M.Com (Masters of Commerce)
M.Com (Master of Commerce)
MCom (Master of Commerce) is a postgraduate program designed for applicants interested in banking, financial services, and insurance, as well as accountancy and commerce. The two-year program goes further into the country’s economic operation, investment, income, commerce, taxation, and other topics covered in BCom.
Because MCom is such a specialized field, this is only open to individuals who have completed BCom or BCom Honors. For CA/CS applicants, MCom is indeed a viable alternative. Nevertheless, while CA/CS programs can be studied after Class 12, not that many CA/CS hopefuls seek MCom.
MCom is preferred by prospective teachers, professors, and researchers. For MCom degree holders, UGC-NET and Ph.D. are two common possibilities. An entry test is required for MCom admissions at top universities. Some colleges provide entrance to the program on the basis of merit.
MCom Knowledge and skill Requirements
Because the master of commerce program is mostly about statistics, charts, and computations, an applicant must possess strong reasoning skills and a passion for figures.
To obtain an MCom and acquire a job in the associated industry, the essential abilities are required:
- MCom Knowledge and skill Requirements
- Good at remembering information and figures logical reasoning
- Strong analytic abilities
- Pressure-handling capability
- Math skills are strong, as are linguistic and communication skills.
- Managerial skills include a keen eye for detail.
- Understanding of the banking and finance industry, as well as computer skills
Why choose MCom (Master of Commerce)?
The MCom degrees are in fierce competition because of the economic benefits they bring to students. MCom programs are offered in a variety of formats, and the extensive specialization allows candidates to build out a specialty in a wide range of industries. After finishing the program, an applicant will be eligible for the following features:
Improved Job Prospects
The MCom program will lead to better job prospects in the term. For instance, India’s investing industry is predicted to reach USD 10 billion by 2025, creating job prospects for MCom students. Likewise, India’s commercial banking sector is predicted to grow at a rate of 8.4 percent, from USD 102.84 million by 2020 to USD 111.45 million in 2021, and USD 137.97 billion by 2025. Over the next, eight to ten years, the Banking and Financial Service Industry (BFSI), which employs MCom students, is predicted to create more than 8 million employments.
MCom candidates are employed in a variety of roles, including accounts assistants, accounting firms, stockbrokers, and so on. The mean MCom salary in India is INR 372,920 per year, with fees ranging from INR 5000 to INR 140,000. As a result, the applicants can readily repay their investments. MCom students can find work in nearly every economic sector. Dell, Infosys, and other companies are among the top recruiters of MCom students. Furthermore, there really is no upper age limit for pursuing an MCom degree.
A stepping stone
Most applicants interested in teaching as a career, particularly in the commerce field, are strongly encouraged to pursue an MCom concentration in their postgraduate level test. The MCom degree is a prerequisite for a subsequent Ph.D. program and serves as a preparatory course.
Development of Managerial Skills
The MCom Course covers a variety of topics pertaining to organizational and human resources planning. The MCom curriculum is planned in such a manner that graduates will be able to manage finances, establish a business, and devise methods to help them get through tough moments.
The MCom program offers a variety of specialties, including Economics, Finance and Accounting, Management, Software Applications, Personal Finance, and Business Administration, among others. The variety of specializations enhances work prospects.
It enables candidates to form connections with their classmates, as well as seniors, instructors, and alumni. The fundamental goal of the network is to establish references for future employment. Applicants with an MCom degree are eligible to sit for rigorous tests such as the state exam or examinations connected to accounting and finance, such as taxable income, CAG, or customs departments.
.Who should take the MCom course?
- Applicants seeking a career in business can participate in the MCom program.
- MCom programs are recommended for individuals who desire to explore various leadership roles in various businesses.
- Working professionals with a bachelor’s degree in commerce can take this distance learning strategy to help their employment prospects.
- Applicants who are dissatisfied with their bachelor’s degree in a specific field can use an MCom Specialization based on their own interests.
- Those who want to create their own firm might register in an MCom program.
The Admissions Procedure for MCom (Master of Commerce)
Entrance to the MCom program is based on ability or an entrance exam. The admissions procedures are easily understandable. You must either pass a basic exam or get a good grade in your graduation. The minimum grades necessary for various MCom specializations vary depending on the universities. The core characteristics, though, stay the same.
The following are the essential requirements for enrolling in this course:
A least 50% in BCom or BCom Honors or equivalent degree institution is required of candidates.
Many colleges also accept candidates that have earned a Bachelor’s degree in Economics and Statistics BBS, or BBE from a reputed institute with a minimum aggregate score of 60% or comparable.
In government institutions, candidates in the reserved category are eligible for up to a 5% score reduction.
MCom Admissions in 2021
- MCom enrollment is based on merits and entrance examination results.
- In the event of merit-based admissions, just the candidate’s grades at the undergraduate level will be considered.
- In some situations, students are encouraged to complete an admission exam, which would be usually a multiple-choice question test that assesses their knowledge and understanding of business.
- For entrance to the PG courses, major MCom institutions including as University Of Delhi, Banaras Hindu University, Christ University, and others have a national level exam.
- As a result, in order to get admission in an MCom program, candidates must register for the test, and performance appraisals, they are either admitted or advanced towards the next level of the interview process, which includes Counseling, Public Conversation, and Individual Interviews.
- A merit list is published, based on which pupils are offered entrance.
The following is the online registration process:
- Step 1: Go to the site and set up an account and log in to the account.
- Step 2: Thoroughly read the instructions and complete the online application form.
- Step 3: Add the relevant documents to your account.
- Step 4: When submitting the application form, double-check it.
- Step 5: Pay the application fee
M Com Different Types
M Com is one of India’s leading degree programs. The MCom program provides a variety of specialties as well as several course versions that applicants can follow based on their availability, aptitude, and qualification. The various sorts of MCom programs are mentioned further down.
The two-year Full-Time MCom program is available. In India, the full-time MCom program is perhaps the most common option.
Entrance to the M Com program Services is available based on merit or the results of an admissions test.
Christ University, University of Calcutta, and Hindu university are considered the best universities that offer M Com courses.
– Accountancy, financial planning, business administration, statistics, and other M Com specialties are available.
M Com (Part-Time)
- Part-time M Com courses are given for a two-year period.
- Academic institutions, such as Birla Global University, Nalanda Open University, etc offer the programs.
- The prices range from INR 3,400 to INR 67,500 on average.
- Admission is done on the basis of a distinction list compiled from the grades earned at the university level.
M Com at a Distance
- Professional jobs and candidates who are unable to attend school on a routine basis prefer distant MCom programs.
- Applicants should check with the Distant Board Of education and the University of Georgia before enrolling in a distance learning program.
- IGNOU, Annamalai University, Karnataka Open University, and others all provide courses.
- The cost of a program often varies from INR 5000 to INR 38,000.
- The training usually lasts between 2 and 5 years.