16 High Salary Jobs in Commerce Stream You Must Consider

In today’s competitive world, there is a high demand for jobs that provide both financial security and job satisfaction. The opportunities in the field of commerce provide a combination of both these factors. Selecting the right job and profession is critical in achieving long-term success and satisfaction.

Commerce stream comes with a plethora of career options to choose from. From investments and taxation to economics and business management, the field of commerce has diverse subjects. Based on your subject expertise and interest, you can choose your desired career that is lucrative. Here are some of the most high-paying jobs in Commerce.

Here’s a list of 16 high paying jobs in Commerce stream

• Actuary

Actuaries typically work in businesses that are averse to risks such as healthcare, finance and insurance. An actuary develops strategies to manage risks such as designing pension plans, evaluating pricing policies for insurance products, assessing financial risks associated with pension plans. They develop mathematical and statistical models to assess financial risks. Wondering what skill does an actuary require? An unwavering interest in the subject of Mathematics and Economics, strong analytical skills along with the ability to explain complex information to other non-experts.

An actuary can earn a salary of 9-10 lakhs per annum. A background in accounting, economics, or Mathematics, along with certification courses such as CFA or CPA, can be beneficial for this job profile. Candidates also have to appear for Actuarial Common Entrance Test (ACET). 

• Investment Banker

Investment bankers advises companies on mergers, acquisitions and public offering of securities. They work closely with financial institutions and raise capital for the company. Companies develop short-term and long-term financial plans with the help of investment bankers. An investment banker must be able to work well in a fast-paced environment and under tight deadlines.

Investment Bankers earn a salary of 9-10 lakhs per annum. Any commerce graduate with some work experience can aspire to become and investment banker. Advanced degrees such as a Master of Business Administration (MBA) can also be beneficial. IMS Proschool provides a certification course in Investment Banking and Capital Markets for graduate and undergraduates that makes them job-ready. 

• Chartered Financial Analyst (CFA)

The CFA program provides you detailed insights on a variety of subjects like fixed income, economics, corporate finance, portfolio management, private equity and much more. CFA is a globally recognised and the most in demand commerce job. It is one of the high-paying jobs in the US and India. A CFA can perform several roles like wealth management, financial analysis, credit analysis and many more. A CFA gathers data from multiple sources and assesses the risks and returns associated with various investment assets. CFAs can easily find relevant opportunities in banks, insurance companies, investment firms, and financial securities.

To become a CFA, you need to pass three levels of exams covering subjects across investments and finance. IMS Proschool provides intensive training for CFA exams for all 3 levels. We have the best faculty and learning material. The mock tests provided in the CFA training by Proschool are at par with the actual CFA exam. 

• Chartered Accountant

A Chartered Accountant specialises in accounting, Indian and International taxation, law and auditing. They are responsible for managing financial records, filing tax returns, auditing, and providing financial advice to companies. The Institute of Chartered Accountants of India conducts all CA exams and it is one of the toughest courses in Commerce.

Becoming a CA typically requires a bachelor’s degree in accounting or a related field, as well as passing 3 levels of exams administered by ICAI. Practical training under a qualified CA and meeting the required experience is also mandatory. 

• Marketing Manager

Marketing manager is responsible for developing and executing creative marketing strategies to promote the brand. The marketing in charge also looks after the overall branding of the organization. They use a combination of offline and online marketing strategies to increase brand visibility, client base, build brand awareness, and boost sales.

A marketing manager must be up-to-date with the latest trends and technologies in the marketing industry to ensure that their strategies are effective.

The Digital Marketing course by IMS Proschool can be quite beneficial to candidates aspiring to pursue a career in marketing. It provides exposure to SEO, SEM, Social Media Marketing and Analytics. You can even solve case studies and get hands-on experience.

It is perfect for undergraduates or working professionals who are curious about the amalgamation of technology and marketing. 

• Financial Planner

A financial planner helps organizations and individuals to meet their financial goals by effectively managing their finances. A financial planner provides guidance on tax planning, retirement planning, assesses your income and risk tolerance, and also provides personalised investment recommendations on insurance and equity investments. Financial planners must have a deep understanding of financial markets and products. Financial planners can get a starting salary in the range of 3-5 lakhs. 

The CFP training by IMS Proschool helps you prepare for all levels of CFP rogram with ease. We have 80% success rate for this program and the faculty members are CFP professional themselves. Our study material, mock tests, and practise questions are at par with the actual exam. 

• Certified Public Accountant

Certified Public Accountant is another profession in Commerce having a global appeal. It is conducted by the American Institute of Certified Public Accountants (AICPA). CPAs offer a 360-degree view of the financial health of organisations. They can effortlessly handle taxation, accounting, auditing and reporting of MNCs. They can handle different positions in public and corporate accounting hierarchy and can even go on to become CFOs.

A graduation degree is essential to earn CPA eligibility. To become Certified Public Accountant, you need to complete the certification and hold approximately 150 hours of work experience. A CPA can earn a starting salary of 6-8 lakhs per annum. 

• Auditor

An auditor evaluates financial records to ensure they are accurate, complete, and in compliance with relevant laws and regulations. They work in a variety of industries, including public accounting firms, government agencies, and corporations. Auditors must possess strong analytical skills, attention to detail, and the ability to communicate effectively with internal and external stakeholders. They also stay up-to-date with the latest changes in accounting and auditing standards to ensure that their evaluations are thorough and accurate.

• Company Secretary

A Company Secretary ensures that the company is run as per the statutory and regulatory requirements. A Company Secretary acts as a moderator between the board and the stakeholders. They make legal filings like tax reports, account information and also report annual earnings. Company Secretary is a principal and respected job in any organization.

A Company Secretary typically earns a starting salary of 4-6 lakhs per annum. Post the HSC examinations, candidates can prepare for the foundation ICSI course while graduates can apply for the Intermediate ICSI course. 

• Lawyer

Talk about argument skills and it is synonymous with lawyer! From corporate to criminal law and civil, there’s a scope in the legal field. You can start working as an attorney in a magistrate court and climb your ladder up to be the judge or solicitor general. If you have a knack for social justice and wish to do something for society on legal grounds, a career in law may be best suited for you. It can be a well-paying and respectable job. You can pursue law post your HSC exam or after graduation, whatever is suitable for you. The average salary for lawyers in India is 5-6 lakhs per annum. 

• Human Resource Manager

The HR Manager is in charge of the overall employee lifecycle within the organization. They are responsible for recruiting, screening, interviewing, hiring and onboarding the employees. An HR Manager also handles payroll, culture training, employee benefits, and other team bonding events.

Depending on the size and type of the organization, the responsibilities of the HR manager may vary. To become an HR Manager, you have to complete a Bachelor’s degree in human resource. A course like an MBA in Human Resource can also give you enough exposure and the right head start to a bright career in Human Resources.

An HR Manager can earn a salary of 6-7 lakhs per annum. 

• Financial Analyst

A financial analyst analyzes financial data, trends, and business performance to help companies make informed decisions. They use financial tools and models to forecast future financial performance and identify risks and opportunities. Courses like Financial Modelling by IMS Proschool provide hands-on experience in building financial models and analyzing complex financial data. Such courses also provide exposure to tools like Excel, Bloomberg and other tools used in financial analysis.

ACCA is another globally recognized certification that provides a thorough understanding of accounting principles, financial reporting, taxation and audit. The ACCA training by IMS Proschool helps you ace the ACCA course.

A financial analyst can earn a starting salary of 4-5 lakhs per annum. A combination of formal education and skills acquired through professional courses like ACCA and Financial Modelling can help financial analysts succeed in their careers.

• Management Consultant

Management consultants have expertise in all domains of business like finance, marketing, operations, and human resource. These consultants work with clients to identify problems they face, analyze data, and develop strategies to increase productivity and fulfill business goals. Industries like healthcare, finance, manufacturing and technology hire the services of management consultant.

Courses like CIMA (Chartered Institute of Management Accountants) and IFRS (International Financial Reporting Standards) offered by IMS Proschool can be helpful in becoming a management consultant as they provide a comprehensive understanding of financial reporting, analysis, and strategic management. Both these courses cover topics like forecasting, budgeting, financial analysis, and strategic planning which are essential skills for a management consultant.

A management consultant earns a salary of 12-13 lakhs per annum. 

• Risk Manager

True to its name, a risk manager helps the organization to mitigate the risk that can impact its financial stability and reputation. They are responsible for identifying, assessing and mitigating risks. A risk manager closely works with senior executives, compliance officers and other stakeholders to ensure that the organization is protected from various risks.

A risk manager can expect a starting salary of 10-12 lakhs per annum. For risk manager profile, companies do prefer hiring MBA candidates. Many risk managers begin their career as auditor or financial analyst and work their way up to management positions over time. 

• Cost Accountant

Cost Accountants are financial and accounting experts who evaluate company’s assets and create budgets. Analyzing profits and budgeting are the two core responsibilities of cost accountants. A cost accountant profile is quite common in manufacturing companies.

A course like Certified Management Accountant (CMA) can be the right learning for aspiring cost accountants. It provides a thorough understanding of budget planning, financial accounting, cost management and corporate finance. A cost accountant earns a salary of 5-6 lakhs per annum. 

• Tax Consultant

A tax consultant specializes in tax laws, and regulations and helps clients to comply with tax laws and minimize tax liabilities. From helping you claim tax deductions to effortlessly doing your tax planning and filing tax returns, a tax consultant is in charge of all these duties. They provide services to individuals, small businesses, MNCs and even NGOs. You need a high level of proficiency in understanding taxation to become a tax consultant.

Conclusion

These are some of the most impactful and high-paying jobs in the market after commerce. To reach to this level and excel in these jobs, a well-planned execution is necessary. Hence, it is important for students to prepare right after HSC or during graduation. This will help them complete their studies early and start their professional life at the right age.

Even if you’re a working professional looking to upskill yourself and increase your income, you can consider taking up certification courses by IMS Proschool. All these courses are available in both online and offline modes. You can choose the mode of learning that best suits you. You can learn without leaving your job or taking a career break.