Career Options In Commerce

Why Commerce?
Contrary to the perception, careers in commerce provide a
high earning and a respectable job.

Students interested in numbers and the financial aspect of

life should choose commerce.

For most part of studies, commerce requires common

sense and logic instead of rote learning
 Various Career Options
Today, there are a wide range of topics to choose from to pursue a career
as compared to few years ago. Some of them specific to the stream of
commerce are :-

1. Actuarial Science

2. Company Secretary

3. Cost and Work Accountant

4. Chartered Accountancy

5. B.Com/ B.Com (Hons.)

 Actuarial Science
An actuary is an expert in assessing the financial impacts of tomorrows uncertain events. They enable
more informed decisions.

Eligibility :-
1. Should have completed 18 years of age

2. Should have attained anyone of the following Educational Standards-

Passed 10+2 or equivalent with at least 85% in Mathematics / Statistics
Graduate or Post Graduate in Mathematics/Stats/Econometrics
Any Engineer / CA / CS / MBA (Finance) / MCA
Fully qualified members of following Professional bodies such as :-
The Institute Of Chartered Accountants of India (ICAI)
The Institute of Cost and Works Accountant of India (ICWAI)
The Institute of Financial Analyst of India (IFAI)
The Insurance Institute of India (III) passing with subjects 81- mathematical Basis of Insurance and 82-
Statistics.

3. An application should be recommended by a member of professional body like such as ICAI, ICWAI and ICSI.
Salary- Rs.6-30 Lacs per annum
 Stages Of Examination

Core Technical Core Application Specialist Technical Specialist Application

Stage Stage Stage Stage

Core Technical Stage- 8 compulsory papers (CT1-CT8) with one paper of 100 marks

Core Application Stage- 2 compulsory subjects (CA 1 to CA3), CA1 consists of two
papers whereas CA2 and CA3 shall have one paper each.

Specialist Technical Stage- 6 papers (ST1 to ST6) and the students have to choose any
two.

Specialist Application Stage- 6 papers (SA1 to SA6) and the student has to clear any
one.
 Future Prospects:
1. Insurance companies [be it private or public- life or general]

2. Firm of Consulting Actuaries

3. Authorities like IRDA, PFRDA & TAC.

4. Asset liability Management Companies

5. Large banks and Investment Firms like World Bank, ADB, etc

6. Pension Banks and Employee Benefit Companies- likely to be opened in India soon.

7. Large Capital & Turnkey Project Handling Companies

8. Software Development Companies

9. Actuarial BPO Companies

1. In addition to the above, employment opportunities are expected
to arise in future in the offices of:

2. Insurance Intermediates

3. Pension Providers other than insurance companies.

4. Education Institution (Providing Courses on Finance & Actuarial

Science)

5. Re-insurances
 Institute of Actuaries of India

Institute of Actuaries of India (IAI) is a statutory body established under

The Actuaries Act 2006 (35 of 2006) for regulation of profession of
Actuaries in India.
It is a member of the umbrella body International Actuarial Association
 Company Secretary
A CS is a person who is:-
1. An expert in corporate laws, securities laws & capital market and
corporate governance.
2. Chief advisor to the board of directors on best practices in Corporate
Governance.
3. Responsible for all regulatory compliances of company.
4. Corporate planner and strategic manager.
Stages in CS

Foundation Executive Professional

 Foundation Programme
Eligibility:-
10+2 or equivalent
Provisional admission is allowed to a candidate who has appeared or enrolled for
appearing in Senior Secondary (10+2 or equivalent) examination , provided proof of
passing the examination is produced within 6 months of making the application.

Admission- Making an application in the prescribed Form FC-1 together with

documentary evidence in support of date of birth and educational qualification.

Duration- 8 months, excluding the months of admission and the examination.

# Students are required to pass the Foundation examination within 3 years from the
date of their admission

Exemption:-
Pass in the Final examination of the ICWAI or ICAI or any other Accountancy Institution
in India or abroad recognized by the Council.
A degree or master's degree in any discipline other than Fine Arts.
 Foundation
Subjects

English and Economics Financial Elements of

Business And Accounting Business Laws
Communication Statistics (100 Marks) And Management

Elements of
Business Elements of
English Economics Statistics Business
Communication Management
(50 Marks) (50 Marks) (50 Marks) Laws
(50 Marks) (50 Marks)
(50 Marks)