Career in Commerce After 12th and Graduation

Commerce is arguably the most popular academic choice in India and is one of the three central academic streams, the other two being humanities and science. While pursuing a course in this field, one acquires knowledge related to corporate finance, stock markets and the inner financial functioning of various profit and non-profit institutions and the economy, on the whole. The concept of trade and commerce consists of a wide range of interdisciplinary branches such as Accountancy, Business Administration, E-Commerce, Economics and Taxation laws etc. Since the Indian economy is one of the fastest growing economies in the world, the need for gifted specialists, who can add to the economic growth of the country, is also snowballing. To serve this surging demand, innumerable commerce colleges around the country are now offering quality education and training, to millions of students in this field. A commerce student can pursue a wide range of courses at any of the colleges mentioned below and have a chance at molding the country’s future in the coming years. 

Courses

Several colleges and institutes in India offer a number of courses in commerce at both undergraduate and post-graduate levels. At the undergraduate level, one can pursue Bachelor of Commerce (B.Com), Bachelor of Management Studies (BMS), Bachelor of Business Studies (BBS) and Bachelor in Business Management/Administration (BBM/A) - all of which are available as part-time and full-time courses. At the post-graduate level, one can pursue Master of Commerce (M.Com), Master in Business Administration (MBA) and other specialized courses in areas such as Finance and Banking, Marketing and Entrepreneurship etc. on both part-time and full-time basis. There are a number of professional institutions/universities providing courses like, Chartered Accountancy (CA), Chartered Financial Analyst Program (CFA) and Company Secretary Program (CS), etc. for those looking to get into specialized fields.

In order to get into an undergraduate commerce program, candidates must have cleared their 10+2, preferably in commerce, from any recognized state/national board. To apply for a post-graduate course, the candidate must have a Bachelor’s degree in commerce from any recognized institution.

Costs of Study

The fees structure for commerce courses generally depends on which college you wish to pursue the course in and whether it is a government or a private college.

BBM/A

In a government college, the fee structure for BBM/A courses is around Rs. 7,000-10,000 per year, while in medium-ranged private colleges it can vary from Rs. 60,000-1, 00,000 per year. Some of the renowned institutes like Christ University, Loyola College, WBUT, Amity University, Symbiosis University and Shri Ram College of Commerce offer both part-time and full-time courses and their fees vary between Rs. 80,000 – 1, 40000 per year.

B.Com

The fee structure for a B.Com course in a government college in India would vary from Rs. 6,000 – 10,000 per year, while in a private institute the total course fee can be somewhere around Rs. 60,000 – 75,000. The course fee covers various costs like library fees, accommodation fees (if any) and the usage of other facilities along with tuition fees.

BMS

In a government college, the fee structure for this course would come up to Rs. 5,000-12,000 per year, including computer lab and library fees. In private institutes, like Amity University, Christ University and St. Xavier’s Mumbai, the fees can range between Rs. 16,000- 30,000 per year.

M.Com

The course is available on both part-time and full-time basis and the fee structure in a government college could range from Rs. 3,000-10,000. However, in a private institution, the fee structure could range from Rs. 50,000 – 1, 20,000.

CA

At the time of registration, candidates have to pay around Rs.1500-2000 to sit for the CPT (Common Proficiency Test), which is a pre-requisite to pursue CA. The course duration is 5 years and the average fee structure ranges from Rs. 17,000 – 20,000.

CFA

CFA is a three-year post-graduate program and the fee structure is nearly Rs. 20,000 – 25,000 per year.

CS

The CS program is offered by all major ICSI institutes across India and for the commerce students, the entire fee structure can range between Rs.7,000- 10,000.

Scholarships/Arrangement of Funds

Now a days it is very easy to obtain scholarships for commerce courses, provided the candidate can produce their merit certificates and also display the right amount of potential on the scholarship test/form. The AOC Scholarship Program, Indian National Scholarship Scheme, J.P. Morgan Chase Scholarship Program, the Government of India Scholarship and the Apex Life Scholarship offer substantial aid to students at both undergraduate and post-graduate levels.

Students looking for financial assistance can also obtain loans from banks such as SBI (State Bank of India), Axis Bank, HDFC Bank, ICICI Bank, Bank of India and Bank of Baroda etc. These loans are available for higher education both in India and abroad. The quantum of finance available to students by way of educational loans depends on the courses they intend to pursue, their academic performance so far and, at times, on their score in the scholarship test. Such financial aid usually covers tuition fees, cost of books and accommodation fees. Till the repayment period of such aid starts, the parents or guardians of the student act as primary debtors for the loan.