5 High-Demand Career Paths for B. Com (Hons) in Accountancy Graduates in Today’s Job Market

Are you looking for a recession-proof career? Of course, you do, who doesn’t!!!

A quality B. Com Hons in Accountancy from one of the top universities of India can shield you against recession shocks. Read on to know how and more.

B. Com (Hons) in Accountancy provides fundamental knowledge in banking, finance, management, and more. A quality commerce degree from a recognised university like Manipal University, Jaipur, can provide you with a solid foundation to embark upon a successful career in finance, law, tax, and other aspects of the Commerce field of study.

Some Quick Facts and Information

According to Statista, there has been a 60% rise in commerce graduate employability in 2023, a significant jump from 2022.

Coursera mentioned finance and company law-related jobs among the top 10 recession-proof jobs in the current wave of lay-offs and salary cuts globally.

According to LinkedIn, accounting trends in 2023 and beyond will be influenced significantly by AI, Cloud Services, Environmental, Social, and Governance (ESG) factors, and Data Protections.

These skills are one of vital elements to shortlist graduates after B. Com Hons in Accountancy for their desired job roles.

In the following section, we will explore five high-demand careers for students pursuing a Bachelor of Commerce Hons in Accounting. B. Com prepares the ground, upon which you can continue advanced studies such as CA, CS, Cost Accountant, MBA, etc., and leverage the excellent benefits of this field of study. We suggest exploring Manipal University, Jaipur, for accountancy honours that instil the best commerce education with a contemporary skillset.

5 Top-Notch Career Options after B. Com (Hons) in Accountancy

1.Financial Analyst

Key Responsibilities

Analysis of financial data, assess investment opportunities and offer recommendations to people and organisations (public and private)

Evaluation of the financial statement of the organisation

Market research and forecasting financial trends in the organisation or for clients

A strong grasp of concepts related to financial modelling and accounting principles is required.

Average Salary

The salary ranges between Rs. 2.1 LPA to Rs. 12.3 LPA with an average salary is Rs. 4.5 LPA.

2.Tax Consultant

Key Responsibilities

Tax consultants are experts in tax liabilities and tax deductions and update their clients on the same.

Preparing tax returns efficiently to reduce tax liabilities and make the financial books clean for clients

They advise on various tax-related issues such as inheritance taxation, trusts and estates, retirement taxes, etc.

They inform and explain tax implications during life events like weddings, pregnancy and others

With an emphasis on New Tax Regime during the Budget 2023-24, the work responsibility of the tax consultants has further increased. They need to guide the transformation from Old Tax Regime to New Tax Regime.

As a tax consultant, you will be responsible for overall tax planning in favour of your clients.

Average Salary: The salary for tax consultants in India ranges between Rs. 1 LPA to Rs. 10.5 LPA, and the average salary is Rs. 4.1 LPA.

Another lucrative option is practising as a tax consultant. You can start from anywhere and serve clients online. It is one of the evergreen fields of work because of obvious reasons. For better prospects, you should do advanced studies after B. Com Hons in Accountancy like CA, specialised taxation courses, etc.

3.Financial Manager

Key Responsibilities

Aggregating, interpreting, and assessing financial data and information

Analyse data to predict financial trends using AI and ML-based tools

Preparing reports and presenting before senior management and stakeholders about how should the company move further according to the available financial resources

Preparing financial reports related to account payables, budgets, account receivables, expenditures, etc

Short-term and long-term business plans according to the financial data analysis

Preparing, reviewing and monitoring budgets

Strategy to minimise financial risk and improve cloud services for better data security

Market research for trends and competitions

Average Salary

The salary for finance managers ranges between Rs. 3.2 LPA to Rs. 30 LPA, and the average salary is Rs. 12.5 LPA.

Bachelor of Commerce Hons Accounting prepares your foundation. Pursue higher studies to bag finance manager jobs at leading organisations with attractive perks and packages.

4.Forensic Accountant

Key Responsibilities

Analyse financial documents and identify inaccuracies if any

Trace the origin of inaccuracies and suggest and implement solutions

Review contracts and report losses or damages in the event of contract breaches

Investigate complex business cases to reduce financial risk

Provide litigation support and offer findings to be used as trial evidence

Ensure all accounting procedures according to legislation

Financial record audits to ensure law compliance

Keep files organised and appear in court if requires

Average Salary

The salary ranges between Rs. 1.3 LPA and Rs. 11 LPA. The average salary for Forensic Accountant is Rs. 6.5 LPA.

5.Digital Accountants

Business models are changing and becoming highly data-intensive. Finance professionals need to be digital experts to collect, segregate, analyse and come to a conclusive decision. AI, ML, Big Data, etc., have become part of every business process. Therefore, a transformation from traditional accountants to digital accountants is the logical progression of the commerce field of study.

Key Responsibilities

Understanding of technology integration in contemporary business models

Efficient data monitoring, verifying, and analysing in the digitally connected world

Comfortable with digital culture and the evolution of new-age financial tools and procedures

Traditional roles and responsibilities of an accountant

Let’s Wrap

These are trending and top career options for students pursuing B. Com Hons in Accountancy. However, you must remember B. Com is the first step, it forms the foundation and you need to build your career upon it. It means go for MBA, CA, CS, and other professional courses to bag the best job offers from top organisations (public and private).

Also, keep yourself updated with the latest trends and tech innovations for better financial management and upskill accordingly. It will enhance your career prospects, maintain your relevance, and open new brighter career avenues. Also, you can start practising and become self-employed.

Become the most sought-after finance professional with B. Com Hons in Accountancy at Manipal University, Jaipur. It is a UGC-approved institution with world-class educational infra, updated learning resources, learned faculty, and an excellent track record of placement. Explore and apply now.