For many BCom graduates, choosing the right course for their master’s degree is challenging. Looking at the range of opportunities available, the choice is indeed tough. An MCom can be a choice for some, while others may prefer to follow the MBA route for a rewarding career.
Both options offer different opportunities and you can choose the one to pursue based on your career goals. MBA upgrades your managerial and operational skills, while MCom hones your accounting, banking, and economics skills. Whatever program you choose it should align with your career goals to allow you satisfaction and a sense of fulfillment in your career.
In this post, we will walk you through MCom vs MBA programs to help you make better and more informed decisions while choosing a master’s program.
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MCom vs. MBA
Master of Commerce (MCom) and Master of Business Administration (MBA) are both PG courses that can be pursued after your bachelor’s. Both these courses can be pursued by students with a bachelor’s degree in any discipline. For MCom, students must score 45 to 50 % marks in their UG program, while for MBA an aggregate of 50 % marks is required from a recognized university.
Economics, finance, accounting, international business, foreign trade management, taxation, business law, and other commerce subjects in their advanced learning are part of an MCom curriculum. An MBA program focuses on business and management skills with specializations in management, operations, HR, marketing, finance, etc.
Differences between MCom and MBA
1. MCom vs MBA benefits: MCom enhances expertise in banking, commerce, accounting, economics, etc, whereas an MBA upgrades your managerial and operational skills. MCom is ideal for specialized careers in commerce, research, and academia, whereas MBA pushes candidates for leadership roles, holistic business know-how, and career transitions.
2. MBA vs MCom fees and duration in India: MCom is generally less expensive in terms of cost and duration compared to an MBA degree, which is more expensive. The duration of both MBA and MCom courses is two years if you pursue it on-campus. However, there may be some variation if the program is pursued online or part-time.
3. MCom vs MBA career opportunities: MCom offers specialized roles like accountants, financial analysts, and tax consultants, among others for candidates to pursue. MBA with its broader skillset and leadership opportunities allows candidates to join positions like product manager, marketing manager, business development manager, and more.
Click here to read this blog:- Can You Do an MBA After B.Com?
4. MBA or MCom which has more scope: Both the MCom and MBA degrees allow graduates to have bright career options. Finance, accounting, taxation, and banking, are some areas that are open for MCom students, while MBA provides opportunities in marketing, finance, management, consulting, and other strategic roles.
5. MCom vs. MBA - Average Salary: An Accountant after MCom earns Rs 1 lakh to Rs 6 lakh per annum. A Financial Analyst earns a salary of Rs 2 lakh to Rs 12.3 lakh per annum, while a Business Consultant after MCom earns between Rs 2.2 lakh to Rs 25. 5 lakh per annum. The salary of an MBA graduate in the role of a Management Consultant can range from Rs 6.4 lakh - Rs 42 lakh per annum. A Financial Advisor, on the other hand, earns between Rs 1.2 lakh to Rs 9 lakh per annum, while the salary of a supply chain manager is between Rs 3 lakh to Rs 30 lakh per annum.
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Conclusion
To conclude, which is better: an MCom or MBA is difficult for your higher studies since both degrees offer wide opportunities for a rewarding career. It completely depends on the aspirations and interests of candidates to choose between the two courses. However, if you consider job opportunities and salary, an MBA degree is likely to pay you a better salary and offer better career opportunities than an MCom.
Whatever program you choose, MCom or MBA after BCom, make sure it aligns with your interests and goals in life and career. Pursuing an online MBA or MCom degree from Amity University Online allows candidates excellent opportunities to gain expertise in their desired fields. It also allows candidates the opportunity to start earning immediately after graduation and manage a balance between work and studies.
