Top 13 Highest Paying Jobs in Commerce

Introduction  

There are various career opportunities available in the current market for building a successful career being a commerce student. A few of the highest-paying jobs in Commerce are listed in this article. The income generated from the respective job plays one of the most important roles in boosting your job satisfaction. This is why you should always look for jobs providing you with a well-balanced mixture of job satisfaction and income. Most of the opportunities provided by the commerce fields have a good combination of both the above-discussed factors. These jobs ensure that you are balanced both mentally and financially. If chosen wisely, commerce students can have jobs providing high income and job security. There are various opportunities available in the current market for building a successful career being a commerce student. This blog on the top highest paying jobs in Commerce has a consolidated list of jobs that helps you better understand the commerce career.

Also Read: Best Career Options After 12th Commerce

The top 13 Highest Paying Jobs in India in Commerce

The top 13 Highest Paying Jobs in India in Commerce are as follows:

• Product Manager – ₹1,180,533/year
• Actuary – ₹992,596/year
• Investment Banker- ₹942,633/year
• Chartered Accountant – ₹808,281/year
• Certified Public Accountant – ₹693,985/year
• Chartered Financial Analyst – ₹683,057/year
• Marketing Manager – ₹677,465/year
• Retail Manager – ₹616,431/year
• Company Secretary – ₹594,366/year
• Cost Accountant – ₹593,912/year
• Research Analyst – ₹390,595/year
• Personal Financial Advisor – ₹305,209/year
• Professional Accountant – ₹249,748/year

Salary Source: Payscale

Chartered Accountant

One of the most known professions among commerce students in India is the Chartered Accountancy professional course. After successfully passing the various tests conducted by the Institute of Chartered Accountants of India ICAI, the statutory body that designates a person as a chartered accountant, and gaining experience through various internships, you can have a successful career as a CA or Chartered Accountant. A Chartered Accountant is considered one of the most respectable jobs for a commerce student in India. Multinational Companies, large Scale companies, small-scale companies, cottage industries, and start-ups are constantly in demand for well-experienced Chartered Accountants. Why? Because they can handle various important financial documents of the companies, they also ensure a constant stable flow of money and look after taxes.

Building a successful career as a Chartered Accountant is a dream for many commerce students in India, as it is one of the highest paying and most secure jobs in India for students studying Commerce as their main subject. As a fresher, an individual can expect a salary ranging between Rs. 7 to Rs. 8 lakhs per annum. 

The value of the respective starting payment increases positively as a CA gains experience over time. But there is always a cost to pay for every good thing. The CA exams conducted by the Institute of Chartered Accountants of India are considered to be one of the toughest exams. They require your heart, blood, sweat, tears, and soul to crack them because many students drop the idea of becoming a Chartered Accountant. There are many attempts available for cracking the exam, but it is said that the lower the number of attempts, the better the chance to get paid handsomely.

Investment Banker

One of the main responsibilities that you learn from being a commerce student is the ability to deal with finances. Hence, commerce students are capable of developing a plan aimed to handle the money or savings in the best possible way for any company or individual. Major companies and firms hire investment bankers to provide them with useful suggestions and recommendations, enabling the respective employer to use their money effectively and attain their desired financial goals without facing any issues or problems. It is also considered one of the highest paying jobs and considered respectable as a CA.

Investment bankers usually perform Roles such as capital market advisors for corporations and government organizations. One of the main responsibilities expected from an experienced investment banker is to raise a significant amount of funds or capital in the clients’ current capital market and serve as an advisor for other important finance-related matters. They also play a very important role in deciding the prices for the various financial services by helping the companies and organizations to analyze all the factors related to the respective service. 

Financial plans for most companies, including long-term and short-term, are developed and organized by investment bankers.

Chartered Financial Analyst

Chartered Financial Analyst is one of the most respectable positions for any individual with initial experience in investment management. Having a career as a Chartered Financial Accountant can ensure you one of the highest-paying packages. Listed below are the main responsibilities performed by a Chartered Financial Accountant: 

• Wealth management
• Equity
• Fixed income analysis 
• Credit analysis

Suppose you want to pursue a career as a CFA. In that case, you must first clear the exams, which require you to devote your time studying topics including economics, accounting, money management, security analysis, and ethics. The minimum qualifications required for the examination are that you should have a bachelor’s degree and a minimum of four years of work experience in the relevant fields. Also, CAs are preferred as there are advantages available for them. 

Certified Public Accountant

The American Institute of Certified Public Accountants, or AICPA, conducts Chartered Public Accountancy, and there is a global influence of Chartered Public Accountancy. The qualification required to build a successful career in Chartered Public Accountancy, you should have a bachelor’s degree in Business Administration or Finance or Accountancy, you should complete 150-160 hours of relevant studies, and you should clear the four-part exam.  

Actuary

Every profession has some risks related to it, and it is very important to analyze these risks to maintain the smooth functioning of the system. An actuary is responsible for analyzing the risks related to financial matters. Following are the risks are taken care of by an actuary:

• Property loss
• Disability of financial plans

They have exceptional mathematical skills and are well trained in risk management, which helps them to roughly predict the future outcomes related to the financial matters of the companies or the clients, ensuring smooth execution of the plans.  

Cost Accountant

The Cost Accountant has two main responsibilities: analyzing the profits and preparing the budget, making it one of the most important and respected jobs in the commerce field. They are financial experts, specifically managing costs, making budgets, and evaluating the company’s assets. Manufacturing firms are the regular employer of Cost Accountants. 

Professional Accountant

Professional Accountants’ responsibilities include assisting in accounting, taxation and initiating compliance, and developing reports. They should have hands-on experience with software used in accounting, such as SAP, Tally, and advanced Excel. They develop, organize and maintain records of financial matters and perform time-specified audits of the financial statements for their clients.

Retail Manager

Retail Managers assist in managing the supermarkets according to the guidelines defined by the respective business. Retail stores are under these managers, and it is their responsibility to operate these stores successfully. Having a degree in Retail management will certainly boost your career as a retail manager.

Mentioned below are a few of the responsibilities performed by Retail Managers on day-to-day aspects:

• Supervising and managing the retail store or outlet, including sales, staff, and inventory.
• Resource management

Suppose you are good at persuading the customer to buy your products and services and are aware of the marketing philosophy of the respective brand. In that case, you can easily manage to get a salary between Rs. 5 to 6 lakhs per annum.

Company Secretary

Various statutory and regulatory requirements are supposed to be followed by the company. A Company Secretary ensures that these requirements are fulfilled and ensures that the organization’s management faces no problems. Company Secretary (CS) is one of the most important and respected positions and demands a high level of intellect from the respective individual. They act as the moderator between the board and the stakeholder. Listed below are a few of the day-to-day responsibilities performed by a Company Secretary:

• Making Tax reports 
• Making reports of annual earning
• Making secure reports of account information.

It is one of the most prestigious jobs one can get in a commerce field.

The Institute of Company Secretaries of India (ICSI) provides complete training for commerce students who want to make a successful career as CS. Company Secretaries are paid around Rs. 4-6 lakhs per annum.

Personal Financial Advisor

Financial advice is very important when making a decision involving capital or money. Personal Finance advisors help their clients with such decisions. They ensure a safety plan protects clients and that their assets are invested in the right opportunities. A few of the tasks performed by a well-experienced personal finance advisor are as follows:

• Developing financial objectives
• Securing the retirement savings
• Making sure pensions are utilized properly
• Taking care of all sorts of insurance
• Handling debts.

If you want to become a respectable personal financial advisor, you have to have a degree in finance at least. Financial advisors are mostly paid around Rs. 4 lakhs per year.

Marketing Manager

A marketing manager is responsible for planning, executing, and evaluating marketing campaigns for the company. They work closely with the sales team to ensure that campaigns are targeted correctly and achieve the desired results. Other duties include managing budgets, conducting market research, creating marketing materials, and managing social media accounts. An ideal candidate should have relevant work experience in marketing, project management, and budgeting. They should be able to work independently and think creatively to solve problems. Excellent communication and writing skills are essential, as is the ability to work well under pressure.

Research Analyst

A Research Analyst’s responsibility involves collecting and analyzing data to support the organization’s research initiatives. The position requires excellent analytical and communication skills and a strong understanding of research methodology. The Research Analyst will work closely with the research team to design and implement research studies and will be responsible for ensuring that data is collected and analyzed accurately. The research analyst position involves administrative duties, such as maintaining research databases and preparing reports.

Product Manager

Product Manager is one of the top highest paying jobs in Commerce. They work closely with the engineering, marketing, and sales teams to ensure that our products meet the needs of our customers. 

Responsibilities: 

• Develop and manage the product roadmap 
• Understand customer needs and requirements 
• Work with the engineering team to develop products that meet customer needs 
• Manage product launches 
• Analyze product performance and make recommendations for improvements 
• Monitor competitor products and trends

Conclusion

The jobs mentioned above are the top 13 highest paying jobs in Commerce. The respective jobs allow you to develop better financial conditions. There are many fields in the commerce stream from which any commerce student can select and choose to build their career. These jobs are no joke; they demand a very high skill set and require the mindset to take on important responsibilities with full accountability, making it essential for you to bring in the right skills required by the respective job.

For a successful career in the job of your choice, it is very important to put the efforts in the right direction and invest yourself in the right courses, as these jobs are the highest paying jobs in the country. Without a well-planned execution, you won’t be able to achieve your desired targets. 

FAQs

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Source: GreatLearning Blog