Options at 16+
Your options on leaving school or college
You have finished year 11 - so what is next? You are now faced with important choices that will shape your future, so you need to think about your options carefully. The more information you have, the better the decision you will make for you and the future.
What are the options?
- Continuing your general education at school or college
- Taking a vocational course - training for a specific job or area of work
- Starting a work-based training course (e.g. a Modern Apprenticeship)
- Finding a job (with or without training)
- Self-employment
- Voluntary work
Making these choices can seem a daunting prospect, but getting some good careers advice will make the process a lot easier. Speak to your careers advisor at school, subject teachers, family, friends, or local careers office. If you know people who are studying /doing the job you are interested in, then ask them what it is like and get advice on getting started.
Options at 18+
Having completed your 'A' level qualifications, you could find yourself at a crossroads again. Choices at this stage are even more important to your future career, so take some time to really think about your decision. Your main options are:- higher education
- vocational training
- self-employment
- a gap year
- employment with or without training
Higher education: Degree courses
There are lots of undergraduate degree courses available. Some degrees are academic while others take a more practical and vocational approach. If there is a subject you are passionate about this is a great chance for you to study it in more depth. However, you also need to think about what you want to do once you graduate - if you have a specific career in mind that may determine which courses you can consider. Make sure the course gives you the qualification you need and is approved by the relevant professional bodies.- How long will a degree course take? Most undergraduate degrees in England and Wales last for three years, though some of the vocational based courses and language degrees do take four or more, with a sandwich year to put skills into practice. Scottish degree courses generally last for four years.
- What is a sandwich course? Some degrees include an industrial placement or a year abroad. These are called sandwich courses and tend to be in the more vocational subjects (such as Engineering) or in language subjects.
- What are the entry requirements? Entry requirements vary for different courses at different universities and colleges - have a look on the Universities and Colleges Admissions Service (UCAS) website for more information (see Further Information).
- How do you apply? Application is by the UCAS application form. This can be ordered over the internet or you can apply through your school or college. Deadlines for applications vary for different courses and institutions - so make sure you check on the UCAS website and send off your application in plenty of time.
- research shows that graduates generally earn more than those who have not got a degree
- gaining a degree qualification can improve your chances of getting the job you really want
- you will find a wide range of activities, clubs and societies on offer at most universities and colleges - it is a great opportunity to meet new people and enjoy other hobbies while studying something you are really interested in
- you will have much more say about the direction your learning takes than you have had before.
Foundation Degrees
Foundation degrees combine academic study with workplace learning. They are vocationally-based and you will spend some time working in business or industry. A full-time course usually takes two years and the qualification you gain is roughly equivalent to the first two years of a bachelors degree. They are offered by universities in partnership with higher education colleges and further education colleges. Taking a Foundation Degree could lead you on to higher education or straight in to a job.
Making Career Choices
Deciding on a career path and finding a suitable job can be a daunting task. You will need to ask yourself questions such as: what do I want to do? How do I know if a job is going to be right for me? Where do I start looking?This guide will show you how to go about selecting the right career for you, where to start looking for jobs, and techniques to help you secure the job that you want.
The task of finding a career will seem a lot less overwhelming if you have a structured and methodical approach.
Self-analysis
It might sound a bit clichéd, but the first step is to get to know yourself really well. You need to stand back and take a good look at yourself before making any decisions about your future. Start by making a list of the following:
- your achievements
- your interests
- your abilities
Your achievements
While your formal qualifications are important, do not overlook your other achievements. They could play a key part in determining the right type of job for you. For example, you may have certificates, such as a Duke of Edinburgh award or a driving licence, or times you have worked well in a team or under pressure, being captain of a sports team, your position or involvement in clubs or societies.
Your interests
A job does not just have to be a source of income - it can be something you genuinely find motivating and interesting. So take some time to think about what you enjoy most in life and what gives you a feeling of satisfaction. Do you enjoy socialising and being with or helping people? Do you prefer problem-solving or pulling things apart to see how they work? Are you the creative type? Do you enjoy writing stories or poetry or designing clothes? What compliments or criticism do you get from people who know you well? What are you good at? Make a list of all of these things to help structure what it is you are looking for in a job.
Your abilities
The more often you do something, the better you will become. You are more likely to do things you enjoy regularly; your interests and abilities will often overlap. Note next to your interests what skills/abilities are involved. Your list may include some of the following: - solving problems
- artistic flair
- creative imagination
- involvement in outdoor pursuits
- using computers
- helping people
- working with numbers
- carrying out practical tasks
- working with others in a team
- leading a team
- performing scientific tasks/experiments
- listening to problems
- responding well to competition or a challenge
- good interpersonal skills - you work well with people and respond to the needs of others
- communication skills - you express yourself clearly and concisely
- good organisational skills
- IT-literate - you can use a computer to carry out tasks
- logic and reasoning skills - you are good at problem-solving
- numerate - you can work with numbers
- initiative - you can think through a problem independently
After Class 12: Career Options In Commerce Stream
When it comes to job opportunities, Commerce graduates have an edge. Explore your options in study and work!
FAST FACTSBest schools: Shri Ram College of Commerce (SRCC) Delhi, Loyola College (Chennai), St Xavier’s College (Kolkata), Presidency College (Chennai), Symbiosis Society’s College of Arts & Commerce (Pune), St. Joseph’s College Bangalore, Narsee Monjee College,BM College of Commerce (Pune) and St. Xavier’s (Mumbai)
Qualification: 10+2 in Commerce,
Our advice: Commerce is a multidisciplinary field, choose your options carefully
Qualification: 10+2 in Commerce,
Our advice: Commerce is a multidisciplinary field, choose your options carefully
WHAT do steel tycoon Lakshmi Mittal, PepsiCo Chairperson Indira Nooyi and Kinetic Motors’s Joint MD Sullaja Firoda Motwani have in common? Besides being established names, all of them are Commerce graduates.
Not that their illustrious careers were scripted while studying. But their Commerce background definitely aided in setting the stage. It familiarised them with financial foundations of a company, besides acquainting them with core financial underpinnings that result in smooth functioning of really successful corporations.
Radhika Goel, a third-year student of Delhi’s Shri Ram College of Commerce might just be a leader-in-the-making. With a high level of commitment and an enterprising attitude, she too could be trained into taking on the financial reins of a company, someday. “The course is interdisciplinary in nature,” says the BCom (Hons) student.
Saniya Seth who hails from a business family and is currently studying at Sanatan Dharma College in Chandigarh, says, “I wouldn’t like to give control of my company’s finances to any outsider.” This puts into perspective, her reason for choosing commerce.
BCom basics Commerce is a fundamental academic UG programme, besides Science, Arts, Engineering and Medicine. After completing Class 12, one can pursue Bachelor of Commerce (BCom) or Bachelor of Commerce (Hons), both three-year full-time programmes. Commerce comprises a wide range of interdisciplinary branches such as accountancy, finance, statistics, and e-commerce among others (See Box).
In the first year of her programme, Radhika had eight subjects, followed by nine and seven respectively, in the second and third year. The SRCC student chose Political Science in her second year, over Maths and English. In the third year she chose Marketing and Financial Management and Investment Management over Human Resources and Tax. So far Radhika is well versed in the concepts of microeconomics, statistics, financial accounting, business communication, business law, corporate law and auditing among other subjects. In the third year, she is understanding the theories of financial management and macroeconomics. The curriculum in most colleges is similar to Radhika’s programme.
According to Sangeeta Lala, Vice President, Sourcing, TeamLease Services, many UG colleges are integrating industry-required knowledge in their course curriculum. She explains the reason: “Better placements for students.”
Not that their illustrious careers were scripted while studying. But their Commerce background definitely aided in setting the stage. It familiarised them with financial foundations of a company, besides acquainting them with core financial underpinnings that result in smooth functioning of really successful corporations.
Radhika Goel, a third-year student of Delhi’s Shri Ram College of Commerce might just be a leader-in-the-making. With a high level of commitment and an enterprising attitude, she too could be trained into taking on the financial reins of a company, someday. “The course is interdisciplinary in nature,” says the BCom (Hons) student.
Saniya Seth who hails from a business family and is currently studying at Sanatan Dharma College in Chandigarh, says, “I wouldn’t like to give control of my company’s finances to any outsider.” This puts into perspective, her reason for choosing commerce.
BCom basics Commerce is a fundamental academic UG programme, besides Science, Arts, Engineering and Medicine. After completing Class 12, one can pursue Bachelor of Commerce (BCom) or Bachelor of Commerce (Hons), both three-year full-time programmes. Commerce comprises a wide range of interdisciplinary branches such as accountancy, finance, statistics, and e-commerce among others (See Box).
In the first year of her programme, Radhika had eight subjects, followed by nine and seven respectively, in the second and third year. The SRCC student chose Political Science in her second year, over Maths and English. In the third year she chose Marketing and Financial Management and Investment Management over Human Resources and Tax. So far Radhika is well versed in the concepts of microeconomics, statistics, financial accounting, business communication, business law, corporate law and auditing among other subjects. In the third year, she is understanding the theories of financial management and macroeconomics. The curriculum in most colleges is similar to Radhika’s programme.
According to Sangeeta Lala, Vice President, Sourcing, TeamLease Services, many UG colleges are integrating industry-required knowledge in their course curriculum. She explains the reason: “Better placements for students.”
PG level and beyondAfter graduation, you can opt for a Master’s in Commerce (MCom) from any recognised university or institute. The Faculty of Commerce and Business at Delhi School of Economics offers two PG programmes, Master’s in International Business (MIB) and Master’s in Human Resource and Organisational development (MHROD).
You can also pursue a Master’s in Finance and Control as an option in the field of Commerce at the Department of Financial Studies, South Campus, University of Delhi.
Both undergraduate and postgraduate programmes can be pursued through distance learning, such as those offered by the School of Open Learning in Delhi. Other alternatives include a Bachelor’s in Investment and Financial Accounting or Bachelor’s in Business Studies. Some colleges like the St. Francis College for Women, Hyderabad offers a BCom in Foreign Trade.
Commerce students can also join the Indian Economic Service or Indian Statistical Service. The Union Public Service Commissionconducts the entrance exam to these services in November every year
You can also pursue a Master’s in Finance and Control as an option in the field of Commerce at the Department of Financial Studies, South Campus, University of Delhi.
Both undergraduate and postgraduate programmes can be pursued through distance learning, such as those offered by the School of Open Learning in Delhi. Other alternatives include a Bachelor’s in Investment and Financial Accounting or Bachelor’s in Business Studies. Some colleges like the St. Francis College for Women, Hyderabad offers a BCom in Foreign Trade.
Commerce students can also join the Indian Economic Service or Indian Statistical Service. The Union Public Service Commissionconducts the entrance exam to these services in November every year
Complementary coursesMany BCom students pursue a professional course like CA, CWA or MBA in Finance, CFA alongside, so as to enter highly skilled professions. Saniya is doing the same, and is currently pursuing the Company Secretary (CS) course. She plans to appear for ICWA Intermediate level exams in April 2011. By then she would have given her final year BCom exam and would be entitled to forgo the Foundation Level. “The Inter-level exams are in December,” she informs.
Diploma certificates for medium-skilled jobs can also be done. For example, obtaining certification in Accounting Technician Course from ICAI. IT-based courses like Tally or Cyber security are good additional qualifications for Commerce graduates.
Saniya while working as finance assistant with ESS ESS India undertook a three-week course in Business Development and ICT Innovation from the London School of Economics in August 2009. The summer school programme in London cost her Rs 1.75 lakh, inclusive of accommodation and food. It gave her additional exposure in the field. Supplementary knowledge of stock markets, currency trading, commodity training is also helpful.
Such diploma and certification courses are offered by institutes or by the knowledge arms of organisations, themselves. National Commodities and Derivatives Exchange Ltd, for example, runs NCDEX Commodity Certification Course. National Institute of Securities Markets has a 300-hour certification programme in Financial Engineering and Risk Management with a fee of Rs 1.5 lakhs. “Cyber law and computer courses related to cyber security can also be considered,” says career counselor Jitin Chawla.
Diploma certificates for medium-skilled jobs can also be done. For example, obtaining certification in Accounting Technician Course from ICAI. IT-based courses like Tally or Cyber security are good additional qualifications for Commerce graduates.
Saniya while working as finance assistant with ESS ESS India undertook a three-week course in Business Development and ICT Innovation from the London School of Economics in August 2009. The summer school programme in London cost her Rs 1.75 lakh, inclusive of accommodation and food. It gave her additional exposure in the field. Supplementary knowledge of stock markets, currency trading, commodity training is also helpful.
Such diploma and certification courses are offered by institutes or by the knowledge arms of organisations, themselves. National Commodities and Derivatives Exchange Ltd, for example, runs NCDEX Commodity Certification Course. National Institute of Securities Markets has a 300-hour certification programme in Financial Engineering and Risk Management with a fee of Rs 1.5 lakhs. “Cyber law and computer courses related to cyber security can also be considered,” says career counselor Jitin Chawla.
Career prospectsJob opportunities exist in banks, financial institutions, outsourcing firms, insurance companies and audit firms. “A fresh Commerce graduate can start out as account assistant, in CA firm or any other small organisation,” says Jitin.
“CA practicing firms like TR Chada and Co, Thakur Vaidya Nath Aiyar and Co and Singh Suri and Co absorb a lot of BCom students. These firms usually employ grads for auditing as well as taxation assignments, accounting and research work,” says Kuldeep Singh, 31, BCom graduate and practising CA.
Corporates also recruit fresh BCom students from campuses. FMCG conglomerate HUL invited Saniya to work with their BPO and Radhika has an offer letter from Bain Capability Center, Bain India, a consultancy firm.
“Recruitment policies have changed from vertical to horizontal, a mix of graduates are required. Commerce graduates get an edge because of the existent curriculum and exposure to varied subjects,” shares Prof. KV Bhanu Murthy, HOD, Department of Commerce, Delhi School of Economics. He advises, “It is better for students to have a general degree before going into a specialised degree.”
In the banking sector, foreign banks typically prefer skilled Commerce graduates. In nationalised banks, a fresh graduate is eligible to take a Probationary Officer exam. Government offices recruit non-experienced candidates in assistant grade. “The demand for graduates is high for sales and marketing functions by banks and insurance,’ says Jitin.
Commerce graduates also work as researchers and teachers. “Eighty percent of management faculty possesses an MCom degree,” says Prof. Murthy.
“CA practicing firms like TR Chada and Co, Thakur Vaidya Nath Aiyar and Co and Singh Suri and Co absorb a lot of BCom students. These firms usually employ grads for auditing as well as taxation assignments, accounting and research work,” says Kuldeep Singh, 31, BCom graduate and practising CA.
Corporates also recruit fresh BCom students from campuses. FMCG conglomerate HUL invited Saniya to work with their BPO and Radhika has an offer letter from Bain Capability Center, Bain India, a consultancy firm.
“Recruitment policies have changed from vertical to horizontal, a mix of graduates are required. Commerce graduates get an edge because of the existent curriculum and exposure to varied subjects,” shares Prof. KV Bhanu Murthy, HOD, Department of Commerce, Delhi School of Economics. He advises, “It is better for students to have a general degree before going into a specialised degree.”
In the banking sector, foreign banks typically prefer skilled Commerce graduates. In nationalised banks, a fresh graduate is eligible to take a Probationary Officer exam. Government offices recruit non-experienced candidates in assistant grade. “The demand for graduates is high for sales and marketing functions by banks and insurance,’ says Jitin.
Commerce graduates also work as researchers and teachers. “Eighty percent of management faculty possesses an MCom degree,” says Prof. Murthy.
Accounting and countingPay packages depend on the organisations as well as area of specialisation. “The average salary students received this year was 4.25 lakh per annum,” says Dr. CS Sharma, associate professor and placement In-charge at SRCC.
Sangeeta of TeamLease Services says, salaries depend on the nature of organisation and type of job. “However, it ranges between Rs. 8,000 and Rs.16,000 per month for a fresh hire,” she says. Students with good communication skills tend to get paid better. They are ideal candidates for front-end functions such as customer service, marketing and sales. “The salary can be 20-30 percent higher,” says Jitin.
So, if you have the financial aptitude and are willing to develop further competency, be rest assured, as a Commerce student you will never be out of a job!
EXPERT TALK
Sangeeta of TeamLease Services says, salaries depend on the nature of organisation and type of job. “However, it ranges between Rs. 8,000 and Rs.16,000 per month for a fresh hire,” she says. Students with good communication skills tend to get paid better. They are ideal candidates for front-end functions such as customer service, marketing and sales. “The salary can be 20-30 percent higher,” says Jitin.
So, if you have the financial aptitude and are willing to develop further competency, be rest assured, as a Commerce student you will never be out of a job!
EXPERT TALK
I am a commerce graduate and a Fellow Member of the Institute of Chartered Accountants of India. KNOWLEDGE OF COMMERCEOf course it helped. While pursuing a course in the field of commerce, one acquires the knowledge of the business and its intrinsic nature - the basics at macro and micro level, the policies, the auditing, business administration and so much more. SCOPE OF CAREER GROWTH I personally feel there is excellent scope for commerce graduates. The general attitude of glorifying science and undermining Commerce and Humanities should stop. Commerce graduates can choose a career in accounting, audit, taxation, banking, finance, insurance, investment banking, mutual funds, capital markets, equity research and retail. SALARIESThey start in the range of Rs 2.5 – Rs 4 lakhs per annum depending on several other factors such as industry, location, etc. In recent times, major equity research/ investment bankers visit leading colleges for campus recruitments, and offer attractive packages and scope for career progression. SOFT SKILLSI believe that this is a qualifier now. Given that the current day corporate entity is truly global, it is imperative that everyone should have good communication/ presentation skills. I observe that the colleges and universities have realised the need for this, and are aligning soft skills training with academics. |
| PROF. KV BHANU MURTHY HOD, Department of Commerce Delhi School of Economics Q. What will be the next big trend in the Commerce stream?A. The next decade will bring education into the forefront. Due to expansion in commerce and management education, teaching will have great shortage in the future. Most management faculty, today, have an MCom degree. Q. What areas of Commerce are in demand?A. Finance is bound to stay along with Finance & Marketing. In E-Commerce the jobs are less. Entrepreneurship is a more viable option available. Research and Development provide a huge scope in areas like finance research. Corporate governance is a new, relevant field, too. Q. What are the skill sets required?A. You need an aptitude for numbers. The problem in Commerce study is that students do not receive training in analytical skill development. Students should be prepared to develop presentation, analytical, verbal communication and better writing skills, to excel in this field. |
| CURRICULUM AT UG LEVEL IN LEADING COLLEGES |
| BCom.i. Foundation Courses* ii. Core Papers, as prescribed in the syllabus. iii. Elective ** (one subject from list of electives) iv. NSS/ NCC/ Sports/Cultural Activities any one) v. Career Oriented and Skill Development Courses (Any one) Foundation Courses: Semester I: Hindi/ Modern European Language, English Semester II: Advanced Hindi/ Modern European Language, Advanced English Semester III: Computer Applications, Our Environment Semester IV: Information Technology, Environmental Conservation Semester V: General Studies Semester VI: Entrepreneurship and Management Electives**: Computer Applications, Tourism & Travel Management, Advertising, Sales Promotion and Sales Management, Foreign Trade Practice and Procedure, Commerce Professional. BCom Honoursi. Foundation Courses* ii. Core Papers as prescribed in the syllabus. iii. One subject as the major from the list of electives** iv. NSS/ NCC/ Sports/Cultural Activities (any one). v. Career Oriented and Skill Development Courses (any one). Foundation Courses*:Semester I Hindi/ Modern European Language, English Semester II Advanced Hindi/ Modern European Language, Advanced English Semester III Computer Applications, Our Environment Semester IV Information Technology, Environmental Conservation Semester V General Studies Semester VI Entrepreneurship and Management Electives**: Accounting and Taxation, Business Studies, Financial Studies Note: This is a model curriculum prepared by experts from a leding private university. The actual curriculum might have a combiation of papers. source: Careers360 |
