Career Counseling for

Commerce Students

The Topics
Why Career Counseling ?

Career Foundation
The Career Cycle

Planning Your Career

Career Options for Commerce Graduate Courses Professional Courses
2

Why Career Counseling?

Deciding upon the right career option is quite tricky for both students and their parents. Should I continue with Commerce and opt for a B.Com degree or should I switch to Science? Should I opt for a three year regular course or should I go for a correspondence degree and opt for professional careers like CA, CS or Journalism?

Most of us go through the same dilemma after passing class 12th exams or during graduation. There is no need for panic or stress there are options for all and options probably you haven't even thought of exploring. In order to get rid of all the confusions, what you need to do is to analyze your interests, personality and aptitude. It is said that if you do career planning based on your aptitude, interest and personality type, the success rate as well as satisfaction rate will be very high. Making a good career choice at the right time will bear fruitful results for you later.

Career Foundation
What is Career? Profession or occupation with opportunities for

advancement or promotion and not just livelihood.

Career Options Course

Eligibility
Skills & Attributes Job Prospects

Pay Package
Institutes & Universities

The Career Cycle

Career Planets
Education Family

Self

Career Life System

Society

Vision A path that leads to Advancement & Promotion in Life

The Career Cycle

Steps to Progress
Facts Commitment Self Belief

5 Most Crucial Factors

Plan

Persevere A path that makes some obtain his wishes: course, job and location

Planning your Career

Course Selection What do you want to study and where? Goal - How to reach it?, Risks Involved, Alternate Options Check your academic performances. Job Expectations: To be decided on Money, Status, Discipline, Command, Challenge Develop Skills, Motivation, Plan Intelligently Crack all Exams Get Advice/Guidance from Experts Proper Planning Prevents Poor Performance

Career Options for Commerce

Graduate Courses :B.Com(H) B.Sc(Math/Stats-H) BBA/BBS/BBM BFM B.A(Economics) BCA BAF BBI CS CFA(USA) Others

Professional Courses:CA ICWA Actuarial Science

B.Com(H)
B.Com (H) is an undergraduate degree designed to inculcate business acumen in students. The course curriculum includes subjects like cost accounting, organizational behavior and then one can specialize is fields like accounts and economics. Also, you can pursue courses like Chartered Accountancy along with your graduation. You can better your skills by pursuing post graduation courses like MBA or M.Com . You can join a KPO (Knowledge Process Outsourcing) that deal with processing of payrolls, administration of accounts or insurance at entry level positions. If you're interested in figures, and balancing ledgers, cost accounts, then you can join as an account assistant or in the auditing department of various firms.

B.A(Economics)
B.A Economics focuses mainly on theoretical concepts and prepares you for higher studies. After graduation you can go for M.A Eco (H). Alternately, you can pursue an M.Phil in Economics, or you can specialize in a branch like Business or Micro Economics, Macro Economics, Labor Economics, Industrial Economics and International Economics. There are colleges that offer courses like Masters in Business Economics, which is a course of high repute. You can appear for Indian Economic Services, the people who get selected are recruited as Grade A officers in organizations like the Planning Commission, Planning Board, and the Ministry of Economic Affairs. You can even write reports on economic and business events in newspapers. The demand for economics teachers in educational institutions is growing in India and foreign universities.

B.Sc(Math-H)
B.Sc (H) Maths: The course mainly revolves around developing mathematical skills in algebra, calculus and data analysis. It prepares you for higher studies. There are opportunities available in many financial services companies, data processing, testing and research centers of multinational companies.

B.Sc(Statistics-H)
B.SC (H) Stats: The curriculum of B.Sc (H) is designed in such a manner that you are taught subjects like probability and permutations. After your graduation, you can pursue courses like Actuarial Sciences. You can even pursue courses like M.Stats from the Indian Institute of Statistics. With a bachelors degree in Statistics, one can become a business analyst, research officer, data analyst, investigator or a lecturer.

BCA
BCA: This is an undergraduate program where students are introduced to various areas of computer science, teaching them various aspects like programming, database design, software engineering, networks and information systems to prepare graduates for further postgraduate research degrees or employment in any variety of roles in organizations that require expert professionals who can apply computer science principles to solve problems produced by the interface between business and technology. Since it is a professional course,job prospects are very good. You can get hired for the post of software testers or software developers. For taking up BCA, mathematics is required at the HSC level.

BBA/BBS/BBM
BBA/BBS/BBM: Bachelor of Business Administration or BBA is a three year degree course which is designed to impart management education and inculcate entrepreneurship skills in a student. It is a professional degree where concepts like management information systems, fundamentals of Human Resource Management (HRM), Financial Law, and fundamentals of marketing are taught and supplemented by practical experience of case studies, industry visits, presentations and summer training. A well structured BBA program develops a students intellectual and managerial skills and helps in nurturing leadership qualities and trains him to be a future leader.

BAF
BAF: BAF stands for Bachelors in Accounting and Finance. The duration of the course is 3 years. The course mainly focuses on tax, cost accounting, auditing, business law, economics, among other things. You can pursue higher education in finance and accounting, or an M.Com or even an MBA in finance. It is a good course if you want to work in the field of accounting and finance. Colleges like St. Francis, St. Xavier's and Loyola College in Mumbai offer this course. You need to have at least 50% at your HSC level.

BFM
BFM: BFM or Bachelors of Financial Markets is a three year under graduate course that focuses on debt markets, equity markets, risk management, micro economics, investment, mutual funds and security markets. By organizing things like industry visits, the course exposes students to operational environment in the field of Financial Markets. You can further your prospects o by pursuing certification courses in financial markets by NSE. You can also pursue courses like CFA (Chartered Financial Analyst) or better your skills and employment prospects by pursuing an MBA or M.Com. Colleges like K.J Somaiya and LS Raheja in Mumbai offer this course.

BBI
BBI: Bachelors in Banking and Insurance course is also a 3 year undergraduate course. The course focuses on topics like financial accounting and management, banking laws, business laws, corporate laws, auditing, and cost. You can pursue and MBA or an M.Com or even a CFA to better your prospects. You need to have at least 50% at your HSC level. Some of the colleges offering this course are Jaihind College, LS Raheja College of Arts and Commerce and Tolani college of commerce in Mumbai.

Charted Accountancy
CA stands for Chartered Accountancy. Chartered Accountants work in all fields of
business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies. The ICAI (Institute of Chartered Accountants of India) is responsible for examinations and licensing of its members. Members are awarded the "CA." designation, to be placed just before their names, as in case Doctors. You can work in an auditing firm, in the Income Tax department or be hired as a CA for a private firm. Chartered Accountants are better equipped to discharge accounting and audit functions in a computerized business environment. In recent times, all over the world, accountancy has grown in popularity as a lucrative profession. Wherever there are makers and users of money, (however, small their individual business may be), the services of a CA are required. Moreover, under the Companies Act, only CAs in professional practice are entitled to be appointed as auditors of companies in India.

CA Courses & Eligibility Criteria

A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the final examination for the chartered accountancy course conducted by the institute. A candidate who desires to become a member of the Institute of Chartered Accountants of India (ICAI) and thereby a practicing chartered accountant must: Clear the CPT, Intermediate and Final examination of the institute. Register as an articled or audit clerk with a practicing chartered accountant. Register with the board of studies of the institute.

Most chartered accountants are commerce graduates with good percentage of marks. Registration to thefoundation course of one-year duration is open to those who have completed 10+2.

CA Career Prospects
The Career options for Chartered Accountants today fall in three major categories 1. Professional Practice; 2. Management Services; and 3. Industry or Service. In independent practice as a sole proprietor or partner in a CA Firm, Chartered Accountants play important roles in Statutory Audit, Taxation etc. Chartered Accountants also work as Management Consultants offering Management Consultancy Services, Information Systems Audit etc. In industry, Chartered Accountants play crucial role of managing Accounting, Finance, Taxation, Information Technology, Information Systems Audit at important positions including that of Chief Financial Officer CFO A good proportion of Chartered Accountants today are opting for Professional Practice as Sole Proprietors or partners in CA Firms. In professional practice, Chartered Accountants offer Compliance and Review Services to their clients, play an important role as Business Advisors and provide Financial Reporting, Financing, Financial Projections and Viability services to their clients. A Chartered Accountant may prefer to join an industry or government department and ultimately hold responsible positions. Alternately, a Chartered Accountant may take up the job of an educator at a University/ College level. Many chartered accountants hold responsible positions in business or industrial entities as CEOs, CFOs, COOs, Managing Directors, Director - Finance, in sectors like Banking, Information Technology, Insurance

CA Remuneration
The remuneration of a salaried CA professional in corporate sector is very high. The salary varies between Rs.2,50,000 and 1 Cr per annum. Individual with a CA qualification is treated the same with a person having MBA qualification in Finance. Similarly one who runs his/her own firm can also earn handsome of money. He/she can conduct auditing works in various companies.

Company Secretary
CS: CS stands for Company Secretary. Secretary does not mean that s/he has to do the regular secretarial work. A company secretary is a very important person in the management of the company. Minimum qualification to take up the foundation course is HSC (or equivalent). Graduates and post graduates in commerce or any other field other than fine arts can skip the foundation course and can sit for the intermediate exam. As a company secretary, a person would be expected to handle the legal aspects of an organization, obtaining institutional finance, he also needs to possess the knowledge of tax, labour laws, excise and even corporate law. A company secretary also deals with promotion, formation and even reorganizing the company.

Company Secretary

CS Career Prospects
Company Secretaries (CS) have the responsibility of setting up the contours for the deliberations of the Board and ensuring regulatory compliance with respect to all the decisions. They act as governance professionals. A qualified CS can either be employed by a company or can start his/her own practice. As per section 383A of the Companies Act 1956, it is mandatory for companies with a paid up share capital of Rs.5 crores or moreto appoint a Company Secretary. A CS to start practice requires a Certificate of Practice (CoP) from ICSI (after having qualified as a CS). The Company Secretaries can then issue compliance certificates to companies and firms (with a paid up share capital between Rs.10 lakhs to Rs. 5 crores) and undertake diligence report for banks etc. They can also render their on retainership basis for professional advice and support. Normally, the designation ascribed within an organisation is Company Secretary or Assistant Company Secretary. But, keeping in consideration the internal hierarchy of an organization, one can start with at least Senior Executive or Assistant Manager in an organization. With experience one can go up to heading a Legal and Secretarial Department of a firm and even rising to the post of Director, Managing Director or Chairman.

CS Remuneration
A fresher can start with a salary of around 3 to 5 lakh per annum. Packages vary depending on individual capabilities and the sector. Opportunities exist abroad as well for ICSI members. The ICSI has signed MOUs with Institute of Chartered Secretaries and Administrators (ICSA) in London and Chartered Institute for Securities and Investment (CISI) in London.

ICWAI
The profession was established by a special act of Parliament, namely, the Cost and Works Accountant Act, 1959. With the passing of the act, "The Institute of Cost and works Accountants of India" was established in 1944 and was registered as a company under the Companies act with the objectives of promoting, regulating, and developing the profession of Cost Accountancy. The Institute of Cost and Works Accountants of India is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy. A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements The head office is situated at 12, Sudder Street, Kolkata 700 016 and operates through four regional councils are Kolkata, Chennai, Delhi and Mumbai as well as through a number of important chapters situated elsewhere in India and abroad.

ICWAI Courses & Eligibility Criteria

ICWAI offer Cost and work accountant programme for all the students wishing to make a mark in this field. To become a professional CWA in India, individual must pass the following examinations conducted by the ICWAI. These are: The Foundation Course The Inter Course The Final Course After successful completion of the above courses, the individual undergoes practical training to become a member of the Institute of the Company Secretaries of India after which he is considered as a Professional Member of the ICWAI and is also issued a membership number. Registration to the foundation course of one-year duration is open to those who have completed 10+2. Those who have passed degree examination of any recognized university or equivalent can directly take admission in Intermediate Course.

ICWAI Course

ICWAI Career Prospects

Job Opportunities Members of ICWAI are being absorbed as Chairman, Managing Director, Finance Director, Chief Executive, General Manager, Finance Manager, etc. in many Public and Private sectors organizations and also in the Government departments. There is an existing Cost Accounting Service in Central Govt. named as Indian Cost Accounts Service, which is at par with the Class I Services of the Government of India. Independent Practice Cost Accountants can practice in the following areas: In mandatory Cost Audit under Section 233 (B) of the Companies Act, 1956. Certification under Export & Import Policy. Excise Audit under Section 14A of the Central Excise Act and Special Audit of Certification Of manufacturing account as per Customs Act. Consultancy Assignments.

ICWAI Remuneration
The salary of Company Secretary or Secretarial Officer depends upon his/her experience. The remuneration of a salaried CS professional in corporate sector is very high. The salary varies between Rs.2,50, 000 and 1 Cr per annum. Individual with a CS qualification is treated the same with a person having MBA qualification in Finance. The CS professionals are also appointed as financial advisor in big companies.

CFA(USA)
The CFA Program, administered by CFA Institute, USA is a graduate level study and examination program intended to expand your working knowledge and skills relating to investment decision making. Successful completion of the program and its requirements will earn you the CFA designation. Candidates for the CFA Program include students entering the investment field, professionals increasing their expertise and marketability, and people making a career change into the investment profession from other disciplines. Candidates interested to pursue career as Analysts, Portfolio Managers, Investment Bankers, Traders, Fund Managers and Auditors. Suitable for those whose career interest is in Finance and Investment Banking field. CFA Institute is located at Charlottesville, Virginia, USA and has worldwide locations.

CFA Courses & Eligibility Criteria

The CFA program is divided into three levels, each of which concludes with an examination. The institute offers the Level I exam twice a year, in June and December. The exams for Level II and III are offered once annually in June. Approximate minimum duration for the course is 3 years. Education that is equivalent to US bachelor's degree is the minimum requirement for signing up for Level I exam. Also students in the final year of their studies are eligible to take the exam. Normally it takes 4 years to complete the requirements for a Bachelor's degree in the U.S. as compared to 3 years for a B.A or B.Com degree in India. However CFA Institute has stated that if the India degree leads to similar job opportunities then it will be considered equivalent to a U.S. Bachelor's degree, even if it does not encompass 4 years of study. We advice India students (with 3 year degrees) to drop an email to CFA Institute and get written email confirmation on their eligibility.

CFA Career Prospects

With a six-decade history of maintaining a rigorous focus on globally relevant investment knowledge, the CFA Program is the most widely known and respected investment credential in the world. Employers recognize the CFA charter as the definitive standard by which to measure the competence, integrity, and dedication of serious investment professionals. The CFA Program curriculum focuses on the practical knowledge and current real-world skills necessary in the global investment management profession. These skills are immediately useful on the job. Earning the CFA charter places you in the company of an elite group of more than 90,000 respected investment professionals. Access to their collective expertise, networks, and resources is an invaluable asset.

CFA Remuneration
The salary of Chartered Financial Analyst in corporate sector is very high. The salary varies between Rs.5,00, 000 and 1 Cr per annum. CFA with 5 years and above experience can rise up to the top management in the company. Some MNCs pays salary above $40,000 in India for experiences CFA.

Thank You
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