BCom Banking and Insurance Jobs, Scope, Salary in India 2024

Updated on - Jan 4, 2023

B.Com Banking and Insurance jobs are available primarily in the finance and accounts departments of many organizations. Banking and Insurance are two sectors that are fast evolving and witnessing a transformational change. This creates ample opportunities for the students. Upon completing the course, students can easily get jobs as Accountant, Broker, Cashier, Credit Risk Manager, Auditor, Equity Research Analyst, Loan Officer, Market Analyst, Sales Officer, Sales Manager, etc., in numerous private or government organizations. B.Com Banking and Insurance scope lies in various fields like Corporate Sector, Banking Sector, Public Accounting firms, Budget Planning, etc. The graduates of B.Com Banking and Insurance can also opt for higher studies in Master of Commerce, and other related degrees, for enhancing knowledge and better salary payouts.

Career Prospects and Job Scope for B.Com Banking and Insurance

B.Com Banking and Insurance job opportunities are available in Accounts and Finance departments of various private and government banks, financial institutions, educational institutions, and other private organizations. B.Com Banking and Insurance jobs offer opportunities to the students in a variety of emerging sectors like consultancies, auditing, public accounting, fintech firms, etc. Students are trained as professionals to handle various financial activities associated with banking and insurance sectors. B.Com Banking and Insurance job scope lies in a wide range of sectors. Some of the top professional jobs for B.Com Banking and Insurance graduates are:

Auditors
Actuaries
Bookkeepers
Finance Managers
Financial Analyst
Human Resource Managers
Investment Banker
Investment Broker
Investment Analysts
Budget Analysts
Business Consultants
Business Operation Manager

Areas of Recruitment for B.Com Banking and Insurance Graduates

B.Com Banking and Insurance job scope lies in many sectors, primarily in the Accounting, Finance, Banking and Insurance area. With the shift towards economic growth, there is a rising demand for such professionals. B.Com Banking and Insurance jobs are available in many different industries. Some areas of recruitment for B.Com Banking and Insurance graduates are:

Public Accounting Firms
Working Capital Management
Foreign Trade
Industrial Houses
Inventory Control
Banks
Budget Planning
Business Consultancies
Educational Institutes
Investment Banking

Government Jobs for B.Com Banking and Insurance Graduates

B.Com Banking and Insurance course brings a pool of opportunities for students to choose from. Many job roles are available for students in the banking and insurance industry. Many government organizations in India hire B.Com Banking and Insurance graduates in a variety of job designations. Mostly the hiring is based on an entrance exam, followed by an interview for the graduates. Some top government organizations that employ B.Com Banking and Insurance graduates are Public Sector Banks like RBI, SBI, UPSC Civil Services, Indian Railways, LIC, United India Insurance Company Ltd., etc. Some of the job designations with their salaries are:

Job Role	Average Annual Salary
Insurance Advisor	INR 3.12 LPA
Administrative Officer	INR 7.32 LPA
Financial Advisor	INR 4.14 LPA
Insurance Manager	INR 6.13 LPA

Source: Glassdoor

Private Jobs for B.Com Banking and Insurance Graduates

The private sector has a lot to offer the B.Com Banking and Insurance graduates. Private jobs are available in finance, accounting, banking, commerce, insurance and administrative departments of organisations. On completion of the course, students can directly take up jobs or can go for higher studies depending on their skills and interests. The salary for a banking and insurance beginner will be around INR 2-10 LPA. Some of the job designations with their salaries are:

Job Role	Average Annual Salary
Accountant	INR 2.64 LPA
Cashier	INR 1.77 LPA
Insurance Manager	INR 6.13 LPA
Loan Counselor	INR 2.02 LPA
Financial Advisor	INR 4.24 LPA

Source: PayScale

Salary Packages for B.Com Banking and Insurance

According to PayScale, B.Com Banking and Insurance salary in India is around INR 4-5 LPA. Banking and Insurance salary for graduates depends upon the level of education and skills acquired. Many sectors open up for B.Com Banking and Insurance graduates like Business Consultancies, Educational Institutes, Investment Banking etc. Jobs for graduates are available in both private and public organizations. Some job designations with offered salaries are:

Job Role	Average Annual Salary
Accountant	INR 2.64 LPA
Cashier	INR 1.77 LPA
Insurance Manager	INR 6.13 LPA
Loan Counselor	INR 2.02 LPA
Financial Advisor	INR 4.24 LPA

Source: PayScale

Job Opportunities Abroad for B.Com Banking and Insurance Graduates

The jobs for B.Com Banking and Insurance graduates are not just available in India but are also available abroad. Many graduates working with top MNC's are offered transfers abroad. Graduates can do certificate courses or gain higher education to increase their chances of getting a job abroad. There are many top colleges abroad that offer higher education in banking and insurance. With increasing expertise and experience, job opportunities abroad show a rising trend.

Top Companies

Check the list below for the top organizations that hire B.Com Banking and Insurance graduates after pursuing higher studies mainly:

TCS
Sutherland
CITY Bank
State Bank of India
Reserve Bank Of India
ICICI Prudential Life Insurance
HDFC Ergo General Insurance Company
Standard Chartered Bank
Deutsche Bank AG
Royal Bank of Canada

Best Countries

Below are the list of top countries offering job opportunities to B.Com Banking and Insurance graduates:

UK
Singapore
Japan
USA
UAE

Various Career Designations Abroad for B.Com Banking and Insurance Graduates

There are many interesting job profiles that attract B.Com Banking and Insurance graduates to work abroad:

Investment Banking Analyst
Insurance claims adjuster
Credit Analyst
Insurance investigator
Equity Manager
Financial Advisor
Budget Analysts
Business Consultants

Best B.Com Banking and Insurance Graduates

A wide range of opportunities are available in this field and more students nowadays are choosing this subject as their career. B.Com Banking and Insurance graduates have knowledge about finances, accounts and banking. Some of the top B.Com Banking and Insurance graduates are: