5 Top Courses After B Com in Abroad in 2024 for High-Paying Jobs

There has been a significant increase in the number of Indian students who have decided to study abroad after completing their Bachelor of Commerce (BCom). When students choose to study courses abroad after BCom, they immediately expand their options and prospects. Furthermore, international universities offer world-class education, modern facilities, and an excellent scope of research. 

The prestigious universities abroad offer valuable master’s degrees and niche programs. A master’s in commerce or finance from an internationally reputed institute is valued worldwide. If you are planning to study abroad, let’s take a quick look at the best career opportunities, the study abroad process, and some of the best destinations with universities.

Why Pursue Courses Abroad After B Com

The decision to pursue higher education abroad after completing a Bachelor of Commerce (B.Com) degree is transformative, offering various benefits that extend far beyond the classroom. Before delving into the details of the best courses after B.Com abroad, we should know why studying abroad can be one of the best decisions a person can make. 

• Top universities abroad are renowned for their advanced curricula and innovative teaching methodologies. These institutions stand at the forefront of global rankings, providing education that combines theoretical knowledge with practical application, ensuring that students are industry-ready upon graduation. 
• Another significant advantage is the expansion of one's professional network. This global network can be invaluable as graduates navigate their future careers, offering opportunities for collaboration and employment across borders.
• An international degree can enhance one's resume, making it stand out in the competitive job market. This is supported by data indicating that students who study abroad find employment more quickly and may earn higher salaries than their peers who do not.
• The personal growth experienced through studying abroad is also noteworthy. They learn to adapt to different cultures, languages, and social norms, fostering greater self-awareness and intercultural competence.

Furthermore, the Indian government recognizes the value of international education and offers various scholarships and financial assistance programs to support students who wish to study abroad. 

These initiatives aim to make international education accessible and affordable, encouraging more students to take this enriching step. It's an investment in a future that promises broader perspectives, enhanced employability, and a network of opportunities that spans the globe.

Top Courses After B Com to Pursue Abroad in 2024

For B Com graduates, the pursuit of higher education abroad can be a game-changer. Here's a comprehensive look at the best courses after B.Com abroad to consider in 2024, including details about the courses, top universities, and potential salaries after graduation.

1.Master of Business Administration (MBA)

An MBA abroad program hones leadership and management skills, preparing graduates for various sectors with competitive salaries.

• Top Universities: MIT Sloan, University of Cambridge, University of Oxford, Harvard Business School, and Stanford Graduate Business School.
• Average Salary: The median starting salary for MBA graduates at US companies in 2023 was projected to be $115,000.

2. Master of Finance (MFin)

The MFin degree focuses on financial analysis and investment banking, emphasizing quantitative skills and financial decision-making.

• Top Universities: MIT Sloan, University of Oxford, Stanford University, University of Toronto, and University of Cambridge.
• Average Salary: Finance graduates typically earn competitive salaries at around $133,373 per year in roles such as financial analysts and investment bankers.

3. Master of Accounting (MAcc)

A MAcc degree prepares students for careers in accounting and finance, leading to certifications like CPA and CMA.

• Top Universities: Stanford University, University of Cambridge, Yale University, London School of Economics, Schulich School of Business, and University of Central Arkansas.
• Average Salary: Accounting graduates can expect to earn salaries commensurate with their certifications and experience, with an average salary of around $61,000 to $ 97,000 per year.

4. Master of International Business (MIB)

The MIB program equips students to navigate the complexities of global business, focusing on international trade and marketing.

• Top Universities: New York University, Florida International University, University of Pennsylvania, University of Melbourne, and Hult International Business School.
• Average Salary: The estimated total pay for a Data Analyst is $83,695 per year.

5. Master of Economics (MEcon)

A MEcon degree provides an in-depth understanding of economic theories and models, preparing graduates for roles in policy-making and research.

• Top Universities: Stanford University, Columbia University, Harvard University, Australian National University, and University of St. Gallen.
• Average Salary: Economists and economic analysts often have varied salaries depending on their roles and sectors, averaging around $106,721 per year.

6. Master of Management (MM)

The MM program offers a broad perspective on management, preparing students for leadership roles across various industries.

• Top Universities: London Business School, London School of Economics, HEC Paris, Michigan Ross, and Chulalongkorn University.
• Average Salary: Management graduates' salaries can vary widely based on the industry and job function, averaging around $105,660 per year.

7. Master of Marketing (MMkt)

An MMkt degree focuses on marketing strategies and consumer behavior, which is essential for driving business growth.

• Top Universities: Warwick Business School, HEC Paris, ESCP Business School, Schulich School of Business, and Vanderbilt Business School.
• Average Salary: The average salary for marketing roles is around $71,000 annually.

Please note that salaries can vary greatly depending on the country, industry, level of experience, and the individual university's reputation. It's always best to consult the official university or government websites for the most accurate and up-to-date information.

Other Study Options after Completion of BCom 

• Master of Commerce (Professional Accounting)
• Master of Commerce (Marketing)
• Master of Business and Commerce (Accounting)
• Master of Commerce (Advanced) in Applied Finance
• Master of Commerce in Economics
• Master of Commerce in Supply Chain Management
• Master of Commerce (Agricultural) – Agribusiness Management
• Master of Commerce and Management – Rural Finance
• Master of Commerce (Business Law)

How to Study Abroad after BCom

Those in the final year of BCom can start the application process to study abroad as it is a lengthy process. The entire application process to study overseas may take around 12 months. Below are the required steps in detail –

Step 1: Choose the Right Course: 

Commerce is a popular stream in India Getting a master’s degree in commerce from a university abroad can be valuable. The first step toward studying abroad is to pick the right career option. Students can choose any specialization or course from accounting, business management, finance, economics, marketing, and international relations. The scope of these subjects is immense.

Step 2: Choose the Right Study Abroad Destinations: 

Choose the right study-abroad destination depending upon the university and the cost of living. Some top study destinations for commerce graduates are the United Kingdom, the USA, Canada, Australia, and Germany. These countries are home to top-ranked universities with prestigious faculties, research scope, and academic excellence.

Step 3: Shortlist the University: 

It is essential to shortlist the best university out of all the available options—research before finalizing based on scope, cost of study, rank, and opportunities.

Step 4: Take the Entrance Examination: 

Study abroad programs require various entrance examinations. After completing BCom from India, students must appear for standardized entrance exams and English proficiency tests. The universities demand a GMAT or GRE score if you appear for postgraduate courses after BCom. English proficiency test(s) (IELTS and TOEFL/Country-specific language test) is compulsory for Indian students to prove their language proficiency in all areas. After taking the test and receiving scores, arrange all the documents required for the university application.

Step 5: Documentation: 

Foreign universities require a list of documents to process the application. Students should have a statement of purpose, letter of recommendation, academic transcripts, work experience, passport-size photograph, financial proof, and updated resume.

Step 6: Apply Online: 

Apply online by visiting the university’s official website. Fill out the online application form and upload all the documents.

Step 7: Apply for Scholarships and Loans: 

While you wait for university results, you can apply for financial help or scholarships. This is the right time to go for an education loan if needed.

Step 8: Apply for a Student Visa: 

Once you receive the university’s admission letter, you must apply for a student visa. It is essential to go through the immigration rules and policies of the destination you plan to study in. Every country has its own immigration rules and visa requirements for Indian students.

Step 9: Arrange Accommodation: 

After getting the student visa successfully, arranging for your accommodation abroad is essential.

Step 10: Book your Tickets and Start Packing: 

Refer to the packing checklist and things that are permitted/prohibited according to the destination's immigration policy.

Where can you Study Abroad after Completion of BCom

Here's a comprehensive table for each country, listing the top 5 universities, their QS World University Rankings, and the master's courses they offer for BCom graduates.

Universities in the USA

Universities in Canada

Universities in the UK

Universities in Australia

Universities in Germany 

Please visit the official university websites for the most current information and program details.

Application Process and Requirements

When applying for master's courses in commerce and management, the process generally involves several key steps and requirements common across many universities. Here's a generic overview:

1. Academic Transcripts: Submit official transcripts from your undergraduate program. These should reflect a strong academic performance, especially in relevant coursework.
2. Standardized Test Scores: Many programs require scores from tests like the GMAT or GRE. Language proficiency tests such as the IELTS and TOEFL may also be required for non-native English speakers.
3. Letters of Recommendation: Provide letters from academic or professional references who can vouch for your abilities and potential for success in graduate studies.
4. Statement of Purpose: Write a compelling statement outlining your academic interests, career goals, and reasons for pursuing the program.
5. Resume/CV: Include a detailed resume or CV highlighting your educational background, work experience, and other relevant skills or activities.
6. Application Form: Complete the application form provided by the university, which may include additional essays or questions.
7. Application Fee: Pay the non-refundable application fee required by the university.
8. Interview: Some programs may also include an interview during the admissions process.

For the most accurate and detailed information, applicants should consult the official websites of their chosen universities. Each institution will have specific guidelines and deadlines that must be adhered to.

Visa Process and Requirements

For students planning to study abroad, understanding the visa process and requirements is crucial. Here's a brief overview of the USA, Canada, UK, Australia, Germany and France:

USA: 

To study in the USA, students must obtain an F-1 or M-1 visa. The process involves being accepted by a SEVP-certified school, paying the SEVIS I-901 fee, and completing a visa application at a U.S. Embassy or Consulate.

Canada: 

Applicants must apply for a study permit before arriving in Canada unless eligible to apply from within Canada or at the port of entry. Necessary documents include a letter of acceptance from a designated learning institution and proof of financial support.

UK: 

The UK requires a Student visa for individuals over 16 who have been offered a place on a course. Applicants must prove they have sufficient funds and English language proficiency. The process must be completed online before arrival.

Australia: 

The Student visa (subclass 500) requires an acceptance letter, Confirmation of Enrolment (CoE), and proof of English proficiency. Applicants must apply online and may also need to provide biometric information.

Germany: 

Non-EU students typically need a visa to study in Germany. The type of visa depends on the duration of the study. A national visa is required for courses longer than 90 days, and students must register their address upon arrival.

France: 

The student must be over 18 and have an acceptance letter from a higher education establishment. Supporting Documents include an enrollment certificate and other specified documents. The option of digital submission of documents for faster processing is also present.

Each country has specific procedures and requirements, so it's essential to consult the official immigration websites for detailed information and guidance.

Financial Planning for Study Abroad

Good financial planning is very important for a successful study abroad experience. Here are some tips that will help you conveniently manage your finances:

1. Research and Budget: Before you leave, research the cost of living in your destination country and create a budget.
2. Scholarships and Grants: Look for scholarships, grants, and funding opportunities offered by your home and host universities, as well as external organizations.
3. Part-Time Work: Check the visa regulations of your host country to see if you're allowed to work part-time to supplement your income.
4. Student Discounts: Take advantage of student discounts for travel, museums, and other cultural activities to save money.
5. International Student Identity Card (ISIC): Obtain an ISIC, which provides discounts on travel, insurance, and various services worldwide.
6. Health Insurance: Ensure adequate health insurance coverage, as medical costs can be high abroad.
7. Emergency Fund: Set aside an emergency fund for unexpected expenses or emergencies.

Consult the official immigration and university websites for the most accurate and detailed financial planning information.

Important Scholarships to Study Abroad:

 State Scholarship | Fulbright Scholarship | Vidya Lakshmi Portal | Narotam Sekhsaria

Conclusion

Commerce is a dynamic field that offers Indian B.Com graduates many opportunities abroad, particularly in top destinations like Canada, the UK, and the USA. Pursuing courses after B Com, such as an MBA, MSc in Finance, or specialized courses in digital marketing and data analytics, can dramatically enhance a graduate's career prospects. 

In fact, these programs provide deep knowledge and specialized skills and facilitate cultural exchanges and extensive networking in an international academic setting. For B.Com graduates looking to study abroad in 2024, choosing the right course involves thoroughly evaluating personal career goals, current industry trends, and the distinct advantages of each academic program. 

With strategic planning, this path can significantly boost their professional standing in the competitive global marketplace.Ensure you make the right choice, and if multiple options are confusing you, then we have got experts to help you out. Reach out to us today.