The commerce stream offers a wide range of career opportunities, and its relevance in today’s global economy makes it one of the most sought-after fields. Students who choose commerce as their focus can enter professions in finance, accounting, business management, and many more, often with lucrative salaries and growth potential. Whether you’re just starting your education journey or looking to make a career shift, understanding the qualifications, job roles, and earnings in the commerce field is essential for success.
In this article, we will discuss:
- The qualifications needed for a commerce career
- Job options available in the commerce stream
- Educational institutions offering degrees in commerce
- How much you can earn in different commerce-related jobs
- Steps to secure a job in the commerce field
Qualifications Required for a Career in Commerce
To build a successful career in commerce, obtaining the right educational qualifications is essential. Here’s an overview of what you may need to enter and advance in this field:
- Higher Secondary Education (A/L Commerce Stream)
- Subjects: Accounting, Business Studies, Economics, and Mathematics.
- Importance: A good performance in A/L (Advanced Level) commerce subjects is the foundation for pursuing higher education in the field.
- Bachelor’s Degree in Commerce (B.Com)
- A Bachelor of Commerce (B.Com) degree is one of the most popular undergraduate programs for commerce students. It provides a broad understanding of areas such as accounting, finance, business law, and economics.
- Duration: Typically a 3-year program.
- Eligibility: Completion of A/L commerce stream with good grades.
- Professional Courses
- After completing a B.Com or along with it, students can pursue professional courses that offer specialized qualifications in commerce:
- Chartered Accountancy (CA)
- Cost and Management Accounting (CMA)
- Certified Public Accountant (CPA)
- Company Secretary (CS)
- MBA in Finance or related fields.
- Master’s Degree (M.Com, MBA)
- After completing a bachelor’s degree, students can pursue a Master of Commerce (M.Com) or MBA (Master of Business Administration) to gain in-depth knowledge in areas like finance, business analytics, or international business.
Job Opportunities in the Commerce Stream
Commerce students have a variety of job roles to choose from based on their qualifications. Here are some of the top career options:
- Accountant
- Role: Managing financial records, preparing balance sheets, and ensuring taxes are paid on time.
- Qualifications: B.Com, CA, or CPA.
- Earnings: Accountants typically earn between $3,000 to $8,000 per month, depending on their experience and the country.
- Financial Analyst
- Role: Analyzing financial data to guide business decisions, creating forecasts, and investment analysis.
- Qualifications: B.Com, CFA (Chartered Financial Analyst), MBA in Finance.
- Earnings: Financial analysts can earn between $5,000 to $12,000 per month.
- Chartered Accountant (CA)
- Role: Handling high-level financial management, audits, and taxation for companies.
- Qualifications: Completion of the CA certification from a recognized body (e.g., Institute of Chartered Accountants of Sri Lanka or ICAI).
- Earnings: A CA can earn anywhere from $10,000 to $20,000 per month based on experience and expertise.
- Business Consultant
- Role: Advising companies on strategies, operations, and improving profitability.
- Qualifications: MBA or specialized certifications in business management.
- Earnings: Consultants can earn $8,000 to $15,000 per month.
- Company Secretary (CS)
- Role: Ensuring legal compliance, advising the board of directors, and handling corporate governance matters.
- Qualifications: Completion of the CS program from the Institute of Company Secretaries of Sri Lanka (ICSL) or an equivalent.
- Earnings: $5,000 to $12,000 per month.
- Auditor
- Role: Examining financial records and ensuring they are accurate and comply with the law.
- Qualifications: B.Com, CA, or a degree in auditing.
- Earnings: Auditors typically earn $4,000 to $10,000 per month.
- Stock Broker
- Role: Buying and selling stocks on behalf of clients, offering investment advice.
- Qualifications: B.Com, MBA in Finance, certifications like CFA or NISM.
- Earnings: Stockbrokers earn $4,000 to $15,000+ per month.
- Banker
- Role: Working in different banking departments such as retail banking, investment banking, or loan services.
- Qualifications: B.Com, MBA, or specialized banking courses.
- Earnings: Bankers earn $3,000 to $10,000+ per month, depending on the position.
Educational Institutions Offering Commerce Degrees
- University of Sri Jayewardenepura (Sri Lanka)
- Offers B.Com, M.Com, and MBA in Finance, among other related degrees.
- University of Colombo (Sri Lanka)
- Known for programs in accounting, business administration, and financial management.
- University of Peradeniya (Sri Lanka)
- Provides comprehensive commerce and management degree programs.
- London School of Economics (LSE) (International)
- Offers globally recognized degrees in finance, economics, and business.
- Indian Institutes of Management (IIMs) (India)
- Offers top-tier MBA programs for finance and management roles.
- Harvard Business School (HBS) (International)
- A world-renowned institution offering MBA and executive programs in commerce-related fields.
Steps to Secure a Job in the Commerce Field
- Complete the Necessary Education: The first step to securing a job in commerce is to complete your higher secondary education in the commerce stream, followed by a relevant degree like B.Com or professional certifications like CA or CFA.
- Internships: Gain real-world experience by pursuing internships during or after your degree. This gives you practical experience and strengthens your resume.
- Build a Strong Resume: Highlight your qualifications, internships, and any certifications. Include soft skills like communication and problem-solving, which are highly valued in the commerce field.
- Leverage Professional Networks: Join professional organizations such as the Institute of Chartered Accountants of Sri Lanka or the Sri Lanka Association of Accounting Technicians. Attend seminars and workshops to build connections.
- Job Search Platforms: Use platforms like LinkedIn, Glassdoor, and Indeed to search for job openings. Set job alerts for roles in finance, accounting, and business administration.
- Prepare for Interviews: Focus on improving your technical knowledge and problem-solving skills. Be prepared to discuss your understanding of financial management, business law, or economics during interviews.
Earnings in the Commerce Field
Commerce professionals can earn competitive salaries, with variation based on experience, qualifications, and job role. Here are some average monthly salary ranges in commerce-related jobs:
- Entry-level accountants: $3,000 to $5,000
- Chartered Accountants (CA): $10,000 to $20,000+
- Financial analysts: $5,000 to $12,000
- Stock brokers: $4,000 to $15,000+
- Business consultants: $8,000 to $15,000
- Company secretaries: $5,000 to $12,000
- Bankers: $3,000 to $10,000
Conclusion
A career in commerce offers a wide range of job opportunities, from accounting to investment banking, each with its own unique qualifications and earnings potential. By pursuing the right educational qualifications, gaining experience through internships, and networking with professionals, you can successfully land a rewarding job in the commerce field.
For those looking to start their journey, consider universities like University of Colombo or University of Sri Jayewardenepura, which offer quality education and specialized programs in commerce. Remember, the key to securing a job is a combination of qualifications, skills, and proactive job search strategies.
