B. Com in Banking and Insurance – Course Overview
Banking & insurance is one of the most popular sectors in the country. Many students aspire to make careers in this industry, as the jobs are good and the pay is high. There are also good benefits to be enjoyed. To get a career in banking & insurance, you need to do a B. Com in banking & insurance.
This 3-year degree course has been designed to make students eligible for banking & insurance industry. The course has curated, specialised education that will help students understand the banking & insurance sector, tackle the challenges and bring about innovation in the industry.
In the following blog, you will learn more about the B. Com in banking & insurance degree course, its scope and benefits, the highlights of the course, career opportunities, eligibility criteria, fee structure, and more. This information will help you understand the potential of the course and help you decide on what to pursue after 12th standard.
B.Com in Banking and Insurance: Course Highlights
The following are the course highlights for B. Com in banking & insurance.
| Full Form | Bachelor of Commerce in Banking & Insurance |
| Course Level | This is an Undergraduate to be done after 12th |
| Duration | B. Com in banking & insurance is 3-year degree course |
| Eligibility | You need to have passed 12th standard with more than or equal to 50% as your score. |
| Average Course Fee | The degree has a wide range when it comes to fees. It lie between INR 14,000/- to INR 10 lakhs/ |
| Examination Type | Semester Pattern |
| Admission Process | You may need to clear an entrance exam, or take direct admission. |
| Average Starting Salary Range | The starting salary for B. Com in banking & insurance graduate ranged in INR 2 lakhs to INR 20 lakhs. |
| Top Recruiting Companies | TCS, ICICI, Sutherland, Accenture, Muthoot Finance, Citi Bank |
All the information is generalized. Criteria for eligibility, average course, exam type, admission process may differ from college to college. The average fees and salaries are also subject to the country’s economic condition.
B.Com in Banking and Insurance: Course Duration
The B. Com in banking & insurance is a 3-year degree course. The first year of the course is about establishing a strong foundation for a more detailed and practical education in the following years. By the end of the course, you become an expert in the banking & insurance industry.
B.Com in Banking and Insurance: Course Eligibility Criteria
For a specialised degree course like B. Com in banking & insurance, there is a certain eligibility criterion. Only if you fit into this criterion, you can think of applying for the B. Com in banking & insurance degree course. The criteria are:
- You need to be 12th pass in the commerce stream.
- Some colleges and universities may make an exception and admit students from science and arts.
- You need to have a 12th percentage score of 50% or more.
B.Com in Banking and Insurance: Admission Process
Knowing the admission process for B. Com in banking & insurance degree courses will help you prepare when you decide to get an admission. There are multiple processes which are:
- Entrance Exam – There are competitive entrance exams and based on their score, students are granted admission to the B. Com in banking & insurance degree course.
- Direct Admission – Some colleges may choose to grant direct admission based on your 12th standard scores.
B.Com in Banking and Insurance Course Fees
The course fee is an important deciding factor in whether you want to do a B. Com in banking & insurance or no. The course has a wide fee range starting from INR 14000/- to INR 10 lakhs. This is because the course is now being provided by government-aided colleges and universities and private colleges and universities. Government-aided institutions have lower fees compared to private ones.
B.Com in Banking and Insurance Course Syllabus
Since the B. Com in banking & insurance degree is about a particular industry, the subjects are different from your usual B. Com. Here is the syllabus:-
Semester 1
- Hindi I
- English I
- Business Management
- Financial Accounting I
- Value Education
- Principles of Insurance
- Physical Education
- Principles & Practice of Banking I
Semester 2
- Hindi II
- English II
- Financial Mathematics
- Financial Accounting II
- Environmental Studies
- Insurance Law & Practice
- Principles & Practices of Banking II
Semester 3
- Company Accounts I
- Financial management
- Business Economics
- Non-Major Elective
- Workshop on Numerical skills
- Campus Recruitment Training I
- Legal Regulatory Aspects of Banking I
Semester 4
- Company Accounts II
- E-Commerce & E-Business
- Services Marketing
- Workshop on Reasoning Skills
- Campus Recruitment Training II
- Non-Major Elective
- Institutional Training
- Legal Regulatory Aspects of Banking II
Semester 5
- Income Tax
- Financial Statistics
- Business Environment
- Cost Accounting
- Campus Recruitment Training III
Semester 6
- Management Accounting
- Auditing
- Business Communication
- Project
These are the most commonly taught subjects. However, there might be a few subjects different depending on the college and university you choose.
Salary After B.Com in Banking and Insurance Course in India
Its important to know the careers and salaries you can aim for after getting a B. Com in banking & insurance. They are good motivating factors. The following are the average salary figures for B. Com in banking & insurance graduates.
- Entry level – 2 lakhs
- Mid-level – 10 lakhs
- Top level – 20 lakhs
Though you may start with an average salary, the figures will grow in the following years with experience. The above-mentioned figures are just averages. Salary figures may differ from company to company and are subject to prevailing economic conditions.
B.Com in Banking and Insurance Scope in India
The B. Com in banking & insurance degree course has a lot of scope in India because the banking & insurance sectors are experiencing quite a growth phase in the country. This sector was already doing well because of the country’s economic growth, but now after the COVID-19 pandemic, the importance of banking & insurance will be at its peak and the sector will do even better.
Career/Jobs After B. Com in Banking and Insurance
Now that you know the salary you can get with B. Com in banking & insurance degree, you should also know the careers and jobs that become available to you. You can decide which career you are suited to the most. Here are the careers and jobs after B. Com in banking & insurance:-
1. Auditor – An auditor is a professional who audits accounts to look for mistakes and discrepancies. Auditors may work for companies and even provide individual services.
2. Accountant – An accountant is a professional who looks after the financial accounts of the company they work for. They have to ensure the books are always balanced.
3. Insurer – The main job of an insurer is to provide their clients with insurance. The need to appraise their clients’ income, assets and finances to provide insurance accordingly.
4. Financial Advisor – A financial advisor provides financial advice to clients on making investments and growing their assets and finances.
5. Credit & Risk Manager – The main job of the credit & risk manager is to manage the credit and negate risk in the business and investments of their employer.
How to Choose Top Commerce College for B. Com (Banking and Insurance)
Doing your B. Com in banking & insurance from the right college is important. The right college will give you the right education and career opportunities. The right college will also make you more than just a degree holder, it will make you a professional. So, you should know how to choose the right college.
Here are some parameters to look for in a college for B. Com in banking & insurance:
1. Curriculum – Take a close look at the curriculum of the B. Com in banking & insurance degree. It should have the subjects mentioned above. Additional subjects are welcome.
2. Faculty – Excellent will not only teach you but to also make you understand. You can enquire about the faculty and get info on their qualification and reputation.
3. Placements – 100% placements are a good sign, but getting students placed in the best companies in the country is an even better sign.
4. Accreditation – From government accreditation and ratings to international associations, all these factors will help you choose the right college.
5. Alumni Reviews – Always check with the alumni of the college. They will give you the most honest reviews and opinions about their alma mater.
Make use of these parameters and you will surely find the right college for you B. Com in banking & insurance degree course.
Top Companies Hiring B. Com in Banking Insurance Graduates
Every student has a dream job. Every student also has a dream company theyd want to work for. The following are the companies that are hiring B. Com in banking & insurance graduates:
- TCS
- ICICI
- Sutherland
- HDFC
- HCL
- Bajaj Allianz
- DELL
- Accenture
- CITI Bank
- Muthoot Finance
Benefits of Doing B. Com in Banking and Insurance
If you are ever confused about what degree course you want to study, always get to know about and understand the benefits of the course. If these benefits align with your career goals then you can opt for the course.
Here are the benefits of doing the B. Com in banking & insurance degree course:
- Fast-Growing Sector – The banking & Insurance sector of the country is growing at a fast rate. Profits are multiplying as companies are hiring more young talent.
- Numerous Career Options – There are so many jobs you can do with a B. Com in banking & insurance. Most undergraduate degrees do not avail of such benefits.
- The Best Companies – The biggest companies in the country and the world are leading the charge in hiring B. Com in banking & insurance graduates.
- Excellent Salary & Benefits – Since the best companies are hiring, they are also paying their employees really well and providing them with excellent benefits.
- Specialised Degree Course – Since the B. Com in banking & insurance degree course, education also has an emphasis on personal development.
Skills Required for B. Com in Banking and Insurance
Before you decide to do the B. Com in banking & insurance degree, you also need to assess the skills you need for the course.
Here are the skills required for B. Com in banking & insurance degree course:
- Accounting Skills – You have to be excellent with numbers. You need to know laws, make calculations, and maintain accounts throughout your degree and career.
- Presentations Skills – Making presentations that represent important data is one of the biggest talents you need to have or at least develop to do well in the degree.
- Sales Skills – Sales skills are important for most professions, but more so in banking & insurance. There are many professions where you will be selling products and services.
- Tech Skills – Technology is making a strong presence in banking & insurance. The sector is run by Cloud, AI, ML, Cloud, and analytics. You need to have an understanding of them.
- Updated Knowledge – To excel in education and career, you need to have the urge to constantly update your knowledge in banking & insurance.
Higher Education Courses after B. Com in Banking and Insurance
Many students like to pursue higher studies after graduation. With B. Com in banking & insurance, there are many postgraduate degrees, diplomas, and courses you can study for a career boost. Here are your higher education options:
- Master of Commerce in Banking and Insurance (M. Com in Banking & Insurance)
- Master of Business Administration in Banking & Insurance (MBA in Banking & Insurance)
- Post Graduate Diploma in Management in Banking & Insurance (PGDM in Banking & Insurance)
- Masters in Law in Banking & Insurance (LLM in Banking & Insurance)
- Bachelor of Education in Banking & Insurance (B. Ed in Banking & Insurance)
- Chartered Accountant (CA)
- Company Secretary (CS)
- Chartered Financial Analyst (CFA)
- Financial Risk Manager (FRM)
- IAS (Indian Administrative Service)
Key Takeaway
The B. Com in banking & insurance is one of the best specialised bachelors courses you can do after 12th standard. The course has so much potential that you can get a good job and salary right after graduation, or you can pursue higher studies too. You have many choices. Therefore, if you are thinking of doing the B. Com in the banking & insurance degree course, you should go ahead.
ASM’s Institute of Management & Computer Studies (IMCOST) is one of the best colleges in Maharashtra to do the B. Com in banking & insurance degree course. Located in Thane, IMCOST has become famous for providing ground-breaking education and giving its students the best career opportunities. So, if you want to get the best from you B. Com in banking & insurance degree, do it from IMCOST. Register on their website or directly contact the counsellors, they will guide you well. Enquire today!
