Saurav Anand
Table of Contents
MCom, which stands for Master of Commerce, is a popular choice among individuals aspiring to become teachers/lecturers, or researchers. MCom degree holders often opt for UGC-NET/JRF or pursue a Doctor of Philosophy (Ph.D.). To secure admission into renowned universities for MCom, candidates typically have to go through an entrance examination. Some universities also offer merit-based admissions for this course. In India, MCom can be pursued as a full-time, part-time, distance, correspondence, or online program. There are approximately 3500 MCom colleges in India, including private, government, and public-private institutions.
MCom is well-suited for those who aim to build careers in the fields of Banking, Accounting, Financial, and Investment sectors. To pursue this two-year program, students should possess knowledge of economics and business. Eligibility criteria for MCom usually require completion of undergraduate studies in commerce (B.COM, BCom Honours) with a minimum grade point average of 50%. Many individuals choose the MCom degree to become teachers or lecturers. Upon completion of the MCom course, students are required to enroll in Ph.D. programs to qualify for teaching positions. Distant learning options are also available for MCom courses. Candidates who are unable to attend regular classes in person at the institute can apply for MCom Distance Admission to pursue the program remotely.
M.Com Introduction
M.Com, an abbreviation for Master of Commerce, is a postgraduate degree program that provides advanced knowledge and skills in various aspects of commerce, finance, and related fields. It is designed to equip students with a deeper understanding of business principles, financial management, accounting practices, and other essential concepts in commerce.
The M.Com program builds upon the foundational knowledge acquired during a bachelor’s degree in commerce or a related field. It offers a comprehensive curriculum that combines theoretical understanding with practical applications, preparing students for diverse roles in the business world.
During the M.Com program, students delve into subjects such as advanced accounting, financial management, business economics, business law, taxation, marketing, organizational behavior, and strategic management. Depending on the institution and program, students may have the opportunity to choose specialized elective courses tailored to their specific areas of interest. This allows them to gain in-depth knowledge in fields such as finance, accounting, international business, marketing, human resource management, and more.
M.Com programs often emphasize research and analytical skills, encouraging students to critically analyze business problems, conduct research studies, and develop strategic solutions. Many programs incorporate a research project or dissertation component, enabling students to explore a particular topic of interest and contribute to the existing body of knowledge in their chosen field.
The completion of an M.Com degree opens up numerous career opportunities in various industries and sectors. Graduates can pursue roles in finance, accounting, banking, consulting, taxation, auditing, market research, and other related fields. They may work in both the public and private sectors, contributing their expertise to corporations, financial institutions, government agencies, educational institutions, and research organizations.
Furthermore, an M.Com degree can serve as a stepping stone for further academic pursuits. Some students opt to pursue a Ph.D. in Commerce or related fields, leading to careers in academia or research, or enabling them to pursue higher-level positions in industry and consulting.
M.Com Course Highlights
Here are the highlights of an M.Com course
| Aspect | Description |
|---|---|
| Degree | M.Com (Master of Commerce) |
| Duration | Typically 2 years (full-time) |
| Eligibility | Bachelor’s degree in Commerce or related fields with a minimum percentage requirement (varies between universities) |
| Core Subjects | Financial Accounting, Managerial Accounting, Business Economics, Business Statistics, Organisational Behaviour, Business Communication, Financial Management, Marketing Management, Human Resource Management, Taxation, International Business, Research Methodology, etc. |
| Elective Subjects | Advanced Financial Reporting, Investment Analysis, Banking and Insurance, Cost Accounting, E-commerce, Corporate Governance, Entrepreneurship Development, Risk Management, International Finance, Strategic Management, Business Ethics, Supply Chain Management, etc. |
| Research Project | Conducting an independent research project in a chosen area of specialization under the guidance of a faculty member |
| Internship | Optional or mandatory internship programs to gain practical industry experience |
| Examinations | Semester-wise examinations, including mid-term and end-term exams |
| Dissertation | Writing and presenting a dissertation based on the research project |
| Career Prospects | Financial Analyst, Accountant, Auditor, Tax Consultant, Banking Professional, Investment Analyst, Business Consultant, Market Researcher, Academician, Entrepreneur, etc. |
| Further Education | Ph.D. in Commerce, Finance, Economics, or related fields |
| Professional Bodies | Association of Chartered Certified Accountants (ACCA), Institute of Cost Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), etc |
Quick Questions
Q. What is an M.Com degree?
Ans. The M.Com degree, also known as Master of Commerce, is a postgraduate academic program that focuses on advanced studies in the field of commerce, business, and finance. It is designed to provide students with in-depth knowledge and skills in various aspects of commerce and related disciplines.
M.Com programs typically offer a comprehensive curriculum that covers subjects such as financial accounting, managerial accounting, business economics, business statistics, organizational behavior, business communication, financial management, marketing management, human resource management, taxation, international business, research methodology, and more.
The M.Com program aims to develop a strong foundation in commerce principles and practices, along with a deeper understanding of business concepts and strategies. It equips students with the necessary analytical, problem-solving, and decision-making skills required in the business world.
M.Com programs often incorporate research projects, dissertations, and internships to provide practical exposure and hands-on experience. Students may have the opportunity to specialize in specific areas of commerce such as finance, accounting, marketing, international business, or entrepreneurship, depending on the offerings of the institution.
Q. Who can pursue M.Com?
Ans. M.Com is a postgraduate degree program designed for individuals who have a keen interest in the field of commerce, finance, accounting, and related areas. Here’s an overview of who can pursue M.Com:
1. Bachelor’s Degree Holders: M.Com is generally pursued after completing a bachelor’s degree in commerce or a related field. Students who have obtained a B.Com (Bachelor of Commerce) degree are often well-suited for M.Com programs. However, some universities may also accept candidates with bachelor’s degrees in subjects such as BBA (Bachelor of Business Administration), BBS (Bachelor of Business Studies), or equivalent degrees with a commerce or business focus.
2. Commerce Graduates: Graduates who have completed their bachelor’s degree in commerce or accounting-related disciplines may find M.Com to be a natural progression to further deepen their understanding and expertise in areas like accounting, finance, taxation, and business management.
3. Professionals Seeking Specialisation: M.Com also appeals to professionals who wish to enhance their knowledge and skills in specific areas of commerce. Individuals working in finance, accounting, banking, or related fields may pursue M.Com to gain advanced expertise and open up opportunities for career advancement.
4. Aspiring Academics and Researchers: M.Com can be an ideal choice for individuals interested in pursuing an academic or research-oriented career in commerce. Those who aspire to become professors, researchers, or pursue doctoral studies (Ph.D.) may choose to pursue M.Com as a stepping stone towards their academic goals.
Q. What is the scope of M.Com?
Ans. The scope of M.Com is quite broad and offers a range of career opportunities across various sectors.
1. Finance and Accounting: M.Com graduates often find ample opportunities in finance and accounting roles. They can work in areas such as financial analysis, financial planning, investment banking, corporate finance, risk management, auditing, taxation, and financial consulting. With their advanced knowledge of finance and accounting principles, M.Com graduates can contribute to financial decision-making, analyze financial data, and ensure compliance with regulations.
2. Banking and Financial Services: The banking and financial services sector provides numerous career opportunities for M.Com graduates. They can pursue roles in commercial banking, investment banking, wealth management, insurance, mutual funds, and financial advisory services. M.Com graduates possess the necessary skills to assess creditworthiness, evaluate investment opportunities, manage portfolios, and provide financial advice to clients.
3. Corporate Sector: M.Com graduates are well-equipped to take up various positions within the corporate sector. They can work in finance departments, handling tasks related to financial reporting, budgeting, cost analysis, and financial control. Additionally, M.Com graduates can contribute to strategic decision-making, mergers and acquisitions, and corporate governance.
4. Government and Public Sector: There are opportunities for M.Com graduates in government departments, public sector enterprises, and regulatory bodies. They can work in roles related to financial management, auditing, taxation, public finance, and policy analysis. M.Com graduates can contribute to budget planning, financial reporting, and implementing financial policies in the public sector.
5. Research and Academia: M.Com graduates with a passion for research and teaching can pursue careers in academia or research institutions. They can opt for doctoral studies (Ph.D.) and become professors, researchers, or subject matter experts in commerce-related disciplines. M.Com graduates can conduct research, publish papers, and contribute to the advancement of knowledge in their chosen fields.
6. Entrepreneurship and Consulting: M.Com graduates with an entrepreneurial spirit can establish their own businesses or consultancy firms. They can leverage their knowledge in finance, accounting, and business management to provide consulting services to clients, assist in financial planning, and offer expertise in areas such as taxation, auditing, and financial analysis.
Q. What are the benefits of M.Com?
Ans. Pursuing an M.Com degree offers several benefits that can positively impact your career and personal growth. Here are some key benefits of pursuing an M.Com:
1. Advanced Knowledge and Specialisation: M.Com programs provide in-depth knowledge and specialization in commerce-related disciplines. You gain a deeper understanding of subjects such as finance, accounting, taxation, marketing, economics, and business management. This advanced knowledge enhances your expertise and makes you more competitive in the job market.
2. Career Advancement Opportunities: An M.Com degree can open doors to higher-level positions and greater career opportunities. It equips you with specialized skills that are valued in fields such as finance, accounting, banking, consulting, and more. The advanced knowledge and expertise gained during the program can make you eligible for managerial and leadership roles within organizations.
3. Industry Relevance and Practical Skills: M.Com programs often incorporate practical components, case studies, and industry-relevant projects. This helps you develop practical skills that are directly applicable to real-world business scenarios. You gain hands-on experience in areas such as financial analysis, business strategy, data interpretation, and decision-making, making you better prepared to tackle challenges in your chosen field.
4. Networking and Professional Connections: During your M.Com program, you have the opportunity to interact with faculty members, fellow students, and industry professionals. This networking can lead to valuable connections and potential mentorship opportunities. Building a strong professional network can enhance your career prospects, open doors for collaborations, and provide access to job opportunities.
5. Personal and Professional Growth: Pursuing an M.Com degree involves academic rigor, independent research, critical thinking, and problem-solving. These aspects contribute to your personal and intellectual growth. The program hones your analytical skills, improves your ability to handle complex business situations, and enhances your communication and presentation skills.
6. Increased Earning Potential: Higher education qualifications such as an M.Com degree are often associated with increased earning potential. Graduates with an M.Com degree are typically eligible for better-paying job positions compared to those with only a bachelor’s degree. Your advanced knowledge and specialization can command a higher salary in the job market.
7. Pathway to Further Education: An M.Com degree can serve as a stepping stone for further academic pursuits, such as pursuing a Ph.D. in Commerce or related fields. This enables you to delve deeper into research, contribute to academia, and explore teaching or research-oriented career paths.
M.Com Admission Process
The admission process for M.Com programs typically involves several steps. While specific procedures may vary between universities and countries, here is a general overview of the typical admission process for M.Com:
1. Research and Shortlisting: Begin by researching universities or institutions offering M.Com programs. Consider factors such as reputation, accreditation, faculty expertise, curriculum, and available specializations. Shortlist the universities that align with your preferences and career goals.
2. Meeting Eligibility Criteria: Ensure that you meet the eligibility criteria set by the universities you wish to apply to. This includes holding a relevant bachelor’s degree, meeting the minimum percentage/GPA requirements, and fulfilling any other specific criteria such as entrance exams or English proficiency tests.
3. Application Submission: Complete the application form provided by the university. Submit all the required documents, including educational transcripts, mark sheets, degree certificates, identification proof, and any other documents specified by the university. Pay attention to the application deadlines set by the universities.
4. Entrance Exams (if applicable): If the university requires an entrance exam for M.Com admissions, prepare for and appear in the exam. Follow the instructions provided by the university regarding exam registration, syllabus, and exam dates. Prepare well in advance by reviewing commerce-related subjects, general knowledge, and quantitative aptitude.
5. Selection Process: After the application submission and entrance exam (if applicable), universities typically conduct a selection process. This may involve evaluating the submitted documents, assessing entrance exam scores (if applicable), and considering other factors such as academic performance, work experience, and interview performance (if applicable).
6. Merit List and Admission Offer: Universities usually publish a merit list or notification of selected candidates based on the selection process. If you are selected, you will receive an admission offer letter from the university. Carefully review the offer letter for any conditions or requirements and follow the instructions provided to confirm your acceptance.
7. Fee Payment and Enrolment: Once you accept the admission offer, you will need to pay the required fees within the specified deadline. This may include tuition fees, registration fees, and any other applicable charges. After fee payment, complete the enrolment process by submitting any additional documents, forms, or information as requested by the university.
M.Com Eligibility Criteria
The eligibility criteria for M.Com can vary slightly between universities and countries.
1. Bachelor’s Degree: Candidates must have a bachelor’s degree in commerce or a related field from a recognized university or institution. The most common requirement is a Bachelor of Commerce (B.Com) degree. Some universities may also accept degrees such as Bachelor of Business Administration (BBA) or Bachelor of Business Studies (BBS) with a commerce or business focus.
2. Minimum Percentage/GPA: Many universities have a minimum percentage or grade point average (GPA) requirement for admission into their M.Com programs. This minimum percentage or GPA varies among institutions and can range from 45% to 55% or higher, depending on the university’s criteria.
3. Entrance Exams: Some universities may conduct entrance exams for M.Com admissions. These exams assess the candidate’s aptitude in areas such as commerce, accounting, economics, and general knowledge. The specific entrance exam and its weightage in the admission process can vary between institutions.
4. English Proficiency: Since M.Com programs are typically taught in English, universities may require candidates to demonstrate proficiency in the English language. This requirement can be fulfilled through standardized tests such as TOEFL (Test of English as a Foreign Language) or IELTS (International English Language Testing System).
M.Com Syllabus
The syllabus of an M.Com (Master of Commerce) can vary between universities and countries.
1. Advanced Financial Accounting
2. Corporate Accounting
3. Cost Accounting
4. Business Statistics and Research Methods
5. Managerial Economics
6. Business Environment and International Business
7. Financial Management
8. Marketing Management
9. Human Resource Management
10. Organisational Behaviour
11. Business Ethics and Corporate Governance
12. Business Law and Taxation
13. Strategic Management
14. Entrepreneurship and Small Business Management
15. Research Methodology and Dissertation
Additionally, M.Com programs may incorporate case studies, practical assignments, projects, and research work to provide students with hands-on experience and opportunities to apply their knowledge to real-world scenarios.
M.Com Top Government Colleges
| College | Location | Average Fees |
|---|---|---|
| Delhi School of Economics | Delhi, India | INR 10,000 – INR 20,000 |
| Madras School of Economics | Chennai, India | INR 5,000 – INR 15,000 |
| University of Mumbai | Mumbai, India | INR 15,000 – INR 25,000 |
| University of Calcutta | Kolkata, India | INR 5,000 – INR 10,000 |
| Osmania University | Hyderabad, India | INR 10,000 – INR 20,000 |
| Banaras Hindu University | Varanasi, India | INR 15,000 – INR 30,000 |
| University of Madras | Chennai, India | INR 5,000 – INR 15,000 |
| University of Delhi | Delhi, India | INR 10,000 – INR 20,000 |
| University of Calicut | Calicut, India | INR 10,000 – INR 15,000 |
| University of Pune | Pune, India | INR 10,000 – INR 20,00 |
M.Com Top Private Colleges
| College Name | Location | Approximate Fees (INR) |
|---|---|---|
| St. Xavier’s College, Mumbai | Mumbai, Maharashtra | 1,00,000 – 1,50,000 |
| Loyola College, Chennai | Chennai, Tamil Nadu | 50,000 – 1,00,000 |
| Christ University, Bangalore | Bangalore, Karnataka | 1,50,000 – 2,00,000 |
| NMIMS University, Mumbai | Mumbai, Maharashtra | 2,00,000 – 2,50,000 |
| Symbiosis College of Arts and Commerce | Pune, Maharashtra | 80,000 – 1,20,000 |
| Narsee Monjee College of Commerce | Mumbai, Maharashtra | 1,50,000 – 2,00,000 |
| HR College of Commerce and Economics | Mumbai, Maharashtra | 1,00,000 – 1,50,000 |
| St. Joseph’s College, Bangalore | Bangalore, Karnataka | 50,000 – 80,000 |
| Madras Christian College, Chennai | Chennai, Tamil Nadu | 50,000 – 80,000 |
| Mount Carmel College, Bangalore | Bangalore, Karnataka | 80,000 – 1,00,000 |
M.Com Career Opportunities
1. Financial Analyst: M.Com graduates can work as financial analysts, analyzing financial data, preparing reports, and providing recommendations to help organizations make informed investment decisions.
2. Accountant: M.Com graduates often pursue careers as accountants, managing financial records, preparing tax returns, and ensuring compliance with financial regulations.
3. Financial Manager: With their strong financial background, M.Com graduates can take up roles as financial managers, overseeing the financial operations of organizations, developing budgets, and making strategic financial decisions.
4. Investment Banker: M.Com graduates with a strong understanding of finance can explore opportunities in investment banking, where they can assist companies in raising capital, mergers and acquisitions, and financial advisory services.
5. Auditor: M.Com graduates can work as auditors, examining financial statements, assessing internal controls, and ensuring financial compliance within organizations.
6. Tax Consultant: With their knowledge of taxation laws, M.Com graduates can work as tax consultants, helping individuals and businesses optimize their tax strategies and comply with tax regulations.
7. Business Analyst: M.Com graduates can pursue careers as business analysts, analyzing market trends, conducting feasibility studies, and providing insights to support strategic decision-making within organizations.
8. Risk Manager: M.Com graduates can work as risk managers, identifying and evaluating potential risks faced by organizations, and developing strategies to mitigate those risks.
9. Financial Planner: M.Com graduates with strong knowledge of financial planning can become financial planners, assisting individuals and businesses in setting financial goals, developing investment plans, and managing their assets.
10. Entrepreneurship: M.Com graduates can also consider starting their business ventures, leveraging their commerce and finance skills to establish and manage successful enterprises.
M.Com Government Jobs
Government jobs after M.Com are;
1. Banking Sector: Many government-owned banks and financial institutions recruit M.Com graduates for positions such as Probationary Officer, Clerk, Specialist Officer, and Assistant Manager.
2. Public Sector Undertakings (PSUs): PSUs like Oil and Natural Gas Corporation (ONGC), Bharat Heavy Electrical Limited (BHEL), and National Thermal Power Corporation (NTPC) often hire M.Com graduates for finance and accounting roles.
3. Government Accountant: You can consider working as a government accountant in various government departments, such as the Controller General of Accounts (CGA) or the Finance Department.
4. Taxation Department: Opportunities exist in the taxation departments of the government at the central and state levels. You can work as a tax officer or tax inspector, enforcing tax laws and ensuring compliance.
5. Staff Selection Commission (SSC): SSC conducts various exams for government job recruitment. M.Com graduates can appear for exams like Combined Graduate Level (CGL) and Combined Higher Secondary Level (CHSL) to secure positions in government offices.
6. Railway Recruitment Board (RRB): RRB conducts exams for various positions in the Indian Railways. M.Com graduates can apply for posts related to finance and accounting within the railway departments.
7. State Public Service Commissions (PSC): Each state has its own PSC that conducts exams for government job recruitment within that state. M.Com graduates can apply for positions like Accounts Officer, Assistant Commissioner, or Tax Officer.
8. Research and Policy Institutions: Government research institutions and policy-making bodies often have opportunities for M.Com graduates to work on economic research, financial analysis, and policy formulation.
M.Com Salary
Salary of an M.Com graduate;
1. Financial Analyst: The salary range for financial analysts in India can vary from around INR 4,00,000 to INR 10,00,000 per year, depending on experience and the organization they work for.
2. Accountant: Accountants can expect a salary range of approximately INR 3,00,000 to INR 8,00,000 per year, depending on factors such as job level, industry, and location.
3. Financial Manager: The salary range for financial managers is typically higher, with averages ranging from INR 7,00,000 to INR 15,00,000 per year, depending on the organization and level of responsibility.
4. Investment Banker: Investment bankers often earn significant salaries in India, with ranges starting from around INR 8,00,000 and going up to several million rupees per year, including bonuses and commissions.
5. Auditor: The salary range for auditors in India can vary from approximately INR 3,00,000 to INR 9,00,000 per year, depending on factors such as experience, organization, and location.
6. Tax Consultant: The salary range for tax consultants in India can vary from around INR 4,00,000 to INR 10,00,000 per year, with higher salaries for experienced professionals working in reputed firms.
Frequently Asked Questions about M.Com
Q. What is the difference between B.Com and M.Com?
Ans. B.Com (Bachelor of Commerce) is an undergraduate degree that provides foundational knowledge in commerce-related subjects, while M.Com is a postgraduate degree that offers advanced studies and specialization in commerce, finance, accounting, and related fields.
Q. Can I pursue an M.Com degree without a B.Com degree?
Ans. While a B.Com degree is the most common pathway for admission to an M.Com program, some universities may accept students with a bachelor’s degree in a related field, such as Economics or Business Administration. The specific eligibility criteria may vary across institutions.
Q. Is it necessary to have a commerce background to pursue an M.Com degree?
Ans. While a commerce background is beneficial for pursuing an M.Com degree, it is not always mandatory. Some universities may admit students from diverse academic backgrounds, provided they meet the eligibility criteria and demonstrate a strong interest in commerce-related subjects.
Q. What is the scope of M.Com in terms of job opportunities?
Ans. M.Com graduates have a wide range of job opportunities in various sectors. They can pursue careers as financial analysts, accountants, auditors, tax consultants, financial managers, business analysts, investment bankers, and more. The scope of job opportunities may vary based on individual specialization, skills, and market conditions.
Q. Can I pursue an M.Com degree through distance learning or online mode?
Ans. Yes, many universities and institutions offer M.Com programs through distance learning or online mode. These programs provide flexibility for working professionals or individuals who cannot attend regular classroom-based programs. It is important to ensure that the program is recognized and accredited by the appropriate authorities.
Q. What are the entrance exams for M.Com admissions in India?
Ans. Some universities or institutes in India conduct entrance exams for M.Com admissions, while others may admit students based on merit or qualifying examinations. Common entrance exams for M.Com admissions include DUET (Delhi University Entrance Test), BHU PET (Banaras Hindu University Postgraduate Entrance Test), and various state-level entrance exams.
Q. Can I pursue a Ph.D. after completing an M.Com degree?
Ans. Yes, after completing an M.Com degree, you can pursue a Ph.D. (Doctor of Philosophy) in Commerce or a related field. A Ph.D. allows for advanced research and academic career opportunities in universities, research institutions, and colleges.
Q. What is the average duration of an M.Com program?
Ans. The duration of an M.Com program is typically two years for regular full-time programs. However, some universities may offer one-year accelerated programs or part-time options that can have different duration.
