Commerce is a field of study focusing on finance-related areas such as monetary sources, investment, and accountancy. Technological developments have transformed the commerce sectors. Modern businesses use technology to sell products and services to global customers. Most commerce students learn commerce courses intending to land a good and well-paying job. Commerce stream jobs can offer financial security if one follows the right path. This leads to commerce students having a wonderful career that helps them live a comfortable life afterward. A comfortable life is not only achieved when a candidate has a high-paying job but also if the job offers psychological satisfaction.
Because of the many career opportunities in this field, many commerce students get confused about the path to take. This article provides you with 20 best-paying jobs for commerce students to help you expand your knowledge of this field. Let’s get started!
The role of an actuary is important in the insurance industry and is a well-paying gig. Based on talent.com, an entry-level actuary earns approximately $116,925, while the most experienced actuary takes home $180,035 every year. Actuaries test the financial costs of uncertainty and risks. They use financial, statistical, and mathematics theories to determine potential risks and create ways to mitigate them. Actuaries focus on minimizing the costs of risks in an insurance company. They also perform other duties, such as estimating the probability of emergency events. Some of the emergency events estimated are natural disasters, sickness, or death.
Actuaries need to have a first degree in mathematics, statistics, actuarial science, or other related fields. An actuary officer should also gain certification in corporate finance, statistics, or economics to have a better chance of winning a job. Classes in programming languages and writing will add value to your career.
2. Investment Banker
Investment bankers are in demand globally. Their key role is to offer business financial-related advice. They offer business investment ideas, such as the best time to sell specific stocks, how to develop a diversified portfolio, etc. They perform other duties, such as identifying prospective investors, helping the company to close deals with potential investors, offering advice on complex financial transactions, conducting research, and mentoring other junior staff.
An Investment banker role is a lucrative career because of the high salary attached to it. The average salary of an investment banker ranges from $112, 500-$222,00 per year. To become an investment banker, one should pursue a bachelor’s degree in economics, finance, accounting, or a business-related field. Some employer prefers candidates with CFA(Chartered Financial Analyst) designation, financial modeling, and strong analytical skills.
3. Certified Public Accountant (CPA)
This is another well-paying job for a commerce student. An entry-level certified public accountant takes home $65,000 while an average-level accountant earns approximately $77,500 every year. Accountants have expert knowledge of bookkeeping, auditing, and budgeting procedures. A certified public accountant ensures improvement in a company’s financial health by monitoring its daily financial transactions. He performs other duties, such as analyzing company financial statements, conducting internal audits, and preparing tax returns.
A certified public accountant should have a first degree in finance, accounting, or a business-related field. A professional CPA (certification in public accountant) and an understanding of GAAP (Generally Accepted Accounting Principles) are mandatory for this role. To succeed in this role, sound knowledge of Fresh books, QuickBooks, and other accounting software is crucial.
4. Chartered Financial Analyst
This is a lucrative role for commerce students. The most skilled chartered financial analyst makes up to $99,589 while an entry-level chartered financial analyst takes home $55,001 every year. Chartered financial analysts work in mutual fund companies and big investment banks. They test current and historical financial information to guide businesses on how to maximize profits and reduce losses. They also analyze capital expenditure and business depreciation to identify gaps that need improvement for the company to increase its profits.
To become a Chartered Financial Analyst, you need to earn a bachelor’s degree in economics, statistics, or finance. You should also be proficient in working with databases, spreadsheets, and financial software applications.
5. Budget Analyst
If you are a student in commerce, this is another profession worth considering. An entry-level budget analyst earns up to $56,120 yearly while an average level pockets around $68, 125. The most experienced budget analyst takes home approximately $103, 070 per year. You will need to earn a bachelor’s degree in finance, statistics, or economics for you to qualify for work as a budget analyst.
Budget analysts work in government agencies, non-profit organizations, companies, and other financial organizations. They generate, test, and act on a budget while making assessments of the company’s future financial needs. They perform other duties, such as reviewing budget proposals, conducting cost-benefit analyses, and defending budget recommendations.
This is a nice career path for students who have taken courses in statistics, finance, and economics. Some employers prefer those with a master’s degree in economics. Economists work in public and private banks, multinational companies, insurance companies, accountancy firms, local authorities, and other financial consultancies.
They focus on studying market activities. Their major role is to collect and evaluate socioeconomic and financial data, create models for economic predictions, and advise governments and businesses on economic decisions.
This career path attracts a high salary. The most experienced economists make approximately $154,241 annually, while the entry-level positions earn a salary of $71,577 per year. The average economist takes home $99,500 annually.
7. Chartered Accountancy
This is another career path that a commerce student can specialize in. It is one of the most highly paid-professions globally. The average chartered accountant takes home between $80,000 to $102,868 per year. The salary can go up depending on the candidate’s skills, experience, and education.
The primary focus of a chartered accountant is to advise the company on how to improve its business and adhere to tax legislation. They implement financial controls and plans to enhance the management of cash flow in the business. They also perform other duties, such as managing budgets, undertaking financial audits, monitoring financial activities, and analyzing risks that can lead to losses in a business. To become a chartered accountant, you will need to gain a first degree in accounting and possess a certified public accountant(CPA).
8. Financial Controller
The role of a financial controller is lucrative because it attracts a high salary. The average financial controller pockets between $198,600 to $283,300 per year. Financial controllers focus on budgeting, internal control, forecasting, as well as financial planning and analysis. They also perform other duties, such as providing financial reports to the management, predicting future financial performance, and ensuring that businesses adhere to government regulations and policies.
To become a financial controller, you will need to earn a master’s degree in accounting and excellent knowledge of accounting principles. You must also have an outstanding experience in auditing and using accounting software.
9. Digital Marketer
Commerce students can earn good remuneration as digital marketers. An average digital marketer takes home $62, 594 annually. This salary can go high based on the candidate’s experience and skills. Digital marketers assist a company to keep its brand on a marketing campaign. They perform other duties, such as content creation, market research, and strategizing, to enhance the success of the company’s marketing campaigns.
To become a digital marketer, a commerce student must have a bachelor’s degree in marketing, English, business, or a related field. Besides, the experience of navigating social media such as Instagram and Facebook is key in this role. One must also have the knowledge to use keywords to boost marketing effectiveness.
10. Research Analyst
If you are a commerce student knowledgeable in marketing, finance, and business operation, consider pursuing a research analyst career. A research analyst earns a salary of $69,014 yearly. This role is vital in almost every business. He conducts research and gathers and analyses data. Research analysts use this data to identify ways to improve business efficiency. The specific duties of a research analyst include researching, collecting, evaluating, and interpreting information to guide the company’s decision-making process.
To become a research analyst, you will require having a first degree or an associate degree in computer science, statistics, economics, finance, or any other related field. You must also be able to manipulate complex data into manageable sets and write understandable reports.
11. Retail Manager
Retail managers are also well-paid professionals. An entry-level retail manager earns $35,078 while an average-level position earns $45,000. The most experienced retail manager takes home $65,00 yearly. They work in retail shops and supervise and facilitate everyday operations in the workplace. Retail managers ensure employees work effectively to make more sales and help the company maximize its profit. They perform specific duties, such as scheduling employee shifts, training new employees, and communicating with vendors concerning inventory orders.
To become a retail manager, you need to pursue a bachelor’s degree in business management or a relevant field. You should also have an analytical mind and an excellent understanding of retail management software.
12. Product Manager
Product managers are valuable assets in any company. They oversee different kinds of projects, from start to completion. They liaise with stakeholders to obtain business and customer requirements. Project managers translate business requirements into achievable technical specifications. They focus on product rights from the thought process, market evaluation phase, engineering phase, testing, and marketing stage.
Commerce students who want to take this path must earn a bachelor’s degree in business or computer science. MBA is also an added advantage. They also need to have exceptional conceptual thinking and analytical skills. Product management is one of the best-paying careers. Veterans in this field earn $155,899 yearly. An entry-level production manager takes home a salary of $82567 yearly.
13. Business Development Officer
Companies employ business development officers to help them develop and implement strategies that can increase the company’s sales and profits. They focus on identifying sound business deals, profitable business opportunities, and leading business development associates. Business development officers perform duties such as recognizing the company’s underperforming products and services, improving current sales proposals, and developing the company’s policies.
This role is one of the best-paying jobs for commerce students. An average business development officer earns a salary of $89,290 annually, while the most skilled officer takes home 123, 640 per year. To become a business development officer, a first degree in business administration, marketing, accounting, finance, or a related field is mandatory.
14. Event Manager
Event management is a great career for any creative and organized commerce student. Organizational and creativity skills can help you communicate effectively about the brand personality and business strategy. The responsibilities of an event manager are to research and secure venues, manage the company’s events calendar, negotiate quotes with vendors, and assist with event marketing.
To be successful in this role, you must have a first degree in marketing, business management, or a related field. One should also know hospitality, communication, and public relations.
The role of an event manager is a well-paying gig. An entry-level event manager pockets a salary of $44,352 and the most experienced position earns a salary of up to $83,107 per year.
15. Human Resource Manager
A human resource manager typically earns between $75600- $228000 annually. The salary may vary based on the candidate’s experience, skills, or location. This makes this role one of the highest-paid jobs for a commerce student.
Human resource managers oversee a company’s hiring process from the interviewing phase until the recruitment phase. Human resource managers perform other duties, such as helping to improve employee engagement, connecting higher management with employees, and developing strategic talent resource plans.
Human resource management is a good career path for a commerce student who can create and maintain strong relationships with other team members. Some employers prefer candidates with a bachelor’s degree in business administration, human resources, or a related field.
16. Personal Financial Advisor
Generally, this role fits candidates with qualifications in estate planning, risk management, investment, and taxes. Most employers do not ask for a specific course of study for a personal financial advisor. However, getting a first degree in accounting, economics, mathematics, law, or finance is a great way to prepare for this occupation.
Personal financial advisors offer advice on insurance, estate planning, retirement, investments, college savings, and mortgages to help their clients manage their finances well. A personal financial advisor takes home approximately $44,100 to $208,00 per annum, depending on the experience and skills.
17. Sales Manager
This occupation is an ideal match for a commerce student pursuing a first degree in business management or sales and marketing. Employers may also prefer candidates who understand promotion tactics and sales management. It is also crucial for a candidate to know about executing sales campaigns, overseeing sales activities, planning sales, and budgeting.
A sales manager assigns duties to junior staff. He leads and coordinates his team. Sales managers ensure their department works towards achieving set goals and targets. A sales manager earns $74,893 annually, on average. But salaries vary based on experience, education, company, and industry.
18. Fashion Designer
This is a good career path for a commerce student with an excellent sense of style, color, and design. This occupation does not have strict higher education requirements. But an associate degree in fashion technology, fashion design, textile, and fabric design is preferable. Those with training in business management courses have added advantages in this field.
Fashion designers assist with the production of accessories, shoes, and clothes and identify trends. An average fashion designer makes $52,500 yearly, while an entry-level position takes home $39,000 annually.
19. Hotel Manager
A commerce student with excellent knowledge of hotel management best practices can comfortably pursue this career path. However, a bachelor’s degree in business administration, hospitality, or a related field is required.
A hotel manager supervises all daily operations in a hotel. They perform other duties, such as accounting, customer service, and sales. And business development. An entry hotel manager makes $45,008 yearly, while the most experienced hotel manager makes an average salary of $82,320 annually.
20. Company Secretary
Commerce graduates who are passionate about working as company secretaries can work in different work environments. These include the private sector, government, housing associations, charities, law firms, and financial institutions. A company secretary assists business directors on various matters. For example, they receive and manage records, answer calls and accompany directors in meetings. They also perform other duties, such as convening annual general meetings and training directors on corporate governance matters.
Although higher education is not mandatory for this occupation, those with a first degree in finance, law, or a business-related field have a better chance. A company secretary takes home an average salary of $36,075 per year.
The career opportunities provided in this article are available in the market for you as a commerce student to build your career. All are among the best-paying jobs for you. Review them and choose one that offers a well-balanced comfort based on the income returns and job satisfaction elements. Keep in mind that your skills, education, and experience can affect the salary you should earn.