Table of Contents
- What is Master of Commerce or M.Com?
- Master of Commerce (M.Com) specializations for students
- Skills required
- Eligibility criteria
- Admission process
- Entrance exams
- Top Indian colleges for Master of Commerce
- M.Com distance education
- Fee structure
- Career options and average salary after M.Com
- Key takeaways
The commerce sector, in general, has recently witnessed a boom offering the most lucrative jobs in the finance, accounting, and banking sector. Master of Commerce (M.Com) professionals with appropriate skills are easily hired for jobs in top firms. This course is ideal even for those who want to pursue independent entrepreneurship. Let’s now have a look at the details of the M.Com course.
What is Master of Commerce or M.Com?
Master of Commerce or M.Com is a two-year postgraduate program that is perfect for individuals who want to work in the accounting, banking, financial services, and insurance (BFSI) industries. The course covers topics on the economy, taxes, revenue, trading sector, and other financial/economic concepts extensively in the two-year duration of the course. In addition, students enrolled in this course will learn that it is a fairly flexible program that allows students to select from a variety of professional paths.
Candidates who have completed their B.Com or B.Com Honors can pursue the course as it is a specialization in the commerce stream in itself. Candidates planning to appear for Chartered Accountancy (CA) should also consider the M.Com degree. The course price ranges from ₹ 5,000 to ₹ 1,50,000, depending on the nature of the college itself. Additionally, the course has an excellent return on investment, and it leads to a number of opportunities in the future.
Master of Commerce (M.Com) specializations for students
Since commerce as a subject is vast and has many sub-fields, there are various areas available for students in which they can do their post-graduation. Some of the most popular specializations in the field are-
|M.Com (Computer Application)||M.Com (Finance)||M.Com (Economics)|
|M.Com (Banking)||M.Com (Statistics)||M.Com (Accounting)|
|M.Com (Business Management)||M.Com (Finance and Control)||M.Com (Mathematics)|
|M.Com (Taxation)||M.Com (Marketing)||M.Com (E-commerce)|
The course requires two years to complete and is usually subdivided into four semesters. However, the syllabus varies from one specialization to another. Some of the common topics that students will be well-versed with after the course are as follows –
|Organization theory and behavior||Economic analysis||Statistical analysis|
|Business environment||Managerial Accounting||Financial management and policy|
|Marketing management||Quantitative techniques for business decisions||Strategic management|
|International Business||Human resource management||Accounting theory and practice|
Some of the required skills to have a successful career after completing an M.Com course are –
- Logical reasoning
- Analytical skills
- Mathematical skills
- Banking and finance awareness
- Computer literacy
- Verbal and communication skills
- Eye for detail
- Leadership qualities
- Ability to handle work-pressure
Different colleges have different eligibility criteria for M.Com courses. The following are the general requirements for enrolling in the program-
- The candidate must have completed B.Com, B.Com (Honors), or equivalent from a recognized college/university with a minimum of 50% aggregate score or equivalent.
- Students who graduated in Economics (H), BBA, BBE, and BFIA, with a minimum aggregate score of 60% or equivalent, are also eligible for admission to an M.Com course.
- If there are any entrance examinations, the candidate will have to qualify for the same.
The admission process of M.Com courses varies from one college/university to another. There are a significant number of colleges that provide admission in Master of Commerce or M.Com courses on the basis of merit. Applicants are evaluated on the grades they have received in their graduation level exams. Those who clear the cut-off marks are selected for admission.
However, there are many colleges/universities which opt for entrance exams for selecting students for admission to M.Com courses. These entrance exams are monitored by the conducting institutes. Students who score the qualifying marks are invited to the interview rounds.
There are several entrance examinations for M.Com courses offered by colleges in India. Apart from the basic qualifications of at least 50-60% aggregate score in graduation in related fields, students must also qualify for the entrance examination, if there are any.
Some of the most famous M.Com entrance exams are-
- Common University Entrance Test (CUET)
- Delhi University M.Com Entrance Exam
- Banaras Hindu University Postgraduate Entrance Test (BHU PET)
- Punjab University Common Entrance Test (PU CET)
- Loyola College Entrance Test for M.Com
Top Indian colleges for Master of Commerce
If you want to pursue a Master of Commerce course in India, the following are some of the best institutes that you can choose from-
- Hindu College, Delhi University
- Presidency College, Chennai
- St. Xavier’s College (Autonomous) Kolkata
- Shri Ram College of Commerce, Delhi
- Loyola College, Chennai
- Madras Christian College, Chennai
- Kirori Mal College, Delhi
- Hansraj College, Delhi University
- Narsee Monjee College of Commerce and Economics, Mumbai
M.Com distance education
Many colleges also offer distance education apart from the regular courses. Distance education in M.Com is designed for students who have time limitations or are facing financial difficulties. In order to be eligible for M.Com distance education, a candidate must hold a bachelor’s degree in a related field from a recognized university with at least a 50% aggregate score or equivalent.
We have provided a list of universities that are offering the best and most affordable distance education-
- Indira Gandhi National Open University (IGNOU), New Delhi
- SOL Delhi University, New Delhi
- SRM University Distance Education, Chennai
- LPU Distance Education, Jalandhar
- Karnataka State Open University, Mysore
- Mahatma Gandhi University – School of Distance Education, Kottayam
- Annamalai University of Distance Education, Annamalai
Factors like the nature of college (whether private or public), location, infrastructure, and facilities influence the fee structure. Hence, the fee structure of the course depends on the university to which one is admitted. However, the average tuition fees for a Master of Commerce program in India range from ₹ 15,000 to ₹ 2,00,000 per annum. Likewise, the nature of the course also influences the tuition fee. Distance education in M.Com costs much less than regular courses.
Career options and average salary after M.Com
High grades in this program will help you pave your way toward success in the commerce sector, where top firms and companies are offering great job positions at decent pay for skilled graduates. Those who are interested in continuing academically in the same field can opt for Ph.D. and take up a professorship as a job. Those interested in other job profiles can refer to the following list of best job profiles:
- Audit officer
- Business analyst
- Marketing manager
- Finance analyst
- School teacher
- Operations manager
- Investment banker
- Finance consultant
The average salary for a skilled graduate ranges between ₹ 2,00,000 per annum and ₹ 5,00,000 per annum. The salary can go beyond the stated average based on the nature of the job and the employer.
- M.Com is an exceptional postgraduate program for students from a commerce background, which opens the door to a plethora of opportunities.
- Preparing for entrance exams to get into good universities is extremely important and hence practicing the previous year’s question papers is a must.
- The opportunities extend to various sectors, including finance, banking, accountancy, tourism, consultancy, etc.
- To further your career in this field, you should have a good hold over logical reasoning, mathematics, accounting, banking, finance, etc.
We hope you enjoyed reading this blog. In case of any queries, reach out to us or drop a comment below!
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Q1. What is the duration of an M.Com course?
Answer- Master of Commerce is a two-year postgraduate program that is usually pursued after B.Com or B.Com (H).
Q2. What are some of the employment sectors recruiting M.Com graduates?
Answer- Some of the employment sectors recruiting M.Com graduates are — domestic and international banks, corporate sector, accounting and auditing firms, tax firms, economic or financial consultancy firms, import/export companies, insurance companies, customs departments, research institutes, tourism, sales, and excise, etc.
Q3. What is the average tuition fee for a Master of Commerce course?
Answer- The average tuition fee for a Master of Commerce course ranges between ₹ 15000 and ₹ 2,00,000 per annum.
Q4. Which are some of the top recruiters for M.Com professionals?
Answer- Some of the top recruiters for M.Com professionals are — Deloitte, PwC, Tata Consultancy Services, HCL, Wipro, Capgemini, HDFC Bank, Punjab National Bank, KPMG, Samsung, IndusInd Bank, Ernst & Young, TFC, BSNL, Genpact, P & G, OYO, Reliance, Infosys, among many others.
Q5. What is the fee for M.Com distance learning in India?
Answer- The course fee for M.Com distance learning varies between ₹ 5,000 and ₹ 40,000 on average. Moreover, universities like Indira Gandhi National Open University (IGNOU), New Delhi, and Karnataka State Open University, Mysore, are popular for offering affordable distance learning courses.