MCom, or Master of Commerce, is a postgraduate course in the field of commerce that is particularly aimed for students who want to become an expert in different fields of banking and finance.
This course is of 2 years duration and is highly regarded and very well received in the industry. The course provides quality education to the students serving the needs of managerial cadre in business and industry. It also serves the purpose of research and teaching in business studies.
MCom can only be pursued by graduate students from commerce background (BCom, BCom Hons) with a minimum of 50% aggregate secured at graduation level. This is the basic MCom eligibility that is followed in almost all the colleges and universities.
The admission process is purely based on Entrance Exams, which also consider the Bachelor’s degree marks.
The course improves logical reasoning, analytical skills, communication skills, mathematical and statistical knowledge, business management skills, teaching and research skills. Therefore, candidates who are interested in becoming teachers, lecturers, professors and pursue higher education (PhD) usually go for this course.
The average total course fee of MCom can be around INR 60,000, and can be up to INR 1,50,000 in private colleges such as Amity University, Lovely Professional University, etc.
The average starting salary can be around INR 5 LPA across private and government sectors of banking, accounting, finance and insurance.
India Today has made a list showing the best commerce colleges in India offering MCom courses.
|India Today 2019 Ranking||College Name||Admission Process||Average Fees||Average Salary|
|1||SRCC, Delhi||Entrance Exam||INR 59,000||INR 9,00,000|
|2||Hindu College, Delhi||Entrance Exam||INR 30,000||INR 5,00,000|
|5||Christ University, Bangalore||Merit + Entrance Exam||INR 1,36,000||INR 6,00,00|
|9||St. Joseph’s College of Commerce, Bangalore||Entrance Exam||INR 1,54,000||INR 6,00,000|
|10||Mithibai College of Arts, Mumbai||Entrance Exam||INR 25,000||INR 6,00,000|
Other than going into teaching and research, MCom offers a plethora of job opportunities such as Accountant, Financial Consultant, Tax Consultant, Insurance manager, Bank Manager, Investment Banker, and many more.
The most common option after MCom in India is to go for Chartered Accountancy (CA) apart from other national and internally acclaimed certification courses in the field of banking, finance, insurance, economics and management.
In case you are applying in an institute that gives merit based admission like in many private universities such as Amity, LPU, Chandigarh University, etc., then you just need to simply visit the institute’s website and fill up the online application form or visit the college and fill-up the form offline.
The online application process is as follows:
Step 1: Visit the website and register yourself and login to your account.
Step 2: Read the instructions carefully and fill up the application form.
Step 3: Upload the required documents.
Step 4: Check the application form before submitting it.
Step 5: Make the final payment of application fee.
The basic eligibility criteria to pursue this course is as follows:
Following are the top entrance exams considered for MCom admissions in India:
The exam is a university level national examination that is conducted by Banaras Hindu University (BHU) for admission into PG courses, including MCom. Every year thousands of students appear for this exam across several exam centres in India in the hope to get admission in this reputed and highly acclaimed university.
Delhi University MCom Entrance Exam:
This exam is conducted by Delhi University every year to admit the deserving candidates into its many colleges offering MCom courses. A merit list is released mentioning all the affiliated colleges’ cut off and basis on the student’s performance, he/she is granted admission into the college whose cut off is cleared.
PU CET (PG):
PU CET is a state level entrance exam conducted by Panjab University, Chandigarh for candidates seeking admission to its various PG courses and programs in different fields such as science, commerce, management, etc. Every year this offline exam is conducted in the month of May and June.
Allahabad University PGAT:
It is a state level entrance exam conducted by University of Allahabad each year to allow students to take admission to its different PG level courses. The mode of exam is usually in an offline mode whose application process starts in the month of March-April every year.
This is a national level examination regularly jointly by ten central universities. Conducted by Central University of Rajasthan (CURAJ) in the month April-May every year, this offline exam offers admission into various UG, PG, Diploma & PhD programmes of the participating universities and colleges.
It is a state level entrance exam conducted by Andhra University, Visakhapatnam offering admission in only PG courses. The affiliated colleges are Dr BR Ambedkar University, Srikakulam, along with Andhra University. This offline mode exam is usually conducted in the month of May-June every year.
It is SRM Common Admission Test conducted by SRM University for providing admissions in management, engineering and commerce courses of UG & PG level. It is an aptitude based MCQ test of 150 minutes, hence the syllabus is the same for all the courses.
MCom Entrance Exams Important Dates 2020:
|Exam Name||Exam Mode||Application Period||Exam Date||Result Declaration|
|Delhi University Entrance Exam||Online/Offline||April-May, 2020||May 2020||June-July 2020|
|BHU PET 2020||Offline||January 30-March 21, 2020||May 10, 2020||June 15-20, 2020|
|CUCET 2020||Offline||March 16-May 23, 2020||To be Declared||To be Declared|
|PUCET PG 2020||Offline||April 24-May 20, 2020||June 13-14, 2020||July 3, 2020|
|AUCET 2020||Offline||Third week of May-Third week of June, 2020||July 2020||Last week of July 2020|
How to prepare for the MCom Entrance Exams?
Most of the entrance examinations have objective type questions and are completely Aptitude Based exams. The MCom entrance test basically cover the following 4 sections:
Some exams also include graduation related questions in the paper format. The entrance exam is generally of maximum 100-200 marks. It varies from test to test.
After the entrance exams you will be screened in the group discussion and personal interview session (or counselling). If you are able to clear off all the required rounds, then a merit list will be released by the college or university based on which you shall be provided an admission.
|BHU PET MCom Syllabus||CUCET MCom Syllabus||Allahabad PGAT MCom Syllabus|
Few steps are mentioned below which you should keep in mind while preparing for MCom Exams:
|Delhi University MCom Admissions 2020||BHU MCom Admissions 2020|
|AMU MCom Admissions 2020||SRM MCom Admissions 2020|
|Course Level||Post Graduate|
|Full-Form||Master of Commerce|
|Examination type||Semester Based Examinations|
|Eligibility||45-50% in graduation from a commerce stream|
|Admission Process||Merit-based/ Entrance-based|
|Course Fee||INR 60,000-1,20,000|
|Average Salary||INR 4-6 LPA|
|Top Recruiting Companies||Accenture, E&Y, Genpact, Tech Mahindra Ltd., HDFC Bank, WNS Global services and others|
|Job Positions||Accountant, Tax Consultant, Bank PO, Accountant, Event Manager, Lecturer, Chartered Accountant, and Human Resource Development, etc.|
There are ample reasons to pursue MCom. Some of them are mentioned below:
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:
|Overview||MCom is a master’s degree focusing on accounting, commerce and economics related subjects, particularly aimed for students who are interested in research and teaching.||MBA is a course that focuses on the study related to the business environment and management system, involving many specializations such as marketing, finance, logistics, etc.|
|Full Form||Master of Commerce||Master of Business Administration|
|Suitability||Suitable for those who wish to make a career in the field of teaching and research and want to pursue higher education. It also offers many jobs in the accounts and commerce industry.||Suitable for those who are looking into making their career in the business making field and management field suitable with managerial and leadership positions.|
|Focus Area||This course mainly focuses on academic and theoretical approach.||This course is more of a professional job oriented course.|
|Average Total Fee||INR 60,000||INR 10,00,000|
|Average Salary||INR 5,00,000||INR 8,00,000|
Source: College Websites
MCom offers you a number of specialisations in the commerce field. This course covers a wide range of research and study. Few of these MCom Specialisations are discussed below:
MCom Computer Applications:
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.
|Average Fees||INR 40,000|
|Average Salary||INR 5,00,000|
|Top MCom Computer Applications Colleges in India 2020|
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.
|Average Fees||INR 1,00,000|
|Average Salary||INR 4,00,000|
|Top MCom Accounting Colleges in India 2020|
MCom Taxation course guides you 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.
|Average Fees||INR 1,20,000|
|Average Salary||INR 6,00,000|
|Top MCom Taxation Colleges in India 2020|
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.
|Average Fees||INR 2,00,000|
|Average Salary||INR 5,00,000|
|Top MCom Finance Colleges in India 2020|
MCom Human Resource Management
This specialization deals with the study of human resource development and the key areas related to the topic regarding human resource behaviour in an organization.
|Average Fees||INR 30,000|
|Average Salary||INR 4,00,000|
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.
|Average Fees||INR 80,000|
|Average Salary||INR 6,00,000|
|Top MCom Marketing Colleges in India 2020|
Source: College Websites & Payscale
The following are the top colleges that are famous and considered the best for studying MCom course in India as per the NIRF 2019 Ranking:
|NIRF Rank||College Name||Admission Mode||Average Annual Fees||Average Placement Package|
|2||Hindu College, New Delhi||Merit Based or Entrance Exam||INR 30,000||INR 5 LPA|
|3||Presidency College, Kolkata||Merit Based||INR 1700||INR 3.5 LPA|
|6||Loyola College, Chennai||Merit Based||INR 20,000||INR 5 LPA|
|7||Shri Ram College of Commerce (SRCC), New Delhi||Merit Based or Entrance Exam||INR 60,000||INR 9.48 LPA|
|9||Hansraj College, New Delhi||Merit Based or Entrance Exam||INR 35,000||INR 5.5 LPA|
|13||Madras Christian College, Chennai||Merit Based||INR 30,000||INR 3 LPA|
|39||St. Joseph’s College, Bangalore||Merit Based||INR 1,50,000||INR 3 LPA|
|58||Stella Maris College for Women, Chennai||Merit Based||IN 40,000||INR 4 LPA|
|87||Sri Guru Gobind Singh College of Commerce, New Delhi||Merit Based/ Entrance Exam based||INR 30,000||INR 6 LPA|
|Find the Best MCom Colleges in India 2020|
The table below shows significant comparison of some of the best colleges considered for MCom course:
|Parameters||Hindu College, New Delhi||Presidency College, Chennai||Loyola College, Chennai|
|Overview||It’s one of the oldest and prestigious colleges of delhi university offering UG and PG courses in all streams.||It is one of the best universities in the world with the bestest teaching methodology and education environment.||Loyola college is the institute affiliated to the university of madras. It is also famous for health care law and a medical school.|
|Average Fee||INR 44,000||INR 1700||INR 20,000|
|Average Placement Package||INR 5 LPA||INR 3.5 LPA||INR 5 LPA|
|Top companies participate in placement drives||KPMG, DE Shaw, Maruti, Jaypee, deloitte, google and others.||HDFC Bank, TATA AIG, Federal Bank. Mind tree, reliance etc||E&Y, Zoho corps, well fargo, Wipro, TCS, IBM, Amazon and others.|
Source: College Websites
One of the best things about MCom is that students have the option to pursue it through correspondence or through distance learning.
Some of the top MCom Distance Education Universities/Colleges are:
|IGNOU||New Delhi||INR 7000|
|SRM University (Distance Education)||Chennai||INR 16,000|
|IDOL Mumbai University||Mumbai||INR 12,000|
|SOL Delhi University||New Delhi||INR 10,000|
|LPU Distance Education||Jalandhar||INR 38,000|
|Mahatma Gandhi University, School of Distance Education||Kottayam||INR 5000|
|Annamalai University Distance Education||Annamalai||INR 7000|
|Karnataka State Open University (KSOU)||Mysore||INR 13,500|
Admission in these universities is usually based on the scores obtained at graduation level.
Source: Official College Websites
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 specialisation have to choose a set of elective subjects that are offered in the Master of Commerce course.
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:
|MCom Compulsory Subjects|
|Accounting and Managerial Decisions||Business Environment|
|Computer Applications in Business||Corporate Financial Accounting|
|Corporate Legal Environment||Corporate Tax Planning|
|E-Commerce||Economics of Global Trade and Finance|
|Financial Management||Management Concepts and Organization Behaviour|
|Managerial Economics||Marketing Behaviour|
|Statistical Analysis||Strategic Management|
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.
|MCom Elective Subjects|
|Banking and Finance||Entrepreneurial Management|
|Commercial Bank Management||Financial Bank Management|
|Financial Markets||Human Resource Management|
|International Finance||Investment Management|
|Research Methodology in Commerce||Income Tax|
Click on MCom Syllabus to know the full course list.
The following table shows MCom course books list that helps students to perform well in the semester end examinations:
|Name of the Book||Name of the Author|
|Principles of Accounting||Dixon Cooper, Mitchell Franklin, and Patty Graybeal|
|Business Taxation||Radhakrishnan P|
|Financial Accounting||R. Narayanaswamy|
|Cost Accounting||M.P Gupta|
|Financial Management||I.M. Pandey|
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.
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:
|Job Profile||Job Description||Average Package|
|Account Assistant||This includes maintaining ledgers, assisting customers, preparing and distributing checks, and basic bookkeeping work.||INR 2.20 LPA|
|Cost Accountant||They usually perform routine analyses to help determine the type of operations and materials that are most cost effective for the office or their organization.||INR 5.16 LPA|
|Business Consultant||Their role is to analyze the market, product lines and the overall profitability of the business.||INR 9.86 LPA|
|Investment Banker||They basically help their clients to raise money in the capital market by issuing debt or selling their equity in the companies.||INR 9.4 LPA|
|Marketing Manager||They are responsible for developing, implementing and executing the marketing plans of the organization.||INR 7.17 LPA|
|Operations Manager||They deal with the hiring procedures, setting up of targets, team management and alike.||INR 7.8 LPA|
|Finance Consultant||They help their clients in meeting their short and long term goals by advising them on tax planning, investment and retirement planning and others.||INR 3.6 LPA|
|Stock Broker||Stock Brokers usually deals with stocks and performs financial services for the company||INR 3.50 LPA|
|Assistant Professor||They are usually employed in institutes and colleges and teach the younger generations everything about commerce and conduct research at the same time.||As per Govt. Standards|
Salary Trend Graph:
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:
|PhD Economics||PhD Business Management||PhD Accountancy|
|PhD Banking & Finance||PhD Business Economics||PhD Finance|
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:
|MBA (Master of Business Administration)||PGDM (Post Graduate Diploma in Management)|
|PGPM (Post Graduate Program in Management)||Executive Fellow Program in 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 honours 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.
Ques. What are the types of MCom?
The different types of MCom are:
Ques. What opportunities do I have after completing MCom? What is the scope of MCom in India?
These courses will provide MCom students an extra edge that helps them to perform better in their career, and they have an opportunity to earn an average salary of around INR 6-12 LPA.
If you are interested in teaching, you can associate yourself with some coaching institute of classes and earn pretty well. If you want to get into lecturership then you can qualify NET exam and become a Professor in a distinguished college or institute, and earn around INR 4-10 LPA, and even more as per the government standards.
Ques. Which is better: MCom or MBA?
Students who are genuinely interested in the commerce field and want to achieve a higher position in accounting, banking or taxation, then MCom is the course that you want to pursue. But if you want to enter the field of corporate industry as a management professional and expert then MBA is the best study option for you.
Ques. Is it worth doing MCom correspondence from IGNOU?
Ques. What is the criteria for MCom admission in SRCC?
Ques. What is the passing criteria for passing IGNOU MCom?
Ques. What are the best colleges for MCom?
To know more, check Top MCom Colleges in India 2020.
Ques. Can I become a CA after doing an MCom?
Ques. Which is better, Master of Commerce or LLB?
So, it totally depends upon your interest, which master degree to choose. LLB offers greater career prospects than a simple MCom. MCom is beneficial if you are interested in higher studies and wants to go into lectureship or teaching in colleges or universities.
Ques. How many subjects are there in Master of Commerce 1st year?
Ques. What has been the highest placement package at Delhi School of Economics in MCom course?
Ques. What is the average placement in Banaras Hindu University after Master of Commerce?
Ques. Is it true that BHU PET exam date is postponed due to COVID-19 crisis?