fields. Lots of career opportunities are available. Like you can become an Engineer. In Engineering, several job roles are available in both private companies and PSUs. You can apply for different government jobs or become a lecturer.  

Secondly, the commerce stream covers subjects like accountancy, business studies, economics, mathematics, or information practices. These subjects develop students for working as business professionals in the industry. When comparing science vs commerce, commerce is less hard than science.  

Thirdly topics like history & civics, political science, geography, philosophy, etc are dealt with in the arts or humanities stream. Students from the arts stream nurture multiple creative job profiles like film directors, psychologists, photographers, etc, and grab impeccable theoretical knowledge.   

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Commerce Stream – In a Nutshell 

To conclude, if your interest lies in business knowledge, finance, investments, or in banks, or becoming an entrepreneur, accountant, etc then the commerce stream is the best-suited option. Plenty of opportunities for a career in commerce stream are available in India as well as abroad.  

If you are a commerce student or want to take the commerce stream, this is one of the most dynamic careers and is a great choice depending on your field of interest. We hope this article will help you make your decisions clearly and pursue your future dreams.  

All the best! 

Frequently Asked Questions

Q1. Which stream in Commerce is best? 

Ans. Commerce is a dynamic field of study. Numerous fields of study and specializations are available in the commerce stream like finance, marketing, accounting, economics, statistics, etc. The accounting field yet quite critical offers the best careers in commerce stream. There are several high-end job profiles in the accounting domain. These jobs offer great salary packages. 

Q2. What are the 6 subjects in Commerce? 

Ans. The commerce stream subjects are categorized into compulsory subjects and optional subjects. Besides English as a compulsory subject, the main subjects are: 

  • Accounts 
  • Economics 
  • Business Studies 

The remaining two subjects offer options including mathematics, physical education, informatics practices, computer application, Hindi, and Bengali. These are the six subjects in commerce. 

Q3. Is commerce a good stream? 

Ans. Commerce offers a huge scope in the job industry. The corporate sector majorly comprises professionals from the commerce domain. The commerce stream provides a wide variety of courses and career options for students. Students can make prospering careers in the commerce stream. Various highest-paying jobs are available in the commerce domain. 

Q4. What is the scope of the commerce stream? 

Ans. The scope of the commerce stream is widespread. It covers plenty of professional courses that students can pursue in their careers. The commerce domain offers various top-notch positions in the job industry with high salary packages. Some of the popular job profiles are chartered accountant, company secretary, chartered financial analyst, CEO, investment banker, and many more. 

Q5. Which job has the highest salary in commerce? 

Ans. The commerce domain offers some of the high-salary jobs in the industry. However, the highest-paying job can be the job profile of a CEO. The CEO being the top personnel of a company and one of the significant posts earns a great amount of money, The average salary that a CEO earns is around INR 25 lakhs per annum. 

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