Top 15 Highest Paying Jobs in Commerce

There are various career opportunities available in the current market for building a successful career being a commerce student.  The Top 15 of the highest paying jobs in commerce are listed in this article. The income generated from the respective job plays one of the most important roles in boosting your job satisfaction. This is why you should always look for jobs providing you with a well-balanced mixture of job satisfaction and income. Most of the opportunities provided by the commerce fields have a good combination of both the above-discussed factors. These jobs ensure that you are balanced both mentally and financially. If chosen wisely, commerce students can have jobs providing high income and job security. There are various opportunities available in the current market for a successful career as a commerce student. This blog on the top highest paying jobs in commerce has a consolidated list of jobs that helps you to understand better about the commerce career.

1. Product Manager

Product Manager is one of the top highest-paying jobs in commerce. They work closely with the engineering, marketing, and sales teams to ensure that our products meet the needs of our customers. 

How to Become a Product Manager:

Here are some steps you can follow to become a Product Manager

1. Build a foundation of skills: Product managers need a range of skills, including project management, communication, data analysis, market research, and strategic thinking. Take courses, read books and articles, and gain experience in these areas.
2. Gain experience in related fields: Product managers come from a variety of backgrounds, but many have experience in related fields such as marketing, engineering, or user experience design. Look for roles that will allow you to develop skills in these areas.
3. Develop a portfolio of work: Build a portfolio of projects that demonstrate your skills in product management. This can include side projects, freelance work, or work you’ve done in your current role.
4. Network: Build relationships with people in the industry, attend events and meetups, and join relevant online communities. This can help you learn more about the field and potentially find job opportunities.
5. Apply for product management roles: Look for job openings in product management and apply for roles that match your skills and experience. Tailor your resume and cover letter to highlight your relevant experience and accomplishments.
6. Interview well: Prepare for product management interviews by researching the company and the role, practicing common interview questions, and showcasing your relevant experience and skills.

Responsibilities of a Product Manager

• Develop and manage the product roadmap 
• Understand customer needs and requirements 
• Work with the engineering team to develop products that meet customer needs 
• Manage product launches 
• Analyze product performance and make recommendations for improvements 
• Monitor competitor products and trends

Product Manager Skills Required:

• Analytical skills.
• Research skills
• Technical expertise
• Communication skills.
• Management skills

Average Salary:

The average salary of a Product Manager in India is ₹15,00,000/year

2. Actuary

Every profession has some risks related to it, and it is very important to analyze these risks to maintain the smooth functioning of the system. An actuary is responsible for analyzing the risks related to financial matters. They have exceptional mathematical skills and are well trained in risk management, which helps them to roughly predict the future outcomes related to the financial matters of the companies or the clients, ensuring smooth execution of the plans.  

How to Become an Actuary

1. Obtain a strong educational background: Actuaries typically have a degree in mathematics, statistics, economics, or another related field. It’s important to have a strong foundation in these subjects, so focus on taking challenging courses and earning good grades.
2. Pass actuarial exams: Actuaries are required to pass a series of exams to become certified. The number of exams and the specific requirements vary depending on the certification you’re seeking. You can start taking these exams while you’re still in school or after you graduate.
3. Gain work experience: Actuaries work in a variety of industries, including insurance, consulting, and finance. Look for internships or entry-level positions that will give you experience in the field.
4. Continue learning: Actuaries need to stay up-to-date with new developments in the field. Attend conferences and seminars, read industry publications, and take additional courses or certifications as needed.
5. Build a network: Connect with other actuaries and professionals in the field. Join professional organizations and attend networking events to expand your contacts.
6. Apply for actuary jobs: Look for job openings in the field and apply for roles that match your skills and experience. Tailor your resume and cover letter to highlight your relevant experience and accomplishments.

Actuary Skills Required:

• Math Skills
• Analytical Problem-Solving Skills
• Computer Skills
• Business Skills
• Communication Skills

Average Salary

The average salary of a Product Manager in India is ₹10,07,463/year

3. Investment Banker

One of the main responsibilities that you learn from being a commerce student is the ability to deal with finances. Hence, commerce students are capable of developing a plan aimed to handle the money or savings in the best possible way for any company or individual. Major companies and firms hire investment bankers to provide them with useful suggestions and recommendations, enabling the respective employer to use their money effectively and attain their desired financial goals without facing any issues or problems. It is also considered one of the highest paying jobs and considered respectable as a CA.

How to Become an Investment Banker

1. Obtain a strong educational background: Investment bankers typically have a degree in finance, economics, or a related field. It’s important to have a strong foundation in these subjects, so focus on taking challenging courses and earning good grades.
2. Gain work experience: Investment banks look for candidates with relevant work experience, such as internships in finance or related fields. Look for internships or entry-level positions that will give you experience in financial analysis, modeling, or other relevant skills.
3. Build a network: Connect with other professionals in the field, attend industry events, and join professional organizations such as the Association for Financial Professionals (AFP) or the CFA Society. A strong network can help you find job opportunities and gain valuable insights into the industry.
4. Consider certifications: Consider earning certifications such as the Chartered Financial Analyst (CFA) designation, which can demonstrate your knowledge and commitment to the field.
5. Develop relevant skills: Investment bankers need strong analytical and communication skills, as well as the ability to work under pressure and manage multiple tasks. Seek opportunities to develop these skills, such as through case competitions, group projects, or extracurricular activities.
6. Apply for investment banking jobs: Look for job openings in investment banking and apply for roles that match your skills and experience. Tailor your resume and cover letter to highlight your relevant experience and accomplishments.

Responsibilities of an Investment Banker

Investment bankers usually perform Roles such as capital market advisors for corporations and government organizations.

• One of the main responsibilities expected from an experienced investment banker is to raise a significant amount of funds or capital in the clients’ current capital market and serve as an advisor for other important finance-related matters.
• They also play a very important role in deciding the prices for the various financial services by helping companies and organizations to analyze all the factors related to the respective service. 
• Financial plans for most companies, including long-term and short-term, are developed and organized by investment bankers.

Investment Banker Skills Required:

• Financial skills
• Analytical skills
• Communication
• Interpersonal skills
• Leadership skills

Average Salary

The average salary of a Product Manager in India is ₹966,410/year

4. Chartered Accountant

One of the most known professions among commerce students in India is the Chartered Accountancy professional course. After successfully passing the various tests conducted by the Institute of Chartered Accountants of India ICAI, the statutory body that designates a person as a chartered accountant and gaining experience through various internships, you can have a successful career as a CA or Chartered Accountant. Being a Chartered Accountant is considered one of the most respectable jobs that one can have as a commerce student in India. Multinational Companies, large Scale companies, small-scale companies, cottage industries, and start-ups all are in constant demand of well-experienced Chartered Accountants.  Why? Because they can handle various important financial documents of the companies, also ensure a constant stable flow of money and look after taxes.

Building a successful career as a Chartered Accountant is a dream for many commerce students in India, as it is one of the highest paying and most secure jobs in India for students studying commerce as their main subject. As a fresher, an individual can expect a salary ranging between Rs. 7 to Rs. 8 lakhs per annum. 

The value of the respective starting payment increases positively as a CA gains experience over time. But there is always a cost to pay for every good thing. The CA exams conducted by the Institute of Chartered Accountants of India are considered one of the toughest. They require your heart, blood, sweat, tears, and soul to crack them because many students drop the idea of becoming a Chartered Accountant. There are many attempts available for cracking the exam, but it is said that the lower the number of attempts, the better the chance to get paid handsomely.

Responsibilities of a CA

• Provide financial reporting and analysis.
• Conduct audits of financial statements.
• Advise clients on tax planning and compliance.
• Provide management consulting services.
• Investigate financial irregularities and provide expert testimony.
• Uphold ethical and professional standards.

Average Salary of a CA

The average salary of a Product Manager in India is ₹804,181/year

Chartered Accountant Skills Required:

• Analytical skills
• Problem-solving skills
• Excellent mathematical skills
• IT skills
• Organizational skills

5. Budget Analyst

A budget analyst is a professional who helps organizations and individuals understand how their money is being spent and where it could be better spent. A budget analyst may work in the private sector, for a government agency, or for a non-profit organization. Most budget analysts have at least a bachelor’s degree in business, economics, or public administration. Many also have master’s degrees. In addition, budget analysts typically have several years of experience working in budgeting or a related field.

How to Become a Budget Analyst:

• Earn a Bachelor’s degree: Most budget analyst positions require a bachelor’s degree in accounting, finance, economics, or a related field. Coursework should include accounting, statistics, economics, and finance.
• Gain work experience: Employers typically require at least 2-3 years of experience in financial analysis, budgeting, or a related field. You can gain experience by working in entry-level positions in finance or accounting, or by interning with a budget office.
• Develop analytical and technical skills: Budget analysts need strong analytical and technical skills to analyze data and prepare financial reports. You should be proficient in Excel and other financial software.
• Consider getting certified: Earning a certification, such as the Certified Government Financial Manager (CGFM) or the Certified Management Accountant (CMA) designation, can demonstrate your expertise in budgeting and financial analysis.
• Apply for budget analyst positions: You can find budget analyst positions with government agencies, non-profit organizations, and private companies. Look for job postings online or through professional associations such as the Association for Budgeting and Financial Management.
• Maintain continuing education: Budget analysts must stay up-to-date on financial regulations, policies, and trends. Continuing education through conferences, seminars, and workshops will help you stay current in your field.

Responsibilities of a Budget Analyst:

• Develop and maintain budgets for an organization or department.
• Monitor spending and ensure that it stays within the allocated budget.
• Provide financial analysis and create financial reports.
• Conduct research on economic trends and financial regulations.
• Advise management on financial issues and recommend strategies to improve financial performance.

Budget Analyst Skills Required:

• Analytical skills
• Math skills
• Communication skills
• Detail oriented
• Finance skills

Average Salary

The average salary of a Product Manager in India is ₹800,000/year

6. Certified Public Accountant

The American Institute of Certified Public Accountants, or AICPA, conducts Chartered Public Accountancy. There is a global influence of Chartered Public Accountancy. The qualification required to build a successful career in Chartered Public Accountancy, you should have a bachelor’s degree in Business Administration or Finance or Accountancy, you should complete 150-160 hours of relevant studies, and you should clear the four-part exam.  

How to Become a Certified Public Accountant

• Education: Bachelor’s degree in accounting or related field, including specific coursework in accounting.
• Work experience: One to two years of experience in accounting or related field.
• Exam: Pass the four-part Uniform CPA Exam with a minimum score of 75 on each section.
• Licensing: Complete an application, pay a fee, and provide proof of education, work experience, and passing the CPA exam.
• Continuing education: Complete a certain number of hours of continuing education each year to maintain a CPA license.

Responsibilities of Certified Public Accountant:

• Conducting audits, reviewing financial statements, and providing accounting and tax advice to clients.
• Ensuring compliance with financial reporting standards, laws, and regulations.
• Analyzing financial data, identifying trends, and making recommendations for improving financial performance.
• Managing and supervising accounting teams or departments.
• Acting as a trusted advisor to clients, providing guidance on financial planning, investments, and other financial matters.

Certified Public Accountant Skills Required:

• Excel Skills
• SQL Skills
• Analytical Skills
• Finance Skills
• Time Management

Average Salary:

The average salary of a Product Manager in India is ₹695,152/year

7. Human Resource Manager

A human resource manager is someone who is responsible for the recruitment, management, and development of an organization’s employees. The roles and responsibilities of a human resource manager can vary depending on the size and type of organization. Generally, human resource managers are responsible for recruiting, screening, interviewing, and hiring employees. They also handle employee benefits, payroll, and training. Human resource managers may also be responsible for employee discipline and termination in some organizations.

How to Become a Human Resource Manager:

• Obtain a bachelor’s degree in HR or a related field.
• Gain several years of work experience in HR roles.
• Consider obtaining professional certification such as PHR or SPHR.
• Develop strong communication and interpersonal skills.
• Stay up-to-date with HR trends and regulations.

Responsibilities of Human Resource Manager:

• Recruiting and hiring employees.
• Developing and implementing HR policies and procedures.
• Managing employee benefits and compensation.
• Training and development of employees.
• Managing employee relations and resolving conflicts.
• Ensuring compliance with labor laws and regulations.
• Developing and implementing strategies for employee retention and engagement.
• Managing employee performance and conducting evaluations.
• Developing and managing HR budgets.
• Providing guidance and support to managers and employees on HR-related matters.

Human Resource Manager Skills Required:

• Effective communication skills
• Conflict resolution skills
• Organizational skills
• Problem-solving skills
• Management Skills

Average Salary

The average salary of a Product Manager in India is ₹693,223/year

8. Chartered Financial Analyst – ₹688,033/year

Chartered Financial Analyst is one of the most respectable positions for any individual with initial experience in an investment management. Having a career as a Chartered Financial Accountant can ensure you one of the highest-paying packages. Listed below are the main responsibilities performed by a Chartered Financial Accountant: 

• Wealth management
• Equity
• Fixed income analysis 
• Credit analysis

Suppose you want to pursue a career as a CFA. In that case, you have first to clear the exams, which require you to devote your time studying topics including economics, accounting, money management, security analysis, and ethics. The minimum qualifications required for the examination are that you should have a bachelor’s degree and a minimum of four years of work experience in the relevant fields. Also, CAs are preferred as there are advantages available for them.

Chartered Financial Analyst Skills Required:

• Excel Modeling Skills
• Decision Making Skills
• Analytical Skills
• Communication Skills
• Computer Skills

9. Marketing Manager – ₹680,428/year

A marketing manager is responsible for planning, executing, and evaluating marketing campaigns for the company. They work closely with the sales team to ensure that campaigns are targeted correctly and achieve the desired results. Other duties include managing budgets, conducting market research, creating marketing materials, and managing social media accounts. An ideal candidate should have relevant work experience in marketing, project management, and budgeting. They should be able to work independently and think creatively to solve problems. Excellent communication and writing skills are essential, as is the ability to work well under pressure.

Marketing Manager Skills Required:

• Business management skills, 
• Creative thinking skills
• Problem-solving skills
• Communication skills
• Teamwork skills

10. Retail Manager – ₹614,451/year

Retail Managers assist in managing the supermarkets according to the guidelines defined by the respective business. Retail stores are under these managers, and it is their responsibility to operate these stores successfully. Having a degree in Retail management will certainly boost your career as a retail manager.

Mentioned below are a few of the responsibilities performed by Retail Managers on day-to-day aspects:

• Supervising and managing the retail store or outlet, including sales, staff, and inventory.
• Resource management

Suppose you are good at persuading the customer to buy your products and services and are aware of the marketing philosophy about the respective brand. In that case, you can easily manage to get a salary between Rs. 5 to 6 lakhs per annum.

Retail Manager Skills Required:

• Multitasking Skills
• Time management skills
• Decision-making skills
• Leadership skills
• Organizational skills

11. Company Secretary – ₹596,830/year

Various statutory and regulatory requirements are supposed to be followed by the company. A Company Secretary ensures that these requirements are fulfilled and makes sure that the organization’s management faces no problems. Company Secretary (CS) is one of the most important and respected positions and demands a high level of intellect from the respective individual. They act as the moderator between the board and the stakeholder. Listed below are a few of the day-to-day responsibilities performed by a Company Secretary:

• Making Tax reports 
• Making reports of annual earning
• Making secure reports of account information.

It is one of the most prestigious jobs one can get being in a commerce field.

The Institute of Company Secretaries of India (ICSI) provides complete training for commerce students who want to make a successful career as CS. Company Secretaries are paid handsomely, around Rs. 4-6 lakhs per annum.

Company Secretary Skills Required:

• Multitasking skills
• Planning skills
• Organisational Skills
• Effective communication skills
• Interpersonal Skills

12. Cost Accountant – ₹590,468/year

The Cost Accountant has two main responsibilities: analyzing the profits and preparing the budget, making it one of the most important and respected jobs in the commerce field. They are financial experts, specifically managing costs, making budgets, and evaluating the company’s assets. Manufacturing firms are the regular employer of Cost Accountants.

Cost Accountant Skills Required:

• Organizational skills 
• Communication skills
• Problem-solving skills
• Research Skills
• Excel Skills

13. Professional Accountant – ₹567,282 /year

Professional Accountants’ responsibilities include assisting in accounting, taxation and initiating compliance, and developing reports. They should have hands-on experience with software used in accounting, such as SAP, Tally, and advanced Excel. They develop, organize and maintain records of financial matters and perform time-specified audits of the financial statements for their clients.

Professional Accountant Skills Required:

• Proficiency in Accounting Software and Practices
• Analytical Skills
• Critical Thinking Skills
• Accounting Organizational Skills
• Time Management Skills

14. Research Analyst – ₹394,584/year

A Research Analyst’s responsibility involves collecting and analyzing data to support the organization’s research initiatives. The position requires excellent analytical and communication skills and a strong understanding of research methodology. The Research Analyst will work closely with the research team to design and implement research studies and will be responsible for ensuring that data is collected and analyzed accurately. The research analyst position involves administrative duties, such as maintaining research databases and preparing reports.

Research Analyst Skills Required:

• Analytical skills.
• Organizational skills.
• Logical reasoning ability.
• Communication skills.
• Presentation skills.

15. Personal Financial Advisor – ₹305,209/year

Financial advice is very important when making a decision involving capital or money. Personal Finance Advisor help their clients with such decisions. They ensure a safety plan protects clients and their assets are invested in the right opportunities. Few of the tasks performed by a well experienced personal finance advisor are as follows:

• Developing financial objectives
• Securing the retirement savings
• Making sure pensions are utilized properly
• Taking care of all sorts of insurance
• Handling debts.

If you want to become a respectable personal financial advisor, you have to have a degree in finance at least. Financial advisors are mostly paid around Rs. 4 lakhs per year.

Personal Financial Advisor Skills Required:

• Communication skills, 
• Interpersonal skills.
• Client Relationship skills
• Research skills
• Negotiation skills

Salary Source: Payscale

Conclusion

The jobs mentioned above are the top 13 highest paying jobs in commerce. The respective jobs allow you to develop better financial conditions. There are many fields in the commerce stream from which any commerce student can select and choose to build their career. These jobs are no joke; they demand a very high skill set and require the mindset to take on important responsibilities with full accountability, making it essential for you to bring in the right skills required by the respective job.

For making a successful career in the job of your choice, it is very important to put the efforts in the right direction and invest yourself in the right courses as these jobs are the highest paying jobs in the country. Without a well-planned execution, you won’t be able to achieve your desired targets. 

Also Read: Best Career Options After 12th Commerce

FAQs

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