B.Com Banking and Insurance Jobs, Scope, Salary in India

Duration

Average Fees

INR 14,000 to 10 LPA

Lisha Gupta

Updated on Oct 3, 2022 by Lisha Gupta

Lisha Gupta

Updated on Oct 3, 2022 by Lisha Gupta

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:

  • Chanda Kochhar
  • Aditya Puri
  • Murthy Veeraghanta
  • Vanesh Panchal

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