In India, there are 35 million students at the undergraduate and postgraduate level. Of these, only 15 percent are in the commerce stream. Most students in school who aim at taking up commerce have the mindset that there are only three options available — CA, CS, and BCom.
What many fail to see is that commerce is a large and versatile field. You need not take this subject just because you could not get into a science college. You can pick up the course as a choice that you have made, not a compulsion.
There is a whole world of careers around you. Let’s have a look at fields that you can choose if you do pick up commerce after passing your +2.
Actuarial science
This is a field of calculating possible risks across various fields. As an actuary, your work will involve implementing mathematical and statistical equations, and financial theories to determine risks and events which can impact a business.
Actuaries are the deciders in the pricing of various insurance policies. This is an extremely lucrative career, but is coupled with intensive study and long working hours. You have to clear the ACET to be able to register with the Institute of Actuaries of India and pursue this field.
Management
If you are not a math wizard, management can be an interesting career option. This can be a very versatile field. You can end up working in sales, international business, operations, HR, and marketing, depending on the specialisation that you choose. Most managers have a BCom, BBA or a BMS degree.
Economics
This is the field of studying the production, consumption, and transfer of wealth. This is a research based career in which economists predict market trends and suggest measures to solve economic problems.
You can work as an economist and a risk analyst, among other careers. You would have to pursue a BSc or a BA with honours in economics.
Company secretary
Despite the name, this role is not secretarial. Company secretaries are responsible for ensuring that the company adheres to policies, regulations, and legislatures. They keep board members informed of their legal responsibilities and ensure that they operate within the law.
In India, every listed company is required to have a qualified CS. There are three stages in the CS course — foundation programme, executive programme, and professional programme.
Finance
Like marketing, finance is a multi-faceted, versatile industry. You can pursue a specialised finance course at the undergraduate level like a BFM. Once you have a degree, you can work in various fields like corporate finance, financial accounting, commercial and investment banking, hedge funds, and venture capitals.
Chartered accountant
This still remains a top choice amongst many commerce candidates, primarily due to the lucrative career path post a CA degree. CAs work in all fields of business management, including audit and taxation.
To become a CA, you need to first register with the ICAI and clear the CPT exam after your +2. This is a competitive exam and many students have begun to use digital learning platforms to understand concepts and answer a variety of questions.
India is considered to be a treasure trove of engineers, scientists and doctors. Commerce has been looked at as a mediocre field over the decades. As we move into this year, it is time to encourage students to do what they love, and explore the full potential of commerce as a field of study.
The writer is vice-president, educational content, Toppr.com