Master Of Commerce – M.com

What is Master of Commerce (M.Com)?

Master of Commerce (M.Com) is a postgraduate degree, which deals with commerce, accounting, management, and economics. The two-year degree course opens career opportunities in the corporate and finance sectors. It offers specialization in accounting, taxation, finance, and human resource management. This is a four-semester choice based credit system course and has approval from UGC. After completing a two-year course, students get an academic degree from the respective university which is designated as a Master of Commerce.

Master of Commerce (M.Com) course is considered as an entry point for professions like chartered accountancy, company secretary, cost and work accountancy, and insurance and banking services. One can also pursue higher studies and become the lecturer and assistant professor at universities. In this article, we will discuss M Com full form, M Com general subjects, eligibility, admission, career opportunities.

What is M com full form?

M Com full form is of Master of Commerce, is a postgraduate course in the field of commerce. Major candidates who complete graduation with B.Com proceed with M.Com. It is one of the most prominent courses for commerce background students.

Highlights

Types of MCom 

MCom is one of the most popular academic courses in India. The MCom course offers the opportunities for a number of specializations as well as different variants of the course that can be pursued by the candidates according to their time, ability and eligibility. The different types of MCom courses have been discussed below.

Full-time MCom 

• The Full Time MCom courses are offered for a duration of two years. The full-time MCom course is the most popular form of MCom course in India
• Admission to MCom Courses are done on the basis of merit or entrance exam.
• The top colleges offering MCom courses in India are Hindu College, Christ University, University of Calcutta, etc.
• Mcom Specialization includes Accounting and Finance, financial management, Business management, statistics , etc.

Part-Time MCom 

• The part time MCom courses are available for a duration of 2 years.
• The courses are available from different colleges such as Birla Global University, Nalanda Open University, ICFAI Dimapur, etc.
• The average fees range between INR 3,400- INR 67,500.
• The admissions are provided on the basis of Merit list that is prepared from the marks obtained at the graduation level

 Distance MCom 

• The distance MCom courses are popular amongst working professionals or aspirants who cannot attend classes on a regular basis.
• The candidates before pursuing the distance education course should see that the courses are validated by the Distance Education Board and UGC.
• The courses are offered by IGNOU, Lovely Professional University, Annamalai University, Karnataka State Open University, and many more.
• The average course fee ranges between INR 5000-INR 38,000.
• The average duration idf the course is 2-5 years

MCom vs MBA 

MCom (Master of Commerce) and MBA (Master of Business Administration) are two separate courses that have their own benefits. It totally depends on your qualification background and area of interest to select one of this course. 

Some of the key differences of these courses are mentioned below:

Source: College Websites

MCom Distance Education

MCom Distance Education is one of the most lucrative courses that is available to aspirants who are unable to pursue the degree in regular mode. The candidates before taking admission to MCom Distance education course should check whether the course is accredited by Distance Education Board (DEB) and UGC or not. 

MCom Distance Education Admission 2023 

The minimum eligibility criteria for admission to MCom distance education course is that the candidates should pass their graduation with a minimum score of 50% in most cases. The admission to the top colleges are done mainly on the basis of merit list from the score obtained in the graduation level. 

Applications are mostly online, but colleges also have the option to apply in an offline mode with the submission of all necessary documents such as marksheets, scores, degree certificates, etc.

The detailed information of MCom distance admission of different colleges has been listed below:

MCom From IGNOU 

• The duration of MCom from IGNOU is 2 to 5 years
• The average M.Com course fee is INR 11,000.
• There is no upper age limit for pursuing MCom from IGNOU.
• The course offers regular teleconferencing for regular guidance.
• Graduates from any discipline from any recognized university are eligible to study this course.

Check: Top Part Time MCom Colleges in India

 MCom From Annamalai University

• The Course is recognised by the UGC and it can be used as a valid certificate for government or private employment.
• MCom admission is provided for different specialisations such as Finance and accounting, marketing Management, Computer application,etc.
• The Admissions are done on the basis of merit list.
• The average course fee is INR 7000.

MCom from LPU Distance Education 

• The minimum duration of the course varies from 2-4 Years.
• The candidates should pass B.Com, BBA, BSc (Economics), BA (Commerce), or any other graduation with Mathematics or economics as one of the subjects. 
• The course fee is INR 9,650 per semester.
• The admission are done on the basis of merit list.

 MCom Distance Education Top Colleges 

Some of the top MCom Distance Education Universities/Colleges are:

MCom Syllabus

The MCom syllabus is divided into 4 semesters. The M.Com subjects of different MCom specializations vary accordingly. There are a number of subjects that are offered in the MCom course, however, during the first year of the program, the same set of MCom subjects are taught to the students in all the course specializations. In the second year, students opting for specialization have to choose a set of elective subjects that are offered in the Master of Commerce course. In some cases the candidates are required to undertake internship projects in the final semester.

MCom Subjects 

The MCom syllabus and course curriculum of the majority of the colleges in the country is almost the same with a little bit of variation. 

Both the common compulsory and elective MCom subjects are listed below:

The following table shows some of the common elective subjects and courses in Master of Commerce. These subjects are generally offered to students in the later semesters.

Click on MCom Syllabus to know the full course list. 

MCom Top Books

The following table shows MCom course books list that helps students to perform well in the semester end examinations:

MCom Specialisation 

The different MCom specialization has been tabulated below. The top MCom specialization will be described in the following section.

MCom Accounting and Finance 

MCom Accounting and Finance is the course that focuses more on the accounting sector & Finances of the economy. It provides you with the detailed study of accounting principles and other finance related subjects. Mount Carmel College, NIMS University, etc, offer this MCom course that offers great career opportunities in the accounting field and alike.

Check: MCom Accounting and Finance Colleges in India

MCom Computer Application

Computer applications give you both theoretical knowledge and practical exposure to the computer applications world. This zone is more concerned with the software designed to help users to get easy accessibility of applications. MCom Computer Applications can be pursued form colleges such as NIMS University, Annamalai University, Kakatiya University, etc.

Check: Top MCom Computer Applications Colleges in India 2023

MCom Taxation 

MCom Taxation course guides candidates on taxation problems, tax related literature, tax reviews and others. After this course completion you can get into jobs like financial analyst, tax collectors, business analyst and alike.

Also see: Top MCom Taxation Colleges in India 2023

MCom Marketing 

Marketing is widely pursued and used in the field of business and management. MCom Marketing usually involves a practical based project and provides all the technical knowledge and skills needed for marketing in the field of commerce and finance.

MCom Banking and Finance 

MCom Banking and Finance is a 2 years post graduate course that offers the candidates in-depth knowledge about the banking procedure, laws, financial management, etc. The candidates after completing the MCom in Banking and Finance can land job opportunity in different profiles such as treasurer, loan counsellor, sales officers and many more

Check Out: MCom Banking and Finance Colleges

MCom Economics

MCom Economics is one of the most pursued specializations of the MCom Course. The course allows the candidates to understand about the various microeconomic as well as macroeconomic parameters. The MCom Economics course allows the candidates to understand the various fiscal and monetary policies. 

Check Out: Top MCom Economics colleges in India

MCom Finance 

MCom Finance deals with the financial issues of the organization like budgeting and other finance related issues. It covers subjects such as Financial Accounting and Packages, Banking & Technology, Insurance and Risk Management, Portfolio Management, etc.

Check out: Top MCom Finance Colleges in India 2023

MCom Colleges in India

The MCom colleges according to their city wise location.

Delhi 

The Top MCom colleges in Delhi has been listed below 

Mumbai

The top MCom Colleges in Mumbai are

Chennai 

List of MCom colleges in Chennai has been tabulated below

Bangalore 

List of MCom colleges in Bangalore has been tabulated below

Hyderabad 

List of MCom colleges in Hyderabad has been tabulated below

Pune 

The following are list of some of the nest MCom colleges in Pune

Kolkata 

List of MCom colleges in Kolkata has been tabulated below

Top MCom Colleges: Highest Placements in India

College Comparison

The table below shows a significant comparison of some of the best colleges considered for MCom course:

 MCom Abroad 

MCom or similar courses are taught in the top foreign nations such as the USA, New Zealand, Canada and Australia.

The courses are more expensive than the courses that are provided in India. 

The eligibility criteria for the courses varies from one nation to another. However, some of the eligibility criteria of the course remains the same

• The candidates should complete their 12th or equivalent exam with good marks.
• The candidates should pass their english proficiency exam such as IELTS, TOEFL, etc.
• The candidates have to qualify for the GRE exam as it is mandatory for some universities and colleges.
• The candidates need to produce a letter of intent in some cases.
• Candidates need to provide 2 references.
• Some colleges require the candidate to qualify their entrance exam and personal interview.

USA 

New Zealand 

Canada 

 Australia 

MCom College Ranking

The Mcom College rankings are done by different government and private agencies based on different parameters. The MCom college ranking by NIRF and India Today has been listed below.

MCom College NIRF ranking 

MCom Jobs & Career

After being awarded the MCom degree, candidates can either look for jobs in various departments or opt for certification courses such as CA, CFA, CMA, ACCA, etc. 

• The areas in the private sector that are open to a MCom graduate include Accounting, Consumer durable industry, Telecom industry, Banking, and Insurance Industry, Automobile industry, BPO industry, Media industry, Retail industry and a lot more.
• MCom course graduates may start as a Sales Officer, Accounts Manager, Finance Manager, Company Law Assistant, Cost Accountant, Financial Advisor, Financial Consultant, Tax Consultant, etc. 

Students have a plethora of job opportunities in government as well as private sectors to choose from provided that they are not limited to careers in accounts, finance and banking.

Some of the prominent MCom Jobs available to the postgraduates are:

Source: Payscale

MCom Salary Trend Graph:

Top Recruiter

The following are the top recruiters for the MCom Graduates 

MCom Scope

Commerce sector is ever increasing due to the digitalization of the world. Banking and Finance are the top employment areas for students after an MCom degree. Majority of students are preparing for CA (Chartered Accountancy), CMA (Certified Management Accountant) and other highly acclaimed national and international certification courses in the field of finance and accounting.

Following are the list of courses that are usually pursued after MCom:

• Doctor of Philosophy (PhD): 

PhD is the highest degree that one can pursue after completing a master degree course. Hence, after MCom, students can pursue this research based degree which can take upto 3-5 years to complete. Admission is based on entrance exams such as NET and other equivalent national level or university level examinations. This is considered a best option for students who are interested in lectureship and fellowship.

In the field of commerce, students can opt for one of the following PhD degrees:

• Management Courses:

As we all know, management is one field that requires top industry professionals and managers to excel. There are many management courses that are available at master level. Admission is based on entrance exams such as CAT, MAT, XAT, GMAT, GRE, CMAT and other management entrance exams. 

They provide a plethora of job opportunities and better career prospects in different high paying fields such as management, finance, international business, business analytics, supply chain, logistics, healthcare management, and many more. 

Following are the top master level or higher management courses that MCom students are eligible to pursue to enter the demanding field of management:

• Bachelor of Law (LLB):

It is the only recognized law degree that should be used only if you want to become a legal expert or enter the field of legal studies and management. LLB is of 3 years and offers great career prospects such as Lawyer, Advocate, Legal Expert, Corporate Lawyer, Legal Consultant, Government Lawyer, etc. The salary in the law fields increases with experience and knowledge.

The following list shows the top certification courses that students can puruse after MCom to have a great career in the field of accountancy, finance, and economics, both in India and Abroad:

• Chartered Accountancy (CA)

CA is highly pursued by most of the Indian students from commerce background because of the financial stability, career respect and higher paying job options. The average salary range of a CA is around INR 7-20 LPA in India according to Payscale.

• Certified Management Accountant (CMA)

If you are highly interested in working globally in the account management field, then opting this course is the best option. CMA is offered by the Institute of Management Accountants (IMA), USA and offers a great deal of career prospects. The Average Salary after this course is around INR 5-20 LPA in India, and upto INR 30 LPA in the US.

• Chartered Financial Analyst (CFA)

CFA is one of the most respected and difficult courses to qualify. It is one of the best certification courses out there in the world, providing and regulating higher standards of education in the field of finance. Students are required to qualify three levels of examinations in order to officially work as a CFA. The average salary of around INR 4-25 LPA can be expected after this course in India.

• Certified Financial Planner (CFP)

CFP is again one of the highly pursued courses after BCom honors to officially work as a Financial Consultant in India. The certification provides an extra edge to the candidates and provides better compensation in the industry. The average salary can be around INR 4-15 LPA, and even more in some scenarios after relevant experience and successful client base, if you are working independently.

• Public Accounting (CPA)

US certified Public Accountant is one of the highest certifications that you can earn in the US, that can help you to uplift your career globally in the field of accounting. The average salary can be around INR 7-20 LPA in India after qualifying this certification.

• Financial Risk Manager (FRM)

If you are interested in risk management and its allied fields, then you should pursue FRM. It is a globally recognized certification for finance and banking professionals by Global Association of Risk Professionals (GARP, USA). The average salary can be around INR 10-17 LPA in India and even more in the US.

• Association of Chartered Certified Accountants (ACCA)

ACCA is one of the fastest growing organizations that is particularly aimed for accountants in the world. After joining ACCA, students have great career prospects in India and all over the world, and there are opportunities to bag a salary of around INR 6-16 LPA, and above.

M.Com Admissions

The Admission To M.Com Is Based On The Merit Of A Bachelor’s Degree In Commerce - B.Com From A Recognized University Or College. It Is Also Based On An Entrance Exam. The Admission Process Of The M.Com, In Brief, Is Given Below.

Selected Candidates Have To Report To The College/university/institute And Complete The Admission Process, Which Includes, Document Verification And Fee Payment.

Based On The Entrance Test Result, Candidates Are Invited For The Counselling/interview.

Candidates Have To Appear For The Entrance Test Conducted By The University Or College.

Some Of The Universities/colleges Conduct The Entrance Test.

Candidates Will Be Shortlisted Based On The Merit Of The Qualifying Exam - B.Com.

They Can Also Download The Filled In Application Form And Send It To The Concerned Department Of The University/college Along With Required Documents And Receipt Of Application Fee Payment.

Eligible Candidates Are Required To Submit Their Application Online At The College Or University’s Website Along With Scanned Copies Of The Required Documents. They Have To Pay The Application Fee Online.

M.Com Eligibility

M.Com Is A Popular Course Among Students. To Get An Admission To M.Com, Candidates Are Required To Have Minimum Qualifying Marks At Bachelor’s Degree Level. The Detailed Admission Process Is Given Below:

The Candidates Must Have Passed A Degree In Bachelor Of Commerce (B.Com) From A Recognised University, With A Minimum Of 50 Per Cent.

Admission To An M.Com Is On The Basis Of The Score Obtained At The Degree Course - B.Com And The Availability Of Seats.

Popular Entrance Examination For M.Com

There Are Entrance Exams Conducted By Many Colleges In India For Admission To The M.Com Course. Here Is A List Of Some Of The Popular Entrance Courses Conducted By Universities:

• AUCET
• CUET
• MAJU
• PU CET (PG)
• DUET
• BHU PET

A Quick Glance At The M.Com Entrance Course

The Gateway To Top Universities Is The Entrance Exam. The Top M.Com Colleges In India Conduct Entrance Exams As A Means To Decide The Final Merit List. The Entrance Exam Is A Basis Of Merit For The Candidate To Be Granted Admission. The Cut-off For Entrance Exams May Vary According To Universities. Here Is A Quick Overview Of The M.Com Entrance Exam:

• The Entrance Exam Is Generally Conducted Offline.
• The Examination Is For 2.5 Hours.
• The Questions Are Of Objective Type, With A Total Of 100 Marks.
• The Exam Focuses On Qualitative Ability, Data Interpretation And Computer Skills.

Preparation Tips For M.Com

Here Are Some Of The Preparation Listed Below:

Make Sure To Keep Your Computer Practice On Point: The Key Element Is Never To Lose Computer Practice Skills And Keep Yourself Updated With The Latest Financial Gizmos.

Get Advice And Consultation Regarding Syllabus: Make Sure You Know What The Syllabus Is All About And If In Doubt Consult With Seniors Or Advisors.

Take A Month-Long Preparation: Make Sure To Keep A Month’s Gap For Proper Preparation. Note What You Need To Study And Practice And Start Working On It.

Why MCom? 

The MCom courses are in high demand due to the financial benefits it provides to the candidates. The MCom courses are available in different modes and the large amount of specialization allows the candidates to carve a niche among the different industries. The following are the advantages a candidate can avail after the completion of M.Com:

• New Job opportunities:  The MCom course will provide improved job opportunities in the future. For example, the investment sector in India is expected to grow up to USD 1 trillion by 2025, thus providing employment opportunities for the MCom graduates. Similarly, the investment banking sector in India is expected to grow from USD 102.84 billion in 2020, to 111.45 Billion in 2021 at a CAGR of 8.4 %, and would reach USD 137.97 Billion by 2025. The Banking and Financial Service Industry (BFSI) which hires MCom graduates is expected to generate over 8 million jobs in the next 8-10 years.
• Robust Salary:The MCom candidates are absorbed in different positions such as Account assistant, cost accountants, investment bankers, etc. The average MCom salary in India is INR INR 372,913 per annum, whereas the average fee ranges between INR 5000-INR 140,000. Hence, the candidates are able to recoup their investment easily. MCom graduates have job opportunities in almost every sector of the economy. Some of the top recruiters of MCom graduates are Capgemini, Dell, Infosys and others. Moreover, there is no age bar to pursue an MCom degree.
• A safety net: Most of the MCom candidates pursue other professional courses such as Chartered Accountant (CA), Company Secretary or CFA. The reason is that these professional courses are tougher to pass. For example only 6% of the total candidates have passed both the group of CA exams. And the passing percentage of the CFA course is between 42-54 %. So if anything goes wrong the candidates would have something to fall back on.
• A stepping stone: Most of the candidates who wish to take up teaching as a profession, especially in the commerce section, are heavily inclined in taking up a MCom specialization in their post graduate level exam. The MCom course is necessary for taking up the PhD programs in the future and serves as a preparatory course.
• Development of Managerial Skills: The MCom Syllabus includes different subjects related to management of the organisation and its people. The MCom syllabus is curated in such a way that the candidates equipped with skills to handle the finance, growth of company, create strategies to tide over difficult situation
• MCom Specialization: The MCom course offers a large number of specialisations that includes streams such as Finance, Accounting and Finance, Marketing, Computer application, Financial management, business management, etc. The different specialization improves the job prospect.
• It allows the candidates to build up their networks with different batch mates as well as seniors, professors and alumni. The main idea behind networking is the creation of references for future jobs.
• MCom qualification allows candidates to appear for competitive exams like civil services exam or exam related to finance and accounting requirements like income tax, CAG or excise departments.