What is Bachelor of Commerce (B.Com)?
Bachelor of Commerce, popularly known as B.Com, is the graduate degree that lets you specialise in commerce. Most students, who have done their 12th standard in commerce, enrol for the B.Com degree. Even arts and science students can switch streams and join the B.com degree after their 12th standard. B.Com is a popular degree with a lot of scope for employment. It also forms a strong base for further education. Theres a lot you can do with a B.Com.
If you are considering getting into B.Com theres a lot more you should know that will help you make an informed decision. You should know about the different types of degrees, specialisations, B.Com with honours, duration of the degree, eligibility, admissions, fees, and career opportunities. Therefore, read on to know all that you need to know about the bachelor of commerce degree.
Different Types of B.Com Degree
B.Com is versatile. There are different types of degrees that you can choose. Though most students first go for the conventional graduate degree, there are other options as well that are just as valuable, will ensure you learn a lot, and find a good job and career.
1. B. Com
The bachelor of commerce degree is the most popular degree amongst students. This degree is perfect to get a good job in a multitude of companies spread across a wide variety of industries. In B.Com, you have subjects like accountancy, economics, mathematics or computer, business communication, English, additional English, cost & works accounting, banking & financial systems, and entrepreneurship. Some of the subjects come in the later semesters. With such a wide scope of subjects, B.Com students can choose a good specialisation to make a career in or study further.
2. B. Com (Honours)
B.Com with Honours or B.Com (H) is similar to the B.Com degree when it comes to the subjects. This is also a 3-year degree course that is easily available in most govt.-recognised universities. This degree is a great stepping stone for further education, especially if you want to do professional courses like Chartered Accountancy (CA) or Company Secretary (CS). Students who also want a career in different industries like teaching, journalism, communications, design, etc. go for B.Com (H).
3. B.Com (LLB)
B.Com (LLB) is a 5-year degree course that combines the subject of commerce and law. In it, you have subjects like auditing, economics, business communication, statistics, constitution law, consumer protection law, legal language, the law of contract, etc. By the end of the course, you will be a lawyer, eligible to take the bar council exam and then practice as a lawyer. In total, you have to clear 10 semesters and in the later ones, you get to choose your specialisation in which you complete your law degree.
Difference Between B.Com & B.Com (Hons)
Though In B.Com and B.Com (H) seem to be similar degrees, some differences really set them apart. These differences are what most students look at and choose accordingly. However, one good this that is common with both is that they can lead to good higher education and careers for the students.
1. Eligibility –
For B.Com (H), you will need to have passed your 12th commerce with mathematics as mathematics is an important subject at the graduate level, whereas in B.Com, you can choose between mathematics and computers, with the latter being chosen by most students.
2. Higher Education –
B.Com (H) is preferred for higher education like Chartered Accountant or Company Secretary. Although, you are still eligible for those courses with a B.Com as well, but people wanting to become CA or CS generally take B.Com (H).
3. Curriculum –
Most of the subjects in both the degree courses are almost the same. However, in a B.Com (H), all the subjects are taught a little more in detail as compared to a B.Com (H).
Duration of the B.Com Degree
The B.Com degree should not need you more than 3 years to finish. You can have a backlog of 2 subjects per year, but you have to clear those backlogs in the next semester. Failure to clear them will result in a repeated year. More than 2 backlogs will also result in a repeated year.
The fee for B.Com, compared to other graduation courses, is not very high. Along with arts, it is one of the most affordable degree courses. However, the fee is completely dependent on the college you are doing your degree from. Government-aided colleges tend to have lower fees, as compared to private colleges.
The fee structures vary quite a bit. Your B.Com fee can range from INR 10,000/- to INR 50,000/- for all three years. There are private colleges as well that charge upward of this range. But these colleges also provide additional benefits like better infrastructure, laptops, hostel and canteen services, placements, etc.
B.Com Eligibility Criteria
There are certain criteria you need to fit into to be able to enroll in for a B.Com degree course. Here are eligibility criteria for B.Com course :-
- You need to be 12th pass in the subject of commerce. However, under special circumstances, 12th pass students of science and arts may also join and change streams.
- You need to have scored more than the minimum cut-off percentage of the college you are applying to.
- This minimal cut-off percentage score is completely dependent on the college or university.
B.Com Admission Process
The B.Com admission process may differ from state to state. However, there are a few things that remain the same. Lets take a look at the common steps in the admission process for B.Com. Remember, there are no entrance exams for B.Com.
- First, you have to register on the website of the university you are interested in.
- Next, you have to download fill out an online form of the university.
- You have to attach your 12th mark sheet along with the correctly filled-out form.
- In the form, in a particular section, you can fill out your preferred colleges.
- Submit the form and wait for the colleges to release their admission lists.
If you are unhappy with the college you have been allotted, you may directly approach the college of your choice for admission. Once colleges are done with the university admissions, and there are seats left, they provide admissions to students directly approaching the college. The fee structure may vary in such a case.
List of Available Top 5 B.Com Specialisation
During your B.Com, you will have to choose a specialisation
1. B.Com (Economics) –
Many students like to specialise in economics for their B.Com degree. Economics is one of the most important subjects in the country, and there is a need for economists. In this specialisation, you learn in-depth, micro-level and macro-level economics. This specialisation opens doors for doctorates, and also professions like economist and college professors.
2. B.Com (Accounting & Finance) –
The accounting and finance specialisation is for those students are good with numbers. Students take this specialisation if they want to make careers in accounts or financial management. Both industries have good job opportunities and salaries.
3. B.Com (Financial Markets) –
This is an upcoming specialisation that is garnering the interest of many students, as it all about the national and international financial markets. You can choose from many high-paying careers this specialisation leads to.
4. B.Com (Banking & Insurance) –
Be a part of the country’s two of the most growing industries – banking & insurance – this specialisation. With banking, you can find jobs in nationalised banks, private banks, co-operative banks, and financial institutions. In insurance, you can find jobs with a nationalised insurer or many international insurers that operate in the country. Salaries are good in both industries.
5. B.Com (Taxation) –
This is the age of taxes. Therefore, specialising in taxation will only open multiple doors in regards to your careers. You can find work with government institutes or a wide range of companies across many industries.
Career Opportunities after B.Com Degree
There was a time when people only assumed that the B.Com would only result in clerical jobs, but that is not true. With a B.Com, you can find jobs in many industries. Commerce is a subject that teaches you about accountancy, economics, industries, and financial and company management. These are important subjects in a country whose economy is growing.
There are many jobs you can aim for in an industry that you like. This is one of the biggest advantages. To know more about the career options for B.Com graduates, read the following article.
B.Com Graduate Average Salary
Salary is the biggest question on everyones mind. After all, that is what all are working for, and B.Com graduates are no different. With a B.Com, finding a job with benefits will not be hard. The average salary for a recently graduated B.Com would lie somewhere between the amount of INR 10,000/- to INR 25,000/-. These figures will, of course, grow with experience, promotions and even a job switch.
However, many factors will decide your salary. Most of it will depend on the industry and company you find work in. If you do additional courses or go for higher education, your starting salary will be much higher. Salary figures are also subject to the economic condition of your industry, so choose wisely.
List of the Top Recruiters for B.Com Graduates
B.Com graduates are highly employable, especially when the economy is on the upswing, and even when the economy, on the whole, is not doing great, but a certain industry is, B.Com graduates still find a lot of jobs in this industry.
Here are some top recruiters who are giants of the industries, and absorb a large number of B.Com graduates. They are also known to offer good salaries and benefits. After your graduation, you can look for jobs with them.
Arguably the largest bank in the private sector, they have a large presence in other financial industries as well.
This is one of the largest auditing firms in the world with a strong presence in India.
State Bank of India –
This is the largest nationalised bank in the country with operations spread even in the remotest parts of the country.
Bajaj Allianz –
This is a venture between one of the biggest companies in India, Bajaj, and one of the biggest financial services companies in the world, Allianz.
Life Insurance Corporation is the government-owned financial service company that recruits many B.Com graduates.
Benefits of B.Com Degree
There are many advantages a B.Com brings you. From career choices to the salary packages, many things make B.Com lucrative to students. Be sure to learn of these advantages before choosing a degree course after your 12th.
1. Career Options
A B.Com learns everything about how an organisation functions. From accounting to management, they learn of it all. This makes them highly employable across many industries, thus giving them many career options.
2. Starting Salary
B.Com graduates get good starting salaries, which of course, with grow into a substantial amount. Benefits are also good, but all of this also depends on the company you find employment in.
3. Job Security
B.Com graduates find jobs in industries with a lot of job security. The banking industry is the best example. Banks are closely watched by the government and other governing institutions. Hence, job losses and bank shutdowns are rare.
Many B.Com graduates can also become entrepreneurs and start their businesses. They understand how to start and run and company and many other intricate details. This is something science and arts students cant do.
5. Stress-free Education
Compared to other streams, commerce students tend to be less stressed about their education and examinations. Its not that B.Com is easy, but owing to the many options in education and high employability, B.Com students have a more positive outlook for a career.
If you have decided on doing B.Com, you have made a smart choice as you must have read above that some many good universities and colleges provide this degree course. And the course is excellent with a lot of scope for employment, making your career and future secure. Hopefully, you will now know how to go about securing admission and choosing a career path.