If you have chosen commerce for your higher studies, you have already taken a step in the right direction. The best part about the commerce stream is that it brings a lot of career options into the fray. However, at this point, a very common question pops up. These career options we talk about – whether it is the role of a research analyst or a business development manager – require technical training. It is not a secret that any technical academic course is not exactly budget-friendly. Thus, it is mandatory to make financial planning alongside focusing on academics, and in this regard, the non-banking sector has emerged as a key player in recent times. In this article, let us take a look at how to select the perfect course, finance your education, and choose the best career path.
How to select the right course
First and foremost, it is important to select the right career path, and there is a structured way to do so:
- Self-appraisal: Understand your strengths and weaknesses, and how they align with your passion. Judge your skills with a neutral approach so that you understand which course would suit your temperament.
- Focus on long-term goals: When you choose your course, try to find out how you would be able to carry on with it in the long run. Is there scope for higher studies, and will going for it have a positive impact on your career? These are some important questions to consider.
- Study the curriculum: Before you finally decide on a career, it is important to take a careful look at the scope of the study – subjects covered, on-field exposure, and new skills acquired. Overall, if it sounds exciting to you, the course is for you.
- Take professional advice: Talk to people who have already studied the course and now have a career path you idealise. Doing this will help you set expectations and focus when academic pressure builds up.
- Identify a viable career path: It is important to have a career to pay your bills; so you must at some point think about the financial aspect of it. Get to know more about the career choices you have after studying commerce in this article, which will help you streamline your thoughts.
How to choose careers after studying commerce
Let us now take a look at some of the most lucrative job profiles that aspirants have in mind when they choose commerce.
- Chartered accountant: One of the most coveted professions, CA requires you to clear three levels of exams conducted by ICAI. Once you clear the exams, the sky is the limit when it comes to growth, as you can even have your own CA firm!
- Certified financial planner: As a CFP, you would have the opportunity to work in top banking and management companies as a financial or wealth advisor, or even a cost analyst!
- Company Secretary: To say the least, the top HR managers choose commerce after school, and after a brilliant academic performance, are placed in top companies in this prestigious role.
- Investment banker: One of the most glamorous positions on offer, this profession would guarantee your foothold as the decision maker in all your company’s major decisions, such as valuation of securities, merger negotiations, stock issuance, etc.
- Cost accountant: As a cost accountant, you will be responsible for auditing and scrutinizing financial documents. If you are good at your work, you could land your job with one of the Big 4 companies!
Financing your commerce education loan
There are a lot of financiers available in the market vying for your attention. However, you should only make your choice after carefully examining and comparing your options. These are the basic things you should check:
- Eligibility: The non-banking sector is well-known for processing customer requests as fast as possible. They can afford to do that because they are not finicky with documentation as much as large financiers. However, that does not mean they do not carry out a background check before lending out money. With cutting-edge AI technology integrated with their system units, they are more efficient than the credit-scoring method in ascertaining creditability.
- Collaterals: Certain financiers might ask you to pledge collateral against the loan amount. If the loan amount is significant and you have collateral to pledge, only then proceed with such deals. Otherwise, it is safe to opt for ones that cut a little slack in this area.
- Repayment period: It is best to read the fine print before applying for a loan from NBFCs. Calculate the amount of money you have to repay by the end of the grace period (moratorium) and plan ahead of time so that you are not put in a spot in the eleventh hour.
To sum up, choosing your career in the commerce domain can be challenging because there are so many lucrative jobs to choose from! To help you with the financial aspect of commerce courses, NBFCs compete for your attention in the online marketplace. These financiers have maintained a good growth rate over the years, and it is safe to transact with them for a perfectly customized educational loan. So, choose the right one, get into the course of your choice, and fulfil your dream!