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Jagpreet
08 October, 2024
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The businesses that help our economy boost are all a result of the booking commerce industry. It is the engine that drives the global economy. Even the smallest retail markets in India make business and earn profits. India has now embarked on the journey to become the third-largest consumer market by 2030, where the commerce industry is expected to grow at an unprecedented rate.
This sector is so promising that it can contribute over 25% to the country’s GDP.
We are already in the process of revolutionising the economy, the country’s business sector, and its GDP. More than just a sector, commerce is a highly intriguing subject with multiple avenues.
You can even explore an MBA degree to enhance your skills further and contribute better to your job. Additionally, the job market offers an impressive return and is expected to grow exponentially. The subject provides you with more than just theoretical knowledge. It allows you to develop critical skills that can help you enhance your finances and commerce. Let us understand what you can learn if you take up an online MCom degree.
Also Read: Online MCom Course: Highlights, Details, Fee, Scope, More
Here is how an online MCom can help you enhance your skills in finance and commerce:
An online MCom programme offers advanced courses in financial management, investment analysis, and corporate finance that help students learn the tools used for making financial statements, analysing investment opportunities, and evaluating them for any risks involved. Financial analysis is an integral skill students pursuing a career in commerce and finance are expected to develop. These skills are significantly helpful in their work lives. Financial analysis also helps mitigate any potential risks that may be involved in the divisions. This allows them to find a remedy quickly, avoiding any considerable loss.
An effective strategy can only make decision-making efficient. This process involves a detailed analysis and evaluation of a business’s financial insights, which helps individuals broaden their organisational goals.
Since microeconomics and macroeconomics are essential subjects of online MCom, students get a detailed understanding of a country’s economic framework on the micro and macro levels. They learn how different industries function. How, on a smaller level, is their contribution different from the large-scale level? An online MCom helps you better understand market trends, economic policy, and their implications for business.
An online MCom often includes advanced accounting principles, auditing, and taxation training. These are essential for financial consulting and accounting. Accountancy, however, is also quite challenging, so this component often requires more practice.
Online MCom offers students several case studies and real-world financial problems and helps them gain hands-on experience in solving difficult financial challenges. Finance and commerce are more applicable in practical life than theoretically. Students must learn more and stay updated with the changing and dynamically evolving market trends influenced by the market forces of demand and supply. An essential skill they develop here is how to make a detailed analysis that involves an in-depth study of the market and its influence on businesses and different industries.
Also Read: Best Online MCom Colleges in India
Here are the top recruiters in the commerce industry you can explore.
| Top Recruiters | Salary Structure |
| Ernst & Young (EY) | INR 1.3 LPA to INR 18.4 LPA |
| Reliance Industries | INR2.6 LPA to INR9.0 LPA. |
| State Bank of India (SBI) | INR 1.3 LPA to INR 11.4 LPA |
| KPMG | INR 6.3 LPA to INR 15.4 LPA |
| Amazon | INR 6.0 LPA to INR 47.0 LPA |
Here are the top industries in the commerce sector that you can explore.
| Top Recruiters | Salary Structure |
| Telecommunications | INR 0.2 LPA to INR 11.0 LPA |
| Automobile | INR 0.2 LPA to INR 6.0 LPA |
| Textiles | INR 0.2 LPA to INR 6.0 LPA |
| FMCG (Fast-Moving Consumer Goods) | INR 1.2 LPA to INR 15.2 LPA |
| Consulting Services | INR 1.0 LPA to INR 7.2 LPA |
With an online MCom degree, students can study from home without sacrificing the quality of their education or learning objectives. This flexibility in scheduling allows them to finish coursework at their own pace. The programme aims to give students the fundamental knowledge and abilities in accounting, strategic management, and financial analysis to improve their academic standing and add substantial value to their degrees.
If you are still wondering whether an online MCom degree would be helpful, take your time because it definitely would. It has so much to offer, making it a highly versatile degree. Being provided in the online mode also makes it convenient for you to take it up. Therefore, it is a complete package and suitable for those who wish to work alongside.
Here are the top three skills you develop after studying MCom:
Financial Analysis
Strategic Management
Accounting Proficiency
Economic Research
Data Interpretation
The highest-paying jobs after studying MCom are in the following categories:
Financial Controller
Risk Manager
Yes, an MCom degree is more inclined towards business administration as it prepares skills such as accounting, finance, etc. It also significantly helps prepare individuals to use these skills in the required areas that can enhance their business performance.
The most challenging component of an MCom degree is often advanced financial accounting. It requires a more detailed understanding of accounting and mathematics.
A Master of Commerce is not a restrictive degree that confines you only to a specific set of options; therefore, here are the following undergraduate degrees that you can take into consideration:
BCom (Bachelor of Commerce)
BBA (Bachelor of Business Administration)
BBM (Bachelor of Business Management)
BA in Economics
