Shall I pursue a master’s degree or find a good job to start my career straightway after graduation? This is a big question for graduates who have just completed their bachelor’s degree in commerce and are confused about what to do next. Even if they have clarity on getting further studies after their bachelor’s degree, they are still confused about which course to choose for a promising career, a master’s programme in MCom or a professional programme in MBA.
Both options offer different opportunities for students to further their careers. MCom enhances skills in accounting, banking, economics, and commerce-related areas, whereas MBA upgrades your managerial and operational skills.
In this post, we are considering the two very common master’s degree programmes in India - MCom vs MBA – to help students choose the best course to pursue after graduation.
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What is an MBA Programme?
Master of Business Administration (MBA) is a two-year professional degree that can be pursued after a bachelor's degree in any stream. The programme focuses on teaching business and management skills to young graduates for a stable career in different departments such as management, operations, HR, marketing, and finance. Students with an inclination for managerial and leadership roles can pursue an MBA to have a successful career in any industry or domain.
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What Do You Understand by MCom?
Master of Commerce (MCom) is a two-year postgraduate degree that is pursued by students after a bachelor’s degree in Commerce (BCom). It focuses on teaching economics, finance, accounting, and commerce in the advanced stage. Students can also specialise in areas like international business, foreign trade management, taxation, and business law. Auditors, accountants, and financial analysts are some job roles that students with MCom degrees can pursue.
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MCom vs MBA Professional: Which Should Be Your Calling?
Both MBA and MCom are postgraduate programmes that can be enrolled only after completing a bachelor's degree. In terms of cost, the MCom degree course may be lighter on your pocket as compared to the MBA. However, you must note that an MBA is a professional degree with a better scope of job and salary compared to MCom, which is a non-professional PG degree.
In terms of subjects and skills, both courses vary with MBA teaching marketing and operations management, HR management, as well as financial accounting and strategic management. On the other hand, MCom teaches commerce, business law, accounting, finance, and economics.
MBA aspirants can learn decision-making, leadership, analytical and strategic thinking, and communication skills during their two-year programme, while MCom students learn advanced aspects of commerce, business, and related fields.
Let us take a look at the benefits and career opportunities of MCom vs MBA.
Pros of Pursuing an MBA: Job Opportunities and Salary
Whether it is an MCom or MBA degree you pursue, both courses are recognised globally and offer good scope for a promising career. Students can take up any of these courses after graduation depending on their aptitude and interest. Here are some reasons/benefits of pursuing an MBA degree.
- #### Expand Professional Networks
An MBA degree helps you be a part of a huge network of experts, professors, alumni, and peers. The huge network becomes a part of your community and helps you establish relations beyond classrooms.
- #### Increased Opportunities for Lucrative Jobs
Advanced degrees like an MBA increase the scope of better career opportunities for graduates in multiple industries in varied sectors. Being skilled in widespread fields, MBA graduates are hired to help companies increase profits.
- #### Staying Updated with the Global Market
An MBA programme, online or offline, gives students a platform to connect and communicate with peers across the globe and share experiences. Students get the option to connect with world-class faculty, industry leaders, and experts to gain knowledge and stay updated with global trends and markets.
- #### Suits Individuals with Entrepreneurial Aspirations
Leadership and other MBA skills built through a management degree help entrepreneurs succeed in their businesses and fulfill their start-up dreams. These skills hone their talent and sharpen their calibre to start and grow a business.
Also Read:-10 Ways Online Degree Is Better Than Offline Degree
Below are some top career opportunities for MBA degree holders:
Management Consultant - A management consultant works towards increasing the productivity and operational effectiveness of a company by analysing data, implementing strategic solutions, and augmenting opportunities.
Salary: Rs 6.4 lakh - Rs 42 lakh per annum
Financial Advisor - A financial advisor advises companies on several aspects to help them make better investment decisions. These professionals require a robust understanding of financial planning and risk management.
Salary: Rs 1.2 lakh - Rs 9 lakh per annum
Supply Chain Manager – A supply chain manager simplifies the supply chain, limits costs, and boosts the productivity of companies via various roles like analysing data, managing relationships with clients, coordinating logistics, and more.
Salary: Rs 3 lakh - Rs 30 lakh per annum
Logistics Manager - Logistics Managers are responsible to plan and execute the flow of work in a company. They are required to oversee accounts, storage, and transportation while cutting on extra expenses.
Salary: Rs 2.4 lakh - Rs 20.2 lakh per annum
Healthcare consultant - A healthcare consultant provides consulting services to healthcare organisations and solves problems. They use skills to detect inefficiencies in organisations and offer remedies.
Salary: Rs 3.5 lakh - Rs 13.7 lakh per annum
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Pros of Pursuing MCom: Job Opportunities and Salary
MCom is a special PG course that focuses on teaching various aspects of commerce and economics in the advanced stage. This PG course offers several job opportunities in the world of commerce and business. Here are some benefits of pursuing an MCom:
- ### Increases Salary Potential
Pursuing a master's in commerce after your graduation in BCom will enhance your scope of earning better salaries and good positions in different companies.
- ### Wide career options
Your MCom degree increases your options for a career in wide-ranging fields. A PG degree equips students with skills to handle difficult situations effectively. Many industries look for MCom degree holders to work in different positions in different companies.
- ### Options of specialisation
MCom allows students to choose from a large number of specialisations. Finance, accounting, marketing, taxation, and international business are some options to choose from and align your choice as per your interests and goals.
Below are some top career opportunities for MBA degree holders:
Accountant - Accountants are required to manage financial records and transactions. They have to ensure that the transactions are accurate and in agreement with regulations. Many other roles and responsibilities are handled by accountants.
Salary: Rs 1 lakh - Rs 6 lakh per annum
Financial Analyst - Financial analysts are responsible for analysing financial data and creating reports. They recommend investment policies for businesses and firms to help them spread and grow.
Salary: Rs 2 lakh – Rs 12.3 lakh per annum
Business Consultant - A Business Consultant is a person who is expected to provide expert advice to companies to improve their operations. They advise on finance, accounting, and business management to help businesses achieve their goals.
Salary: Rs 2.2 lakh - Rs 25. 5 lakh per annum
Also Read:- 5 Amazing Tips to Help You Choose The Suitable Online Course for You
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EnrolL Now →Conclusion
Pursuing a Postgraduate degree in MBA or MCom from a leading institute opens many doors of opportunities for your future. Both degrees have their distinct value and provide numerous benefits. Pursuing an MBA or MCom degree online from a reputed and recognised university like Amity Online gives you an edge in excellent courses, world-class faculty, and several other facilities along with the best job opportunities.
Moreover, an online PG degree will help you embark on your career path and start a job immediately after graduation while pursuing your PG in MBA or MCom alongside as per your comfort. Visit Amity Online today to learn more.
