Career Options For Commerce Students in Finance

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Students interchange the term Finance and Accounting, perceiving it to be a similar field of study when they are not aware of the difference between the two.
Accounting is majorly related to bookkeeping and recording any kind of transaction that will impact the profitability of the company.
While Finance is more about managing the company finances for better liquidity, returns on assets/investments, etc. Considering the industry trends and demands, we have shortlisted the top 3 career options for a commerce student in Finance.
1. CFAÂ® Course
2. FRM Course
3. MBA in Finance Course

Top 3 Career Options for Commerce Students in Finance

Chartered Financial Analyst (CFAÂ® Course)
- CFAÂ® Course Scope:
  - The CFAÂ® Certification is the best professional certification in finance and covers the subject in depth. This makes it one of the Best career options for commerce students who wish to pursue a career in the finance domain.
  - The topics covered by the CFAÂ® course are Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, Portfolio Management and Wealth Planning.
  - The CFAÂ® course covers the same topics in all the three levels but with each level the topics are covered in more depth. The other factor that makes it one of the Best career options for commerce students in Finance is the level of expertise it provides by the end of the course.
- CFAÂ® Course Duration:
  - The minimum CFAÂ® course duration is 2 years if you clear the examinations in the first attempt.
- CFAÂ® Course Eligibility:
  - To register for the CFAÂ® course a student must be any of the following:
    - A final year student
    - A graduate with a bachelor’s degree or equivalent
    - A combination of four years (or 48 months) of full-time work experience and/or college/university education on the date of registering for the Level I exam.
- CFAÂ® Course Average Salary Range:
  - The average salary range for a CFAÂ® professional is Rs.6-20 lakhs in India. The earning potential leverages multiple times if the candidate pursues a career in other countries.
- CFAÂ® Course Job Opportunities:
  - Candidates can pursue the following career after the CFAÂ® course:
    - Portfolio Manager
    - Risk Manager
    - Research Analyst
    - Financial Analyst
    - Investment Banking Analyst
    - Financial Advisor
    - Chief Executive Officer
Financial Risk Manager (FRM)
- FRM Course Scope:
  - The FRM course is designed for candidates who want to develop their analytical skills towards the different risks associated with a business such as credit risk, market risk, operations risk.
  - The FRM course covers topics like management of risk, valuation and risk models, financial markets, and products. Financial Risk Managers are in demand with banks, consulting firms, asset management companies, insurance, technology, and non-financial companies.
  - The demand for FRM professionals is high and increasing rapidly making it one of the best career options for commerce students in Finance.
- FRM Course Eligibility:
  - An undergraduate candidate is eligible to register for the FRM Part 1 exam, that means they can pursue the course after 12th.
  - The GARP has set no minimum eligibility criteria for candidates to pursue the FRM Course. This is another factor that makes it an in demand career option for commerce students in Finance.
- FRM Course Duration:
  - The minimum FRM course duration is 2 years.
- FRM Course Average salary range:
  - The average salary range for an FRM professional is Rs.6-20 lakhs in India. The earning potential leverages multiple times if the candidate pursues a career in other countries.
- FRM Course Job Opportunities:
  - Candidates can pursue the following career after FRM course:
    - Risk Management Consultant
    - Operational Risk Analyst/Manager
    - Enterprise Risk Analyst/Manager
    - Commercial Risk Analyst/Manager
    - Credit Risk Analyst/Manager
    - Market Risk Analyst/Manager
    - Regulatory Risk Analyst/Manager
    - Chief Risk Officer
Master of Business Administration (MBA in Finance course)
- MBA Finance Course Scope:
  - Unlike CFAÂ® and FRM, MBA Finance courses are offered by multiple educational institutions and universities. A student has multiple options to choose from while pursuing MBA Finance which makes it an easy career option for commerce students in Finance.
  - The syllabus for different institutions may vary a little, but the basic concepts are common. The subjects covered are Organizational Behaviour, Management Science, Quantitative Methods, Economic Environment of Business, Managerial Economics, Financial Management, Financial Accounting, Management Accounting, Marketing Management, Production and Operations Management, Human Resource Management, Management of Information System, Business Communication, Marketing Research, Information Technology Management, Organization Effectiveness and Change.
  - There are certain subjects offered as electives in the second year.
- MBA Finance Course Eligibility:
  - Students can enroll for the MBA Finance course after graduation. Students appearing for final year examinations can also apply for MBA courses but will only be admitted on obtaining a minimum of 50% marks on graduation.
- MBA Finance Course Duration:
  - The MBA Finance course duration is 2 years. MBA Finance is a postgraduate degree and not a certification course which makes it a preferred career option for commerce students in Finance.
- MBA Finance Average salary range:
  - The average salary range for an MBA Finance professional is Rs.5-10 lakhs in India.
  - Avg. salary range: 6 lacs to 10 lacs (Source: PayScale)
- MBA Finance Course Job Opportunities:
  - Candidates can pursue the following career after MBA Finance course:
    - Financial Consultant
    - Finance Manager
    - Business Analyst
    - Account Manager
    - Bank Manager
    - Corporate Controller
    - Research Analyst