Highest Salary Jobs for Commerce Students
Commerce is one of the curriculum subjects available to high school students worldwide. However, despite its practical usefulness, many parents prefer their children to become science inclined students, even when they do not have the aptitude for science. Most such parents have a wrong belief that subjects like commerce will narrow the job prospects of their kids or restrict them to low-paying jobs in future.
Well, commerce students should be encouraged to know that there are several high salary jobs in this thrilling field. Just make sure you work extra hard to pass your exams with flying colours, and the doors to career success will surely open.
List of Highest Salary Jobs for Commerce Students
Here are List of Highest Salary Jobs for Commerce Students :
- Chief Executive Officer (CEO). Annual Average Salary: USD156,161
- Chief Financial Officer (CFO). Average Salary: USD139,558
- Investment Banker. Average Annual Salary: USD101,378
- Actuary. Average Annual Salary: USD98,782
- Chartered Financial Analyst (CFA) Average salary: USD81,661
- Chartered Accountant (CA). Average Annual Salary: USD80,000
- Company/Corporate Secretary. Average Annual Salary: USD72,349
- Certified Public Accountant (CPA). Average Annual Salary: USD70,175
- Marketing Manager. Average Annual Salary: USD67,724
- Cost Accountant, Average Annual Salary: USD58,405
Chief Executive Officer (CEO). Annual Average Salary: USD156,161
The CEO position is the ultimate in any organisation, a private corporation or government parastatal. In other words, the CEO is the highest-ranking executive in an organisation, i.e. the person supervising all activities in a business organisation. The enormous powers of the CEO include overseeing hiring and firing, equipment maintenance, salaries payment, public relations/corporate social responsibility, chairing company meetings, and making or approving other critical management decisions that impact the company's fortunes. In a nutshell, the CEO is the official face and voice of the company and the most important decision-maker in terms of its daily operations.
Because of the business orientation of the course, commerce students are bound to make good CEOs in any business organisation. And suppose you polish your leadership, management, and business skills further with an MBA or an MSc reputable institution worldwide. In that case, nothing should stop you from becoming an excellent CEO.
People appointed CEOs often have long, successful careers (either in the private or public sectors or both) littered with remarkable achievements. A company CEO is usually set by the Board of Directors of the company (albeit a single majority shareholder can influence such appointments). Many companies have their founders double as the CEO. In government agencies under democracy, CEOs are usually appointed by the head of the executive branch of government. However, some appointments may sometimes require legislative approval or endorsement.
Because of their experience, importance, and enormous responsibilities, CEOs enjoy handsome remuneration that is second to none among the staff in any organisation.
Chief Financial Officer (CFO). Average Salary: USD139,558
The CFO is usually the highest-ranking financial employee in a company. He is responsible for managing all aspects of its finances and maintaining its fiscal health. His vast duties include financial planning, income and expenditure management, budgeting, financial risk management, ensuring the implementation of sound finance and accounting principles, preparation of financial statements/reports, keeping a record of the company's finances, acting as finance spokesperson/analyst, and supervising the entire finance department, among others.
A CFO is also responsible for developing a robust and secure fintech policy to facilitate online transactions in these internet times. A CFO is similar to a finance controller or treasurer since they all have to do with finance/accounts management.
When it comes to organisational hierarchy, the CFO usually reports to the CEO, whom he can assist in several areas such as forecasting, cost-benefit analysis, and fundraising. CFOs are often people with higher finance degrees such as MSc, PhD, MBA. Many are also members of professional organisations that confer essential certifications such as CFA, CA, CPA, and others.
Investment Banker. Average Annual Salary: USD101,378
Investment banking is one career a commerce student should thrive in very comfortably. This is because the study of banks and other financial institutions are essential components of the commerce curriculum. An investment banker is a bank employee or staff of an investment banking department of a non-bank company that offers consultancy services to individual investors, companies, governments, etc.
Though these consultancy services are often in the area of investments, they may extend into other areas within the broad financial services field. Investment bankers' services include helping in issuing stocks (including IPOs), bonds, or other capital-raising schemes, providing crucial advice on things like mergers and acquisitions, savings, and other areas their clients may need their input.
Actuary. Average Annual Salary: USD98,782
Actuaries are professionals that use mathematical and statistical models to improve financial decision-making via the provision of actionable analysis about the probability of risk and future uncertainty. Though not as popular as some other jobs on this list, it is one of the highest-paying jobs for commerce students.
Apart from attractive remuneration, another advantage of taking up this job is that your services will not be restricted to the financial services sector since companies outside finance all contend with risk/uncertainty and therefore could use some expert advice about coping with them.
Chartered Financial Analyst (CFA) Average salary: USD81,661
Anyone you see with a CFA tag deserves some respect because they have sat for and passed one of the world's toughest exams – the CFA charter tests of the CFA Institute. These very rigorous tests are divided into three levels: economics, finance, and accounting, e,g., money and investments management, security analysis, and ethics.
There are over 175,000 CFA charter holders in 160 markets worldwide. Many of them earn a decent income in global giants such as JP Morgan, Morgan Stanley, and Goldman Sachs.
Chartered Accountant (CA). Average Annual Salary: USD80,000
A Chartered Accountant (CA) is an accounting professional awarded an internationally recognised accounting certification by a competent organisation in any part of the world. This organisation is known as the Institute of Chartered Accountants of India (ICAI) in India. It was established by the Chartered Accountants Act of 1949. In the United States, chartered accountants are known as Chartered Public Accountants (CPA).
To qualify as a chartered accountant in India, you must sit for and pass ICAI's CA exam.
The exam comes in three different levels:
- CA Foundation
- CA Intermediate
- CA Final
Before you become eligible for the CA Foundation course, you should have scaled through Class 12 or passed an equivalent examination administered by the central or state education boards. A candidate must be successful in all three examination levels before certification as a chartered accountant.
Company/Corporate Secretary. Average Annual Salary: USD72,349
Company secretaries perform a vast number of legally recognised roles that ensure the smooth functioning of every department in an organisation. For example, they have the power to sign and authenticate documents such as financial statements and reports, keep records, manage statutory books, write/provide minutes of company meetings, write applications for increments in share capital, etc.
A company secretary may be seen as the knot that ties most company activities together for enhanced efficiency. Suppose you are a commerce student who is not afraid to simultaneously take up many essential duties. In that case, this is one job you should consider.
Certified Public Accountant (CPA). Average Annual Salary: USD70,175
A Certified Public Accountant (CPA) is an accounting professional in the US who has undergone formal education or training. The career scope for a CPA is quite diverse. For instance, a CPA can work for the government or a private company or set up their own office to provide consultancy services.
A CPA (or CFA and CA) can easily occupy higher executive positions such as CFO in company career progression. CPAs are very comfortable with all aspects of accounting, for instance, auditing, bookkeeping, cost accounting, forensic accounting, budgeting, managerial accounting, financial accounting, and information technology, among others.
Marketing Manager. Average Annual Salary: USD67,724
Marketing departments are often the central income-generating units in profit-oriented organisations. Therefore, their value in attaining company goals cannot be over-emphasized. It is the marketing manager's job to ensure that all products (and services) offered by the company are branded efficiently and promoted and marketed effectively.
In these days of digital technologies, the job scope in the marketing career path has expanded significantly. All you need to do to be a digital marketer is to enrol in one or more digital marketing courses to add to the knowledge you have garnered as a commerce student. Marketing is one of the central themes of commerce, so a career in this field for a commerce student will be like a duck taking to water.
Cost Accountant, Average Annual Salary: USD58,405
Cost accountants are finance experts who analyse the costs of a company's products (and services). This may include scrutinising supply chain expenses and profitability analyses, to mention a few. These roles help them identify waste and the least profitable areas of a business to make amends. This essential service stimulates the relatively high demand for cost accountants in the labour market.
List of Highest Salary Jobs for Commerce Students Without Maths
Most students are afraid to choose commerce without maths after 10th grade because they fear it will hinder their career options. While commerce involves some number crunching, the above fear should not arise because there are a good number of little or non-math tertiary courses a student can opt for. These courses will lead to jobs that are no less lucrative for career prospects and the reward for labour.
Take a look at some of such jobs and their salaries below.
TOP 10 Career in Commerce
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Investment Banker
- Chartered Financial Analyst (CFA)
- Chartered Accountant
- Company/Corporate Secretary
- Certified Public Accountant
- Marketing Manager
- Cost Accountant
Commerce is an exciting subject that holds significant promise for career prospects. Hence, the preference for sciences among parents due to the alleged narrow scope of commerce is misplaced. Every society needs great scientists, but great business leaders and entrepreneurs are influential. Hence commerce students should be encouraged to forge ahead with or without math since their earning potential can compete favourably with those in other subjects.
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